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Coya Therapeutics (COYA) Financials

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$4.55 +0.11 (+2.48%)
Closing price 04:00 PM Eastern
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$4.54 0.00 (-0.11%)
As of 04:15 PM Eastern
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Annual Income Statements for Coya Therapeutics

Annual Income Statements for Coya Therapeutics

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

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -12 -7.99 -15 -21
Consolidated Net Income / (Loss)		 -12 -7.99 -15 -21
Net Income / (Loss) Continuing Operations		 -12 -7.99 -15 -21
Total Pre-Tax Income 		-12 -7.26 -16 -21
Total Operating Income		 -9.81 -7.90 -17 -23
Total Gross Profit		 0.00 6.00 3.55 7.95
Total Revenue		 0.00 6.00 3.55 7.95
Operating Revenue		 0.00 6.00 3.55 7.95
Total Cost of Revenue		 0.00 0.00 0.00 0.00
Total Operating Expenses		 9.81 14 21 31
Selling, General & Admin Expense		 4.85 7.83 8.89 11
Research & Development Expense		 4.94 6.04 12 19
Depreciation Expense		 0.03 0.03 0.03 0.03
Total Other Income / (Expense), net		 -2.43 0.64 1.65 1.33
Other Income / (Expense), net		 -2.43 0.64 1.65 1.33
Income Tax Expense		 0.00 0.72 -0.72 0.00
Basic Earnings per Share		 ($4.73) ($0.79) ($0.98) ($1.27)
Weighted Average Basic Shares Outstanding		 2.59M 10.16M 15.24M 16.73M
Diluted Earnings per Share		 ($4.73) ($0.79) ($0.98) ($1.27)
Weighted Average Diluted Shares Outstanding		 2.59M 10.16M 15.24M 16.73M
Weighted Average Basic & Diluted Shares Outstanding		 - 14.54M 16.72M 23.46M

Quarterly Income Statements for Coya Therapeutics

This table shows Coya 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 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -3.42 1.27 -5.05 -2.89 -4.02 -2.92 -7.31 -6.09 -2.12 -5.71 -7.21
Consolidated Net Income / (Loss)		 -3.42 1.27 -5.05 -2.89 -4.02 -2.92 -7.31 -6.09 -2.12 -5.71 -7.21
Net Income / (Loss) Continuing Operations		 -3.42 1.27 -5.05 -2.89 -4.02 -2.92 -7.31 -6.09 -2.12 -5.71 -7.21
Total Pre-Tax Income 		-3.56 2.29 -5.05 -2.89 0.00 -2.86 -7.31 -6.09 0.00 -7.82 -7.21
Total Operating Income		 -3.56 1.82 -5.48 -3.24 -4.45 -4.08 -7.68 -6.41 -2.43 -6.03 -7.64
Total Gross Profit		 0.00 6.00 0.13 3.43 0.00 0.00 0.26 0.16 3.56 3.96 0.25
Total Revenue		 0.00 6.00 0.13 3.43 0.00 0.00 0.26 0.16 3.56 3.96 0.25
Operating Revenue		 0.00 6.00 0.13 3.43 0.00 - 0.26 0.16 3.56 3.96 0.25
Total Cost of Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Operating Expenses		 3.56 4.19 5.61 6.66 4.45 4.08 7.93 6.58 6.00 9.99 7.89
Selling, General & Admin Expense		 1.96 2.38 2.44 2.09 2.22 2.14 2.71 2.91 2.56 3.27 3.78
Research & Development Expense		 1.59 1.80 3.16 4.57 2.22 1.94 5.21 3.66 3.43 6.71 4.11
Depreciation Expense		 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.00
Total Other Income / (Expense), net		 0.00 0.48 0.43 0.34 0.43 1.22 0.37 0.32 0.32 0.33 0.43
Other Income / (Expense), net		 0.00 0.48 0.43 0.34 0.43 1.22 0.37 0.32 0.32 0.33 0.43
Income Tax Expense		 - - 0.00 0.00 0.00 - 0.00 0.00 0.00 0.00 0.00
Basic Earnings per Share		 ($0.34) $0.14 ($0.35) ($0.19) ($0.26) ($0.18) ($0.44) ($0.36) ($0.13) ($0.34) ($0.32)
Weighted Average Basic Shares Outstanding		 9.95M 10.16M 14.46M 14.92M 15.22M 15.24M 16.72M 16.72M 16.73M 16.73M 22.64M
Diluted Earnings per Share		 ($0.34) $0.14 ($0.35) ($0.19) ($0.26) ($0.18) ($0.44) ($0.36) ($0.13) ($0.34) ($0.32)
Weighted Average Diluted Shares Outstanding		 9.95M 10.16M 14.46M 14.92M 15.22M 15.24M 16.72M 16.72M 16.73M 16.73M 22.64M
Weighted Average Basic & Diluted Shares Outstanding		 10.03M 14.54M 14.62M 15.22M 16.71M 16.72M 16.72M 16.73M 20.92M 23.46M 23.46M

Annual Cash Flow Statements for Coya Therapeutics

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

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 1.59 27 5.71 8.48
Net Cash From Operating Activities		 -7.24 -11 -10 -11
Net Cash From Continuing Operating Activities		 -7.24 -11 -10 -11
Net Income / (Loss) Continuing Operations		 -12 -7.99 -15 -21
Consolidated Net Income / (Loss)		 -12 -7.99 -15 -21
Depreciation Expense		 0.03 0.03 0.03 0.03
Amortization Expense		 1.00 0.00 0.00 0.00
Non-Cash Adjustments To Reconcile Net Income		 3.23 -6.08 10 6.58
Changes in Operating Assets and Liabilities, net		 0.75 2.86 -5.62 3.88
Net Cash From Investing Activities		 -0.53 -0.54 -0.03 -1.16
Net Cash From Continuing Investing Activities		 -0.53 -0.54 -0.03 -1.16
Acquisitions		 -0.53 -0.54 -0.03 -1.16
Net Cash From Financing Activities		 9.36 38 16 20
Net Cash From Continuing Financing Activities		 9.36 38 16 20
Issuance of Common Equity		 0.00 38 14 20
Other Financing Activities, net		 -0.11 0.09 2.02 0.04

Quarterly Cash Flow Statements for Coya Therapeutics

This table details how cash moves in and out of Coya 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 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -2.22 22 3.36 0.59 -5.52 7.28 -2.81 -5.77 -1.63 19 3.90
Net Cash From Operating Activities		 -2.22 -2.24 2.15 -4.56 -5.46 -2.41 -2.83 -5.77 -1.13 -1.01 -6.21
Net Cash From Continuing Operating Activities		 -2.22 -2.24 2.15 -4.56 -5.46 -2.41 -2.83 -5.77 -1.13 -1.01 -6.21
Net Income / (Loss) Continuing Operations		 -3.42 1.27 -5.05 -2.89 -4.02 -2.92 -7.31 -6.09 -2.12 -5.71 -7.21
Consolidated Net Income / (Loss)		 -3.42 1.27 -5.05 -2.89 -4.02 -2.92 -7.31 -6.09 -2.12 -5.71 -7.21
Depreciation Expense		 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.00
Non-Cash Adjustments To Reconcile Net Income		 0.26 -7.07 7.96 0.66 0.78 0.79 1.08 1.04 1.59 2.88 2.21
Changes in Operating Assets and Liabilities, net		 0.94 3.55 -0.77 -2.34 -2.22 -0.29 3.39 -0.72 -0.61 1.82 -1.21
Net Cash From Investing Activities		 - -0.19 -0.03 - - - 0.00 - -0.52 -0.65 -0.89
Net Cash From Continuing Investing Activities		 - -0.19 -0.03 - - - 0.00 - -0.52 -0.65 -0.89
Acquisitions		 - -0.19 -0.03 - - - 0.00 - -0.52 -0.65 -0.89
Net Cash From Financing Activities		 - 24 1.24 5.15 -0.06 9.69 0.02 - 0.02 20 11
Net Cash From Continuing Financing Activities		 - 24 1.24 5.15 -0.06 9.69 0.02 - 0.02 20 11
Issuance of Common Equity		 - 24 0.00 5.00 -0.06 9.06 0.00 - - 20 11
Other Financing Activities, net		 - 0.09 1.24 0.15 - 0.63 0.02 - 0.02 - 0.00

Annual Balance Sheets for Coya Therapeutics

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

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 8.40 41 44 50
Total Current Assets		 7.18 41 44 50
Cash & Equivalents		 5.93 33 38 47
Prepaid Expenses		 1.25 1.07 5.97 3.12
Other Current Assets		 0.00 7.50 - 0.00
Plant, Property, & Equipment, net		 0.09 0.07 0.04 0.01
Total Noncurrent Assets		 1.12 0.00 0.00 0.00
Other Noncurrent Nonoperating Assets		 1.12 - - 0.00
Total Liabilities & Shareholders' Equity		 8.40 41 44 50
Total Liabilities		 17 5.63 4.77 6.92
Total Current Liabilities		 3.82 5.05 3.82 5.87
Accounts Payable		 1.82 1.16 1.59 1.06
Accrued Expenses		 2.01 2.97 1.39 3.61
Current Deferred Revenue		 0.00 0.92 0.85 1.20
Total Noncurrent Liabilities		 13 0.57 0.95 1.05
Long-Term Debt		 13 - - 0.00
Noncurrent Deferred Revenue		 0.00 0.57 0.95 1.05
Commitments & Contingencies		 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -8.39 36 40 43
Total Preferred & Common Equity		 -8.39 36 40 43
Preferred Stock		 8.79 0.00 0.00 0.00
Total Common Equity		 -17 36 40 43
Common Stock		 0.68 62 80 105
Retained Earnings		 -18 -26 -41 -62
Other Equity Adjustments		 0.00 -0.01 - 0.00

Quarterly Balance Sheets for Coya Therapeutics

This table presents Coya 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 Q1 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 12 37 40 36 38 33 32 53
Total Current Assets		 12 37 40 36 38 33 32 53
Cash & Equivalents		 11 36 37 31 36 30 28 51
Prepaid Expenses		 0.94 1.34 3.31 4.45 2.84 3.67 3.89 2.54
Other Current Assets		 - 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Plant, Property, & Equipment, net		 0.07 0.06 0.05 0.05 0.03 0.02 0.02 0.01
Total Noncurrent Assets		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Noncurrent Nonoperating Assets		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Liabilities & Shareholders' Equity		 12 37 40 36 38 33 32 53
Total Liabilities		 1.81 5.00 4.68 3.54 5.04 5.14 4.76 4.30
Total Current Liabilities		 1.81 4.32 3.83 2.32 4.34 4.50 3.67 3.55
Accounts Payable		 0.63 1.59 1.88 0.34 1.69 0.93 1.11 0.95
Accrued Expenses		 1.17 2.04 1.00 1.41 1.81 2.84 1.64 1.36
Current Deferred Revenue		 - 0.69 0.94 0.57 0.84 0.73 0.92 1.24
Total Noncurrent Liabilities		 0.00 0.68 0.86 1.22 0.69 0.64 1.09 0.75
Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Noncurrent Deferred Revenue		 - 0.68 0.86 1.22 0.69 0.64 1.09 0.75
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 10 32 35 32 33 28 27 49
Total Preferred & Common Equity		 10 32 35 32 33 28 27 49
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 10 32 35 32 33 28 27 49
Common Stock		 37 63 69 70 81 82 84 118
Retained Earnings		 -27 -31 -34 -38 -48 -54 -56 -69
Other Equity Adjustments		 - -0.15 0.00 0.00 0.00 0.00 0.00 0.00

Annual Metrics And Ratios for Coya Therapeutics

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

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 10,030,436.00 - 20,924,456.00
DEI Adjusted Shares Outstanding		 0.00 10,030,436.00 - 20,924,456.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 -0.80 - -1.01
Growth Metrics		 - - - -
Revenue Growth		 0.00% 0.00% -40.79% 123.57%
EBITDA Growth		 0.00% 35.50% -115.21% -36.10%
EBIT Growth		 0.00% 40.68% -114.77% -36.04%
NOPAT Growth		 0.00% 19.45% -118.26% -30.76%
Net Income Growth		 0.00% 34.77% -86.29% -42.64%
EPS Growth		 0.00% 83.30% -24.05% -29.59%
Operating Cash Flow Growth		 0.00% -54.56% 8.04% -4.38%
Free Cash Flow Firm Growth		 0.00% 0.00% 6.51% -4.40%
Invested Capital Growth		 0.00% 221.37% -58.88% -406.67%
Revenue Q/Q Growth		 0.00% 0.00% -62.80% 99.26%
EBITDA Q/Q Growth		 0.00% -26,548.68% -49.46% -10.82%
EBIT Q/Q Growth		 0.00% 0.00% -49.33% -10.80%
NOPAT Q/Q Growth		 0.00% 0.00% -51.92% -9.47%
Net Income Q/Q Growth		 0.00% 0.00% -39.09% -15.15%
EPS Q/Q Growth		 0.00% 0.00% -48.48% -14.41%
Operating Cash Flow Q/Q Growth		 0.00% -0.16% -1.67% 11.55%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% -6.24% 14.80%
Invested Capital Q/Q Growth		 0.00% 477.29% 29.86% -348.86%
Profitability Metrics		 - - - -
Gross Margin		 0.00% 100.00% 100.00% 100.00%
EBITDA Margin		 0.00% -120.57% -438.19% -266.75%
Operating Margin		 0.00% -131.67% -485.35% -283.87%
EBIT Margin		 0.00% -121.02% -438.96% -267.10%
Profit (Net Income) Margin		 0.00% -133.08% -418.70% -267.14%
Tax Burden Percent		 100.00% 109.96% 95.38% 100.01%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% -2,088.53% -568.74% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% -2,070.14% -560.83% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 2,029.88% 529.17% 0.00%
Return on Equity (ROE)		 291.77% -58.64% -39.57% -51.39%
Cash Return on Invested Capital (CROIC)		 0.00% -366.26% -485.30% 0.00%
Operating Return on Assets (OROA)		 0.00% -29.26% -36.45% -45.01%
Return on Assets (ROA)		 0.00% -32.17% -34.76% -45.02%
Return on Common Equity (ROCE)		 597.44% -39.71% -39.57% -51.39%
Return on Equity Simple (ROE_SIMPLE)		 145.88% -22.42% -37.60% 0.00%
Net Operating Profit after Tax (NOPAT)		 -6.87 -5.53 -12 -16
NOPAT Margin		 0.00% -92.17% -339.75% -198.71%
Net Nonoperating Expense Percent (NNEP)		 90.90% -18.38% -7.91% -12.77%
Return On Investment Capital (ROIC_SIMPLE)		 - -15.52% -30.51% -36.69%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 130.51% 250.02% 144.10%
R&D to Revenue		 0.00% 100.71% 334.57% 239.43%
Operating Expenses to Revenue		 0.00% 231.67% 585.35% 383.87%
Earnings before Interest and Taxes (EBIT)		 -12 -7.26 -16 -21
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -11 -7.24 -16 -21
Valuation Ratios		 - - - -
Price to Book Value (P/BV)		 0.00 0.63 0.44 0.41
Price to Tangible Book Value (P/TBV)		 0.00 0.63 0.44 0.41
Price to Revenue (P/Rev)		 0.00 3.77 4.92 2.23
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - -
Debt to Equity		 -1.54 0.00 0.00 0.00
Long-Term Debt to Equity		 -1.54 0.00 0.00 0.00
Financial Leverage		 -0.70 -0.98 -0.94 -1.03
Leverage Ratio		 -1.00 1.82 1.14 1.14
Compound Leverage Factor		 -1.00 1.82 1.14 1.14
Debt to Total Capital		 283.59% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 283.59% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 192.34% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 -375.93% 100.00% 100.00% 100.00%
Debt to EBITDA		 -1.16 0.00 0.00 0.00
Net Debt to EBITDA		 -0.63 0.00 0.00 0.00
Long-Term Debt to EBITDA		 -1.16 0.00 0.00 0.00
Debt to NOPAT		 -1.89 0.00 0.00 0.00
Net Debt to NOPAT		 -1.02 0.00 0.00 0.00
Long-Term Debt to NOPAT		 -1.89 0.00 0.00 0.00
Altman Z-Score		 -6.80 2.15 0.93 -0.39
Noncontrolling Interest Sharing Ratio		 -104.77% 32.28% 0.00% 0.00%
Liquidity Ratios		 - - - -
Current Ratio		 1.88 8.15 11.59 8.50
Quick Ratio		 1.55 6.46 10.02 7.97
Cash Flow Metrics		 - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -11 -10 -11
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - -
Asset Turnover		 0.00 0.24 0.08 0.17
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 75.38 68.00 319.01
Accounts Payable Turnover		 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - -
Invested Capital		 -2.48 3.01 1.24 -3.79
Invested Capital Turnover		 0.00 22.66 1.67 -6.21
Increase / (Decrease) in Invested Capital		 0.00 5.49 -1.77 -5.03
Enterprise Value (EV)		 30 -10 -21 -29
Market Capitalization		 14 23 17 18
Book Value per Share		 ($6.64) $3.55 $2.37 $2.06
Tangible Book Value per Share		 ($6.64) $3.55 $2.37 $2.06
Total Capital		 4.57 36 40 43
Total Debt		 13 0.00 0.00 0.00
Total Long-Term Debt		 13 0.00 0.00 0.00
Net Debt		 7.03 -33 -38 -47
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -2.57 3.52 2.14 -2.76
Debt-free Net Working Capital (DFNWC)		 3.36 36 40 44
Net Working Capital (NWC)		 3.36 36 40 44
Net Nonoperating Expense (NNE)		 5.38 2.46 2.81 5.44
Net Nonoperating Obligations (NNO)		 5.91 -33 -38 -47
Total Depreciation and Amortization (D&A)		 1.02 0.03 0.03 0.03
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 58.60% 60.33% -34.68%
Debt-free Net Working Capital to Revenue		 0.00% 602.18% 1,139.09% 554.60%
Net Working Capital to Revenue		 0.00% 602.18% 1,139.09% 554.60%
Earnings Adjustments		 - - - -
Adjusted Basic Earnings per Share		 $0.00 ($0.79) ($0.98) ($1.27)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 10.16M 15.24M 16.73M
Adjusted Diluted Earnings per Share		 $0.00 ($0.79) ($0.98) ($1.27)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 10.16M 15.24M 16.73M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 14.54M 16.72M 23.46M
Normalized Net Operating Profit after Tax (NOPAT)		 -6.87 -5.53 -12 -16
Normalized NOPAT Margin		 0.00% -92.17% -339.75% -198.71%
Pre Tax Income Margin		 0.00% -121.02% -438.96% -267.10%
Debt Service Ratios		 - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00
Payout Ratios		 - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for Coya Therapeutics

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 0.00 10,030,436.00 14,542,579.00 14,618,172.00 15,221,308.00 - 16,724,998.00 16,724,998.00 16,725,081.00 20,924,456.00 23,457,183.00
DEI Adjusted Shares Outstanding		 0.00 10,030,436.00 14,542,579.00 14,618,172.00 15,221,308.00 - 16,724,998.00 16,724,998.00 16,725,081.00 20,924,456.00 23,457,183.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 0.13 -0.35 -0.20 -0.26 - -0.44 -0.36 -0.13 -0.27 -0.31
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 0.00% -99.97% 103.32% -95.22% 0.00% 202,768.80% -2.61%
EBITDA Growth		 12.12% 33,492.49% -84.83% 11.17% -12.86% -224.29% -44.69% -111.04% 47.47% -57.02% 1.31%
EBIT Growth		 12.22% 0.00% -84.61% 11.14% -12.83% -224.96% -44.63% -110.78% 47.39% -56.91% 1.37%
NOPAT Growth		 -33.89% 0.00% -89.06% 0.56% -24.87% -257.35% -40.01% -98.22% 45.33% -47.81% 0.48%
Net Income Growth		 14.89% 0.00% -84.61% 6.58% -17.52% -330.32% -44.63% -110.78% 47.39% -95.78% 1.37%
EPS Growth		 78.06% 0.00% -25.00% 38.71% 23.53% -228.57% -25.71% -89.47% 50.00% -88.89% 27.27%
Operating Cash Flow Growth		 0.00% -0.81% 155.54% -59.13% -146.44% -7.53% -231.80% -26.51% 79.30% 58.21% -119.52%
Free Cash Flow Firm Growth		 0.00% 0.00% 0.00% 0.00% -186.65% 70.47% -2,716.76% -360.67% 101.96% 174.70% 15.48%
Invested Capital Growth		 0.00% 221.37% 0.00% 0.00% 219.48% -58.88% 39.91% -9.75% -188.73% -406.67% 18.82%
Revenue Q/Q Growth		 0.00% 0.00% -97.89% 2,600.51% -100.00% 0.00% 13,111.27% -36.55% 2,078.43% 11.10% -93.66%
EBITDA Q/Q Growth		 -9.54% 164.59% -319.57% 42.82% -39.16% 35.73% -101.14% 16.60% 65.36% -170.21% -26.42%
EBIT Q/Q Growth		 -9.52% 164.28% -320.52% 42.76% -39.07% 35.67% -100.95% 16.58% 65.29% -169.66% -26.32%
NOPAT Q/Q Growth		 -9.52% 172.76% -311.45% 40.98% -37.52% 8.31% -88.15% 16.44% 62.07% -147.89% -26.68%
Net Income Q/Q Growth		 -10.55% 137.00% -499.05% 42.76% -39.07% 27.49% -150.59% 16.58% 65.29% -169.80% -26.25%
EPS Q/Q Growth		 -9.68% 141.18% -350.00% 45.71% -36.84% 30.77% -144.44% 18.18% 63.89% -161.54% 5.88%
Operating Cash Flow Q/Q Growth		 22.73% -1.13% 195.75% -312.67% -19.67% 55.88% -17.37% -104.13% 80.42% 10.92% -516.46%
Free Cash Flow Firm Q/Q Growth		 0.00% -116.38% 93.42% -291.67% -413.89% 77.71% -527.75% 35.94% 102.18% 751.66% -810.25%
Invested Capital Q/Q Growth		 0.00% 477.29% -219.53% 63.34% 172.26% 29.86% -274.66% 33.04% 41.58% -348.86% 53.77%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 100.00% 100.00% 100.00% 0.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 0.00% 38.28% -3,977.57% -84.22% 0.00% -146,306.71% -2,830.70% -3,720.99% -59.17% -143.90% -2,868.51%
Operating Margin		 0.00% 30.24% -4,322.84% -94.48% 0.00% -209,031.51% -2,976.89% -3,920.47% -68.26% -152.30% -3,042.13%
EBIT Margin		 0.00% 38.17% -3,982.96% -84.42% 0.00% -146,657.12% -2,833.35% -3,725.17% -59.36% -144.08% -2,869.63%
Profit (Net Income) Margin		 0.00% 21.09% -3,982.96% -84.42% 0.00% -149,373.77% -2,833.35% -3,725.17% -59.36% -144.16% -2,869.63%
Tax Burden Percent		 96.01% 55.26% 100.00% 100.00% 0.00% 101.85% 100.00% 100.00% 0.00% 72.99% 100.00%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 0.00% 100.00% 100.00% 100.00% 0.00% 137.08% 100.00%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 685.24% 0.00% 0.00% 0.00% -244,944.04% 0.00% 0.00% -3,547.56% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 689.36% 0.00% 0.00% 0.00% -244,943.87% 0.00% 0.00% -3,546.16% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% -675.95% 0.00% 0.00% 0.00% 231,115.43% 0.00% 0.00% 3,539.74% 0.00% 0.00%
Return on Equity (ROE)		 0.00% 9.29% -63.61% -57.29% 0.00% -13,828.61% -52.11% -63.99% -7.82% -51.39% -51.31%
Cash Return on Invested Capital (CROIC)		 0.00% -366.26% 0.00% 0.00% -1,017.88% -485.30% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% 9.23% -1,305.67% -40.39% 0.00% -12,176.91% -275.50% -42.99% -7.00% -24.28% -497.01%
Return on Assets (ROA)		 0.00% 5.10% -1,305.67% -40.39% 0.00% -12,402.47% -275.50% -42.99% -7.00% -24.29% -497.01%
Return on Common Equity (ROCE)		 0.00% 6.29% -63.61% -57.29% 0.00% -13,828.61% -52.11% -63.99% -7.82% -51.39% -51.31%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% -31.81% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -2.49 1.82 -3.84 -2.27 -3.12 -2.86 -5.37 -4.49 -1.70 -4.22 -5.35
NOPAT Margin		 0.00% 30.24% -3,025.99% -66.13% 0.00% -146,322.05% -2,083.82% -2,744.33% -47.78% -106.61% -2,129.49%
Net Nonoperating Expense Percent (NNEP)		 -17.03% -4.11% -6.75% -3.43% -4.32% -0.17% -5.41% -4.84% -1.39% -3.49% -4.31%
Return On Investment Capital (ROIC_SIMPLE)		 - 5.09% -11.85% -6.43% -9.73% -7.22% -16.10% -15.86% -6.24% -9.81% -10.92%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 39.61% 1,923.59% 60.97% 0.00% 109,527.00% 1,052.37% 1,777.45% 71.75% 82.57% 1,505.88%
R&D to Revenue		 0.00% 30.04% 2,493.86% 133.31% 0.00% 99,254.10% 2,021.87% 2,238.84% 96.31% 169.55% 1,635.13%
Operating Expenses to Revenue		 0.00% 69.76% 4,422.84% 194.48% 0.00% 209,131.51% 3,076.89% 4,020.47% 168.26% 252.30% 3,142.13%
Earnings before Interest and Taxes (EBIT)		 -3.56 2.29 -5.05 -2.89 -4.02 -2.86 -7.31 -6.09 -2.12 -5.71 -7.21
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -3.56 2.30 -5.05 -2.88 -4.01 -2.86 -7.30 -6.09 -2.11 -5.70 -7.20
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.16 0.63 0.93 0.52 0.61 0.44 0.59 0.62 0.64 0.41 0.25
Price to Tangible Book Value (P/TBV)		 1.16 0.63 0.93 0.52 0.61 0.44 0.59 0.62 0.64 0.41 0.25
Price to Revenue (P/Rev)		 0.00 3.77 4.94 1.93 2.06 4.92 5.35 41.42 4.36 2.23 1.51
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 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 EBITDA (EV/EBITDA)		 30.18 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		 -1.08 -0.98 -1.11 -1.04 -1.00 -0.94 -1.09 -1.04 -1.00 -1.03 -1.05
Leverage Ratio		 1.18 1.82 1.15 1.13 1.13 1.14 1.15 1.15 1.14 1.14 1.11
Compound Leverage Factor		 1.18 1.82 1.15 1.13 0.00 1.14 1.15 1.15 0.00 1.56 1.11
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		 0.72 2.91 3.25 2.27 2.86 1.87 1.13 0.23 0.70 0.64 0.68
Noncontrolling Interest Sharing Ratio		 0.00% 32.28% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 6.54 8.15 8.64 10.43 15.31 11.59 8.84 7.43 8.73 8.50 15.02
Quick Ratio		 6.03 6.46 8.33 9.56 13.39 10.02 8.18 6.61 7.67 7.97 14.30
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -1.70 -3.67 -0.24 -0.95 -4.87 -1.08 -6.81 -4.36 0.10 0.81 -5.75
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 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 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		 0.00 0.24 0.33 0.48 0.40 0.08 0.10 0.01 0.12 0.17 0.17
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		 0.00 75.38 0.00 0.00 161.64 68.00 81.12 10.97 125.60 319.01 395.29
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		 -0.80 3.01 -3.60 -1.32 0.95 1.24 -2.16 -1.45 -0.85 -3.79 -1.75
Invested Capital Turnover		 0.00 22.66 -3.41 -14.49 123.03 1.67 -1.28 -0.31 74.25 -6.21 -4.06
Increase / (Decrease) in Invested Capital		 -0.80 5.49 -3.60 -1.32 1.75 -1.77 1.44 -0.13 -1.80 -5.03 0.41
Enterprise Value (EV)		 0.83 -10 -5.73 -18 -11 -21 -16 -12 -11 -29 -39
Market Capitalization		 12 23 30 18 20 17 20 18 17 18 12
Book Value per Share		 $1.01 $3.55 $2.23 $2.41 $2.10 $2.37 $2.00 $1.69 $1.63 $2.06 $2.09
Tangible Book Value per Share		 $1.01 $3.55 $2.23 $2.41 $2.10 $2.37 $2.00 $1.69 $1.63 $2.06 $2.09
Total Capital		 10 36 32 35 32 40 33 28 27 43 49
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		 -11 -33 -36 -37 -31 -38 -36 -30 -28 -47 -51
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -0.87 3.52 -2.97 -0.51 2.13 2.14 -1.50 -0.83 0.23 -2.76 -1.01
Debt-free Net Working Capital (DFNWC)		 10 36 33 36 33 40 34 29 28 44 50
Net Working Capital (NWC)		 10 36 33 36 33 40 34 29 28 44 50
Net Nonoperating Expense (NNE)		 0.93 0.55 1.21 0.63 0.91 0.06 1.93 1.60 0.41 1.49 1.86
Net Nonoperating Obligations (NNO)		 -11 -33 -36 -37 -31 -38 -36 -30 -28 -47 -51
Total Depreciation and Amortization (D&A)		 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.00
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 58.60% -48.53% -5.38% 22.29% 60.33% -40.66% -196.19% 5.71% -34.68% -12.70%
Debt-free Net Working Capital to Revenue		 0.00% 602.18% 538.67% 377.43% 347.35% 1,139.09% 923.51% 6,831.13% 711.13% 554.60% 626.23%
Net Working Capital to Revenue		 0.00% 602.18% 538.67% 377.43% 347.35% 1,139.09% 923.51% 6,831.13% 711.13% 554.60% 626.23%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.34) $0.14 ($0.35) ($0.19) ($0.26) ($0.18) ($0.44) ($0.36) ($0.13) ($0.34) ($0.32)
Adjusted Weighted Average Basic Shares Outstanding		 9.95M 10.16M 14.46M 14.92M 15.22M 15.24M 16.72M 16.72M 16.73M 16.73M 22.64M
Adjusted Diluted Earnings per Share		 ($0.34) $0.14 ($0.35) ($0.19) ($0.26) ($0.18) ($0.44) ($0.36) ($0.13) ($0.34) ($0.32)
Adjusted Weighted Average Diluted Shares Outstanding		 9.95M 10.16M 14.46M 14.92M 15.22M 15.24M 16.72M 16.72M 16.73M 16.73M 22.64M
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		 10.03M 14.54M 14.62M 15.22M 16.71M 16.72M 16.72M 16.73M 20.92M 23.46M 23.46M
Normalized Net Operating Profit after Tax (NOPAT)		 -2.49 1.27 -3.84 -2.27 -3.12 -2.86 -5.37 -4.49 -1.70 -4.22 -5.35
Normalized NOPAT Margin		 0.00% 21.17% -3,025.99% -66.13% 0.00% -146,322.05% -2,083.82% -2,744.33% -47.78% -106.61% -2,129.49%
Pre Tax Income Margin		 0.00% 38.17% -3,982.96% -84.42% 0.00% -146,657.12% -2,833.35% -3,725.17% 0.00% -197.51% -2,869.63%
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

Coya Therapeutics (NASDAQ: COYA) remains a development-stage biotech with a very strong cash position, but it is still burning cash at a meaningful rate and has not yet established a stable revenue base. Over the last four years, the company has shown a clear pattern of rising operating expenses, repeated quarterly losses, and heavy reliance on equity financing to fund operations.

One of the most important positives is the balance sheet. As of March 31, 2026, Coya reported $50.7 million in cash and equivalents and $53.3 million in total current assets against only $4.3 million in total liabilities. That leaves the company with a solid liquidity cushion and no long-term debt.

However, the cash burn remains significant. In Q1 2026, operating cash flow was negative $6.2 million, and net loss came in at $7.2 million. Even after a large financing inflow of nearly $11.0 million, cash still only increased by about $3.9 million for the quarter.

Revenue is still too small to offset expenses. Q1 2026 revenue was just $251,147, compared with $7.9 million in operating expenses. That means the company is far from breakeven and continues to depend on financing and other non-operating sources.

Looking at the trend across the last four years, revenue has been highly volatile and generally inconsistent. COYA posted quarterly revenue of:

  • about $6.0 million in Q4 2023
  • about $3.4 million in Q2 2024
  • about $3.6 million in Q3 2025
  • just $251,147 in Q1 2026

At the same time, quarterly losses have remained persistent. Net losses were:

  • around $5.1 million to $7.7 million in Q1 2024 through Q1 2026
  • $2.9 million in Q2 2024
  • $2.1 million in Q3 2025
  • $5.7 million in Q4 2025

Expense discipline has not yet translated into profitability. R&D and SG&A spending have stayed elevated, with total operating expenses ranging from roughly $4.1 million to $10.0 million per quarter over the period reviewed. The Q4 2025 quarter was especially expensive, driven by $6.7 million of R&D and nearly $3.3 million of SG&A.

Share count growth is another key point for investors. Weighted average basic shares outstanding rose from roughly 14.5 million in Q1 2024 to 22.6 million in Q1 2026, indicating meaningful dilution over time. The financing history also shows repeated equity raises, including $20.3 million in Q4 2025 and $11.0 million in Q1 2026.

Cash has improved from the lows of 2025, but the company is still dependent on capital markets. Cash and equivalents climbed from $29.8 million in Q2 2025 to $50.7 million in Q1 2026, largely because of equity issuance rather than strong operating performance.

  • $50.7 million in cash and equivalents provides a meaningful liquidity buffer.
  • The company has no long-term debt, which reduces balance sheet risk.
  • Current assets of $53.3 million substantially exceed current liabilities of $3.5 million.
  • Cash improved materially from $29.8 million in Q2 2025 to $50.7 million in Q1 2026.
  • Other income helped cushion results in some quarters, but it has not been enough to produce profitability.
  • Deferred revenue remains on the balance sheet, suggesting some contracted or prepaid activity, though it is modest.
  • Q1 2026 revenue was only $251,147, far below operating expenses.
  • Q1 2026 operating cash flow was negative $6.2 million.
  • The company has posted persistent quarterly losses for several years.
  • Equity financing has caused dilution, with share counts rising significantly over time.

Bottom line: COYA’s financial position is currently supported by a decent cash reserve and a debt-free balance sheet, but the business still looks like a classic early-stage biotech story: limited revenue, ongoing losses, and continued dependence on shareholder dilution to fund operations. Investors will likely want to watch for a meaningful revenue ramp or clinical/commercial progress before the financial picture improves materially.

07/21/26 04:45 PM ETAI Generated. May Contain Errors.

Coya Therapeutics Financials - Frequently Asked Questions

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

Coya Therapeutics' net income appears to be on an upward trend, with a most recent value of -$21.23 million in 2025, rising from -$12.24 million in 2022. The previous period was -$14.88 million in 2024. See where experts think Coya Therapeutics is headed by visiting Coya Therapeutics' forecast page.

Coya Therapeutics' total operating income in 2025 was -$22.56 million, based on the following breakdown:
  • Total Gross Profit: $7.95 million
  • Total Operating Expenses: $30.50 million

Over the last 3 years, Coya Therapeutics' total revenue changed from $0.00 in 2022 to $7.95 million in 2025, a change of 794,575,300.0%.

Coya Therapeutics' total liabilities were at $6.92 million at the end of 2025, a 45.1% increase from 2024, and a 58.8% decrease since 2022.

In the past 3 years, Coya Therapeutics' cash and equivalents has ranged from $5.93 million in 2022 to $46.82 million in 2025, and is currently $46.82 million as of their latest financial filing in 2025.

Over the last 3 years, Coya Therapeutics' book value per share changed from -6.64 in 2022 to 2.06 in 2025, a change of -131.0%.


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