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Axsome Therapeutics (AXSM) Financials

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$213.67 -0.01 (0.00%)
Closing price 08/14/2026 04:00 PM Eastern
Extended Trading
$213.03 -0.64 (-0.30%)
As of 08/14/2026 07:58 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Axsome Therapeutics

Annual Income Statements for Axsome Therapeutics

This table shows Axsome Therapeutics' 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		 -12 -27 -29 -31 -68 -103 -130 -187 -239 -287 -183
Consolidated Net Income / (Loss)		 -12 -27 -29 -31 -68 -103 -130 -187 -239 -287 -183
Net Income / (Loss) Continuing Operations		 -12 -27 -29 -31 -68 -103 -130 -187 -239 -287 -183
Total Pre-Tax Income 		-12 -28 -29 -31 -68 -103 -130 -187 -238 -287 -184
Total Operating Income		 -9.20 -28 -27 -33 -67 -99 -125 -180 -232 -281 -167
Total Gross Profit		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 45 245 352 591
Total Revenue		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 50 271 386 638
Operating Revenue		 - - - - - 0.00 0.00 50 271 386 638
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5.20 26 33 47
Operating Cost of Revenue		 - - - - - 0.00 0.00 5.20 26 33 47
Total Operating Expenses		 9.20 28 27 33 67 99 125 225 476 633 758
Selling, General & Admin Expense		 2.42 6.34 7.21 9.35 14 29 67 159 323 411 571
Research & Development Expense		 6.78 21 20 23 54 70 58 58 98 187 183
Amortization Expense		 - - - - - 0.00 0.00 4.14 6.38 6.39 6.38
Other Operating Expenses / (Income)		 - - - - - 0.00 0.00 3.30 49 28 -2.47
Total Other Income / (Expense), net		 -3.29 -0.13 -1.99 1.66 -1.24 -3.81 -5.70 -7.34 -6.45 -6.57 -17
Interest Expense		 2.44 - - 0.00 0.00 1.25 - - 0.00 0.00 10
Interest & Investment Income		 -0.74 -0.13 -1.34 -1.13 -1.24 -2.57 -5.70 -7.34 -6.45 -6.57 -6.56
Income Tax Expense		 - - - -0.22 - -0.05 0.00 0.00 0.96 0.09 -0.53
Other Gains / (Losses), net		 0.00 0.47 0.21 - 0.14 - 0.00 0.00 0.00 0.00 0.00
Basic Earnings per Share		 ($1.02) ($1.42) ($1.27) ($1.15) ($2.01) ($2.77) ($3.47) ($4.60) ($5.27) ($5.99) ($3.68)
Weighted Average Basic Shares Outstanding		 11.95M 19.15M 22.76M 26.88M 34.02M 37.21M 37.62M 40.66M 45.43M 47.91M 49.75M
Diluted Earnings per Share		 ($1.02) ($1.42) ($1.27) ($1.15) ($2.01) ($2.77) ($3.47) ($4.60) ($5.27) ($5.99) ($3.68)
Weighted Average Diluted Shares Outstanding		 11.95M 19.15M 22.76M 26.88M 34.02M 37.21M 37.62M 40.66M 45.43M 47.91M 49.75M
Weighted Average Basic & Diluted Shares Outstanding		 11.95M 19.15M 22.76M 26.88M 34.02M 37.21M 37.62M 43.52M 47.37M 48.77M 51.15M

Quarterly Income Statements for Axsome Therapeutics

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 -99 -68 -79 -65 -75 -59 -48 -47 -29 -65 -51
Consolidated Net Income / (Loss)		 -99 -68 -79 -65 -75 -59 -48 -47 -29 -65 -51
Net Income / (Loss) Continuing Operations		 -99 -68 -79 -65 -75 -59 -48 -47 -29 -65 -51
Total Pre-Tax Income 		-99 -68 -79 -65 -75 -59 -49 -47 -28 -65 -51
Total Operating Income		 -98 -67 -78 -63 -73 -57 -37 -46 -27 -63 -50
Total Gross Profit		 64 69 79 96 108 112 137 159 184 176 205
Total Revenue		 72 75 87 105 119 121 150 171 196 191 218
Operating Revenue		 72 75 87 105 119 121 150 171 196 191 218
Total Cost of Revenue		 7.38 6.30 8.06 8.44 11 9.79 13 12 12 15 14
Operating Cost of Revenue		 7.38 6.30 8.06 8.44 11 9.79 13 12 12 15 14
Total Operating Expenses		 162 136 157 159 181 169 173 205 211 240 254
Selling, General & Admin Expense		 87 99 104 96 113 121 130 150 169 185 208
Research & Development Expense		 31 37 50 45 55 45 50 40 49 53 46
Amortization Expense		 1.61 1.59 1.59 1.61 1.61 1.57 1.59 1.61 1.61 1.57 1.59
Other Operating Expenses / (Income)		 43 -1.41 2.16 16 11 1.51 -8.10 13 -9.07 0.59 -1.50
Total Other Income / (Expense), net		 -0.70 -1.08 -1.30 -1.98 -2.21 -2.43 -12 -1.12 -1.17 -1.19 -1.54
Interest Expense		 - - 0.00 0.00 - - 10 0.00 - - 0.00
Interest & Investment Income		 -0.70 -1.08 -1.30 -1.98 -2.21 -2.43 -1.83 -1.12 -1.17 -1.19 -1.54
Income Tax Expense		 -0.33 0.00 0.00 0.00 0.09 0.00 -0.96 0.00 0.43 0.00 0.13
Basic Earnings per Share		 ($2.15) ($1.44) ($1.67) ($1.34) ($1.54) ($1.22) ($0.97) ($0.94) ($0.55) ($1.26) ($0.99)
Weighted Average Basic Shares Outstanding		 45.43M 47.39M 47.57M 48.14M 47.91M 48.87M 49.44M 50.02M 49.75M 51.20M 51.80M
Diluted Earnings per Share		 ($2.15) ($1.44) ($1.67) ($1.34) ($1.54) ($1.22) ($0.97) ($0.94) ($0.55) ($1.26) ($0.99)
Weighted Average Diluted Shares Outstanding		 45.43M 47.39M 47.57M 48.14M 47.91M 48.87M 49.44M 50.02M 49.75M 51.20M 51.80M
Weighted Average Basic & Diluted Shares Outstanding		 47.37M 47.50M 48.00M 48.46M 48.77M 49.24M 49.90M 50.41M 51.15M 51.46M 52.38M

Annual Cash Flow Statements for Axsome Therapeutics

This table details how cash moves in and out of Axsome Therapeutics' 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		 45 -11 -2.60 -20 206 -36 -97 114 185 -71 7.58
Net Cash From Operating Activities		 -7.44 -21 -26 -30 -46 -78 -108 -117 -145 -128 -93
Net Cash From Continuing Operating Activities		 -7.44 -21 -26 -30 -46 -78 -108 -117 -145 -128 -93
Net Income / (Loss) Continuing Operations		 -12 -27 -29 -31 -68 -103 -130 -187 -239 -287 -183
Consolidated Net Income / (Loss)		 -12 -27 -29 -31 -68 -103 -130 -187 -239 -287 -183
Depreciation Expense		 0.00 0.02 0.04 0.05 0.04 0.02 0.08 0.26 0.46 0.53 0.50
Amortization Expense		 0.05 0.07 0.47 0.38 0.65 0.84 1.08 5.62 8.95 10 9.86
Non-Cash Adjustments To Reconcile Net Income		 3.78 2.03 2.72 -1.04 6.12 23 21 41 113 115 102
Changes in Operating Assets and Liabilities, net		 0.94 3.80 -0.81 1.52 15 0.41 0.32 24 -28 33 -23
Net Cash From Investing Activities		 -0.02 -0.10 -0.01 -0.03 -0.02 -0.05 -0.31 -54 -0.58 -0.27 -0.48
Net Cash From Continuing Investing Activities		 -0.02 -0.10 -0.01 -0.03 -0.02 -0.05 -0.31 -54 -0.58 -0.27 -0.48
Purchase of Property, Plant & Equipment		 -0.02 -0.10 -0.01 -0.03 -0.02 -0.05 -0.31 -0.70 -0.58 -0.27 -0.48
Acquisitions		 - - - - - 0.00 0.00 -53 0.00 0.00 0.00
Net Cash From Financing Activities		 53 9.97 24 10 252 42 11 285 331 58 101
Net Cash From Continuing Financing Activities		 53 9.97 24 10 252 42 11 285 331 58 101
Repayment of Debt		 0.00 -0.06 -0.28 -3.36 -7.24 -23 -0.31 -0.49 -1.44 0.00 -336
Repurchase of Common Equity		 - - - - 0.00 - -0.22 -6.98 -16 -0.82 -1.20
Issuance of Debt		 7.44 10 0.00 0.00 20 50 0.00 45 85 0.00 330
Issuance of Common Equity		 46 0.00 24 13 238 14 7.44 250 271 41 127
Other Financing Activities, net		 0.00 0.03 0.48 0.51 1.39 1.05 4.23 -2.97 -8.05 18 -19
Cash Interest Paid		 - 0.05 0.87 0.77 1.29 2.10 4.63 7.69 17 20 15

Quarterly Cash Flow Statements for Axsome Therapeutics

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
Net Change in Cash & Equivalents		 -30 -55 -16 12 -12 -14 2.11 22 -2.34 -18 15
Net Cash From Operating Activities		 -30 -53 -30 -19 -26 -43 -32 1.05 -19 -21 -33
Net Cash From Continuing Operating Activities		 -30 -53 -30 -19 -26 -43 -32 1.05 -19 -21 -33
Net Income / (Loss) Continuing Operations		 -99 -68 -79 -65 -75 -59 -48 -47 -29 -65 -51
Consolidated Net Income / (Loss)		 -99 -68 -79 -65 -75 -59 -48 -47 -29 -65 -51
Depreciation Expense		 0.13 0.13 0.14 0.13 0.13 0.15 0.12 0.12 0.11 0.12 0.14
Amortization Expense		 2.06 2.32 2.49 2.60 2.65 2.65 2.44 2.45 2.32 2.41 2.91
Non-Cash Adjustments To Reconcile Net Income		 63 19 24 38 33 23 27 37 15 25 27
Changes in Operating Assets and Liabilities, net		 3.43 -6.70 23 5.08 13 -9.94 -14 8.78 -7.36 16 -11
Net Cash From Investing Activities		 -0.01 -0.10 -0.05 -0.09 -0.03 -0.34 -0.01 -0.06 -0.07 -0.12 -0.45
Net Cash From Continuing Investing Activities		 -0.01 -0.10 -0.05 -0.09 -0.03 -0.34 -0.01 -0.06 -0.07 -0.12 -0.45
Purchase of Property, Plant & Equipment		 -0.01 -0.10 -0.05 -0.09 -0.03 -0.34 -0.01 -0.06 -0.07 -0.12 -0.45
Net Cash From Financing Activities		 -0.00 -1.19 14 30 14 29 35 21 16 2.99 48
Net Cash From Continuing Financing Activities		 -0.00 -1.19 14 30 14 29 35 21 16 2.99 48
Repayment of Debt		 0.86 - - - - 0.00 - -70 -70 -70 -70
Repurchase of Common Equity		 - 0.00 - -0.26 -0.33 -0.39 -0.52 -0.19 -0.10 -0.10 -0.20
Issuance of Debt		 - - - - - 0.00 - 70 70 70 70
Issuance of Common Equity		 -11 0.00 - 43 18 37 61 25 21 6.34 13
Other Financing Activities, net		 10 -1.19 3.34 -12 -2.99 -7.02 -21 -4.01 -4.53 -3.25 35
Cash Interest Paid		 4.87 4.90 5.01 5.02 4.76 4.59 3.77 3.22 3.05 2.93 3.04

Annual Balance Sheets for Axsome Therapeutics

This table presents Axsome Therapeutics' assets and liabilities at the end of each period, using annual balance sheet 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
Total Assets		 49 38 36 15 221 186 88 331 588 568 690
Total Current Assets		 49 38 35 15 220 184 87 246 504 485 589
Cash & Equivalents		 48 37 34 14 220 184 86 201 386 315 323
Accounts Receivable		 - - - - - - 0.00 38 95 142 224
Inventories, net		 - - - - - - 0.00 4.32 15 16 28
Prepaid Expenses		 1.00 1.38 1.28 1.25 0.41 0.15 0.05 2.78 8.12 12 14
Plant, Property, & Equipment, net		 0.02 0.10 0.07 0.05 0.03 0.05 0.28 0.72 0.85 0.58 0.56
Total Noncurrent Assets		 0.03 0.11 0.19 0.11 0.14 2.06 0.98 85 83 83 100
Goodwill		 - - - - - - 0.00 10 12 12 12
Intangible Assets		 - - - - - - 0.00 60 53 47 41
Other Noncurrent Operating Assets		 0.03 0.11 0.19 0.11 0.14 2.06 0.98 15 18 24 48
Total Liabilities & Shareholders' Equity		 49 38 36 15 221 186 88 331 588 568 690
Total Liabilities		 2.63 17 19 14 42 72 72 222 397 511 602
Total Current Liabilities		 2.63 7.17 12 11 24 23 23 97 139 230 379
Short-Term Debt		 0.00 0.27 3.27 3.29 2.60 - 0.00 5.90 6.41 8.29 80
Accounts Payable		 2.63 6.90 6.11 7.53 22 22 22 90 131 220 298
Other Current Liabilities		 - 0.00 2.79 - 0.00 1.22 0.62 0.43 1.27 1.84 0.43
Total Noncurrent Liabilities		 0.00 9.47 6.66 3.62 17 49 49 125 258 281 223
Long-Term Debt		 0.00 9.47 6.66 3.62 17 48 49 94 178 181 118
Other Noncurrent Operating Liabilities		 - - - - 0.00 0.58 0.00 31 80 98 105
Total Equity & Noncontrolling Interests		 46 22 17 0.94 179 114 16 110 191 57 88
Total Preferred & Common Equity		 46 22 17 0.94 179 114 16 110 191 57 88
Preferred Stock		 - - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 46 22 17 0.94 179 114 16 110 191 57 88
Common Stock		 67 69 93 108 355 393 425 706 1,027 1,180 1,394
Retained Earnings		 -20 -48 -77 -108 -176 -279 -409 -596 -836 -1,123 -1,306

Quarterly Balance Sheets for Axsome Therapeutics

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

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
Total Assets		 389 612 601 546 548 561 597 640 669 714 761
Total Current Assets		 304 520 512 460 463 479 495 537 565 611 657
Cash & Equivalents		 247 437 417 331 316 327 301 303 325 305 320
Accounts Receivable		 45 67 78 101 120 124 161 199 197 251 277
Inventories, net		 7.94 9.25 9.99 16 15 14 16 18 24 32 38
Prepaid Expenses		 5.20 5.91 6.80 12 12 13 16 16 20 24 21
Plant, Property, & Equipment, net		 0.70 0.74 0.97 0.81 0.72 0.68 0.77 0.67 0.61 0.57 0.87
Total Noncurrent Assets		 84 91 88 84 84 82 101 102 103 102 104
Goodwill		 10 12 12 12 12 12 12 12 12 12 12
Intangible Assets		 58 57 55 52 50 49 45 44 42 39 37
Other Noncurrent Operating Assets		 16 23 21 21 22 21 44 47 49 51 55
Total Liabilities & Shareholders' Equity		 389 612 601 546 548 561 597 640 669 714 761
Total Liabilities		 277 333 331 402 445 469 543 567 596 659 678
Total Current Liabilities		 101 115 115 144 187 196 244 342 360 439 460
Short-Term Debt		 6.00 6.34 6.67 6.39 7.04 8.13 8.60 79 80 81 81
Accounts Payable		 95 108 108 137 178 186 235 263 280 357 379
Other Current Liabilities		 0.11 0.35 0.44 1.15 1.42 1.63 0.45 0.34 0.74 0.63 0.65
Total Noncurrent Liabilities		 177 218 217 258 259 272 300 225 235 220 218
Long-Term Debt		 148 177 177 179 179 180 181 118 118 118 118
Other Noncurrent Operating Liabilities		 29 41 39 77 76 89 114 103 113 96 100
Total Equity & Noncontrolling Interests		 112 279 270 144 103 93 53 73 74 55 83
Total Preferred & Common Equity		 112 279 270 144 103 93 53 73 74 55 83
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		 112 279 270 144 103 93 53 73 74 55 83
Common Stock		 719 954 1,006 1,048 1,086 1,141 1,235 1,303 1,351 1,425 1,505
Retained Earnings		 -608 -675 -737 -904 -983 -1,048 -1,182 -1,230 -1,277 -1,371 -1,422

Annual Metrics And Ratios for Axsome Therapeutics

This table displays calculated financial ratios and metrics derived from Axsome Therapeutics' 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% 0.00% 0.00% 440.80% 42.53% 65.55%
EBITDA Growth		 -12.35% -196.76% 0.57% -8.55% -124.62% -47.66% -25.72% -40.76% -27.89% -21.38% 42.07%
EBIT Growth		 -62.41% -196.01% -0.97% -8.07% -123.74% -47.43% -25.79% -44.18% -28.94% -21.02% 40.56%
NOPAT Growth		 -62.13% -199.51% 1.38% -20.92% -104.72% -47.43% -25.79% -44.18% -28.94% -21.02% 40.56%
Net Income Growth		 -103.49% -122.77% -6.40% -6.99% -120.71% -50.56% -26.73% -43.50% -27.84% -20.05% 36.22%
EPS Growth		 -54.55% -39.22% 10.56% 9.45% -74.78% -37.81% -25.27% -32.56% -14.57% -13.66% 38.56%
Operating Cash Flow Growth		 -61.84% -186.08% -24.39% -13.53% -54.31% -69.18% -37.94% -7.66% -24.52% 11.49% 27.26%
Free Cash Flow Firm Growth		 0.00% -221.23% -8.90% -43.03% -31.51% -116.25% -26.63% -79.24% 8.83% 1.36% -6.91%
Invested Capital Growth		 0.00% -233.38% -38.89% 16.98% -248.18% -2.13% 0.04% 140.79% -221.03% -518.31% 50.79%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 94.95% 21.11% 13.96% 13.76%
EBITDA Q/Q Growth		 0.00% -18.57% 0.00% 0.00% -28.81% 15.47% -26.71% -17.24% -20.74% 8.86% 22.47%
EBIT Q/Q Growth		 0.00% -18.89% 0.00% 0.00% -28.66% 15.23% -26.33% -17.91% -19.83% 8.38% 21.49%
NOPAT Q/Q Growth		 0.00% -19.38% 0.00% 0.00% -28.66% 15.23% -26.33% -17.91% -19.83% 8.38% 21.49%
Net Income Q/Q Growth		 0.00% -17.06% 0.00% 0.00% -28.63% 14.01% -24.83% -17.05% -18.54% 7.63% 20.20%
EPS Q/Q Growth		 0.00% -10.94% 0.00% 0.00% -24.07% -2.59% -3.27% -13.30% -15.57% 9.24% 21.20%
Operating Cash Flow Q/Q Growth		 0.00% -30.44% 3.38% -13.19% -20.14% -3.96% -8.29% 1.08% -1.97% 3.14% 7.48%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 13.66% -33.41% 2.34% -0.66% -5.08% -5.57%
Invested Capital Q/Q Growth		 0.00% 6.97% 0.00% 0.00% -24.89% -14.10% 4.30% -71.15% -128.98% -53.14% 34.03%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 89.61% 90.37% 91.37% 92.56%
EBITDA Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -347.57% -82.19% -69.99% -24.49%
Operating Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -359.33% -85.67% -72.74% -26.12%
EBIT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -359.33% -85.67% -72.74% -26.12%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -373.99% -88.41% -74.47% -28.69%
Tax Burden Percent		 97.80% 98.29% 99.29% 99.30% 99.80% 99.95% 100.00% 100.00% 100.40% 100.03% 99.71%
Interest Burden Percent		 134.18% 100.48% 104.82% 103.75% 101.84% 103.85% 104.57% 104.08% 102.78% 102.34% 110.16%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -26.29% -79.99% -151.19% -350.78% -76.08% -70.36% -201.51% -298.97% -159.21% -231.63% -252.11%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -1,763.61% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -85.77% -50.41% -48.51% -26.51%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -89.27% -52.02% -49.66% -29.11%
Return on Common Equity (ROCE)		 -26.29% -79.99% -151.19% -350.78% -76.08% -70.36% -201.51% -298.97% -159.21% -231.63% -252.11%
Return on Equity Simple (ROE_SIMPLE)		 -26.29% -126.10% -173.14% -3,301.50% -38.24% -90.43% -834.29% -170.81% -125.27% -503.76% 0.00%
Net Operating Profit after Tax (NOPAT)		 -6.44 -19 -19 -23 -47 -69 -87 -126 -162 -196 -117
NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -251.53% -59.97% -50.92% -18.28%
Net Nonoperating Expense Percent (NNEP)		 -24.04% -21.15% -38.96% -51.20% -20.55% -19.97% -49.85% -88.76% -50.90% -55.87% -54.37%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - -60.01% -43.22% -78.89% -40.22%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 10.39% 9.63% 8.63% 7.44%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 318.27% 119.41% 106.65% 89.37%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 115.81% 36.20% 48.50% 28.70%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 448.94% 176.04% 164.11% 118.68%
Earnings before Interest and Taxes (EBIT)		 -9.30 -28 -28 -30 -67 -99 -125 -180 -232 -281 -167
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -9.25 -27 -27 -30 -67 -98 -124 -174 -222 -270 -156
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 5.99 7.93 89.64 19.96 26.74 91.10 30.57 19.72 71.92 104.28
Price to Tangible Book Value (P/TBV)		 0.00 5.99 7.93 89.64 19.96 26.74 91.10 84.61 29.97 0.00 257.66
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 66.94 13.92 10.63 14.42
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 0.00
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% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 366.14 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 64.93 13.17 10.31 14.23
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 0.00
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 0.00
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 0.00
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 0.00
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 0.45 0.59 7.37 0.11 0.42 3.14 0.91 0.97 3.37 2.29
Long-Term Debt to Equity		 0.00 0.44 0.40 3.86 0.10 0.42 3.14 0.86 0.93 3.22 1.38
Financial Leverage		 -1.03 -1.10 -1.33 -1.76 -1.15 -1.15 -1.34 -1.10 -1.01 -1.31 -1.68
Leverage Ratio		 1.06 1.28 1.93 2.89 1.31 1.39 2.12 3.35 3.06 4.66 8.66
Compound Leverage Factor		 1.42 1.29 2.02 2.99 1.34 1.44 2.21 3.49 3.15 4.77 9.54
Debt to Total Capital		 0.00% 31.11% 37.27% 88.05% 10.03% 29.81% 75.85% 47.76% 49.13% 77.10% 69.58%
Short-Term Debt to Total Capital		 0.00% 0.86% 12.27% 41.94% 1.31% 0.00% 0.00% 2.81% 1.71% 3.33% 27.57%
Long-Term Debt to Total Capital		 0.00% 30.25% 25.00% 46.11% 8.72% 29.81% 75.85% 44.95% 47.43% 73.77% 42.01%
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		 100.00% 68.89% 62.73% 11.95% 89.97% 70.19% 24.15% 52.24% 50.87% 22.90% 30.42%
Debt to EBITDA		 0.00 -0.35 -0.36 -0.23 -0.30 -0.49 -0.40 -0.58 -0.83 -0.71 -1.29
Net Debt to EBITDA		 0.00 0.98 0.88 0.24 3.01 1.38 0.30 0.58 0.91 0.46 0.77
Long-Term Debt to EBITDA		 0.00 -0.35 -0.24 -0.12 -0.26 -0.49 -0.40 -0.54 -0.80 -0.68 -0.78
Debt to NOPAT		 0.00 -0.51 -0.52 -0.30 -0.42 -0.70 -0.56 -0.80 -1.14 -0.98 -1.73
Net Debt to NOPAT		 0.00 1.39 1.27 0.31 4.25 1.95 0.43 0.80 1.24 0.63 1.04
Long-Term Debt to NOPAT		 0.00 -0.49 -0.35 -0.16 -0.37 -0.70 -0.56 -0.75 -1.10 -0.94 -1.04
Altman Z-Score		 0.00 1.51 -0.59 -12.40 50.11 22.41 1.49 5.44 3.60 1.63 7.03
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		 18.63 5.30 2.90 1.41 9.00 7.85 3.75 2.54 3.63 2.11 1.55
Quick Ratio		 18.25 5.11 2.79 1.29 8.98 7.85 3.75 2.47 3.46 1.99 1.44
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -4.85 -16 -17 -24 -32 -69 -87 -156 -143 -141 -150
Operating Cash Flow to CapEx		 -36,835.81% -20,353.00% -267,444.45% -91,918.59% -287,668.62% -170,962.87% -35,138.31% -16,597.01% -24,927.84% -47,559.26% -19,459.38%
Free Cash Flow to Firm to Interest Expense		 -1.98 0.00 0.00 0.00 0.00 -55.29 0.00 0.00 0.00 0.00 -14.49
Operating Cash Flow to Interest Expense		 -3.04 0.00 0.00 0.00 0.00 -62.92 0.00 0.00 0.00 0.00 -8.99
Operating Cash Flow Less CapEx to Interest Expense		 -3.05 0.00 0.00 0.00 0.00 -62.95 0.00 0.00 0.00 0.00 -9.04
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.24 0.59 0.67 1.01
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4.08 3.26 3.48
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.68 2.16 2.17
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 99.49 345.15 539.43 1,114.30
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.09 0.24 0.19 0.18
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 89.37 112.06 104.75
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 136.22 169.15 167.86
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3,956.17 1,550.29 1,924.37 1,992.57
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -3,956.17 -1,324.70 -1,643.17 -1,719.96
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -1.59 -5.31 -7.37 -6.12 -21 -22 -22 8.87 -11 -66 -33
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -7.77 -290.03 -10.00 -12.89
Increase / (Decrease) in Invested Capital		 -1.59 -3.72 -2.06 1.25 -15 -0.45 0.01 31 -20 -56 34
Enterprise Value (EV)		 0.00 102 108 77 3,367 2,907 1,387 3,249 3,564 3,977 9,086
Market Capitalization		 0.00 129 133 84 3,567 3,042 1,424 3,349 3,766 4,100 9,207
Book Value per Share		 $3.89 $1.13 $0.71 $0.03 $5.18 $3.06 $0.41 $2.52 $4.04 $1.18 $1.75
Tangible Book Value per Share		 $3.89 $1.13 $0.71 $0.03 $5.18 $3.06 $0.41 $0.91 $2.66 ($0.04) $0.71
Total Capital		 46 31 27 7.85 199 162 65 210 375 249 290
Total Debt		 0.00 9.74 9.93 6.91 20 48 49 100 184 192 202
Total Long-Term Debt		 0.00 9.47 6.66 3.62 17 48 49 94 178 184 122
Net Debt		 -48 -27 -24 -7.06 -200 -136 -37 -101 -202 -123 -121
Capital Expenditures (CapEx)		 0.02 0.10 0.01 0.03 0.02 0.05 0.31 0.70 0.58 0.27 0.48
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -1.64 -5.52 -7.63 -6.28 -21 -23 -23 -46 -14 -52 -33
Debt-free Net Working Capital (DFNWC)		 46 31 26 7.68 198 161 63 155 372 263 290
Net Working Capital (NWC)		 46 31 23 4.39 196 161 63 149 365 255 210
Net Nonoperating Expense (NNE)		 5.77 7.92 9.93 7.97 21 34 43 61 77 91 66
Net Nonoperating Obligations (NNO)		 -48 -27 -24 -7.06 -200 -136 -37 -101 -202 -123 -121
Total Depreciation and Amortization (D&A)		 0.05 0.09 0.51 0.42 0.69 0.86 1.15 5.89 9.41 11 10
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -91.65% -5.31% -13.51% -5.13%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 309.73% 137.40% 68.25% 45.44%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 297.94% 135.04% 66.10% 32.91%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($1.02) ($1.42) ($1.27) ($1.15) ($2.01) ($2.77) ($3.47) ($4.60) ($5.27) ($5.99) ($3.68)
Adjusted Weighted Average Basic Shares Outstanding		 11.95M 19.20M 25.49M 33.28M 37.08M 37.41M 38.48M 40.66M 45.43M 47.91M 49.75M
Adjusted Diluted Earnings per Share		 ($1.02) ($1.42) ($1.27) ($1.15) ($2.01) ($2.77) ($3.47) ($4.60) ($5.27) ($5.99) ($3.68)
Adjusted Weighted Average Diluted Shares Outstanding		 11.95M 19.20M 25.49M 33.28M 37.08M 37.41M 38.48M 40.66M 45.43M 47.91M 49.75M
Adjusted Basic & Diluted Earnings per Share		 ($1.02) ($1.42) ($1.27) ($1.15) ($2.01) ($2.77) ($3.47) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 11.95M 19.15M 22.76M 26.88M 34.02M 37.21M 37.62M 43.52M 47.37M 48.77M 51.15M
Normalized Net Operating Profit after Tax (NOPAT)		 -6.44 -19 -19 -23 -47 -69 -87 -126 -162 -196 -117
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -251.53% -59.97% -50.92% -18.28%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -373.99% -88.06% -74.45% -28.77%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -3.81 0.00 0.00 0.00 0.00 -79.50 0.00 0.00 0.00 0.00 -16.06
NOPAT to Interest Expense		 -2.63 0.00 0.00 0.00 0.00 -55.65 0.00 0.00 0.00 0.00 -11.24
EBIT Less CapEx to Interest Expense		 -3.81 0.00 0.00 0.00 0.00 -79.54 0.00 0.00 0.00 0.00 -16.10
NOPAT Less CapEx to Interest Expense		 -2.64 0.00 0.00 0.00 0.00 -55.69 0.00 0.00 0.00 0.00 -11.29
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% -0.17% -3.73% -6.55% -0.28% -0.65%

Quarterly Metrics And Ratios for Axsome Therapeutics

This table displays calculated financial ratios and metrics derived from Axsome Therapeutics' official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
DEI Shares Outstanding		 - - - - - - - - - 51,153,289.00 51,459,766.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 51,153,289.00 51,459,766.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - -1.26 -1.00
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 193.50% -20.70% 86.65% 81.27% 66.04% 61.95% 72.13% 63.22% 65.03% 57.42% 45.54%
EBITDA Growth		 -66.00% -1,470.37% -20.74% -0.24% 27.31% 16.42% 54.71% 27.30% 64.89% -12.27% -36.44%
EBIT Growth		 -64.02% -955.46% -19.97% -0.81% 26.11% 15.30% 52.96% 26.37% 62.88% -11.19% -35.22%
NOPAT Growth		 -64.02% -955.46% -19.97% -0.81% 26.11% 15.30% 52.96% 26.37% 62.88% -11.19% -35.22%
Net Income Growth		 -61.09% -509.35% -18.13% -3.86% 24.06% 13.08% 39.54% 26.89% 61.88% -8.63% -6.96%
EPS Growth		 -49.31% -453.85% -8.44% -1.52% 28.37% 15.28% 41.92% 29.85% 64.29% -3.28% -2.06%
Operating Cash Flow Growth		 -10.15% -818.52% 45.60% 65.21% 13.70% 18.88% -7.68% 105.61% 28.81% 52.28% -1.63%
Free Cash Flow Firm Growth		 32.23% 37.49% 78.17% 173.47% 109.82% 149.10% -209.82% -171.36% -1,189.15% -489.73% -35.51%
Invested Capital Growth		 -221.03% -103.34% -194.19% -216.99% -518.31% -8,465.13% -25.49% -14.23% 50.79% 15.49% -27.27%
Revenue Q/Q Growth		 23.77% 4.85% 16.22% 20.19% 13.37% 2.27% 23.53% 13.96% 14.62% -2.45% 14.21%
EBITDA Q/Q Growth		 -60.80% 32.53% -16.33% 20.58% -16.61% 22.42% 36.97% -27.49% 43.68% -148.07% 23.40%
EBIT Q/Q Growth		 -58.20% 31.54% -16.01% 19.76% -15.96% 21.53% 35.57% -25.59% 41.54% -135.03% 21.64%
NOPAT Q/Q Growth		 -58.20% 31.54% -16.01% 19.76% -15.96% 21.53% 35.57% -25.59% 41.54% -135.03% 21.64%
Net Income Q/Q Growth		 -58.61% 30.71% -16.07% 18.58% -15.96% 20.69% 19.26% 1.55% 39.53% -126.00% 20.50%
EPS Q/Q Growth		 -62.88% 33.02% -15.97% 19.76% -14.93% 20.78% 20.49% 3.09% 41.49% -129.09% 21.43%
Operating Cash Flow Q/Q Growth		 43.30% -76.10% 43.68% 38.12% -40.64% -65.54% 25.25% 103.23% -1,883.27% -10.97% -59.19%
Free Cash Flow Firm Q/Q Growth		 1.23% 43.98% 76.88% 674.39% -86.80% 180.13% -245.87% -32.30% -101.46% -0.24% 49.28%
Invested Capital Q/Q Growth		 -128.98% 94.12% -3,609.98% -85.22% -53.14% 18.61% 45.64% -68.59% 34.03% -39.79% 18.14%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 89.69% 91.60% 90.76% 91.95% 91.15% 91.94% 91.04% 93.03% 93.71% 92.30% 93.79%
EBITDA Margin		 -134.32% -86.43% -86.52% -57.17% -58.80% -44.61% -22.76% -25.46% -12.51% -31.81% -21.34%
Operating Margin		 -137.39% -89.70% -89.54% -59.78% -61.14% -46.91% -24.47% -26.97% -13.75% -33.14% -22.73%
EBIT Margin		 -137.39% -89.70% -89.54% -59.78% -61.14% -46.91% -24.47% -26.97% -13.75% -33.14% -22.73%
Profit (Net Income) Margin		 -137.92% -91.14% -91.03% -61.67% -63.08% -48.91% -31.97% -27.62% -14.57% -33.76% -23.50%
Tax Burden Percent		 99.67% 100.00% 100.00% 100.00% 100.11% 100.00% 98.04% 100.00% 101.53% 100.00% 100.25%
Interest Burden Percent		 100.71% 101.61% 101.66% 103.16% 103.04% 104.27% 133.28% 102.43% 104.35% 101.87% 103.10%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% -1,724.41% -25,321.38% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% -1,706.51% -25,308.38% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 1,584.57% 25,212.69% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -159.21% -139.84% -108.69% -171.61% -231.63% -282.16% -280.68% -275.50% -252.11% -349.38% -245.10%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 -80.85% -48.17% -45.00% -34.81% -40.77% -35.49% -20.39% -24.60% -13.96% -35.82% -25.20%
Return on Assets (ROA)		 -81.16% -48.94% -45.75% -35.91% -42.06% -37.01% -26.65% -25.19% -14.79% -36.49% -26.05%
Return on Common Equity (ROCE)		 -159.21% -139.84% -108.69% -171.61% -231.63% -282.16% -280.68% -275.50% -252.11% -349.38% -245.10%
Return on Equity Simple (ROE_SIMPLE)		 0.00% -205.77% -300.00% -334.73% 0.00% -523.02% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -69 -47 -55 -44 -51 -40 -26 -32 -19 -44 -35
NOPAT Margin		 -96.17% -62.79% -62.68% -41.84% -42.80% -32.84% -17.13% -18.88% -9.63% -23.20% -15.91%
Net Nonoperating Expense Percent (NNEP)		 -19.75% -17.90% -13.00% -11.26% -14.81% -15.50% -19.48% -11.52% -7.93% -19.46% -14.84%
Return On Investment Capital (ROIC_SIMPLE)		 -18.32% - - - -20.42% -16.16% -9.39% -11.71% -6.50% -17.10% -12.30%
Cost of Revenue to Revenue		 10.31% 8.40% 9.24% 8.05% 8.85% 8.06% 8.96% 6.97% 6.29% 7.70% 6.21%
SG&A Expenses to Revenue		 121.36% 131.96% 118.80% 91.22% 95.37% 99.44% 86.83% 87.86% 86.38% 96.75% 95.31%
R&D to Revenue		 43.06% 49.11% 57.19% 43.32% 46.31% 36.87% 33.02% 23.49% 24.89% 27.55% 21.17%
Operating Expenses to Revenue		 227.07% 181.31% 180.30% 151.72% 152.29% 138.85% 115.51% 120.00% 107.46% 125.43% 116.52%
Earnings before Interest and Taxes (EBIT)		 -98 -67 -78 -63 -73 -57 -37 -46 -27 -63 -50
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -96 -65 -75 -60 -70 -54 -34 -44 -25 -61 -47
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 19.72 26.22 37.17 46.44 71.92 106.90 70.34 82.20 104.28 158.39 151.20
Price to Tangible Book Value (P/TBV)		 29.97 47.03 93.93 133.33 0.00 0.00 297.10 309.86 257.66 2,402.98 371.51
Price to Revenue (P/Rev)		 13.92 15.04 13.12 12.75 10.63 13.16 10.38 10.80 14.42 12.21 16.22
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 0.00
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% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 13.17 14.47 12.68 12.34 10.31 12.91 10.18 10.58 14.23 12.07 16.06
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 0.00
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 0.00
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 0.00
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 0.00
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		 0.97 1.30 1.84 2.06 3.37 3.64 2.74 2.74 2.29 3.75 2.39
Long-Term Debt to Equity		 0.93 1.25 1.77 1.97 3.22 3.48 1.66 1.66 1.38 2.27 1.42
Financial Leverage		 -1.01 -0.93 -1.00 -1.02 -1.31 -1.28 -1.30 -1.56 -1.68 -1.93 -1.43
Leverage Ratio		 3.06 3.65 3.04 3.21 4.66 5.79 6.75 7.39 8.66 12.16 8.96
Compound Leverage Factor		 3.08 3.71 3.09 3.31 4.81 6.04 9.00 7.57 9.04 12.38 9.24
Debt to Total Capital		 49.13% 56.46% 64.81% 67.29% 77.10% 78.45% 73.30% 73.26% 69.58% 78.96% 70.51%
Short-Term Debt to Total Capital		 1.71% 1.93% 2.41% 2.86% 3.33% 3.48% 28.95% 28.90% 27.57% 31.28% 28.75%
Long-Term Debt to Total Capital		 47.43% 54.53% 62.40% 64.42% 73.77% 74.96% 44.34% 44.36% 42.01% 47.68% 41.76%
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		 50.87% 43.54% 35.19% 32.71% 22.90% 21.55% 26.70% 26.74% 30.42% 21.04% 29.49%
Debt to EBITDA		 -0.83 -0.66 -0.64 -0.65 -0.71 -0.75 -0.92 -1.00 -1.29 -1.26 -1.13
Net Debt to EBITDA		 0.91 0.51 0.43 0.46 0.46 0.41 0.47 0.61 0.77 0.61 0.69
Long-Term Debt to EBITDA		 -0.80 -0.64 -0.62 -0.62 -0.68 -0.71 -0.56 -0.61 -0.78 -0.76 -0.67
Debt to NOPAT		 -1.14 -0.91 -0.89 -0.89 -0.98 -1.02 -1.25 -1.36 -1.73 -1.69 -1.53
Net Debt to NOPAT		 1.24 0.71 0.59 0.64 0.63 0.57 0.64 0.83 1.04 0.83 0.93
Long-Term Debt to NOPAT		 -1.10 -0.88 -0.85 -0.85 -0.94 -0.98 -0.76 -0.82 -1.04 -1.02 -0.91
Altman Z-Score		 4.35 4.07 3.31 3.75 2.84 4.42 3.70 4.41 7.70 6.17 9.64
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		 3.63 3.20 2.48 2.44 2.11 2.03 1.57 1.57 1.55 1.39 1.43
Quick Ratio		 3.46 3.01 2.34 2.30 1.99 1.90 1.47 1.45 1.44 1.27 1.30
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -49 -28 -6.37 37 4.83 14 -20 -26 -53 -53 -27
Operating Cash Flow to CapEx		 -433,742.86% -54,558.16% -57,903.85% -20,701.11% -87,340.00% -12,832.84% -249,407.69% 1,803.45% -26,271.83% -17,107.44% -7,322.67%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -1.90 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -3.12 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -3.12 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.59 0.54 0.50 0.58 0.67 0.76 0.83 0.91 1.01 1.08 1.11
Accounts Receivable Turnover		 4.08 3.43 3.11 3.34 3.26 3.29 3.10 3.50 3.48 3.43 3.26
Inventory Turnover		 2.68 2.11 2.31 2.49 2.16 2.31 2.51 2.40 2.17 2.19 1.87
Fixed Asset Turnover		 345.15 331.38 399.30 409.26 539.43 545.31 711.77 871.53 1,114.30 1,057.07 1,007.88
Accounts Payable Turnover		 0.24 0.21 0.20 0.21 0.19 0.20 0.19 0.20 0.18 0.18 0.16
Days Sales Outstanding (DSO)		 89.37 106.31 117.55 109.20 112.06 110.99 117.66 104.25 104.75 106.28 111.93
Days Inventory Outstanding (DIO)		 136.22 173.06 158.03 146.70 169.15 158.23 145.61 152.03 167.86 166.55 195.68
Days Payable Outstanding (DPO)		 1,550.29 1,699.86 1,849.36 1,778.48 1,924.37 1,841.94 1,906.16 1,863.60 1,992.57 2,062.29 2,227.42
Cash Conversion Cycle (CCC)		 -1,324.70 -1,420.49 -1,573.79 -1,522.58 -1,643.17 -1,572.71 -1,642.88 -1,607.32 -1,719.96 -1,789.46 -1,919.81
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -11 -0.63 -23 -43 -66 -54 -29 -50 -33 -46 -37
Invested Capital Turnover		 -290.03 27.46 404.00 -107.50 -10.00 -15.81 -18.76 -12.08 -12.89 -14.20 -23.26
Increase / (Decrease) in Invested Capital		 -20 -20 -48 -80 -56 -53 -5.97 -6.17 34 8.37 -8.01
Enterprise Value (EV)		 3,564 3,631 3,697 4,178 3,977 5,580 5,037 5,937 9,086 8,546 12,475
Market Capitalization		 3,766 3,776 3,823 4,314 4,100 5,688 5,140 6,061 9,207 8,646 12,596
Book Value per Share		 $4.04 $3.04 $2.17 $1.94 $1.18 $1.09 $1.48 $1.48 $1.75 $1.07 $1.62
Tangible Book Value per Share		 $2.66 $1.69 $0.86 $0.67 ($0.04) ($0.09) $0.35 $0.39 $0.71 $0.07 $0.66
Total Capital		 375 331 292 284 249 247 274 276 290 259 282
Total Debt		 184 187 189 191 192 194 201 202 202 205 199
Total Long-Term Debt		 178 180 182 183 184 185 121 122 122 124 118
Net Debt		 -202 -145 -126 -136 -123 -107 -102 -123 -121 -100 -121
Capital Expenditures (CapEx)		 0.01 0.10 0.05 0.09 0.03 0.34 0.01 0.06 0.07 0.12 0.45
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -14 -8.61 -32 -36 -52 -42 -29 -41 -33 -52 -43
Debt-free Net Working Capital (DFNWC)		 372 323 283 291 263 259 274 285 290 253 277
Net Working Capital (NWC)		 365 316 276 283 255 251 195 205 210 172 196
Net Nonoperating Expense (NNE)		 30 21 25 21 24 20 22 15 9.69 20 17
Net Nonoperating Obligations (NNO)		 -202 -145 -126 -136 -123 -107 -102 -123 -121 -100 -121
Total Depreciation and Amortization (D&A)		 2.19 2.45 2.63 2.73 2.78 2.80 2.56 2.57 2.44 2.53 3.05
Debt-free, Cash-free Net Working Capital to Revenue		 -5.31% -3.43% -11.03% -10.72% -13.51% -9.62% -5.91% -7.22% -5.13% -7.34% -5.48%
Debt-free Net Working Capital to Revenue		 137.40% 128.61% 97.26% 86.00% 68.25% 60.01% 55.30% 50.73% 45.44% 35.74% 35.71%
Net Working Capital to Revenue		 135.04% 126.06% 94.84% 83.59% 66.10% 58.02% 39.29% 36.53% 32.91% 24.29% 25.26%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($2.15) ($1.44) ($1.67) ($1.34) ($1.54) ($1.22) ($0.97) ($0.94) ($0.55) ($1.26) ($0.99)
Adjusted Weighted Average Basic Shares Outstanding		 45.43M 47.39M 47.57M 48.14M 47.91M 48.87M 49.44M 50.02M 49.75M 51.20M 51.80M
Adjusted Diluted Earnings per Share		 ($2.15) ($1.44) ($1.67) ($1.34) ($1.54) ($1.22) ($0.97) ($0.94) ($0.55) ($1.26) ($0.99)
Adjusted Weighted Average Diluted Shares Outstanding		 45.43M 47.39M 47.57M 48.14M 47.91M 48.87M 49.44M 50.02M 49.75M 51.20M 51.80M
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		 47.37M 47.50M 48.00M 48.46M 48.77M 49.24M 49.90M 50.41M 51.15M 51.46M 52.38M
Normalized Net Operating Profit after Tax (NOPAT)		 -69 -47 -55 -44 -51 -40 -26 -32 -19 -44 -35
Normalized NOPAT Margin		 -96.17% -62.79% -62.68% -41.84% -42.80% -32.84% -17.13% -18.88% -9.63% -23.20% -15.91%
Pre Tax Income Margin		 -138.37% -91.14% -91.03% -61.67% -63.00% -48.91% -32.61% -27.62% -14.35% -33.76% -23.44%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -3.54 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -2.47 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -3.54 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -2.48 0.00 0.00 0.00 0.00
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		 -6.55% 0.00% -0.74% -0.16% -0.28% -0.43% -0.61% -0.62% -0.65% -0.48% -0.30%

Financials Breakdown Chart

Key Financial Trends

Axsome Therapeutics continued to post strong top-line growth in Q1 2026, but profitability remains out of reach and the company is still burning cash. The latest quarter showed revenue rising sharply year over year, while operating losses widened as spending stayed elevated. Balance sheet liquidity remains solid for now, but liabilities are also high and debt is material.

  • Revenue growth remains strong. Q1 2026 revenue was $191.2 million, up from $121.5 million in Q1 2025 and $75.0 million in Q1 2024, showing clear multi-year scaling.
  • Gross profit expanded meaningfully. Gross profit reached $176.5 million in Q1 2026, up from $111.7 million a year earlier, indicating the core business is growing efficiently at the product level.
  • Cash position is still substantial. Axsome ended Q1 2026 with $305.1 million in cash and equivalents, which provides flexibility to keep funding operations.
  • Inventory and receivables support a larger commercial footprint. Accounts receivable rose to $251.1 million and inventory to $31.5 million, both consistent with a company expanding sales volume.
  • Revenue growth is still being outpaced by costs. Operating expenses were $239.8 million in Q1 2026, above gross profit, which resulted in an operating loss despite strong sales.
  • Q1 cash flow was still negative from operations. Operating cash flow was -$20.7 million, though this was better than many prior quarters and helped by non-cash add-backs.
  • Shares outstanding remain elevated. Weighted average diluted shares were about 51.2 million in Q1 2026, and equity issuance has been a recurring source of funding over the last year.
  • Debt is significant but manageable for now. Total debt stood at roughly $199.0 million in Q1 2026, including $81.2 million short-term and $117.9 million long-term.
  • Net losses continue to be large. Q1 2026 net loss was $64.5 million, or $1.26 per share, versus a $59.4 million loss in Q1 2025 and a $68.4 million loss in Q1 2024.
  • Operating losses widened again year over year. Operating income was -$63.4 million in Q1 2026, worse than -$56.0 million in Q1 2025, showing that scale has not yet translated into operating leverage.
  • Liabilities are very high relative to equity. Total liabilities were $659.0 million against just $54.6 million of equity, which leaves the balance sheet highly leveraged.
  • Accounts payable is large. Accounts payable was $357.4 million in Q1 2026, which suggests a heavy reliance on supplier financing and working capital obligations.
  • Cash has declined from recent peaks. Cash and equivalents fell from $325.3 million in Q3 2025 to $305.1 million in Q1 2026, reflecting ongoing operating pressure.

Bottom line: Axsome is executing on revenue growth, and that is the biggest bullish takeaway. But the company is still not profitable, cash from operations remains negative, and the balance sheet carries meaningful leverage. For retail investors, the story still hinges on whether Axsome can turn rapid sales growth into sustained operating leverage before funding needs become more important.

08/15/26 11:58 PM ETAI Generated. May Contain Errors.

Axsome Therapeutics Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Axsome Therapeutics' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Axsome Therapeutics' net income appears to be on an upward trend, with a most recent value of -$183.17 million in 2025, rising from -$12.21 million in 2015. The previous period was -$287.22 million in 2024. See where experts think Axsome Therapeutics is headed by visiting Axsome Therapeutics' forecast page.

Axsome Therapeutics' total operating income in 2025 was -$166.76 million, based on the following breakdown:
  • Total Gross Profit: $591.02 million
  • Total Operating Expenses: $757.78 million

Over the last 10 years, Axsome Therapeutics' total revenue changed from $0.00 in 2015 to $638.50 million in 2025, a change of 63,849,600,000.0%.

Axsome Therapeutics' total liabilities were at $601.51 million at the end of 2025, a 17.6% increase from 2024, and a 22,754.6% increase since 2015.

In the past 10 years, Axsome Therapeutics' cash and equivalents has ranged from $13.97 million in 2018 to $386.19 million in 2023, and is currently $322.93 million as of their latest financial filing in 2025.

Over the last 10 years, Axsome Therapeutics' book value per share changed from 3.89 in 2015 to 1.75 in 2025, a change of -55.0%.


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Financial statements for NASDAQ:AXSM last updated on 8/10/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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