Jade Biosciences (JBIO) Financials

$22.21 0.00 (0.00%)

Closing price 05/22/2026 04:00 PM Eastern

Extended Trading

$22.24 +0.03 (+0.14%)

As of 05/22/2026 06:21 PM Eastern

Annual Income Statements for Jade Biosciences

This table shows Jade Biosciences' 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	-9.61	-23	-52	-76	-70	-127
Consolidated Net Income / (Loss)	-19	-23	-103	-76	-70	-127
Net Income / (Loss) Continuing Operations	-9.61	-23	-103	-76	-70	-127
Total Pre-Tax Income	-9.61	-23	-51	-75	-70	-127
Total Operating Income	-8.89	-23	-53	-81	-75	-114
Total Gross Profit	0.00	0.00	0.00	0.00	0.00	0.00
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Total Cost of Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	8.89	23	106	81	75	114
Selling, General & Admin Expense	0.95	8.04	15	17	21	20
Research & Development Expense	7.94	15	39	64	53	93
Total Other Income / (Expense), net	-0.72	0.12	3.50	5.94	5.02	-14
Interest & Investment Income	-0.08	0.07	1.83	5.95	5.04	7.78
Other Income / (Expense), net	-0.65	0.06	1.67	-	-	-22
Income Tax Expense	0.00	0.00	0.03	0.06	0.06	0.06
Basic Earnings per Share	($40.31)	($1.87)	($2.10)	($2.87)	($2.44)	($3,196.49)
Weighted Average Basic Shares Outstanding	242.23K	12.29M	24.47M	26.33M	28.58M	31.37M
Diluted Earnings per Share	($40.31)	($1.87)	($2.10)	($2.87)	($2.44)	($3,196.49)
Weighted Average Diluted Shares Outstanding	242.23K	12.29M	24.47M	26.33M	28.58M	31.37M
Weighted Average Basic & Diluted Shares Outstanding	242.23K	12.29M	24.81M	27.86M	28.99M	49.32M

This table shows Jade Biosciences' 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	-20	-20	-23	-25	-17	-5.43	-38	-32	-25	-68	-40
Consolidated Net Income / (Loss)	-20	-20	-23	-25	-17	-5.43	-38	-32	-25	-68	-40
Net Income / (Loss) Continuing Operations	-20	-20	-23	-25	-17	-5.43	-38	-32	-25	-68	-40
Total Pre-Tax Income	-20	-20	-23	-25	-17	-5.38	-38	-32	-25	-68	-40
Total Operating Income	-21	-22	-25	-26	-16	-6.40	-23	-28	-27	-55	-43
Total Gross Profit	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Revenue	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	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	21	22	25	26	16	6.40	23	28	27	55	43
Selling, General & Admin Expense	4.48	4.25	4.54	4.92	1.90	4.87	3.36	5.23	5.39	6.41	7.39
Research & Development Expense	17	18	20	21	14	1.53	20	23	22	49	36
Total Other Income / (Expense), net	1.81	1.71	1.43	1.39	-1.31	1.03	-15	-4.36	2.23	-13	3.09
Interest & Investment Income	1.80	1.71	1.44	1.40	0.39	1.03	0.62	1.83	2.25	2.83	3.10
Other Income / (Expense), net	0.00	-	-	-0.01	-1.70	-	-15	-6.18	0.04	-	0.00
Income Tax Expense	-	-	-	-	-	-	0.00	-	-	-	0.02
Basic Earnings per Share	($0.71)	($0.73)	($0.83)	($0.86)	($5.35)	($0.19)	($12.10)	($0.86)	($0.48)	($2.15)	($0.57)
Weighted Average Basic Shares Outstanding	27.64M	26.33M	27.80M	28.76M	3.16M	28.58M	3.16M	28.43M	39.58M	31.37M	57.78M
Diluted Earnings per Share	($0.71)	($0.73)	($0.83)	($0.86)	($5.35)	($0.19)	($12.10)	($0.86)	($0.48)	($2.15)	($0.57)
Weighted Average Diluted Shares Outstanding	27.64M	26.33M	27.80M	28.76M	3.16M	28.58M	3.16M	28.43M	39.58M	31.37M	57.78M
Weighted Average Basic & Diluted Shares Outstanding	27.67M	27.86M	28.81M	28.87M	28.87M	28.99M	28.99M	32.63M	46.00M	49.32M	49.36M

This table details how cash moves in and out of Jade Biosciences' 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	1.06	50	-32	1.09	10	19
Net Cash From Operating Activities	-7.86	-27	-39	-57	-71	-95
Net Cash From Continuing Operating Activities	-7.86	-27	-39	-57	-71	-95
Net Income / (Loss) Continuing Operations	-9.61	-23	-52	-76	-70	-127
Consolidated Net Income / (Loss)	-9.61	-23	-52	-76	-70	-127
Depreciation Expense	0.00	0.02	0.07	0.10	0.28	0.03
Amortization Expense	0.00	0.02	-0.91	-3.06	-2.25	-0.78
Non-Cash Adjustments To Reconcile Net Income	0.78	2.04	5.48	12	12	42
Changes in Operating Assets and Liabilities, net	0.97	-6.51	7.76	9.82	-11	-8.24
Net Cash From Investing Activities	0.00	-113	6.93	12	56	-247
Net Cash From Continuing Investing Activities	0.00	-113	6.93	12	56	-247
Purchase of Property, Plant & Equipment	0.00	-0.18	-0.20	-0.14	0.00	-0.20
Purchase of Investments	0.00	-113	-148	-124	-20	-261
Sale and/or Maturity of Investments	-	0.00	155	136	76	14
Other Investing Activities, net	-	-	-	-	-	-0.03
Net Cash From Financing Activities	8.92	190	0.40	46	25	361
Net Cash From Continuing Financing Activities	8.92	190	0.40	46	25	361
Repayment of Debt	-	-	-	-	-	189
Issuance of Debt	2.50	-	-	-	-	0.00
Issuance of Common Equity	0.00	127	0.15	45	24	171
Other Financing Activities, net	0.01	0.00	0.62	0.99	1.48	0.24
Other Net Changes in Cash	-	-	-	-	-	-0.02

This table details how cash moves in and out of Jade Biosciences' 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	-29	-8.69	-14	22	0.05	2.64	-19	141	-171	38	-33
Net Cash From Operating Activities	-16	-15	-24	-20	-16	-11	-19	-37	-22	-34	-24
Net Cash From Continuing Operating Activities	-16	-15	-24	-20	-16	-11	-19	-37	-22	-34	-24
Net Income / (Loss) Continuing Operations	-20	-20	-23	-25	-16	-5.43	-38	-68	-25	-32	-40
Consolidated Net Income / (Loss)	-20	-20	-23	-25	-16	-5.43	-38	-68	-25	-32	-40
Depreciation Expense	0.03	0.03	0.03	0.03	0.22	0.01	0.00	0.00	0.01	0.01	0.01
Amortization Expense	-0.81	-0.94	-0.76	-0.69	-0.46	-0.34	0.00	-	-	-0.61	-0.49
Non-Cash Adjustments To Reconcile Net Income	3.24	3.23	4.19	3.88	2.00	1.50	18	27	4.10	9.64	7.40
Changes in Operating Assets and Liabilities, net	1.50	3.30	-3.94	1.13	-1.57	-6.79	1.69	4.23	-0.72	-11	9.37
Net Cash From Investing Activities	-13	5.65	8.83	18	16	13	0.00	-13	-149	-98	-8.47
Net Cash From Continuing Investing Activities	-13	5.65	8.83	18	16	13	0.00	-13	-149	-98	-8.47
Purchase of Property, Plant & Equipment	-0.03	-0.06	-	-	-	-	-	-	-0.06	-0.00	0.00
Purchase of Investments	-48	-28	-15	-	-4.93	-	0.00	-	-	-113	-74
Sale and/or Maturity of Investments	35	34	24	18	21	13	0.00	-	-	-	65
Net Cash From Financing Activities	0.02	0.46	0.47	24	0.02	0.55	-0.70	191	-	170	-0.80
Net Cash From Continuing Financing Activities	0.02	0.46	0.47	24	0.02	0.55	-0.70	191	-0.16	170	-0.80
Repayment of Debt	-	-	-	-	-	-	0.00	-	-	-1.34	-0.84
Other Financing Activities, net	0.10	0.34	0.70	0.51	0.02	0.25	-0.70	0.16	-0.16	0.24	0.05
Other Net Changes in Cash	-	-	-	-	-	-	0.00	-	-	-0.02	-0.01

This table presents Jade Biosciences' 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	4.72	175	135	127	73	350
Total Current Assets	4.68	174	131	124	70	349
Cash & Equivalents	4.57	54	22	23	69	88
Short-Term Investments	-	113	107	99	0.00	248
Prepaid Expenses	0.10	6.96	2.28	1.79	0.27	13
Plant, Property, & Equipment, net	0.04	0.19	0.24	0.29	0.00	0.17
Total Noncurrent Assets	0.00	0.84	3.56	2.90	3.15	0.80
Other Noncurrent Operating Assets	0.00	0.84	3.56	2.90	3.15	0.80
Total Liabilities & Shareholders' Equity	4.72	175	135	127	73	350
Total Liabilities	1.77	2.95	8.56	18	120	17
Total Current Liabilities	1.77	2.55	7.78	18	12	17
Accounts Payable	0.62	1.21	2.58	2.40	1.29	2.15
Accrued Expenses	1.16	1.15	4.82	15	9.63	14
Other Current Liabilities	0.00	0.19	0.39	0.42	1.08	0.00
Total Noncurrent Liabilities	0.00	0.40	0.78	0.33	108	0.72
Long-Term Debt	-	-	-	-	108	0.00
Other Noncurrent Operating Liabilities	0.00	0.40	0.78	0.33	0.00	0.72
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-13	172	127	109	-47	333
Total Preferred & Common Equity	-13	172	127	109	-47	333
Preferred Stock	-	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-13	172	127	109	-47	333
Common Stock	0.06	209	215	273	0.18	507
Retained Earnings	-13	-36	-88	-163	-47	-174
Accumulated Other Comprehensive Income / (Loss)	-	-0.06	-0.47	0.24	0.00	0.13

This table presents Jade Biosciences' 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	156	141	107	112	91	78	224	202	319
Total Current Assets	152	138	103	111	91	77	223	201	319
Cash & Equivalents	61	32	9.12	31	31	44	221	50	55
Short-Term Investments	89	103	90	73	58	32	-	149	256
Prepaid Expenses	2.37	2.40	3.91	6.56	1.88	1.16	2.04	2.46	7.22
Plant, Property, & Equipment, net	0.25	0.32	0.26	0.23	0.01	0.00	0.15	0.18	0.16
Total Noncurrent Assets	3.04	2.96	3.32	0.70	0.34	0.16	0.84	0.91	0.76
Other Noncurrent Operating Assets	3.04	2.96	3.32	0.70	0.34	0.16	0.84	0.91	0.76
Total Liabilities & Shareholders' Equity	156	141	107	112	91	78	224	202	319
Total Liabilities	14	15	16	17	10	2.49	22	23	23
Total Current Liabilities	13	15	16	17	10	2.42	22	22	22
Accounts Payable	5.53	3.50	3.31	4.18	0.91	0.07	7.59	1.35	3.98
Accrued Expenses	7.38	11	12	12	8.95	2.04	10	16	16
Other Current Liabilities	0.38	0.45	0.45	0.48	0.46	0.31	3.56	4.95	2.67
Total Noncurrent Liabilities	0.55	0.43	0.40	0.28	0.15	0.07	0.79	0.75	0.68
Long-Term Debt	-	-	-	-	-	-	0.00	0.00	0.00
Other Noncurrent Operating Liabilities	0.55	0.43	0.40	0.28	0.15	0.07	0.79	0.75	0.68
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	142	126	91	94	80	75	202	179	296
Total Preferred & Common Equity	142	126	91	94	80	75	202	179	296
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	142	126	91	94	80	75	202	179	296
Common Stock	266	269	278	306	308	311	319	322	512
Retained Earnings	-123	-143	-187	-211	-228	-236	-117	-142	-215
Accumulated Other Comprehensive Income / (Loss)	-0.22	-0.20	-0.03	-0.08	0.22	0.05	-0.02	0.03	-0.34

This table displays calculated financial ratios and metrics derived from Jade Biosciences' official financial filings.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	0.00	24,410,393.00	24,605,073.00	27,668,887.00	-	46,004,205.00
DEI Adjusted Shares Outstanding	0.00	697,440.00	703,002.00	790,540.00	-	46,004,205.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	-32.92	-73.85	-95.53	-	-2.77
Growth Metrics	-	-	-	-	-	-
Profitability Metrics	-	-	-	-	-	-
Net Operating Profit after Tax (NOPAT)	-6.22	-16	-37	-57	-52	-79
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-52.06%	-68.32%	-23.90%
Earnings before Interest and Taxes (EBIT)	-9.54	-23	-52	-81	-75	-135
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-9.54	-23	-52	-84	-77	-136
Valuation Ratios	-	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-23	-30	-46	-63	-78
Efficiency Ratios	-	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-	-
Invested Capital	-1.63	5.04	-2.48	-13	-2.19	-3.64
Increase / (Decrease) in Invested Capital	0.00	6.68	-7.52	-11	11	-1.45
Book Value per Share	($55.09)	$7.06	$5.15	$3.96	$2.65	$7.23
Tangible Book Value per Share	($55.09)	$7.06	$5.15	$3.96	$2.65	$7.23
Total Capital	2.94	172	127	109	76	333
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	-4.57	-167	-129	-122	-79	-336
Capital Expenditures (CapEx)	0.00	0.18	0.20	0.14	0.00	0.20
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1.67	4.41	-5.51	-16	-2.33	-3.88
Debt-free Net Working Capital (DFNWC)	2.90	172	124	107	76	332
Net Working Capital (NWC)	2.90	172	124	107	76	332
Net Nonoperating Expense (NNE)	13	6.85	66	19	17	48
Net Nonoperating Obligations (NNO)	-4.57	-167	-129	-122	-79	-336
Total Depreciation and Amortization (D&A)	0.00	0.03	-0.84	-2.96	-1.97	-0.76
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($1.87)	($2.10)	($2.87)	($2.44)	($3,196.49)
Adjusted Weighted Average Basic Shares Outstanding	0.00	24.41M	24.47M	26.33M	28.58M	31.37M
Adjusted Diluted Earnings per Share	$0.00	($1.87)	($2.10)	($2.87)	($2.44)	($3,196.49)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	24.41M	24.47M	26.33M	28.58M	31.37M
Adjusted Basic & Diluted Earnings per Share	$0.00	($1.87)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	12.29M	24.81M	27.86M	28.99M	49.32M
Normalized Net Operating Profit after Tax (NOPAT)	-6.22	-16	-37	-57	-52	-79
Debt Service Ratios	-	-	-	-	-	-
Payout Ratios	-	-	-	-	-	-

This table displays calculated financial ratios and metrics derived from Jade Biosciences' 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	27,649,226.00	27,668,887.00	27,862,961.00	28,808,334.00	28,867,711.00	-	-	28,985,019.00	32,626,730.00	46,004,205.00	49,316,287.00
DEI Adjusted Shares Outstanding	789,978.00	790,540.00	796,085.00	823,095.00	824,792.00	-	-	828,143.00	32,626,730.00	46,004,205.00	49,316,287.00
DEI Earnings Per Adjusted Shares Outstanding	-24.79	-25.79	-29.13	-30.10	-19.73	-	-	-38.80	-0.77	-1.47	-0.82
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
EBITDA Growth	-53.61%	-39.96%	-38.59%	-28.07%	23.67%	70.71%	85.77%	-26.55%	-56.33%	-	-13.27%
EBIT Growth	-51.02%	-39.21%	-39.56%	-28.69%	22.01%	70.98%	86.24%	-29.77%	-58.60%	-	-12.02%
NOPAT Growth	-50.99%	-39.21%	-39.57%	-28.66%	29.97%	70.98%	86.24%	-6.16%	-76.16%	-	-85.79%
Net Income Growth	-43.97%	69.32%	-40.35%	-30.22%	16.80%	73.40%	89.14%	-29.70%	-49.26%	-	-5.76%
EPS Growth	-26.79%	-21.67%	-23.88%	-13.16%	16.80%	73.97%	89.16%	0.00%	91.03%	-	95.29%
Operating Cash Flow Growth	-60.61%	0.44%	-107.22%	-36.74%	-2.77%	25.36%	89.94%	-78.80%	-37.90%	-	-28.38%
Free Cash Flow Firm Growth	-19.01%	-38.16%	-159.59%	-138.30%	-31.30%	-209.22%	34.16%	40.88%	35.20%	-	29.16%
Invested Capital Growth	-175.47%	-424.14%	-44.50%	-20.00%	13.08%	83.14%	86.19%	-97.74%	-137.45%	-	-1,174.31%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
EBITDA Q/Q Growth	-5.71%	-3.73%	-10.32%	-5.85%	36.99%	61.87%	46.40%	-841.27%	19.45%	-	20.96%
EBIT Q/Q Growth	-5.06%	-3.27%	-11.57%	-6.30%	36.32%	63.22%	47.10%	-902.72%	19.42%	-	20.97%
NOPAT Q/Q Growth	-5.07%	-3.27%	-11.57%	-6.28%	42.81%	63.22%	47.10%	-720.14%	1.36%	-	20.97%
Net Income Q/Q Growth	-2.83%	-4.34%	-13.58%	-6.85%	34.30%	66.56%	53.63%	-1,176.17%	21.66%	-	40.27%
EPS Q/Q Growth	6.58%	-2.82%	-13.70%	-3.61%	34.30%	66.07%	52.63%	-855.56%	44.19%	-	73.49%
Operating Cash Flow Q/Q Growth	-4.47%	5.20%	-59.95%	13.69%	21.48%	31.14%	78.45%	-1,434.44%	39.44%	-	28.43%
Free Cash Flow Firm Q/Q Growth	-27.45%	44.63%	-196.28%	-13.97%	29.78%	-13.78%	36.92%	-2.34%	20.32%	-	54.79%
Invested Capital Q/Q Growth	-15.99%	-37.01%	35.07%	-16.30%	15.98%	73.42%	46.83%	-1,565.46%	-0.89%	-	-307.50%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
EBITDA Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Operating Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
EBIT Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Profit (Net Income) Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Tax Burden Percent	100.00%	100.28%	100.00%	100.00%	100.00%	101.02%	100.00%	100.00%	100.25%	-	100.04%
Interest Burden Percent	91.56%	92.26%	94.18%	94.67%	97.67%	83.95%	74.34%	94.62%	91.76%	-	92.88%
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%	-	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	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%	0.00%	0.00%	0.00%	-	0.00%
Return on Equity (ROE)	-91.85%	-63.95%	-80.58%	-138.33%	-82.67%	-74.91%	-59.01%	-38.06%	-49.74%	-	-69.77%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Operating Return on Assets (OROA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Return on Assets (ROA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Return on Common Equity (ROCE)	-91.85%	-63.95%	-80.58%	-138.33%	-82.67%	-74.91%	-59.01%	-38.06%	-49.74%	-	-69.77%
Return on Equity Simple (ROE_SIMPLE)	-96.75%	0.00%	-90.41%	-173.16%	0.00%	0.00%	-65.24%	0.00%	0.00%	-	0.00%
Net Operating Profit after Tax (NOPAT)	-15	-15	-17	-18	-10	-4.48	-2.37	-19	-19	-38	-30
NOPAT Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Net Nonoperating Expense Percent (NNEP)	-3.32%	-3.95%	-5.46%	-5.08%	-5.18%	-0.94%	-0.17%	-7.81%	-4.17%	-	-5.14%
Return On Investment Capital (ROIC_SIMPLE)	-	-14.11%	-18.96%	-	-13.01%	-5.86%	-3.16%	-9.65%	-10.69%	-11.57%	-10.26%
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	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Operating Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Earnings before Interest and Taxes (EBIT)	-21	-22	-25	-26	-17	-6.40	-3.39	-34	-27	-55	-43
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-22	-23	-25	-27	-17	-6.73	-3.61	-34	-27	-56	-44
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.98	5.72	9.06	0.51	0.08	1.00	0.97	0.04	1.57	-	2.34
Price to Tangible Book Value (P/TBV)	2.98	5.72	9.06	0.51	0.08	1.00	0.97	0.04	1.57	-	2.34
Price to Revenue (P/Rev)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	24.02%	27.81%	-	17.08%
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	-	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	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	0.00	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
Financial Leverage	-1.05	-1.07	-1.07	-1.08	-1.09	-1.08	-1.06	-1.10	-1.11	-	-1.04
Leverage Ratio	1.09	1.11	1.13	1.13	1.12	1.12	1.11	1.13	1.13	-	1.07
Compound Leverage Factor	1.00	1.03	1.07	1.07	1.10	0.94	0.83	1.07	1.04	-	0.99
Debt to Total Capital	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%
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%
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	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
Net Debt to EBITDA	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
Debt to NOPAT	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
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
Altman Z-Score	13.98	19.55	28.84	-0.76	-2.69	8.59	14.31	0.07	6.94	-	17.82
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	9.34	7.04	6.65	6.51	8.78	20.93	32.01	10.31	9.01	-	14.29
Quick Ratio	9.18	6.94	6.40	6.12	8.60	20.54	31.53	10.22	8.90	-	13.96
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-8.92	-4.94	-15	-17	-12	-15	-9.64	-9.86	-7.86	-37	-17
Operating Cash Flow to CapEx	-48,784.38%	-23,125.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-38,814.04%	-	0.00%
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
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
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
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Accounts Receivable Turnover	0.00	0.00	0.00	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
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
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)	0.00	0.00	0.00	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
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)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-9.48	-13	-8.43	-9.80	-8.24	-2.19	-1.16	-19	-20	-3.64	-15
Invested Capital Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Increase / (Decrease) in Invested Capital	-6.04	-11	-2.60	-1.63	1.24	11	7.27	-9.58	-11	-1.45	-14
Enterprise Value (EV)	240	504	725	-56	-82	-2.11	-3.46	-213	83	-	382
Market Capitalization	375	626	824	48	6.30	77	73	8.27	282	-	693
Book Value per Share	$4.55	$3.96	$3.26	$3.28	$2.79	$2.65	$2.59	$6.95	$5.50	$7.23	$6.01
Tangible Book Value per Share	$4.55	$3.96	$3.26	$3.28	$2.79	$2.65	$2.59	$6.95	$5.50	$7.23	$6.01
Total Capital	126	109	91	94	80	76	75	202	179	333	296
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	-135	-122	-99	-104	-89	-79	-76	-221	-199	-336	-311
Capital Expenditures (CapEx)	0.03	0.06	0.00	0.00	0.00	0.00	0.00	0.00	0.06	0.00	0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-12	-16	-12	-10	-8.44	-2.33	-1.25	-20	-20	-3.88	-15
Debt-free Net Working Capital (DFNWC)	123	107	88	94	80	76	75	201	179	332	296
Net Working Capital (NWC)	123	107	88	94	80	76	75	201	179	332	296
Net Nonoperating Expense (NNE)	4.61	4.97	5.95	6.46	5.80	0.95	0.15	13	5.99	29	9.96
Net Nonoperating Obligations (NNO)	-135	-122	-99	-104	-89	-79	-76	-221	-199	-336	-311
Total Depreciation and Amortization (D&A)	-0.78	-0.91	-0.73	-0.66	-0.24	-0.33	-0.22	0.00	0.01	-0.60	-0.48
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Debt-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.71)	($0.73)	($0.83)	($0.86)	($19.60)	($0.19)	($0.09)	($0.86)	($0.48)	($2.15)	($0.57)
Adjusted Weighted Average Basic Shares Outstanding	27.64M	26.33M	27.80M	28.76M	824.67K	28.58M	28.99M	28.43M	39.58M	31.37M	57.78M
Adjusted Diluted Earnings per Share	($0.71)	($0.73)	($0.83)	($0.86)	($19.60)	($0.19)	($0.09)	($0.86)	($0.48)	($2.15)	($0.57)
Adjusted Weighted Average Diluted Shares Outstanding	27.64M	26.33M	27.80M	28.76M	824.67K	28.58M	28.99M	28.43M	39.58M	31.37M	57.78M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	($2.15)	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	27.67M	27.86M	28.81M	28.87M	824.99K	28.99M	28.99M	32.63M	46.00M	49.32M	49.36M
Normalized Net Operating Profit after Tax (NOPAT)	-15	-15	-17	-18	-10	-4.48	-2.37	-19	-19	-38	-30
Normalized NOPAT Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Pre Tax Income Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	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
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
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
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	-0.39%	-0.31%	-0.57%	-0.23%	-0.36%	-0.44%	-0.15%	0.00%	0.00%	-	0.00%

Financials Breakdown Chart

Key Financial Trends

Here are the key takeaways from JBIO's quarterly statements over the last few years, focusing on cash flow, profitability, and balance-sheet liquidity.

Significant financing inflows in 2025 boosted liquidity: net cash from financing activities was about $190.6 million in Q2 2025 and about $170.2 million in Q4 2025, helping fund operations while the business remains pre-revenue.
No long-term debt in the latest periods reduces leverage risk: Long-Term Debt sits at $0 in the recent Q2–Q3 2025 balance sheets.
Strong near-term liquidity at mid-2025: cash and cash equivalents around $221 million in Q2 2025 provide runway to support ongoing R&D and operations.
Revenue generation remains effectively zero: total revenue consistently reported as $0 across 2024–2025 quarters, indicating no product sales to date.
Ongoing equity dilution risk: there have been common equity issuances (e.g., late-2024) that expand the share base and could dilute existing holders.
Investing activity has been a cash outflow in several periods: sizable purchases of investments in multiple quarters (e.g., large outflows in Q3 2025 and Q4 2025) reducing cash from investing.
Persistent quarterly net losses: examples include large negative net income in several quarters (e.g., Q4 2025 around -$67.6m; Q2 2025 around -$67.8m; Q3 2025 around -$25.2m; Q1 2025 around -$2.5m).
Operating cash flow remains negative in most quarters: net cash from operating activities shows meaningful burn (e.g., Q4 2025 about -$33.6m; Q2 2025 about -$36.5m; Q3 2025 about -$22.0m; Q1 2025 around -$2.4m).
Significant negative retained earnings, signaling accumulated losses: large negative retained earnings (e.g., roughly -$142m in 2025 Q4; substantial negatives in earlier periods) reflect ongoing losses against equity.
Dilution pressure alongside negative earnings could add headwind for shareholders: sustained equity financings combined with losses may pressurize the stock’s value if the capital is not deployed into revenue-generating activities.

05/26/26 04:43 AM ETAI Generated. May Contain Errors.

Jade Biosciences Financials - Frequently Asked Questions

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

Jade Biosciences' net income appears to be on an upward trend, with a most recent value of -$127.41 million in 2025, rising from -$19.22 million in 2020. The previous period was -$69.63 million in 2024. See where experts think Jade Biosciences is headed by visiting Jade Biosciences' forecast page.

Jade Biosciences' total operating income in 2025 was -$113.54 million, based on the following breakdown:

Total Gross Profit: $0.00
Total Operating Expenses: $113.54 million

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

Jade Biosciences' total liabilities were at $17.26 million at the end of 2025, a 85.6% decrease from 2024, and a 873.1% increase since 2020.

In the past 5 years, Jade Biosciences' cash and equivalents has ranged from $4.57 million in 2020 to $88.44 million in 2025, and is currently $88.44 million as of their latest financial filing in 2025.

Over the last 5 years, Jade Biosciences' book value per share changed from -55.09 in 2020 to 7.23 in 2025, a change of -113.1%.

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Financial statements for NASDAQ:JBIO last updated on 5/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Jade Biosciences (JBIO) Financials

Financials Breakdown Chart

Key Financial Trends

Jade Biosciences Financials - Frequently Asked Questions

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Jade Biosciences (JBIO) Financials

Annual Income Statements for Jade Biosciences

Quarterly Income Statements for Jade Biosciences

Annual Cash Flow Statements for Jade Biosciences

Quarterly Cash Flow Statements for Jade Biosciences

Annual Balance Sheets for Jade Biosciences

Quarterly Balance Sheets for Jade Biosciences

Annual Metrics And Ratios for Jade Biosciences

Quarterly Metrics And Ratios for Jade Biosciences

Financials Breakdown Chart

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Jade Biosciences Financials - Frequently Asked Questions

When does Jade Biosciences' financial year end?

How has Jade Biosciences' net income changed over the last 5 years?

What is Jade Biosciences' operating income?

How has Jade Biosciences' revenue changed over the last 5 years?

How much debt does Jade Biosciences have?

How much cash does Jade Biosciences have?

How has Jade Biosciences' book value per share changed over the last 5 years?

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