Go Pro
→ Don’t Buy SPCX Until You Read This (From Porter & Company) (Ad)tc pixel Free CARM Stock Alerts

Carisma Therapeutics (CARM) Financials

Carisma Therapeutics logo
$0.0052 0.00 (-8.77%)
As of 07/17/2026 12:48 PM Eastern
Compare
Annual Income Statements for Carisma Therapeutics

Annual Income Statements for Carisma Therapeutics

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

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 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
Net Income / (Loss) Attributable to Common Shareholders		 -35 -33 1.89 -29 -34 -108 -23 -0.34 -61 -87 -60
Consolidated Net Income / (Loss)		 -34 -33 1.89 -29 -34 -108 -22 -0.34 -61 -87 -60
Net Income / (Loss) Continuing Operations		 -34 -33 1.89 -29 -34 -108 -22 -0.34 -61 -87 -60
Total Pre-Tax Income 		-34 -33 1.90 -29 -34 -108 -21 -8.61 -61 -87 -60
Total Operating Income		 -33 -35 2.87 -29 -35 -108 -21 -8.55 -56 -89 -62
Total Gross Profit		 2.24 1.00 30 0.43 0.00 0.00 11 27 9.83 15 20
Total Revenue		 2.24 1.00 30 0.43 0.00 0.00 11 27 9.83 15 20
Operating Revenue		 2.24 1.00 30 0.43 0.00 0.00 11 27 9.83 15 20
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		 35 36 27 30 35 108 32 35 66 104 82
Selling, General & Admin Expense		 8.47 9.85 15 8.07 12 12 14 29 9.38 30 22
Research & Development Expense		 27 26 13 13 14 25 29 25 57 74 60
Total Other Income / (Expense), net		 -1.23 1.74 -0.97 0.23 0.81 0.99 0.13 -0.06 -5.06 1.85 1.70
Interest & Investment Income		 -0.38 -1.40 -0.25 - - - 0.22 0.02 -3.15 1.94 1.70
Other Income / (Expense), net		 -0.85 3.14 -0.72 0.23 0.81 0.99 -0.10 -0.08 -1.92 -0.08 0.00
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)		 - - - - - - - - 0.00 0.40 0.00
Basic Earnings per Share		 ($2.37) ($1.76) $0.09 ($1.11) ($0.55) ($1.18) ($0.19) $0.00 ($28.77) ($2.59) ($1.46)
Weighted Average Basic Shares Outstanding		 14.64M 18.99M 21.08M 26.11M 61.77M 90.93M 118.22M 182.32M 2.13M 33.52M 41.46M
Diluted Earnings per Share		 ($2.37) ($1.76) $0.09 ($1.11) ($0.55) ($1.18) ($0.19) $0.00 ($28.77) ($2.59) ($1.46)
Weighted Average Diluted Shares Outstanding		 14.64M 18.99M 21.73M 26.11M 61.77M 90.93M 118.22M 182.32M 2.13M 33.52M 41.46M
Weighted Average Basic & Diluted Shares Outstanding		 14.64M 19M 21M 26.11M 61.77M 90.93M 118.22M 199.46M 203.49M 41.54M 41.79M

Quarterly Income Statements for Carisma Therapeutics

This table shows Carisma Therapeutics' 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
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
Net Income / (Loss) Attributable to Common Shareholders		 -21 -22 -19 -11 -13 -18 -9.27 -9.77 45
Consolidated Net Income / (Loss)		 -21 -21 -19 -11 -13 -18 -9.27 -9.77 45
Net Income / (Loss) Continuing Operations		 -21 -21 -19 -11 -13 -18 -9.27 -9.77 44
Total Pre-Tax Income 		-21 -21 -19 -11 -13 -18 -9.27 -9.77 44
Total Operating Income		 -22 -22 -20 -12 -13 -18 -9.33 -5.78 44
Total Gross Profit		 3.83 4.29 3.40 9.20 3.39 3.65 3.73 0.00 45
Total Revenue		 3.83 4.29 3.40 9.20 3.39 3.65 3.73 0.00 45
Operating Revenue		 3.83 4.29 3.40 9.20 3.39 3.65 3.73 0.00 45
Total Cost of Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00
Total Operating Expenses		 26 27 23 21 17 22 13 9.32 1.12
Selling, General & Admin Expense		 6.62 7.32 5.45 5.56 5.20 5.93 3.91 3.35 1.24
Research & Development Expense		 20 19 17 15 11 16 9.16 2.42 0.20
Other Operating Expenses / (Income)		 - - - 0.00 0.00 - - - 0.00
Other Special Charges / (Income)		 - - - 0.00 0.00 - - 3.54 -0.32
Total Other Income / (Expense), net		 0.94 1.30 0.53 0.51 0.44 0.22 0.07 -0.46 0.58
Other Income / (Expense), net		 0.00 - - 0.51 0.44 - - -0.46 0.58
Income Tax Expense		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00
Basic Earnings per Share		 ($0.53) $0.36 ($0.46) ($0.27) ($0.31) ($0.42) ($0.22) ($0.23) $1.07
Weighted Average Basic Shares Outstanding		 40.29M 33.52M 40.94M 41.54M 41.59M 41.46M 41.77M 41.79M 41.79M
Diluted Earnings per Share		 ($0.53) $0.36 ($0.46) ($0.27) ($0.31) ($0.42) ($0.22) ($0.23) $1.07
Weighted Average Diluted Shares Outstanding		 40.29M 33.52M 40.94M 41.54M 41.59M 41.46M 41.77M 41.79M 41.94M
Weighted Average Basic & Diluted Shares Outstanding		 40.36M 41.54M 41.54M 41.54M 41.75M 41.79M 41.79M 41.79M 41.85M

Annual Cash Flow Statements for Carisma Therapeutics

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

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 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
Net Change in Cash & Equivalents		 46 -18 -11 -11 36 -2.30 7.27 107 -4.36 53 -60
Net Cash From Operating Activities		 -29 -35 2.54 -18 -23 -38 -31 -69 -5.12 -81 -60
Net Cash From Continuing Operating Activities		 -29 -35 2.54 -18 -23 -38 -31 -69 -5.12 -81 -60
Net Income / (Loss) Continuing Operations		 -34 -33 1.89 -29 -34 -108 -22 -0.34 -61 -87 -60
Consolidated Net Income / (Loss)		 -34 -33 1.89 -29 -34 -108 -22 -0.34 -61 -87 -60
Depreciation Expense		 0.41 0.37 0.18 0.29 0.21 0.22 0.12 0.09 1.89 2.84 3.35
Amortization Expense		 - - - - - - 0.00 0.00 2.54 1.28 0.00
Non-Cash Adjustments To Reconcile Net Income		 3.33 -0.47 2.33 10 10 1.24 1.76 37 1.83 2.08 3.63
Changes in Operating Assets and Liabilities, net		 1.11 -0.98 -1.86 0.72 0.58 69 -10 -105 50 -0.50 -6.43
Net Cash From Investing Activities		 -0.14 -0.29 0.46 0.10 -0.00 -0.14 -0.01 -0.00 -33 72 -0.12
Net Cash From Continuing Investing Activities		 -0.14 -0.29 0.46 0.10 -0.00 -0.14 -0.01 -0.00 -33 72 -0.12
Purchase of Property, Plant & Equipment		 -0.14 -0.29 - - -0.00 -0.14 -0.01 -0.00 -4.66 -1.13 -0.12
Purchase of Investments		 - - - - - - 0.00 0.00 -91 -34 0.00
Sale and/or Maturity of Investments		 - - - - - - 0.00 0.00 63 108 0.00
Net Cash From Financing Activities		 76 17 -14 7.01 59 35 38 176 33 62 0.34
Net Cash From Continuing Financing Activities		 76 17 -14 7.01 59 35 38 176 33 62 0.34
Repayment of Debt		 -4.63 -0.88 -14 - - - - - -2.45 -0.15 0.00
Issuance of Common Equity		 70 13 0.04 6.92 51 30 38 175 0.00 31 2.39
Other Financing Activities, net		 0.07 0.06 0.27 0.09 7.59 5.58 0.14 1.17 0.77 31 -2.05
Cash Interest Paid		 0.34 0.93 0.66 - - - - - 0.10 0.35 0.19

Quarterly Cash Flow Statements for Carisma Therapeutics

This table details how cash moves in and out of Carisma Therapeutics' 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
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
Net Change in Cash & Equivalents		 6.78 -5.56 -21 -16 -13 -8.97 -10 -5.74 0.78
Net Cash From Operating Activities		 -21 -16 -22 -16 -13 -8.35 -10 -5.90 1.91
Net Cash From Continuing Operating Activities		 -21 -16 -22 -16 -13 -8.35 -10 -5.90 1.91
Net Income / (Loss) Continuing Operations		 -21 -21 -19 -11 -13 -18 -9.27 -9.77 45
Consolidated Net Income / (Loss)		 -21 -21 -19 -11 -13 -18 -9.27 -9.77 45
Non-Cash Adjustments To Reconcile Net Income		 4.02 -2.89 1.37 0.49 6.69 -4.92 1.50 5.27 0.13
Changes in Operating Assets and Liabilities, net		 -4.31 7.03 -6.51 -5.71 -7.75 14 -2.96 -1.40 -43
Net Cash From Financing Activities		 -2.03 0.10 1.35 0.07 -0.46 -0.62 -0.63 - -1.13
Net Cash From Continuing Financing Activities		 -2.03 0.10 1.35 0.07 -0.46 -0.62 -0.63 - -1.13
Other Financing Activities, net		 -1.89 -0.50 -0.93 0.07 -0.59 -0.60 -0.63 - -1.13

Annual Balance Sheets for Carisma Therapeutics

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

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 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
Total Assets		 55 37 104 75 112 114 123 241 72 90 30
Total Current Assets		 54 36 26 15 52 54 63 206 55 80 24
Cash & Equivalents		 54 36 25 15 50 48 52 163 24 78 18
Prepaid Expenses		 0.34 0.23 0.59 0.30 1.33 6.33 7.48 18 2.60 2.87 5.92
Other Current Nonoperating Assets		 - - - - - - - - - - 0.00
Plant, Property, & Equipment, net		 0.49 0.41 0.80 0.52 0.32 0.24 0.12 0.04 8.63 6.76 4.39
Total Noncurrent Assets		 0.11 0.11 77 60 60 60 60 35 8.93 2.17 2.04
Other Noncurrent Operating Assets		 0.02 0.01 0.00 0.12 0.00 0.20 0.35 7.32 4.82 2.17 2.04
Total Liabilities & Shareholders' Equity		 55 37 104 75 112 114 123 241 72 90 30
Total Liabilities		 18 18 65 57 67 141 132 69 107 63 58
Total Current Liabilities		 5.20 7.58 3.98 4.72 6.11 8.52 18 12 20 16 16
Accounts Payable		 2.46 1.25 1.78 0.91 1.37 1.90 3.10 2.85 1.73 3.93 2.08
Accrued Expenses		 1.99 1.79 1.77 3.81 4.75 6.17 3.97 8.26 10 7.66 7.45
Current Deferred Revenue		 0.51 0.41 0.43 - - 0.00 1.50 - 2.46 1.41 3.73
Other Current Liabilities		 - - - - 0.00 0.45 0.49 0.46 5.12 2.90 2.80
Total Noncurrent Liabilities		 13 10 61 52 61 133 114 57 87 47 42
Noncurrent Deferred Revenue		 - - - - - 0.00 1.50 1.50 45 45 41
Other Noncurrent Operating Liabilities		 3.22 0.54 45 40 49 120 100 52 8.63 2.11 1.06
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 - - 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 37 19 39 18 44 -27 -9.23 172 -143 27 -28
Total Preferred & Common Equity		 37 19 39 18 44 -27 -9.23 172 -157 27 -28
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		 37 19 39 18 44 -27 -9.23 172 -157 27 -28
Common Stock		 129 144 162 170 230 267 307 488 1.20 272 278
Retained Earnings		 -92 -125 -123 -152 -186 -294 -316 -316 -158 -245 -306

Quarterly Balance Sheets for Carisma Therapeutics

This table presents Carisma 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 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025
Total Assets		 107 74 59 42 16 5.01 6.55
Total Current Assets		 98 61 51 34 14 4.30 5.87
Cash & Equivalents		 83 57 40 27 7.74 2.00 2.78
Prepaid Expenses		 3.43 4.44 10 7.26 2.90 2.29 3.09
Other Current Nonoperating Assets		 - - - - 3.31 0.01 0.00
Plant, Property, & Equipment, net		 7.38 7.55 6.53 5.39 0.00 0.00 0.00
Total Noncurrent Assets		 1.84 5.29 1.95 2.32 2.00 0.72 0.68
Other Noncurrent Operating Assets		 1.69 5.15 1.95 2.32 2.00 0.72 0.68
Total Liabilities & Shareholders' Equity		 107 74 59 42 16 5.01 6.55
Total Liabilities		 60 63 59 53 53 51 7.42
Total Current Liabilities		 13 13 16 11 10 8.95 6.81
Accounts Payable		 2.41 2.17 2.03 1.73 3.25 4.76 5.57
Accrued Expenses		 7.03 4.73 9.24 4.54 4.71 2.53 1.09
Current Deferred Revenue		 1.19 1.19 0.66 0.68 0.00 0.00 0.00
Other Current Liabilities		 2.33 5.06 3.68 3.61 2.49 1.67 0.15
Total Noncurrent Liabilities		 48 50 43 43 42 42 0.61
Noncurrent Deferred Revenue		 45 45 41 41 41 41 0.00
Other Noncurrent Operating Liabilities		 2.54 4.76 2.11 1.38 0.92 0.82 0.61
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 46 11 0.36 -11 -37 -46 -0.87
Total Preferred & Common Equity		 46 11 0.36 -11 -37 -46 -0.87
Preferred Stock		 - 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 46 11 0.36 -11 -37 -46 -0.87
Common Stock		 270 275 276 277 278 279 279
Retained Earnings		 -224 -264 -275 -288 -315 -325 -280

Annual Metrics And Ratios for Carisma Therapeutics

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

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 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
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 68.14% -55.42% 2,857.50% -98.56% -100.00% 0.00% 0.00% 136.24% -62.95% 51.71% 31.59%
EBITDA Growth		 -106.15% 5.03% 107.32% -1,338.43% -16.49% -220.39% 80.37% 59.43% -528.16% -57.86% 30.54%
EBIT Growth		 -103.19% 5.10% 106.69% -1,454.60% -16.07% -219.06% 80.30% 59.27% -573.32% -52.92% 29.99%
NOPAT Growth		 -99.85% -6.88% 111.60% -816.42% -17.93% -214.47% 80.57% 59.44% -556.94% -57.99% 29.92%
Net Income Growth		 -89.49% 2.06% 105.65% -1,635.11% -16.07% -219.06% 79.17% 98.50% -18,122.02% -41.90% 30.39%
EPS Growth		 85.35% 25.74% 105.11% -1,333.33% 50.45% -114.55% 83.90% 100.00% 0.00% 91.00% 43.63%
Operating Cash Flow Growth		 -117.19% -17.82% 107.35% -799.96% -28.51% -64.36% 17.81% -123.36% 92.57% -1,486.73% 26.19%
Free Cash Flow Firm Growth		 -63.05% -69.45% 51.81% 23.92% -39.15% 50.01% -364.88% -98.00% 134.98% -389.85% 28.51%
Invested Capital Growth		 -525.17% 54.52% 499.91% -74.90% -285.38% -1,107.31% 25.64% 110.01% -1,127.49% 10.54% 10.14%
Revenue Q/Q Growth		 -5.68% 25.00% -0.52% -49.64% 0.00% 0.00% 0.00% 305.62% -62.33% 3.89% -3.14%
EBITDA Q/Q Growth		 -12.98% -6.49% 173.99% -7.92% -0.67% -33.29% 46.92% 73.61% -67.23% -9.15% 7.17%
EBIT Q/Q Growth		 -12.78% -6.32% 164.51% -7.82% -0.63% -33.20% 46.81% 73.44% -74.51% -8.00% 6.88%
NOPAT Q/Q Growth		 -9.93% -8.45% 221.90% -11.30% -1.39% -32.60% 47.55% 73.40% -76.16% -8.74% 6.88%
Net Income Q/Q Growth		 -9.89% -7.01% 138.54% -11.59% -0.63% -33.20% 45.29% 98.62% -30.67% -21.77% 5.21%
EPS Q/Q Growth		 99.54% -100.35% 125.71% -8.82% 14.06% -20.41% 54.76% 100.00% -37.52% 75.70% -114.71%
Operating Cash Flow Q/Q Growth		 -16.18% -6.95% 304.18% 10.01% -21.39% -19.63% 14.66% -6.31% -730.52% 1.22% 11.45%
Free Cash Flow Firm Q/Q Growth		 0.00% -21.16% 14.53% 21.51% -37.54% 93.00% -148.50% -0.63% 240.84% -134.92% 13.79%
Invested Capital Q/Q Growth		 -84.47% -9.00% 24.05% -41.52% 17.14% -289.08% 4.94% 139.11% -188.12% -6.74% -20.44%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 100.00% 100.00% 100.00% 100.00% 0.00% 0.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 -1,487.74% -3,169.10% 7.85% -6,763.29% 0.00% 0.00% -187.38% -32.18% -545.57% -567.70% -299.64%
Operating Margin		 -1,468.17% -3,519.60% 9.69% -6,883.53% 0.00% 0.00% -187.58% -32.21% -571.10% -594.75% -316.72%
EBIT Margin		 -1,506.02% -3,205.70% 7.25% -6,830.35% 0.00% 0.00% -188.47% -32.50% -590.61% -595.31% -316.72%
Profit (Net Income) Margin		 -1,522.78% -3,345.20% 6.39% -6,830.35% 0.00% 0.00% -199.33% -1.27% -622.60% -582.34% -308.05%
Tax Burden Percent		 100.00% 100.00% 99.74% 100.00% 100.00% 100.00% 106.90% 3.90% 100.00% 100.00% 100.00%
Interest Burden Percent		 101.11% 104.35% 88.47% 100.00% 100.00% 100.00% 98.94% 99.80% 105.41% 97.82% 97.26%
Effective Tax Rate		 0.00% 0.00% 0.26% 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% 57.21% -245.71% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 61.27% -203.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% -50.65% 143.33% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -174.39% -119.96% 6.56% -102.38% -108.27% -1,228.08% 124.68% -0.41% -89.48% 2,085.93% 8,783.88%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% -103.55% -125.95% 0.00% 0.00% 0.00% -1,206.16% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 -102.00% -69.82% 3.04% -32.40% 0.00% 0.00% -17.86% -4.75% -37.12% -109.85% -103.62%
Return on Assets (ROA)		 -103.13% -72.86% 2.68% -32.40% 0.00% 0.00% -18.89% -0.18% -39.13% -107.45% -100.78%
Return on Common Equity (ROCE)		 77.94% -119.96% 6.56% -102.38% -108.27% -1,228.08% 124.68% -0.41% -9.58% 32,687.00% 8,783.88%
Return on Equity Simple (ROE_SIMPLE)		 -92.75% -176.58% 4.89% -160.97% -76.22% 402.62% 242.73% -0.20% 38.98% -327.45% 216.69%
Net Operating Profit after Tax (NOPAT)		 -23 -25 2.86 -20 -24 -76 -15 -5.98 -39 -62 -44
NOPAT Margin		 -1,027.72% -2,463.72% 9.67% -4,818.47% 0.00% 0.00% -131.31% -22.54% -399.77% -416.33% -221.71%
Net Nonoperating Expense Percent (NNEP)		 -46.59% -26.54% -4.06% -42.71% -29.32% -64.04% -16.16% 5.31% -23.25% -49.46% -35.36%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - - -234.10% 155.95%
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		 377.66% 985.00% 49.83% 1,898.82% 0.00% 0.00% 127.29% 110.73% 95.36% 197.90% 112.76%
R&D to Revenue		 1,190.50% 2,633.60% 45.58% 2,943.53% 0.00% 0.00% 259.80% 95.36% 575.74% 496.85% 303.96%
Operating Expenses to Revenue		 1,568.17% 3,618.60% 90.31% 6,983.53% 0.00% 0.00% 287.58% 132.21% 671.10% 694.75% 416.72%
Earnings before Interest and Taxes (EBIT)		 -34 -32 2.14 -29 -34 -108 -21 -8.63 -58 -89 -62
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -33 -32 2.32 -29 -33 -107 -21 -8.54 -54 -85 -59
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.26 0.16 0.06 0.07 0.12 0.00 0.00 0.05 0.00 4.46 0.00
Price to Tangible Book Value (P/TBV)		 0.26 0.16 0.00 0.00 0.00 0.00 0.00 0.06 0.00 4.46 0.00
Price to Revenue (P/Rev)		 4.31 2.95 0.08 3.04 0.00 0.00 0.78 0.31 0.63 7.93 0.89
Price to Earnings (P/E)		 0.00 0.00 1.22 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% 81.69% 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)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 11.20 2.72 0.00
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 4.68 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.27 0.73 0.00 0.00 0.00 0.00 -0.97 0.00 -0.97 0.00 0.00
Long-Term Debt to Equity		 0.26 0.52 0.00 0.00 0.00 0.00 0.00 0.00 -0.97 0.00 0.00
Financial Leverage		 -1.22 -1.19 -0.83 -0.71 -1.05 -5.63 2.63 -1.31 -1.38 12.02 69.62
Leverage Ratio		 1.69 1.65 2.45 3.16 3.00 12.90 -6.60 2.24 2.29 -19.41 -87.15
Compound Leverage Factor		 1.71 1.72 2.16 3.16 3.00 12.90 -6.53 2.23 2.41 -18.99 -84.77
Debt to Total Capital		 21.36% 42.32% 0.00% 0.00% 0.00% 0.00% -3,712.81% 0.00% -2,944.72% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.54% 12.59% 0.00% 0.00% 0.00% 0.00% -3,712.81% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 20.82% 29.73% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -2,944.72% 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% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -10,672.75% 0.00% 0.00%
Common Equity to Total Capital		 78.64% 57.68% 100.00% 100.00% 100.00% 100.00% 3,812.81% 100.00% 13,717.47% 100.00% 100.00%
Debt to EBITDA		 -0.30 -0.44 0.00 0.00 0.00 0.00 -0.43 0.00 -0.63 0.00 0.00
Net Debt to EBITDA		 1.32 0.70 0.00 0.00 0.00 0.00 2.20 0.00 0.34 0.00 0.00
Long-Term Debt to EBITDA		 -0.29 -0.31 0.00 0.00 0.00 0.00 0.00 0.00 -0.63 0.00 0.00
Debt to NOPAT		 -0.43 -0.56 0.00 0.00 0.00 0.00 -0.61 0.00 -0.86 0.00 0.00
Net Debt to NOPAT		 1.91 0.90 0.00 0.00 0.00 0.00 3.15 0.00 0.47 0.00 0.00
Long-Term Debt to NOPAT		 -0.42 -0.40 0.00 0.00 0.00 0.00 0.00 0.00 -0.86 0.00 0.00
Altman Z-Score		 -2.93 -6.57 -1.03 -3.93 -2.79 -6.19 -3.60 -0.81 -4.97 -4.95 -19.65
Noncontrolling Interest Sharing Ratio		 144.69% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 89.30% -1,467.02% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 10.46 4.79 6.51 3.17 8.47 6.39 3.48 17.77 2.78 5.06 1.48
Quick Ratio		 10.39 4.76 6.37 3.11 8.25 5.65 2.90 15.88 2.64 4.88 1.12
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -17 -29 -14 -10 -15 -7.30 -34 -67 24 -68 -49
Operating Cash Flow to CapEx		 -21,391.97% -12,031.01% 0.00% 0.00% -1,141,450.00% -27,588.97% -385,462.50% -1,721,950.00% -109.79% -7,171.11% -48,713.01%
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 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 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 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.07 0.02 0.42 0.00 0.00 0.00 0.09 0.15 0.06 0.18 0.33
Accounts Receivable Turnover		 0.00 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 0.00
Fixed Asset Turnover		 3.60 2.24 49.17 0.64 0.00 0.00 62.25 319.81 2.27 1.94 3.52
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 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 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 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -7.33 -3.33 13 3.34 -6.20 -75 -56 5.57 -57 -51 -46
Invested Capital Turnover		 -0.53 -0.19 5.92 0.05 0.00 0.00 -0.17 -1.06 -0.38 -0.28 -0.40
Increase / (Decrease) in Invested Capital		 -6.16 4.00 17 -9.98 -9.54 -69 19 61 -63 6.03 5.19
Enterprise Value (EV)		 -34 -19 -23 -13 -45 -43 -38 -155 110 41 -0.42
Market Capitalization		 9.68 2.95 2.31 1.29 5.50 5.44 8.73 8.13 6.18 118 17
Book Value per Share		 $2.26 $0.97 $1.60 $0.57 $0.57 ($0.26) ($0.07) $0.86 ($0.77) $0.66 ($0.67)
Tangible Book Value per Share		 $2.26 $0.97 ($1.60) ($1.30) ($0.20) ($0.82) ($0.53) $0.72 ($0.77) $0.66 ($0.67)
Total Capital		 47 33 39 18 44 -27 -0.24 172 -1.15 27 -28
Total Debt		 10 14 0.00 0.00 0.00 0.00 8.99 0.00 34 0.00 0.00
Total Long-Term Debt		 9.75 9.76 0.00 0.00 0.00 0.00 0.00 0.00 34 0.00 0.00
Net Debt		 -44 -22 -25 -15 -50 -48 -46 -163 -18 -78 -18
Capital Expenditures (CapEx)		 0.14 0.29 -0.33 -0.10 0.00 0.14 0.01 0.00 4.66 1.13 0.12
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -4.61 -3.21 -3.40 -4.42 -4.78 -2.19 -1.59 31 -17 -13 -10
Debt-free Net Working Capital (DFNWC)		 49 33 22 10 46 46 54 194 35 65 7.77
Net Working Capital (NWC)		 49 29 22 10 46 46 45 194 35 65 7.77
Net Nonoperating Expense (NNE)		 11 8.81 0.97 8.55 9.54 32 7.64 -5.65 22 25 17
Net Nonoperating Obligations (NNO)		 -44 -22 -25 -15 -50 -48 -46 -166 -22 -78 -18
Total Depreciation and Amortization (D&A)		 0.41 0.37 0.18 0.29 0.21 0.22 0.12 0.09 4.43 4.12 3.35
Debt-free, Cash-free Net Working Capital to Revenue		 -205.48% -321.40% -11.48% -1,039.76% 0.00% 0.00% -14.12% 118.30% -173.62% -87.42% -51.65%
Debt-free Net Working Capital to Revenue		 2,204.64% 3,286.50% 74.21% 2,414.35% 0.00% 0.00% 478.84% 731.00% 355.11% 432.76% 39.58%
Net Working Capital to Revenue		 2,193.45% 2,873.10% 74.21% 2,414.35% 0.00% 0.00% 398.88% 731.00% 355.11% 432.76% 39.58%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($47.40) ($35.20) $1.80 ($22.20) ($11.00) ($23.60) ($3.80) $0.00 ($2.00) ($2.59) ($1.46)
Adjusted Weighted Average Basic Shares Outstanding		 905.42K 984.24K 1.05M 1.31M 3.09M 5.50M 16.76M 9.12M 10.03M 33.52M 41.46M
Adjusted Diluted Earnings per Share		 ($47.40) ($35.20) $1.80 ($22.20) ($11.00) ($23.60) ($3.80) $0.00 ($2.00) ($2.59) ($1.46)
Adjusted Weighted Average Diluted Shares Outstanding		 905.42K 984.24K 1.09M 1.31M 3.09M 5.50M 16.76M 9.12M 10.03M 33.52M 41.46M
Adjusted Basic & Diluted Earnings per Share		 ($47.40) ($35.20) $0.00 $0.00 ($11.00) ($23.60) ($3.80) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 732.20K 949.65K 1.24M 2.16M 3.87M 4.55M 5.91M 9.97M 10.17M 41.54M 41.79M
Normalized Net Operating Profit after Tax (NOPAT)		 -23 -25 2.86 -20 -24 -26 -23 -20 -39 -62 -44
Normalized NOPAT Margin		 -1,027.72% -2,463.72% 9.67% -4,818.47% 0.00% 0.00% -200.96% -74.26% -399.77% -416.33% -221.71%
Pre Tax Income Margin		 -1,522.78% -3,345.20% 6.41% -6,830.35% 0.00% 0.00% -186.47% -32.43% -622.60% -582.34% -308.05%
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 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 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 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 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		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for Carisma Therapeutics

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
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
DEI Shares Outstanding		 40,284,845.00 40,356,806.00 41,542,534.00 41,542,744.00 41,544,975.00 - 41,788,096.00 41,788,096.00 41,788,096.00
DEI Adjusted Shares Outstanding		 40,284,845.00 40,356,806.00 41,542,534.00 41,542,744.00 41,544,975.00 - 41,788,096.00 41,788,096.00 41,788,096.00
DEI Earnings Per Adjusted Shares Outstanding		 -0.53 -0.54 -0.46 -0.27 -0.31 - -0.22 -0.23 1.07
Growth Metrics		 - - - - - - - - -
Revenue Growth		 48.45% 14.96% 4.75% 158.34% -11.55% -14.83% 9.77% -100.00% 1,236.78%
EBITDA Growth		 -35.27% -48.57% 15.43% 46.14% 44.73% 20.90% 51.32% 42.83% 471.06%
EBIT Growth		 -28.27% -41.44% 15.38% 46.76% 43.15% 20.47% 52.16% 44.14% 449.53%
NOPAT Growth		 -33.39% -46.52% 15.07% 44.34% 41.17% 20.47% 52.16% 50.49% 576.20%
Net Income Growth		 -16.78% -286.18% 22.99% 43.84% 40.65% 15.86% 51.18% 12.44% 452.05%
EPS Growth		 93.67% 104.67% 76.17% 44.90% 41.51% -216.67% 52.17% 14.81% 445.16%
Operating Cash Flow Growth		 -152.36% 5.87% 12.18% 13.09% 38.00% 48.11% 55.11% 63.37% 114.65%
Free Cash Flow Firm Growth		 304.39% -141.74% -152.24% -209.17% -252.09% 18.65% 77.97% 120.63% 148.74%
Invested Capital Growth		 -141.48% 10.54% 13.49% 20.54% 20.36% 10.14% -4.27% -19.61% 90.46%
Revenue Q/Q Growth		 7.50% 12.07% -20.80% 170.74% -63.19% 7.92% 2.08% -100.00% 0.00%
EBITDA Q/Q Growth		 -6.91% -0.36% 18.00% 38.78% -9.70% -38.52% 49.53% 28.11% 812.06%
EBIT Q/Q Growth		 -6.58% -0.47% 13.10% 42.79% -13.80% -35.84% 47.72% 33.20% 812.06%
NOPAT Q/Q Growth		 -6.58% -0.47% 13.10% 40.18% -12.63% -35.84% 47.72% 38.10% 1,183.27%
Net Income Q/Q Growth		 -7.68% 2.08% 9.45% 41.18% -13.80% -38.84% 47.46% -5.48% 557.51%
EPS Q/Q Growth		 -8.16% 167.92% -227.78% 41.30% -14.81% -35.48% 47.62% -4.55% 565.22%
Operating Cash Flow Q/Q Growth		 -13.22% 23.34% -39.31% 28.12% 19.23% 35.85% -20.53% 41.35% 132.32%
Free Cash Flow Firm Q/Q Growth		 -26.57% -274.36% 4.40% 10.81% -2.30% 6.74% 74.11% 183.53% 141.64%
Invested Capital Q/Q Growth		 5.02% -6.74% 10.65% 12.28% 4.81% -20.44% -3.67% -0.63% 92.40%
Profitability Metrics		 - - - - - - - - -
Gross Margin		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 0.00% 100.00%
EBITDA Margin		 -565.69% -506.60% -524.49% -118.59% -353.47% -470.46% -232.58% 0.00% 98.11%
Operating Margin		 -583.85% -523.43% -574.33% -126.89% -388.30% -488.78% -250.31% 0.00% 96.83%
EBIT Margin		 -583.85% -523.43% -574.33% -121.37% -375.24% -488.78% -250.31% 0.00% 98.11%
Profit (Net Income) Margin		 -559.26% -488.65% -558.67% -121.37% -375.24% -482.75% -248.48% 0.00% 98.82%
Tax Burden Percent		 100.00% 99.07% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.72%
Interest Burden Percent		 95.79% 94.23% 97.27% 100.00% 100.00% 98.77% 99.27% 156.76% 100.00%
Effective Tax Rate		 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%
ROIC Less NNEP Spread (ROIC-NNEP)		 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%
Return on Equity (ROE)		 -67.52% 2,085.93% -167.51% -216.21% -362.79% 8,783.88% 394.03% 216.35% -134.11%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 -54.71% -96.58% -75.30% -26.13% -102.19% -159.91% -111.36% 0.00% 212.46%
Return on Assets (ROA)		 -52.41% -90.16% -73.25% -26.13% -102.19% -157.94% -110.55% 0.00% 213.99%
Return on Common Equity (ROCE)		 -67.52% 32,687.00% -167.51% -216.21% -362.79% 8,783.88% 394.03% 216.35% -134.11%
Return on Equity Simple (ROE_SIMPLE)		 -154.11% 0.00% -745.43% 0.00% 0.00% 0.00% 138.47% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -16 -16 -14 -8.17 -9.20 -12 -6.53 -4.04 44
NOPAT Margin		 -408.70% -366.40% -402.03% -88.82% -271.81% -342.14% -175.22% 0.00% 96.83%
Net Nonoperating Expense Percent (NNEP)		 -4.13% -10.47% -5.44% -3.80% -5.77% -10.72% -8.07% -26.95% 6.05%
Return On Investment Capital (ROIC_SIMPLE)		 - -59.23% -125.35% -2,269.17% 82.70% 44.78% 17.82% 8.79% -5,053.52%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 172.98% 170.76% 160.29% 60.45% 153.71% 162.33% 104.77% 0.00% 2.74%
R&D to Revenue		 510.87% 452.67% 514.04% 166.43% 334.59% 426.44% 245.54% 0.00% 0.44%
Operating Expenses to Revenue		 683.85% 623.43% 674.33% 226.89% 488.30% 588.78% 350.31% 0.00% 2.47%
Earnings before Interest and Taxes (EBIT)		 -22 -22 -20 -11 -13 -18 -9.33 -6.24 44
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -22 -22 -18 -11 -12 -17 -8.67 -6.24 44
Valuation Ratios		 - - - - - - - - -
Price to Book Value (P/BV)		 3.68 4.46 8.41 175.40 0.00 0.00 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)		 3.68 4.46 8.41 175.40 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 11.87 7.93 6.08 3.05 2.01 0.89 0.65 1.52 0.22
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.42
Dividend Yield		 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% 70.24%
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
Enterprise Value to Revenue (EV/Rev)		 5.31 2.72 2.33 1.10 0.69 0.00 0.26 1.33 0.16
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.71
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.80
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.80
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
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
Leverage & Solvency		 - - - - - - - - -
Debt to Equity		 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
Financial Leverage		 -1.32 12.02 -2.02 -2.35 -3.45 69.62 2.63 0.93 2.49
Leverage Ratio		 1.45 -19.41 2.37 2.87 4.23 -87.15 -3.48 -1.41 -4.05
Compound Leverage Factor		 1.39 -18.29 2.31 2.87 4.23 -86.08 -3.46 -2.21 -4.05
Debt to Total Capital		 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%
Long-Term Debt to Total Capital		 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%
Noncontrolling Interests to Total Capital		 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% 100.00% 100.00% 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
Net Debt to EBITDA		 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
Debt to NOPAT		 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
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 -0.85 -2.50 -4.03 -5.41 -8.97 -14.85 -27.90 -93.55 -28.65
Noncontrolling Interest Sharing Ratio		 0.00% -1,467.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - -
Current Ratio		 7.53 5.06 4.64 3.25 3.23 1.48 1.34 0.48 0.86
Quick Ratio		 7.27 4.88 4.30 2.58 2.55 1.12 0.74 0.22 0.41
Cash Flow Metrics		 - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 12 -22 -21 -19 -19 -18 -4.58 3.83 9.25
Operating Cash Flow to CapEx		 -11,110.58% -2,869.34% -131,911.76% -15,207.55% 0.00% 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
Operating Cash Flow to Interest Expense		 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
Efficiency Ratios		 - - - - - - - - -
Asset Turnover		 0.09 0.18 0.13 0.22 0.27 0.33 0.44 0.33 2.17
Accounts Receivable Turnover		 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
Fixed Asset Turnover		 0.00 1.94 1.93 2.93 3.17 3.52 0.00 0.00 0.00
Accounts Payable Turnover		 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
Days Inventory Outstanding (DIO)		 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
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - -
Invested Capital		 -48 -51 -46 -40 -38 -46 -48 -48 -3.65
Invested Capital Turnover		 -0.42 -0.28 -0.31 -0.46 -0.47 -0.40 -0.43 -0.24 -2.51
Increase / (Decrease) in Invested Capital		 -28 6.03 7.14 10 9.77 5.19 -1.95 -7.87 35
Enterprise Value (EV)		 76 41 35 23 14 -0.42 5.21 14 8.67
Market Capitalization		 170 118 92 63 41 17 13 16 11
Book Value per Share		 $1.15 $0.66 $0.27 $0.01 ($0.27) ($0.67) ($0.88) ($1.10) ($0.02)
Tangible Book Value per Share		 $1.15 $0.66 $0.27 $0.01 ($0.27) ($0.67) ($0.88) ($1.10) ($0.02)
Total Capital		 46 27 11 0.36 -11 -28 -37 -46 -0.87
Total Debt		 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
Net Debt		 -94 -78 -57 -40 -27 -18 -7.74 -2.00 -2.78
Capital Expenditures (CapEx)		 0.19 0.56 0.02 0.11 0.00 0.00 -0.52 -0.16 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -9.52 -13 -8.70 -5.26 -3.30 -10 -4.23 -6.65 -3.72
Debt-free Net Working Capital (DFNWC)		 85 65 48 35 24 7.77 3.51 -4.66 -0.94
Net Working Capital (NWC)		 85 65 48 35 24 7.77 3.51 -4.66 -0.94
Net Nonoperating Expense (NNE)		 5.76 5.24 5.32 2.99 3.50 5.14 2.73 5.73 -0.90
Net Nonoperating Obligations (NNO)		 -94 -78 -57 -41 -27 -18 -11 -2.01 -2.78
Total Depreciation and Amortization (D&A)		 0.70 0.72 1.69 0.26 0.74 0.67 0.66 0.00 0.00
Debt-free, Cash-free Net Working Capital to Revenue		 -66.31% -87.42% -57.74% -25.39% -16.29% -51.65% -21.20% -61.80% -7.07%
Debt-free Net Working Capital to Revenue		 589.19% 432.76% 317.20% 169.50% 116.34% 39.58% 17.57% -43.23% -1.79%
Net Working Capital to Revenue		 589.19% 432.76% 317.20% 169.50% 116.34% 39.58% 17.57% -43.23% -1.79%
Earnings Adjustments		 - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.53) $0.36 ($0.46) ($0.27) ($0.31) ($0.42) ($0.22) ($0.23) $1.07
Adjusted Weighted Average Basic Shares Outstanding		 40.29M 33.52M 40.94M 41.54M 41.59M 41.46M 41.77M 41.79M 41.79M
Adjusted Diluted Earnings per Share		 ($0.53) $0.36 ($0.46) ($0.27) ($0.31) ($0.42) ($0.22) ($0.23) $1.07
Adjusted Weighted Average Diluted Shares Outstanding		 40.29M 33.52M 40.94M 41.54M 41.59M 41.46M 41.77M 41.79M 41.94M
Adjusted Basic & Diluted Earnings per Share		 $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		 40.36M 41.54M 41.54M 41.54M 41.75M 41.79M 41.79M 41.79M 41.85M
Normalized Net Operating Profit after Tax (NOPAT)		 -16 -16 -14 -8.17 -9.20 -12 -6.53 -1.57 30
Normalized NOPAT Margin		 -408.70% -366.40% -402.03% -88.82% -271.81% -342.14% -175.22% 0.00% 67.28%
Pre Tax Income Margin		 -559.26% -493.24% -558.67% -121.37% -375.24% -482.75% -248.48% 0.00% 98.11%
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
NOPAT to Interest Expense		 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
NOPAT Less CapEx to Interest Expense		 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%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Carisma Therapeutics (NASDAQ: CARM) shows a dramatic shift in its financial profile in Q3 2025, but investors should be careful before reading too much into the headline numbers. Revenue jumped sharply year over year, profitability swung to a large gain, and cash increased modestly during the quarter. However, the balance sheet is still weak, with negative equity and a very thin cash position relative to liabilities.

One important note: the Q3 2025 income statement and cash flow statement appear unusually strong compared with prior periods, while the balance sheet still reflects a distressed capital structure. That can happen when a company books a large one-time item, restructuring gain, or asset-related accounting adjustment. For retail investors, the key question is whether this is durable operating improvement or a non-recurring accounting event.

  • Revenue surged in Q3 2025 to $45.3 million, up from $3.7 million in Q1 2025 and $3.4 million in Q3 2024, indicating a major quarter-over-quarter and year-over-year improvement.
  • The company reported net income of $44.7 million in Q3 2025, reversing the losses seen in earlier 2025 and 2024 quarters.
  • Operating cash flow turned positive in Q3 2025 at $1.9 million, versus a $5.9 million outflow in Q2 2025 and a $10.1 million outflow in Q1 2025.
  • Cash and equivalents increased sequentially to $2.8 million at September 30, 2025, from $2.0 million at the end of Q2 2025.
  • Operating expenses were far lower than revenue in Q3 2025, with total operating expenses of just $1.1 million, which produced substantial operating income.
  • Basic EPS was $1.07 in Q3 2025, compared with negative EPS in prior quarters, reflecting the earnings swing.
  • Shares outstanding were relatively stable around 41.8 million, suggesting the Q3 improvement was not driven by a major dilution event during the quarter.
  • Balance sheet equity remains negative at $(0.9) million in Q3 2025, which signals a fragile capital structure despite the improved quarter.
  • Total liabilities of $7.4 million still exceed assets of $6.6 million, leaving the company with a weak solvency profile.
  • Cash remains very limited at $2.8 million, which is small for a public biotech company and may still imply financing risk.

Looking at the longer trend, Carisma has been coming off a period of deep losses and cash burn. In Q1 2025 and Q2 2025, the company posted net losses of $9.3 million and $9.8 million, respectively, with operating cash outflows of $10.1 million and $5.9 million. That makes the Q3 2025 result stand out sharply, but also raises the possibility that it is not representative of the business’s core earning power.

On the balance sheet, the company’s position has weakened materially over the past year. Cash and equivalents fell from $56.5 million in Q1 2024 to $2.8 million in Q3 2025. Over the same period, total equity moved from a positive $10.9 million in Q1 2024 to negative $0.9 million in Q3 2025. That deterioration suggests Carisma may still need outside capital or continued operating support.

Bottom line: Q3 2025 was a very strong quarter on the surface, but Carisma Therapeutics still looks financially risky. Investors should focus on whether the revenue and earnings strength is recurring, and whether the company can rebuild liquidity and restore a healthier balance sheet.

07/18/26 01:27 AM ETAI Generated. May Contain Errors.

Carisma Therapeutics Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Carisma Therapeutics' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

Carisma Therapeutics' net income appears to be on an upward trend, with a most recent value of -$60.48 million in 2024, rising from -$34.16 million in 2014. The previous period was -$86.88 million in 2023. View Carisma Therapeutics' forecast to see where analysts expect Carisma Therapeutics to go next.

Carisma Therapeutics' total operating income in 2024 was -$62.18 million, based on the following breakdown:
  • Total Gross Profit: $19.63 million
  • Total Operating Expenses: $81.81 million

Over the last 10 years, Carisma Therapeutics' total revenue changed from $2.24 million in 2014 to $19.63 million in 2024, a change of 775.3%.

Carisma Therapeutics' total liabilities were at $58.37 million at the end of 2024, a 7.4% decrease from 2023, and a 221.2% increase since 2014.

In the past 10 years, Carisma Therapeutics' cash and equivalents has ranged from $14.68 million in 2017 to $162.64 million in 2021, and is currently $17.91 million as of their latest financial filing in 2024.

Over the last 10 years, Carisma Therapeutics' book value per share changed from 2.26 in 2014 to -0.67 in 2024, a change of -129.6%.


Related Companies

Financial statements for NASDAQ:CARM last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
From Our Partners
Trump's gold order: the announcement they won't put on the front page
On August 15, 1971, Nixon interrupted prime-time television and ended the gold standard in 15 minutes - no deb...
Reagan Gold Group | Sponsoredtc pixel
Central banks bought 710 tonnes - this fund pays monthly
Gold is hitting new highs, fueled by tariffs and record central bank demand - 710 tonnes per quarter. JPMorgan...
Investors Alley | Sponsoredtc pixel
Buy this stock today
Marc Chaikin, founder of Chaikin Analytics, is sharing a strategy he calls 'Sell This, Buy That' - a way to mo...
Chaikin Analytics | Sponsoredtc pixel
The REAL Reason Trump is Invading Iran
For a moment… Forget about Trump’s ties to Israel. Forget about reports of Iran’s nuclear program. Be...
Banyan Hill Publishing | Sponsoredtc pixel
3 AI stocks to buy before August 2026
Alexander Green bought Apple in 1996, recommended Nvidia at a split-adjusted 66 cents in 2004, and picked up A...
The Oxford Club | Sponsoredtc pixel
Elon’s message for America
Elon Musk bought Super Bowl ad time at $266,000 per second - something he has never done before. 125 million A...
Stansberry Research | Sponsoredtc pixel
URGENT Dollar Reset Warning for Monday
A 50-year U.S.-Saudi arrangement established under Henry Kissinger - one credited with anchoring the dollar in...
Golden Portfolio | Sponsoredtc pixel
SPCX Warning - and Worst News for Stocks in 50 Years
Goldman Sachs and Morgan Stanley are now predicting what could be the worst news for the U.S. stock market in ...
TradeSmith | Sponsoredtc pixel