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MoonLake Immunotherapeutics (MLTX) Financials

MoonLake Immunotherapeutics logo
$18.39 -0.02 (-0.11%)
Closing price 05/14/2026 04:00 PM Eastern
Extended Trading
$18.12 -0.27 (-1.44%)
As of 08:00 AM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for MoonLake Immunotherapeutics

Annual Income Statements for MoonLake Immunotherapeutics

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

Metric 2021 2022 2023 2024 2025
Period end date 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -4.54 -50 -36 -119 -227
Consolidated Net Income / (Loss)		 -4.54 -65 -44 -121 -230
Net Income / (Loss) Continuing Operations		 -4.54 -65 -44 -121 -230
Total Pre-Tax Income 		-4.54 -64 -44 -121 -230
Total Operating Income		 -4.57 -65 -54 -143 -245
Total Gross Profit		 0.00 0.00 0.00 0.00 0.00
Total Revenue		 0.00 0.00 0.00 0.00 0.00
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.00
Total Operating Expenses		 4.57 65 54 143 245
Selling, General & Admin Expense		 4.57 23 22 30 42
Research & Development Expense		 - 42 32 113 203
Total Other Income / (Expense), net		 0.03 0.59 10 22 15
Interest Expense		 - - 0.00 0.00 7.25
Other Income / (Expense), net		 - 0.59 10 22 22
Income Tax Expense		 - 0.04 0.09 0.28 0.61
Net Income / (Loss) Attributable to Noncontrolling Interest		 - -15 -8.07 -2.31 -3.00
Basic Earnings per Share		 ($0.31) ($1.70) ($0.73) ($1.89) ($3.53)
Weighted Average Basic Shares Outstanding		 14.81M 29.36M 49.12M 62.87M 64.46M
Diluted Earnings per Share		 ($0.31) ($1.70) ($0.73) ($1.89) ($3.53)
Weighted Average Diluted Shares Outstanding		 14.81M 29.36M 49.12M 62.87M 64.46M
Weighted Average Basic & Diluted Shares Outstanding		 11.93M 52.70M 63.89M 64.01M 71.73M

Quarterly Income Statements for MoonLake Immunotherapeutics

This table shows MoonLake Immunotherapeutics' 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		 -9.43 -7.44 -14 -24 -35 -46 -40 -55 -70 -62 -70
Consolidated Net Income / (Loss)		 -12 -7.89 -14 -25 -36 -46 -41 -56 -71 -63 -70
Net Income / (Loss) Continuing Operations		 -12 -7.89 -14 -25 -36 -46 -41 -56 -71 -63 -70
Total Pre-Tax Income 		-12 -7.84 -14 -25 -36 -46 -40 -56 -71 -63 -69
Total Operating Income		 -13 -15 -20 -31 -43 -50 -47 -61 -71 -65 -70
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		 13 15 20 31 43 50 47 61 71 65 70
Selling, General & Admin Expense		 5.39 6.93 6.81 6.92 7.38 9.22 11 11 11 9.21 16
Research & Development Expense		 7.59 8.10 13 24 36 40 36 50 61 56 55
Total Other Income / (Expense), net		 1.39 7.19 5.92 5.90 7.09 3.23 7.08 4.74 0.86 2.45 0.94
Interest Expense		 - - 0.00 0.00 0.00 - 0.02 2.04 3.20 2.00 2.27
Other Income / (Expense), net		 1.39 7.19 5.92 5.90 7.09 3.23 7.10 6.78 4.05 4.44 3.21
Income Tax Expense		 0.03 0.04 0.07 0.08 0.09 0.04 0.15 0.10 0.12 0.25 0.62
Net Income / (Loss) Attributable to Noncontrolling Interest		 -2.19 -0.45 -0.30 -0.49 -0.72 -0.79 -0.62 -0.83 -0.97 -0.59 0.00
Basic Earnings per Share		 ($0.18) $0.37 ($0.22) ($0.39) ($0.56) ($0.50) ($0.63) ($0.87) ($1.10) ($0.93) ($0.98)
Weighted Average Basic Shares Outstanding		 53.52M 49.12M 62.64M 62.87M 62.90M 62.87M 63.23M 63.28M 63.37M 64.46M 71.27M
Diluted Earnings per Share		 ($0.18) $0.37 ($0.22) ($0.39) ($0.56) ($0.50) ($0.63) ($0.87) ($1.10) ($0.93) ($0.98)
Weighted Average Diluted Shares Outstanding		 53.52M 49.12M 62.64M 62.87M 62.90M 62.87M 63.23M 63.28M 63.37M 64.46M 71.27M
Weighted Average Basic & Diluted Shares Outstanding		 62.45M 63.89M 63.87M 63.88M 63.91M 64.01M 64.20M 64.23M 64.23M 71.73M 73.62M

Annual Cash Flow Statements for MoonLake Immunotherapeutics

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

Metric 2021 2022 2023 2024 2025
Period end date 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -0.67 31 412 -271 154
Net Cash From Operating Activities		 -0.61 -56 -43 -117 -196
Net Cash From Continuing Operating Activities		 -0.61 -56 -43 -117 -196
Net Income / (Loss) Continuing Operations		 0.00 -65 -44 -121 -230
Consolidated Net Income / (Loss)		 - -65 -44 -121 -230
Depreciation Expense		 - 0.16 0.37 1.39 2.62
Non-Cash Adjustments To Reconcile Net Income		 -4.57 9.87 7.08 5.63 11
Changes in Operating Assets and Liabilities, net		 3.96 -1.43 -6.15 -2.36 21
Net Cash From Investing Activities		 0.00 -32 -25 -206 203
Net Cash From Continuing Investing Activities		 0.00 -32 -25 -206 203
Purchase of Property, Plant & Equipment		 - -0.02 -0.28 -0.52 -0.04
Purchase of Investments		 0.00 -42 -176 -350 -265
Sale and/or Maturity of Investments		 - 9.90 151 145 468
Net Cash From Financing Activities		 -0.06 120 480 51 146
Net Cash From Continuing Financing Activities		 -0.06 120 480 51 146
Issuance of Debt		 - - 0.00 0.00 73
Issuance of Common Equity		 0.00 0.00 482 53 72
Other Financing Activities, net		 - 135 -2.75 -1.23 0.58
Other Net Changes in Cash		 - 0.01 -0.08 0.13 1.11
Cash Interest Paid		 - - 0.00 0.00 5.06

Quarterly Cash Flow Statements for MoonLake Immunotherapeutics

This table details how cash moves in and out of MoonLake Immunotherapeutics' 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		 -184 133 7.27 -116 33 -195 91 35 44 -16 -36
Net Cash From Operating Activities		 -9.25 -12 -15 -28 -25 -48 -38 -55 -45 -59 -66
Net Cash From Continuing Operating Activities		 -9.25 -12 -15 -28 -25 -48 -38 -55 -45 -59 -66
Net Income / (Loss) Continuing Operations		 -12 -7.89 -14 -25 -36 -46 -41 -56 -71 -63 -70
Consolidated Net Income / (Loss)		 -12 -7.89 -14 -25 -36 -46 -41 -56 -71 -63 -70
Depreciation Expense		 0.00 0.36 0.33 0.03 0.03 1.30 0.38 0.74 0.75 0.75 0.85
Non-Cash Adjustments To Reconcile Net Income		 1.47 1.54 1.54 2.16 2.52 -0.91 2.16 1.53 4.42 2.25 13
Changes in Operating Assets and Liabilities, net		 0.89 -6.35 -2.85 -5.32 8.28 -2.47 -0.11 -0.75 21 1.23 -11
Net Cash From Investing Activities		 -174 117 -29 -88 58 -147 56 88 88 -30 0.10
Net Cash From Continuing Investing Activities		 -174 117 -29 -88 58 -147 56 88 88 -30 0.10
Purchase of Property, Plant & Equipment		 - -0.28 -0.21 - -0.13 -0.18 -0.04 - - - 0.00
Purchase of Investments		 -176 - -88 -86 -29 -147 -89 -118 - -59 -59
Sale and/or Maturity of Investments		 1.36 117 59 -1.30 88 -0.21 145 206 88 29 59
Net Cash From Financing Activities		 - 28 51 - 0.18 0.15 73 - 0.48 72 31
Net Cash From Continuing Financing Activities		 - 28 51 - 0.18 0.15 73 - -0.10 73 31
Issuance of Debt		 - - 0.00 - - - 73 - - - 24
Issuance of Common Equity		 - 31 53 - - - 0.00 - - 72 6.01
Other Financing Activities, net		 - -2.75 -1.56 - 0.18 0.15 0.10 - -0.10 0.58 0.17
Other Net Changes in Cash		 0.01 - 0.05 - -0.33 0.42 -0.09 - -0.29 0.09 -0.48
Cash Interest Paid		 - - - - - - 0.00 - 1.72 2.19 1.82

Annual Balance Sheets for MoonLake Immunotherapeutics

This table presents MoonLake Immunotherapeutics' 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		 117 9.68 77 527 478 424
Total Current Assets		 1.62 9.64 77 514 474 422
Cash & Equivalents		 1.34 8.04 40 451 180 335
Short-Term Investments		 - 0.00 33 60 268 59
Accounts Receivable		 - 0.15 0.22 1.06 2.84 4.87
Prepaid Expenses		 0.28 1.45 4.18 2.10 23 23
Plant, Property, & Equipment, net		 0.00 0.05 0.05 0.32 0.72 0.58
Total Noncurrent Assets		 115 0.00 0.28 12 2.92 2.16
Other Noncurrent Operating Assets		 115 0.00 0.28 12 2.92 2.16
Total Liabilities & Shareholders' Equity		 117 9.68 77 527 478 424
Total Liabilities		 4.15 21 8.08 13 25 120
Total Current Liabilities		 0.13 21 7.67 9.97 22 45
Accounts Payable		 - 1.57 0.25 1.84 8.99 30
Accrued Expenses		 0.07 4.52 7.26 6.93 12 15
Other Current Liabilities		 - 0.00 0.15 1.20 1.37 1.23
Total Noncurrent Liabilities		 4.03 0.24 0.41 3.08 2.08 74
Long-Term Debt		 - - - - 0.00 74
Noncurrent Employee Benefit Liabilities		 4.03 0.24 0.28 0.58 0.62 0.00
Other Noncurrent Operating Liabilities		 - 0.00 0.13 2.50 1.46 0.37
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -2.52 -12 69 513 453 304
Total Preferred & Common Equity		 -2.52 -12 49 496 447 304
Total Common Equity		 -2.52 -12 49 496 447 304
Common Stock		 0.00 42 129 610 677 767
Retained Earnings		 -2.52 -54 -81 -117 -236 -463
Accumulated Other Comprehensive Income / (Loss)		 - -0.17 0.35 2.36 5.00 0.60

Quarterly Balance Sheets for MoonLake Immunotherapeutics

This table presents MoonLake Immunotherapeutics' 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 Q1 2026
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 3/31/2026
Total Assets		 89 67 507 500 564 545 518 511 460 414 400
Total Current Assets		 89 67 506 500 554 537 512 506 455 411 397
Cash & Equivalents		 41 50 502 318 458 343 376 272 307 351 298
Short-Term Investments		 42 13 0.00 178 89 177 118 209 118 30 59
Accounts Receivable		 0.60 0.38 0.62 0.72 1.50 1.68 2.41 2.99 3.41 4.02 5.76
Prepaid Expenses		 4.48 3.08 3.96 3.31 5.04 15 16 23 27 27 33
Plant, Property, & Equipment, net		 0.05 0.05 0.04 0.04 0.51 0.48 0.58 0.71 0.67 0.62 0.53
Total Noncurrent Assets		 0.00 0.25 0.21 0.17 10 7.51 5.32 4.29 3.95 2.50 3.20
Other Noncurrent Operating Assets		 - 0.25 0.21 0.17 10 7.51 5.32 4.29 3.95 2.50 3.20
Total Liabilities & Shareholders' Equity		 89 67 507 500 564 545 518 511 460 414 400
Total Liabilities		 6.02 7.68 7.51 11 12 15 23 99 102 123 146
Total Current Liabilities		 6.02 7.28 7.13 10 8.91 12 20 24 27 48 46
Accounts Payable		 1.06 3.83 4.36 3.40 3.48 5.14 11 12 17 25 23
Accrued Expenses		 4.96 3.30 2.62 6.75 4.12 5.82 7.93 11 8.73 22 22
Other Current Liabilities		 - 0.16 0.16 0.16 1.30 1.32 1.44 1.43 1.55 1.50 0.92
Total Noncurrent Liabilities		 0.00 0.41 0.38 0.27 2.82 2.56 2.63 75 75 75 100
Long-Term Debt		 - - - - - - - 73 73 74 99
Noncurrent Employee Benefit Liabilities		 0.00 0.31 0.32 0.26 0.46 0.54 0.69 0.54 0.57 0.55 0.35
Other Noncurrent Operating Liabilities		 - 0.09 0.05 0.01 2.36 2.02 1.94 1.14 0.84 0.49 0.87
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 83 59 499 490 552 530 496 413 358 291 254
Total Preferred & Common Equity		 55 42 490 425 543 521 488 408 354 289 254
Total Common Equity		 55 42 490 425 543 521 488 408 354 289 254
Common Stock		 124 131 590 531 670 672 675 681 684 689 786
Retained Earnings		 -69 -90 -100 -109 -130 -155 -190 -276 -331 -400 -533
Accumulated Other Comprehensive Income / (Loss)		 0.25 0.34 0.04 2.88 2.69 3.26 2.83 2.39 0.52 0.28 0.32

Annual Metrics And Ratios for MoonLake Immunotherapeutics

This table displays calculated financial ratios and metrics derived from MoonLake Immunotherapeutics' official financial filings.

Metric 2021 2022 2023 2024 2025
Period end date 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Growth		 0.00% -1,307.00% 32.18% -174.17% -83.85%
EBIT Growth		 0.00% -1,310.61% 31.77% -175.01% -83.91%
NOPAT Growth		 0.00% -1,323.56% 16.81% -164.38% -71.10%
Net Income Growth		 0.00% -1,320.01% 31.67% -175.06% -89.96%
EPS Growth		 0.00% -448.39% 57.06% -158.90% -86.77%
Operating Cash Flow Growth		 0.00% -9,046.87% 23.47% -172.54% -68.12%
Free Cash Flow Firm Growth		 0.00% 0.00% 6.74% -135.71% -46.18%
Invested Capital Growth		 0.00% 28.52% 174.16% 116.04% -386.86%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 0.00% -362.89% 17.06% -45.18% -6.82%
EBIT Q/Q Growth		 0.00% -364.08% 16.38% -46.71% -6.93%
NOPAT Q/Q Growth		 0.00% -368.34% 2.99% -31.83% -6.82%
Net Income Q/Q Growth		 0.00% -376.74% 16.29% -46.54% -7.78%
EPS Q/Q Growth		 0.00% -218.06% -1.39% -8.00% -6.33%
Operating Cash Flow Q/Q Growth		 0.00% -225.23% -1.78% -44.90% -5.56%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% -30.08% -22.83% -5.11%
Invested Capital Q/Q Growth		 0.00% -275.64% 139.18% 240.14% 1.03%
Profitability Metrics		 - - - - -
Gross Margin		 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Margin		 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Margin		 0.00% 0.00% 0.00% 0.00% 0.00%
EBIT Margin		 0.00% 0.00% 0.00% 0.00% 0.00%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 0.00% 0.00%
Tax Burden Percent		 100.00% 100.06% 100.21% 100.23% 100.27%
Interest Burden Percent		 99.39% 100.00% 100.00% 100.00% 103.26%
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)		 -9.01% -225.85% -15.14% -25.08% -60.78%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% -1,760.81% -2,626.49% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Common Equity (ROCE)		 1.27% -147.01% -14.16% -24.45% -60.25%
Return on Equity Simple (ROE_SIMPLE)		 39.01% -131.92% -8.89% -27.13% 0.00%
Net Operating Profit after Tax (NOPAT)		 -3.20 -46 -38 -100 -171
NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 19.30% -58.21% -2.12% -4.40% -15.35%
Return On Investment Capital (ROIC_SIMPLE)		 - -66.23% -7.38% -22.09% -45.27%
Cost of Revenue to Revenue		 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%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 -4.57 -64 -44 -121 -222
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -4.57 -64 -44 -120 -220
Valuation Ratios		 - - - - -
Price to Book Value (P/BV)		 0.00 11.32 7.61 7.74 2.78
Price to Tangible Book Value (P/TBV)		 0.00 11.32 7.61 7.74 2.78
Price to Revenue (P/Rev)		 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
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 1,320.26 562.85 0.00
Enterprise Value to Revenue (EV/Rev)		 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
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		 -1.29 0.00 0.00 0.00 0.24
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.24
Financial Leverage		 -0.60 -1.14 -1.00 -0.99 -1.01
Leverage Ratio		 1.25 1.51 1.04 1.04 1.19
Compound Leverage Factor		 1.25 1.51 1.04 1.04 1.23
Debt to Total Capital		 447.09% 0.00% 0.00% 0.00% 19.57%
Short-Term Debt to Total Capital		 447.09% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 19.57%
Preferred Equity to Total Capital		 2.16% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 28.89% 3.47% 1.45% 0.00%
Common Equity to Total Capital		 -349.25% 71.11% 96.53% 98.55% 80.43%
Debt to EBITDA		 -3.28 0.00 0.00 0.00 -0.34
Net Debt to EBITDA		 -1.52 0.00 0.00 0.00 1.46
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 -0.34
Debt to NOPAT		 -4.69 0.00 0.00 0.00 -0.43
Net Debt to NOPAT		 -2.18 0.00 0.00 0.00 1.87
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 -0.43
Altman Z-Score		 -6.61 37.95 173.96 84.21 2.04
Noncontrolling Interest Sharing Ratio		 114.12% 34.91% 6.47% 2.52% 0.87%
Liquidity Ratios		 - - - - -
Current Ratio		 0.46 9.98 51.59 21.11 9.27
Quick Ratio		 0.39 9.44 51.38 20.07 8.77
Cash Flow Metrics		 - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -47 -44 -103 -151
Operating Cash Flow to CapEx		 0.00% -349,140.48% -15,029.18% -22,441.34% -560,020.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 -20.78
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 -27.04
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 -27.05
Efficiency Ratios		 - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00
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 0.00 0.00 0.00 0.00
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		 -4.68 -3.35 2.48 5.36 -15
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 0.00 1.34 5.83 2.88 -21
Enterprise Value (EV)		 153 501 3,278 3,019 527
Market Capitalization		 146 553 3,771 3,460 847
Book Value per Share		 ($0.79) $0.93 $7.94 $6.99 $4.74
Tangible Book Value per Share		 ($0.79) $0.93 $7.94 $6.99 $4.74
Total Capital		 3.35 69 513 453 379
Total Debt		 15 0.00 0.00 0.00 74
Total Long-Term Debt		 0.00 0.00 0.00 0.00 74
Net Debt		 6.96 -72 -511 -448 -320
Capital Expenditures (CapEx)		 0.00 0.02 0.28 0.52 0.04
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -4.49 -3.27 -6.81 3.80 -18
Debt-free Net Working Capital (DFNWC)		 3.55 69 504 452 376
Net Working Capital (NWC)		 -11 69 504 452 376
Net Nonoperating Expense (NNE)		 1.34 19 6.19 21 59
Net Nonoperating Obligations (NNO)		 6.96 -72 -511 -448 -320
Total Depreciation and Amortization (D&A)		 0.00 0.16 0.37 1.38 2.62
Debt-free, Cash-free Net Working Capital to Revenue		 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%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Adjustments		 - - - - -
Adjusted Basic Earnings per Share		 ($0.31) ($1.70) ($1.46) ($1.89) ($3.53)
Adjusted Weighted Average Basic Shares Outstanding		 14.81M 29.36M 98.25M 62.87M 64.46M
Adjusted Diluted Earnings per Share		 ($0.31) ($1.70) ($1.46) ($1.89) ($3.53)
Adjusted Weighted Average Diluted Shares Outstanding		 14.81M 29.36M 98.25M 62.87M 64.46M
Adjusted Basic & Diluted Earnings per Share		 ($0.31) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 11.93M 52.70M 63.89M 64.01M 71.73M
Normalized Net Operating Profit after Tax (NOPAT)		 -3.20 -46 -38 -100 -171
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00%
Pre Tax Income Margin		 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 -30.69
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 -23.65
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 -30.70
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 -23.65
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%

Quarterly Metrics And Ratios for MoonLake Immunotherapeutics

This table displays calculated financial ratios and metrics derived from MoonLake Immunotherapeutics' 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		 - - - - - - - - - - 71,727,875.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 71,727,875.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - -0.97
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Growth		 21.33% 54.10% -13.75% -99.77% -210.60% -502.10% -194.69% -118.49% -86.81% -30.51% -64.89%
EBIT Growth		 21.33% 52.34% -13.90% -99.95% -210.79% -491.02% -190.46% -118.47% -87.06% -31.11% -65.44%
NOPAT Growth		 12.14% 9.99% -53.27% -131.90% -232.23% -229.90% -139.58% -98.50% -65.69% -31.54% -47.47%
Net Income Growth		 21.18% 52.10% -14.38% -100.42% -210.81% -488.23% -190.23% -126.39% -95.75% -35.82% -71.87%
EPS Growth		 33.33% -82.21% 4.35% 15.22% -211.11% -235.14% -186.36% -123.08% -96.43% -29.17% -55.56%
Operating Cash Flow Growth		 1.08% -6.45% -65.64% -129.38% -173.22% -292.68% -155.15% -95.52% -76.23% -21.29% -73.80%
Free Cash Flow Firm Growth		 -103.65% -25.55% 71.63% -626.75% -946.91% -129.88% -44.23% -12.20% 13.68% 33.75% -15.83%
Invested Capital Growth		 -610.93% 174.16% 235.39% 482.21% 124.89% 116.04% 2.65% -39.00% -1,085.89% -386.86% -189.15%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 6.10% 35.42% -77.08% -77.58% -45.99% -25.18% 11.19% -32.91% -25.31% 9.92% -9.91%
EBIT Q/Q Growth		 6.10% 32.33% -77.29% -77.49% -45.96% -28.68% 12.87% -33.50% -24.97% 9.81% -9.94%
NOPAT Q/Q Growth		 1.59% -15.81% -31.88% -54.28% -40.99% -15.00% 4.23% -27.83% -17.69% 8.70% -7.37%
Net Income Q/Q Growth		 5.94% 32.12% -77.19% -77.16% -45.87% -28.47% 12.58% -38.20% -26.12% 10.86% -10.62%
EPS Q/Q Growth		 60.87% 305.56% -22.22% 11.36% -43.59% 10.71% -26.00% -38.10% -26.44% 15.45% -5.38%
Operating Cash Flow Q/Q Growth		 23.92% -33.44% -21.10% -86.58% 9.38% -91.79% 21.32% -42.97% 18.31% -31.99% -12.74%
Free Cash Flow Firm Q/Q Growth		 22.94% -349.39% -41.54% -48.26% -11.01% 1.32% 11.19% -15.33% 14.59% 24.27% -55.27%
Invested Capital Q/Q Growth		 -136.70% 139.18% 114.74% 91.91% -84.59% 240.14% 2.04% 14.05% -349.07% 1.03% 68.29%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 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% 0.00%
Operating Margin		 0.00% 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% 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% 0.00%
Tax Burden Percent		 100.25% 100.56% 100.51% 100.32% 100.26% 100.09% 100.38% 100.17% 100.16% 100.40% 100.90%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.04% 103.78% 104.75% 103.28% 103.40%
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% 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% 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% 0.00%
Return on Equity (ROE)		 -18.41% -15.14% -14.99% -11.32% -16.80% -25.08% -30.64% -40.34% -54.33% -60.78% -77.85%
Cash Return on Invested Capital (CROIC)		 0.00% -1,760.81% -974.90% -662.55% -5,319.84% -2,626.49% -2,215.17% -1,658.66% 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% 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% 0.00%
Return on Common Equity (ROCE)		 -15.45% -14.16% -14.33% -11.11% -15.57% -24.45% -30.17% -39.73% -53.67% -60.25% -77.26%
Return on Equity Simple (ROE_SIMPLE)		 -12.39% 0.00% -8.45% -11.19% -16.95% 0.00% -36.28% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -9.08 -11 -14 -21 -30 -35 -33 -42 -50 -46 -49
NOPAT Margin		 0.00% 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)		 -0.88% 0.90% -0.03% -0.66% -1.20% -2.44% -1.53% -3.11% -5.17% -4.52% -6.21%
Return On Investment Capital (ROIC_SIMPLE)		 - -2.05% - - - -7.65% -6.85% -9.85% -13.70% -12.06% -13.88%
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		 0.00% 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% 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% 0.00%
Earnings before Interest and Taxes (EBIT)		 -12 -7.84 -14 -25 -36 -46 -40 -54 -67 -61 -67
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -12 -7.48 -14 -25 -36 -45 -40 -53 -67 -60 -66
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 8.38 7.61 5.91 5.39 6.60 7.74 6.14 8.57 1.59 2.78 5.26
Price to Tangible Book Value (P/TBV)		 8.38 7.61 5.91 5.39 6.60 7.74 6.14 8.57 1.59 2.78 5.26
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 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 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 1,320.26 501.12 224.58 1,733.99 562.85 383.50 429.82 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 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 0.18 0.21 0.25 0.24 0.39
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.18 0.21 0.25 0.24 0.39
Financial Leverage		 -1.01 -1.00 -1.00 -0.99 -1.00 -0.99 -0.99 -0.98 -1.02 -1.01 -1.00
Leverage Ratio		 1.03 1.04 1.03 1.02 1.03 1.04 1.11 1.13 1.19 1.19 1.37
Compound Leverage Factor		 1.03 1.04 1.03 1.02 1.03 1.04 1.11 1.17 1.24 1.23 1.41
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 15.04% 17.01% 20.21% 19.57% 28.05%
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% 15.04% 17.01% 20.21% 19.57% 28.05%
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		 13.22% 3.47% 1.78% 1.77% 1.47% 1.45% 1.04% 0.98% 0.63% 0.00% 0.00%
Common Equity to Total Capital		 86.78% 96.53% 98.22% 98.23% 98.53% 98.55% 83.92% 82.01% 79.17% 80.43% 71.95%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 -0.50 -0.42 -0.36 -0.34 -0.40
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 2.79 2.01 1.49 1.46 1.05
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 -0.50 -0.42 -0.36 -0.34 -0.40
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 -0.61 -0.52 -0.46 -0.43 -0.53
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 3.41 2.50 1.91 1.87 1.38
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 -0.61 -0.52 -0.46 -0.43 -0.53
Altman Z-Score		 202.72 174.19 164.89 114.11 85.49 84.72 15.32 17.52 1.40 3.30 4.12
Noncontrolling Interest Sharing Ratio		 16.08% 6.47% 4.41% 1.82% 7.31% 2.52% 1.54% 1.53% 1.22% 0.87% 0.76%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 48.51 51.59 62.13 43.71 25.51 21.11 21.11 16.65 8.50 9.27 8.60
Quick Ratio		 48.19 51.38 61.56 42.46 24.72 20.07 20.15 15.66 7.95 8.77 7.89
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -3.64 -16 -23 -34 -38 -38 -33 -38 -33 -25 -39
Operating Cash Flow to CapEx		 0.00% -4,336.91% -7,058.95% 0.00% -19,120.35% -27,609.79% -108,971.43% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -1,854.49 -18.90 -10.28 -12.48 -17.04
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -2,118.89 -26.77 -13.93 -29.47 -29.21
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -2,120.83 -26.77 -13.93 -29.47 -29.21
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 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 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		 0.00 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 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 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 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -6.34 2.48 5.33 10 1.58 5.36 5.47 6.24 -16 -15 -4.88
Invested Capital Turnover		 0.00 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		 -5.45 5.83 9.27 13 7.91 2.88 0.14 -3.99 -17 -21 -10
Enterprise Value (EV)		 3,128 3,278 2,672 2,298 2,734 3,019 2,099 2,683 156 527 1,078
Market Capitalization		 3,559 3,771 3,209 2,808 3,221 3,460 2,501 3,030 461 847 1,337
Book Value per Share		 $6.80 $7.94 $8.49 $8.15 $7.64 $6.99 $6.37 $5.51 $4.50 $4.74 $3.54
Tangible Book Value per Share		 $6.80 $7.94 $8.49 $8.15 $7.64 $6.99 $6.37 $5.51 $4.50 $4.74 $3.54
Total Capital		 490 513 552 530 496 453 486 431 365 379 353
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 73 73 74 74 99
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 73 73 74 74 99
Net Debt		 -496 -511 -547 -520 -494 -448 -407 -352 -307 -320 -259
Capital Expenditures (CapEx)		 0.00 0.28 0.21 0.00 0.13 0.18 0.04 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -6.28 -6.81 -2.38 4.80 -1.69 3.80 2.15 3.04 -18 -18 -7.39
Debt-free Net Working Capital (DFNWC)		 490 504 545 525 492 452 482 428 363 376 351
Net Working Capital (NWC)		 490 504 545 525 492 452 482 428 363 376 351
Net Nonoperating Expense (NNE)		 2.54 -2.63 0.10 3.35 5.94 12 7.32 14 21 17 21
Net Nonoperating Obligations (NNO)		 -496 -511 -547 -520 -494 -448 -407 -352 -307 -320 -259
Total Depreciation and Amortization (D&A)		 0.00 0.36 0.02 0.03 0.03 1.30 0.38 0.74 0.75 0.75 0.85
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% 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% 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% 0.00%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.18) $0.37 ($0.44) ($0.39) ($0.56) ($0.50) ($0.63) ($0.87) ($1.10) ($0.93) ($0.98)
Adjusted Weighted Average Basic Shares Outstanding		 53.52M 49.12M 125.27M 62.87M 62.90M 62.87M 63.23M 63.28M 63.37M 64.46M 71.27M
Adjusted Diluted Earnings per Share		 ($0.18) $0.37 ($0.44) ($0.39) ($0.56) ($0.50) ($0.63) ($0.87) ($1.10) ($0.93) ($0.98)
Adjusted Weighted Average Diluted Shares Outstanding		 53.52M 49.12M 125.27M 62.87M 62.90M 62.87M 63.23M 63.28M 63.37M 64.46M 71.27M
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		 62.45M 63.89M 63.87M 63.88M 63.91M 64.01M 64.20M 64.23M 64.23M 71.73M 73.62M
Normalized Net Operating Profit after Tax (NOPAT)		 -9.08 -11 -14 -21 -30 -35 -33 -42 -50 -46 -49
Normalized NOPAT Margin		 0.00% 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% 0.00%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -2,243.78 -26.47 -21.07 -30.46 -29.45
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -1,846.64 -20.86 -15.64 -22.88 -21.60
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -2,245.72 -26.47 -21.07 -30.46 -29.45
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -1,848.58 -20.86 -15.64 -22.88 -21.60
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

Key takeaways from MoonLake Immunotherapeutics (MLTX) across the last four years, focused on the most impactful trends for retail investors:

  • In Q4 2025, the company completed a substantial equity issuance of about $72.4 million, boosting cash from financing activities and supporting liquidity.
  • Liquidity remained strong in 2025: Cash & equivalents were about $350.7 million in Q3 2025, with roughly $29.7 million in short‑term investments, for total liquidity near $380 million.
  • The balance sheet still shows a positive equity base, with total equity and noncontrolling interests around $291.2 million in Q3 2025, providing a cushion against losses.
  • In 2025 Q3, the company generated a notable cash inflow from investing activities via sale/maturity of investments (~$88.4 million), contributing to liquidity swings.
  • Total revenue has been reported as zero across the four-year window shown, indicating MoonLake has not yet converted its pipeline into product revenue.
  • Shares outstanding have remained in the mid‑60 million range, reflecting ongoing dilution but not an extreme spike in share count.
  • Net income attributable to common shareholders was highly negative in 2025: Q4 -$62.4 million and Q3 -$69.7 million, illustrating persistent earnings losses.
  • Operating cash flow was negative in all 2025 quarters (example: Q4 -$58.8 million; Q3 -$44.5 million; Q2 -$54.5 million; Q1 -$38.1 million), signaling continued cash burn from operations.
  • Research and Development expense remained the primary driver of losses in 2025, with RD running around $56–60 million per quarter (Q3 2025 RD $60.6M; Q4 2025 RD $56.0M).
  • Equity erosion is evident in 2025, as reported total equity declined from about $412.6 million in Q1 2025 to around $291.2 million by Q3 2025, indicating ongoing shareholder dilution to fund losses.
05/15/26 06:36 AM ETAI Generated. May Contain Errors.

MoonLake Immunotherapeutics Financials - Frequently Asked Questions

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

MoonLake Immunotherapeutics' net income appears to be on an upward trend, with a most recent value of -$230.32 million in 2025, rising from -$4.54 million in 2021. The previous period was -$121.24 million in 2024. Find out what analysts predict for MoonLake Immunotherapeutics in the coming months.

MoonLake Immunotherapeutics' total operating income in 2025 was -$244.83 million, based on the following breakdown:
  • Total Gross Profit: $0.00
  • Total Operating Expenses: $244.83 million

Over the last 4 years, MoonLake Immunotherapeutics' total revenue changed from $0.00 in 2021 to $0.00 in 2025, a change of 0.0%.

MoonLake Immunotherapeutics' total liabilities were at $119.95 million at the end of 2025, a 388.8% increase from 2024, and a 2,790.3% increase since 2020.

In the past 5 years, MoonLake Immunotherapeutics' cash and equivalents has ranged from $1.34 million in 2020 to $451.17 million in 2023, and is currently $334.52 million as of their latest financial filing in 2025.

Over the last 4 years, MoonLake Immunotherapeutics' book value per share changed from -0.79 in 2021 to 4.74 in 2025, a change of -698.9%.


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Financial statements for NASDAQ:MLTX last updated on 5/13/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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