Apellis Pharmaceuticals (APLS) Financials

$41.03 0.00 (0.00%)

As of 05/14/2026

Annual Income Statements for Apellis Pharmaceuticals

This table shows Apellis Pharmaceuticals' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-47	-27	-51	-128	-305	-345	-748	-651	-531	-198	24
Consolidated Net Income / (Loss)	-47	-27	-51	-128	-305	-345	-746	-652	-529	-198	22
Net Income / (Loss) Continuing Operations	-47	-27	-51	-128	-305	-345	-746	-652	-529	-198	22
Total Pre-Tax Income	-47	-27	-51	-128	-305	-343	-746	-652	-526	-197	24
Total Operating Income	-47	-27	-51	-128	-288	-214	-536	-595	-517	-165	55
Total Gross Profit	0.00	0.00	0.00	0.00	0.00	251	67	75	397	781	1,004
Total Revenue	0.00	0.00	0.00	0.00	0.00	251	67	75	397	781	1,004
Operating Revenue	-	-	-	0.00	0.00	251	67	75	397	781	1,004
Total Cost of Revenue	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	47	27	51	128	288	464	603	670	914	946	948
Selling, General & Admin Expense	6.36	4.30	10	23	67	139	177	277	501	501	550
Research & Development Expense	40	23	40	105	221	300	346	387	354	328	296
Other Operating Expenses / (Income)	-	-	-	-	0.00	25	75	0.00	59	118	102
Total Other Income / (Expense), net	0.06	0.16	-0.24	0.42	-17	-129	-210	-57	-9.38	-32	-31
Interest Expense	-	0.00	0.37	2.51	6.79	30	13	33	30	40	44
Interest & Investment Income	0.05	0.14	0.28	2.96	5.11	4.16	0.42	8.91	21	13	13
Other Income / (Expense), net	0.01	0.02	-0.14	-0.03	-15	-104	-197	-33	-0.73	-4.12	-0.13
Income Tax Expense	-	-	-	0.00	0.00	1.85	0.35	0.67	2.13	1.16	1.72
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)	-	0.00	0.00	0.12	0.03	-	1.97	-1.22	2.67	-0.23	-1.21
Basic Earnings per Share	($8.03)	($3.22)	($3.68)	($2.34)	($4.90)	($4.59)	($8.84)	($6.15)	($4.45)	($1.60)	$0.18
Weighted Average Basic Shares Outstanding	5.80M	8.43M	13.87M	54.40M	62.23M	75.16M	84.42M	106.11M	118.68M	123.91M	126.15M
Diluted Earnings per Share	($8.03)	($3.22)	($3.68)	($2.34)	($4.90)	($4.59)	($8.84)	($6.15)	($4.45)	($1.60)	$0.20
Weighted Average Diluted Shares Outstanding	5.80M	8.43M	13.87M	54.40M	62.23M	75.16M	84.42M	106.11M	118.68M	123.91M	129.86M
Weighted Average Basic & Diluted Shares Outstanding	5.80M	8.43M	13.87M	54.40M	62.23M	75.16M	84.42M	111.29M	120.58M	125.52M	127.83M

This table shows Apellis Pharmaceuticals' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-140	-89	-66	-38	-57	-36	-92	-42	216	-58	18
Consolidated Net Income / (Loss)	-140	-89	-66	-38	-57	-36	-92	-42	216	-59	19
Net Income / (Loss) Continuing Operations	-140	-89	-66	-38	-57	-36	-92	-42	216	-59	19
Total Pre-Tax Income	-140	-87	-66	-38	-57	-36	-92	-42	216	-59	19
Total Operating Income	-137	-85	-62	-29	-47	-26	-83	-33	223	-51	26
Total Gross Profit	110	146	172	200	197	213	167	178	459	200	268
Total Revenue	110	146	172	200	197	213	167	178	459	200	268
Operating Revenue	110	146	172	200	197	213	167	178	459	200	268
Total Cost of Revenue	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Operating Expenses	247	231	234	229	244	239	250	212	235	251	242
Selling, General & Admin Expense	146	142	130	128	122	121	129	131	143	147	124
Research & Development Expense	79	69	85	78	89	76	86	67	68	74	77
Other Operating Expenses / (Income)	22	20	20	23	34	41	34	14	25	30	41
Total Other Income / (Expense), net	-2.92	-2.64	-4.16	-8.10	-9.57	-9.90	-8.56	-8.40	-6.87	-7.50	-7.32
Interest Expense	7.31	7.40	6.97	9.36	13	12	11	11	11	11	10
Interest & Investment Income	4.99	4.55	3.30	3.18	2.89	3.40	2.66	2.61	4.38	3.50	2.91
Other Income / (Expense), net	-0.60	0.22	-0.50	-1.93	0.07	-1.77	-0.17	0.15	0.04	-0.15	0.09
Income Tax Expense	0.23	1.42	0.17	0.11	0.59	0.29	0.34	0.47	0.60	0.31	0.50
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)	-	-	-	-	-	-	-0.25	-	-	-	0.31
Basic Earnings per Share	($1.17)	($0.70)	($0.54)	($0.30)	($0.46)	($0.30)	($0.74)	($0.33)	$1.71	($0.46)	$0.15
Weighted Average Basic Shares Outstanding	120.29M	118.68M	122.96M	123.90M	124.23M	123.91M	125.45M	126.02M	126.42M	126.15M	127.68M
Diluted Earnings per Share	($1.17)	($0.70)	($0.54)	($0.30)	($0.46)	($0.30)	($0.74)	($0.33)	$1.67	($0.40)	$0.15
Weighted Average Diluted Shares Outstanding	120.29M	118.68M	122.96M	123.90M	124.23M	123.91M	125.45M	126.02M	130.07M	129.86M	131.42M
Weighted Average Basic & Diluted Shares Outstanding	118.50M	120.58M	121.37M	121.77M	124.39M	125.52M	125.68M	126.29M	126.53M	127.83M	128.02M

This table details how cash moves in and out of Apellis Pharmaceuticals' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	22	-11	151	0.62	176	215	75	-89	-201	60	55
Net Cash From Operating Activities	-19	-26	-47	-131	-211	-160	-563	-514	-595	-88	45
Net Cash From Continuing Operating Activities	-19	-26	-47	-131	-211	-160	-563	-514	-595	-88	45
Net Income / (Loss) Continuing Operations	-47	-27	-51	-128	-305	-345	-746	-652	-529	-198	22
Consolidated Net Income / (Loss)	-47	-27	-51	-128	-305	-345	-746	-652	-529	-198	22
Depreciation Expense	-	-	0.00	0.00	0.24	0.64	1.38	1.55	1.78	1.80	1.56
Amortization Expense	0.00	0.00	0.03	0.65	2.70	16	1.08	0.46	0.30	1.56	2.50
Non-Cash Adjustments To Reconcile Net Income	26	1.49	5.42	7.73	37	148	274	152	132	125	104
Changes in Operating Assets and Liabilities, net	1.94	-0.37	-1.03	-12	53	20	-94	-16	-200	-18	-85
Net Cash From Investing Activities	0.00	0.00	0.00	0.00	-1.69	-317	248	60	-0.67	-0.40	-0.31
Net Cash From Continuing Investing Activities	0.00	0.00	0.00	0.00	-1.69	-317	248	60	-0.67	-0.40	-0.31
Purchase of Property, Plant & Equipment	-	-	0.00	0.00	-1.69	-5.42	-1.10	-1.52	-0.77	-0.40	-0.31
Purchase of Investments	-	-	-	0.00	0.00	-879	-171	-332	0.00	0.00	0.00
Sale of Property, Plant & Equipment	-	-	-	-	-	-	0.00	0.00	0.10	0.00	0.00
Sale and/or Maturity of Investments	-	-	-	0.00	0.00	568	420	393	0.00	0.00	0.00
Net Cash From Financing Activities	41	15	197	132	389	692	392	366	394	149	8.88
Net Cash From Continuing Financing Activities	41	15	197	132	389	692	392	366	394	149	8.88
Repayment of Debt	-	-	0.00	0.00	184	323	-	0.00	0.00	-7.21	0.00
Issuance of Debt	0.00	0.00	26	-	-	-	-	0.00	0.00	365	0.00
Issuance of Common Equity	0.00	0.00	150	131	110	383	383	384	390	4.51	3.35
Other Financing Activities, net	0.00	0.00	0.68	0.73	95	-14	8.90	-19	4.73	-214	5.53
Effect of Exchange Rate Changes	-	0.00	0.00	-0.04	0.00	0.36	-2.02	-0.49	0.14	-0.66	1.25
Cash Interest Paid	-	0.00	0.13	1.82	0.99	13	10	5.00	3.29	29	41
Cash Income Taxes Paid	-	-	-	-	-	1.65	0.05	4.92	0.00	0.00	0.00

This table details how cash moves in and out of Apellis Pharmaceuticals' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-164	-101	-25	34	37	14	-53	12	109	-13	-61
Net Cash From Operating Activities	-169	-98	-133	-8.34	34	19	-53	4.45	108	-14	-61
Net Cash From Continuing Operating Activities	-169	-98	-133	-8.46	34	19	-53	4.45	108	-14	-61
Net Income / (Loss) Continuing Operations	-140	-89	-66	-38	-57	-36	-92	-42	216	-59	19
Consolidated Net Income / (Loss)	-140	-89	-66	-38	-57	-36	-92	-42	216	-59	19
Depreciation Expense	0.46	0.48	0.44	0.45	0.46	0.45	0.45	0.45	0.34	0.33	0.29
Amortization Expense	0.08	0.08	0.08	0.24	0.66	0.59	0.59	0.61	0.64	0.66	0.66
Non-Cash Adjustments To Reconcile Net Income	28	33	36	35	27	26	27	27	28	21	25
Changes in Operating Assets and Liabilities, net	-58	-43	-103	-6.29	63	28	10	18	-136	23	-106
Net Cash From Investing Activities	-0.05	0.00	-0.29	-0.09	-	-0.02	-0.01	-0.05	-0.15	-0.11	0.00
Net Cash From Continuing Investing Activities	-0.05	0.00	-0.29	-0.09	-	-0.02	-0.01	-0.05	-0.15	-0.11	0.00
Purchase of Property, Plant & Equipment	-0.05	-0.10	-0.29	-0.09	-	-0.02	-0.01	-0.05	-0.15	-0.11	0.00
Net Cash From Financing Activities	5.75	-3.91	108	42	2.54	-4.00	0.27	6.56	0.79	1.26	0.06
Net Cash From Continuing Financing Activities	5.75	-3.91	108	42	2.54	-4.00	0.27	6.56	0.79	1.26	0.06
Other Financing Activities, net	5.75	-5.54	108	-325	2.54	0.31	0.27	4.37	0.79	0.10	0.06
Effect of Exchange Rate Changes	-0.46	0.58	-0.21	0.34	0.17	-0.97	0.36	0.69	0.02	0.18	-0.13
Cash Interest Paid	1.64	-	1.64	5.31	12	9.92	11	-	21	9.35	10
Cash Income Taxes Paid	0.19	-0.58	0.00	-	0.60	1.05	0.14	0.67	0.04	-0.85	0.07

This table presents Apellis Pharmaceuticals' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	27	182	204	389	961	882	760	789	885	1,075
Total Current Assets	27	182	202	373	917	824	720	766	789	1,015
Cash & Equivalents	25	176	176	352	566	640	552	351	411	466
Restricted Cash	-	-	-	0.00	1.27	1.56	1.27	1.11	1.32	1.53
Accounts Receivable	-	-	-	-	0.00	10	7.73	206	265	366
Inventories, net	-	-	-	-	0.00	16	86	146	81	143
Prepaid Expenses	1.13	5.06	24	20	11	25	36	39	30	38
Plant, Property, & Equipment, net	0.00	0.00	0.98	1.66	6.80	6.18	6.15	4.35	2.95	1.71
Total Noncurrent Assets	0.06	0.12	0.12	14	37	52	35	18	93	59
Other Noncurrent Operating Assets	-	-	0.12	14	37	52	35	18	93	59
Total Liabilities & Shareholders' Equity	27	182	204	389	961	882	760	789	885	1,075
Total Liabilities	3.64	33	43	355	756	683	590	594	657	705
Total Current Liabilities	3.64	6.55	17	66	128	132	168	248	186	324
Short-Term Debt	-	0.00	1.67	-	-	-	-	-	0.00	94
Accounts Payable	2.55	3.66	10	8.36	8.48	17	37	38	39	57
Accrued Expenses	1.09	2.89	5.10	55	112	103	95	128	140	166
Other Current Liabilities	-	-	0.00	2.61	7.92	12	35	82	6.75	7.09
Total Noncurrent Liabilities	0.00	26	26	289	628	551	423	347	471	382
Long-Term Debt	0.00	26	25	143	359	189	93	93	453	362
Other Noncurrent Operating Liabilities	-	-	0.16	147	269	362	330	254	18	20
Commitments & Contingencies	-	-	-	0.00	0.00	-	-	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	24	149	161	34	205	199	170	195	229	370
Total Preferred & Common Equity	24	149	161	34	205	199	170	195	229	370
Preferred Stock	92	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-68	149	161	34	205	199	170	195	229	370
Common Stock	30	298	438	616	1,131	1,857	2,480	3,036	3,267	3,385
Retained Earnings	-98	-149	-277	-581	-926	-1,657	-2,309	-2,837	-3,035	-3,013
Accumulated Other Comprehensive Income / (Loss)	-	0.00	-0.12	-0.15	-0.12	-2.09	-0.88	-3.54	-3.31	-2.10

This table presents Apellis Pharmaceuticals' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	873	979	916	818	832	904	902	807	821	1,059	1,083
Total Current Assets	832	954	893	797	811	860	834	728	756	991	1,028
Cash & Equivalents	584	765	616	452	326	360	397	358	370	479	405
Restricted Cash	1.26	1.28	1.09	1.09	1.10	1.34	1.37	1.43	1.43	1.43	1.52
Accounts Receivable	8.09	32	111	169	268	304	279	235	214	346	440
Inventories, net	60	85	103	99	161	153	121	82	121	123	131
Prepaid Expenses	30	37	34	45	43	29	24	37	29	32	50
Plant, Property, & Equipment, net	5.68	5.97	5.34	4.79	4.20	3.84	3.38	2.51	2.12	1.93	1.42
Total Noncurrent Assets	35	19	18	17	16	41	65	77	64	66	53
Other Noncurrent Operating Assets	35	19	18	17	16	41	65	77	64	66	53
Total Liabilities & Shareholders' Equity	873	979	916	818	832	904	902	807	821	1,059	1,083
Total Liabilities	565	567	570	586	565	640	665	643	665	658	668
Total Current Liabilities	115	139	175	186	215	169	191	178	201	280	283
Short-Term Debt	-	-	-	-	-	-	-	-	-	94	94
Accounts Payable	14	31	28	18	27	38	43	55	54	39	49
Accrued Expenses	80	71	98	117	101	123	140	116	139	140	134
Other Current Liabilities	22	36	50	50	84	6.21	6.79	6.94	7.42	7.02	6.96
Total Noncurrent Liabilities	450	428	395	400	350	471	473	465	464	378	384
Long-Term Debt	93	93	93	93	93	457	452	453	454	361	362
Other Noncurrent Operating Liabilities	357	335	302	307	257	14	21	11	10	17	22
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	307	412	345	232	267	264	237	164	156	401	415
Total Preferred & Common Equity	307	412	345	232	267	264	237	164	156	401	415
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	307	412	345	232	267	264	237	164	156	401	415
Common Stock	2,453	2,900	2,955	2,982	3,174	3,209	3,239	3,295	3,329	3,358	3,412
Retained Earnings	-2,143	-2,487	-2,609	-2,749	-2,904	-2,942	-2,999	-3,128	-3,170	-2,954	-2,994
Accumulated Other Comprehensive Income / (Loss)	-3.03	-0.78	-0.80	-1.07	-3.53	-3.36	-3.14	-3.05	-2.57	-2.40	-2.41

This table displays calculated financial ratios and metrics derived from Apellis Pharmaceuticals' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-73.44%	13.31%	425.83%	97.02%	28.46%
EBITDA Growth	0.00%	41.46%	-86.66%	-150.17%	-135.74%	-0.26%	-142.88%	14.40%	17.54%	67.86%	135.81%
EBIT Growth	0.00%	41.46%	-86.75%	-151.33%	-136.83%	-4.69%	-131.10%	14.41%	17.47%	67.35%	132.70%
NOPAT Growth	0.00%	41.42%	-86.08%	-151.98%	-125.14%	25.79%	-150.92%	-10.88%	13.03%	68.10%	144.57%
Net Income Growth	0.00%	41.69%	-88.04%	-149.97%	-138.98%	-13.18%	-116.41%	12.62%	18.94%	62.57%	111.31%
EPS Growth	0.00%	59.90%	-14.29%	36.41%	-109.40%	6.33%	-92.59%	30.43%	27.64%	64.04%	112.50%
Operating Cash Flow Growth	0.00%	-37.90%	-79.19%	-181.66%	-60.88%	23.99%	-250.88%	8.77%	-15.76%	85.23%	151.59%
Free Cash Flow Firm Growth	0.00%	0.00%	-103.12%	-178.11%	85.54%	36.82%	-3,961.34%	-16.92%	-33.51%	23.60%	91.65%
Invested Capital Growth	0.00%	0.00%	83.93%	6,549.17%	-1,591.08%	-80.11%	0.35%	7.62%	77.71%	515.10%	33.10%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	38,699.69%	-74.03%	-33.28%	45.34%	9.25%	-1.24%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	-17.43%	-31.34%	40.34%	-48.59%	-3.19%	13.44%	25.57%	-28.29%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	-17.45%	-32.10%	38.70%	-46.91%	-3.19%	13.38%	25.00%	-29.70%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	-17.66%	-31.35%	52.48%	-69.30%	-14.36%	13.33%	26.13%	-33.58%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	-17.11%	-33.42%	35.70%	-43.49%	-2.85%	12.77%	20.88%	-50.23%
EPS Q/Q Growth	0.00%	0.00%	0.00%	-58.11%	-30.67%	38.47%	-41.21%	0.00%	15.56%	20.00%	-33.33%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-23.90%	-28.30%	-21.66%	58.26%	-82.45%	-5.82%	6.72%	57.16%	-42.52%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	-667.47%	95.34%	-96.15%	-24.41%	1.91%	22.01%	-465.73%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	420.44%	-13.89%	-16.95%	-4.95%	6.22%	49.53%	-7.68%	-4.67%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	0.00%	0.00%	0.00%	0.00%	0.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	0.00%	0.00%	0.00%	0.00%	0.00%	-120.03%	-1,097.79%	-829.32%	-130.05%	-21.21%	5.91%
Operating Margin	0.00%	0.00%	0.00%	0.00%	0.00%	-85.27%	-805.67%	-788.38%	-130.39%	-21.11%	5.52%
EBIT Margin	0.00%	0.00%	0.00%	0.00%	0.00%	-126.58%	-1,101.48%	-831.99%	-130.57%	-21.64%	5.51%
Profit (Net Income) Margin	0.00%	0.00%	0.00%	0.00%	0.00%	-137.59%	-1,121.27%	-864.70%	-133.29%	-25.32%	2.23%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.54%	100.05%	100.10%	100.40%	100.59%	92.86%
Interest Burden Percent	99.89%	99.50%	100.19%	99.65%	100.55%	108.12%	101.75%	103.82%	101.67%	116.33%	43.60%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	7.14%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-113.21%	16.43%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-37.99%	-192.90%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	19.67%	-8.95%
Return on Equity (ROE)	0.00%	-114.00%	-59.06%	-82.28%	-312.20%	-288.86%	-370.20%	-353.93%	-290.14%	-93.55%	7.48%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	-863.71%	0.00%	0.00%	0.00%	0.00%	0.00%	-167.06%	-11.97%
Operating Return on Assets (OROA)	0.00%	0.00%	0.00%	0.00%	0.00%	-47.01%	-79.59%	-76.43%	-66.86%	-20.21%	5.64%
Return on Assets (ROA)	0.00%	0.00%	0.00%	0.00%	0.00%	-51.10%	-81.02%	-79.44%	-68.26%	-23.64%	2.28%
Return on Common Equity (ROCE)	0.00%	327.03%	-27.58%	-82.28%	-312.20%	-288.86%	-370.20%	-353.93%	-290.14%	-93.55%	7.48%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-114.00%	-34.25%	-79.21%	-890.20%	-168.60%	-375.69%	-383.92%	-271.76%	-86.58%	0.00%
Net Operating Profit after Tax (NOPAT)	-33	-19	-36	-90	-202	-150	-375	-416	-362	-115	51
NOPAT Margin	0.00%	0.00%	0.00%	0.00%	0.00%	-59.69%	-563.97%	-551.87%	-91.27%	-14.78%	5.13%
Net Nonoperating Expense Percent (NNEP)	0.00%	-64.40%	-17.78%	-25.44%	-57.49%	-53.53%	-71.81%	-48.48%	-46.32%	-75.23%	209.33%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-158.50%	-125.88%	-16.95%	6.24%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	55.62%	265.57%	367.48%	126.28%	64.13%	54.82%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	119.66%	519.61%	513.43%	89.36%	41.92%	29.47%
Operating Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	185.27%	905.67%	888.38%	230.39%	121.11%	94.48%
Earnings before Interest and Taxes (EBIT)	-47	-27	-51	-128	-303	-317	-733	-628	-518	-169	55
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-47	-27	-51	-127	-300	-301	-731	-625	-516	-166	59
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	7.33	4.61	57.15	21.18	20.78	33.66	36.47	17.37	8.59
Price to Tangible Book Value (P/TBV)	0.00	0.00	7.33	4.61	57.15	21.18	20.78	33.66	36.47	17.37	8.59
Price to Revenue (P/Rev)	0.00	0.00	0.00	0.00	0.00	17.28	62.01	75.81	17.89	5.08	3.17
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	134.71
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.74%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	50.44	0.00	0.00	0.00	0.00	0.00	14.92	8.85
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	0.00	0.00	15.21	54.30	69.71	17.23	5.13	3.15
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	53.34
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	57.26
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	61.51
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	69.85
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.18	0.17	4.17	1.75	0.95	0.55	0.48	1.98	1.23
Long-Term Debt to Equity	0.00	0.00	0.18	0.16	4.17	1.75	0.95	0.55	0.48	1.98	0.98
Financial Leverage	0.00	-1.05	-1.01	-0.96	-1.84	-3.06	-2.56	-2.64	-1.97	-0.52	0.05
Leverage Ratio	0.00	1.15	1.21	1.24	3.04	5.65	4.57	4.46	4.25	3.96	3.27
Compound Leverage Factor	0.00	1.15	1.22	1.24	3.05	6.11	4.65	4.63	4.32	4.60	1.43
Debt to Total Capital	0.00%	0.00%	15.05%	14.38%	80.64%	63.69%	48.76%	35.31%	32.35%	66.46%	55.16%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.89%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	11.35%
Long-Term Debt to Total Capital	0.00%	0.00%	15.05%	13.50%	80.64%	63.69%	48.76%	35.31%	32.35%	66.46%	43.81%
Preferred Equity to Total Capital	0.00%	386.88%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	-286.88%	84.95%	85.62%	19.36%	36.31%	51.24%	64.69%	67.65%	33.54%	44.84%
Debt to EBITDA	0.00	0.00	-0.52	-0.21	-0.48	-1.19	-0.26	-0.15	-0.18	-2.73	7.67
Net Debt to EBITDA	0.00	0.00	2.93	1.17	0.70	1.73	0.70	0.74	0.50	-0.24	-0.21
Long-Term Debt to EBITDA	0.00	0.00	-0.52	-0.20	-0.48	-1.19	-0.26	-0.15	-0.18	-2.73	6.09
Debt to NOPAT	0.00	0.00	-0.74	-0.30	-0.71	-2.40	-0.50	-0.22	-0.26	-3.92	8.85
Net Debt to NOPAT	0.00	0.00	4.20	1.67	1.04	3.48	1.37	1.11	0.72	-0.35	-0.24
Long-Term Debt to NOPAT	0.00	0.00	-0.74	-0.28	-0.71	-2.40	-0.50	-0.22	-0.26	-3.92	7.03
Altman Z-Score	0.00	0.00	18.83	7.57	-0.41	2.24	-0.73	-0.19	1.25	-0.10	0.66
Noncontrolling Interest Sharing Ratio	0.00%	386.88%	53.29%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	7.52	27.77	11.89	5.67	7.15	6.25	4.29	3.10	4.25	3.14
Quick Ratio	0.00	6.83	26.80	10.35	5.35	6.84	5.39	3.34	2.25	3.65	2.57
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-18	-36	-101	-15	-9.27	-376	-440	-588	-449	-37
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	-12,471.06%	-2,959.94%	-51,054.03%	-33,710.30%	-88,239.61%	-21,802.98%	14,481.47%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	-97.37	-40.38	-2.16	-0.31	-28.43	-13.49	-19.87	-11.12	-0.85
Operating Cash Flow to Interest Expense	0.00	0.00	-124.34	-52.22	-31.11	-5.36	-42.53	-15.75	-20.11	-2.18	1.02
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	-124.34	-52.22	-31.36	-5.54	-42.61	-15.79	-20.13	-2.19	1.02
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.37	0.07	0.09	0.51	0.93	1.02
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	8.46	3.70	3.32	3.18
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	59.27	10.26	12.24	75.59	214.16	430.81
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	43.14	98.55	110.10	114.75
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	43.14	98.55	110.10	114.75
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	-1.13	-0.18	12	-175	-316	-314	-290	-65	269	358
Invested Capital Turnover	0.00	0.00	0.00	0.00	0.00	-1.02	-0.21	-0.25	-2.23	7.66	3.20
Increase / (Decrease) in Invested Capital	0.00	-1.13	0.95	12	-187	-140	1.10	24	226	334	89
Enterprise Value (EV)	0.00	0.00	943	593	1,747	3,812	3,614	5,258	6,834	4,010	3,166
Market Capitalization	0.00	0.00	1,092	742	1,956	4,332	4,127	5,718	7,093	3,969	3,178
Book Value per Share	$0.00	($8.10)	$2.96	$2.86	$0.54	$2.70	$2.28	$1.54	$1.64	$1.84	$2.93
Tangible Book Value per Share	$0.00	($8.10)	$2.96	$2.86	$0.54	$2.70	$2.28	$1.54	$1.64	$1.84	$2.93
Total Capital	0.00	24	175	188	177	563	388	263	288	681	825
Total Debt	0.00	0.00	26	27	143	359	189	93	93	453	455
Total Long-Term Debt	0.00	0.00	26	25	143	359	189	93	93	453	362
Net Debt	0.00	-25	-149	-149	-209	-520	-513	-460	-259	40	-12
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	1.69	5.42	1.10	1.52	0.67	0.40	0.31
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-1.13	-0.18	11	-45	-90	-9.91	-1.16	166	191	317
Debt-free Net Working Capital (DFNWC)	0.00	24	175	187	307	789	692	552	519	603	785
Net Working Capital (NWC)	0.00	24	175	185	307	789	692	552	519	603	691
Net Nonoperating Expense (NNE)	14	8.03	15	38	103	195	371	236	167	82	29
Net Nonoperating Obligations (NNO)	0.00	-25	-149	-149	-209	-520	-513	-460	-259	40	-12
Total Depreciation and Amortization (D&A)	0.00	0.00	0.03	0.65	2.94	16	2.46	2.01	2.08	3.36	4.05
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	-35.93%	-14.89%	-1.54%	41.97%	24.42%	31.60%
Debt-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	314.73%	1,039.92%	731.77%	130.80%	77.23%	78.19%
Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	314.73%	1,039.92%	731.77%	130.80%	77.23%	68.86%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($3.68)	($2.34)	($4.90)	($4.59)	($8.84)	($6.15)	$0.00	($1.60)	$0.18
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	50.37M	56.28M	75.32M	80.38M	97.73M	106.11M	0.00	123.91M	126.15M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($3.68)	($2.34)	($4.90)	($4.59)	($8.84)	($6.15)	$0.00	($1.60)	$0.20
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	50.37M	56.28M	75.32M	80.38M	97.73M	106.11M	0.00	123.91M	129.86M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	($3.68)	($2.34)	($4.90)	($4.59)	($8.84)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	13.87M	54.40M	62.23M	75.16M	84.42M	111.29M	0.00	125.52M	127.83M
Normalized Net Operating Profit after Tax (NOPAT)	-33	-19	-36	-90	-202	-150	-375	-416	-362	-115	51
Normalized NOPAT Margin	0.00%	0.00%	0.00%	0.00%	0.00%	-59.69%	-563.97%	-551.87%	-91.27%	-14.78%	5.13%
Pre Tax Income Margin	0.00%	0.00%	0.00%	0.00%	0.00%	-136.86%	-1,120.75%	-863.81%	-132.76%	-25.18%	2.40%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	-135.85	-50.92	-44.66	-10.60	-55.37	-19.23	-17.51	-4.19	1.25
NOPAT to Interest Expense	0.00	0.00	-94.83	-35.63	-29.71	-5.00	-28.35	-12.76	-12.24	-2.86	1.16
EBIT Less CapEx to Interest Expense	0.00	0.00	-135.85	-50.92	-44.90	-10.78	-55.46	-19.28	-17.53	-4.20	1.24
NOPAT Less CapEx to Interest Expense	0.00	0.00	-94.83	-35.63	-29.96	-5.18	-28.43	-12.80	-12.26	-2.87	1.15
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-0.20%	0.00%	0.00%	-0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Apellis Pharmaceuticals' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	127,829,909.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	127,829,909.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.14
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	400.54%	545.89%	284.26%	110.26%	78.29%	45.19%	-3.21%	-10.61%	132.98%	-5.94%	60.85%
EBITDA Growth	25.98%	48.76%	64.52%	74.42%	66.39%	67.88%	-32.85%	-4.56%	586.38%	-87.05%	133.36%
EBIT Growth	25.87%	48.60%	64.31%	73.97%	65.71%	66.87%	-33.40%	-5.65%	572.82%	-83.64%	131.81%
NOPAT Growth	10.37%	48.48%	64.54%	75.55%	65.51%	69.04%	-34.21%	-13.05%	772.47%	-95.45%	144.20%
Net Income Growth	26.68%	46.64%	62.64%	69.14%	59.04%	58.96%	-38.85%	-11.93%	475.52%	-62.16%	120.23%
EPS Growth	33.14%	53.95%	65.38%	70.59%	60.68%	57.14%	-37.04%	-10.00%	463.04%	-33.33%	120.27%
Operating Cash Flow Growth	-9.50%	30.46%	25.13%	94.45%	120.17%	119.78%	59.84%	153.30%	218.13%	-173.22%	-14.15%
Free Cash Flow Firm Growth	-186.25%	-105.25%	-91.21%	-137.62%	-63.11%	-23.50%	16.07%	117.50%	130.60%	64.54%	36.27%
Invested Capital Growth	58.59%	77.71%	112.53%	301.11%	326.96%	515.10%	686.99%	-33.67%	28.89%	33.10%	80.05%
Revenue Q/Q Growth	16.25%	32.59%	17.73%	15.88%	-1.43%	7.97%	-21.52%	7.01%	156.92%	-56.41%	34.21%
EBITDA Q/Q Growth	-14.35%	38.93%	25.88%	50.57%	-50.24%	41.65%	-206.56%	61.09%	798.86%	-122.44%	154.67%
EBIT Q/Q Growth	-14.26%	38.77%	25.76%	49.88%	-50.50%	40.84%	-198.93%	60.31%	773.57%	-122.98%	151.77%
NOPAT Q/Q Growth	-13.82%	38.34%	26.54%	52.58%	-60.58%	44.66%	-218.46%	60.05%	1,055.19%	-116.09%	172.02%
Net Income Q/Q Growth	-14.91%	36.84%	25.01%	43.31%	-52.55%	36.72%	-153.69%	54.30%	611.77%	-127.33%	131.65%
EPS Q/Q Growth	-14.71%	40.17%	22.86%	44.44%	-53.33%	34.78%	-146.67%	55.41%	606.06%	-123.95%	137.50%
Operating Cash Flow Q/Q Growth	-12.61%	42.11%	-35.87%	93.73%	508.87%	-43.22%	-375.88%	108.32%	2,340.23%	-113.07%	-330.06%
Free Cash Flow Firm Q/Q Growth	-17.76%	-2.69%	-18.52%	-65.79%	19.17%	22.25%	19.45%	134.56%	41.37%	-190.11%	-44.76%
Invested Capital Q/Q Growth	28.36%	49.53%	150.60%	999.28%	-19.16%	-7.68%	-4.07%	-7.35%	57.09%	-4.67%	29.76%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	-124.23%	-57.22%	-36.02%	-15.36%	-23.42%	-12.66%	-49.43%	-17.97%	48.89%	-25.17%	10.25%
Operating Margin	-124.17%	-57.74%	-36.03%	-14.74%	-24.02%	-12.31%	-49.96%	-18.65%	48.67%	-25.58%	9.86%
EBIT Margin	-124.71%	-57.59%	-36.32%	-15.71%	-23.99%	-13.14%	-50.06%	-18.57%	48.68%	-25.66%	9.90%
Profit (Net Income) Margin	-127.03%	-60.51%	-38.55%	-18.86%	-29.19%	-17.11%	-55.29%	-23.61%	47.04%	-29.49%	6.95%
Tax Burden Percent	100.17%	101.63%	100.26%	100.30%	101.04%	100.79%	100.37%	101.12%	99.72%	100.53%	97.41%
Interest Burden Percent	101.69%	103.38%	105.85%	119.69%	120.43%	129.13%	110.05%	125.78%	96.91%	114.32%	72.12%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.28%	0.00%	2.59%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	-71.69%	-147.69%	-66.02%	-186.75%	-32.89%	148.05%	-57.39%	29.42%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	-63.74%	-131.80%	-49.55%	-138.44%	-54.03%	99.28%	-224.04%	19.45%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	44.81%	86.07%	25.65%	45.08%	-22.91%	4.37%	-10.40%	4.80%
Return on Equity (ROE)	-224.59%	-290.14%	-122.94%	-26.88%	-61.62%	-40.36%	-141.66%	-55.80%	152.42%	-67.78%	34.22%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	-1,761.58%	-210.59%	-197.76%	-167.06%	-244.63%	-3.94%	-1.99%	-11.97%	-12.03%
Operating Return on Assets (OROA)	-40.25%	-29.49%	-21.02%	-10.85%	-19.95%	-12.27%	-47.38%	-16.24%	50.47%	-26.28%	11.58%
Return on Assets (ROA)	-40.99%	-30.99%	-22.31%	-13.03%	-24.27%	-15.97%	-52.34%	-20.65%	48.77%	-30.20%	8.13%
Return on Common Equity (ROCE)	-224.59%	-290.14%	-122.94%	-26.88%	-61.62%	-40.36%	-141.66%	-55.80%	152.42%	-67.78%	34.22%
Return on Equity Simple (ROE_SIMPLE)	-260.92%	0.00%	-156.47%	-125.94%	-105.47%	0.00%	-136.21%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-96	-59	-43	-21	-33	-18	-58	-23	223	-36	26
NOPAT Margin	-86.92%	-40.42%	-25.22%	-10.32%	-16.81%	-8.62%	-34.97%	-13.05%	48.53%	-17.91%	9.61%
Net Nonoperating Expense Percent (NNEP)	-9.06%	-8.18%	-5.06%	-7.95%	-15.89%	-16.47%	-48.31%	21.14%	48.77%	166.65%	9.98%
Return On Investment Capital (ROIC_SIMPLE)	-	-20.57%	-	-	-	-2.69%	-9.44%	-3.82%	26.01%	-4.34%	2.96%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	131.93%	96.81%	75.15%	64.14%	61.97%	57.16%	77.55%	73.47%	31.11%	73.58%	46.34%
R&D to Revenue	71.94%	47.33%	49.15%	39.04%	45.00%	35.93%	51.81%	37.54%	14.87%	37.13%	28.68%
Operating Expenses to Revenue	224.17%	157.74%	136.03%	114.74%	124.02%	112.31%	149.96%	118.65%	51.33%	125.58%	90.14%
Earnings before Interest and Taxes (EBIT)	-138	-84	-63	-31	-47	-28	-83	-33	223	-51	27
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-137	-84	-62	-31	-46	-27	-82	-32	224	-50	28
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	19.28	36.47	26.58	17.61	14.81	17.37	16.72	13.92	7.12	8.59	12.39
Price to Tangible Book Value (P/TBV)	19.28	36.47	26.58	17.61	14.81	17.37	16.72	13.92	7.12	8.59	12.39
Price to Revenue (P/Rev)	16.41	17.89	13.52	7.40	4.91	5.08	3.54	2.88	2.81	3.17	4.65
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	63.53	134.71	38.40
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.57%	0.74%	2.60%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	209.22	13.19	12.25	14.92	11.01	9.45	7.55	8.85	11.18
Enterprise Value to Revenue (EV/Rev)	15.09	17.23	13.08	7.56	4.99	5.13	3.66	2.99	2.79	3.15	4.70
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	34.22	53.34	30.66
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	36.01	57.26	31.40
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	36.55	61.51	31.87
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	502.81	35.91	69.85	137.46
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.40	0.48	0.35	1.73	1.91	1.98	2.76	2.90	1.13	1.23	1.10
Long-Term Debt to Equity	0.40	0.48	0.35	1.73	1.91	1.98	2.76	2.90	0.90	0.98	0.87
Financial Leverage	-1.81	-1.97	-1.34	-0.70	-0.65	-0.52	-0.33	0.42	0.04	0.05	0.25
Leverage Ratio	3.13	4.25	2.67	2.99	3.66	3.96	3.80	4.10	3.07	3.27	3.26
Compound Leverage Factor	3.19	4.39	2.82	3.57	4.41	5.11	4.19	5.16	2.98	3.74	2.35
Debt to Total Capital	28.58%	32.35%	25.88%	63.37%	65.60%	66.46%	73.41%	74.39%	53.13%	55.16%	52.36%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	10.93%	11.35%	10.76%
Long-Term Debt to Total Capital	28.58%	32.35%	25.88%	63.37%	65.60%	66.46%	73.41%	74.39%	42.19%	43.81%	41.59%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	71.42%	67.65%	74.12%	36.63%	34.40%	33.54%	26.59%	25.61%	46.87%	44.84%	47.64%
Debt to EBITDA	-0.16	-0.18	-0.23	-1.46	-2.03	-2.73	-2.44	-2.42	5.49	7.67	2.69
Net Debt to EBITDA	0.61	0.50	0.58	-0.31	-0.24	-0.24	-0.50	-0.44	-0.31	-0.21	0.29
Long-Term Debt to EBITDA	-0.16	-0.18	-0.23	-1.46	-2.03	-2.73	-2.44	-2.42	4.36	6.09	2.14
Debt to NOPAT	-0.22	-0.26	-0.33	-2.09	-2.89	-3.92	-3.48	-3.41	5.87	8.85	2.80
Net Debt to NOPAT	0.86	0.72	0.83	-0.44	-0.35	-0.35	-0.72	-0.62	-0.33	-0.24	0.30
Long-Term Debt to NOPAT	-0.22	-0.26	-0.33	-2.09	-2.89	-3.92	-3.48	-3.41	4.66	7.03	2.22
Altman Z-Score	0.56	3.07	3.88	1.31	-0.01	0.42	-1.43	-1.84	1.16	0.33	2.68
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	4.29	3.10	3.77	5.08	4.36	4.25	4.08	3.77	3.54	3.14	3.63
Quick Ratio	3.35	2.25	2.76	3.93	3.53	3.65	3.33	2.91	2.95	2.57	2.98
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-277	-285	-338	-560	-452	-352	-283	98	138	-125	-181
Operating Cash Flow to CapEx	-359,755.32%	-103,026.32%	-45,386.69%	-9,265.56%	0.00%	96,800.00%	-667,625.00%	9,071.43%	73,289.19%	-13,125.93%	0.00%
Free Cash Flow to Firm to Interest Expense	-37.95	-38.49	-48.46	-59.81	-36.11	-30.51	-25.65	8.78	12.28	-11.50	-17.50
Operating Cash Flow to Interest Expense	-23.13	-13.22	-19.09	-0.89	2.72	1.68	-4.83	0.40	9.62	-1.31	-5.91
Operating Cash Flow Less CapEx to Interest Expense	-23.14	-13.24	-19.13	-0.90	2.72	1.68	-4.83	0.39	9.60	-1.32	-5.91
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.32	0.51	0.58	0.69	0.83	0.93	0.95	0.87	1.04	1.02	1.17
Accounts Receivable Turnover	3.08	3.70	3.50	3.03	3.19	3.32	3.08	2.91	3.25	3.18	3.27
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	52.12	75.59	103.14	137.07	175.11	214.16	231.28	253.54	383.11	430.81	562.20
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	118.61	98.55	104.24	120.55	114.38	110.10	118.34	125.41	112.14	114.75	111.54
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	118.61	98.55	104.24	120.55	114.38	110.10	118.34	125.41	112.14	114.75	111.54
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-128	-65	33	360	291	269	258	239	375	358	464
Invested Capital Turnover	-1.25	-2.23	-4.58	6.95	8.78	7.66	5.34	2.52	3.05	3.20	3.06
Increase / (Decrease) in Invested Capital	181	226	294	539	419	334	225	-121	84	89	206
Enterprise Value (EV)	4,118	6,834	6,854	4,751	3,566	4,010	2,839	2,258	2,832	3,166	5,192
Market Capitalization	4,479	7,093	7,088	4,656	3,512	3,969	2,745	2,176	2,858	3,178	5,143
Book Value per Share	$1.97	$1.64	$2.21	$2.18	$1.95	$1.84	$1.31	$1.24	$3.18	$2.93	$3.25
Tangible Book Value per Share	$1.97	$1.64	$2.21	$2.18	$1.95	$1.84	$1.31	$1.24	$3.18	$2.93	$3.25
Total Capital	325	288	360	722	689	681	618	610	856	825	871
Total Debt	93	93	93	457	452	453	453	454	455	455	456
Total Long-Term Debt	93	93	93	457	452	453	453	454	361	362	362
Net Debt	-361	-259	-234	96	54	40	94	83	-26	-12	49
Capital Expenditures (CapEx)	0.05	0.10	0.29	0.09	0.00	0.02	0.01	0.05	0.15	0.11	0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	158	166	269	329	244	191	190	183	324	317	432
Debt-free Net Working Capital (DFNWC)	611	519	596	691	643	603	549	555	805	785	838
Net Working Capital (NWC)	611	519	596	691	643	603	549	555	711	691	745
Net Nonoperating Expense (NNE)	44	29	23	17	24	18	34	19	6.85	23	7.13
Net Nonoperating Obligations (NNO)	-361	-259	-234	96	54	40	94	83	-26	-12	49
Total Depreciation and Amortization (D&A)	0.54	0.55	0.52	0.69	1.12	1.03	1.04	1.06	0.98	0.98	0.95
Debt-free, Cash-free Net Working Capital to Revenue	57.77%	41.97%	51.35%	52.38%	34.17%	24.42%	24.43%	24.31%	31.89%	31.60%	39.05%
Debt-free Net Working Capital to Revenue	223.96%	130.80%	113.75%	109.86%	89.85%	77.23%	70.81%	73.54%	79.17%	78.19%	75.85%
Net Working Capital to Revenue	223.96%	130.80%	113.75%	109.86%	89.85%	77.23%	70.81%	73.54%	69.97%	68.86%	67.37%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($1.17)	($0.70)	($0.54)	($0.30)	($0.46)	($0.30)	($0.74)	($0.33)	$1.71	($0.46)	$0.15
Adjusted Weighted Average Basic Shares Outstanding	120.29M	118.68M	122.96M	123.90M	124.23M	123.91M	125.45M	126.02M	126.42M	126.15M	127.68M
Adjusted Diluted Earnings per Share	($1.17)	($0.70)	($0.54)	($0.30)	($0.46)	($0.30)	($0.74)	($0.33)	$1.67	($0.40)	$0.15
Adjusted Weighted Average Diluted Shares Outstanding	120.29M	118.68M	122.96M	123.90M	124.23M	123.91M	125.45M	126.02M	130.07M	129.86M	131.42M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	118.50M	120.58M	121.37M	121.77M	124.39M	125.52M	125.68M	126.29M	126.53M	127.83M	128.02M
Normalized Net Operating Profit after Tax (NOPAT)	-96	-59	-43	-21	-33	-18	-58	-23	223	-36	26
Normalized NOPAT Margin	-86.92%	-40.42%	-25.22%	-10.32%	-16.81%	-8.62%	-34.97%	-13.05%	48.53%	-17.91%	9.61%
Pre Tax Income Margin	-126.82%	-59.54%	-38.45%	-18.80%	-28.88%	-16.97%	-55.09%	-23.35%	47.17%	-29.33%	7.14%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-18.83	-11.39	-8.98	-3.35	-3.77	-2.42	-7.56	-2.97	19.79	-4.73	2.57
NOPAT to Interest Expense	-13.13	-7.99	-6.24	-2.20	-2.64	-1.59	-5.28	-2.09	19.73	-3.30	2.50
EBIT Less CapEx to Interest Expense	-18.84	-11.40	-9.03	-3.36	-3.77	-2.42	-7.56	-2.98	19.78	-4.74	2.57
NOPAT Less CapEx to Interest Expense	-13.13	-8.01	-6.28	-2.21	-2.64	-1.59	-5.28	-2.09	19.72	-3.31	2.50
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Here are the key takeaways for Apellis Pharmaceuticals (APLS) based on the latest quarterly data provided, focusing on the last four years of quarterly results. The period shows revenue volatility, ongoing losses, and varying cash flow, with a notable profit spike in one quarter (2025 Q3).

Q3 2025 profit spike: Net income from continuing operations was about $215.7 million, with a diluted earnings per share of $1.67 (and basic $1.71), driven by a Total Pre-Tax Income of $216.3 million and a modest tax expense of $0.6 million.
Strong quarterly revenue in Q3 2025: Operating revenue reached $458.6 million (Total Revenue also $458.6 million), with Total Operating Income of $223.183 million and Total Gross Profit of $458.578 million.
Positive operating cash flow in Q3 2025: Net cash from continuing operating activities was $108.47 million (net cash from operating activities also $108.47 million), signaling meaningful quarterly cash generation despite a history of cash burn in other periods.
Capital-raising activity observed in the period: Equity financing activities occurred across quarters (including issuance of common equity in Q4 2025), indicating ongoing access to capital markets to support liquidity.
Balance sheet snapshot in 2025 Q3: Total assets about $1.0587 billion; total liabilities about $657.6 million; total equity around $401.2 million. Retained earnings were heavily negative (around -$2.95 billion), signaling large historical losses despite a modest current equity cushion.
Ongoing high operating expense base: In Q4 2025, Selling, General & Administrative expenses were about $147.1 million and R&D expense about $74.2 million, contributing to total operating expenses of roughly $251.1 million.
Q4 2025 swing back to a loss: Net income (consolidated) was -$58.95 million, with Total Pre-Tax Income at -$58.64 million and a small income tax expense of $0.313 million. EPS dropped to -$0.46 (basic) and -$0.40 (diluted).
Ongoing cash burn in earlier 2025 quarters: Operating cash flow was negative in Q1 2025 (-$53.41 million) and Q2 2025 (-$8.46 million), with continued negative cash movement in Q4 2025 (-$14.18 million from continuing operations) and a negative net change in cash for most quarters, indicating persistent cash burn outside the standout Q3 period.
Volatility in quarterly results: The period shows dramatic swings—from a profitable Q3 2025 to losses in adjacent quarters—suggesting that non-operating items and one-time effects can heavily influence quarterly results and make year-over-year comparisons noisy.

05/20/26 05:29 AM ETAI Generated. May Contain Errors.

Apellis Pharmaceuticals Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Apellis Pharmaceuticals' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Apellis Pharmaceuticals' net income appears to be on an upward trend, with a most recent value of $22.39 million in 2025, falling from -$46.52 million in 2015. The previous period was -$197.88 million in 2024. See Apellis Pharmaceuticals' forecast for analyst expectations on what's next for the company.

Apellis Pharmaceuticals' total operating income in 2025 was $55.43 million, based on the following breakdown:

Total Gross Profit: $1.00 billion
Total Operating Expenses: $948.36 million

Over the last 10 years, Apellis Pharmaceuticals' total revenue changed from $0.00 in 2015 to $1.00 billion in 2025, a change of 100,378,200,000.0%.

Apellis Pharmaceuticals' total liabilities were at $705.11 million at the end of 2025, a 7.4% increase from 2024, and a 19,276.8% increase since 2016.

In the past 9 years, Apellis Pharmaceuticals' cash and equivalents has ranged from $24.86 million in 2016 to $640.19 million in 2021, and is currently $466.23 million as of their latest financial filing in 2025.

Over the last 10 years, Apellis Pharmaceuticals' book value per share changed from 0.00 in 2015 to 2.93 in 2025, a change of 292.6%.

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Financial statements for NASDAQ:APLS last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Apellis Pharmaceuticals (APLS) Financials

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Apellis Pharmaceuticals (APLS) Financials

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