Celldex Therapeutics (CLDX) Financials

$34.39 +0.53 (+1.57%)

Closing price 05/6/2026 04:00 PM Eastern

Extended Trading

$34.35 -0.04 (-0.12%)

As of 05/6/2026 05:18 PM Eastern

Annual Income Statements for Celldex Therapeutics

This table shows Celldex 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	-127	-129	-93	-151	-51	-60	-71	-112	-141	-158	-259
Consolidated Net Income / (Loss)	-127	-129	-93	-151	-51	-60	-71	-112	-141	-158	-259
Net Income / (Loss) Continuing Operations	-127	-129	-93	-151	-51	-60	-71	-112	-141	-158	-259
Total Pre-Tax Income	-127	-129	-117	-152	-51	-61	-71	-112	-141	-158	-259
Total Operating Income	-130	-133	-122	-156	-55	-63	-71	-115	-155	-195	-287
Total Gross Profit	5.48	6.79	13	9.54	3.57	7.42	4.65	2.36	6.88	7.02	1.55
Total Revenue	5.48	6.79	13	9.54	3.57	7.42	4.65	2.36	6.88	7.02	1.55
Operating Revenue	5.48	6.79	13	9.54	3.57	7.42	4.65	2.36	6.88	7.02	1.55
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	135	140	134	166	59	71	76	118	161	202	289
Selling, General & Admin Expense	34	36	25	19	15	14	20	27	31	39	44
Research & Development Expense	100	103	96	66	43	43	53	82	118	164	245
Other Special Charges / (Income)	-	-	-	-	-	0.00	0.00	15	13	0.00	0.00
Total Other Income / (Expense), net	2.34	4.39	4.21	4.49	4.15	2.41	0.51	2.91	13	37	29
Interest & Investment Income	2.34	4.39	4.21	4.49	4.15	2.41	0.51	2.91	13	37	29
Basic Earnings per Share	($1.31)	($18.99)	($10.86)	($14.48)	($3.51)	($2.02)	($1.64)	($2.40)	($2.92)	($2.45)	($3.90)
Weighted Average Basic Shares Outstanding	97.05M	6.77M	8.57M	10.44M	14.51M	29.64M	42.87M	46.89M	48.45M	64.40M	66.42M
Diluted Earnings per Share	($1.31)	($18.99)	($10.86)	($14.48)	($3.51)	($2.02)	($1.64)	($2.40)	($2.92)	($2.45)	($3.90)
Weighted Average Diluted Shares Outstanding	97.05M	6.77M	8.57M	10.44M	14.51M	29.64M	42.87M	46.89M	48.45M	64.40M	66.42M
Weighted Average Basic & Diluted Shares Outstanding	97.05M	6.77M	8.57M	10.44M	14.51M	29.64M	46.74M	47.21M	55.90M	66.38M	66.57M

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

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-31	-38	-43	-33	-36	-42	-47	-54	-57	-67	-81
Consolidated Net Income / (Loss)	-31	-38	-43	-33	-36	-42	-47	-54	-57	-67	-81
Net Income / (Loss) Continuing Operations	-31	-38	-43	-33	-36	-42	-47	-54	-57	-67	-81
Total Pre-Tax Income	0.00	0.00	-141	-33	-36	-42	-158	-54	-57	-67	-81
Total Operating Income	-33	-41	-48	-41	-46	-52	-56	-63	-64	-74	-87
Total Gross Profit	0.27	1.52	4.13	0.16	2.50	3.19	1.18	0.70	0.73	0.00	0.12
Total Revenue	0.27	1.52	4.13	0.16	2.50	3.19	1.18	0.70	0.73	0.00	0.12
Operating Revenue	0.27	1.52	4.13	0.16	2.50	3.19	1.18	0.70	0.73	0.00	0.12
Total Operating Expenses	33	43	52	41	49	55	57	63	65	74	87
Selling, General & Admin Expense	7.22	8.22	8.83	9.10	9.13	10	10	11	10	11	12
Research & Development Expense	26	35	30	32	40	45	47	53	54	63	75
Total Other Income / (Expense), net	2.70	2.98	4.32	7.80	10	10	8.94	8.94	7.26	6.57	5.84
Interest & Investment Income	2.70	2.98	4.32	7.80	10	10	8.94	8.94	7.26	6.57	5.84
Basic Earnings per Share	($0.65)	($0.81)	($0.84)	($0.56)	($0.54)	($0.64)	($0.71)	($0.81)	($0.85)	($1.01)	($1.23)
Weighted Average Basic Shares Outstanding	47.25M	47.26M	48.45M	58.87M	66.02M	66.29M	64.40M	66.38M	66.39M	66.42M	66.42M
Diluted Earnings per Share	($0.65)	($0.81)	($0.84)	($0.56)	($0.54)	($0.64)	($0.71)	($0.81)	($0.85)	($1.01)	($1.23)
Weighted Average Diluted Shares Outstanding	47.25M	47.26M	48.45M	58.87M	66.02M	66.29M	64.40M	66.38M	66.39M	66.42M	66.42M
Weighted Average Basic & Diluted Shares Outstanding	47.26M	47.26M	55.90M	65.91M	66.29M	66.34M	66.38M	66.39M	66.41M	66.45M	66.57M

This table details how cash moves in and out of Celldex 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	44	-30	-2.17	-16	-13	33	-4.69	-9.71	5.39	-6.46	0.52
Net Cash From Operating Activities	-99	-113	-100	-75	-46	-40	-61	-104	-107	-158	-211
Net Cash From Continuing Operating Activities	-99	-113	-100	-75	-46	-40	-61	-104	-107	-158	-211
Net Income / (Loss) Continuing Operations	-127	-129	-93	-151	-51	-60	-71	-112	-141	-158	-259
Consolidated Net Income / (Loss)	-127	-129	-93	-151	-51	-60	-71	-112	-141	-158	-259
Depreciation Expense	3.00	3.10	4.41	3.58	4.86	3.93	3.07	2.90	3.01	3.18	3.38
Amortization Expense	1.65	3.56	1.19	-0.82	-1.14	-0.73	-3.21	0.84	-6.22	-16	-5.86
Non-Cash Adjustments To Reconcile Net Income	13	15	0.98	89	5.07	21	12	16	24	34	36
Changes in Operating Assets and Liabilities, net	11	-6.56	-13	-15	-4.32	-4.52	-2.46	-11	13	-22	14
Net Cash From Investing Activities	-50	69	46	30	17	-98	-216	90	-106	-290	209
Net Cash From Continuing Investing Activities	-50	69	46	30	17	-98	-216	90	-106	-290	209
Purchase of Property, Plant & Equipment	-4.88	-2.75	-1.79	-0.81	-0.73	-1.55	-1.25	-1.83	-1.82	-1.92	-2.71
Purchase of Investments	-206	-176	-171	-171	-95	-220	-390	-189	-425	-790	-385
Sale and/or Maturity of Investments	161	243	219	201	113	124	175	281	321	502	596
Other Investing Activities, net	-	-	-	-	-	-	-0.29	-0.11	-0.08	-0.03	-0.10
Net Cash From Financing Activities	193	14	51	29	16	171	272	4.08	218	441	2.39
Net Cash From Continuing Financing Activities	193	14	51	29	16	171	272	4.08	218	441	2.39
Issuance of Common Equity	193	14	51	29	16	171	272	4.08	218	441	2.39

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

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Change in Cash & Equivalents	-26	-7.09	14	80	-72	-6.34	-8.04	-11	5.91	13	-7.17
Net Cash From Operating Activities	-27	-19	-33	-41	-29	-55	-32	-54	-44	-49	-64
Net Cash From Continuing Operating Activities	-27	-19	-33	-41	-29	-55	-32	-54	-44	-49	-64
Net Income / (Loss) Continuing Operations	-31	-38	-43	-33	-36	-42	-47	-54	-57	-67	-81
Consolidated Net Income / (Loss)	-31	-38	-43	-33	-36	-42	-47	-54	-57	-67	-81
Depreciation Expense	0.76	0.77	0.76	0.78	0.80	0.79	0.82	0.87	0.87	0.82	0.82
Amortization Expense	-1.16	-1.63	-2.18	-3.31	-4.74	-4.33	-3.36	-2.27	-1.69	-1.02	-0.88
Non-Cash Adjustments To Reconcile Net Income	5.22	7.12	7.21	7.21	7.64	9.62	9.78	9.32	9.19	8.81	8.91
Changes in Operating Assets and Liabilities, net	-1.51	13	4.98	-13	2.82	-19	7.38	-8.50	4.22	9.80	8.53
Net Cash From Investing Activities	1.16	12	-171	-315	-47	48	24	43	50	61	55
Net Cash From Continuing Investing Activities	1.25	11	-171	-315	-47	48	24	43	50	60	56
Purchase of Property, Plant & Equipment	-0.41	-0.16	-0.67	-0.34	-0.27	-0.55	-0.76	-0.27	-0.73	-0.44	-1.28
Purchase of Investments	-82	-28	-241	-392	-169	-100	-129	-152	-122	-56	-55
Sale and/or Maturity of Investments	83	40	71	77	122	148	154	195	173	117	112
Other Investing Activities, net	0.09	-0.44	0.41	-0.11	0.09	-0.22	0.21	-	-	-0.42	0.37
Net Cash From Financing Activities	0.13	0.26	217	436	3.71	1.24	0.39	0.20	0.06	0.77	1.35
Net Cash From Continuing Financing Activities	0.13	0.26	217	436	3.71	1.24	0.39	0.20	0.06	0.77	1.35
Issuance of Common Equity	0.13	0.26	217	436	3.71	1.24	0.39	0.20	0.06	0.77	1.35

This table presents Celldex 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	338	383	316	156	123	236	445	353	466	792	583
Total Current Assets	295	196	145	99	67	198	411	318	432	747	535
Cash & Equivalents	72	42	40	24	11	44	39	29	35	28	29
Short-Term Investments	218	147	99	70	53	151	369	276	389	697	490
Accounts Receivable	0.97	1.78	1.88	3.16	1.02	1.80	0.17	0.35	2.63	0.70	2.02
Prepaid Expenses	4.08	4.01	3.45	1.90	1.30	1.62	2.42	12	5.47	21	14
Plant, Property, & Equipment, net	11	13	10	6.11	4.03	3.82	3.55	3.75	4.06	4.35	5.33
Total Noncurrent Assets	31	175	160	51	52	34	30	31	30	41	43
Intangible Assets	21	81	68	49	49	31	27	27	27	27	27
Other Noncurrent Operating Assets	1.43	2.13	1.93	1.93	3.51	3.49	3.07	4.11	2.68	14	16
Total Liabilities & Shareholders' Equity	338	383	316	156	123	236	445	353	466	792	583
Total Liabilities	47	118	79	32	29	26	25	27	36	45	56
Total Current Liabilities	30	35	28	13	12	14	17	19	31	40	51
Accounts Payable	1.51	1.74	1.72	1.07	1.17	1.05	1.23	3.34	3.49	3.27	1.18
Accrued Expenses	24	29	19	7.01	6.50	8.46	12	13	22	34	47
Other Current Liabilities	4.42	4.83	6.57	4.53	3.97	4.70	3.30	2.44	5.60	2.39	2.78
Total Noncurrent Liabilities	17	83	52	19	17	12	8.65	7.92	5.33	5.83	4.83
Other Noncurrent Operating Liabilities	17	83	52	19	17	12	8.65	7.92	5.33	5.83	4.83
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	290	265	236	124	94	209	419	326	429	747	527
Total Preferred & Common Equity	290	265	236	124	94	209	419	326	429	747	527
Preferred Stock	0.00	0.00	0.00	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00
Total Common Equity	290	265	236	124	94	209	419	326	429	747	527
Common Stock	879	982	1,046	1,084	1,105	1,280	1,561	1,581	1,823	2,299	2,338
Retained Earnings	-591	-719	-813	-962	-1,013	-1,073	-1,144	-1,256	-1,397	-1,555	-1,814
Accumulated Other Comprehensive Income / (Loss)	2.31	2.54	2.56	2.58	2.62	2.59	1.89	1.26	3.31	3.31	3.63

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

Metric	Q2 2022	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	6/30/2022	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025
Total Assets	403	369	325	299	280	869	846	823	739	692	648
Total Current Assets	368	335	290	265	246	835	812	779	694	648	604
Cash & Equivalents	28	19	54	28	21	115	43	36	17	23	36
Short-Term Investments	328	305	224	224	214	709	760	720	656	607	547
Accounts Receivable	0.10	0.19	1.31	0.12	0.25	2.67	1.53	0.85	1.06	0.09	0.09
Prepaid Expenses	11	11	9.90	12	10	8.81	8.12	22	19	18	21
Plant, Property, & Equipment, net	3.74	3.75	4.00	3.94	4.16	4.06	3.86	4.23	4.60	4.39	4.83
Total Noncurrent Assets	31	31	31	31	30	29	30	40	41	40	39
Intangible Assets	27	27	27	27	27	27	27	27	27	27	27
Other Noncurrent Operating Assets	4.05	3.68	3.74	3.36	2.97	2.27	2.56	13	14	12	12
Total Liabilities & Shareholders' Equity	403	369	325	299	280	869	846	823	739	692	648
Total Liabilities	38	24	22	22	34	30	32	37	36	37	50
Total Current Liabilities	30	16	15	16	28	26	28	32	32	33	46
Accounts Payable	0.90	2.27	3.37	0.88	3.59	3.23	3.80	1.11	3.41	2.07	4.27
Accrued Expenses	11	11	9.37	12	18	18	19	28	25	28	40
Other Current Liabilities	18	2.59	2.47	2.51	5.78	5.52	5.26	2.78	3.15	2.47	2.48
Total Noncurrent Liabilities	7.92	7.52	6.56	6.13	5.70	3.94	4.27	5.18	4.47	4.04	3.61
Other Noncurrent Operating Liabilities	7.92	7.52	6.56	6.13	5.70	3.94	4.27	5.18	4.47	4.04	3.61
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	365	345	303	278	247	839	814	786	703	655	598
Total Preferred & Common Equity	365	345	303	278	247	839	814	786	703	655	598
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	365	345	303	278	247	839	814	786	703	655	598
Common Stock	1,568	1,575	1,586	1,591	1,599	2,267	2,278	2,289	2,308	2,318	2,327
Retained Earnings	-1,203	-1,229	-1,285	-1,316	-1,354	-1,430	-1,466	-1,508	-1,609	-1,666	-1,733
Accumulated Other Comprehensive Income / (Loss)	-0.42	-0.11	2.12	2.07	2.14	2.24	1.78	5.29	3.57	3.34	3.77

This table displays calculated financial ratios and metrics derived from Celldex 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	52.82%	23.83%	87.78%	-25.15%	-62.54%	107.61%	-37.30%	-49.32%	192.02%	1.99%	-77.99%
EBITDA Growth	-5.07%	-1.10%	8.18%	-32.57%	66.61%	-17.23%	-18.67%	-56.19%	-41.49%	-31.63%	-39.58%
EBIT Growth	-5.81%	-2.61%	8.57%	-28.73%	64.82%	-15.12%	-12.45%	-61.75%	-34.11%	-26.23%	-47.31%
NOPAT Growth	-5.81%	-2.61%	8.57%	-28.73%	64.82%	-15.12%	-12.45%	-61.75%	-34.11%	-26.23%	-47.31%
Net Income Growth	-7.72%	-1.05%	27.62%	-62.51%	66.35%	-17.50%	-17.95%	-59.30%	-25.91%	-11.62%	-63.91%
EPS Growth	0.76%	-1.05%	27.62%	-62.51%	75.76%	42.45%	18.81%	-46.34%	-21.67%	16.10%	-59.18%
Operating Cash Flow Growth	2.61%	-14.31%	11.59%	24.71%	38.31%	12.95%	-50.75%	-70.31%	-3.43%	-47.06%	-33.70%
Free Cash Flow Firm Growth	-0.97%	-109.87%	36.87%	59.94%	10.50%	22.26%	-55.74%	-96.46%	-2.00%	-65.09%	-23.13%
Invested Capital Growth	-97.97%	34,925.46%	28.14%	-69.01%	-1.32%	-49.62%	-24.83%	89.31%	-73.78%	289.81%	-60.45%
Revenue Q/Q Growth	6.06%	1.25%	14.17%	-15.05%	-19.74%	64.15%	-42.61%	118.85%	57.69%	-29.63%	-40.58%
EBITDA Q/Q Growth	-0.94%	-0.43%	6.56%	7.26%	-4.44%	-20.83%	6.51%	-8.12%	-15.62%	-4.81%	-10.97%
EBIT Q/Q Growth	-1.08%	-1.08%	7.13%	7.89%	-1.60%	-22.87%	5.87%	-7.01%	-14.65%	-4.50%	-12.15%
NOPAT Q/Q Growth	-1.08%	-1.08%	7.13%	7.89%	-1.60%	-22.87%	5.87%	-7.01%	-14.65%	-4.50%	-12.15%
Net Income Q/Q Growth	-0.68%	0.29%	23.43%	-3.82%	-2.10%	-23.70%	2.42%	-5.98%	-13.50%	-2.46%	-15.24%
EPS Q/Q Growth	2.24%	0.29%	23.43%	-3.82%	-7.67%	-64.23%	-3.14%	-6.19%	-10.19%	5.04%	-15.38%
Operating Cash Flow Q/Q Growth	7.89%	-6.20%	0.82%	5.16%	8.71%	12.53%	-18.05%	-7.50%	-11.16%	0.04%	-17.53%
Free Cash Flow Firm Q/Q Growth	9.22%	-83.37%	31.99%	32.14%	13.07%	22.03%	-27.45%	-8.35%	-10.40%	-2.34%	-14.23%
Invested Capital Q/Q Growth	-98.46%	446.48%	23.30%	33.41%	4.15%	-50.84%	-17.60%	-3.16%	-50.99%	-27.36%	-43.25%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	-2,279.05%	-1,860.60%	-909.73%	-1,611.27%	-1,436.13%	-810.92%	-1,534.81%	-4,730.34%	-2,291.97%	-2,957.98%	-18,760.00%
Operating Margin	-2,363.89%	-1,958.68%	-953.68%	-1,640.13%	-1,540.19%	-854.06%	-1,531.78%	-4,889.01%	-2,245.27%	-2,778.89%	-18,599.81%
EBIT Margin	-2,363.89%	-1,958.68%	-953.68%	-1,640.13%	-1,540.19%	-854.06%	-1,531.78%	-4,889.01%	-2,245.27%	-2,778.89%	-18,599.81%
Profit (Net Income) Margin	-2,321.11%	-1,894.05%	-730.06%	-1,585.07%	-1,423.96%	-805.88%	-1,516.04%	-4,765.59%	-2,054.76%	-2,248.76%	-16,748.03%
Tax Burden Percent	100.00%	100.00%	79.30%	99.50%	100.00%	98.09%	99.68%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	98.19%	96.70%	96.53%	97.13%	92.45%	96.20%	99.29%	97.48%	91.51%	80.92%	90.04%
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)	-1,674.12%	-245.26%	-98.58%	-172.48%	-129.09%	-198.97%	-381.26%	-496.73%	-806.56%	-1,000.51%	-1,327.07%
ROIC Less NNEP Spread (ROIC-NNEP)	-1,659.24%	-230.46%	-93.74%	-136.77%	-113.49%	-187.04%	-374.41%	-487.85%	-797.43%	-996.80%	-1,317.81%
Return on Net Nonoperating Assets (RNNOA)	1,623.42%	198.99%	61.50%	88.59%	82.43%	159.56%	358.83%	466.60%	769.11%	973.67%	1,286.45%
Return on Equity (ROE)	-50.70%	-46.27%	-37.08%	-83.89%	-46.66%	-39.41%	-22.43%	-30.13%	-37.45%	-26.84%	-40.62%
Cash Return on Invested Capital (CROIC)	-1,482.10%	-444.12%	-123.24%	-67.10%	-127.77%	-132.98%	-352.90%	-558.47%	-689.66%	-1,118.85%	-1,240.43%
Operating Return on Assets (OROA)	-44.24%	-36.87%	-34.77%	-66.37%	-39.49%	-35.32%	-20.94%	-28.90%	-37.77%	-31.01%	-41.79%
Return on Assets (ROA)	-43.44%	-35.66%	-26.62%	-64.14%	-36.51%	-33.32%	-20.72%	-28.17%	-34.56%	-25.10%	-37.63%
Return on Common Equity (ROCE)	-50.70%	-46.27%	-37.08%	-83.89%	-46.66%	-39.41%	-22.43%	-30.13%	-37.45%	-26.84%	-40.62%
Return on Equity Simple (ROE_SIMPLE)	-43.85%	-48.42%	-39.36%	-121.86%	-54.11%	-28.55%	-16.81%	-34.43%	-32.95%	-21.13%	0.00%
Net Operating Profit after Tax (NOPAT)	-91	-93	-85	-110	-39	-44	-50	-81	-108	-137	-201
NOPAT Margin	-1,654.72%	-1,371.08%	-667.57%	-1,148.09%	-1,078.13%	-597.84%	-1,072.24%	-3,422.31%	-1,571.69%	-1,945.22%	-13,019.86%
Net Nonoperating Expense Percent (NNEP)	-14.88%	-14.80%	-4.84%	-35.71%	-15.60%	-11.93%	-6.85%	-8.88%	-9.13%	-3.71%	-9.26%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-24.73%	-25.21%	-18.28%	-38.16%
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	617.46%	530.19%	196.21%	202.02%	431.74%	194.88%	440.51%	1,153.80%	449.14%	549.12%	2,837.41%
R&D to Revenue	1,827.94%	1,513.79%	754.70%	696.68%	1,194.29%	573.39%	1,146.23%	3,489.94%	1,714.53%	2,329.77%	15,862.39%
Operating Expenses to Revenue	2,463.89%	2,058.68%	1,053.68%	1,740.13%	1,640.19%	954.06%	1,631.78%	4,989.01%	2,345.27%	2,878.89%	18,699.81%
Earnings before Interest and Taxes (EBIT)	-130	-133	-122	-156	-55	-63	-71	-115	-155	-195	-287
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-125	-126	-116	-154	-51	-60	-71	-111	-158	-208	-290
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.33	1.35	1.63	0.28	0.38	3.31	4.30	6.44	4.37	2.24	3.42
Price to Tangible Book Value (P/TBV)	5.94	3.86	4.96	0.45	0.79	3.88	4.60	7.02	4.66	2.33	3.61
Price to Revenue (P/Rev)	282.26	52.82	30.31	3.58	10.07	93.45	387.68	890.64	272.34	238.82	1,168.13
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)	5,818.87	2.23	2.55	0.00	0.00	33.40	124.25	84.43	260.34	43.79	149.70
Enterprise Value to Revenue (EV/Rev)	229.36	24.85	19.37	0.00	0.00	67.24	299.90	761.26	210.79	135.50	832.49
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	0.00	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	0.00
Financial Leverage	-0.98	-0.86	-0.66	-0.65	-0.73	-0.85	-0.96	-0.96	-0.96	-0.98	-0.98
Leverage Ratio	1.17	1.30	1.39	1.31	1.28	1.18	1.08	1.07	1.08	1.07	1.08
Compound Leverage Factor	1.15	1.25	1.34	1.27	1.18	1.14	1.07	1.04	0.99	0.87	0.97
Debt 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%
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%	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%	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%	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%	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	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	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	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	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	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	0.00
Altman Z-Score	16.79	-1.43	-1.47	-10.59	-11.70	9.42	39.91	42.44	26.60	19.71	14.42
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	9.75	5.55	5.22	7.86	5.73	13.93	24.86	17.07	13.87	18.91	10.49
Quick Ratio	9.62	5.44	5.09	7.71	5.62	13.81	24.71	16.41	13.69	18.38	10.21
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-80	-168	-106	-43	-38	-30	-46	-91	-93	-153	-188
Operating Cash Flow to CapEx	-2,028.04%	-4,108.91%	-5,588.98%	-15,973.46%	-6,528.13%	-2,699.00%	-4,984.37%	-5,897.21%	-5,901.60%	-8,221.89%	-7,772.48%
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	0.02	0.02	0.04	0.04	0.03	0.04	0.01	0.01	0.02	0.01	0.00
Accounts Receivable Turnover	7.85	4.93	6.96	3.78	1.71	5.27	4.71	9.08	4.63	4.22	1.14
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.50	0.55	1.08	1.16	0.70	1.89	1.26	0.65	1.76	1.67	0.32
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)	46.52	74.07	52.47	96.47	213.35	69.30	77.46	40.19	78.88	86.52	320.70
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)	46.52	74.07	52.47	96.47	213.35	69.30	77.46	40.19	78.88	86.52	320.70
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.22	76	97	30	30	15	11	21	5.57	22	8.59
Invested Capital Turnover	1.01	0.18	0.15	0.15	0.12	0.33	0.36	0.15	0.51	0.51	0.10
Increase / (Decrease) in Invested Capital	-10	75	21	-67	-0.40	-15	-3.71	10	-16	16	-13
Enterprise Value (EV)	1,257	169	247	-60	-28	499	1,395	1,794	1,451	951	1,286
Market Capitalization	1,547	358	386	34	36	693	1,803	2,099	1,874	1,677	1,805
Book Value per Share	$2.94	$2.62	$1.74	$0.72	$5.83	$5.29	$8.99	$6.93	$9.08	$11.26	$7.93
Tangible Book Value per Share	$2.64	$0.92	$0.57	$0.44	$2.81	$4.52	$8.41	$6.35	$8.51	$10.85	$7.52
Total Capital	290	265	236	124	94	209	419	326	429	747	527
Total Debt	0.00	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	0.00
Net Debt	-290	-190	-139	-94	-64	-194	-408	-305	-424	-725	-519
Capital Expenditures (CapEx)	4.88	2.75	1.79	0.47	0.71	1.50	1.22	1.76	1.82	1.92	2.71
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-25	-29	-22	-7.55	-9.33	-11	-14	-5.87	-23	-18	-35
Debt-free Net Working Capital (DFNWC)	265	160	117	86	55	184	394	299	401	708	484
Net Working Capital (NWC)	265	160	117	86	55	184	394	299	401	708	484
Net Nonoperating Expense (NNE)	37	35	7.96	42	12	15	21	32	33	21	58
Net Nonoperating Obligations (NNO)	-290	-190	-139	-94	-64	-194	-408	-305	-424	-725	-519
Total Depreciation and Amortization (D&A)	4.65	6.66	5.60	2.75	3.72	3.20	-0.14	3.74	-3.21	-13	-2.48
Debt-free, Cash-free Net Working Capital to Revenue	-459.73%	-433.69%	-175.84%	-79.10%	-261.07%	-145.39%	-299.70%	-249.00%	-334.59%	-251.04%	-2,258.90%
Debt-free Net Working Capital to Revenue	4,830.22%	2,362.89%	918.31%	906.66%	1,540.86%	2,475.56%	8,477.98%	12,689.14%	5,819.67%	10,080.60%	31,305.70%
Net Working Capital to Revenue	4,830.22%	2,362.89%	918.31%	906.66%	1,540.86%	2,475.56%	8,477.98%	12,689.14%	5,819.67%	10,080.60%	31,305.70%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($19.65)	($19.05)	($10.80)	($14.48)	($3.51)	($2.02)	($1.64)	($2.40)	($2.92)	($2.45)	($3.90)
Adjusted Weighted Average Basic Shares Outstanding	6.58M	8.21M	9.40M	12.44M	17.57M	39.61M	42.87M	46.89M	48.45M	64.40M	66.42M
Adjusted Diluted Earnings per Share	($19.65)	($19.05)	($10.80)	($14.48)	($3.51)	($2.02)	($1.64)	($2.40)	($2.92)	($2.45)	($3.90)
Adjusted Weighted Average Diluted Shares Outstanding	6.58M	8.21M	9.40M	12.44M	17.57M	39.61M	42.87M	46.89M	48.45M	64.40M	66.42M
Adjusted Basic & Diluted Earnings per Share	($19.65)	($19.05)	($10.80)	($14.48)	($3.51)	($2.02)	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	6.47M	6.77M	8.57M	10.44M	14.51M	29.64M	46.74M	47.21M	55.90M	66.38M	66.57M
Normalized Net Operating Profit after Tax (NOPAT)	-91	-93	-76	-33	-37	-32	-47	-70	-99	-137	-201
Normalized NOPAT Margin	-1,654.72%	-1,371.08%	-596.16%	-343.34%	-1,042.87%	-427.98%	-1,019.57%	-2,976.83%	-1,444.56%	-1,945.22%	-13,019.86%
Pre Tax Income Margin	-2,321.11%	-1,894.05%	-920.61%	-1,593.09%	-1,423.96%	-821.61%	-1,520.92%	-4,765.59%	-2,054.76%	-2,248.76%	-16,748.03%
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%

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

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	64.42%	272.73%	156.11%	-83.87%	832.09%	110.35%	-71.56%	345.51%	-70.78%	-100.00%	-89.79%
EBITDA Growth	4.30%	-56.11%	-76.85%	-30.74%	-49.54%	-32.24%	-19.42%	-48.66%	-28.67%	-32.58%	-48.91%
EBIT Growth	8.77%	-48.90%	-70.80%	-25.06%	-39.49%	-26.40%	-17.64%	-54.50%	-37.87%	-41.23%	-55.56%
NOPAT Growth	8.77%	-48.90%	-70.80%	-25.06%	-39.49%	-26.40%	-17.64%	-54.50%	-37.87%	-41.23%	-55.56%
Net Income Growth	15.28%	-42.85%	-63.50%	-11.74%	-17.51%	-10.09%	-8.74%	-63.97%	-57.92%	-59.17%	-72.68%
EPS Growth	15.58%	-42.11%	-47.37%	9.68%	16.92%	20.99%	15.48%	-44.64%	-57.41%	-57.81%	-73.24%
Operating Cash Flow Growth	-22.26%	46.03%	-49.49%	-42.25%	-7.84%	-191.35%	0.18%	-33.80%	-50.05%	12.12%	-96.88%
Free Cash Flow Firm Growth	-156.69%	33.98%	40.23%	36.03%	52.46%	-200.81%	-213.53%	-212.32%	-208.75%	33.18%	13.53%
Invested Capital Growth	200.15%	-48.19%	-73.78%	-39.36%	-54.34%	163.03%	289.81%	101.06%	121.03%	-49.37%	-60.45%
Revenue Q/Q Growth	-72.29%	466.04%	172.31%	-96.22%	1,501.28%	27.74%	-63.18%	-40.85%	5.04%	-100.00%	0.00%
EBITDA Q/Q Growth	-1.84%	-25.26%	-16.50%	12.03%	-16.49%	-10.77%	-5.21%	-9.51%	-0.83%	-14.13%	-18.17%
EBIT Q/Q Growth	-2.26%	-24.20%	-15.49%	14.74%	-14.06%	-12.54%	-7.48%	-11.98%	-1.78%	-15.28%	-18.39%
NOPAT Q/Q Growth	-2.26%	-24.20%	-15.49%	14.74%	-14.06%	-12.54%	-7.48%	-11.98%	-1.78%	-15.28%	-18.39%
Net Income Q/Q Growth	-3.89%	-25.43%	-13.19%	24.24%	-9.25%	-17.52%	-11.80%	-14.24%	-5.21%	-18.45%	-21.29%
EPS Q/Q Growth	-4.84%	-24.62%	-3.70%	33.33%	3.57%	-18.52%	-10.94%	-14.08%	-4.94%	-18.82%	-21.78%
Operating Cash Flow Q/Q Growth	4.81%	30.16%	-71.29%	-24.91%	27.83%	-88.69%	41.31%	-67.42%	19.07%	-10.51%	-31.49%
Free Cash Flow Firm Q/Q Growth	-35.17%	54.05%	3.46%	-6.68%	-0.45%	-190.77%	-0.63%	-6.27%	0.70%	37.07%	-30.22%
Invested Capital Q/Q Growth	2.00%	-54.23%	-50.99%	164.97%	-23.19%	163.67%	-27.36%	36.67%	-15.56%	-39.61%	-43.25%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	0.00%	100.00%
EBITDA Margin	-12,540.67%	-2,775.15%	-1,187.29%	-27,657.69%	-2,012.01%	-1,744.69%	-4,984.77%	-9,228.63%	-8,859.18%	0.00%	-72,683.33%
Operating Margin	-12,389.93%	-2,718.46%	-1,152.92%	-26,030.77%	-1,854.16%	-1,633.53%	-4,768.26%	-9,027.19%	-8,747.53%	0.00%	-72,628.33%
EBIT Margin	-12,389.93%	-2,718.46%	-1,152.92%	-26,030.77%	-1,854.16%	-1,633.53%	-4,768.26%	-9,027.19%	-8,747.53%	0.00%	-72,628.33%
Profit (Net Income) Margin	-11,381.34%	-2,522.08%	-1,048.32%	-21,030.77%	-1,434.83%	-1,319.99%	-4,007.83%	-7,740.43%	-7,753.42%	0.00%	-67,764.17%
Tax Burden Percent	0.00%	0.00%	30.62%	100.00%	0.00%	0.00%	29.83%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	0.00%	0.00%	296.95%	80.79%	0.00%	0.00%	281.76%	85.75%	88.64%	91.07%	93.30%
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)	-1,704.94%	-498.65%	-414.16%	-5,656.50%	-595.62%	-552.73%	-1,716.76%	-2,148.84%	-1,947.76%	0.00%	-5,181.92%
ROIC Less NNEP Spread (ROIC-NNEP)	-1,702.56%	-495.29%	-411.42%	-5,655.71%	-594.97%	-551.60%	-1,715.39%	-2,147.53%	-1,946.10%	0.00%	-5,178.65%
Return on Net Nonoperating Assets (RNNOA)	1,614.82%	467.42%	396.81%	5,461.86%	575.24%	529.55%	1,675.58%	2,085.59%	1,897.86%	0.00%	5,055.44%
Return on Equity (ROE)	-90.12%	-31.23%	-17.35%	-194.65%	-20.38%	-23.18%	-41.18%	-63.25%	-49.90%	0.00%	-126.48%
Cash Return on Invested Capital (CROIC)	-612.66%	-502.99%	-689.66%	-533.18%	-605.58%	-722.99%	-1,118.85%	-751.15%	-978.01%	-730.82%	-1,240.43%
Operating Return on Assets (OROA)	-114.85%	-36.54%	-19.39%	-264.90%	-26.89%	-29.54%	-53.22%	-84.85%	-65.87%	0.00%	-163.18%
Return on Assets (ROA)	-105.50%	-33.90%	-17.63%	-214.01%	-20.81%	-23.87%	-44.73%	-72.76%	-58.39%	0.00%	-152.25%
Return on Common Equity (ROCE)	-90.12%	-31.23%	-17.35%	-194.65%	-20.38%	-23.18%	-41.18%	-63.25%	-49.90%	0.00%	-126.48%
Return on Equity Simple (ROE_SIMPLE)	-40.76%	-50.51%	0.00%	-17.28%	-18.46%	-19.61%	0.00%	-25.44%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-23	-29	-33	-28	-32	-36	-39	-44	-45	-52	-61
NOPAT Margin	-8,672.95%	-1,902.92%	-807.04%	-18,221.54%	-1,297.91%	-1,143.47%	-3,337.78%	-6,319.04%	-6,123.27%	0.00%	-50,839.83%
Net Nonoperating Expense Percent (NNEP)	-2.38%	-3.36%	-2.74%	-0.80%	-0.65%	-1.14%	-1.37%	-1.32%	-1.66%	-2.32%	-3.27%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-7.77%	-3.39%	-	-	-5.25%	-6.25%	-6.82%	-8.61%	-11.57%
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	2,694.40%	541.92%	213.80%	5,835.26%	365.41%	315.07%	873.45%	1,556.83%	1,423.42%	0.00%	9,950.83%
R&D to Revenue	9,795.52%	2,276.53%	736.53%	20,295.51%	1,588.75%	1,418.46%	3,994.81%	7,570.36%	7,424.11%	0.00%	62,777.50%
Operating Expenses to Revenue	12,489.93%	2,818.46%	1,252.92%	26,130.77%	1,954.16%	1,733.53%	4,868.26%	9,127.19%	8,847.53%	0.00%	72,728.33%
Earnings before Interest and Taxes (EBIT)	-33	-41	-48	-41	-46	-52	-56	-63	-64	-74	-87
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-34	-42	-49	-43	-50	-56	-59	-64	-65	-74	-87
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.78	5.27	4.37	2.37	3.00	2.87	2.24	1.71	2.06	2.87	3.42
Price to Tangible Book Value (P/TBV)	6.40	5.92	4.66	2.44	3.10	2.97	2.33	1.78	2.15	3.01	3.61
Price to Revenue (P/Rev)	492.56	297.97	272.34	326.69	293.83	225.85	238.82	159.39	233.31	660.75	1,168.13
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)	54.37	93.69	260.34	78.54	144.33	50.06	43.79	17.90	28.75	74.95	149.70
Enterprise Value to Revenue (EV/Rev)	414.92	244.05	210.79	191.01	197.19	150.07	135.50	70.32	124.47	436.43	832.49
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	0.00	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	0.00
Financial Leverage	-0.95	-0.94	-0.96	-0.97	-0.97	-0.96	-0.98	-0.97	-0.98	-0.97	-0.98
Leverage Ratio	1.09	1.10	1.08	1.05	1.05	1.07	1.07	1.04	1.05	1.06	1.08
Compound Leverage Factor	0.00	0.00	3.22	0.84	0.00	0.00	3.01	0.89	0.93	0.97	1.01
Debt 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%
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%	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%	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%	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%	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	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	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	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	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	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	0.00
Altman Z-Score	38.67	16.97	27.36	38.03	44.36	34.60	20.29	17.57	19.31	17.50	15.55
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	16.93	8.84	13.87	31.77	29.36	24.27	18.91	21.67	19.67	13.01	10.49
Quick Ratio	16.16	8.46	13.69	31.44	29.06	23.58	18.38	21.06	19.13	12.55	10.21
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-40	-18	-18	-19	-19	-55	-55	-59	-58	-37	-48
Operating Cash Flow to CapEx	-6,633.17%	-12,097.45%	-4,884.83%	-11,813.37%	-10,703.28%	-10,153.58%	-4,295.77%	-20,517.74%	-6,044.64%	-11,051.82%	-4,991.41%
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	0.01	0.01	0.02	0.01	0.01	0.02	0.01	0.01	0.01	0.00	0.00
Accounts Receivable Turnover	30.28	19.80	4.63	3.05	10.05	18.07	4.22	4.05	7.13	5.52	1.14
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.85	1.10	1.76	1.51	2.13	2.38	1.67	1.75	1.40	0.57	0.32
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)	12.05	18.44	78.88	119.77	36.32	20.20	86.52	90.18	51.18	66.12	320.70
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)	12.05	18.44	78.88	119.77	36.32	20.20	86.52	90.18	51.18	66.12	320.70
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	25	11	5.57	15	11	30	22	30	25	15	8.59
Invested Capital Turnover	0.20	0.26	0.51	0.31	0.46	0.48	0.51	0.34	0.32	0.12	0.10
Increase / (Decrease) in Invested Capital	17	-11	-16	-9.59	-13	19	16	15	14	-15	-13
Enterprise Value (EV)	1,351	1,065	1,451	1,160	1,637	1,497	951	532	721	1,135	1,286
Market Capitalization	1,603	1,301	1,874	1,984	2,439	2,253	1,677	1,205	1,351	1,718	1,805
Book Value per Share	$5.87	$5.22	$9.08	$14.24	$12.34	$11.86	$11.26	$10.59	$9.87	$9.01	$7.93
Tangible Book Value per Share	$5.30	$4.65	$8.51	$13.78	$11.93	$11.45	$10.85	$10.18	$9.46	$8.60	$7.52
Total Capital	278	247	429	839	814	786	747	703	655	598	527
Total Debt	0.00	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	0.00
Net Debt	-253	-235	-424	-824	-802	-756	-725	-673	-630	-583	-519
Capital Expenditures (CapEx)	0.41	0.16	0.67	0.34	0.27	0.55	0.76	0.27	0.73	0.44	1.28
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-3.52	-17	-23	-15	-18	-9.25	-18	-12	-15	-25	-35
Debt-free Net Working Capital (DFNWC)	249	218	401	809	784	747	708	662	615	558	484
Net Working Capital (NWC)	249	218	401	809	784	747	708	662	615	558	484
Net Nonoperating Expense (NNE)	7.26	9.39	9.97	4.38	3.42	5.63	7.87	9.88	12	16	20
Net Nonoperating Obligations (NNO)	-253	-235	-424	-824	-802	-756	-725	-673	-630	-583	-519
Total Depreciation and Amortization (D&A)	-0.40	-0.86	-1.42	-2.54	-3.94	-3.55	-2.54	-1.40	-0.82	-0.19	-0.07
Debt-free, Cash-free Net Working Capital to Revenue	-108.23%	-395.21%	-334.59%	-243.96%	-216.82%	-92.72%	-251.04%	-152.82%	-257.23%	-974.96%	-2,258.90%
Debt-free Net Working Capital to Revenue	7,655.12%	4,996.49%	5,819.67%	13,324.00%	9,447.33%	7,485.46%	10,080.60%	8,754.32%	10,627.54%	21,456.69%	31,305.70%
Net Working Capital to Revenue	7,655.12%	4,996.49%	5,819.67%	13,324.00%	9,447.33%	7,485.46%	10,080.60%	8,754.32%	10,627.54%	21,456.69%	31,305.70%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.65)	($0.81)	($0.84)	($0.56)	($0.54)	($0.64)	($0.71)	($0.81)	($0.85)	($1.01)	($1.23)
Adjusted Weighted Average Basic Shares Outstanding	47.25M	47.26M	48.45M	58.87M	66.02M	66.29M	64.40M	66.38M	66.39M	66.42M	66.42M
Adjusted Diluted Earnings per Share	($0.65)	($0.81)	($0.84)	($0.56)	($0.54)	($0.64)	($0.71)	($0.81)	($0.85)	($1.01)	($1.23)
Adjusted Weighted Average Diluted Shares Outstanding	47.25M	47.26M	48.45M	58.87M	66.02M	66.29M	64.40M	66.38M	66.39M	66.42M	66.42M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	47.26M	47.26M	55.90M	65.91M	66.29M	66.34M	66.38M	66.39M	66.41M	66.45M	66.57M
Normalized Net Operating Profit after Tax (NOPAT)	-23	-29	-33	-28	-32	-36	-39	-44	-45	-52	-61
Normalized NOPAT Margin	-8,672.95%	-1,902.92%	-807.04%	-18,221.54%	-1,297.91%	-1,143.47%	-3,337.78%	-6,319.04%	-6,123.27%	0.00%	-50,839.83%
Pre Tax Income Margin	0.00%	0.00%	-3,423.60%	-21,030.77%	0.00%	0.00%	-13,435.15%	-7,740.43%	-7,753.42%	0.00%	-67,764.17%
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%

Financials Breakdown Chart

Key Financial Trends

Here are the notable trends for Celldex Therapeutics (CLDX) based on the last four years of quarterly statements. The focus is on what may be relevant to retail investors evaluating liquidity, profitability, and capital structure.

One-off liquidity boost from sale/maturity of investments: $116.9 million in Q3 2025 and $111.5 million in Q4 2025.
Consistent investing-cash inflows across multiple quarters, reflecting asset-sale proceeds: approximately +$42.95M (Q1 2025), +$49.85M (Q2 2025), +$60.42M (Q3 2025), and +$55.43M (Q4 2025) from continuing investing activities.
Modest equity financing activity in several quarters, providing additional liquidity (example issuances around hundreds of thousands to under a million in multiple periods).
Solid balance-sheet cushion as of recent quarter: Total assets about $648.4M and Total equity about $598.4M, with Total liabilities around $50M, indicating a relatively conservative liability profile.
Revenue remains very small and volatile, with Q4 2025 operating revenue of $120k and little-to-no sustained top-line growth over the period.
R&D continues to be the largest expense area in many quarters (e.g., Q4 2025: $75.3M; Q3 2025: $62.9M), suggesting ongoing investment in clinical pipelines but limited near-term profitability.
Weighted-average shares and earnings per share show ongoing dilution and negative earnings (e.g., Weighted-average shares around mid-66 million; EPS negative in recent quarters).
Net income/(loss) remains negative across quarters, with Q4 2025 net loss around $81.3M and sizable deficits continuing through 2023–2025 data.
Operating cash flow is negative in every recent quarter, reflecting ongoing cash burn (e.g., Q4 2025 net cash from continuing operating activities about -$63.9M).
Long-term sustainability concerns: Retained earnings are deeply negative across balance sheets, and equity issuance appears necessary to fund operations, indicating persistent dilution and ongoing deficits.

05/07/26 03:50 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Celldex Therapeutics' Financials

When does Celldex Therapeutics' fiscal year end?

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

How has Celldex Therapeutics' net income changed over the last 10 years?

Celldex Therapeutics' net income appears to be on an upward trend, with a most recent value of -$258.76 million in 2025, rising from -$127.20 million in 2015. The previous period was -$157.86 million in 2024. View Celldex Therapeutics' forecast to see where analysts expect Celldex Therapeutics to go next.

What is Celldex Therapeutics' operating income?

Celldex Therapeutics' total operating income in 2025 was -$287.37 million, based on the following breakdown:

Total Gross Profit: $1.55 million
Total Operating Expenses: $288.91 million

How has Celldex Therapeutics' revenue changed over the last 10 years?

Over the last 10 years, Celldex Therapeutics' total revenue changed from $5.48 million in 2015 to $1.55 million in 2025, a change of -71.8%.

How much debt does Celldex Therapeutics have?

Celldex Therapeutics' total liabilities were at $55.82 million at the end of 2025, a 23.1% increase from 2024, and a 17.6% increase since 2015.

How much cash does Celldex Therapeutics have?

In the past 10 years, Celldex Therapeutics' cash and equivalents has ranged from $11.23 million in 2019 to $72.11 million in 2015, and is currently $28.87 million as of their latest financial filing in 2025.

How has Celldex Therapeutics' book value per share changed over the last 10 years?

Over the last 10 years, Celldex Therapeutics' book value per share changed from 2.94 in 2015 to 7.93 in 2025, a change of 169.8%.

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Financial statements for NASDAQ:CLDX last updated on 2/26/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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