Janux Therapeutics (JANX) Financials

$26.83 -0.08 (-0.30%)

Closing price 10/21/2025 04:00 PM Eastern

Extended Trading

$26.82 -0.01 (-0.04%)

As of 10/21/2025 05:28 PM Eastern

Annual Income Statements for Janux Therapeutics

This table shows Janux 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
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-8.73	-33	-63	-58	-69
Consolidated Net Income / (Loss)	-6.78	-33	-63	-58	-69
Net Income / (Loss) Continuing Operations	-8.73	-33	-63	-58	-69
Total Pre-Tax Income	-8.73	-33	-63	-58	-69
Total Operating Income	-4.84	-33	-67	-73	-99
Total Gross Profit	0.00	3.64	8.61	8.08	11
Total Revenue	0.00	3.64	8.61	8.08	11
Operating Revenue	0.00	3.64	8.61	8.08	11
Total Cost of Revenue	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	4.84	37	76	81	109
Selling, General & Admin Expense	1.80	10	22	26	41
Research & Development Expense	3.04	26	53	55	68
Total Other Income / (Expense), net	-3.88	0.26	4.03	15	30
Interest & Investment Income	0.00	0.26	4.03	15	30
Basic Earnings per Share	($7.41)	($1.39)	($1.52)	($1.32)	($1.28)
Weighted Average Basic Shares Outstanding	915.15K	23.53M	41.47M	44.02M	53.75M
Diluted Earnings per Share	($7.41)	($1.39)	($1.52)	($1.32)	($1.28)
Weighted Average Diluted Shares Outstanding	915.15K	23.53M	41.47M	44.02M	53.75M
Weighted Average Basic & Diluted Shares Outstanding	915.15K	23.53M	41.83M	51.66M	59.11M

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

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-17	-16	-17	-18	-12	-12	-15	-5.96	-28	-20	-24
Consolidated Net Income / (Loss)	-17	-16	-17	-18	-12	-12	-15	-5.96	-28	-20	-24
Net Income / (Loss) Continuing Operations	-17	-16	-17	-18	-12	-12	-15	-5.96	-28	-20	-24
Total Pre-Tax Income	-17	-16	-17	-18	-12	-12	-15	-5.96	-28	-20	-24
Total Operating Income	-18	-18	-20	-21	-16	-16	-20	-14	-36	-29	-35
Total Gross Profit	1.81	2.85	2.05	1.06	2.52	2.46	1.25	8.90	0.44	-	0.00
Total Revenue	1.81	2.85	2.05	1.06	2.52	2.46	1.25	8.90	0.44	-	0.00
Operating Revenue	1.81	2.85	2.05	1.06	2.52	2.46	1.25	8.90	0.44	-	0.00
Total Cost of Revenue	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Operating Expenses	20	21	22	22	18	19	21	23	36	29	35
Selling, General & Admin Expense	6.10	5.68	6.46	6.88	6.44	6.36	7.34	7.82	18	8.22	9.84
Research & Development Expense	14	15	16	15	12	12	14	15	19	21	25
Total Other Income / (Expense), net	1.33	2.07	2.82	3.24	4.25	4.38	5.40	7.86	7.78	8.81	11
Interest & Investment Income	1.33	2.20	2.82	3.24	4.25	4.38	5.40	7.86	7.78	8.81	11
Basic Earnings per Share	($0.40)	($0.39)	($0.42)	($0.42)	($0.25)	($0.23)	($0.30)	($0.11)	($0.51)	($0.36)	($0.38)
Weighted Average Basic Shares Outstanding	41.53M	41.47M	41.76M	41.84M	45.71M	44.02M	49.05M	54.45M	54.63M	53.75M	61.79M
Diluted Earnings per Share	($0.40)	($0.39)	($0.42)	($0.42)	($0.25)	($0.23)	($0.30)	($0.11)	($0.51)	($0.36)	($0.38)
Weighted Average Diluted Shares Outstanding	41.53M	41.47M	41.76M	41.84M	45.71M	44.02M	49.05M	54.45M	54.63M	53.75M	61.79M
Weighted Average Basic & Diluted Shares Outstanding	41.66M	41.83M	41.83M	46.14M	46.17M	51.66M	51.85M	52.16M	52.48M	59.11M	59.18M

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

Metric	2020	2021	2022	2023	2024
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	7.16	29	16	-32	411
Net Cash From Operating Activities	-4.37	-17	-43	-51	-44
Net Cash From Continuing Operating Activities	-4.37	-17	-43	-51	-44
Net Income / (Loss) Continuing Operations	-6.78	-33	-63	-58	-69
Consolidated Net Income / (Loss)	-6.78	-33	-63	-58	-69
Depreciation Expense	0.01	0.11	0.84	1.96	2.06
Amortization Expense	0.00	-0.17	-2.18	-7.69	-11
Non-Cash Adjustments To Reconcile Net Income	2.01	6.91	17	20	33
Changes in Operating Assets and Liabilities, net	0.39	8.84	4.28	-6.55	0.69
Net Cash From Investing Activities	0.00	-341	58	-41	-258
Net Cash From Continuing Investing Activities	0.00	-341	58	-41	-258
Purchase of Property, Plant & Equipment	0.00	-1.48	-6.45	-1.85	-0.36
Purchase of Investments	0.00	-474	-294	-317	-471
Sale and/or Maturity of Investments	0.00	134	359	278	213
Net Cash From Financing Activities	12	387	0.50	60	713
Net Cash From Continuing Financing Activities	12	387	0.50	60	713
Issuance of Common Equity	0.00	204	0.00	57	698
Other Financing Activities, net	0.07	1.81	0.50	3.02	15

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

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	6.35	-13	-21	3.35	-17	2.05	194	-198	12	404	-357
Net Cash From Operating Activities	-13	-12	-14	-15	-12	-9.90	-15	-10	-2.23	-17	-17
Net Cash From Continuing Operating Activities	-13	-12	-14	-15	-12	-9.90	-15	-10	-2.23	-17	-17
Net Income / (Loss) Continuing Operations	-17	-16	-17	-18	-12	-12	-15	-5.96	-28	-20	-24
Consolidated Net Income / (Loss)	-17	-16	-17	-18	-12	-12	-15	-5.96	-28	-20	-24
Depreciation Expense	0.25	0.40	0.45	0.47	0.50	0.53	0.53	0.51	0.51	0.51	0.52
Amortization Expense	-0.77	-1.29	-1.68	-1.84	-2.11	-2.06	-1.79	-2.97	-2.90	-2.93	-4.22
Non-Cash Adjustments To Reconcile Net Income	4.60	4.21	5.47	5.50	4.55	4.48	5.63	5.76	15	6.25	11
Changes in Operating Assets and Liabilities, net	-0.80	0.84	-0.70	-1.68	-3.08	-1.10	-4.45	-7.35	13	-0.35	-0.52
Net Cash From Investing Activities	20	-1.60	-8.74	18	-61	11	-114	-191	13	34	-340
Net Cash From Continuing Investing Activities	20	-1.60	-8.74	18	-61	11	-114	-191	13	34	-340
Purchase of Property, Plant & Equipment	-2.52	-2.06	-0.29	-0.58	-0.47	-0.52	-0.20	-0.10	-0.03	-0.04	-0.37
Purchase of Investments	-94	-86	-72	-77	-136	-33	-179	-236	-32	-24	-371
Sale and/or Maturity of Investments	117	87	63	95	75	45	65	45	45	58	31
Net Cash From Financing Activities	-	0.19	1.58	0.53	57	0.83	322	2.77	1.65	387	0.55
Net Cash From Continuing Financing Activities	-	0.19	1.58	0.53	57	0.83	322	2.77	1.65	387	0.55
Issuance of Common Equity	-	-	0.00	-	57	-	321	-0.46	-	378	-0.35
Other Financing Activities, net	-	0.19	1.58	0.53	0.08	0.83	1.66	3.22	1.65	8.44	0.90

This table presents Janux 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
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	16	380	364	380	1,062
Total Current Assets	16	377	332	349	1,034
Cash & Equivalents	7.81	36	51	19	431
Short-Term Investments	0.00	339	276	325	595
Prepaid Expenses	0.25	2.05	5.42	5.21	8.49
Plant, Property, & Equipment, net	0.16	1.41	7.09	7.00	4.86
Total Noncurrent Assets	0.00	1.39	24	24	23
Other Noncurrent Operating Assets	0.00	1.39	24	24	23
Total Liabilities & Shareholders' Equity	16	380	364	380	1,062
Total Liabilities	9.23	13	43	36	39
Total Current Liabilities	3.18	13	17	13	17
Accounts Payable	0.43	2.46	2.16	2.42	4.03
Accrued Expenses	0.75	3.78	8.18	7.39	12
Current Deferred Revenue	1.95	5.16	5.41	1.71	0.00
Other Current Liabilities	0.05	1.40	0.76	1.52	1.75
Total Noncurrent Liabilities	6.05	0.70	27	23	21
Noncurrent Deferred Revenue	6.05	0.70	2.22	0.00	0.00
Other Noncurrent Operating Liabilities	-	0.00	25	23	21
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-15	366	321	344	1,023
Total Preferred & Common Equity	-15	366	321	344	1,023
Preferred Stock	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-15	366	321	344	1,023
Common Stock	0.10	414	433	512	1,258
Retained Earnings	-15	-47	-110	-169	-238
Accumulated Other Comprehensive Income / (Loss)	0.00	-0.27	-1.54	0.67	2.16

This table presents Janux 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 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025
Total Assets	376	353	342	387	689	691	695	1,051
Total Current Assets	344	321	309	355	659	662	666	1,023
Cash & Equivalents	65	30	34	17	213	15	27	74
Short-Term Investments	274	287	270	333	439	632	631	940
Prepaid Expenses	5.07	3.77	6.01	5.48	6.38	8.15	8.29	9.19
Plant, Property, & Equipment, net	6.51	7.20	7.38	7.32	6.52	5.94	5.37	4.95
Total Noncurrent Assets	25	24	25	24	24	24	23	22
Other Noncurrent Operating Assets	25	24	25	24	24	24	23	22
Total Liabilities & Shareholders' Equity	376	353	342	387	689	691	695	1,051
Total Liabilities	44	42	42	38	33	34	39	38
Total Current Liabilities	16	16	18	14	11	12	17	18
Accounts Payable	2.87	2.05	1.91	2.51	2.25	1.25	2.46	2.35
Accrued Expenses	7.24	7.74	9.22	6.83	5.81	8.57	13	13
Current Deferred Revenue	5.91	4.94	5.34	3.65	0.97	0.09	0.00	0.00
Other Current Liabilities	0.32	1.39	1.44	1.49	1.57	1.63	1.69	1.81
Total Noncurrent Liabilities	28	26	24	23	23	22	22	21
Noncurrent Deferred Revenue	3.82	1.39	0.31	0.00	0.00	0.00	0.00	0.00
Other Noncurrent Operating Liabilities	24	24	24	23	23	22	22	21
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	332	311	299	349	656	658	656	1,012
Total Preferred & Common Equity	332	311	299	349	656	658	656	1,012
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	332	311	299	349	656	658	656	1,012
Common Stock	428	440	446	507	840	849	866	1,270
Retained Earnings	-94	-128	-145	-157	-184	-189	-218	-261
Accumulated Other Comprehensive Income / (Loss)	-2.28	-0.74	-1.06	-1.18	-0.52	-1.62	7.83	3.76

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

Metric	2020	2021	2022	2023	2024
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-
Revenue Growth	0.00%	0.00%	136.79%	-6.14%	30.99%
EBITDA Growth	0.00%	-287.82%	-107.45%	-15.02%	-36.41%
EBIT Growth	0.00%	-286.54%	-103.74%	-8.78%	-35.45%
NOPAT Growth	0.00%	-579.93%	-103.74%	-8.78%	-35.45%
Net Income Growth	0.00%	-381.60%	-93.01%	7.56%	-18.36%
EPS Growth	0.00%	81.24%	-9.35%	13.16%	3.03%
Operating Cash Flow Growth	0.00%	-288.56%	-152.84%	-17.83%	13.37%
Free Cash Flow Firm Growth	0.00%	0.00%	-223.67%	-16.94%	-15.25%
Invested Capital Growth	0.00%	-944.50%	27.34%	105.11%	-845.17%
Revenue Q/Q Growth	0.00%	0.00%	16.65%	-4.54%	-18.86%
EBITDA Q/Q Growth	0.00%	0.00%	-9.04%	1.86%	-14.71%
EBIT Q/Q Growth	0.00%	0.00%	-7.66%	2.83%	-14.99%
NOPAT Q/Q Growth	0.00%	0.00%	-7.66%	2.83%	-14.99%
Net Income Q/Q Growth	0.00%	0.00%	-4.39%	6.88%	-13.97%
EPS Q/Q Growth	0.00%	0.00%	-461.90%	10.81%	-11.30%
Operating Cash Flow Q/Q Growth	0.00%	-108.96%	-3.45%	3.83%	-18.45%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	2.33%	-12.66%
Invested Capital Q/Q Growth	0.00%	0.00%	13.40%	142.02%	-24.13%
Profitability Metrics	-	-	-	-	-
Gross Margin	0.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	0.00%	-907.01%	-794.62%	-973.80%	-1,014.09%
Operating Margin	0.00%	-905.39%	-779.04%	-902.87%	-933.58%
EBIT Margin	0.00%	-905.39%	-779.04%	-902.87%	-933.58%
Profit (Net Income) Margin	0.00%	-898.32%	-732.22%	-721.18%	-651.62%
Tax Burden Percent	77.75%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	102.42%	99.22%	93.99%	79.88%	69.80%
Effective Tax Rate	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%
ROIC Less NNEP Spread (ROIC-NNEP)	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%
Return on Equity (ROE)	-97.11%	-17.50%	-18.36%	-17.53%	-10.09%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	-17,969.56%	0.00%
Operating Return on Assets (OROA)	0.00%	-16.63%	-18.04%	-19.61%	-13.71%
Return on Assets (ROA)	0.00%	-16.50%	-16.96%	-15.66%	-9.57%
Return on Common Equity (ROCE)	203.47%	-16.49%	-18.36%	-17.53%	-10.09%
Return on Equity Simple (ROE_SIMPLE)	46.35%	-8.92%	-19.66%	-16.93%	-6.75%
Net Operating Profit after Tax (NOPAT)	-3.39	-23	-47	-51	-69
NOPAT Margin	0.00%	-633.77%	-545.33%	-632.01%	-653.50%
Net Nonoperating Expense Percent (NNEP)	-43.44%	-5.03%	-4.59%	-2.15%	0.03%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-14.64%	-14.84%	-6.77%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	0.00%	284.00%	258.50%	323.39%	387.67%
R&D to Revenue	0.00%	721.39%	620.54%	679.48%	645.90%
Operating Expenses to Revenue	0.00%	1,005.39%	879.04%	1,002.87%	1,033.58%
Earnings before Interest and Taxes (EBIT)	-8.52	-33	-67	-73	-99
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-8.51	-33	-68	-79	-107
Valuation Ratios	-	-	-	-	-
Price to Book Value (P/BV)	0.00	2.24	1.71	1.44	2.75
Price to Tangible Book Value (P/TBV)	0.00	2.24	1.71	1.44	2.75
Price to Revenue (P/Rev)	0.00	225.73	63.71	61.29	265.38
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	471.52	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	122.64	25.74	18.73	168.56
Enterprise Value to EBITDA (EV/EBITDA)	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
Enterprise Value to NOPAT (EV/NOPAT)	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
Enterprise Value to Free Cash Flow (EV/FCFF)	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
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-1.12	-1.03	-1.02	-1.01	-1.00
Leverage Ratio	2.32	1.06	1.08	1.12	1.05
Compound Leverage Factor	2.38	1.05	1.02	0.89	0.74
Debt to Total Capital	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%
Long-Term Debt to Total Capital	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%
Noncontrolling Interests to Total Capital	309.53%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	-209.53%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	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
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	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
Altman Z-Score	10.54	37.20	7.64	8.07	44.06
Noncontrolling Interest Sharing Ratio	309.53%	5.79%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-
Current Ratio	5.05	29.46	20.14	26.80	59.21
Quick Ratio	4.97	29.30	19.81	26.40	58.72
Cash Flow Metrics	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-15	-49	-58	-66
Operating Cash Flow to CapEx	0.00%	-1,145.48%	-665.97%	-2,733.78%	-12,204.46%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	-21.21	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-21.21	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-
Asset Turnover	0.00	0.02	0.02	0.02	0.01
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	4.64	2.03	1.15	1.78
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-
Invested Capital	-0.83	-8.64	-6.28	0.32	-2.39
Invested Capital Turnover	0.00	-0.77	-1.15	-2.71	-10.23
Increase / (Decrease) in Invested Capital	0.00	-7.81	2.36	6.60	-2.71
Enterprise Value (EV)	208	446	222	151	1,785
Market Capitalization	194	821	549	495	2,810
Book Value per Share	($16.00)	$8.80	$7.70	$7.46	$19.49
Tangible Book Value per Share	($16.00)	$8.80	$7.70	$7.46	$19.49
Total Capital	6.99	366	321	344	1,023
Total Debt	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00
Net Debt	-7.81	-375	-327	-344	-1,025
Capital Expenditures (CapEx)	0.00	1.48	6.45	1.85	0.36
Debt-free, Cash-free Net Working Capital (DFCFNWC)	5.07	-11	-11	-7.82	-8.97
Debt-free Net Working Capital (DFNWC)	13	364	316	336	1,016
Net Working Capital (NWC)	13	364	316	336	1,016
Net Nonoperating Expense (NNE)	3.39	9.62	16	7.21	-0.20
Net Nonoperating Obligations (NNO)	-7.81	-375	-327	-344	-1,025
Total Depreciation and Amortization (D&A)	0.01	-0.06	-1.34	-5.73	-8.53
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-295.38%	-128.70%	-96.75%	-84.68%
Debt-free Net Working Capital to Revenue	0.00%	10,014.35%	3,668.51%	4,159.45%	9,597.72%
Net Working Capital to Revenue	0.00%	10,014.35%	3,668.51%	4,159.45%	9,597.72%
Earnings Adjustments	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($1.39)	($1.52)	($1.32)	($1.28)
Adjusted Weighted Average Basic Shares Outstanding	0.00	41.62M	41.47M	44.02M	53.75M
Adjusted Diluted Earnings per Share	$0.00	($1.39)	($1.52)	($1.32)	($1.28)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	41.62M	41.47M	44.02M	53.75M
Adjusted Basic & Diluted Earnings per Share	$0.00	($1.39)	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	23.53M	41.83M	51.66M	59.11M
Normalized Net Operating Profit after Tax (NOPAT)	-3.39	-23	-47	-51	-69
Normalized NOPAT Margin	0.00%	-633.77%	-545.33%	-632.01%	-653.50%
Pre Tax Income Margin	0.00%	-898.32%	-732.22%	-721.18%	-651.62%
Debt Service Ratios	-	-	-	-	-
EBIT to Interest Expense	-41.35	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	-16.46	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-41.35	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-16.46	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%

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

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	56.43%	76.05%	28.89%	-55.31%	38.83%	-13.50%	-38.87%	741.72%	-82.56%	0.00%	-100.00%
EBITDA Growth	-69.25%	-42.06%	-61.06%	-28.21%	6.04%	7.77%	0.42%	26.35%	-119.45%	-77.94%	-80.23%
EBIT Growth	-65.29%	-35.40%	-51.24%	-20.20%	12.26%	11.66%	0.59%	33.38%	-126.66%	-79.85%	-73.09%
NOPAT Growth	-65.29%	-35.40%	-49.76%	-20.20%	12.26%	11.66%	0.59%	33.38%	-126.66%	-79.85%	-73.09%
Net Income Growth	-55.08%	-19.75%	-30.19%	-3.67%	30.71%	26.81%	15.46%	65.96%	-142.56%	-71.93%	-59.27%
EPS Growth	-53.85%	-125.16%	-31.25%	-2.44%	37.50%	41.03%	28.57%	73.81%	-104.00%	-56.52%	-26.67%
Operating Cash Flow Growth	-129.14%	-13.66%	-20.73%	-147.88%	12.71%	16.89%	-6.66%	33.43%	80.95%	-68.92%	-14.74%
Free Cash Flow Firm Growth	-616.03%	0.00%	-309.54%	-92.58%	-8.85%	-18.12%	-63.39%	-17.44%	-36.32%	1.62%	20.96%
Invested Capital Growth	32.63%	27.34%	5.44%	63.56%	89.46%	105.11%	171.29%	398.01%	-152.23%	-845.17%	-141.93%
Revenue Q/Q Growth	-23.34%	56.92%	-28.01%	-48.39%	138.13%	-2.22%	-49.13%	610.62%	-95.07%	0.00%	0.00%
EBITDA Q/Q Growth	-7.47%	-3.31%	-12.27%	-2.85%	21.24%	-1.41%	-21.22%	23.94%	-134.70%	17.77%	-22.78%
EBIT Q/Q Growth	-4.41%	-1.35%	-11.03%	-2.30%	23.79%	-2.05%	-24.94%	31.44%	-159.31%	19.03%	-20.24%
NOPAT Q/Q Growth	-4.41%	-1.35%	-11.03%	-2.30%	23.79%	-2.05%	-24.94%	31.44%	-159.31%	19.03%	-20.24%
Net Income Q/Q Growth	1.14%	3.78%	-8.68%	-0.28%	33.93%	-1.64%	-25.53%	59.63%	-370.87%	27.95%	-16.28%
EPS Q/Q Growth	2.44%	2.50%	-7.69%	0.00%	40.48%	8.00%	-30.43%	63.33%	-363.64%	29.41%	-5.56%
Operating Cash Flow Q/Q Growth	-120.88%	11.19%	-16.77%	-8.22%	22.22%	15.44%	-49.85%	32.46%	77.74%	-649.66%	-1.79%
Free Cash Flow Firm Q/Q Growth	-46.59%	6.06%	4.15%	-45.91%	17.15%	-1.94%	-32.59%	-4.87%	3.83%	26.43%	-6.52%
Invested Capital Q/Q Growth	30.86%	13.40%	10.60%	31.92%	80.00%	142.02%	1,146.11%	184.60%	-116.93%	-24.13%	29.89%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	0.00%	0.00%
EBITDA Margin	-1,022.67%	-673.29%	-1,050.10%	-2,092.53%	-692.13%	-717.88%	-1,710.54%	-183.08%	-8,708.43%	0.00%	0.00%
Operating Margin	-994.04%	-642.04%	-990.28%	-1,962.91%	-628.25%	-655.71%	-1,610.30%	-155.36%	-8,164.46%	0.00%	0.00%
EBIT Margin	-994.04%	-642.04%	-990.28%	-1,962.91%	-628.25%	-655.71%	-1,610.30%	-155.36%	-8,164.46%	0.00%	0.00%
Profit (Net Income) Margin	-920.90%	-564.67%	-852.49%	-1,656.39%	-459.59%	-477.77%	-1,178.91%	-66.98%	-6,391.57%	0.00%	0.00%
Tax Burden Percent	100.00%	99.19%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	92.64%	88.67%	86.09%	84.38%	73.16%	72.86%	73.21%	43.11%	78.29%	69.66%	67.36%
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%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-434.97%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-435.75%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	432.31%	0.00%	0.00%	0.00%
Return on Equity (ROE)	-17.06%	-18.36%	-20.11%	-21.06%	-18.40%	-17.53%	-11.50%	-2.66%	-12.05%	-10.09%	0.00%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	-17,969.56%	-1,515.31%	-538.98%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	-19.14%	-14.87%	-24.90%	-41.93%	-13.95%	-14.24%	-22.52%	-4.55%	-196.95%	0.00%	0.00%
Return on Assets (ROA)	-17.73%	-13.08%	-21.43%	-35.38%	-10.21%	-10.38%	-16.49%	-1.96%	-154.18%	0.00%	0.00%
Return on Common Equity (ROCE)	-17.06%	-18.36%	-20.11%	-21.06%	-18.40%	-17.53%	-11.50%	-2.66%	-12.05%	-10.09%	0.00%
Return on Equity Simple (ROE_SIMPLE)	-18.22%	0.00%	-21.56%	-22.62%	-17.94%	0.00%	-8.48%	-6.70%	-9.23%	0.00%	-7.68%
Net Operating Profit after Tax (NOPAT)	-13	-13	-14	-15	-11	-11	-14	-9.68	-25	-20	-24
NOPAT Margin	-695.83%	-449.43%	-693.20%	-1,374.04%	-439.77%	-459.00%	-1,127.21%	-108.75%	-5,715.13%	0.00%	0.00%
Net Nonoperating Expense Percent (NNEP)	-1.12%	-0.93%	-0.96%	-0.91%	-0.14%	-0.14%	-0.13%	0.78%	-0.59%	0.01%	0.11%
Return On Investment Capital (ROIC_SIMPLE)	-	-3.99%	-	-	-	-3.28%	-	-	-	-1.99%	-2.41%
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	336.35%	199.54%	315.63%	650.99%	255.78%	258.31%	586.50%	87.91%	4,024.37%	0.00%	0.00%
R&D to Revenue	757.69%	542.50%	774.66%	1,411.92%	472.47%	497.40%	1,123.80%	167.45%	4,240.09%	0.00%	0.00%
Operating Expenses to Revenue	1,094.04%	742.04%	1,090.28%	2,062.91%	728.25%	755.71%	1,710.30%	255.36%	8,264.46%	0.00%	0.00%
Earnings before Interest and Taxes (EBIT)	-18	-18	-20	-21	-16	-16	-20	-14	-36	-29	-35
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-19	-19	-22	-22	-17	-18	-21	-16	-38	-31	-39
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.70	1.71	1.63	1.66	1.33	1.44	2.97	3.30	3.61	2.75	1.58
Price to Tangible Book Value (P/TBV)	1.70	1.71	1.63	1.66	1.33	1.44	2.97	3.30	3.61	2.75	1.58
Price to Revenue (P/Rev)	76.41	63.71	55.80	63.97	54.93	61.29	266.91	143.59	181.61	265.38	170.93
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	471.52	323.31	134.02	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	30.52	25.74	20.87	24.90	13.63	18.73	177.47	100.86	131.18	168.56	62.31
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-1.03	-1.02	-1.02	-1.02	-1.01	-1.01	-1.00	-0.99	-1.00	-1.00	-1.00
Leverage Ratio	1.08	1.08	1.08	1.13	1.12	1.12	1.08	1.08	1.08	1.05	1.04
Compound Leverage Factor	1.00	0.96	0.93	0.95	0.82	0.82	0.79	0.47	0.84	0.73	0.70
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	8.21	8.08	7.65	7.34	7.74	8.56	35.80	39.33	37.07	44.28	25.70
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	21.08	20.14	19.95	17.28	24.55	26.80	62.09	57.34	38.80	59.21	58.47
Quick Ratio	20.77	19.81	19.71	16.94	24.17	26.40	61.48	56.63	38.32	58.72	57.94
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-16	-15	-15	-21	-18	-18	-24	-25	-24	-18	-19
Operating Cash Flow to CapEx	-532.30%	-579.43%	-4,881.05%	-2,595.52%	-2,491.28%	-1,922.52%	-7,531.47%	-10,548.42%	-8,924.00%	-39,821.43%	-4,588.68%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.02	0.02	0.03	0.02	0.02	0.02	0.01	0.03	0.02	0.01	0.01
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	11.48	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	1.93	2.03	1.84	1.43	1.22	1.15	1.06	2.27	2.06	1.78	1.63
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	31.78	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	31.78	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-7.25	-6.28	-5.61	-3.82	-0.76	0.32	4.00	11	-1.93	-2.39	-1.68
Invested Capital Turnover	-0.82	-1.15	-1.57	-1.09	-2.11	-2.71	-9.05	4.00	-9.70	-10.23	8.04
Increase / (Decrease) in Invested Capital	3.51	2.36	0.32	6.66	6.48	6.60	9.61	15	-1.16	-2.71	-5.68
Enterprise Value (EV)	225	222	189	193	115	151	1,293	1,526	1,712	1,785	582
Market Capitalization	564	549	506	497	465	495	1,945	2,172	2,370	2,810	1,596
Book Value per Share	$7.96	$7.70	$7.44	$7.16	$7.56	$7.46	$12.69	$12.68	$12.58	$19.49	$17.13
Tangible Book Value per Share	$7.96	$7.70	$7.44	$7.16	$7.56	$7.46	$12.69	$12.68	$12.58	$19.49	$17.13
Total Capital	332	321	311	299	349	344	656	658	656	1,023	1,012
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	-339	-327	-317	-303	-350	-344	-652	-646	-658	-1,025	-1,014
Capital Expenditures (CapEx)	2.52	2.06	0.29	0.58	0.47	0.52	0.20	0.10	0.03	0.04	0.37
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-11	-11	-12	-12	-8.99	-7.82	-3.71	4.10	-8.88	-8.97	-8.31
Debt-free Net Working Capital (DFNWC)	328	316	305	291	341	336	648	650	649	1,016	1,006
Net Working Capital (NWC)	328	316	305	291	341	336	648	650	649	1,016	1,006
Net Nonoperating Expense (NNE)	4.08	3.28	3.26	2.98	0.50	0.46	0.65	-3.72	2.97	-0.10	-0.92
Net Nonoperating Obligations (NNO)	-339	-327	-317	-303	-350	-344	-652	-646	-658	-1,025	-1,014
Total Depreciation and Amortization (D&A)	-0.52	-0.89	-1.23	-1.37	-1.61	-1.53	-1.26	-2.47	-2.39	-2.42	-3.70
Debt-free, Cash-free Net Working Capital to Revenue	-145.81%	-128.70%	-127.77%	-153.18%	-106.15%	-96.75%	-50.86%	27.11%	-68.07%	-84.68%	-89.00%
Debt-free Net Working Capital to Revenue	4,442.57%	3,668.51%	3,365.51%	3,753.68%	4,024.14%	4,159.45%	8,893.33%	4,299.56%	4,974.70%	9,597.72%	10,773.75%
Net Working Capital to Revenue	4,442.57%	3,668.51%	3,365.51%	3,753.68%	4,024.14%	4,159.45%	8,893.33%	4,299.56%	4,974.70%	9,597.72%	10,773.75%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.40)	($0.39)	($0.42)	($0.42)	($0.25)	($0.23)	($0.30)	($0.11)	($0.51)	($0.36)	($0.38)
Adjusted Weighted Average Basic Shares Outstanding	41.53M	41.47M	41.76M	41.84M	45.71M	44.02M	49.05M	54.45M	54.63M	53.75M	61.79M
Adjusted Diluted Earnings per Share	($0.40)	($0.39)	($0.42)	($0.42)	($0.25)	($0.23)	($0.30)	($0.11)	($0.51)	($0.36)	($0.38)
Adjusted Weighted Average Diluted Shares Outstanding	41.53M	41.47M	41.76M	41.84M	45.71M	44.02M	49.05M	54.45M	54.63M	53.75M	61.79M
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	41.66M	41.83M	41.83M	46.14M	46.17M	51.66M	51.85M	52.16M	52.48M	59.11M	59.18M
Normalized Net Operating Profit after Tax (NOPAT)	-13	-13	-14	-15	-11	-11	-14	-9.68	-25	-20	-24
Normalized NOPAT Margin	-695.83%	-449.43%	-693.20%	-1,374.04%	-439.77%	-459.00%	-1,127.21%	-108.75%	-5,715.13%	0.00%	0.00%
Pre Tax Income Margin	-920.90%	-569.31%	-852.49%	-1,656.39%	-459.59%	-477.77%	-1,178.91%	-66.98%	-6,391.57%	0.00%	0.00%
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

Janux Therapeutics (NASDAQ: JANX) has experienced persistent net losses over the past several years, reflecting challenges typical for a clinical-stage biotech company investing heavily in research and development. Reviewing the most recent four years’ financial data, several key trends emerge:

Janux maintained substantial cash and short-term investments, totaling about $1.02 billion as of Q1 2025, indicating a strong liquidity position to fund ongoing operations.
Interest and investment income steadily increased from about $1.3 million in Q3 2022 to nearly $11.4 million in Q1 2025, offsetting some operating losses and contributing positively to pre-tax income.
The company consistently raised capital through common stock issuance, with large financing inflows during 2023 and 2024 supporting balance sheet strength and funding R&D activities.
Operating revenues were minimal and inconsistent, ranging from zero in Q1 2025 to a few million dollars in prior quarters, underscoring the company’s early-stage status without commercial products.

R&D and selling, general, & administrative expenses have been increasing over time, reaching $25.1 million and nearly $9.8 million respectively in Q1 2025, indicating escalating costs as clinical programs advance.
Total operating loss widened to about $34.9 million in Q1 2025 from approximately $29 million in Q4 2024, reflecting increased investment in pipeline development.
The company reported negative net cash flows from operating activities in most quarters, typically in the range of $10 million to $23 million, consistent with development-stage biotech cash burn.
Investing activities consistently show large net outflows due to purchases of investments which partially offset by proceeds from sales and maturities of investments.

Net income losses have consistently deepened quarter-over-quarter from about -$11.6 million in Q3 2023 to -$23.5 million in Q1 2025.
The company’s cash position saw a significant net decrease of approximately $357 million in Q1 2025, primarily due to heavy investment in securities and ongoing operating losses, raising concerns about cash runway sustainability.

Summary: Janux Therapeutics is advancing its clinical pipeline with rising R&D expenditures driving deepening losses. The company’s large cash and investment holdings combined with substantial equity financing have so far provided a solid liquidity cushion. However, the widening quarterly net losses and significant cash burn in early 2025 highlight risks typical for a biotech firm at this stage, requiring continued capital raising or partnerships to sustain operations long-term.

10/22/25 01:21 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Janux Therapeutics' Financials

When does Janux Therapeutics' financial year end?

According to the most recent income statement we have on file, Janux Therapeutics' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Janux Therapeutics' net income changed over the last 4 years?

Janux Therapeutics' net income appears to be on an upward trend, with a most recent value of -$68.99 million in 2024, rising from -$6.78 million in 2020. The previous period was -$58.29 million in 2023. Check out Janux Therapeutics' forecast to explore projected trends and price targets.

What is Janux Therapeutics' operating income?

Janux Therapeutics' total operating income in 2024 was -$98.85 million, based on the following breakdown:

Total Gross Profit: $10.59 million
Total Operating Expenses: $109.44 million

How has Janux Therapeutics' revenue changed over the last 4 years?

Over the last 4 years, Janux Therapeutics' total revenue changed from $0.00 in 2020 to $10.59 million in 2024, a change of 1,058,800,000.0%.

How much debt does Janux Therapeutics have?

Janux Therapeutics' total liabilities were at $38.74 million at the end of 2024, a 7.4% increase from 2023, and a 319.6% increase since 2020.

How much cash does Janux Therapeutics have?

In the past 4 years, Janux Therapeutics' cash and equivalents has ranged from $7.81 million in 2020 to $430.61 million in 2024, and is currently $430.61 million as of their latest financial filing in 2024.

How has Janux Therapeutics' book value per share changed over the last 4 years?

Over the last 4 years, Janux Therapeutics' book value per share changed from -16.00 in 2020 to 19.49 in 2024, a change of -221.8%.

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This page (NASDAQ:JANX) was last updated on 10/22/2025 by MarketBeat.com Staff

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Janux Therapeutics (JANX) Financials

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Janux Therapeutics (JANX) Financials

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