What is CAMP4 Therapeutics' operating income?

CAMP4 Therapeutics' total operating income in 2025 was -$52.56 million, based on the following breakdown: Total Gross Profit: $3.50 million Total Operating Expenses: $55.56 million

CAMP4 Therapeutics (CAMP) Financials

$3.19 -0.13 (-3.92%)

Closing price 07/21/2026 04:00 PM Eastern

Extended Trading

$3.19 0.00 (0.00%)

As of 04:12 AM Eastern

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Annual Income Statements for CAMP4 Therapeutics

This table shows CAMP4 Therapeutics' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2023	2024	2025
Period end date	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-49	-52	-80
Consolidated Net Income / (Loss)	-49	-52	-80
Net Income / (Loss) Continuing Operations	-49	-52	-80
Total Pre-Tax Income	-49	-52	-80
Total Operating Income	-52	-53	-53
Total Gross Profit	0.35	0.65	3.50
Total Revenue	0.35	0.65	3.50
Total Cost of Revenue	0.00	0.00	0.00
Total Operating Expenses	52	54	56
Selling, General & Admin Expense	12	15	17
Research & Development Expense	41	39	38
Total Other Income / (Expense), net	2.81	1.33	-28
Interest & Investment Income	2.81	1.33	2.17
Other Income / (Expense), net	-	0.00	-30
Basic Earnings per Share	($124.80)	($11.04)	($2.65)
Weighted Average Basic Shares Outstanding	394.98K	4.69M	30.38M
Diluted Earnings per Share	($124.80)	($11.04)	($2.65)
Weighted Average Diluted Shares Outstanding	394.98K	4.69M	30.38M
Weighted Average Basic & Diluted Shares Outstanding	-	20.16M	51.92M
Cash Dividends to Common per Share	-	$0.00	$0.00

This table shows CAMP4 Therapeutics' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 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	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	-12	-12	-13	-13	-13	-12	-13	-15	-40	-18
Consolidated Net Income / (Loss)	-12	-12	-13	-13	-13	-12	-13	-15	-40	-18
Net Income / (Loss) Continuing Operations	-12	-12	-13	-13	-13	-12	-13	-15	-40	-18
Total Pre-Tax Income	-12	-12	-13	-13	-13	-12	-13	-15	-40	-18
Total Operating Income	-12	-13	-13	-14	-14	-13	-13	-14	-13	-13
Total Gross Profit	0.35	0.00	0.00	0.00	0.65	0.86	1.50	0.80	0.35	1.29
Total Revenue	0.35	0.00	0.00	0.00	0.65	0.86	1.50	0.80	0.35	1.29
Total Cost of Revenue	0.00	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Operating Expenses	13	13	13	14	15	14	15	14	13	14
Selling, General & Admin Expense	2.87	3.14	3.27	3.81	4.70	3.81	4.18	4.60	4.77	4.21
Research & Development Expense	9.82	9.74	9.39	9.70	9.99	10	10	9.36	8.36	10
Total Other Income / (Expense), net	0.69	0.42	0.09	0.03	0.79	0.67	0.44	-1.45	-27	-5.26
Interest & Investment Income	0.69	0.40	0.23	0.09	0.61	0.59	0.45	0.42	0.71	0.91
Other Income / (Expense), net	-	0.03	-0.15	-0.06	0.18	0.08	-0.01	-1.87	-28	-6.17
Basic Earnings per Share	($29.21)	($26.57)	($26.00)	($24.19)	$65.72	($0.62)	($0.62)	($0.55)	($0.86)	($0.32)
Weighted Average Basic Shares Outstanding	400.43K	468.70K	483.64K	557.44K	4.69M	20.15M	20.16M	27.27M	30.38M	57.92M
Diluted Earnings per Share	($29.21)	($26.57)	($26.00)	($24.19)	$65.72	($0.62)	($0.62)	($0.55)	($0.86)	($0.32)
Weighted Average Diluted Shares Outstanding	400.43K	468.70K	483.64K	557.44K	4.69M	20.15M	20.16M	27.27M	30.38M	57.92M
Weighted Average Basic & Diluted Shares Outstanding	-	-	-	20.16M	20.16M	20.16M	20.16M	46.88M	51.92M	51.93M

This table details how cash moves in and out of CAMP4 Therapeutics' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2023	2024	2025
Period end date	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-45	26	46
Net Cash From Operating Activities	-44	-46	-30
Net Cash From Continuing Operating Activities	-44	-46	-30
Net Income / (Loss) Continuing Operations	-49	-52	-80
Consolidated Net Income / (Loss)	-49	-52	-80
Depreciation Expense	1.68	1.70	1.64
Non-Cash Adjustments To Reconcile Net Income	4.73	5.86	36
Changes in Operating Assets and Liabilities, net	-1.27	-1.33	13
Net Cash From Investing Activities	-0.68	-0.44	-0.24
Net Cash From Continuing Investing Activities	-0.68	-0.44	-0.24
Purchase of Property, Plant & Equipment	-0.68	-0.44	-0.28
Sale of Property, Plant & Equipment	-	0.00	0.04
Net Cash From Financing Activities	0.30	72	76
Net Cash From Continuing Financing Activities	0.30	72	76
Repayment of Debt	-	-3.98	0.00
Issuance of Common Equity	0.00	76	61
Other Financing Activities, net	0.30	-0.71	15

This table details how cash moves in and out of CAMP4 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
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
Net Change in Cash & Equivalents	-12	-11	-14	-10	62	-15	-10	36	35	-11
Net Cash From Operating Activities	-12	-11	-13	-9.69	-11	-14	-10	-11	6.29	-11
Net Cash From Continuing Operating Activities	-12	-11	-13	-9.69	-11	-14	-10	-11	6.29	-11
Net Income / (Loss) Continuing Operations	-13	-12	-13	-13	-13	-12	-13	-15	-40	-18
Consolidated Net Income / (Loss)	-13	-12	-13	-13	-13	-12	-13	-15	-40	-18
Depreciation Expense	0.44	0.44	0.42	0.42	0.42	0.42	0.43	0.42	0.37	0.52
Non-Cash Adjustments To Reconcile Net Income	1.08	1.29	1.24	2.06	1.28	1.45	1.39	3.84	30	7.70
Changes in Operating Assets and Liabilities, net	-0.31	-0.41	-2.53	1.31	0.30	-3.72	0.43	-0.37	17	-0.87
Net Cash From Investing Activities	-0.24	-0.02	-0.16	-	-0.26	-0.28	-	0.04	-	0.00
Net Cash From Continuing Investing Activities	-0.24	-0.02	-0.16	-	-0.26	-0.28	-	0.04	-	0.00
Purchase of Property, Plant & Equipment	-0.24	-0.02	-0.16	-	-0.26	-0.28	-	-	-	0.00
Net Cash From Financing Activities	-0.06	-0.20	-0.81	-0.39	73	-0.15	0.07	47	29	0.06
Net Cash From Continuing Financing Activities	-0.06	-0.20	-0.81	-0.39	73	-0.15	0.07	47	29	0.06
Issuance of Common Equity	-0.01	0.00	-	-0.00	76	0.00	-	33	29	0.06
Other Financing Activities, net	-0.05	-0.20	-0.20	-0.17	-0.13	-0.15	0.07	15	0.03	0.00

This table presents CAMP4 Therapeutics' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2023	2024	2025
Period end date	12/31/2023	12/31/2024	12/31/2025
Total Assets	55	78	118
Total Current Assets	40	66	114
Cash & Equivalents	38	64	110
Restricted Cash	-	0.00	1.35
Prepaid Expenses	1.63	2.34	3.23
Plant, Property, & Equipment, net	4.80	3.86	2.34
Total Noncurrent Assets	10	8.07	1.37
Other Noncurrent Operating Assets	9.39	8.07	1.37
Total Liabilities & Shareholders' Equity	55	78	118
Total Liabilities	17	15	70
Total Current Liabilities	7.81	9.60	16
Accounts Payable	1.04	1.21	0.18
Accrued Expenses	3.30	4.83	5.66
Current Deferred Revenue	0.00	0.39	9.39
Other Current Liabilities	3.46	3.17	0.29
Total Noncurrent Liabilities	8.72	5.57	55
Noncurrent Deferred Revenue	-	0.00	8.11
Other Noncurrent Operating Liabilities	8.72	5.57	46
Commitments & Contingencies	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-124	63	48
Total Preferred & Common Equity	-124	63	48
Total Common Equity	-124	63	48
Common Stock	36	275	340
Retained Earnings	-160	-212	-292

This table presents CAMP4 Therapeutics' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	21	63	51	86	105
Total Current Assets	5.50	52	41	78	102
Cash & Equivalents	2.53	49	39	75	99
Restricted Cash	-	-	-	-	0.73
Prepaid Expenses	1.98	2.35	2.03	2.45	2.26
Plant, Property, & Equipment, net	3.83	3.60	3.41	2.90	1.93
Total Noncurrent Assets	12	7.50	6.78	5.79	1.33
Other Noncurrent Operating Assets	11	7.16	6.69	5.70	1.33
Total Liabilities & Shareholders' Equity	21	63	51	86	105
Total Liabilities	18	11	11	28	75
Total Current Liabilities	12	6.44	7.34	7.90	17
Accounts Payable	3.87	1.40	1.20	0.59	0.86
Accrued Expenses	3.68	1.84	2.87	4.07	4.30
Current Deferred Revenue	1.00	0.00	0.00	0.00	11
Other Current Liabilities	3.28	3.21	3.27	3.25	0.38
Total Noncurrent Liabilities	6.36	4.76	3.95	20	58
Noncurrent Deferred Revenue	-	-	-	-	5.22
Other Noncurrent Operating Liabilities	6.36	4.76	3.95	20	53
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-159	52	40	59	31
Total Preferred & Common Equity	-159	52	40	59	31
Total Common Equity	-159	52	40	59	31
Common Stock	39	276	277	311	341
Retained Earnings	-198	-224	-237	-252	-310

This table displays calculated financial ratios and metrics derived from CAMP4 Therapeutics' official financial filings.

Metric	2023	2024	2025
Period end date	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	0.00	20,161,073.00	46,881,134.00
DEI Adjusted Shares Outstanding	0.00	20,161,073.00	46,881,134.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	-2.57	-1.72
Growth Metrics	-	-	-
Revenue Growth	0.00%	86.29%	436.50%
EBITDA Growth	0.00%	-2.37%	-57.12%
EBIT Growth	0.00%	-2.33%	-55.19%
NOPAT Growth	0.00%	-2.33%	1.00%
Net Income Growth	0.00%	-5.07%	-55.25%
EPS Growth	0.00%	91.15%	76.00%
Operating Cash Flow Growth	0.00%	-3.19%	35.14%
Free Cash Flow Firm Growth	0.00%	0.00%	170.32%
Invested Capital Growth	0.00%	-2,518.92%	-6,956.87%
Revenue Q/Q Growth	0.00%	0.00%	-8.00%
EBITDA Q/Q Growth	0.00%	0.00%	-54.90%
EBIT Q/Q Growth	0.00%	0.00%	-53.09%
NOPAT Q/Q Growth	0.00%	0.00%	2.34%
Net Income Q/Q Growth	0.00%	0.00%	-50.57%
EPS Q/Q Growth	0.00%	0.00%	-104.15%
Operating Cash Flow Q/Q Growth	0.00%	1.07%	37.30%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	0.00%	0.00%	-280.75%
Profitability Metrics	-	-	-
Gross Margin	100.00%	100.00%	100.00%
EBITDA Margin	-14,343.14%	-7,882.21%	-2,308.35%
Operating Margin	-14,822.57%	-8,142.33%	-1,502.43%
EBIT Margin	-14,822.57%	-8,142.33%	-2,355.20%
Profit (Net Income) Margin	-14,083.14%	-7,943.40%	-2,298.54%
Tax Burden Percent	100.45%	100.06%	100.24%
Interest Burden Percent	94.59%	97.49%	97.36%
Effective Tax Rate	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-98,149.46%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	-98,115.65%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	98,021.15%	0.00%	0.00%
Return on Equity (ROE)	-128.31%	-101.99%	-145.07%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	-94.42%	-79.68%	-84.02%
Return on Assets (ROA)	-89.71%	-77.73%	-82.00%
Return on Common Equity (ROCE)	413.23%	60.84%	-145.07%
Return on Equity Simple (ROE_SIMPLE)	39.84%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-36	-37	-37
NOPAT Margin	-10,375.80%	-5,699.63%	-1,051.70%
Net Nonoperating Expense Percent (NNEP)	-33.81%	-28.57%	-49.87%
Return On Investment Capital (ROIC_SIMPLE)	29.35%	-58.85%	-77.12%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	3,318.00%	2,288.80%	496.20%
R&D to Revenue	11,604.57%	5,953.53%	1,092.11%
Operating Expenses to Revenue	14,922.57%	8,242.33%	1,588.31%
Earnings before Interest and Taxes (EBIT)	-52	-53	-82
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-50	-51	-81
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	0.00	0.39	3.90
Price to Tangible Book Value (P/TBV)	0.00	0.39	3.90
Price to Revenue (P/Rev)	214.34	37.55	53.24
Price to Earnings (P/E)	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	5,372.62	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	567.96	0.00	21.55
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	2.96
Leverage & Solvency	-	-	-
Debt to Equity	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00
Financial Leverage	-1.00	-1.01	-1.58
Leverage Ratio	1.43	1.31	1.77
Compound Leverage Factor	1.35	1.28	1.72
Debt to Total Capital	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	422.07%	0.00%	0.00%
Common Equity to Total Capital	-322.07%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00
Altman Z-Score	-3.76	-4.18	-3.15
Noncontrolling Interest Sharing Ratio	422.07%	159.65%	0.00%
Liquidity Ratios	-	-	-
Current Ratio	5.13	6.92	7.35
Quick Ratio	4.92	6.67	7.06
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-36	25
Operating Cash Flow to CapEx	-6,512.54%	-10,331.52%	-12,161.73%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00
Efficiency Ratios	-	-	-
Asset Turnover	0.01	0.01	0.04
Accounts Receivable Turnover	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00
Fixed Asset Turnover	0.07	0.15	1.13
Accounts Payable Turnover	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-
Invested Capital	0.04	-0.90	-63
Invested Capital Turnover	9.46	-1.52	-0.11
Increase / (Decrease) in Invested Capital	0.00	-0.93	-62
Enterprise Value (EV)	199	-40	75
Market Capitalization	75	24	186
Book Value per Share	($313.26)	$3.13	$1.02
Tangible Book Value per Share	($313.26)	$3.13	$1.02
Total Capital	38	63	48
Total Debt	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00
Net Debt	-38	-64	-111
Capital Expenditures (CapEx)	0.68	0.44	0.24
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-6.17	-7.25	-12
Debt-free Net Working Capital (DFNWC)	32	57	99
Net Working Capital (NWC)	32	57	99
Net Nonoperating Expense (NNE)	13	15	44
Net Nonoperating Obligations (NNO)	-38	-64	-111
Total Depreciation and Amortization (D&A)	1.68	1.70	1.64
Debt-free, Cash-free Net Working Capital to Revenue	-1,764.00%	-1,112.58%	-351.11%
Debt-free Net Working Capital to Revenue	9,201.71%	8,709.36%	2,818.21%
Net Working Capital to Revenue	9,201.71%	8,709.36%	2,818.21%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$0.00	($11.04)	($2.65)
Adjusted Weighted Average Basic Shares Outstanding	0.00	4.69M	30.38M
Adjusted Diluted Earnings per Share	$0.00	($11.04)	($2.65)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	4.69M	30.38M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	20.16M	51.92M
Normalized Net Operating Profit after Tax (NOPAT)	-36	-37	-37
Normalized NOPAT Margin	-10,375.80%	-5,699.63%	-1,051.70%
Pre Tax Income Margin	-14,020.29%	-7,938.34%	-2,293.05%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00
Payout Ratios	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from CAMP4 Therapeutics' official financial filings.

Metric	Q3 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	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	0.00	0.00	0.00	0.00	20,161,073.00	20,161,072.00	20,161,073.00	20,161,073.00	46,881,134.00	51,919,321.00
DEI Adjusted Shares Outstanding	0.00	0.00	0.00	0.00	20,161,073.00	20,161,072.00	20,161,073.00	20,161,073.00	46,881,134.00	51,919,321.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	0.00	0.00	0.00	-0.66	-0.62	-0.62	-0.75	-0.86	-0.35
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	0.00%	-100.00%	0.00%	0.00%	0.00%	0.00%	-46.63%	50.82%
EBITDA Growth	0.00%	0.00%	0.00%	-6.66%	0.00%	-1.52%	-1.83%	-14.79%	-200.86%	-48.58%
EBIT Growth	0.00%	0.00%	0.00%	-10.05%	0.00%	-1.35%	-1.82%	-14.32%	-194.47%	-47.77%
NOPAT Growth	0.00%	0.00%	0.00%	-9.55%	0.00%	-1.75%	-2.89%	-1.00%	8.97%	0.22%
Net Income Growth	0.00%	0.00%	0.00%	-15.29%	0.00%	0.15%	-0.09%	-11.98%	-203.37%	-47.44%
EPS Growth	0.00%	0.00%	0.00%	17.19%	0.00%	97.67%	97.62%	97.73%	-101.31%	48.39%
Operating Cash Flow Growth	0.00%	0.00%	0.00%	0.00%	4.20%	-28.21%	23.03%	-15.72%	155.75%	23.13%
Free Cash Flow Firm Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	175.96%	0.00%	644.15%
Invested Capital Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-2,675.78%	-6,956.87%	-3,169.68%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	31.60%	74.48%	-46.89%	-56.23%	271.84%
EBITDA Q/Q Growth	0.00%	0.00%	0.23%	-6.27%	-2.11%	6.24%	-0.08%	-19.79%	-167.64%	53.70%
EBIT Q/Q Growth	0.00%	0.00%	0.31%	-6.02%	-2.05%	6.03%	-0.15%	-19.03%	-162.87%	52.84%
NOPAT Q/Q Growth	0.00%	0.00%	1.65%	-6.74%	-3.84%	6.66%	0.55%	-4.78%	6.41%	-2.31%
Net Income Q/Q Growth	0.00%	0.00%	-1.00%	-7.22%	1.52%	6.37%	-1.24%	-19.96%	-166.80%	54.50%
EPS Q/Q Growth	0.00%	0.00%	2.15%	6.96%	371.68%	-100.94%	0.00%	11.29%	-56.36%	62.79%
Operating Cash Flow Q/Q Growth	0.00%	5.43%	-20.60%	27.87%	-16.46%	-26.56%	27.60%	-8.45%	156.10%	-274.50%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	100.00%	0.00%	11.95%	176.35%	594.62%	16.53%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	0.00%	-238.98%	351.28%	-58.43%	-1,874.12%	-280.75%	-9.31%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	0.00%	0.00%	0.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	-3,525.14%	0.00%	0.00%	0.00%	-2,061.04%	-1,468.53%	-842.35%	-1,900.13%	-11,617.82%	-1,446.75%
Operating Margin	-3,525.14%	0.00%	0.00%	0.00%	-2,152.61%	-1,526.81%	-870.27%	-1,717.11%	-3,671.26%	-1,010.12%
EBIT Margin	-3,525.14%	0.00%	0.00%	0.00%	-2,125.15%	-1,517.60%	-871.08%	-1,952.45%	-11,724.71%	-1,486.94%
Profit (Net Income) Margin	-3,341.71%	0.00%	0.00%	0.00%	-2,036.66%	-1,449.07%	-840.82%	-1,899.25%	-11,575.86%	-1,416.62%
Tax Burden Percent	100.40%	100.00%	100.00%	100.00%	100.25%	100.00%	100.00%	100.00%	100.48%	100.00%
Interest Burden Percent	94.42%	96.93%	98.20%	99.31%	95.60%	95.48%	96.53%	97.27%	98.26%	95.27%
Effective Tax Rate	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%	-1,435.16%	-3,918.37%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	-1,421.93%	-3,900.62%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	1,359.92%	3,809.41%	0.00%	0.00%	0.00%
Return on Equity (ROE)	0.00%	0.00%	0.00%	0.00%	-101.99%	-75.24%	-108.96%	-172.70%	-145.07%	-209.28%
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%
Operating Return on Assets (OROA)	0.00%	0.00%	0.00%	0.00%	-20.80%	-36.51%	-51.08%	-137.77%	-418.26%	-69.54%
Return on Assets (ROA)	0.00%	0.00%	0.00%	0.00%	-19.93%	-34.86%	-49.31%	-134.02%	-412.95%	-66.25%
Return on Common Equity (ROCE)	0.00%	0.00%	0.00%	0.00%	60.84%	-75.24%	-108.96%	280.13%	-145.07%	-209.28%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-8.64	-9.01	-8.86	-9.46	-9.82	-9.17	-9.12	-9.56	-8.94	-9.15
NOPAT Margin	-2,467.60%	0.00%	0.00%	0.00%	-1,506.83%	-1,068.76%	-609.19%	-1,201.97%	-2,569.89%	-707.09%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	-318.26%	-5.39%	-13.23%	-17.76%	-14.25%	-35.84%	-12.30%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	5.95%	-15.56%	-17.78%	-22.81%	-16.29%	-18.75%	-29.61%
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%
SG&A Expenses to Revenue	819.71%	0.00%	0.00%	0.00%	721.01%	444.29%	279.36%	578.11%	1,369.83%	324.96%
R&D to Revenue	2,805.43%	0.00%	0.00%	0.00%	1,531.60%	1,182.52%	690.92%	1,176.86%	2,401.44%	785.16%
Operating Expenses to Revenue	3,625.14%	0.00%	0.00%	0.00%	2,252.61%	1,626.81%	970.27%	1,817.11%	3,629.31%	1,110.12%
Earnings before Interest and Taxes (EBIT)	-12	-13	-13	-14	-14	-13	-13	-16	-41	-19
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-12	-12	-12	-13	-13	-13	-13	-15	-40	-19
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.39	1.56	0.73	1.39	3.90	8.27
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.39	1.56	0.73	1.39	3.90	8.27
Price to Revenue (P/Rev)	0.00	0.00	0.00	0.00	37.55	53.39	9.72	21.52	53.24	64.93
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
Dividend Yield	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%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	364.35	0.00	13.91	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	0.00	0.00	20.72	0.00	1.73	21.55	39.53
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
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
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
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
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2.96	4.51
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	0.00	0.00	0.00	-0.80	-1.01	-0.96	-0.98	-1.26	-1.58	-1.81
Leverage Ratio	0.00	0.00	0.00	6.74	1.31	1.22	1.28	1.74	1.77	2.04
Compound Leverage Factor	0.00	0.00	0.00	6.69	1.25	1.16	1.24	1.70	1.74	1.94
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	5,111.82%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	0.00%	0.00%	-5,011.82%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	0.00	0.00	0.00	0.00	-2.52	-0.48	-4.90	-1.89	-1.99	-1.66
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	159.65%	0.00%	0.00%	262.21%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	0.00	0.00	0.47	6.92	8.02	5.60	9.83	7.35	6.15
Quick Ratio	0.00	0.00	0.00	0.30	6.67	7.66	5.32	9.52	7.06	5.97
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	0.00	0.00	-10	0.00	-11	-10	7.68	53	62
Operating Cash Flow to CapEx	0.00%	-74,286.67%	-8,244.17%	0.00%	-4,292.02%	-5,120.43%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	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	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	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.00	0.00	0.00	0.01	0.02	0.06	0.07	0.04	0.05
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	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	0.15	0.42	0.88	1.13	1.13	1.42
Accounts Payable Turnover	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	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	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
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	0.00	0.00	0.64	-0.90	2.25	0.94	-17	-63	-69
Invested Capital Turnover	0.00	0.00	0.00	0.00	-0.73	1.34	6.43	-0.48	-0.11	-0.12
Increase / (Decrease) in Invested Capital	0.00	0.00	0.00	0.64	0.00	2.25	0.94	-17	-62	-71
Enterprise Value (EV)	0.00	0.00	0.00	235	-40	31	-9.82	6.57	75	156
Market Capitalization	75	75	75	75	24	81	29	82	186	255
Book Value per Share	$0.00	$0.00	$0.00	($285.19)	$3.13	$2.56	$1.98	$2.91	$1.02	$0.60
Tangible Book Value per Share	$0.00	$0.00	$0.00	($285.19)	$3.13	$2.56	$1.98	$2.91	$1.02	$0.60
Total Capital	0.00	0.00	0.00	3.17	63	52	40	59	48	31
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	0.00	0.00	0.00	-2.53	-64	-49	-39	-75	-111	-100
Capital Expenditures (CapEx)	0.00	0.02	0.16	0.00	0.26	0.28	0.00	0.00	0.00	0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	0.00	0.00	-8.85	-7.25	-4.09	-5.30	-5.45	-12	-14
Debt-free Net Working Capital (DFNWC)	0.00	0.00	0.00	-6.33	57	45	34	70	99	86
Net Working Capital (NWC)	0.00	0.00	0.00	-6.33	57	45	34	70	99	86
Net Nonoperating Expense (NNE)	3.06	3.44	3.71	4.02	3.45	3.26	3.47	5.54	31	9.18
Net Nonoperating Obligations (NNO)	0.00	0.00	0.00	-2.53	-64	-49	-39	-75	-111	-100
Total Depreciation and Amortization (D&A)	0.00	0.44	0.42	0.42	0.42	0.42	0.43	0.42	0.37	0.52
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	-1,112.58%	-270.79%	-176.29%	-143.35%	-351.11%	-365.18%
Debt-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	8,709.36%	2,995.63%	1,122.41%	1,836.01%	2,818.21%	2,175.22%
Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	8,709.36%	2,995.63%	1,122.41%	1,836.01%	2,818.21%	2,175.22%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	($24.19)	$65.72	($0.62)	($0.62)	($0.55)	($0.86)	($0.32)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	0.00	557.44K	4.69M	20.15M	20.16M	27.27M	30.38M	57.92M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	($24.19)	$65.72	($0.62)	($0.62)	($0.55)	($0.86)	($0.32)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00	557.44K	4.69M	20.15M	20.16M	27.27M	30.38M	57.92M
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
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	20.16M	20.16M	20.16M	20.16M	46.88M	51.92M	51.93M
Normalized Net Operating Profit after Tax (NOPAT)	-8.64	-9.01	-8.86	-9.46	-9.82	-9.17	-9.12	-9.21	-8.94	-9.15
Normalized NOPAT Margin	-2,467.60%	0.00%	0.00%	0.00%	-1,506.83%	-1,068.76%	-609.19%	-1,158.48%	-2,569.89%	-707.09%
Pre Tax Income Margin	-3,328.29%	0.00%	0.00%	0.00%	-2,031.60%	-1,449.07%	-840.82%	-1,899.25%	-11,520.69%	-1,416.62%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	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	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	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%
Augmented Payout Ratio	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

Camp4 Therapeutics (NASDAQ: CAMP) remains a development-stage biotech with very limited revenue, persistent operating losses, and a balance sheet that has been heavily reshaped by financing activity over the last year. The biggest takeaway from the latest quarter is that the company still has a sizeable cash cushion, but it is burning that cash quickly and depends on capital markets to keep funding operations.

Cash and equivalents increased to $99.2 million at the end of Q1 2026, up from $75.3 million in Q3 2025 and $49.3 million in Q1 2025.
The company reported a positive net cash flow from financing activities in Q1 2026, helped by equity issuance, which added some support to liquidity.
Revenue improved year over year in Q1 2026, rising to $1.29 million from $858,000 in Q1 2025.
Operating losses narrowed in Q1 2026 to -$13.1 million, versus -$13.2 million in Q1 2025 and -$14.0 million in Q1 2024, showing some modest operating discipline.
Other income was less of a drag in Q1 2026 than in the prior quarter, which helped reduce the total quarterly loss compared with Q4 2025.
The balance sheet shows $105.5 million in total assets against $74.6 million in liabilities, leaving $30.9 million in common equity.
Deferred revenue remains meaningful, with $11.1 million current and $5.2 million noncurrent, but investors should note this is not the same as recurring product revenue.
Research and development spending remained elevated at $10.2 million in Q1 2026, consistent with a biotech still investing in pipeline development.
Camp4 is still unprofitable, posting a Q1 2026 net loss of -$18.3 million.
Operating cash flow was negative $10.98 million in Q1 2026, meaning the core business continues to consume cash.
The company’s cash balance declined by $10.9 million during Q1 2026, despite financing inflows, underscoring ongoing burn.
Revenue is still very small relative to expenses: Q1 2026 revenue of $1.29 million did not come close to covering $14.4 million in operating expenses.
There has been significant share dilution over time, with weighted average basic shares rising sharply from earlier periods, which can pressure per-share value for existing shareholders.

Looking at the broader trend, Camp4’s financial profile has improved on the liquidity side since early 2025, largely because of large equity raises. However, the underlying business remains in the classic biotech pattern of high R&D spending, weak revenue, and recurring losses. The company’s current cash position gives it breathing room, but unless revenue scales meaningfully or development milestones change the cash burn profile, future dilution or additional financing remains a real possibility.

07/22/26 04:57 AM ETAI Generated. May Contain Errors.

CAMP4 Therapeutics Financials - Frequently Asked Questions

According to the most recent income statement we have on file, CAMP4 Therapeutics' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

CAMP4 Therapeutics' net income appears to be on an upward trend, with a most recent value of -$80.40 million in 2025, rising from -$49.29 million in 2023. The previous period was -$51.79 million in 2024. See where experts think CAMP4 Therapeutics is headed by visiting CAMP4 Therapeutics' forecast page.

CAMP4 Therapeutics' total operating income in 2025 was -$52.56 million, based on the following breakdown:

Total Gross Profit: $3.50 million
Total Operating Expenses: $55.56 million

Over the last 2 years, CAMP4 Therapeutics' total revenue changed from $350 thousand in 2023 to $3.50 million in 2025, a change of 899.4%.

CAMP4 Therapeutics' total liabilities were at $70.10 million at the end of 2025, a 362.3% increase from 2024, and a 324.1% increase since 2023.

In the past 2 years, CAMP4 Therapeutics' cash and equivalents has ranged from $38.38 million in 2023 to $109.52 million in 2025, and is currently $109.52 million as of their latest financial filing in 2025.

Over the last 2 years, CAMP4 Therapeutics' book value per share changed from -313.26 in 2023 to 1.02 in 2025, a change of -100.3%.

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Financial statements for NASDAQ:CAMP last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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CAMP4 Therapeutics (CAMP) Financials

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CAMP4 Therapeutics (CAMP) Financials

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