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Cardiol Therapeutics (CRDL) Financials

Cardiol Therapeutics logo
$1.15 +0.09 (+8.49%)
Closing price 07/14/2026 04:00 PM Eastern
Extended Trading
$1.13 -0.02 (-1.65%)
As of 04:44 AM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Cardiol Therapeutics

Annual Income Statements for Cardiol Therapeutics

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

Metric 2020 2021 2022 2023 2024 2025
Period end date 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		 -16 -25 -23 -21 -25 -25
Consolidated Net Income / (Loss)		 -16 -25 -23 -21 -25 -25
Net Income / (Loss) Continuing Operations		 -16 -25 -23 -21 -25 -25
Total Pre-Tax Income 		-16 -25 -23 -21 -25 -25
Total Operating Income		 -16 -30 -31 -23 -28 -25
Total Gross Profit		 0.00 0.06 0.00 0.00 0.00 0.00
Total Revenue		 0.00 0.06 0.00 0.00 0.00 0.00
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.00 0.00
Total Operating Expenses		 16 30 31 22 28 25
Selling, General & Admin Expense		 7.91 22 17 12 18 15
Research & Development Expense		 8.31 8.51 14 11 9.73 10
Other Operating Expenses / (Income)		 -0.01 - - -0.11 -0.02 0.00
Total Other Income / (Expense), net		 0.03 5.50 7.69 1.14 2.48 0.36
Interest & Investment Income		 0.06 - - 1.54 0.83 0.53
Other Income / (Expense), net		 -0.03 5.42 6.77 -0.40 1.65 -0.17
Basic Earnings per Share		 ($0.69) ($0.73) ($0.49) ($0.33) ($0.35) ($0.28)
Weighted Average Basic Shares Outstanding		 29.86M 43.22M 62.51M 64.46M 71.57M 100.26M
Diluted Earnings per Share		 ($0.69) ($0.73) ($0.49) ($0.33) ($0.35) ($0.28)
Weighted Average Diluted Shares Outstanding		 29.86M 43.22M 62.51M 64.46M 71.57M 100.26M
Weighted Average Basic & Diluted Shares Outstanding		 59.71M 43.22M 62.51M 128.93M 143.14M 173.98M

Quarterly Income Statements for Cardiol Therapeutics

No quarterly income statements for Cardiol Therapeutics are available.

Annual Cash Flow Statements for Cardiol Therapeutics

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

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 5.59 55 -20 -19 -4.33 -6.08
Net Cash From Operating Activities		 -7.16 -18 -20 -19 -17 -17
Net Cash From Continuing Operating Activities		 -11 -20 -20 -19 -16 -17
Net Income / (Loss) Continuing Operations		 -16 -25 -23 -21 -25 -25
Consolidated Net Income / (Loss)		 -16 -25 -23 -21 -25 -25
Depreciation Expense		 0.11 0.11 0.10 0.12 0.11 0.07
Non-Cash Adjustments To Reconcile Net Income		 2.17 2.70 -0.85 3.11 9.66 7.18
Changes in Operating Assets and Liabilities, net		 2.85 1.84 3.20 -0.93 -0.71 0.22
Net Cash From Investing Activities		 -0.03 -0.01 -0.06 -0.05 -0.01 -0.02
Net Cash From Continuing Investing Activities		 -0.03 -0.01 -0.06 -0.05 -0.01 -0.02
Purchase of Property, Plant & Equipment		 -0.03 -0.01 -0.06 -0.05 -0.01 -0.02
Net Cash From Financing Activities		 13 73 -0.04 -0.04 13 11
Net Cash From Continuing Financing Activities		 13 64 -0.04 -0.04 13 11
Repayment of Debt		 -0.04 -0.04 -0.04 -0.04 -0.03 -0.04
Repurchase of Common Equity		 -0.85 -4.10 0.00 0.00 -1.84 -0.35
Issuance of Common Equity		 14 66 0.00 0.00 15 12
Other Financing Activities, net		 0.00 2.22 0.00 0.00 0.12 0.02

Quarterly Cash Flow Statements for Cardiol Therapeutics

No quarterly cash flow statements for Cardiol Therapeutics are available.

Annual Balance Sheets for Cardiol Therapeutics

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

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 12 69 46 28 22 17
Total Current Assets		 0.29 68 45 27 22 17
Cash & Equivalents		 - 66 44 26 21 16
Accounts Receivable		 0.00 0.32 0.35 0.21 0.25 0.16
Prepaid Expenses		 0.27 2.22 1.10 0.71 0.50 1.36
Plant, Property, & Equipment, net		 0.38 0.28 0.00 0.26 0.14 0.09
Plant, Property & Equipment, gross		 - 0.28 - 0.26 0.14 0.09
Total Noncurrent Assets		 0.80 0.30 0.22 0.16 0.00 0.00
Total Liabilities & Shareholders' Equity		 12 69 46 28 22 17
Total Liabilities		 2.06 9.11 7.26 6.40 4.96 4.19
Total Current Liabilities		 43 9.05 7.25 6.28 4.87 4.12
Accounts Payable		 1.93 3.80 6.90 6.09 4.84 2.54
Other Current Liabilities		 41 5.25 0.35 0.19 0.02 1.59
Total Noncurrent Liabilities		 -34 0.06 0.02 0.12 0.09 0.06
Capital Lease Obligations		 - 0.06 0.02 0.12 0.09 0.06
Total Equity & Noncontrolling Interests		 3.50 60 39 21 17 13
Total Preferred & Common Equity		 3.50 60 39 21 17 13
Preferred Stock		 - 9.91 12 14 17 21
Total Common Equity		 3.50 50 27 7.17 0.06 -8.17
Common Stock		 - 112 109 112 125 147
Retained Earnings		 - -65 -85 -108 -124 -155

Quarterly Balance Sheets for Cardiol Therapeutics

No quarterly balance sheets for Cardiol Therapeutics are available.

Annual Metrics And Ratios for Cardiol Therapeutics

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

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 61,922,999.00 64,042,536.00 65,352,279.00 82,608,992.00 100,257,009.00
DEI Adjusted Shares Outstanding		 0.00 61,922,999.00 64,042,536.00 65,352,279.00 82,608,992.00 100,257,009.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 -0.40 -0.36 -0.33 -0.31 -0.25
Growth Metrics		 - - - - - -
Revenue Growth		 0.00% 0.00% -100.00% 0.00% 0.00% 0.00%
EBITDA Growth		 0.00% -53.34% 4.31% 3.52% -14.74% 4.15%
EBIT Growth		 0.00% -52.92% 4.32% 3.40% -14.61% 4.28%
NOPAT Growth		 0.00% -86.57% -0.94% 26.14% -23.97% 10.52%
Net Income Growth		 0.00% -53.03% 7.69% 6.79% -19.54% 3.17%
EPS Growth		 0.00% -5.80% 32.88% 31.98% -6.27% 19.71%
Operating Cash Flow Growth		 0.00% -157.43% -9.18% 5.18% 8.75% 0.04%
Free Cash Flow Firm Growth		 0.00% 0.00% 4.37% 24.49% -25.11% 7.63%
Invested Capital Growth		 0.00% 20.79% 6.16% 11.29% 19.57% 36.69%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Profitability Metrics		 - - - - - -
Gross Margin		 0.00% 100.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Margin		 0.00% -40,132.40% 0.00% 0.00% 0.00% 0.00%
Operating Margin		 0.00% -49,091.94% 0.00% 0.00% 0.00% 0.00%
EBIT Margin		 0.00% -40,305.04% 0.00% 0.00% 0.00% 0.00%
Profit (Net Income) Margin		 0.00% -40,170.46% 0.00% 0.00% 0.00% 0.00%
Tax Burden Percent		 99.96% 100.00% 100.00% 99.47% 99.92% 100.00%
Interest Burden Percent		 99.63% 99.67% 96.15% 93.28% 96.85% 97.90%
Effective Tax Rate		 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%
ROIC Less NNEP Spread (ROIC-NNEP)		 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%
Return on Equity (ROE)		 -462.73% -78.40% -46.53% -71.05% -132.08% -163.28%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% -61.17% 0.00% 0.00% 0.00% 0.00%
Return on Assets (ROA)		 0.00% -60.96% 0.00% 0.00% 0.00% 0.00%
Return on Common Equity (ROCE)		 -462.73% -66.10% -36.38% -40.55% -24.73% 43.87%
Return on Equity Simple (ROE_SIMPLE)		 -462.73% -41.50% -59.25% -99.58% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -11 -21 -21 -16 -20 -18
NOPAT Margin		 0.00% -34,364.36% 0.00% 0.00% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 -43.90% -9.34% -2.69% -15.64% -24.81% -38.93%
Return On Investment Capital (ROIC_SIMPLE)		 - - - -73.40% -113.44% -133.71%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 35,389.98% 0.00% 0.00% 0.00% 0.00%
R&D to Revenue		 0.00% 13,801.96% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 49,191.94% 0.00% 0.00% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 -16 -25 -24 -23 -26 -25
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -16 -25 -24 -23 -26 -25
Valuation Ratios		 - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 1.17 7.54 1,481.27 0.00
Price to Tangible Book Value (P/TBV)		 0.00 0.00 1.18 7.71 1,481.27 0.00
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00
Price to Earnings (P/E)		 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%
Earnings Yield		 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
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 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
Enterprise Value to NOPAT (EV/NOPAT)		 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
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.01 0.01 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.01 0.01 0.00
Financial Leverage		 -3.14 -1.21 -1.12 -1.18 -1.23 -1.21
Leverage Ratio		 3.56 1.29 1.17 1.23 1.29 1.30
Compound Leverage Factor		 3.55 1.28 1.12 1.15 1.25 1.28
Debt to Total Capital		 0.00% 0.10% 0.04% 0.56% 0.51% 0.49%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.10% 0.04% 0.56% 0.51% 0.49%
Preferred Equity to Total Capital		 0.00% 16.59% 29.85% 66.14% 99.17% 161.89%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 83.31% 70.11% 33.30% 0.33% -62.38%
Debt to EBITDA		 0.00 0.00 0.00 -0.01 0.00 0.00
Net Debt to EBITDA		 0.00 2.65 1.86 1.15 0.81 0.62
Long-Term Debt to EBITDA		 0.00 0.00 0.00 -0.01 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 -0.01 0.00 0.00
Net Debt to NOPAT		 0.00 3.10 2.05 1.67 1.08 0.89
Long-Term Debt to NOPAT		 0.00 0.00 0.00 -0.01 0.00 0.00
Altman Z-Score		 0.00 0.00 -0.69 -2.19 -0.74 -5.26
Noncontrolling Interest Sharing Ratio		 0.00% 15.69% 21.81% 42.93% 81.27% 126.87%
Liquidity Ratios		 - - - - - -
Current Ratio		 0.01 7.53 6.27 4.36 4.52 4.16
Quick Ratio		 0.00 7.29 6.11 4.24 4.41 3.83
Cash Flow Metrics		 - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -23 -22 -16 -21 -19
Operating Cash Flow to CapEx		 -22,485.26% -182,248.06% -36,435.25% -39,153.43% -117,709.70% -97,428.96%
Free Cash Flow to Firm to Interest Expense		 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
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Receivable Turnover		 0.00 0.38 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.19 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 956.82 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 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
Cash Conversion Cycle (CCC)		 0.00 956.82 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - -
Invested Capital		 -7.50 -5.94 -5.57 -4.94 -3.98 -2.52
Invested Capital Turnover		 0.00 -0.01 0.00 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 0.00 1.56 0.37 0.63 0.97 1.46
Enterprise Value (EV)		 0.00 0.00 -0.83 42 80 84
Market Capitalization		 0.00 0.00 32 54 84 79
Book Value per Share		 $0.12 $1.15 $0.44 $0.11 $0.00 ($0.10)
Tangible Book Value per Share		 $0.10 $1.14 $0.43 $0.11 $0.00 ($0.10)
Total Capital		 3.50 60 39 22 17 13
Total Debt		 0.00 0.06 0.02 0.12 0.09 0.06
Total Long-Term Debt		 0.00 0.06 0.02 0.12 0.09 0.06
Net Debt		 0.00 -66 -44 -26 -21 -16
Capital Expenditures (CapEx)		 0.03 0.01 0.06 0.05 0.01 0.02
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -42 -6.51 -5.79 -5.36 -4.11 -2.60
Debt-free Net Working Capital (DFNWC)		 -42 59 38 21 17 13
Net Working Capital (NWC)		 -42 59 38 21 17 13
Net Nonoperating Expense (NNE)		 4.83 3.58 1.47 5.51 5.89 7.15
Net Nonoperating Obligations (NNO)		 -11 -66 -44 -26 -21 -16
Total Depreciation and Amortization (D&A)		 0.11 0.11 0.10 0.12 0.11 0.07
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% -10,568.64% 0.00% 0.00% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 95,956.35% 0.00% 0.00% 0.00% 0.00%
Net Working Capital to Revenue		 0.00% 95,956.35% 0.00% 0.00% 0.00% 0.00%
Earnings Adjustments		 - - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($0.73) ($0.49) ($0.44) ($0.35) ($0.28)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 61.92M 64.04M 65.35M 82.61M 100.26M
Adjusted Diluted Earnings per Share		 $0.00 ($0.73) ($0.49) ($0.44) ($0.35) ($0.28)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 61.92M 64.04M 65.35M 82.61M 100.26M
Adjusted Basic & Diluted Earnings per Share		 $0.00 ($0.73) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 86.45M 125.01M 128.93M 143.14M 173.98M
Normalized Net Operating Profit after Tax (NOPAT)		 -11 -21 -21 -16 -20 -18
Normalized NOPAT Margin		 0.00% -34,364.36% 0.00% 0.00% 0.00% 0.00%
Pre Tax Income Margin		 0.00% -40,170.46% 0.00% 0.00% 0.00% 0.00%
Debt Service Ratios		 - - - - - -
EBIT to Interest Expense		 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
EBIT Less CapEx to Interest Expense		 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
Payout Ratios		 - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 -5.27% -16.56% 0.00% 0.00% -7.23% -1.41%

Quarterly Metrics And Ratios for Cardiol Therapeutics

No quarterly metrics and ratios for Cardiol Therapeutics are available.


Financials Breakdown Chart

Cardiol Therapeutics Financials - Frequently Asked Questions

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

Cardiol Therapeutics' net income appears to be on an upward trend, with a most recent value of -$24.66 million in 2025, rising from -$16.18 million in 2020. The previous period was -$25.47 million in 2024. Check out Cardiol Therapeutics' forecast to explore projected trends and price targets.

Cardiol Therapeutics' total operating income in 2025 was -$25.03 million, based on the following breakdown:
  • Total Gross Profit: $0.00
  • Total Operating Expenses: $25.03 million

Over the last 5 years, Cardiol Therapeutics' total revenue changed from $0.00 in 2020 to $0.00 in 2025, a change of 0.0%.

Cardiol Therapeutics' total liabilities were at $4.19 million at the end of 2025, a 15.5% decrease from 2024, and a 103.7% increase since 2020.

In the past 5 years, Cardiol Therapeutics' cash and equivalents has ranged from $0.00 in 2020 to $65.66 million in 2021, and is currently $15.62 million as of their latest financial filing in 2025.

Over the last 5 years, Cardiol Therapeutics' book value per share changed from 0.12 in 2020 to -0.10 in 2025, a change of -184.5%.


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