What is Orchestra BioMed's operating income?

Orchestra BioMed's total operating income in 2025 was -$51.81 million, based on the following breakdown: Total Gross Profit: $33.29 million Total Operating Expenses: $85.10 million

Orchestra BioMed (OBIO) Financials

$4.19 0.00 (0.00%)

Closing price 07/2/2026 04:00 PM Eastern

Extended Trading

$4.40 +0.21 (+5.01%)

As of 07/2/2026 05:53 PM Eastern

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Annual Income Statements for Orchestra BioMed

This table shows Orchestra BioMed's 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	-0.38	-34	-49	-61	-53
Consolidated Net Income / (Loss)	-0.38	-34	-49	-61	-53
Net Income / (Loss) Continuing Operations	-0.38	-34	-49	-61	-53
Total Pre-Tax Income	-0.38	-34	-49	-61	-53
Total Operating Income	-0.39	-33	-52	-64	-52
Total Gross Profit	0.00	3.32	2.57	2.43	33
Total Revenue	0.00	3.53	2.76	2.64	33
Operating Revenue	-	3.53	2.76	2.64	33
Total Cost of Revenue	0.00	0.21	0.19	0.20	0.19
Operating Cost of Revenue	-	0.21	0.19	0.20	0.19
Total Operating Expenses	0.39	36	54	67	85
Selling, General & Admin Expense	0.27	14	20	24	27
Research & Development Expense	-	22	34	43	58
Total Other Income / (Expense), net	0.02	-0.95	2.39	3.28	-1.15
Interest & Investment Income	0.02	1.03	3.83	3.29	-1.15
Other Income / (Expense), net	-	-1.35	-0.29	-0.01	0.00
Basic Earnings per Share	($0.02)	($2.24)	($1.48)	($1.66)	($1.11)
Weighted Average Basic Shares Outstanding	20.45M	14.99M	33.23M	36.82M	47.75M
Diluted Earnings per Share	-	($2.24)	($1.48)	($1.66)	($1.11)
Weighted Average Diluted Shares Outstanding	20.45M	14.99M	33.23M	36.82M	47.75M
Weighted Average Basic & Diluted Shares Outstanding	20.45M	11.21M	35.78M	38.31M	58.52M

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-13	-13	-13	-16	-15	-16	-19	-19	-21	5.99	-21
Consolidated Net Income / (Loss)	-13	-13	-13	-16	-15	-16	-19	-19	-21	6.25	-21
Net Income / (Loss) Continuing Operations	-13	-13	-13	-16	-15	-16	-19	-19	-21	5.99	-21
Total Pre-Tax Income	-13	-13	-13	-16	-15	-16	-19	-19	-21	5.99	-21
Total Operating Income	-15	-12	-14	-17	-16	-17	-19	-19	-20	6.75	-22
Total Gross Profit	0.38	0.22	0.59	0.73	0.92	0.20	0.82	0.79	0.81	31	0.08
Total Revenue	0.42	0.26	0.62	0.78	0.99	0.25	0.87	0.84	0.86	31	0.11
Operating Revenue	0.42	0.26	0.62	0.78	0.99	0.25	0.87	0.84	0.86	31	0.11
Total Cost of Revenue	0.04	0.05	0.03	0.04	0.07	0.06	0.04	0.05	0.05	0.05	0.03
Operating Cost of Revenue	0.04	0.05	0.03	0.04	0.07	0.06	0.04	0.05	0.05	0.05	0.03
Total Operating Expenses	15	13	15	18	17	17	20	20	21	24	22
Selling, General & Admin Expense	6.34	4.19	5.90	6.47	5.67	5.90	6.26	6.26	7.10	7.29	6.37
Research & Development Expense	8.56	8.51	9.11	11	12	11	13	14	14	17	16
Total Other Income / (Expense), net	1.21	-0.34	0.96	0.88	0.92	0.51	0.17	-0.04	-0.52	-0.76	1.39
Interest & Investment Income	1.21	2.64	0.97	0.88	0.92	2.44	0.17	-0.04	-0.52	-0.76	1.42
Other Income / (Expense), net	0.00	-	-0.01	0.00	0.00	-0.01	0.00	0.00	0.00	-	-0.04
Preferred Stock Dividends Declared	-	-	-	-	-	-	0.00	-	-	-	-0.04
Basic Earnings per Share	($0.38)	($0.35)	($0.38)	($0.45)	($0.41)	($0.42)	($0.49)	($0.50)	($0.40)	$0.28	($0.33)
Weighted Average Basic Shares Outstanding	35.24M	33.23M	35.78M	35.80M	37.62M	36.82M	38.24M	38.39M	52.19M	47.75M	62.72M
Diluted Earnings per Share	($0.38)	($0.35)	($0.38)	($0.45)	($0.41)	($0.42)	($0.49)	($0.50)	($0.40)	$0.28	($0.33)
Weighted Average Diluted Shares Outstanding	35.24M	33.23M	35.78M	35.80M	37.62M	36.82M	38.24M	38.39M	52.19M	47.75M	62.72M
Weighted Average Basic & Diluted Shares Outstanding	35.74M	35.78M	35.79M	37.82M	38.01M	38.31M	38.31M	53.96M	56.46M	58.52M	59.88M

This table details how cash moves in and out of Orchestra BioMed's 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	-0.27	9.85	11	-8.30	12
Net Cash From Operating Activities	-0.27	-29	-46	-51	-49
Net Cash From Continuing Operating Activities	-0.27	-29	-46	-51	-49
Net Income / (Loss) Continuing Operations	-0.38	-34	-49	-61	-53
Consolidated Net Income / (Loss)	-0.38	-34	-49	-61	-53
Depreciation Expense	-	0.22	0.29	0.31	0.33
Amortization Expense	-	-0.44	-3.71	-1.47	-0.60
Non-Cash Adjustments To Reconcile Net Income	-0.02	4.99	9.72	12	14
Changes in Operating Assets and Liabilities, net	0.12	-0.45	-3.31	-0.77	-10
Net Cash From Investing Activities	0.00	-64	11	13	-27
Net Cash From Continuing Investing Activities	0.00	-64	11	13	-27
Purchase of Property, Plant & Equipment	-	-0.59	-0.08	-0.29	-0.49
Acquisitions	-	-	0.00	-0.60	0.00
Purchase of Investments	-	-64	-142	-73	-76
Sale and/or Maturity of Investments	-	0.00	153	87	50
Net Cash From Financing Activities	0.00	103	46	29	88
Net Cash From Continuing Financing Activities	0.00	103	46	29	88
Issuance of Debt	-	10	0.00	15	0.00
Issuance of Preferred Equity	-	110	-	0.00	13
Issuance of Common Equity	-	-	-	0.00	58
Other Financing Activities, net	0.00	-10	57	14	18
Cash Interest Paid	-	1.37	1.12	0.10	1.45

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	2.67	11	-7.24	0.39	1.89	-3.34	-3.91	0.40	23	-7.32	-6.32
Net Cash From Operating Activities	-10	-11	-13	-10	-14	-14	-17	-16	-15	-2.27	-22
Net Cash From Continuing Operating Activities	-10	-11	-13	-10	-13	-14	-17	-16	-15	-2.27	-22
Net Income / (Loss) Continuing Operations	-13	-13	-13	-16	-15	-16	-19	-19	-21	6.25	-21
Consolidated Net Income / (Loss)	-13	-13	-13	-16	-15	-16	-19	-19	-21	6.25	-21
Depreciation Expense	0.07	0.07	0.07	0.07	0.08	0.08	0.08	0.08	0.08	0.08	0.09
Amortization Expense	-1.03	-0.64	-0.59	-0.33	-0.36	-0.20	-0.07	-0.00	-0.27	-0.26	-0.01
Non-Cash Adjustments To Reconcile Net Income	3.38	2.52	2.70	2.50	3.10	4.10	3.11	3.40	3.93	3.94	2.11
Changes in Operating Assets and Liabilities, net	0.61	-0.12	-1.83	3.31	-0.87	-1.36	-0.99	0.36	2.54	-12	-3.66
Net Cash From Investing Activities	13	33	5.86	10	0.56	-3.75	13	16	-39	-18	10
Net Cash From Continuing Investing Activities	13	33	5.86	10	0.56	-3.75	13	16	-39	-18	10
Purchase of Property, Plant & Equipment	-0.02	0.00	-0.01	-0.11	-0.07	-0.11	-0.11	-0.03	-0.31	-0.03	-0.18
Purchase of Investments	-39	-3.96	-24	-19	-9.99	-20	-2.90	-	-48	-26	-13
Sale and/or Maturity of Investments	51	37	30	29	11	17	16	16	9.51	7.95	24
Net Cash From Financing Activities	0.00	-11	0.02	0.17	15	14	-0.30	-0.43	76	13	5.53
Net Cash From Continuing Financing Activities	0.00	-11	0.02	0.17	15	14	-0.30	-0.43	76	13	5.53
Other Financing Activities, net	0.00	0.15	0.02	0.17	15	-1.05	-0.30	-0.43	19	0.10	5.53
Cash Interest Paid	0.38	0.02	0.00	-	-	0.10	0.36	0.36	0.36	0.36	0.36

This table presents Orchestra BioMed's 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	162	162	96	95	76	115
Total Current Assets	2.15	1.80	85	89	69	108
Cash & Equivalents	2.03	1.75	20	31	22	35
Short-Term Investments	-	-	64	57	45	72
Accounts Receivable	-	-	0.10	0.10	0.09	0.10
Inventories, net	-	-	0.28	0.15	0.17	0.31
Prepaid Expenses	0.12	0.05	0.53	1.27	2.09	0.99
Plant, Property, & Equipment, net	0.00	0.00	1.49	1.28	1.38	1.72
Total Noncurrent Assets	160	160	9.39	4.82	5.62	5.23
Long-Term Investments	-	-	2.50	2.50	2.50	2.50
Other Noncurrent Operating Assets	160	160	6.90	2.32	3.12	2.74
Total Liabilities & Shareholders' Equity	162	162	96	95	76	115
Total Liabilities	5.72	5.77	43	27	43	51
Total Current Liabilities	0.12	0.17	19	11	16	17
Accounts Payable	0.01	0.15	3.97	2.90	5.13	6.10
Accrued Expenses	0.08	0.01	5.38	5.15	6.08	9.89
Other Current Liabilities	0.03	-	2.79	0.65	0.55	0.75
Total Noncurrent Liabilities	5.60	5.60	24	16	27	35
Long-Term Debt	-	-	9.49	0.00	14	14
Capital Lease Obligations	-	-	1.68	1.04	-	0.94
Other Noncurrent Operating Liabilities	5.60	5.60	0.20	0.00	1.73	20
Redeemable Noncontrolling Interest	160	160	-	-	0.00	9.81
Total Equity & Noncontrolling Interests	-3.56	-3.94	53	68	33	54
Total Preferred & Common Equity	-3.56	-3.94	53	68	33	54
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-3.56	-3.94	53	68	33	54
Common Stock	0.00	0.00	252	317	343	416
Retained Earnings	-3.56	-3.94	-200	-249	-310	-363
Accumulated Other Comprehensive Income / (Loss)	-	-	-0.01	-0.01	0.05	0.06

This table presents Orchestra BioMed's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	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	116	83	72	75	59	43	105	101
Total Current Assets	110	76	66	69	52	36	98	96
Cash & Equivalents	19	23	24	26	18	19	42	28
Short-Term Investments	90	52	41	41	32	15	54	66
Accounts Receivable	0.09	0.07	0.08	0.12	0.09	0.08	0.05	0.08
Inventories, net	0.14	0.12	0.07	0.23	0.14	0.19	0.37	0.28
Prepaid Expenses	1.12	1.21	1.15	1.28	1.80	1.69	1.53	1.45
Plant, Property, & Equipment, net	1.36	1.31	1.24	1.25	1.41	1.37	1.60	1.85
Total Noncurrent Assets	4.81	4.89	4.67	5.51	5.74	5.58	5.44	2.60
Long-Term Investments	2.50	2.50	2.50	2.50	2.50	2.50	2.50	0.00
Other Noncurrent Operating Assets	2.32	2.40	2.17	3.02	3.24	3.08	2.95	2.60
Total Liabilities & Shareholders' Equity	116	83	72	75	59	43	105	101
Total Liabilities	37	25	28	29	42	43	61	50
Total Current Liabilities	21	10	15	16	15	17	21	14
Accounts Payable	3.15	3.35	6.27	4.72	5.56	5.31	8.47	6.31
Accrued Expenses	4.30	3.53	4.23	7.03	5.39	6.65	6.84	6.59
Other Current Liabilities	0.75	0.47	0.35	0.40	0.59	0.64	0.70	0.79
Total Noncurrent Liabilities	15	15	14	13	27	25	40	36
Long-Term Debt	0.00	-	-	-	14	14	14	14
Capital Lease Obligations	1.12	-	1.10	-	1.52	-	-	0.73
Other Noncurrent Operating Liabilities	0.27	1.16	-	1.44	0.10	1.52	18	21
Redeemable Noncontrolling Interest	-	-	-	-	-	-	-	9.77
Total Equity & Noncontrolling Interests	80	57	44	46	17	0.30	44	41
Total Preferred & Common Equity	80	57	44	46	17	0.30	44	41
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	80	57	44	46	17	0.30	44	41
Common Stock	316	320	322	340	345	348	413	425
Retained Earnings	-236	-262	-278	-294	-329	-348	-369	-383
Accumulated Other Comprehensive Income / (Loss)	-0.08	-0.01	-0.02	0.10	0.04	0.02	0.05	-0.04

This table displays calculated financial ratios and metrics derived from Orchestra BioMed's 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
DEI Shares Outstanding	40,900,000.00	11,212,117.00	35,743,972.00	-	56,464,731.00
DEI Adjusted Shares Outstanding	40,900,000.00	11,212,117.00	35,743,972.00	-	56,464,731.00
DEI Earnings Per Adjusted Shares Outstanding	-0.01	-3.00	-1.37	-	-0.94
Growth Metrics	-	-	-	-	-
Revenue Growth	0.00%	0.00%	-21.88%	-4.42%	1,169.22%
EBITDA Growth	0.00%	-8,569.15%	-61.36%	-18.57%	20.46%
EBIT Growth	0.00%	-8,514.69%	-52.32%	-24.15%	19.44%
NOPAT Growth	0.00%	-8,172.71%	-57.72%	-24.84%	19.43%
Net Income Growth	0.00%	-8,773.33%	-46.16%	-24.23%	13.64%
EPS Growth	0.00%	0.00%	33.93%	-12.16%	33.13%
Operating Cash Flow Growth	0.00%	-10,653.70%	-57.49%	-9.61%	3.15%
Free Cash Flow Firm Growth	0.00%	0.00%	-124.42%	-21.35%	36.54%
Invested Capital Growth	0.00%	-114.63%	6.93%	3.04%	-37.94%
Revenue Q/Q Growth	0.00%	45.39%	-23.35%	-0.34%	1,088.15%
EBITDA Q/Q Growth	0.00%	-49.30%	-4.73%	-6.09%	30.98%
EBIT Q/Q Growth	0.00%	-48.37%	-4.92%	-7.00%	31.14%
NOPAT Q/Q Growth	0.00%	-42.48%	-5.43%	-6.98%	31.14%
Net Income Q/Q Growth	0.00%	-40.35%	-6.66%	-5.78%	29.83%
EPS Q/Q Growth	0.00%	0.00%	0.00%	-4.40%	38.67%
Operating Cash Flow Q/Q Growth	0.00%	-42.36%	-5.08%	-5.34%	18.71%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	-184.47%	-14.57%	21.41%
Invested Capital Q/Q Growth	0.00%	0.00%	-0.17%	12.21%	24.64%
Profitability Metrics	-	-	-	-	-
Gross Margin	0.00%	94.03%	93.26%	92.27%	99.43%
EBITDA Margin	0.00%	-968.64%	-2,000.72%	-2,481.96%	-155.53%
Operating Margin	0.00%	-924.34%	-1,866.16%	-2,437.49%	-154.73%
EBIT Margin	0.00%	-962.55%	-1,876.81%	-2,437.91%	-154.73%
Profit (Net Income) Margin	0.00%	-951.26%	-1,779.71%	-2,313.27%	-157.40%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	99.52%
Interest Burden Percent	95.95%	98.83%	94.83%	94.89%	102.22%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-34.71%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-6.74%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	2.48%	0.00%	0.00%	0.00%
Return on Equity (ROE)	-0.24%	-32.22%	-81.47%	-120.84%	-109.41%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	0.00%	-26.42%	-54.30%	-75.05%	-54.24%
Return on Assets (ROA)	0.00%	-26.11%	-51.49%	-71.21%	-55.18%
Return on Common Equity (ROCE)	0.01%	-7.51%	-81.47%	-120.84%	-98.27%
Return on Equity Simple (ROE_SIMPLE)	9.61%	-63.97%	-72.19%	-185.16%	0.00%
Net Operating Profit after Tax (NOPAT)	-0.28	-23	-36	-45	-36
NOPAT Margin	0.00%	-647.04%	-1,306.31%	-1,706.24%	-108.31%
Net Nonoperating Expense Percent (NNEP)	-5.84%	-27.97%	-15.92%	-22.49%	-22.09%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-52.19%	-91.98%	-52.73%
Cost of Revenue to Revenue	0.00%	5.97%	6.74%	7.73%	0.57%
SG&A Expenses to Revenue	0.00%	397.23%	733.99%	907.16%	80.38%
R&D to Revenue	0.00%	621.14%	1,225.43%	1,622.59%	173.78%
Operating Expenses to Revenue	0.00%	1,018.37%	1,959.42%	2,529.76%	254.16%
Earnings before Interest and Taxes (EBIT)	-0.39	-34	-52	-64	-52
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-0.39	-34	-55	-65	-52
Valuation Ratios	-	-	-	-	-
Price to Book Value (P/BV)	0.00	2.13	4.80	4.61	4.37
Price to Tangible Book Value (P/TBV)	0.00	2.13	4.80	4.61	4.37
Price to Revenue (P/Rev)	0.00	31.67	118.24	57.64	7.00
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)	2.36	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	10.41	85.97	37.42	4.49
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	0.24	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-
Debt to Equity	0.00	0.21	0.02	0.48	0.24
Long-Term Debt to Equity	0.00	0.21	0.02	0.48	0.24
Financial Leverage	-0.01	-0.37	-1.36	-1.41	-1.54
Leverage Ratio	1.04	1.23	1.58	1.70	1.98
Compound Leverage Factor	0.99	1.22	1.50	1.61	2.03
Debt to Total Capital	0.00%	17.54%	1.50%	32.65%	19.35%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	17.54%	1.50%	32.65%	19.35%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	102.53%	0.00%	0.00%	0.00%	12.48%
Common Equity to Total Capital	-2.53%	82.46%	98.50%	67.35%	68.17%
Debt to EBITDA	0.00	-0.33	-0.02	-0.24	-0.29
Net Debt to EBITDA	0.00	2.19	1.61	0.81	1.80
Long-Term Debt to EBITDA	0.00	-0.33	-0.02	-0.24	-0.29
Debt to NOPAT	0.00	-0.49	-0.03	-0.36	-0.42
Net Debt to NOPAT	0.00	3.29	2.47	1.18	2.59
Long-Term Debt to NOPAT	0.00	-0.49	-0.03	-0.36	-0.42
Altman Z-Score	21.42	-1.67	2.76	-5.50	-1.93
Noncontrolling Interest Sharing Ratio	102.40%	76.70%	0.00%	0.00%	10.18%
Liquidity Ratios	-	-	-	-	-
Current Ratio	10.88	4.56	7.95	4.27	6.45
Quick Ratio	10.60	4.52	7.82	4.13	6.37
Cash Flow Metrics	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	154	-38	-46	-28
Operating Cash Flow to CapEx	0.00%	-4,955.84%	-59,137.18%	-17,494.12%	-10,012.88%
Free Cash Flow to Firm to Interest Expense	0.00	243.70	-32.68	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	-46.34	-40.08	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	-47.28	-40.14	0.00	0.00
Efficiency Ratios	-	-	-	-	-
Asset Turnover	0.00	0.03	0.03	0.03	0.35
Accounts Receivable Turnover	0.00	0.00	28.31	27.62	358.10
Inventory Turnover	0.00	0.00	0.88	1.28	0.79
Fixed Asset Turnover	0.00	0.00	1.99	1.98	21.61
Accounts Payable Turnover	0.00	0.10	0.05	0.05	0.03
Days Sales Outstanding (DSO)	0.00	0.00	12.89	13.21	1.02
Days Inventory Outstanding (DIO)	0.00	0.00	414.06	285.38	463.93
Days Payable Outstanding (DPO)	0.00	3,562.98	6,738.76	7,187.28	10,785.75
Cash Conversion Cycle (CCC)	0.00	-3,562.98	-6,311.81	-6,888.69	-10,320.80
Capital & Investment Metrics	-	-	-	-	-
Invested Capital	154	-23	-21	-20	-30
Invested Capital Turnover	0.00	0.05	-0.13	-0.13	-1.28
Increase / (Decrease) in Invested Capital	0.00	-177	1.56	0.64	-8.37
Enterprise Value (EV)	364	37	237	99	150
Market Capitalization	206	112	326	152	234
Book Value per Share	($0.19)	$4.69	$1.90	$0.87	$0.95
Tangible Book Value per Share	($0.19)	$4.69	$1.90	$0.87	$0.95
Total Capital	156	64	69	49	79
Total Debt	0.00	11	1.04	16	15
Total Long-Term Debt	0.00	11	1.04	16	15
Net Debt	-1.75	-75	-89	-53	-94
Capital Expenditures (CapEx)	0.00	0.59	0.08	0.29	0.49
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-0.12	-18	-9.69	-14	-15
Debt-free Net Working Capital (DFNWC)	1.64	66	78	53	91
Net Working Capital (NWC)	1.64	66	78	53	91
Net Nonoperating Expense (NNE)	0.10	11	13	16	16
Net Nonoperating Obligations (NNO)	-1.75	-75	-89	-53	-94
Total Depreciation and Amortization (D&A)	0.00	-0.22	-3.42	-1.16	-0.27
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-499.89%	-351.05%	-524.94%	-45.81%
Debt-free Net Working Capital to Revenue	0.00%	1,871.61%	2,822.68%	2,007.73%	272.31%
Net Working Capital to Revenue	0.00%	1,871.61%	2,822.68%	2,007.73%	272.31%
Earnings Adjustments	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.02)	($0.17)	($1.48)	($1.66)	($1.11)
Adjusted Weighted Average Basic Shares Outstanding	20.45M	16.43M	33.23M	36.82M	47.75M
Adjusted Diluted Earnings per Share	($0.02)	$0.00	($1.48)	($1.66)	($1.11)
Adjusted Weighted Average Diluted Shares Outstanding	20.45M	11.21M	33.23M	36.82M	47.75M
Adjusted Basic & Diluted Earnings per Share	($0.02)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	20.45M	11.21M	35.78M	38.31M	58.52M
Normalized Net Operating Profit after Tax (NOPAT)	-0.28	-23	-36	-45	-36
Normalized NOPAT Margin	0.00%	-647.04%	-1,306.31%	-1,706.24%	-108.31%
Pre Tax Income Margin	0.00%	-951.26%	-1,779.71%	-2,313.27%	-158.16%
Debt Service Ratios	-	-	-	-	-
EBIT to Interest Expense	0.00	-53.81	-45.00	0.00	0.00
NOPAT to Interest Expense	0.00	-36.17	-31.32	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	-54.74	-45.07	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	-37.11	-31.39	0.00	0.00
Payout Ratios	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	-0.03%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Orchestra BioMed's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	35,743,742.00	35,743,972.00	35,777,412.00	35,788,497.00	37,824,571.00	-	38,312,512.00	38,312,512.00	53,955,085.00	56,464,731.00	58,520,901.00
DEI Adjusted Shares Outstanding	35,743,742.00	35,743,972.00	35,777,412.00	35,788,497.00	37,824,571.00	-	38,312,512.00	38,312,512.00	53,955,085.00	56,464,731.00	58,520,901.00
DEI Earnings Per Adjusted Shares Outstanding	-0.37	-0.36	-0.38	-0.45	-0.41	-	-0.49	-0.51	-0.39	0.11	-0.35
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-63.97%	-76.25%	-46.74%	-14.97%	135.56%	-3.44%	40.00%	7.46%	-12.77%	12,120.16%	-87.33%
EBITDA Growth	-55.72%	-23.66%	-16.90%	-23.02%	-7.38%	-28.83%	-26.46%	-12.50%	-23.35%	139.18%	-16.56%
EBIT Growth	-44.79%	-24.14%	-21.92%	-30.13%	-12.52%	-33.71%	-31.09%	-14.64%	-24.30%	140.50%	-16.86%
NOPAT Growth	-44.27%	-26.99%	-24.93%	-30.13%	-12.52%	-33.62%	-31.19%	-14.64%	-24.30%	157.86%	-16.67%
Net Income Growth	-29.51%	-31.47%	-23.06%	-32.66%	-15.85%	-26.03%	-39.31%	-21.17%	-35.02%	138.66%	-10.32%
EPS Growth	25.49%	0.00%	5.00%	-28.57%	-7.89%	-20.00%	-28.95%	-11.11%	2.44%	166.67%	32.65%
Operating Cash Flow Growth	-41.70%	-25.50%	8.81%	2.71%	-33.24%	-23.36%	-26.70%	-52.14%	-6.20%	83.23%	-33.41%
Free Cash Flow Firm Growth	-92.66%	-106.06%	-105.27%	-105.66%	-185.23%	-19.53%	-60.04%	-52.96%	132.04%	242.31%	51.52%
Invested Capital Growth	0.00%	6.93%	-7.37%	-12.49%	-10.63%	3.04%	3.33%	3.16%	-74.00%	-37.94%	-44.25%
Revenue Q/Q Growth	-54.21%	-37.47%	136.64%	25.48%	26.86%	-74.37%	243.08%	-3.69%	2.99%	3,490.82%	-99.64%
EBITDA Q/Q Growth	-11.30%	15.74%	-14.60%	-14.46%	2.85%	-1.09%	-12.57%	-1.83%	-6.51%	132.09%	-434.86%
EBIT Q/Q Growth	-12.10%	14.07%	-15.65%	-16.80%	3.07%	-2.12%	-13.46%	-2.15%	-5.10%	133.25%	-427.38%
NOPAT Q/Q Growth	-12.10%	14.07%	-15.56%	-16.89%	3.07%	-2.05%	-13.46%	-2.15%	-5.10%	147.50%	-328.80%
Net Income Q/Q Growth	-10.54%	3.74%	-5.03%	-18.70%	3.47%	-4.73%	-16.09%	-3.24%	-7.57%	129.98%	-431.32%
EPS Q/Q Growth	-8.57%	7.89%	-8.57%	-18.42%	8.89%	-2.44%	-16.67%	-2.04%	20.00%	170.00%	-217.86%
Operating Cash Flow Q/Q Growth	1.98%	-6.73%	-19.50%	22.17%	-34.23%	1.18%	-22.74%	6.55%	6.29%	84.40%	-876.56%
Free Cash Flow Firm Q/Q Growth	-93.43%	-195.32%	15.55%	-7.00%	1.05%	-33.68%	-31.02%	-2.27%	120.73%	412.45%	-144.63%
Invested Capital Q/Q Growth	-5.10%	-0.17%	3.16%	-10.34%	-3.35%	12.21%	10.83%	-10.53%	-85.70%	24.64%	6.75%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	90.21%	82.06%	94.52%	94.34%	93.11%	77.08%	94.93%	94.50%	94.31%	99.84%	70.91%
EBITDA Margin	-3,694.51%	-4,978.63%	-2,411.13%	-2,199.23%	-1,684.09%	-6,641.90%	-2,177.88%	-2,302.51%	-2,381.30%	21.28%	-20,030.91%
Operating Margin	-3,466.35%	-4,763.74%	-2,326.29%	-2,166.97%	-1,655.72%	-6,591.70%	-2,179.84%	-2,311.84%	-2,359.23%	21.85%	-20,069.09%
EBIT Margin	-3,466.35%	-4,763.74%	-2,328.06%	-2,166.97%	-1,655.72%	-6,596.05%	-2,179.84%	-2,311.84%	-2,359.23%	21.85%	-20,100.91%
Profit (Net Income) Margin	-3,178.04%	-4,892.37%	-2,171.45%	-2,053.98%	-1,562.92%	-6,385.38%	-2,160.71%	-2,316.15%	-2,419.05%	20.20%	-18,810.00%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	99.93%	100.00%	100.00%	100.00%	104.24%	100.00%
Interest Burden Percent	91.68%	102.70%	93.27%	94.79%	94.39%	96.87%	99.12%	100.19%	102.54%	88.70%	93.58%
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)	-57.81%	-81.47%	-65.81%	-83.22%	-91.66%	-120.84%	-179.12%	-313.82%	-166.97%	-109.41%	-161.12%
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%	0.00%
Operating Return on Assets (OROA)	-107.28%	-137.83%	-47.13%	-45.45%	-45.73%	-203.06%	-88.81%	-118.15%	-73.82%	7.66%	-8,237.26%
Return on Assets (ROA)	-98.35%	-141.55%	-43.96%	-43.08%	-43.17%	-196.57%	-88.03%	-118.37%	-75.69%	7.08%	-7,708.25%
Return on Common Equity (ROCE)	-57.81%	-81.47%	-65.81%	-83.22%	-91.66%	-120.84%	-179.12%	-313.82%	-166.97%	-98.27%	-137.90%
Return on Equity Simple (ROE_SIMPLE)	-57.81%	0.00%	-90.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-10	-8.74	-10	-12	-11	-12	-13	-14	-14	6.75	-15
NOPAT Margin	-2,426.44%	-3,334.62%	-1,628.40%	-1,516.88%	-1,159.01%	-4,614.19%	-1,525.89%	-1,618.29%	-1,651.46%	21.85%	-14,048.36%
Net Nonoperating Expense Percent (NNEP)	-6.26%	-4.97%	-3.43%	-4.75%	-4.69%	-6.29%	-9.66%	-13.17%	-8.61%	-0.68%	-9.04%
Return On Investment Capital (ROIC_SIMPLE)	-	-12.65%	-17.65%	-26.09%	-24.75%	-23.86%	-40.49%	-92.17%	-24.54%	9.82%	-27.47%
Cost of Revenue to Revenue	9.79%	17.94%	5.48%	5.66%	6.89%	22.92%	5.07%	5.50%	5.69%	0.17%	29.09%
SG&A Expenses to Revenue	1,514.08%	1,597.33%	951.13%	831.23%	574.06%	2,332.41%	721.54%	749.28%	824.39%	23.58%	5,793.64%
R&D to Revenue	2,042.48%	3,248.47%	1,469.68%	1,430.08%	1,174.77%	4,336.36%	1,553.23%	1,657.06%	1,629.15%	54.41%	14,346.36%
Operating Expenses to Revenue	3,556.56%	4,845.80%	2,420.81%	2,261.31%	1,748.83%	6,668.77%	2,274.77%	2,406.34%	2,453.54%	77.99%	20,140.00%
Earnings before Interest and Taxes (EBIT)	-15	-12	-14	-17	-16	-17	-19	-19	-20	6.75	-22
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-15	-13	-15	-17	-17	-17	-19	-19	-21	6.58	-22
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.91	4.80	3.30	6.61	4.21	4.61	9.73	348.06	3.06	4.37	6.04
Price to Tangible Book Value (P/TBV)	3.91	4.80	3.30	6.61	4.21	4.61	9.73	348.06	3.06	4.37	6.04
Price to Revenue (P/Rev)	86.56	118.24	85.08	140.30	73.45	57.64	56.82	34.88	47.48	7.00	7.60
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	58.61	85.97	50.10	108.27	47.22	37.42	44.16	27.39	17.64	4.49	5.47
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	0.13	0.02	0.00	0.03	0.00	0.48	0.94	48.76	0.32	0.24	0.30
Long-Term Debt to Equity	0.01	0.02	0.00	0.03	0.00	0.48	0.94	48.76	0.32	0.24	0.30
Financial Leverage	-1.26	-1.36	-1.25	-1.32	-1.35	-1.41	-1.54	-1.99	-1.71	-1.54	-1.71
Leverage Ratio	1.46	1.58	1.39	1.48	1.52	1.70	1.91	2.59	2.00	1.98	2.35
Compound Leverage Factor	1.34	1.63	1.30	1.41	1.44	1.64	1.90	2.60	2.05	1.76	2.20
Debt to Total Capital	11.86%	1.50%	0.00%	2.44%	0.00%	32.65%	48.47%	97.99%	24.51%	19.35%	22.81%
Short-Term Debt to Total Capital	10.62%	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	1.24%	1.50%	0.00%	2.44%	0.00%	32.65%	48.47%	97.99%	24.51%	19.35%	22.81%
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%	12.48%	14.80%
Common Equity to Total Capital	88.14%	98.50%	100.00%	97.56%	100.00%	67.35%	51.53%	2.01%	75.49%	68.17%	62.39%
Debt to EBITDA	-0.20	-0.02	0.00	-0.02	0.00	-0.24	-0.23	-0.20	-0.19	-0.29	-0.27
Net Debt to EBITDA	1.91	1.61	0.00	1.10	0.00	0.81	0.53	0.31	1.11	1.80	1.44
Long-Term Debt to EBITDA	-0.02	-0.02	0.00	-0.02	0.00	-0.24	-0.23	-0.20	-0.19	-0.29	-0.27
Debt to NOPAT	-0.31	-0.03	0.00	-0.03	0.00	-0.36	-0.33	-0.29	-0.27	-0.42	-0.39
Net Debt to NOPAT	2.94	2.47	0.00	1.63	0.00	1.18	0.76	0.44	1.60	2.59	2.06
Long-Term Debt to NOPAT	-0.03	-0.03	0.00	-0.03	0.00	-0.36	-0.33	-0.29	-0.27	-0.42	-0.39
Altman Z-Score	2.79	4.13	0.41	0.93	-1.30	-3.44	-5.73	-10.82	-3.34	-0.25	-1.74
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	10.18%	14.41%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	5.13	7.95	7.34	4.58	4.23	4.27	3.35	2.10	4.73	6.45	7.03
Quick Ratio	5.07	7.82	7.21	4.50	4.13	4.13	3.23	1.99	4.64	6.37	6.90
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	11	-10	-8.70	-9.31	-9.21	-12	-14	-14	2.95	15	-6.75
Operating Cash Flow to CapEx	-54,115.79%	0.00%	-163,925.00%	-9,538.32%	-20,147.06%	-12,771.70%	-14,835.71%	-45,667.65%	-4,693.55%	-6,878.79%	-12,047.83%
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	0.03	0.03	0.02	0.02	0.03	0.03	0.04	0.05	0.03	0.35	0.41
Accounts Receivable Turnover	41.87	28.31	30.99	16.57	26.34	27.62	37.00	36.12	33.75	358.10	378.31
Inventory Turnover	1.40	0.88	1.01	1.34	1.04	1.28	1.71	1.69	0.66	0.79	0.86
Fixed Asset Turnover	2.66	1.99	1.60	1.57	2.03	1.98	2.12	2.26	1.98	21.61	20.07
Accounts Payable Turnover	0.06	0.05	0.06	0.04	0.05	0.05	0.05	0.04	0.03	0.03	0.03
Days Sales Outstanding (DSO)	8.72	12.89	11.78	22.03	13.86	13.21	9.86	10.10	10.82	1.02	0.96
Days Inventory Outstanding (DIO)	260.44	414.06	359.82	272.65	350.82	285.38	213.20	215.45	554.91	463.93	422.42
Days Payable Outstanding (DPO)	5,988.28	6,738.76	6,344.99	10,206.81	7,444.68	7,187.28	7,604.45	9,784.87	12,224.72	10,785.75	12,176.24
Cash Conversion Cycle (CCC)	-5,719.12	-6,311.81	-5,973.39	-9,912.12	-7,080.00	-6,888.69	-7,381.39	-9,559.32	-11,658.99	-10,320.80	-11,752.86
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-21	-21	-20	-22	-23	-20	-20	-22	-40	-30	-28
Invested Capital Turnover	-0.34	-0.13	-0.11	-0.10	-0.12	-0.13	-0.14	-0.13	-0.09	-1.28	-1.36
Increase / (Decrease) in Invested Capital	-21	1.56	-1.40	-2.49	-2.23	0.64	0.68	0.71	-17	-8.37	-8.70
Enterprise Value (EV)	211	237	111	225	125	99	127	81	50	150	179
Market Capitalization	312	326	189	292	194	152	164	103	134	234	249
Book Value per Share	$2.23	$1.90	$1.60	$1.23	$1.22	$0.87	$0.44	$0.01	$0.81	$0.95	$0.70
Tangible Book Value per Share	$2.23	$1.90	$1.60	$1.23	$1.22	$0.87	$0.44	$0.01	$0.81	$0.95	$0.70
Total Capital	90	69	57	45	46	49	33	15	58	79	66
Total Debt	11	1.04	0.00	1.10	0.00	16	16	14	14	15	15
Total Long-Term Debt	1.12	1.04	0.00	1.10	0.00	16	16	14	14	15	15
Net Debt	-101	-89	-78	-67	-69	-53	-37	-22	-84	-94	-79
Capital Expenditures (CapEx)	0.02	-0.00	0.01	0.11	0.07	0.11	0.11	0.03	0.31	0.03	0.18
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-11	-9.69	-9.03	-13	-15	-14	-13	-15	-19	-15	-12
Debt-free Net Working Capital (DFNWC)	98	78	66	52	52	53	36	19	77	91	83
Net Working Capital (NWC)	89	78	66	52	52	53	36	19	77	91	83
Net Nonoperating Expense (NNE)	3.15	4.08	3.37	4.18	3.99	4.48	5.51	5.83	6.61	0.51	5.24
Net Nonoperating Obligations (NNO)	-101	-89	-78	-67	-69	-53	-37	-22	-84	-94	-79
Total Depreciation and Amortization (D&A)	-0.96	-0.56	-0.52	-0.25	-0.28	-0.12	0.02	0.08	-0.19	-0.17	0.08
Debt-free, Cash-free Net Working Capital to Revenue	-292.56%	-351.05%	-407.27%	-635.11%	-551.23%	-524.94%	-466.74%	-513.01%	-663.84%	-45.81%	-36.31%
Debt-free Net Working Capital to Revenue	2,730.21%	2,822.68%	2,978.93%	2,500.10%	1,977.14%	2,007.73%	1,261.75%	639.30%	2,736.44%	272.31%	252.16%
Net Working Capital to Revenue	2,463.65%	2,822.68%	2,978.93%	2,500.10%	1,977.14%	2,007.73%	1,261.75%	639.30%	2,736.44%	272.31%	252.16%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.38)	($0.35)	($0.38)	($0.45)	($0.41)	($0.42)	($0.49)	($0.50)	($0.40)	$0.28	($0.33)
Adjusted Weighted Average Basic Shares Outstanding	35.24M	33.23M	35.78M	35.80M	37.62M	36.82M	38.24M	38.39M	52.19M	47.75M	62.72M
Adjusted Diluted Earnings per Share	($0.38)	($0.35)	($0.38)	($0.45)	($0.41)	($0.42)	($0.49)	($0.50)	($0.40)	$0.28	($0.33)
Adjusted Weighted Average Diluted Shares Outstanding	35.24M	33.23M	35.78M	35.80M	37.62M	36.82M	38.24M	38.39M	52.19M	47.75M	62.72M
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	35.74M	35.78M	35.79M	37.82M	38.01M	38.31M	38.31M	53.96M	56.46M	58.52M	59.88M
Normalized Net Operating Profit after Tax (NOPAT)	-10	-8.74	-10	-12	-11	-12	-13	-14	-14	4.73	-15
Normalized NOPAT Margin	-2,426.44%	-3,334.62%	-1,628.40%	-1,516.88%	-1,159.01%	-4,614.19%	-1,525.89%	-1,618.29%	-1,651.46%	15.29%	-14,048.36%
Pre Tax Income Margin	-3,178.04%	-4,892.37%	-2,171.45%	-2,053.98%	-1,562.92%	-6,389.72%	-2,160.71%	-2,316.15%	-2,419.05%	19.38%	-18,810.00%
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

Orchestra BioMed (NASDAQ: OBIO) remains a cash-rich but still loss-making development-stage company. Over the last several years, the company has continued to post heavy operating losses, but it has also maintained a sizable cash and investment position thanks to financing activity and portfolio investments. The latest quarter shows a renewed return to a large loss, after a profitable fourth quarter in 2025 that appears to have been more of a one-off than a trend.

As of Q1 2026, OBIO held $94.4 million in cash and short-term investments, which provides meaningful near-term liquidity.
The company still has a relatively manageable debt load for a biotech developer, with $14.3 million of long-term debt and $730,000 in capital lease obligations.
Interest and investment income has helped offset losses in some periods, including $1.4 million in Q1 2026 and $2.4 million in Q4 2024.
Revenue has shown some growth over time, moving from the low hundreds of thousands per quarter in 2024 to roughly $0.8 million to $0.9 million in several 2025 quarters, before jumping to $30.9 million in Q4 2025.
The balance sheet in Q1 2026 still shows $41.2 million of common equity, indicating the company is not in immediate balance-sheet distress.
Q4 2025 included a major revenue spike and a reported net profit of $6.2 million, but Q1 2026 quickly reversed back to a $20.7 million net loss, suggesting the profitable quarter may have been driven by non-recurring items.
Operating expenses remain very high relative to revenue, with Q1 2026 revenue of only $110,000 versus $22.2 million in operating expenses.
The company’s cash position fell from $101.0 million at year-end 2025 to $94.4 million in Q1 2026, reflecting continued burn.
Share count has been elevated and somewhat volatile, which can limit per-share upside for existing investors.
OBIO has a long history of quarterly operating losses, including -$18.9 million in Q1 2025, -$19.3 million in Q2 2025, -$20.3 million in Q3 2025, and -$22.1 million in Q1 2026.
Cash from operations was negative $22.2 million in Q1 2026, showing the business is still consuming cash at a rapid pace.
Retained earnings are deeply negative at -$383.3 million, underscoring cumulative losses over time.
In Q1 2026, the company burned $6.3 million in net cash despite having investment activity and financing inflows, highlighting dependence on external funding and asset liquidity.

Bottom line: Orchestra BioMed has enough liquidity to keep operating in the near term, but the core financial picture is still one of high cash burn, thin recurring revenue, and persistent losses. Investors should watch whether the Q4 2025 profit was a real inflection point or just a temporary boost, and whether management can narrow operating losses without sacrificing pipeline progress.

07/05/26 12:42 PM ETAI Generated. May Contain Errors.

Orchestra BioMed Financials - Frequently Asked Questions

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

Orchestra BioMed's net income appears to be on an upward trend, with a most recent value of -$52.70 million in 2025, rising from -$378.75 thousand in 2021. The previous period was -$61.02 million in 2024. See Orchestra BioMed's forecast for analyst expectations on what's next for the company.

Orchestra BioMed's total operating income in 2025 was -$51.81 million, based on the following breakdown:

Total Gross Profit: $33.29 million
Total Operating Expenses: $85.10 million

Over the last 4 years, Orchestra BioMed's total revenue changed from $0.00 in 2021 to $33.48 million in 2025, a change of 3,348,200,000.0%.

Orchestra BioMed's total liabilities were at $51.48 million at the end of 2025, a 19.1% increase from 2024, and a 800.1% increase since 2020.

In the past 5 years, Orchestra BioMed's cash and equivalents has ranged from $1.75 million in 2021 to $34.69 million in 2025, and is currently $34.69 million as of their latest financial filing in 2025.

Over the last 4 years, Orchestra BioMed's book value per share changed from -0.19 in 2021 to 0.95 in 2025, a change of -592.1%.

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Financial statements for NASDAQ:OBIO last updated on 7/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Orchestra BioMed (OBIO) Financials

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Orchestra BioMed (OBIO) Financials

Annual Income Statements for Orchestra BioMed

Quarterly Income Statements for Orchestra BioMed

Annual Cash Flow Statements for Orchestra BioMed

Quarterly Cash Flow Statements for Orchestra BioMed

Annual Balance Sheets for Orchestra BioMed

Quarterly Balance Sheets for Orchestra BioMed

Annual Metrics And Ratios for Orchestra BioMed

Quarterly Metrics And Ratios for Orchestra BioMed

Financials Breakdown Chart

Key Financial Trends

Orchestra BioMed Financials - Frequently Asked Questions

When does Orchestra BioMed's fiscal year end?

How has Orchestra BioMed's net income changed over the last 4 years?

What is Orchestra BioMed's operating income?

How has Orchestra BioMed's revenue changed over the last 4 years?

How much debt does Orchestra BioMed have?

How much cash does Orchestra BioMed have?

How has Orchestra BioMed's book value per share changed over the last 4 years?

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