Janux Therapeutics (JANX) Financials

$14.33 -0.09 (-0.62%)

Closing price 04:00 PM Eastern

Extended Trading

$14.60 +0.27 (+1.87%)

As of 05:35 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	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-8.73	-33	-63	-58	-69	-114
Consolidated Net Income / (Loss)	-6.78	-33	-63	-58	-69	-114
Net Income / (Loss) Continuing Operations	-8.73	-33	-63	-58	-69	-114
Total Pre-Tax Income	-8.73	-33	-63	-58	-69	-114
Total Operating Income	-4.84	-33	-67	-73	-99	-158
Total Gross Profit	0.00	3.64	8.61	8.08	11	10
Total Revenue	0.00	3.64	8.61	8.08	11	10
Operating Revenue	0.00	3.64	8.61	8.08	11	10
Total Cost of Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	4.84	37	76	81	109	168
Selling, General & Admin Expense	1.80	10	22	26	41	42
Research & Development Expense	3.04	26	53	55	68	126
Total Other Income / (Expense), net	-3.88	0.26	4.03	15	30	44
Interest & Investment Income	0.00	0.26	4.03	15	30	44
Basic Earnings per Share	($7.41)	($1.39)	($1.52)	($1.32)	($1.28)	($1.83)
Weighted Average Basic Shares Outstanding	915.15K	23.53M	41.47M	44.02M	53.75M	61.97M
Diluted Earnings per Share	($7.41)	($1.39)	($1.52)	($1.32)	($1.28)	($1.83)
Weighted Average Diluted Shares Outstanding	915.15K	23.53M	41.47M	44.02M	53.75M	61.97M
Weighted Average Basic & Diluted Shares Outstanding	915.15K	23.53M	41.83M	51.66M	59.11M	60.83M

This table shows Janux Therapeutics' 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	-18	-12	-12	-15	-5.96	-28	-20	-24	-34	-24	-32
Consolidated Net Income / (Loss)	-18	-12	-12	-15	-5.96	-28	-20	-24	-34	-24	-32
Net Income / (Loss) Continuing Operations	-18	-12	-12	-15	-5.96	-28	-20	-24	-34	-24	-32
Total Pre-Tax Income	-18	-12	-12	-15	-5.96	-28	-20	-24	-34	-24	-32
Total Operating Income	-21	-16	-16	-20	-14	-36	-29	-35	-45	-35	-42
Total Operating Expenses	22	18	19	21	23	36	29	35	45	45	42
Selling, General & Admin Expense	6.88	6.44	6.36	7.34	7.82	18	8.22	9.84	10	11	11
Research & Development Expense	15	12	12	14	15	19	21	25	35	35	32
Total Other Income / (Expense), net	3.24	4.25	4.38	5.40	7.86	7.78	8.81	11	11	11	10
Interest & Investment Income	3.24	4.25	4.38	5.40	7.86	7.78	8.81	11	11	11	10
Basic Earnings per Share	($0.42)	($0.25)	($0.23)	($0.30)	($0.11)	($0.51)	($0.36)	($0.38)	($0.55)	($0.39)	($0.51)
Weighted Average Basic Shares Outstanding	41.84M	45.71M	44.02M	49.05M	54.45M	54.63M	53.75M	61.79M	61.90M	62.02M	61.97M
Diluted Earnings per Share	($0.42)	($0.25)	($0.23)	($0.30)	($0.11)	($0.51)	($0.36)	($0.38)	($0.55)	($0.39)	($0.51)
Weighted Average Diluted Shares Outstanding	41.84M	45.71M	44.02M	49.05M	54.45M	54.63M	53.75M	61.79M	61.90M	62.02M	61.97M
Weighted Average Basic & Diluted Shares Outstanding	46.14M	46.17M	51.66M	51.85M	52.16M	52.48M	59.11M	59.18M	60.09M	60.15M	60.83M

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	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	7.16	29	16	-32	411	-378
Net Cash From Operating Activities	-4.37	-17	-43	-51	-44	-82
Net Cash From Continuing Operating Activities	-4.37	-17	-43	-51	-44	-82
Net Income / (Loss) Continuing Operations	-6.78	-33	-63	-58	-69	-114
Consolidated Net Income / (Loss)	-6.78	-33	-63	-58	-69	-114
Depreciation Expense	0.01	0.11	0.84	1.96	2.06	2.03
Amortization Expense	0.00	-0.17	-2.18	-7.69	-11	-18
Non-Cash Adjustments To Reconcile Net Income	2.01	6.91	17	20	33	40
Changes in Operating Assets and Liabilities, net	0.39	8.84	4.28	-6.55	0.69	6.71
Net Cash From Investing Activities	0.00	-341	58	-41	-258	-301
Net Cash From Continuing Investing Activities	0.00	-341	58	-41	-258	-301
Purchase of Property, Plant & Equipment	0.00	-1.48	-6.45	-1.85	-0.36	-1.04
Purchase of Investments	0.00	-474	-294	-317	-471	-705
Sale and/or Maturity of Investments	0.00	134	359	278	213	405
Net Cash From Financing Activities	12	387	0.50	60	713	4.95
Net Cash From Continuing Financing Activities	12	387	0.50	60	713	4.95
Issuance of Common Equity	0.00	204	0.00	57	698	-0.35
Other Financing Activities, net	0.07	1.81	0.50	3.02	15	5.29

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	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	3.35	-17	2.05	194	-198	12	404	-357	-21	-4.06	3.95
Net Cash From Operating Activities	-15	-12	-9.90	-15	-10	-2.23	-17	-17	-24	-13	-29
Net Cash From Continuing Operating Activities	-15	-12	-9.90	-15	-10	-2.23	-17	-17	-24	-13	-29
Net Income / (Loss) Continuing Operations	-18	-12	-12	-15	-5.96	-28	-20	-24	-34	-24	-32
Consolidated Net Income / (Loss)	-18	-12	-12	-15	-5.96	-28	-20	-24	-34	-24	-32
Depreciation Expense	0.47	0.50	0.53	0.53	0.51	0.51	0.51	0.52	0.54	0.50	0.47
Amortization Expense	-1.84	-2.11	-2.06	-1.79	-2.97	-2.90	-2.93	-4.22	-5.21	-4.62	-3.52
Non-Cash Adjustments To Reconcile Net Income	5.50	4.55	4.48	5.63	5.76	15	6.25	11	11	9.04	9.52
Changes in Operating Assets and Liabilities, net	-1.68	-3.08	-1.10	-4.45	-7.35	13	-0.35	-0.52	3.75	6.54	-3.06
Net Cash From Investing Activities	18	-61	11	-114	-191	13	34	-340	1.56	8.31	30
Net Cash From Continuing Investing Activities	18	-61	11	-114	-191	13	34	-340	1.56	8.31	30
Purchase of Property, Plant & Equipment	-0.58	-0.47	-0.52	-0.20	-0.10	-0.03	-0.04	-0.37	-0.47	-0.09	-0.11
Purchase of Investments	-77	-136	-33	-179	-236	-32	-24	-371	-93	-118	-123
Sale and/or Maturity of Investments	95	75	45	65	45	45	58	31	95	126	153
Net Cash From Financing Activities	0.53	57	0.83	322	2.77	1.65	387	0.55	0.95	0.49	2.94
Net Cash From Continuing Financing Activities	0.53	57	0.83	322	2.77	1.65	387	0.55	0.95	0.49	2.94
Other Financing Activities, net	0.53	0.08	0.83	1.66	3.22	1.65	8.44	0.90	0.95	0.49	2.94

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	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	16	380	364	380	1,062	1,002
Total Current Assets	16	377	332	349	1,034	976
Cash & Equivalents	7.81	36	51	19	431	52
Short-Term Investments	0.00	339	276	325	595	914
Prepaid Expenses	0.25	2.05	5.42	5.21	8.49	9.32
Plant, Property, & Equipment, net	0.16	1.41	7.09	7.00	4.86	3.85
Total Noncurrent Assets	0.00	1.39	24	24	23	22
Other Noncurrent Operating Assets	0.00	1.39	24	24	23	22
Total Liabilities & Shareholders' Equity	16	380	364	380	1,062	1,002
Total Liabilities	9.23	13	43	36	39	45
Total Current Liabilities	3.18	13	17	13	17	25
Accounts Payable	0.43	2.46	2.16	2.42	4.03	4.97
Accrued Expenses	0.75	3.78	8.18	7.39	12	18
Other Current Liabilities	0.05	1.40	0.76	1.52	1.75	2.39
Total Noncurrent Liabilities	6.05	0.70	27	23	21	20
Noncurrent Deferred Revenue	6.05	0.70	2.22	0.00	0.00	0.00
Other Noncurrent Operating Liabilities	-	0.00	25	23	21	20
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-15	366	321	344	1,023	957
Total Preferred & Common Equity	-15	366	321	344	1,023	957
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-15	366	321	344	1,023	957
Common Stock	0.10	414	433	512	1,258	1,304
Retained Earnings	-15	-47	-110	-169	-238	-351
Accumulated Other Comprehensive Income / (Loss)	0.00	-0.27	-1.54	0.67	2.16	4.32

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	Q2 2025	Q3 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	6/30/2025	9/30/2025
Total Assets	376	353	342	387	689	691	695	1,051	1,032	1,025
Total Current Assets	344	321	309	355	659	662	666	1,023	1,006	998
Cash & Equivalents	65	30	34	17	213	15	27	74	52	48
Short-Term Investments	274	287	270	333	439	632	631	940	944	941
Prepaid Expenses	5.07	3.77	6.01	5.48	6.38	8.15	8.29	9.19	9.54	9.09
Plant, Property, & Equipment, net	6.51	7.20	7.38	7.32	6.52	5.94	5.37	4.95	4.69	4.31
Total Noncurrent Assets	25	24	25	24	24	24	23	22	22	22
Other Noncurrent Operating Assets	25	24	25	24	24	24	23	22	22	22
Total Liabilities & Shareholders' Equity	376	353	342	387	689	691	695	1,051	1,032	1,025
Total Liabilities	44	42	42	38	33	34	39	38	42	48
Total Current Liabilities	16	16	18	14	11	12	17	18	21	28
Accounts Payable	2.87	2.05	1.91	2.51	2.25	1.25	2.46	2.35	3.48	3.40
Accrued Expenses	7.24	7.74	9.22	6.83	5.81	8.57	13	13	16	22
Current Deferred Revenue	5.91	4.94	5.34	3.65	0.97	0.09	0.00	0.00	0.00	0.00
Other Current Liabilities	0.32	1.39	1.44	1.49	1.57	1.63	1.69	1.81	1.87	2.28
Total Noncurrent Liabilities	28	26	24	23	23	22	22	21	20	20
Noncurrent Deferred Revenue	3.82	1.39	0.31	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Noncurrent Operating Liabilities	24	24	24	23	23	22	22	21	20	20
Commitments & Contingencies	0.00	0.00	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	991	977
Total Preferred & Common Equity	332	311	299	349	656	658	656	1,012	991	977
Preferred Stock	0.00	0.00	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	991	977
Common Stock	428	440	446	507	840	849	866	1,270	1,282	1,291
Retained Earnings	-94	-128	-145	-157	-184	-189	-218	-261	-295	-319
Accumulated Other Comprehensive Income / (Loss)	-2.28	-0.74	-1.06	-1.18	-0.52	-1.62	7.83	3.76	3.75	4.56

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

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	136.79%	-6.14%	30.99%	-5.55%
EBITDA Growth	0.00%	-287.82%	-107.45%	-15.02%	-36.41%	-61.32%
EBIT Growth	0.00%	-286.54%	-103.74%	-8.78%	-35.45%	-59.51%
NOPAT Growth	0.00%	-579.93%	-103.74%	-8.78%	-35.45%	-59.51%
Net Income Growth	0.00%	-381.60%	-93.01%	7.56%	-18.36%	-64.69%
EPS Growth	0.00%	81.24%	-9.35%	13.16%	3.03%	-42.97%
Operating Cash Flow Growth	0.00%	-288.56%	-152.84%	-17.83%	13.37%	-87.69%
Free Cash Flow Firm Growth	0.00%	0.00%	-223.67%	-16.94%	-15.25%	-54.96%
Invested Capital Growth	0.00%	-944.50%	27.34%	105.11%	-845.17%	-307.40%
Revenue Q/Q Growth	0.00%	0.00%	16.65%	-4.54%	-18.86%	0.00%
EBITDA Q/Q Growth	0.00%	0.00%	-9.04%	1.86%	-14.71%	-8.81%
EBIT Q/Q Growth	0.00%	0.00%	-7.66%	2.83%	-14.99%	-9.27%
NOPAT Q/Q Growth	0.00%	0.00%	-7.66%	2.83%	-14.99%	-9.27%
Net Income Q/Q Growth	0.00%	0.00%	-4.39%	6.88%	-13.97%	-11.51%
EPS Q/Q Growth	0.00%	0.00%	-461.90%	10.81%	-11.30%	-8.93%
Operating Cash Flow Q/Q Growth	0.00%	-108.96%	-3.45%	3.83%	-18.45%	-16.78%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	2.33%	-12.66%	-13.84%
Invested Capital Q/Q Growth	0.00%	0.00%	13.40%	142.02%	-24.13%	21.65%
Profitability Metrics	-	-	-	-	-	-
Gross Margin	0.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	0.00%	-907.01%	-794.62%	-973.80%	-1,014.09%	-1,732.12%
Operating Margin	0.00%	-905.39%	-779.04%	-902.87%	-933.58%	-1,576.67%
EBIT Margin	0.00%	-905.39%	-779.04%	-902.87%	-933.58%	-1,576.67%
Profit (Net Income) Margin	0.00%	-898.32%	-732.22%	-721.18%	-651.62%	-1,136.25%
Tax Burden Percent	77.75%	100.00%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	102.42%	99.22%	93.99%	79.88%	69.80%	72.07%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	-97.11%	-17.50%	-18.36%	-17.53%	-10.09%	-11.48%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	-17,969.56%	0.00%	0.00%
Operating Return on Assets (OROA)	0.00%	-16.63%	-18.04%	-19.61%	-13.71%	-15.28%
Return on Assets (ROA)	0.00%	-16.50%	-16.96%	-15.66%	-9.57%	-11.02%
Return on Common Equity (ROCE)	203.47%	-16.49%	-18.36%	-17.53%	-10.09%	-11.48%
Return on Equity Simple (ROE_SIMPLE)	46.35%	-8.92%	-19.66%	-16.93%	-6.75%	0.00%
Net Operating Profit after Tax (NOPAT)	-3.39	-23	-47	-51	-69	-110
NOPAT Margin	0.00%	-633.77%	-545.33%	-632.01%	-653.50%	-1,103.67%
Net Nonoperating Expense Percent (NNEP)	-43.44%	-5.03%	-4.59%	-2.15%	0.03%	-0.33%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-14.64%	-14.84%	-6.77%	-11.53%
Cost of Revenue to Revenue	0.00%	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%	417.71%
R&D to Revenue	0.00%	721.39%	620.54%	679.48%	645.90%	1,258.96%
Operating Expenses to Revenue	0.00%	1,005.39%	879.04%	1,002.87%	1,033.58%	1,676.67%
Earnings before Interest and Taxes (EBIT)	-8.52	-33	-67	-73	-99	-158
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-8.51	-33	-68	-79	-107	-173
Valuation Ratios	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	2.24	1.71	1.44	2.75	0.87
Price to Tangible Book Value (P/TBV)	0.00	2.24	1.71	1.44	2.75	0.87
Price to Revenue (P/Rev)	0.00	225.73	63.71	61.29	265.38	83.00
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	471.52	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	122.64	25.74	18.73	168.56	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-1.12	-1.03	-1.02	-1.01	-1.00	-1.01
Leverage Ratio	2.32	1.06	1.08	1.12	1.05	1.04
Compound Leverage Factor	2.38	1.05	1.02	0.89	0.74	0.75
Debt to Total Capital	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%
Long-Term Debt to Total Capital	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%
Noncontrolling Interests to Total Capital	309.53%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	-209.53%	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
Net Debt to EBITDA	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
Debt to NOPAT	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
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	10.54	37.20	7.64	8.07	44.06	11.27
Noncontrolling Interest Sharing Ratio	309.53%	5.79%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-
Current Ratio	5.05	29.46	20.14	26.80	59.21	39.04
Quick Ratio	4.97	29.30	19.81	26.40	58.72	38.67
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-15	-49	-58	-66	-103
Operating Cash Flow to CapEx	0.00%	-1,145.48%	-665.97%	-2,733.78%	-12,204.46%	-7,884.47%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	-21.21	0.00	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	0.00
Efficiency Ratios	-	-	-	-	-	-
Asset Turnover	0.00	0.02	0.02	0.02	0.01	0.01
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	4.64	2.03	1.15	1.78	2.29
Accounts Payable Turnover	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
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	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	-9.75
Invested Capital Turnover	0.00	-0.77	-1.15	-2.71	-10.23	-1.65
Increase / (Decrease) in Invested Capital	0.00	-7.81	2.36	6.60	-2.71	-7.35
Enterprise Value (EV)	208	446	222	151	1,785	-137
Market Capitalization	194	821	549	495	2,810	830
Book Value per Share	($16.00)	$8.80	$7.70	$7.46	$19.49	$15.91
Tangible Book Value per Share	($16.00)	$8.80	$7.70	$7.46	$19.49	$15.91
Total Capital	6.99	366	321	344	1,023	957
Total Debt	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
Net Debt	-7.81	-375	-327	-344	-1,025	-967
Capital Expenditures (CapEx)	0.00	1.48	6.45	1.85	0.36	1.04
Debt-free, Cash-free Net Working Capital (DFCFNWC)	5.07	-11	-11	-7.82	-8.97	-16
Debt-free Net Working Capital (DFNWC)	13	364	316	336	1,016	951
Net Working Capital (NWC)	13	364	316	336	1,016	951
Net Nonoperating Expense (NNE)	3.39	9.62	16	7.21	-0.20	3.26
Net Nonoperating Obligations (NNO)	-7.81	-375	-327	-344	-1,025	-967
Total Depreciation and Amortization (D&A)	0.01	-0.06	-1.34	-5.73	-8.53	-16
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-295.38%	-128.70%	-96.75%	-84.68%	-156.77%
Debt-free Net Working Capital to Revenue	0.00%	10,014.35%	3,668.51%	4,159.45%	9,597.72%	9,508.90%
Net Working Capital to Revenue	0.00%	10,014.35%	3,668.51%	4,159.45%	9,597.72%	9,508.90%
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($1.39)	($1.52)	($1.32)	($1.28)	($1.83)
Adjusted Weighted Average Basic Shares Outstanding	0.00	41.62M	41.47M	44.02M	53.75M	61.97M
Adjusted Diluted Earnings per Share	$0.00	($1.39)	($1.52)	($1.32)	($1.28)	($1.83)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	41.62M	41.47M	44.02M	53.75M	61.97M
Adjusted Basic & Diluted Earnings per Share	$0.00	($1.39)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	23.53M	41.83M	51.66M	59.11M	60.83M
Normalized Net Operating Profit after Tax (NOPAT)	-3.39	-23	-47	-51	-69	-110
Normalized NOPAT Margin	0.00%	-633.77%	-545.33%	-632.01%	-653.50%	-1,103.67%
Pre Tax Income Margin	0.00%	-898.32%	-732.22%	-721.18%	-651.62%	-1,136.25%
Debt Service Ratios	-	-	-	-	-	-
EBIT to Interest Expense	-41.35	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	-16.46	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-41.35	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-16.46	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	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	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
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-55.31%	38.83%	-13.50%	-38.87%	741.72%	-82.56%	0.00%	-100.00%	-100.00%	2,177.90%	0.00%
EBITDA Growth	-28.21%	6.04%	7.77%	0.42%	26.35%	-119.45%	-77.94%	-80.23%	-205.62%	-2.99%	-44.60%
EBIT Growth	-20.20%	12.26%	11.66%	0.59%	33.38%	-126.66%	-79.85%	-73.09%	-226.42%	1.65%	-46.10%
NOPAT Growth	-20.20%	12.26%	11.66%	0.59%	33.38%	-126.66%	-79.85%	-73.09%	-226.42%	1.65%	-46.10%
Net Income Growth	-3.67%	30.71%	26.81%	15.46%	65.96%	-142.56%	-71.93%	-59.27%	-468.18%	13.35%	-58.02%
EPS Growth	-2.44%	37.50%	41.03%	28.57%	73.81%	-104.00%	-56.52%	-26.67%	-400.00%	23.53%	-41.67%
Operating Cash Flow Growth	-147.88%	12.71%	16.89%	-6.66%	33.43%	80.95%	-68.92%	-14.74%	-137.63%	-476.24%	-70.65%
Free Cash Flow Firm Growth	-92.58%	-8.85%	-18.12%	-63.39%	-17.44%	-36.32%	1.62%	20.96%	40.90%	40.80%	-26.84%
Invested Capital Growth	63.56%	89.46%	105.11%	171.29%	398.01%	-152.23%	-845.17%	-141.93%	-148.27%	-545.46%	-307.40%
Revenue Q/Q Growth	-48.39%	138.13%	-2.22%	-49.13%	610.62%	-95.07%	0.00%	0.00%	0.00%	0.00%	0.00%
EBITDA Q/Q Growth	-2.85%	21.24%	-1.41%	-21.22%	23.94%	-134.70%	17.77%	-22.78%	-28.97%	20.91%	-15.45%
EBIT Q/Q Growth	-2.30%	23.79%	-2.05%	-24.94%	31.44%	-159.31%	19.03%	-20.24%	-29.29%	21.87%	-20.28%
NOPAT Q/Q Growth	-2.30%	23.79%	-2.05%	-24.94%	31.44%	-159.31%	19.03%	-20.24%	-29.29%	21.87%	-20.28%
Net Income Q/Q Growth	-0.28%	33.93%	-1.64%	-25.53%	59.63%	-370.87%	27.95%	-16.28%	-44.03%	28.19%	-31.39%
EPS Q/Q Growth	0.00%	40.48%	8.00%	-30.43%	63.33%	-363.64%	29.41%	-5.56%	-44.74%	29.09%	-30.77%
Operating Cash Flow Q/Q Growth	-8.22%	22.22%	15.44%	-49.85%	32.46%	77.74%	-649.66%	-1.79%	-39.88%	46.01%	-122.01%
Free Cash Flow Firm Q/Q Growth	-45.91%	17.15%	-1.94%	-32.59%	-4.87%	3.83%	26.43%	-6.52%	21.58%	3.67%	-57.63%
Invested Capital Q/Q Growth	31.92%	80.00%	142.02%	1,146.11%	184.60%	-116.93%	-24.13%	29.89%	-227.67%	-126.35%	21.65%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	0.00%	0.00%	0.00%	100.00%	0.00%
EBITDA Margin	-2,092.53%	-692.13%	-717.88%	-1,710.54%	-183.08%	-8,708.43%	0.00%	0.00%	0.00%	-393.73%	0.00%
Operating Margin	-1,962.91%	-628.25%	-655.71%	-1,610.30%	-155.36%	-8,164.46%	0.00%	0.00%	0.00%	-352.51%	0.00%
EBIT Margin	-1,962.91%	-628.25%	-655.71%	-1,610.30%	-155.36%	-8,164.46%	0.00%	0.00%	0.00%	-352.51%	0.00%
Profit (Net Income) Margin	-1,656.39%	-459.59%	-477.77%	-1,178.91%	-66.98%	-6,391.57%	0.00%	0.00%	0.00%	-243.13%	0.00%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	84.38%	73.16%	72.86%	73.21%	43.11%	78.29%	69.66%	67.36%	75.04%	68.97%	75.34%
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%	-434.97%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	-435.75%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	432.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	-21.06%	-18.40%	-17.53%	-11.50%	-2.66%	-12.05%	-10.09%	0.00%	0.00%	-12.48%	-11.48%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	-17,969.56%	-1,515.31%	-538.98%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	-41.93%	-13.95%	-14.24%	-22.52%	-4.55%	-196.95%	0.00%	0.00%	0.00%	-4.10%	0.00%
Return on Assets (ROA)	-35.38%	-10.21%	-10.38%	-16.49%	-1.96%	-154.18%	0.00%	0.00%	0.00%	-2.83%	0.00%
Return on Common Equity (ROCE)	-21.06%	-18.40%	-17.53%	-11.50%	-2.66%	-12.05%	-10.09%	0.00%	0.00%	-12.48%	-11.48%
Return on Equity Simple (ROE_SIMPLE)	-22.62%	-17.94%	0.00%	-8.48%	-6.70%	-9.23%	0.00%	-7.68%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-15	-11	-11	-14	-9.68	-25	-20	-24	-32	-25	-30
NOPAT Margin	-1,374.04%	-439.77%	-459.00%	-1,127.21%	-108.75%	-5,715.13%	0.00%	0.00%	0.00%	-246.76%	0.00%
Net Nonoperating Expense Percent (NNEP)	-0.91%	-0.14%	-0.14%	-0.13%	0.78%	-0.59%	0.01%	0.11%	-0.28%	0.04%	-0.23%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-3.28%	-	-	-	-1.99%	-2.41%	-3.19%	-2.53%	-3.10%
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	650.99%	255.78%	258.31%	586.50%	87.91%	4,024.37%	0.00%	0.00%	0.00%	106.22%	0.00%
R&D to Revenue	1,411.92%	472.47%	497.40%	1,123.80%	167.45%	4,240.09%	0.00%	0.00%	0.00%	346.29%	0.00%
Operating Expenses to Revenue	2,062.91%	728.25%	755.71%	1,710.30%	255.36%	8,264.46%	0.00%	0.00%	0.00%	452.51%	0.00%
Earnings before Interest and Taxes (EBIT)	-21	-16	-16	-20	-14	-36	-29	-35	-45	-35	-42
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-22	-17	-18	-21	-16	-38	-31	-39	-50	-39	-45
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.66	1.33	1.44	2.97	3.30	3.61	2.75	1.58	1.38	1.50	0.87
Price to Tangible Book Value (P/TBV)	1.66	1.33	1.44	2.97	3.30	3.61	2.75	1.58	1.38	1.50	0.87
Price to Revenue (P/Rev)	63.97	54.93	61.29	266.91	143.59	181.61	265.38	170.93	3,113.77	146.87	83.00
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	471.52	323.31	134.02	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	24.90	13.63	18.73	177.47	100.86	131.18	168.56	62.31	844.95	47.97	0.00
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	-1.02	-1.01	-1.01	-1.00	-0.99	-1.00	-1.00	-1.00	-1.00	-1.01	-1.01
Leverage Ratio	1.13	1.12	1.12	1.08	1.08	1.08	1.05	1.04	1.05	1.05	1.04
Compound Leverage Factor	0.95	0.82	0.82	0.79	0.47	0.84	0.73	0.70	0.78	0.73	0.79
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	7.34	7.74	8.56	35.80	39.33	37.07	44.28	25.70	20.27	18.87	11.65
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	17.28	24.55	26.80	62.09	57.34	38.80	59.21	58.47	47.03	35.86	39.04
Quick Ratio	16.94	24.17	26.40	61.48	56.63	38.32	58.72	57.94	46.59	35.54	38.67
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-21	-18	-18	-24	-25	-24	-18	-19	-15	-14	-22
Operating Cash Flow to CapEx	-2,595.52%	-2,491.28%	-1,922.52%	-7,531.47%	-10,548.42%	-8,924.00%	-39,821.43%	-4,588.68%	-5,034.46%	-13,823.66%	-26,926.42%
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	0.02	0.01	0.03	0.02	0.01	0.01	0.00	0.01	0.01
Accounts Receivable Turnover	0.00	0.00	0.00	11.48	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	1.43	1.22	1.15	1.06	2.27	2.06	1.78	1.63	0.08	2.06	2.29
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	31.78	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	31.78	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-3.82	-0.76	0.32	4.00	11	-1.93	-2.39	-1.68	-5.50	-12	-9.75
Invested Capital Turnover	-1.09	-2.11	-2.71	-9.05	4.00	-9.70	-10.23	8.04	0.15	-1.39	-1.65
Increase / (Decrease) in Invested Capital	6.66	6.48	6.60	9.61	15	-1.16	-2.71	-5.68	-17	-11	-7.35
Enterprise Value (EV)	193	115	151	1,293	1,526	1,712	1,785	582	371	480	-137
Market Capitalization	497	465	495	1,945	2,172	2,370	2,810	1,596	1,367	1,469	830
Book Value per Share	$7.16	$7.56	$7.46	$12.69	$12.68	$12.58	$19.49	$17.13	$16.74	$16.25	$15.91
Tangible Book Value per Share	$7.16	$7.56	$7.46	$12.69	$12.68	$12.58	$19.49	$17.13	$16.74	$16.25	$15.91
Total Capital	299	349	344	656	658	656	1,023	1,012	991	977	957
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	-303	-350	-344	-652	-646	-658	-1,025	-1,014	-996	-989	-967
Capital Expenditures (CapEx)	0.58	0.47	0.52	0.20	0.10	0.03	0.04	0.37	0.47	0.09	0.11
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-12	-8.99	-7.82	-3.71	4.10	-8.88	-8.97	-8.31	-12	-19	-16
Debt-free Net Working Capital (DFNWC)	291	341	336	648	650	649	1,016	1,006	984	970	951
Net Working Capital (NWC)	291	341	336	648	650	649	1,016	1,006	984	970	951
Net Nonoperating Expense (NNE)	2.98	0.50	0.46	0.65	-3.72	2.97	-0.10	-0.92	2.28	-0.36	2.27
Net Nonoperating Obligations (NNO)	-303	-350	-344	-652	-646	-658	-1,025	-1,014	-996	-989	-967
Total Depreciation and Amortization (D&A)	-1.37	-1.61	-1.53	-1.26	-2.47	-2.39	-2.42	-3.70	-4.67	-4.12	-3.06
Debt-free, Cash-free Net Working Capital to Revenue	-153.18%	-106.15%	-96.75%	-50.86%	27.11%	-68.07%	-84.68%	-89.00%	-2,696.36%	-187.38%	-156.77%
Debt-free Net Working Capital to Revenue	3,753.68%	4,024.14%	4,159.45%	8,893.33%	4,299.56%	4,974.70%	9,597.72%	10,773.75%	224,185.42%	9,702.55%	9,508.90%
Net Working Capital to Revenue	3,753.68%	4,024.14%	4,159.45%	8,893.33%	4,299.56%	4,974.70%	9,597.72%	10,773.75%	224,185.42%	9,702.55%	9,508.90%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.42)	($0.25)	($0.23)	($0.30)	($0.11)	($0.51)	($0.36)	($0.38)	($0.55)	($0.39)	($0.51)
Adjusted Weighted Average Basic Shares Outstanding	41.84M	45.71M	44.02M	49.05M	54.45M	54.63M	53.75M	61.79M	61.90M	62.02M	61.97M
Adjusted Diluted Earnings per Share	($0.42)	($0.25)	($0.23)	($0.30)	($0.11)	($0.51)	($0.36)	($0.38)	($0.55)	($0.39)	($0.51)
Adjusted Weighted Average Diluted Shares Outstanding	41.84M	45.71M	44.02M	49.05M	54.45M	54.63M	53.75M	61.79M	61.90M	62.02M	61.97M
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	46.14M	46.17M	51.66M	51.85M	52.16M	52.48M	59.11M	59.18M	60.09M	60.15M	60.83M
Normalized Net Operating Profit after Tax (NOPAT)	-15	-11	-11	-14	-9.68	-25	-20	-24	-32	-25	-30
Normalized NOPAT Margin	-1,374.04%	-439.77%	-459.00%	-1,127.21%	-108.75%	-5,715.13%	0.00%	0.00%	0.00%	-246.76%	0.00%
Pre Tax Income Margin	-1,656.39%	-459.59%	-477.77%	-1,178.91%	-66.98%	-6,391.57%	0.00%	0.00%	0.00%	-243.13%	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, Inc. (NASDAQ: JANX) has shown mixed results over the last four years on a quarterly basis. Below is a concise, data-driven snapshot focused on recent quarters (2025 through the prior four-year window) that highlights cash flow, profitability, and balance-sheet trends for retail investors.

Investing cash flow turned positive in Q4 2025: Net cash from continuing investing activities was +$29.543 million, driven by selling/maturing investments (approx. +$152.926 million) more than purchases (approx. −$123.277 million).
Financing cash flow remained modestly positive in Q4 2025: Net cash from financing activities was +$2.944 million, continuing a pattern of small external funding inflows.
Healthy equity cushion with low leverage (Q3 2025): Total assets about $1.0246B, total equity about $0.9766B, and total liabilities around $48.2M, indicating a solid equity base relative to modest liabilities.
Modest topline in Q3 2025: Operating revenue of $10.0M with gross profit of $10.0M, though the company still reports operating losses.
Share count and earnings per share remain negative, but relatively stable: Weighted-average basic shares ~61.9M–62.0M; basic and diluted EPS around −$0.39 to −$0.55 in recent quarters.
Cash balance has fluctuated but remained in the tens of millions: Cash & equivalents around $48.4M in Q3 2025, down from about $73.7M in Q1 2025.
R&D and SG&A burn remains meaningful: R&D in the mid-$30M range and SG&A around $10–$11M per quarter in recent periods, indicating ongoing development spend.
Net losses persist across 2025: Consolidated net income ranges from approximately −$23.5M (Q1 2025) to −$33.9M (Q2 2025) and −$31.9M (Q4 2025).
Operating cash burn remains elevated: Net cash from continuing operating activities was −$28.5M (Q4 2025), −$12.9M (Q3 2025), −$23.8M (Q2 2025), and −$17.0M (Q1 2025).
Accumulated deficits on the balance sheet: Retained earnings negative, roughly −$319.4M (Q3 2025) and around −$261.3M (Q1 2025), reflecting ongoing cumulative losses.

05/05/26 04:39 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Janux Therapeutics' Financials

When does Janux Therapeutics' fiscal year end?

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

How has Janux Therapeutics' net income changed over the last 5 years?

Janux Therapeutics' net income appears to be on an upward trend, with a most recent value of -$113.63 million in 2025, rising from -$6.78 million in 2020. The previous period was -$68.99 million in 2024. See Janux Therapeutics' forecast for analyst expectations on whatâ€™s next for the company.

What is Janux Therapeutics' operating income?

Janux Therapeutics' total operating income in 2025 was -$157.67 million, based on the following breakdown:

Total Gross Profit: $10 million
Total Operating Expenses: $167.67 million

How has Janux Therapeutics' revenue changed over the last 5 years?

Over the last 5 years, Janux Therapeutics' total revenue changed from $0.00 in 2020 to $10 million in 2025, a change of 1,000,000,000.0%.

How much debt does Janux Therapeutics have?

Janux Therapeutics' total liabilities were at $44.74 million at the end of 2025, a 15.5% increase from 2024, and a 384.7% increase since 2020.

How much cash does Janux Therapeutics have?

In the past 5 years, Janux Therapeutics' cash and equivalents has ranged from $7.81 million in 2020 to $430.61 million in 2024, and is currently $52.33 million as of their latest financial filing in 2025.

How has Janux Therapeutics' book value per share changed over the last 5 years?

Over the last 5 years, Janux Therapeutics' book value per share changed from -16.00 in 2020 to 15.91 in 2025, a change of -199.5%.

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Financial statements for NASDAQ:JANX last updated on 2/27/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Janux Therapeutics (JANX) Financials

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Janux Therapeutics (JANX) Financials

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