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Cue Biopharma (CUE) Financials

Cue Biopharma logo
$20.30 -0.13 (-0.64%)
As of 03:50 PM Eastern
This is a fair market value price provided by Massive. Learn more.
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Annual Income Statements for Cue Biopharma

Annual Income Statements for Cue Biopharma

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

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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		 -23 -39 -37 -93 -44 -53 -51 -41 -27
Consolidated Net Income / (Loss)		 -23 -39 -37 -45 -44 -53 -51 -41 -27
Net Income / (Loss) Continuing Operations		 -23 -39 -37 -93 -44 -53 -51 -41 -27
Total Pre-Tax Income 		-23 -38 -36 -45 -44 -53 -51 -41 -26
Total Operating Income		 -23 -39 -37 -45 -44 -53 -52 -42 -27
Total Gross Profit		 0.00 1.14 3.46 3.15 15 1.25 5.49 9.29 27
Total Revenue		 0.00 1.14 3.46 3.15 15 1.25 5.49 9.29 27
Operating Revenue		 0.00 1.14 3.46 3.15 15 1.25 5.49 9.29 27
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Operating Expenses		 23 40 40 96 59 55 58 51 54
Selling, General & Admin Expense		 4.33 11 13 63 17 16 17 15 16
Research & Development Expense		 19 29 27 34 41 39 41 36 38
Other Special Charges / (Income)		 - - - - - - 0.16 -0.09 0.03
Total Other Income / (Expense), net		 0.00 0.54 0.48 0.93 0.05 0.22 1.42 0.83 0.45
Interest Expense		 - - - - 0.00 0.71 1.25 0.80 0.36
Interest & Investment Income		 0.00 0.38 0.48 0.46 0.05 0.93 2.66 1.62 0.81
Income Tax Expense		 0.00 0.83 0.41 0.21 0.50 - - 0.00 0.50
Basic Earnings per Share		 ($2.16) ($1.94) ($1.66) ($1.56) ($1.41) ($1.49) ($1.11) ($0.72) ($0.28)
Weighted Average Basic Shares Outstanding		 10.73M 20.13M 22.04M 28.69M 31.29M 35.65M 45.75M 56.33M 94.73M
Diluted Earnings per Share		 ($2.16) ($1.94) ($1.66) ($1.56) ($1.41) ($1.49) ($1.11) ($0.72) ($0.28)
Weighted Average Diluted Shares Outstanding		 10.73M 20.13M 22.04M 28.69M 31.29M 35.65M 45.75M 56.33M 94.73M
Weighted Average Basic & Diluted Shares Outstanding		 10.73M 20.13M 22.04M 28.69M 31.29M 43.17M 48.64M 61.82M 97.66M

Quarterly Income Statements for Cue Biopharma

This table shows Cue Biopharma's 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		 -13 -11 -13 -12 -10 -8.66 -9.50 -12 -8.48 -7.45 1.59
Consolidated Net Income / (Loss)		 -13 -11 -13 -12 -10 -8.66 -9.50 -12 -8.48 -7.45 1.59
Net Income / (Loss) Continuing Operations		 -13 -11 -13 -12 -10 -8.66 -9.50 -12 -8.48 -7.45 1.59
Total Pre-Tax Income 		-13 -11 -13 -12 -10 -8.66 -9.50 -12 -8.48 -7.45 2.09
Total Operating Income		 -14 -11 -14 -13 -10 -8.82 -9.63 -12 -8.64 -7.60 1.98
Total Gross Profit		 1.38 2.10 1.82 1.72 2.66 3.34 1.58 0.42 2.95 2.15 22
Total Revenue		 1.38 2.10 1.82 1.72 2.66 3.34 1.58 0.42 2.95 2.15 22
Operating Revenue		 1.38 2.10 1.82 1.72 2.66 3.34 1.58 0.42 2.95 2.15 22
Total Operating Expenses		 15 14 16 14 13 12 11 13 12 9.74 20
Selling, General & Admin Expense		 4.25 3.65 4.61 4.19 3.51 2.87 4.02 4.17 3.68 4.94 3.45
Research & Development Expense		 11 9.87 11 10 9.53 9.38 7.19 8.55 7.91 4.75 17
Other Special Charges / (Income)		 - 0.00 - 0.00 0.00 -0.10 - 0.00 0.00 0.05 -0.02
Total Other Income / (Expense), net		 0.33 0.41 0.40 0.32 0.21 0.16 0.14 0.04 0.15 0.15 0.11
Interest Expense		 0.23 0.29 0.36 0.24 0.22 0.19 0.15 0.13 0.05 0.08 0.11
Interest & Investment Income		 0.56 0.70 0.76 0.56 0.43 0.34 0.29 0.17 0.20 0.22 0.22
Basic Earnings per Share		 ($0.29) ($0.24) ($0.29) ($0.25) ($0.20) ($0.17) ($0.10) ($0.17) ($0.09) ($0.07) $0.05
Weighted Average Basic Shares Outstanding		 44.80M 46.36M 45.75M 49.47M 50.17M 51.23M 56.33M 74.25M 95.46M 100.87M 94.73M
Diluted Earnings per Share		 ($0.29) ($0.24) ($0.29) ($0.25) ($0.20) ($0.17) ($0.10) ($0.17) ($0.09) ($0.07) $0.05
Weighted Average Diluted Shares Outstanding		 44.80M 46.36M 45.75M 49.47M 50.17M 51.23M 56.33M 74.25M 95.46M 100.87M 94.73M
Weighted Average Basic & Diluted Shares Outstanding		 44.96M 45.12M 48.64M 48.64M 48.64M 63.35M 61.82M 75.35M 76.85M 78.74M 97.66M

Annual Cash Flow Statements for Cue Biopharma

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

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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		 49 -43 23 35 -10 -13 -3.10 -26 4.68
Net Cash From Operating Activities		 -12 -26 -31 -32 -39 -42 -40 -36 -22
Net Cash From Continuing Operating Activities		 -12 -26 -31 -28 -33 -42 -40 -36 -22
Net Income / (Loss) Continuing Operations		 -23 -39 -37 -45 -44 -53 -51 -41 -27
Consolidated Net Income / (Loss)		 -23 -39 -37 -45 -44 -53 -51 -41 -27
Depreciation Expense		 0.42 0.76 0.81 1.06 1.26 0.92 0.56 0.40 0.96
Amortization Expense		 - - -0.07 0.08 3.03 -0.29 -0.20 0.04 -0.18
Non-Cash Adjustments To Reconcile Net Income		 10 11 5.94 10 3.37 9.18 13 6.90 14
Changes in Operating Assets and Liabilities, net		 0.52 0.66 -0.78 4.93 3.73 1.40 -3.05 -2.99 -9.67
Net Cash From Investing Activities		 -1.20 -20 3.45 4.46 9.11 -25 25 0.03 0.08
Net Cash From Continuing Investing Activities		 -1.20 -20 3.45 4.46 9.11 -25 25 0.03 0.08
Purchase of Property, Plant & Equipment		 -1.03 -1.85 -0.05 -0.60 -0.91 -0.17 0.00 -0.07 -0.18
Purchase of Investments		 0.00 -40 -15 -9.95 0.00 -29 - 0.00 -16
Sale of Property, Plant & Equipment		 - - 0.13 0.00 0.02 0.01 0.00 0.10 0.04
Sale and/or Maturity of Investments		 0.00 21 19 15 10 5.00 25 0.00 17
Net Cash From Financing Activities		 62 4.18 51 59 19 54 12 10 26
Net Cash From Continuing Financing Activities		 62 4.18 51 59 19 54 12 10 26
Repayment of Debt		 - - - - 0.00 -0.14 -2.00 -4.00 -4.50
Issuance of Debt		 - - - - 0.00 15 0.00 0.02 0.00
Issuance of Common Equity		 66 4.17 49 57 0.00 23 0.00 11 28
Other Financing Activities, net		 0.01 0.01 1.88 2.20 20 17 14 3.41 2.50
Cash Interest Paid		 0.00 - - - 0.00 0.57 1.00 0.67 0.21

Quarterly Cash Flow Statements for Cue Biopharma

This table details how cash moves in and out of Cue Biopharma's 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		 -3.27 1.79 -6.18 -7.49 -11 2.39 -9.96 -9.32 14 -16 15
Net Cash From Operating Activities		 -10 -7.80 -11 -9.78 -9.99 -7.53 -9.03 -8.17 -3.42 -9.02 -1.08
Net Cash From Continuing Operating Activities		 -10 -7.80 -11 -9.78 -9.99 -7.53 -9.03 -8.17 -3.42 -9.02 -1.08
Net Income / (Loss) Continuing Operations		 -13 -11 -13 -12 -10 -8.66 -9.50 -12 -8.48 -7.45 1.59
Consolidated Net Income / (Loss)		 -13 -11 -13 -12 -10 -8.66 -9.50 -12 -8.48 -7.45 1.59
Depreciation Expense		 0.14 0.13 0.11 0.10 0.10 0.10 0.10 0.10 0.10 0.08 0.68
Amortization Expense		 -0.06 -0.00 0.01 0.01 0.01 0.01 0.01 0.01 0.01 -0.17 -0.02
Non-Cash Adjustments To Reconcile Net Income		 2.64 2.25 2.88 2.41 1.74 1.58 1.09 2.07 12 -0.09 -0.21
Changes in Operating Assets and Liabilities, net		 0.10 0.83 -0.52 0.05 -1.66 -0.56 -0.73 1.91 -7.07 -1.40 -3.11
Net Cash From Investing Activities		 5.00 5.00 - -0.06 -0.01 0.10 -0.00 -0.15 -0.03 -6.77 7.02
Net Cash From Continuing Investing Activities		 5.00 5.00 - -0.06 -0.01 0.10 -0.00 -0.15 -0.03 -6.77 7.02
Sale of Property, Plant & Equipment		 - - - 0.00 - - 0.00 0.00 - - 0.02
Sale and/or Maturity of Investments		 5.00 5.00 - 0.00 - - - 0.00 - - 7.00
Net Cash From Financing Activities		 2.10 4.59 4.78 2.35 -1.00 9.82 -0.93 -1.00 18 0.00 9.49
Net Cash From Continuing Financing Activities		 2.10 4.59 4.78 2.35 -1.00 9.82 -0.93 -1.00 18 0.00 9.49
Repayment of Debt		 - -1.00 -1.00 -1.00 -1.00 -1.00 -1.00 -1.00 -1.00 -1.00 -1.50
Issuance of Common Equity		 - - - 0.00 - 11 -0.01 0.00 18 - 10
Other Financing Activities, net		 2.10 5.59 5.78 3.35 - - 0.06 0.00 0.75 1.00 0.75
Cash Interest Paid		 0.18 0.26 0.24 0.21 0.18 0.16 0.12 0.09 0.07 0.04 0.02

Annual Balance Sheets for Cue Biopharma

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

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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		 67 45 72 100 83 91 62 32 42
Total Current Assets		 65 41 61 88 68 77 51 25 37
Cash & Equivalents		 64 21 44 75 64 52 49 22 27
Accounts Receivable		 - - 0.75 1.42 3.14 0.06 1.70 0.95 5.55
Prepaid Expenses		 1.26 1.35 0.86 1.24 0.95 0.84 0.96 0.81 1.31
Current Deferred & Refundable Income Taxes		 - - - - - - - 0.00 1.90
Other Current Assets		 0.23 - - - - - 0.29 0.93 1.09
Plant, Property, & Equipment, net		 1.69 2.78 1.85 2.11 2.11 1.50 0.80 0.47 0.24
Total Noncurrent Assets		 0.20 1.97 8.73 9.90 13 13 9.28 6.58 4.99
Other Noncurrent Operating Assets		 0.20 1.97 8.73 9.90 13 13 9.28 6.58 4.99
Total Liabilities & Shareholders' Equity		 67 45 72 100 83 91 62 32 42
Total Liabilities		 5.35 11 17 21 18 26 24 15 16
Total Current Liabilities		 5.35 6.22 12 16 13 12 17 14 13
Short-Term Debt		 - - - - 0.00 1.96 3.96 4.33 0.00
Accounts Payable		 1.66 2.04 0.88 2.07 2.59 2.73 3.50 2.82 3.95
Accrued Expenses		 1.15 1.79 2.23 2.79 4.62 3.55 4.14 2.91 1.61
Other Current Liabilities		 2.50 2.01 8.55 11 5.58 3.30 5.48 3.63 7.94
Total Noncurrent Liabilities		 0.00 5.17 5.37 4.31 5.12 14 7.36 1.00 2.29
Other Noncurrent Operating Liabilities		 0.00 5.17 5.37 4.31 5.12 6.02 3.16 1.00 2.29
Commitments & Contingencies		 - - - - 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 62 34 55 79 65 66 37 17 26
Total Preferred & Common Equity		 62 34 55 79 65 66 37 17 26
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 62 34 55 79 65 66 37 17 26
Common Stock		 94 106 163 232 263 316 338 359 395
Retained Earnings		 -33 -72 -109 -153 -197 -250 -301 -342 -368

Quarterly Balance Sheets for Cue Biopharma

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

Metric Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 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		 73 69 54 42 45 22 41 32
Total Current Assets		 61 58 45 34 37 16 31 26
Cash & Equivalents		 53 55 41 30 32 13 27 12
Short-Term Investments		 4.99 0.00 0.00 0.00 0.00 - - 6.97
Accounts Receivable		 1.14 1.66 1.40 1.85 3.15 0.00 0.53 0.39
Prepaid Expenses		 1.91 1.17 2.24 2.02 1.68 1.88 2.35 3.11
Current Deferred & Refundable Income Taxes		 - - - - - - - 1.90
Other Current Assets		 - - - - - 0.91 0.47 1.75
Plant, Property, & Equipment, net		 1.19 1.06 0.75 0.67 0.57 0.52 0.45 0.31
Total Noncurrent Assets		 11 10 8.53 7.76 6.98 5.80 9.41 5.52
Other Noncurrent Operating Assets		 11 10 8.53 7.76 6.98 5.80 7.51 5.52
Total Liabilities & Shareholders' Equity		 73 69 54 42 45 22 41 32
Total Liabilities		 27 26 24 21 19 16 23 18
Total Current Liabilities		 16 17 18 16 17 15 19 16
Short-Term Debt		 3.96 3.96 3.96 3.96 3.96 3.37 2.42 1.46
Accounts Payable		 2.36 2.48 3.92 3.91 6.47 3.78 3.63 2.35
Accrued Expenses		 4.08 5.13 5.21 4.56 3.20 4.23 1.52 1.87
Other Current Liabilities		 5.91 5.64 5.00 4.03 3.15 4.11 12 9.85
Total Noncurrent Liabilities		 11 9.02 5.82 4.25 2.65 0.18 3.29 2.87
Long-Term Debt		 6.12 5.16 3.24 2.29 1.33 - 0.19 0.19
Other Noncurrent Operating Liabilities		 4.73 3.86 2.58 1.96 1.33 0.18 3.10 2.68
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 46 43 30 22 25 6.58 18 13
Total Preferred & Common Equity		 46 43 30 22 25 6.58 18 13
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 46 43 30 22 25 6.58 18 13
Common Stock		 323 330 344 345 358 361 381 383
Retained Earnings		 -277 -288 -314 -324 -332 -354 -363 -370
Accumulated Other Comprehensive Income / (Loss)		 -0.01 0.00 0.00 0.00 0.00 0.00 - 0.00

Annual Metrics And Ratios for Cue Biopharma

This table displays calculated financial ratios and metrics derived from Cue Biopharma's official financial filings.

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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
DEI Shares Outstanding		 0.00 20,133,266.00 22,994,143.00 30,278,366.00 31,760,946.00 35,385,582.00 45,123,281.00 - 78,737,736.00
DEI Adjusted Shares Outstanding		 0.00 20,133,266.00 22,994,143.00 30,278,366.00 31,760,946.00 35,385,582.00 45,123,281.00 - 78,737,736.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 -1.94 -1.60 -3.06 -1.39 -1.50 -1.12 - -0.34
Growth Metrics		 - - - - - - - - -
Profitability Metrics		 - - - - - - - - -
Net Operating Profit after Tax (NOPAT)		 -16 -27 -26 -32 -31 -37 -37 -29 -19
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - -80.67% -133.06% -70.32%
Earnings before Interest and Taxes (EBIT)		 -23 -39 -37 -45 -44 -53 -52 -42 -27
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -23 -38 -36 -43 -39 -53 -52 -41 -26
Valuation Ratios		 - - - - - - - - -
Leverage & Solvency		 - - - - - - - - -
Liquidity Ratios		 - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -24 -26 -30 -38 -36 -34 -32 -19
Efficiency Ratios		 - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - -
Invested Capital		 -1.98 -5.29 -4.83 -5.96 1.12 -0.61 -3.26 -0.63 -0.70
Increase / (Decrease) in Invested Capital		 0.00 -3.31 0.47 -1.13 7.08 -1.73 -2.66 2.64 -0.08
Book Value per Share		 $5.74 $1.69 $2.37 $2.61 $2.06 $1.86 $0.82 $0.28 $0.34
Tangible Book Value per Share		 $5.74 $1.69 $2.37 $2.61 $2.06 $1.86 $0.82 $0.28 $0.34
Total Capital		 62 34 55 79 65 76 45 22 26
Total Debt		 0.00 0.00 0.00 0.00 0.00 10.00 8.17 4.33 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 8.04 4.20 0.00 0.00
Net Debt		 -64 -39 -59 -85 -64 -66 -40 -18 -27
Capital Expenditures (CapEx)		 1.03 1.85 -0.08 0.60 0.89 0.17 -0.00 -0.03 0.14
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -3.87 -4.87 -10 -14 -8.69 -8.69 -10 -6.68 -3.65
Debt-free Net Working Capital (DFNWC)		 60 34 49 71 56 68 38 16 23
Net Working Capital (NWC)		 60 34 49 71 56 66 34 11 23
Net Nonoperating Expense (NNE)		 6.97 12 11 13 14 16 14 12 8.02
Net Nonoperating Obligations (NNO)		 -64 -39 -59 -85 -64 -66 -40 -18 -27
Total Depreciation and Amortization (D&A)		 0.42 0.76 0.74 1.14 4.29 0.63 0.36 0.43 0.78
Earnings Adjustments		 - - - - - - - - -
Adjusted Basic Earnings per Share		 ($2.16) ($1.94) ($1.66) ($1.56) ($1.41) ($1.49) ($1.11) ($0.72) ($0.28)
Adjusted Weighted Average Basic Shares Outstanding		 10.73M 20.73M 26.58M 30.46M 33.01M 35.65M 45.75M 56.33M 94.73M
Adjusted Diluted Earnings per Share		 ($2.16) ($1.94) ($1.66) ($1.56) ($1.41) ($1.49) ($1.11) ($0.72) ($0.28)
Adjusted Weighted Average Diluted Shares Outstanding		 10.73M 20.73M 26.58M 30.46M 33.01M 35.65M 45.75M 56.33M 94.73M
Adjusted Basic & Diluted Earnings per Share		 ($2.16) ($1.94) ($1.66) ($1.56) ($1.41) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 10.73M 20.13M 22.04M 28.69M 31.29M 43.17M 48.64M 61.82M 97.66M
Normalized Net Operating Profit after Tax (NOPAT)		 -16 -27 -26 -32 -31 -37 -36 -29 -19
Debt Service Ratios		 - - - - - - - - -
Payout Ratios		 - - - - - - - - -

Quarterly Metrics And Ratios for Cue Biopharma

This table displays calculated financial ratios and metrics derived from Cue Biopharma's 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
DEI Shares Outstanding		 43,178,150.00 44,959,548.00 45,123,281.00 48,643,316.00 48,643,316.00 48,643,316.00 - 61,819,101.00 75,349,881.00 76,845,904.00 78,737,736.00
DEI Adjusted Shares Outstanding		 43,178,150.00 44,959,548.00 45,123,281.00 48,643,316.00 48,643,316.00 48,643,316.00 - 61,819,101.00 75,349,881.00 76,845,904.00 78,737,736.00
DEI Earnings Per Adjusted Shares Outstanding		 -0.31 -0.24 -0.30 -0.25 -0.21 -0.18 - -0.20 -0.11 -0.10 0.02
Growth Metrics		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Net Operating Profit after Tax (NOPAT)		 -9.46 -7.99 -9.68 -8.87 -7.27 -6.17 -6.74 -8.61 -6.04 -5.32 1.98
Return On Investment Capital (ROIC_SIMPLE)		 - - -21.40% -23.81% -26.08% -20.13% -30.89% -86.49% -29.11% -35.70% 7.48%
Earnings before Interest and Taxes (EBIT)		 -14 -11 -14 -13 -10 -8.82 -9.63 -12 -8.64 -7.60 1.98
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -13 -11 -14 -13 -10 -8.70 -9.53 -12 -8.53 -7.69 2.63
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -4.11 -3.55 -7.03 -6.23 -6.91 -7.31 -9.38 -9.21 -1.48 -3.30 2.05
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -1.80 -2.90 -3.26 -3.78 -2.16 -1.76 -0.63 -3.18 -6.73 -3.78 -0.70
Increase / (Decrease) in Invested Capital		 -5.35 -4.44 -2.66 -2.64 -0.35 1.14 2.64 0.60 -4.57 -2.02 -0.08
Book Value per Share		 $1.07 $0.95 $0.82 $0.62 $0.44 $0.52 $0.28 $0.10 $0.24 $0.17 $0.34
Tangible Book Value per Share		 $1.07 $0.95 $0.82 $0.62 $0.44 $0.52 $0.28 $0.10 $0.24 $0.17 $0.34
Total Capital		 56 52 45 37 28 31 22 9.95 21 15 26
Total Debt		 10 9.12 8.17 7.21 6.25 5.29 4.33 3.37 2.61 1.65 0.00
Total Long-Term Debt		 6.12 5.16 4.20 3.24 2.29 1.33 0.00 0.00 0.19 0.19 0.00
Net Debt		 -48 -46 -40 -34 -24 -27 -18 -9.76 -25 -17 -27
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.06 0.01 -0.00 0.00 0.15 0.03 0.00 -0.02
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -9.30 -10 -10 -10 -8.63 -7.99 -6.68 -9.33 -13 -6.92 -3.65
Debt-free Net Working Capital (DFNWC)		 49 44 38 31 21 24 16 3.81 14 12 23
Net Working Capital (NWC)		 45 40 34 27 17 20 11 0.43 12 10 23
Net Nonoperating Expense (NNE)		 3.72 3.01 3.75 3.48 2.90 2.49 2.75 3.65 2.44 2.13 0.39
Net Nonoperating Obligations (NNO)		 -48 -46 -40 -34 -24 -27 -18 -9.76 -25 -17 -27
Total Depreciation and Amortization (D&A)		 0.07 0.13 0.12 0.11 0.11 0.11 0.11 0.11 0.11 -0.09 0.66
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.29) ($0.24) ($0.29) ($0.25) ($0.20) ($0.17) ($0.10) ($0.17) ($0.09) ($0.07) $0.05
Adjusted Weighted Average Basic Shares Outstanding		 44.80M 46.36M 45.75M 49.47M 50.17M 51.23M 56.33M 74.25M 95.46M 100.87M 94.73M
Adjusted Diluted Earnings per Share		 ($0.29) ($0.24) ($0.29) ($0.25) ($0.20) ($0.17) ($0.10) ($0.17) ($0.09) ($0.07) $0.05
Adjusted Weighted Average Diluted Shares Outstanding		 44.80M 46.36M 45.75M 49.47M 50.17M 51.23M 56.33M 74.25M 95.46M 100.87M 94.73M
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		 44.96M 45.12M 48.64M 48.64M 48.64M 63.35M 61.82M 75.35M 76.85M 78.74M 97.66M
Normalized Net Operating Profit after Tax (NOPAT)		 -9.46 -7.99 -9.68 -8.87 -7.27 -6.24 -6.74 -8.61 -6.04 -5.28 1.37
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

Financials Breakdown Chart

Key Financial Trends

Cue Biopharma (NASDAQ: CUE) has shown a dramatic quarterly outlier in late 2025, with a large spike in revenue and a rare quarterly profit, after several quarters of losses and ongoing cash-burn. Below is a concise, investor-focused look at the last four years of quarterly data, highlighting notable trends across income statements, cash flow, and balance sheets.

  • Q4 2025 quarterly revenue surge: Operating revenue rose to 21.94 million, a substantial jump compared with prior 2024–2025 quarters, signaling a one-time or milestone-driven windfall that materially improved the quarter’s financials.
  • Q4 2025 net income attributable to common shareholders: Positive at 1.585 million, marking a rare quarterly profit after a series of annual losses in earlier quarters.
  • Q4 2025 earnings per share (EPS): Basic and diluted EPS both at 0.05, reflecting the quarterly profit and higher share count dynamics.
  • Q4 2025 financing activity providing liquidity: Net cash from financing activities was +9.492 million, supported by equity-related activity (issuance of common equity contributing to liquidity).
  • Q4 2025 equity issuance contribution: Issuance of common equity contributed about 10.24 million in cash, a meaningful liquidity event during the quarter.
  • Q4 2025 overall cash movement: Net change in cash and equivalents was +15.436 million, driven largely by financing and investing activities, improving near-term liquidity.
  • Revenue volatility across quarters: After the Q4 2025 spike, earlier 2025 quarters remained materially smaller (e.g., ~2–5 million range), indicating significant quarterly volatility rather than steady, recurring revenue.
  • R&D as a major ongoing expense: Research and development expenses remain a large expense line across quarters (e.g., several quarters with multi-million RD spend), reflecting the biotech focus and ongoing development costs rather than immediate profitability.
  • Persistent quarterly losses before Q4 2025: Q1 2025 (-12.26 million), Q2 2025 (-8.48 million), and Q3 2025 (-7.45 million) all show substantial net losses prior to the Q4 2025 swing to profit.
  • Operating cash flow typically negative: Net cash from continuing operating activities was negative in multiple quarters (e.g., Q4 2025: -1.08 million; Q3 2025: -9.02 million; Q2 2025: -3.41 million), indicating ongoing cash burn from operations despite occasional financing inflows.
  • Balance sheet equity erosion by 2025: Total equity declined from around 30 million in late 2024 to roughly 13.25 million by Q3 2025, reflecting accumulated deficits and negative retained earnings (retained earnings around -$362–$370 million in recent quarters). This highlights ongoing structural leverage challenges even as quarterly outcomes improve.
05/21/26 03:52 PM ETAI Generated. May Contain Errors.

Cue Biopharma Financials - Frequently Asked Questions

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

Cue Biopharma's net income appears to be on an upward trend, with a most recent value of -$26.60 million in 2025, rising from -$23.23 million in 2017. The previous period was -$40.67 million in 2024. See where experts think Cue Biopharma is headed by visiting Cue Biopharma's forecast page.

Cue Biopharma's total operating income in 2025 was -$26.55 million, based on the following breakdown:
  • Total Gross Profit: $27.47 million
  • Total Operating Expenses: $54.02 million

Over the last 8 years, Cue Biopharma's total revenue changed from $0.00 in 2017 to $27.47 million in 2025, a change of 2,746,600,000.0%.

Cue Biopharma's total liabilities were at $15.78 million at the end of 2025, a 7.4% increase from 2024, and a 195.1% increase since 2017.

In the past 8 years, Cue Biopharma's cash and equivalents has ranged from $20.80 million in 2018 to $74.87 million in 2020, and is currently $27.14 million as of their latest financial filing in 2025.

Over the last 8 years, Cue Biopharma's book value per share changed from 5.74 in 2017 to 0.34 in 2025, a change of -94.2%.


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Financial statements for NASDAQ:CUE last updated on 4/24/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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