CLDX Nasdaq In Vitro & In Vivo Diagnostic Substances Financials FY2016βFY2025
Celldex Therapeutics, Inc. had $1.5M of revenue in fiscal 2025, down 78.0% on the year before. Over five years, revenue changed β26.9% a year on average.
Last close Β· Oct 23, 2026
$29.25
1.0%Hi! I read Celldex Therapeutics, Inc.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
β78.0%
No. Sales fell 78.0% last year.
Does it make a profit?
β16,748.0%
No. It lost money last year.
Does profit turn into cash?
β13,829.1%
No. It spent more cash than it brought in.
How healthy are the accounts?
1 / 8
Weak. It passes 1 of 8 health tests.
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
KIRA Β· Celldex Therapeutics, Inc. had $1.5M of revenue in fiscal 2025, down 78.0% on the year before. Over five years, revenue changed β26.9% a year on average. Its operating margin was β18,599.8%, down 15,820.9Β pts: of every 100 in sales, about β18,600 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· Celldex Therapeutics, Inc. lost $259M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was β$214M in fiscal 2025, β13,829.1% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· In the last 12 months, insiders sold $1.3M of shares on the open market and bought none.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$1.3M
2 insiders
Of sales under plans
0%
$0.0M
Can it carry its debts, and how well does it use its money?
Cash, debt and the ratios that show how comfortably Celldex Therapeutics, Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $408M | $305M | $424M | $725M | $519M |
| Current ratio | 24.9x | 17.1x | 13.9x | 18.9x | 10.5x |
| Quick ratio | 24.9x | 17.1x | 13.9x | 18.9x | 10.5x |
| Total assets | $445M | $353M | $466M | $792M | $583M |
| Total liabilities | $25.2M | $26.5M | $36.5M | $45.3M | $55.8M |
| Shareholders' equity | $419M | $326M | $429M | $747M | $527M |
| Net debt (β = net cash) | β | β | β | β | β |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· Celldex Therapeutics, Inc. passes 1 of 8 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | 3 / 8 | 4 / 8 | 3 / 8 | 5 / 8 | 4 / 8 | 1 / 8 | 3 / 8 | 4 / 8 | 1 / 8 |
| Accruals ratio | β4.0% | 2.0% | β32.2% | β3.2% | β10.8% | β2.8% | β2.2% | β8.3% | β0.0% | β7.0% |
| Altman Z'' | β3.34 | β5.42 | β19.14 | β23.53 | β3.23 | 13.85 | 4.67 | 5.99 | 15.11 | 1.90 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $6.8M | $12.7M | $9.5M | $3.6M | $7.4M | $4.7M | $2.4M | $6.9M | $7.0M | $1.5M |
| Gross profit | $5.2M | $12.0M | $8.8M | $3.5M | $7.2M | $4.6M | $2.3M | $6.6M | $6.8M | $1.3M |
| Research and development | $103M | $96.2M | $66.4M | $42.7M | $42.5M | $53.3M | $82.3M | $118M | $164M | $245M |
| Operating income | β$133M | β$122M | β$156M | β$55.0M | β$63.4M | β$71.2M | β$115M | β$155M | β$195M | β$287M |
| Pretax income | β$129M | β$117M | β$152M | β$50.9M | β$60.9M | β$70.7M | β$112M | β$141M | β$158M | β$259M |
| Income tax | β | β$24.3M | β$0.8M | β | β$1.2M | β$0.2M | β | $0.0M | $0.0M | $0.0M |
| Net income | β$129M | β$93.0M | β$151M | β$50.9M | β$59.8M | β$70.5M | β$112M | β$141M | β$158M | β$259M |
| Net income to common | β$129M | β$93.0M | β$151M | β$50.9M | β$59.8M | β$70.5M | β$112M | β$141M | β$158M | β$259M |
| Diluted EPS | β$18.99 | β$10.86 | β$14.48 | β$3.51 | β$2.02 | β$1.64 | β$2.40 | β$2.92 | β$2.45 | β$3.90 |
| Diluted shares | 0.01B | 0.01B | 0.00B | 0.00B | 0.00B | 0.00B | 0.00B | 0.05B | 0.06B | 0.07B |
| Cash flow | ||||||||||
| Cash from operations | β$113M | β$99.9M | β$75.2M | β$46.4M | β$40.4M | β$60.9M | β$104M | β$107M | β$158M | β$211M |
| Capital expenditure | $2.8M | $1.8M | $0.8M | $0.7M | $1.6M | $1.2M | $1.8M | $1.8M | $1.9M | $2.7M |
| Free cash flow | β$116M | β$102M | β$76.0M | β$47.1M | β$42.0M | β$62.2M | β$106M | β$109M | β$160M | β$214M |
| Depreciation and amortization | $3.1M | $4.4M | $3.6M | $4.9M | $3.9M | $3.1M | $2.9M | $3.0M | $3.2M | $3.4M |
| Stock-based compensation | $15.3M | $12.3M | $8.1M | $4.6M | $3.9M | $9.0M | $15.6M | $23.9M | $34.2M | $36.2M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $190M | $139M | $94.0M | $64.4M | $194M | $408M | $305M | $424M | $725M | $519M |
| Current assets | $196M | $145M | $99.1M | $66.7M | $198M | $411M | $318M | $432M | $747M | $535M |
| Current liabilities | $35.2M | $27.7M | $12.6M | $11.6M | $14.2M | $16.5M | $18.6M | $31.1M | $39.5M | $51.0M |
| Property and equipment, net | $13.2M | $10.4M | $6.1M | $4.0M | $3.8M | $3.6M | $3.7M | $4.1M | $4.3M | $5.3M |
| Goodwill | $91.0M | $91.0M | β | β | β | β | β | β | β | β |
| Intangible assets | $81.5M | $67.6M | $48.7M | $48.7M | $30.7M | $27.2M | $27.2M | $27.2M | $27.2M | $27.2M |
| Total assets | $383M | $316M | $156M | $123M | $236M | $445M | $353M | $466M | $792M | $583M |
| Total liabilities | $118M | $79.3M | $31.7M | $28.9M | $26.5M | $25.2M | $26.5M | $36.5M | $45.3M | $55.8M |
| Preferred stock | β | β | β | β | β | $0.0M | $0.0M | β | β | β |
| Shareholders' equity | $265M | $236M | $124M | $94.0M | $209M | $419M | $326M | $429M | $747M | $527M |
| Margins | ||||||||||
| Gross margin | 76.4% | 94.5% | 92.7% | 97.2% | 97.3% | 97.8% | 95.8% | 95.6% | 97.2% | 87.1% |
| Operating margin | β1,958.7% | β953.7% | β1,640.1% | β1,540.2% | β854.1% | β1,531.8% | β4,889.0% | β2,245.3% | β2,778.9% | β18,599.8% |
| EBITDA margin | β1,913.1% | β919.0% | β1,602.6% | β1,404.2% | β801.1% | β1,465.8% | β4,766.1% | β2,201.6% | β2,733.6% | β18,381.0% |
| Net margin | β1,894.0% | β730.1% | β1,585.1% | β1,424.0% | β805.9% | β1,516.0% | β4,765.6% | β2,054.8% | β2,248.8% | β16,748.0% |
| FCF margin | β1,706.3% | β798.2% | β797.3% | β1,319.5% | β565.6% | β1,336.4% | β4,478.6% | β1,585.2% | β2,274.9% | β13,829.1% |
| Returns | ||||||||||
| Return on capital employed | β38.2% | β42.2% | β109.2% | β49.4% | β28.6% | β16.6% | β34.5% | β35.6% | β25.9% | β54.0% |
| Return on equity | β48.4% | β37.1% | β83.9% | β46.7% | β39.4% | β22.4% | β30.1% | β37.4% | β26.8% | β40.6% |
| Return on assets | β33.5% | β26.6% | β64.1% | β36.5% | β33.3% | β20.7% | β28.2% | β34.6% | β25.1% | β37.6% |
| Return on tangible equity | β138.3% | β119.6% | β200.6% | β112.2% | β33.5% | β18.0% | β37.6% | β35.2% | β21.9% | β51.8% |
| Growth | ||||||||||
| Revenue growth | β | 87.8% | β25.2% | β62.5% | 107.6% | β37.3% | β49.3% | 192.0% | 2.0% | β78.0% |
| Share count change | β | 26.6% | β99.9% | 39.4% | 104.1% | 44.9% | 9.3% | 103,202.8% | 32.9% | 3.1% |
| Financial health | ||||||||||
| Current ratio | 5.6x | 5.2x | 7.9x | 5.7x | 13.9x | 24.9x | 17.1x | 13.9x | 18.9x | 10.5x |
| Quick ratio | 5.6x | 5.2x | 7.9x | 5.7x | 13.9x | 24.9x | 17.1x | 13.9x | 18.9x | 10.5x |
| Capital allocation | ||||||||||
| Capex / revenue | 40.5% | 14.0% | 8.5% | 20.5% | 20.9% | 26.9% | 77.6% | 26.4% | 27.3% | 175.7% |
| Stock comp / revenue | 225.7% | 96.6% | 84.7% | 127.4% | 52.8% | 192.5% | 662.3% | 347.1% | 487.8% | 2,344.1% |
| Quality scores | ||||||||||
| Piotroski F-score | β | 3.0 | 4.0 | 3.0 | 5.0 | 4.0 | 1.0 | 3.0 | 4.0 | 1.0 |
| Altman Z'' | β3.3 | β5.4 | β19.1 | β23.5 | β3.2 | 13.8 | 4.7 | 6.0 | 15.1 | 1.9 |
| Accruals ratio | β4.0% | 2.0% | β32.2% | β3.2% | β10.8% | β2.8% | β2.2% | β8.3% | β0.0% | β7.0% |
Source: SEC EDGAR XBRL filings (CIK 0000744218). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
