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Cue Biopharma (CUE) Financials

Cue Biopharma logo
$26.74 +0.64 (+2.43%)
As of 10:29 AM Eastern
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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 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
-11 -13 -12 -10 -8.66 -9.50 -12 -8.48 -7.45 1.59 -5.18
Consolidated Net Income / (Loss)
-11 -13 -12 -10 -8.66 -9.50 -12 -8.48 -7.45 1.59 -5.18
Net Income / (Loss) Continuing Operations
-11 -13 -12 -10 -8.66 -9.50 -12 -8.48 -7.45 1.59 -5.18
Total Pre-Tax Income
-11 -13 -12 -10 -8.66 -9.50 -12 -8.48 -7.45 2.09 -5.18
Total Operating Income
-11 -14 -13 -10 -8.82 -9.63 -12 -8.64 -7.60 1.98 -5.35
Total Gross Profit
2.10 1.82 1.72 2.66 3.34 1.58 0.42 2.95 2.15 22 5.69
Total Revenue
2.10 1.82 1.72 2.66 3.34 1.58 0.42 2.95 2.15 22 5.69
Operating Revenue
2.10 1.82 1.72 2.66 3.34 1.58 0.42 2.95 2.15 22 5.69
Total Cost of Revenue
0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Operating Expenses
14 16 14 13 12 11 13 12 9.74 20 11
Selling, General & Admin Expense
3.65 4.61 4.19 3.51 2.87 4.02 4.17 3.68 4.94 3.45 4.15
Research & Development Expense
9.87 11 10 9.53 9.38 7.19 8.55 7.91 4.75 17 6.90
Total Other Income / (Expense), net
0.41 0.40 0.32 0.21 0.16 0.14 0.04 0.15 0.15 0.11 0.18
Interest Expense
0.29 0.36 0.24 0.22 0.19 0.15 0.13 0.05 0.08 0.11 0.00
Interest & Investment Income
0.70 0.76 0.56 0.43 0.34 0.29 0.17 0.20 0.22 0.22 0.18
Basic Earnings per Share
($0.24) ($0.29) ($0.25) ($0.20) ($0.17) ($0.10) ($4.95) ($0.09) ($0.07) $0.05 ($1.08)
Weighted Average Basic Shares Outstanding
46.36M 45.75M 49.47M 50.17M 51.23M 56.33M 2.48M 95.46M 100.87M 94.73M 4.81M
Diluted Earnings per Share
($0.24) ($0.29) ($0.25) ($0.20) ($0.17) ($0.10) ($4.95) ($0.09) ($0.07) $0.05 ($1.08)
Weighted Average Diluted Shares Outstanding
46.36M 45.75M 49.47M 50.17M 51.23M 56.33M 2.48M 95.46M 100.87M 94.73M 4.81M
Weighted Average Basic & Diluted Shares Outstanding
45.12M 48.64M 48.64M 48.64M 63.35M 61.82M 75.35M 76.85M 78.74M 97.66M 4.05M

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 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
1.79 -6.18 -7.49 -11 2.39 -9.96 -9.32 14 -16 15 -11
Net Cash From Operating Activities
-7.80 -11 -9.78 -9.99 -7.53 -9.03 -8.17 -3.42 -9.02 -1.08 -11
Net Cash From Continuing Operating Activities
-7.80 -11 -9.78 -9.99 -7.53 -9.03 -8.17 -3.42 -9.02 -1.08 -11
Net Income / (Loss) Continuing Operations
-11 -13 -12 -10 -8.66 -9.50 -12 -8.48 -7.45 1.59 -5.18
Consolidated Net Income / (Loss)
-11 -13 -12 -10 -8.66 -9.50 -12 -8.48 -7.45 1.59 -5.18
Depreciation Expense
0.13 0.11 0.10 0.10 0.10 0.10 0.10 0.10 0.08 0.68 0.57
Amortization Expense
-0.00 0.01 0.01 0.01 0.01 0.01 0.01 0.01 -0.17 -0.02 0.00
Non-Cash Adjustments To Reconcile Net Income
2.25 2.88 2.41 1.74 1.58 1.09 2.07 12 -0.09 -0.21 -4.87
Changes in Operating Assets and Liabilities, net
0.83 -0.52 0.05 -1.66 -0.56 -0.73 1.91 -7.07 -1.40 -3.11 -1.46
Net Cash From Investing Activities
5.00 - -0.06 -0.01 0.10 -0.00 -0.15 -0.03 -6.77 7.02 -0.12
Net Cash From Continuing Investing Activities
5.00 - -0.06 -0.01 0.10 -0.00 -0.15 -0.03 -6.77 7.02 -0.12
Purchase of Property, Plant & Equipment
- - -0.06 -0.01 0.00 -0.00 -0.15 -0.03 - - -0.12
Net Cash From Financing Activities
4.59 4.78 2.35 -1.00 9.82 -0.93 -1.00 18 0.00 9.49 0.31
Net Cash From Continuing Financing Activities
4.59 4.78 2.35 -1.00 9.82 -0.93 -1.00 18 0.00 9.49 0.31
Repayment of Debt
-1.00 -1.00 -1.00 -1.00 -1.00 -1.00 -1.00 -1.00 -1.00 -1.50 0.00
Other Financing Activities, net
5.59 5.78 3.35 - - 0.06 0.00 0.75 1.00 0.75 0.31
Cash Interest Paid
0.26 0.24 0.21 0.18 0.16 0.12 0.09 0.07 0.04 0.02 0.00

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
Short-Term Investments
0.00 18 15 10 0.00 25 0.00 - 0.00
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
Accumulated Other Comprehensive Income / (Loss)
0.00 -0.01 -0.01 0.01 0.00 -0.10 0.00 - 0.00

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 Q1 2026
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 3/31/2026
Total Assets
73 69 54 42 45 22 41 32 31
Total Current Assets
61 58 45 34 37 16 31 26 26
Cash & Equivalents
53 55 41 30 32 13 27 12 16
Short-Term Investments
4.99 0.00 0.00 0.00 0.00 - - 6.97 0.00
Accounts Receivable
1.14 1.66 1.40 1.85 3.15 0.00 0.53 0.39 5.35
Prepaid Expenses
1.91 1.17 2.24 2.02 1.68 1.88 2.35 3.11 1.70
Current Deferred & Refundable Income Taxes
- - - - - - - 1.90 1.90
Other Current Assets
- - - - - 0.91 0.47 1.75 1.06
Plant, Property, & Equipment, net
1.19 1.06 0.75 0.67 0.57 0.52 0.45 0.31 0.29
Total Noncurrent Assets
11 10 8.53 7.76 6.98 5.80 9.41 5.52 4.20
Other Noncurrent Operating Assets
11 10 8.53 7.76 6.98 5.80 7.51 5.52 4.20
Total Liabilities & Shareholders' Equity
73 69 54 42 45 22 41 32 31
Total Liabilities
27 26 24 21 19 16 23 18 9.27
Total Current Liabilities
16 17 18 16 17 15 19 16 7.39
Short-Term Debt
3.96 3.96 3.96 3.96 3.96 3.37 2.42 1.46 0.00
Accounts Payable
2.36 2.48 3.92 3.91 6.47 3.78 3.63 2.35 3.33
Accrued Expenses
4.08 5.13 5.21 4.56 3.20 4.23 1.52 1.87 1.50
Other Current Liabilities
5.91 5.64 5.00 4.03 3.15 4.11 12 9.85 2.57
Total Noncurrent Liabilities
11 9.02 5.82 4.25 2.65 0.18 3.29 2.87 1.88
Other Noncurrent Operating Liabilities
4.73 3.86 2.58 1.96 1.33 0.18 3.10 2.68 1.88
Commitments & Contingencies
0.00 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 22
Total Preferred & Common Equity
46 43 30 22 25 6.58 18 13 22
Preferred Stock
0.00 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 22
Common Stock
323 330 344 345 358 361 381 383 395
Retained Earnings
-277 -288 -314 -324 -332 -354 -363 -370 -374
Accumulated Other Comprehensive Income / (Loss)
-0.01 0.00 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 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
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 97,660,791.00
DEI Adjusted Shares Outstanding
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 3,255,360.00
DEI Earnings Per Adjusted Shares Outstanding
-0.24 -0.30 -0.25 -0.21 -0.18 - -0.20 -0.11 -0.10 0.02 -1.59
Growth Metrics
- - - - - - - - - - -
Revenue Growth
2,988.24% 1,105.96% 818.18% 92.33% 58.86% -13.45% -75.48% 11.14% -35.58% - 1,250.59%
EBITDA Growth
-3.38% 7.81% 5.87% 23.58% 22.91% 30.52% 2.95% 17.01% 11.68% - 60.73%
EBIT Growth
-3.52% 6.95% 5.32% 23.19% 22.80% 30.35% 2.91% 16.84% 13.84% - 56.48%
NOPAT Growth
-3.52% 6.95% 5.32% 23.19% 22.80% 30.35% 2.91% 16.84% 13.84% - 56.48%
Net Income Growth
-0.46% 7.94% 5.81% 22.86% 21.31% 29.31% 0.73% 16.61% 14.00% - 57.75%
EPS Growth
22.58% 21.62% 13.79% 31.03% 29.17% 65.52% 32.00% 55.00% 58.82% - 57.75%
Operating Cash Flow Growth
-13.51% -4.22% 9.68% 3.67% 3.49% 17.61% 16.48% 65.82% -19.89% - -33.90%
Free Cash Flow Firm Growth
73.42% 18.99% -285.01% -68.03% -105.65% -33.48% -47.96% 78.66% 54.83% - -31.99%
Invested Capital Growth
-288.81% -435.96% -231.35% -19.62% 39.25% 80.79% 15.91% -211.72% -114.29% - 264.33%
Revenue Q/Q Growth
51.95% -13.29% -5.71% 54.80% 25.51% -52.76% -73.29% 601.66% -27.25% - -74.09%
EBITDA Q/Q Growth
16.02% -21.43% 8.39% 18.19% 15.29% -9.45% -27.95% 30.04% 9.85% - -281.74%
EBIT Q/Q Growth
15.52% -21.14% 8.42% 18.04% 15.10% -9.29% -27.66% 29.79% 12.04% - -370.76%
NOPAT Q/Q Growth
15.52% -21.14% 8.42% 18.04% 15.10% -9.29% -27.66% 29.79% 12.04% - -289.53%
Net Income Q/Q Growth
16.53% -22.07% 8.09% 17.62% 14.86% -9.65% -29.08% 30.80% 12.19% - -426.69%
EPS Q/Q Growth
17.24% -20.83% 13.79% 20.00% 15.00% 41.18% -70.00% 47.06% 22.22% - -426.69%
Operating Cash Flow Q/Q Growth
24.80% -40.51% 10.71% -2.11% 24.65% -19.94% 9.48% 58.21% -164.25% - -916.91%
Free Cash Flow Firm Q/Q Growth
13.62% -97.74% 11.42% -11.06% -5.72% -28.34% 1.81% 83.98% -123.75% - -691.92%
Invested Capital Q/Q Growth
-60.86% -12.47% -15.93% 42.97% 18.30% 64.44% -407.50% -111.41% 43.84% - 842.76%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% - 100.00%
EBITDA Margin
-537.68% -752.92% -731.51% -386.57% -260.91% -604.49% -2,895.25% -288.66% -357.70% - -84.19%
Operating Margin
-543.76% -759.64% -737.80% -390.63% -264.24% -611.29% -2,921.38% -292.32% -353.42% - -94.14%
EBIT Margin
-543.76% -759.64% -737.80% -390.63% -264.24% -611.29% -2,921.38% -292.32% -353.42% - -94.14%
Profit (Net Income) Margin
-524.05% -737.73% -719.10% -382.66% -259.59% -602.54% -2,911.40% -287.14% -346.58% - -91.07%
Tax Burden Percent
100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% - 100.00%
Interest Burden Percent
96.37% 97.12% 97.47% 97.96% 98.24% 98.57% 99.66% 98.23% 98.06% - 96.73%
Effective Tax Rate
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% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - -2,107.46%
ROIC Less NNEP Spread (ROIC-NNEP)
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - -2,096.51%
Return on Net Nonoperating Assets (RNNOA)
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 1,944.27%
Return on Equity (ROE)
-111.08% -98.73% -117.50% -138.87% -131.15% -149.03% -221.66% -195.55% -195.19% - -163.20%
Cash Return on Invested Capital (CROIC)
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - -423.32%
Operating Return on Assets (OROA)
-28.61% -54.58% -76.37% -56.12% -44.31% -121.15% -612.68% -58.35% -65.64% - -115.99%
Return on Assets (ROA)
-27.58% -53.01% -74.44% -54.97% -43.53% -119.41% -610.59% -57.31% -64.37% - -112.20%
Return on Common Equity (ROCE)
-111.08% -98.73% -117.50% -138.87% -131.15% -149.03% -221.66% -195.55% -195.19% - -163.20%
Return on Equity Simple (ROE_SIMPLE)
-121.62% 0.00% -166.36% 0.00% 0.00% 0.00% -616.78% 0.00% 0.00% - 0.00%
Net Operating Profit after Tax (NOPAT)
-7.99 -9.68 -8.87 -7.27 -6.17 -6.74 -8.61 -6.04 -5.32 1.98 -3.75
NOPAT Margin
-380.63% -531.75% -516.46% -273.44% -184.97% -427.91% -2,044.96% -204.62% -247.39% - -65.90%
Net Nonoperating Expense Percent (NNEP)
-6.35% -7.03% -7.73% -8.11% -6.85% -9.41% -16.74% -10.02% -9.66% - -10.95%
Return On Investment Capital (ROIC_SIMPLE)
- -21.40% -23.81% -26.08% -20.13% -30.89% -86.49% -29.11% -35.70% 7.48% -17.34%
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%
SG&A Expenses to Revenue
173.57% 253.16% 243.80% 132.09% 85.94% 255.14% 991.21% 124.54% 229.83% - 73.02%
R&D to Revenue
470.19% 597.86% 594.00% 358.54% 281.21% 455.90% 2,030.17% 267.77% 221.22% - 121.30%
Operating Expenses to Revenue
643.76% 859.64% 837.80% 490.63% 364.24% 711.29% 3,021.38% 392.32% 453.42% - 194.32%
Earnings before Interest and Taxes (EBIT)
-11 -14 -13 -10 -8.82 -9.63 -12 -8.64 -7.60 1.98 -5.35
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
-11 -14 -13 -10 -8.70 -9.53 -12 -8.53 -7.69 2.63 -4.79
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
2.42 3.21 3.06 2.79 1.45 3.95 8.56 2.83 4.17 - 1.04
Price to Tangible Book Value (P/TBV)
2.42 3.21 3.06 2.79 1.45 3.95 8.56 2.83 4.17 - 1.04
Price to Revenue (P/Rev)
27.07 21.70 13.10 7.27 3.86 7.44 7.05 6.20 7.78 - 0.69
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
Dividend Yield
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%
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 - 1.16
Enterprise Value to Revenue (EV/Rev)
15.14 14.35 8.28 4.40 1.02 5.48 5.83 3.20 5.38 - 0.19
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
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
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
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
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
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
0.21 0.22 0.24 0.29 0.21 0.25 0.51 0.14 0.12 - 0.00
Long-Term Debt to Equity
0.12 0.11 0.11 0.11 0.05 0.00 0.00 0.01 0.01 - 0.00
Financial Leverage
-1.01 -1.04 -1.06 -1.06 -1.07 -1.07 -1.19 -1.22 -1.14 - -0.93
Leverage Ratio
1.55 1.49 1.59 1.71 1.67 1.72 2.08 2.09 1.98 - 1.88
Compound Leverage Factor
1.50 1.44 1.55 1.67 1.64 1.69 2.07 2.05 1.94 - 1.82
Debt to Total Capital
17.62% 18.04% 19.35% 22.42% 17.26% 19.85% 33.90% 12.55% 11.06% - 0.00%
Short-Term Debt to Total Capital
7.65% 8.76% 10.64% 14.22% 12.93% 19.85% 33.90% 11.64% 9.79% - 0.00%
Long-Term Debt to Total Capital
9.96% 9.29% 8.71% 8.20% 4.33% 0.00% 0.00% 0.92% 1.28% - 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%
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%
Common Equity to Total Capital
82.38% 81.96% 80.65% 77.58% 82.74% 80.15% 66.10% 87.45% 88.94% - 100.00%
Debt to EBITDA
-0.17 -0.16 -0.14 -0.13 -0.12 -0.11 -0.08 -0.07 -0.04 - 0.00
Net Debt to EBITDA
0.86 0.78 0.66 0.50 0.60 0.44 0.24 0.64 0.45 - 0.00
Long-Term Debt to EBITDA
-0.10 -0.08 -0.06 -0.05 -0.03 0.00 0.00 0.00 -0.01 - 0.00
Debt to NOPAT
-0.25 -0.22 -0.20 -0.18 -0.17 -0.15 -0.12 -0.09 -0.06 - 0.00
Net Debt to NOPAT
1.22 1.11 0.94 0.70 0.85 0.62 0.34 0.90 0.64 - 0.00
Long-Term Debt to NOPAT
-0.14 -0.12 -0.09 -0.07 -0.04 0.00 0.00 -0.01 -0.01 - 0.00
Altman Z-Score
-3.27 -3.91 -5.88 -9.08 -9.14 -12.32 -21.56 -11.26 -14.75 - -14.26
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
3.34 3.01 2.47 2.06 2.22 1.84 1.03 1.60 1.66 - 3.57
Quick Ratio
3.27 2.94 2.35 1.94 2.12 1.71 0.85 1.46 1.23 - 2.94
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
-3.55 -7.03 -6.23 -6.91 -7.31 -9.38 -9.21 -1.48 -3.30 2.05 -12
Operating Cash Flow to CapEx
0.00% 0.00% -17,789.09% -99,900.00% 0.00% -902,800.00% -5,448.00% -12,648.15% 0.00% - -9,042.98%
Free Cash Flow to Firm to Interest Expense
-12.43 -19.69 -25.83 -32.16 -38.88 -61.72 -71.96 -32.79 -44.02 - -3,039.53
Operating Cash Flow to Interest Expense
-27.27 -30.69 -40.60 -46.47 -40.04 -59.39 -63.84 -75.89 -120.32 - -2,735.50
Operating Cash Flow Less CapEx to Interest Expense
-27.27 -30.69 -40.83 -46.51 -40.03 -59.40 -65.02 -76.49 -120.32 - -2,765.75
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.05 0.07 0.10 0.14 0.17 0.20 0.21 0.20 0.19 - 1.23
Accounts Receivable Turnover
3.11 6.26 8.80 5.56 3.96 7.03 0.00 6.97 4.01 - 0.00
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Fixed Asset Turnover
2.82 4.79 6.75 8.93 11.67 14.67 12.52 14.79 16.19 - 80.72
Accounts Payable Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Days Sales Outstanding (DSO)
117.38 58.34 41.49 65.60 92.15 51.94 0.00 52.39 90.97 - 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
Days Payable Outstanding (DPO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Cash Conversion Cycle (CCC)
117.38 58.34 41.49 65.60 92.15 51.94 0.00 52.39 90.97 - 0.00
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
-2.90 -3.26 -3.78 -2.16 -1.76 -0.63 -3.18 -6.73 -3.78 -0.70 5.23
Invested Capital Turnover
-5.60 -2.84 -2.85 -4.19 -4.09 -4.77 -2.29 -1.87 -2.56 - 31.98
Increase / (Decrease) in Invested Capital
-4.44 -2.66 -2.64 -0.35 1.14 2.64 0.60 -4.57 -2.02 -0.08 8.41
Enterprise Value (EV)
58 79 58 37 9.70 51 47 27 38 - 6.07
Market Capitalization
103 119 92 60 37 69 56 51 55 - 22
Book Value per Share
$0.95 $0.82 $0.62 $0.44 $0.52 $0.28 $0.10 $0.24 $0.17 $0.34 $0.22
Tangible Book Value per Share
$0.95 $0.82 $0.62 $0.44 $0.52 $0.28 $0.10 $0.24 $0.17 $0.34 $0.22
Total Capital
52 45 37 28 31 22 9.95 21 15 26 22
Total Debt
9.12 8.17 7.21 6.25 5.29 4.33 3.37 2.61 1.65 0.00 0.00
Total Long-Term Debt
5.16 4.20 3.24 2.29 1.33 0.00 0.00 0.19 0.19 0.00 0.00
Net Debt
-46 -40 -34 -24 -27 -18 -9.76 -25 -17 -27 -16
Capital Expenditures (CapEx)
0.00 0.00 0.06 0.01 -0.00 0.00 0.15 0.03 0.00 -0.02 0.12
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-10 -10 -10 -8.63 -7.99 -6.68 -9.33 -13 -6.92 -3.65 2.62
Debt-free Net Working Capital (DFNWC)
44 38 31 21 24 16 3.81 14 12 23 19
Net Working Capital (NWC)
40 34 27 17 20 11 0.43 12 10 23 19
Net Nonoperating Expense (NNE)
3.01 3.75 3.48 2.90 2.49 2.75 3.65 2.44 2.13 0.39 1.43
Net Nonoperating Obligations (NNO)
-46 -40 -34 -24 -27 -18 -9.76 -25 -17 -27 -16
Total Depreciation and Amortization (D&A)
0.13 0.12 0.11 0.11 0.11 0.11 0.11 0.11 -0.09 0.66 0.57
Debt-free, Cash-free Net Working Capital to Revenue
-272.72% -185.39% -149.39% -103.97% -83.83% -71.90% -116.74% -162.74% -97.45% - 8.01%
Debt-free Net Working Capital to Revenue
1,158.98% 698.29% 435.07% 258.00% 256.28% 169.94% 47.64% 169.01% 165.54% - 58.05%
Net Working Capital to Revenue
1,055.24% 626.10% 378.62% 210.23% 214.71% 123.28% 5.42% 139.86% 145.00% - 58.05%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
($0.24) ($0.29) ($0.25) ($0.20) ($0.17) ($0.10) ($0.17) ($0.09) ($0.07) $0.05 ($1.08)
Adjusted Weighted Average Basic Shares Outstanding
46.36M 45.75M 49.47M 50.17M 51.23M 56.33M 74.25M 95.46M 100.87M 94.73M 4.81M
Adjusted Diluted Earnings per Share
($0.24) ($0.29) ($0.25) ($0.20) ($0.17) ($0.10) ($0.17) ($0.09) ($0.07) $0.05 ($1.08)
Adjusted Weighted Average Diluted Shares Outstanding
46.36M 45.75M 49.47M 50.17M 51.23M 56.33M 74.25M 95.46M 100.87M 94.73M 4.81M
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
45.12M 48.64M 48.64M 48.64M 63.35M 61.82M 75.35M 76.85M 78.74M 97.66M 4.05M
Normalized Net Operating Profit after Tax (NOPAT)
-7.99 -9.68 -8.87 -7.27 -6.24 -6.74 -8.61 -6.04 -5.28 1.37 -3.75
Normalized NOPAT Margin
-380.63% -531.75% -516.46% -273.44% -187.00% -427.91% -2,044.96% -204.62% -245.73% - -65.90%
Pre Tax Income Margin
-524.05% -737.73% -719.10% -382.66% -259.59% -602.54% -2,911.40% -287.14% -346.58% - -91.07%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
-39.93 -38.75 -52.56 -48.29 -46.89 -63.38 -96.09 -191.89 -101.27 - -1,338.25
NOPAT to Interest Expense
-27.95 -27.12 -36.80 -33.81 -32.82 -44.37 -67.26 -134.32 -70.89 - -936.78
EBIT Less CapEx to Interest Expense
-39.93 -38.75 -52.79 -48.34 -46.88 -63.39 -97.26 -192.49 -101.27 - -1,368.50
NOPAT Less CapEx to Interest Expense
-27.95 -27.12 -37.02 -33.85 -32.82 -44.37 -68.43 -134.92 -70.89 - -967.03
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%
Augmented Payout Ratio
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

Cue Biopharma’s latest quarter showed some improvement in revenue and cash, but the company remains deeply unprofitable and heavily dependent on financing activity. In Q1 2026, revenue rose sharply year over year, while the balance sheet still reflected a sizable cash cushion. However, operating losses and cash burn remain the biggest issues for investors to watch.

  • Q1 2026 revenue increased to $5.7 million from $421,000 in Q1 2025, a meaningful year-over-year jump.
  • The company ended Q1 2026 with $16.4 million in cash and equivalents, giving it liquidity to continue operations in the near term.
  • Total current assets of $26.4 million were well above current liabilities of $7.4 million, indicating a decent short-term liquidity position.
  • Q4 2025 showed a rare profit of $1.6 million in net income, suggesting the business can generate earnings in certain quarters, likely helped by revenue and non-operating items.
  • The company has no short-term debt on the Q1 2026 balance sheet, which reduces immediate refinancing pressure.
  • Revenue has been volatile quarter to quarter, moving from $1.6 million in Q4 2024 to $2.1 million in Q3 2025, then to $21.9 million in Q4 2025 and $5.7 million in Q1 2026.
  • Weighted average shares outstanding have changed significantly over the last year, reflecting dilution and/or capital raises that investors should factor into per-share results.
  • The company’s equity base remains supported by large additional paid-in capital/common stock balances, which is typical for a development-stage biotech company.
  • Q1 2026 net loss was $5.2 million, showing the company is still not profitable on a recurring basis.
  • Operating losses remain substantial, with Q1 2026 operating income at negative $5.4 million.
  • Cash from operations in Q1 2026 was negative $10.9 million, indicating continued heavy cash burn from the core business.
  • Cash and equivalents fell from $32.4 million in Q3 2024 to $16.4 million in Q1 2026, showing a long-term decline in cash resources despite some financing activity along the way.
  • The company has repeatedly relied on financing and equity issuance to support liquidity, which can dilute existing shareholders.

Bottom line: Cue Biopharma’s latest quarter showed real revenue improvement and adequate near-term liquidity, but the company still burns cash and posts operating losses. For retail investors, the key question is whether revenue growth can become more consistent before liquidity starts to tighten again.

08/11/26 10:29 AM 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. View Cue Biopharma's forecast to see where analysts expect Cue Biopharma to go next.

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%.



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