What is Rallybio's operating income?

Rallybio's total operating income in 2025 was -$33.06 million, based on the following breakdown: Total Gross Profit: $858 thousand Total Operating Expenses: $33.92 million

Rallybio (RLYB) Financials

$15.73 -0.10 (-0.63%)

Closing price 07/10/2026 04:00 PM Eastern

Extended Trading

$15.73 0.00 (0.00%)

As of 07/10/2026 07:43 PM Eastern

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Annual Income Statements for Rallybio

This table shows Rallybio's 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	-26	-47	-67	-75	-58	-8.98
Consolidated Net Income / (Loss)	-26	-47	-67	-75	-58	-8.98
Net Income / (Loss) Continuing Operations	-26	-47	-67	-75	-58	-8.98
Total Pre-Tax Income	-25	-46	-66	-73	-56	-8.10
Total Operating Income	-25	-46	-68	-79	-60	-33
Total Gross Profit	0.00	0.00	0.00	0.00	0.64	0.86
Total Revenue	0.00	0.00	0.00	0.00	0.64	0.86
Total Cost of Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	25	46	68	79	61	34
Selling, General & Admin Expense	7.67	19	27	25	20	14
Research & Development Expense	18	27	41	54	42	20
Total Other Income / (Expense), net	0.36	0.14	1.02	6.41	4.96	25
Interest & Investment Income	0.17	0.05	0.89	6.15	4.22	2.19
Other Income / (Expense), net	0.24	0.10	0.13	0.26	0.74	23
Other Gains / (Losses), net	-1.52	-1.51	-	-2.04	-2.24	-0.87
Basic Earnings per Share	($1.52)	($1.84)	($2.09)	($1.84)	($10.61)	($1.59)
Weighted Average Basic Shares Outstanding	17.39M	25.52M	31.82M	40.45M	5.44M	5.63M
Diluted Earnings per Share	($1.52)	($1.84)	($2.09)	($1.84)	($10.61)	($1.59)
Weighted Average Diluted Shares Outstanding	17.39M	25.52M	31.82M	40.45M	5.44M	5.63M
Weighted Average Basic & Diluted Shares Outstanding	17.39M	25.52M	38.08M	37.81M	41.61M	5.29M

This table shows Rallybio'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	-18	-20	-19	-16	-11	-11	-9.44	-9.70	16	-5.85	-8.28
Consolidated Net Income / (Loss)	-18	-20	-19	-16	-11	-11	-9.44	-9.70	16	-5.85	-8.28
Net Income / (Loss) Continuing Operations	-18	-20	-19	-16	-11	-11	-9.44	-9.70	16	-5.85	-8.28
Total Pre-Tax Income	-18	-20	-18	-16	-11	-11	-8.85	-9.42	16	-5.85	-8.28
Total Operating Income	-19	-21	-20	-17	-12	-12	-9.67	-10	-6.93	-6.41	-8.73
Total Gross Profit	0.00	-	0.00	0.30	0.30	0.00	0.21	0.21	0.21	0.22	0.21
Total Revenue	0.00	-	0.00	0.30	0.30	0.00	0.21	0.21	0.21	0.22	0.21
Operating Revenue	-	-	-	-	-	-	-	-	0.21	-	0.21
Total Cost of Revenue	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Operating Expenses	19	21	20	17	12	12	9.88	10	7.14	6.63	8.95
Selling, General & Admin Expense	6.08	5.19	6.85	4.39	4.13	4.26	4.16	4.20	2.99	2.98	6.07
Research & Development Expense	13	16	13	13	8.24	7.39	5.73	6.07	4.14	3.66	2.87
Total Other Income / (Expense), net	1.64	1.89	1.44	1.29	1.24	1.77	0.82	0.64	23	0.56	0.46
Interest & Investment Income	1.55	2.01	1.28	1.14	0.99	1.50	0.64	0.52	0.46	0.56	0.20
Other Income / (Expense), net	0.09	-0.12	0.17	0.14	0.25	0.27	0.17	0.12	22	-	0.25
Basic Earnings per Share	($0.45)	($0.50)	($0.47)	($0.37)	($0.26)	($0.23)	($1.69)	($0.22)	$0.36	($1.04)	($1.46)
Weighted Average Basic Shares Outstanding	40.53M	40.45M	40.77M	44.13M	44.59M	43.54M	5.60M	44.84M	45.06M	5.63M	5.69M
Diluted Earnings per Share	($0.45)	($0.50)	($0.47)	($0.37)	($0.26)	($0.23)	($1.69)	($0.22)	$0.36	($1.04)	($1.46)
Weighted Average Diluted Shares Outstanding	40.53M	40.45M	40.77M	44.13M	44.59M	43.54M	5.60M	44.84M	45.06M	5.63M	5.69M
Weighted Average Basic & Diluted Shares Outstanding	37.79M	37.81M	41.45M	41.49M	41.49M	41.61M	41.61M	41.79M	42.24M	5.29M	5.30M

This table details how cash moves in and out of Rallybio's 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	121	35	-118	-32	-11	17
Net Cash From Operating Activities	-22	-46	-57	-60	-49	-30
Net Cash From Continuing Operating Activities	-22	-46	-57	-60	-49	-30
Net Income / (Loss) Continuing Operations	-26	-47	-67	-75	-58	-8.98
Consolidated Net Income / (Loss)	-26	-47	-67	-75	-58	-8.98
Depreciation Expense	0.06	0.11	0.17	0.15	0.13	0.09
Amortization Expense	-	0.00	-0.44	-3.09	-1.61	-0.57
Non-Cash Adjustments To Reconcile Net Income	2.23	5.15	11	13	10	-16
Changes in Operating Assets and Liabilities, net	2.12	-3.78	-0.94	4.28	-0.26	-4.19
Net Cash From Investing Activities	-2.07	-2.33	-112	28	33	47
Net Cash From Continuing Investing Activities	-2.07	-2.33	-112	28	33	47
Acquisitions	-1.94	-2.00	-0.30	-2.25	-2.00	-1.50
Purchase of Investments	-	0.00	-201	-108	-49	-18
Divestitures	-	-	-	-	0.00	20
Sale and/or Maturity of Investments	-	0.00	90	138	84	46
Net Cash From Financing Activities	145	83	51	0.14	5.20	0.02
Net Cash From Continuing Financing Activities	145	83	51	0.14	5.20	0.02
Repurchase of Common Equity	-0.32	-3.23	-0.69	-0.14	-0.27	0.00
Issuance of Common Equity	145	86	0.22	0.28	5.47	0.02

This table details how cash moves in and out of Rallybio'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	-13	5.34	-5.19	-2.63	8.65	-11	0.88	-5.33	23	-0.75	9.93
Net Cash From Operating Activities	-16	-12	-15	-10	-14	-9.86	-10	-8.38	-6.55	-4.68	-7.98
Net Cash From Continuing Operating Activities	-16	-12	-15	-10	-14	-9.86	-10	-8.38	-6.55	-4.68	-7.98
Net Income / (Loss) Continuing Operations	-18	-20	-19	-16	-11	-11	-9.44	-9.70	16	-5.85	-8.28
Consolidated Net Income / (Loss)	-18	-20	-19	-16	-11	-11	-9.44	-9.70	16	-5.85	-8.28
Depreciation Expense	0.04	0.04	0.04	0.03	0.03	0.03	0.03	0.03	0.04	0.00	0.00
Amortization Expense	-0.70	-0.66	-0.54	-0.42	-0.34	-0.32	-0.21	-0.15	-0.11	-0.10	-0.05
Non-Cash Adjustments To Reconcile Net Income	3.28	3.16	2.77	2.40	2.66	2.39	2.47	1.90	-21	0.77	0.61
Changes in Operating Assets and Liabilities, net	-0.71	6.06	1.30	3.80	-4.43	-0.93	-3.05	-0.45	-1.19	0.49	-0.27
Net Cash From Investing Activities	3.07	17	10	2.60	22	-1.57	11	3.04	29	3.93	18
Net Cash From Continuing Investing Activities	3.06	17	10	2.60	22	-1.57	11	3.04	29	3.93	18
Acquisitions	-0.75	-0.75	-0.75	-0.75	-0.50	-	-1.00	-0.50	-	-	0.00
Purchase of Investments	-34	-13	-11	-19	-1.72	-17	-5.92	-3.97	-0.74	-7.08	0.00
Sale and/or Maturity of Investments	38	30	22	23	24	16	18	7.50	9.97	11	18
Net Cash From Financing Activities	-	0.07	0.00	5.19	-0.01	0.02	0.00	0.01	-	0.01	0.00
Net Cash From Continuing Financing Activities	-	0.07	0.00	5.19	-0.01	0.02	0.00	0.01	-	0.01	0.00
Issuance of Common Equity	-	0.07	-	-	-	0.02	0.00	-	-	0.01	0.00

This table presents Rallybio'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	142	182	180	116	68	62
Total Current Assets	141	181	179	115	68	61
Cash & Equivalents	140	175	57	24	14	31
Short-Term Investments	-	0.00	112	85	52	23
Prepaid Expenses	1.03	5.54	11	4.86	2.33	6.52
Plant, Property, & Equipment, net	0.29	0.51	0.39	0.25	0.12	0.02
Total Noncurrent Assets	0.31	0.81	0.55	0.59	0.15	0.99
Other Noncurrent Operating Assets	-	0.00	0.52	0.35	0.15	0.99
Total Liabilities & Shareholders' Equity	142	182	180	116	68	62
Total Liabilities	5.86	6.58	11	9.44	6.45	4.31
Total Current Liabilities	5.84	6.55	11	9.26	6.24	4.22
Accounts Payable	1.58	0.60	1.11	0.98	0.28	0.13
Accrued Expenses	4.26	5.95	9.45	8.07	4.96	3.79
Current Deferred Revenue	-	-	-	0.00	0.85	0.21
Other Current Liabilities	-	0.00	0.18	0.22	0.15	0.09
Total Noncurrent Liabilities	0.01	0.03	0.37	0.17	0.21	0.08
Other Noncurrent Operating Liabilities	0.01	0.03	0.37	0.17	0.00	0.08
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	136	176	169	106	62	58
Total Preferred & Common Equity	136	176	169	106	62	58
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	136	176	169	106	62	58
Common Stock	183	270	330	341	355	360
Retained Earnings	-47	-94	-161	-235	-293	-302
Accumulated Other Comprehensive Income / (Loss)	-	0.00	-0.21	0.02	0.07	0.02

This table presents Rallybio'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	133	99	92	79	58	51	68	54
Total Current Assets	132	99	91	78	57	50	67	53
Cash & Equivalents	19	19	17	25	15	9.45	32	41
Short-Term Investments	102	75	72	50	40	36	27	5.50
Prepaid Expenses	11	4.37	2.82	3.09	2.89	4.52	7.31	6.70
Plant, Property, & Equipment, net	0.28	0.21	0.18	0.15	0.09	0.06	0.03	0.02
Total Noncurrent Assets	0.49	0.60	0.82	0.63	0.52	0.68	1.01	0.96
Other Noncurrent Operating Assets	0.39	0.30	0.25	0.20	0.10	0.05	1.01	0.96
Total Liabilities & Shareholders' Equity	133	99	92	79	58	51	68	54
Total Liabilities	9.61	10	12	8.19	3.91	5.04	4.63	4.20
Total Current Liabilities	9.40	10	12	8.19	3.91	5.04	4.52	4.14
Accounts Payable	0.46	0.47	1.22	0.58	0.40	0.12	0.27	0.94
Accrued Expenses	8.72	9.39	9.52	6.28	2.55	4.23	3.74	3.10
Current Deferred Revenue	-	-	1.20	1.10	0.85	0.64	0.42	0.00
Other Current Liabilities	0.22	0.22	0.23	0.23	0.12	0.06	0.09	0.10
Total Noncurrent Liabilities	0.21	0.12	0.25	0.00	0.00	0.00	0.11	0.06
Other Noncurrent Operating Liabilities	0.21	0.12	0.06	0.00	-	-	0.11	0.06
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	124	89	80	71	54	46	63	50
Total Preferred & Common Equity	124	89	80	71	54	46	63	50
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	124	89	80	71	54	46	63	50
Common Stock	339	344	351	353	356	358	359	361
Retained Earnings	-215	-254	-271	-282	-302	-312	-296	-310
Accumulated Other Comprehensive Income / (Loss)	-0.21	-0.07	-0.07	0.17	0.05	0.02	0.02	0.00

This table displays calculated financial ratios and metrics derived from Rallybio's 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	32,129,970.00	32,034,632.00	37,793,705.00	-	42,243,774.00
DEI Adjusted Shares Outstanding	0.00	32,129,970.00	32,034,632.00	37,793,705.00	-	42,243,774.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	-1.46	-2.08	-1.97	-	-0.21
Growth Metrics	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	0.00%	0.00%	0.00%	34.91%
EBITDA Growth	0.00%	-81.77%	-49.69%	-19.97%	24.97%	82.40%
EBIT Growth	0.00%	-81.76%	-48.74%	-16.11%	24.05%	82.77%
NOPAT Growth	0.00%	-80.41%	-48.71%	-16.27%	23.36%	45.35%
Net Income Growth	0.00%	-77.76%	-41.78%	-11.87%	22.52%	84.46%
EPS Growth	0.00%	-21.05%	-13.59%	11.96%	27.72%	84.46%
Operating Cash Flow Growth	0.00%	-106.60%	-25.81%	-5.20%	18.22%	39.51%
Free Cash Flow Firm Growth	0.00%	0.00%	-34.46%	-5.43%	16.68%	28.85%
Invested Capital Growth	0.00%	88.17%	154.56%	-1,459.73%	3.19%	183.48%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.33%	34.48%
EBITDA Q/Q Growth	0.00%	0.00%	-8.85%	-5.36%	14.03%	32.57%
EBIT Q/Q Growth	0.00%	0.00%	-8.09%	-5.29%	13.92%	32.75%
NOPAT Q/Q Growth	0.00%	0.00%	-7.57%	-5.37%	13.58%	13.58%
Net Income Q/Q Growth	0.00%	0.00%	-6.03%	-5.73%	13.73%	36.64%
EPS Q/Q Growth	0.00%	0.00%	-2.96%	-3.37%	16.88%	36.64%
Operating Cash Flow Q/Q Growth	0.00%	-6.12%	-10.36%	5.67%	3.49%	14.81%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	7.74%	-0.76%	14.26%
Invested Capital Q/Q Growth	0.00%	0.00%	140.64%	-290.17%	18.83%	-13.32%
Profitability Metrics	-	-	-	-	-	-
Gross Margin	0.00%	0.00%	0.00%	0.00%	100.00%	100.00%
EBITDA Margin	0.00%	0.00%	0.00%	0.00%	-10,205.50%	-1,255.71%
Operating Margin	0.00%	0.00%	0.00%	0.00%	-10,082.67%	-3,853.61%
EBIT Margin	0.00%	0.00%	0.00%	0.00%	-9,958.67%	-1,199.65%
Profit (Net Income) Margin	0.00%	0.00%	0.00%	0.00%	-9,629.17%	-1,046.39%
Tax Burden Percent	106.04%	103.31%	101.64%	102.81%	104.03%	110.78%
Interest Burden Percent	99.51%	99.90%	96.79%	92.19%	92.94%	78.73%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	-19.45%	-30.17%	-38.65%	-54.13%	-68.85%	-15.01%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	-16,501.30%	0.00%	0.00%	-938.57%
Operating Return on Assets (OROA)	0.00%	0.00%	0.00%	0.00%	-65.04%	-15.79%
Return on Assets (ROA)	0.00%	0.00%	0.00%	0.00%	-62.89%	-13.77%
Return on Common Equity (ROCE)	-19.45%	-30.17%	-38.65%	-54.13%	-68.85%	-15.01%
Return on Equity Simple (ROE_SIMPLE)	-19.45%	-26.77%	-39.37%	-70.22%	-93.71%	0.00%
Net Operating Profit after Tax (NOPAT)	-18	-32	-48	-55	-42	-23
NOPAT Margin	0.00%	0.00%	0.00%	0.00%	-7,057.87%	-2,697.53%
Net Nonoperating Expense Percent (NNEP)	-6.22%	-9.51%	-11.09%	-13.83%	-17.56%	23.56%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-52.03%	-68.69%	-39.94%
Cost of Revenue to Revenue	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%	3,270.83%	1,669.58%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	6,917.83%	2,284.03%
Operating Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	10,188.67%	3,953.61%
Earnings before Interest and Taxes (EBIT)	-25	-46	-68	-79	-60	-10
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-25	-45	-68	-82	-61	-11
Valuation Ratios	-	-	-	-	-	-
Price to Book Value (P/BV)	0.55	1.75	1.24	0.85	0.65	0.50
Price to Tangible Book Value (P/TBV)	0.55	1.75	1.24	0.85	0.65	0.50
Price to Revenue (P/Rev)	0.00	0.00	0.00	0.00	66.38	33.78
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	141.45	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	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
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-1.03	-1.02	-1.00	-1.01	-1.05	-1.01
Leverage Ratio	1.04	1.04	1.05	1.07	1.09	1.09
Compound Leverage Factor	1.04	1.04	1.02	0.99	1.02	0.86
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	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%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	7.76	27.54	9.99	1.74	-4.12	-2.18
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-
Current Ratio	24.18	27.61	16.71	12.39	10.87	14.50
Quick Ratio	24.00	26.76	15.73	11.87	10.50	12.96
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-36	-48	-51	-42	-30
Operating Cash Flow to CapEx	-16,086.86%	-13,673.57%	-106,081.48%	-502,208.33%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	-3,595.66	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	-449.78	-4,553.30	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-452.57	-4,586.60	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-
Asset Turnover	0.00	0.00	0.00	0.00	0.01	0.01
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	0.00	3.32	12.43
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-
Invested Capital	-4.54	-0.54	0.29	-3.98	-3.86	3.22
Invested Capital Turnover	0.00	0.00	0.00	0.00	-0.15	-2.69
Increase / (Decrease) in Invested Capital	0.00	4.00	0.83	-4.28	0.13	7.08
Enterprise Value (EV)	-66	130	41	-20	-26	-26
Market Capitalization	75	307	210	90	40	29
Book Value per Share	$7.82	$5.47	$5.29	$2.81	$1.49	$1.37
Tangible Book Value per Share	$7.82	$5.47	$5.29	$2.81	$1.49	$1.37
Total Capital	136	176	169	106	62	58
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	-141	-176	-169	-110	-66	-55
Capital Expenditures (CapEx)	0.14	0.33	0.05	0.01	0.00	0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-4.82	-1.02	-0.24	-4.40	-3.91	2.29
Debt-free Net Working Capital (DFNWC)	135	174	169	106	62	57
Net Working Capital (NWC)	135	174	169	106	62	57
Net Nonoperating Expense (NNE)	8.73	15	19	19	15	-14
Net Nonoperating Obligations (NNO)	-141	-176	-169	-110	-66	-55
Total Depreciation and Amortization (D&A)	0.06	0.11	-0.27	-2.94	-1.48	-0.48
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	-652.00%	267.37%
Debt-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	10,266.50%	6,646.85%
Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	10,266.50%	6,646.85%
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($1.84)	($2.09)	($1.84)	($1.33)	($1.59)
Adjusted Weighted Average Basic Shares Outstanding	0.00	32.13M	31.82M	40.45M	43.54M	5.63M
Adjusted Diluted Earnings per Share	$0.00	($1.84)	($2.09)	($1.84)	($1.33)	($1.59)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	32.13M	31.82M	40.45M	43.54M	5.63M
Adjusted Basic & Diluted Earnings per Share	$0.00	($1.84)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	25.52M	38.08M	37.81M	41.61M	5.29M
Normalized Net Operating Profit after Tax (NOPAT)	-18	-32	-48	-55	-42	-23
Normalized NOPAT Margin	0.00%	0.00%	0.00%	0.00%	-7,057.87%	-2,697.53%
Pre Tax Income Margin	0.00%	0.00%	0.00%	0.00%	-9,256.00%	-944.52%
Debt Service Ratios	-	-	-	-	-	-
EBIT to Interest Expense	-511.47	-4,555.20	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	-361.47	-3,195.36	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-514.27	-4,588.50	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-364.27	-3,228.66	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-1.21%	-6.88%	-1.04%	-0.19%	-0.46%	0.00%

This table displays calculated financial ratios and metrics derived from Rallybio'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	37,800,856.00	37,793,705.00	37,811,970.00	41,449,297.00	41,487,586.00	-	41,612,039.00	41,613,964.00	41,786,471.00	42,243,774.00	5,289,675.00
DEI Adjusted Shares Outstanding	37,800,856.00	37,793,705.00	37,811,970.00	41,449,297.00	41,487,586.00	-	41,612,039.00	41,613,964.00	41,786,471.00	42,243,774.00	5,289,675.00
DEI Earnings Per Adjusted Shares Outstanding	-0.49	-0.54	-0.50	-0.39	-0.28	-	-0.23	-0.23	0.38	-0.14	-1.56
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-29.10%	-29.10%	484.21%	0.00%
EBITDA Growth	-6.04%	-23.47%	-5.89%	17.02%	39.19%	46.80%	51.91%	41.73%	227.65%	44.45%	11.89%
EBIT Growth	-2.71%	-22.90%	-8.11%	15.63%	38.69%	46.59%	51.60%	41.16%	231.65%	43.88%	10.71%
NOPAT Growth	-2.67%	-23.53%	-7.69%	15.18%	37.69%	45.02%	51.13%	40.96%	18.01%	44.76%	9.69%
Net Income Growth	-0.02%	-24.93%	-9.88%	12.85%	37.60%	45.44%	50.40%	40.24%	239.68%	47.01%	12.30%
EPS Growth	25.00%	-13.64%	-9.30%	19.57%	42.22%	54.00%	50.40%	40.54%	238.46%	47.01%	13.61%
Operating Cash Flow Growth	-11.78%	23.71%	17.63%	22.16%	17.76%	15.31%	33.98%	19.57%	51.64%	52.56%	21.82%
Free Cash Flow Firm Growth	-16.92%	17.92%	75.75%	91.19%	90.23%	21.41%	-185.84%	-1,078.21%	-862.48%	-40.14%	7.34%
Invested Capital Growth	390.57%	-1,459.73%	-215.92%	-745.88%	-326.83%	3.19%	84.31%	95.52%	178.18%	183.48%	517.01%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	-99.33%	457.89%	0.00%	0.00%	4.72%	-4.50%
EBITDA Q/Q Growth	4.23%	-9.60%	7.90%	14.16%	29.81%	4.12%	17.36%	-4.01%	253.75%	-142.04%	-31.06%
EBIT Q/Q Growth	3.75%	-10.17%	7.58%	13.90%	30.06%	4.03%	16.88%	-4.67%	256.49%	-141.22%	-32.24%
NOPAT Q/Q Growth	3.59%	-9.03%	6.28%	13.91%	29.17%	3.80%	16.70%	-4.00%	1.63%	35.19%	-36.20%
Net Income Q/Q Growth	1.37%	-10.17%	5.99%	14.68%	29.38%	3.68%	14.53%	-2.80%	265.06%	-136.54%	-41.46%
EPS Q/Q Growth	2.17%	-11.11%	6.00%	21.28%	29.73%	11.54%	14.53%	-4.76%	263.64%	-136.54%	-40.38%
Operating Cash Flow Q/Q Growth	-23.06%	29.30%	-32.74%	32.60%	-30.02%	27.19%	-3.48%	17.89%	21.83%	28.56%	-70.51%
Free Cash Flow Firm Q/Q Growth	-7.55%	35.85%	62.50%	65.96%	-19.30%	-416.05%	-36.39%	-40.32%	2.54%	24.86%	9.82%
Invested Capital Q/Q Growth	47.64%	-290.17%	-33.58%	-72.21%	48.15%	18.83%	78.35%	50.78%	1,003.89%	-13.32%	8.14%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	0.00%	0.00%	0.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	0.00%	0.00%	0.00%	-5,777.26%	-4,054.85%	-581,250.00%	-4,565.09%	-4,748.11%	7,300.00%	-2,930.63%	-4,022.17%
Operating Margin	0.00%	0.00%	0.00%	-5,697.32%	-4,035.45%	-580,400.00%	-4,561.32%	-4,743.87%	-3,266.51%	-2,888.29%	-4,119.34%
EBIT Margin	0.00%	0.00%	0.00%	-5,649.50%	-3,951.51%	-566,950.00%	-4,479.25%	-4,688.21%	7,336.79%	-2,888.29%	-3,999.53%
Profit (Net Income) Margin	0.00%	0.00%	0.00%	-5,430.10%	-3,834.78%	-552,200.00%	-4,452.36%	-4,576.89%	7,554.72%	-2,636.04%	-3,904.72%
Tax Burden Percent	103.66%	103.12%	103.73%	103.09%	105.88%	104.05%	106.63%	103.05%	100.00%	100.00%	100.00%
Interest Burden Percent	91.98%	92.46%	93.50%	93.23%	91.65%	93.61%	93.22%	94.74%	102.97%	91.27%	97.63%
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%	-1,869.34%
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%	-1,865.09%
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%	1,817.77%
Return on Equity (ROE)	-55.20%	-54.13%	-62.43%	-67.39%	-68.90%	-68.85%	-67.28%	-66.12%	-21.17%	-15.01%	-51.57%
Cash Return on Invested Capital (CROIC)	-2,637.41%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-948.83%	-938.57%	-769.84%
Operating Return on Assets (OROA)	0.00%	0.00%	0.00%	-14.08%	-22.27%	-3,702.97%	-48.28%	-47.39%	63.83%	-38.02%	-61.03%
Return on Assets (ROA)	0.00%	0.00%	0.00%	-13.53%	-21.61%	-3,606.64%	-47.99%	-46.27%	65.73%	-34.70%	-59.58%
Return on Common Equity (ROCE)	-55.20%	-54.13%	-62.43%	-67.39%	-68.90%	-68.85%	-67.28%	-66.12%	-21.17%	-15.01%	-51.57%
Return on Equity Simple (ROE_SIMPLE)	-57.07%	0.00%	-85.55%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-14	-15	-14	-12	-8.45	-8.13	-6.77	-7.04	-6.93	-4.49	-6.11
NOPAT Margin	0.00%	0.00%	0.00%	-3,988.13%	-2,824.82%	-406,280.00%	-3,192.92%	-3,320.71%	-3,266.51%	-2,021.80%	-2,883.54%
Net Nonoperating Expense Percent (NNEP)	-3.79%	-3.91%	-4.23%	-3.80%	-3.06%	-3.32%	-3.57%	-3.93%	34.01%	-2.27%	-4.26%
Return On Investment Capital (ROIC_SIMPLE)	-	-13.92%	-15.54%	-14.90%	-11.93%	-13.18%	-12.52%	-15.32%	-10.99%	-7.74%	-12.16%
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%	1,467.56%	1,379.60%	213,050.00%	1,960.85%	1,978.77%	1,412.26%	1,341.89%	2,865.09%
R&D to Revenue	0.00%	0.00%	0.00%	4,329.77%	2,755.85%	369,250.00%	2,700.47%	2,865.09%	1,954.25%	1,646.40%	1,354.25%
Operating Expenses to Revenue	0.00%	0.00%	0.00%	5,797.32%	4,135.45%	582,300.00%	4,661.32%	4,843.87%	3,366.51%	2,988.29%	4,219.34%
Earnings before Interest and Taxes (EBIT)	-19	-21	-20	-17	-12	-11	-9.50	-9.94	16	-6.41	-8.48
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-20	-22	-20	-17	-12	-12	-9.68	-10	15	-6.51	-8.53
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.03	0.85	0.78	0.69	0.69	0.65	0.50	0.31	0.33	0.50	0.94
Price to Tangible Book Value (P/TBV)	1.03	0.85	0.78	0.69	0.69	0.65	0.50	0.31	0.33	0.50	0.94
Price to Revenue (P/Rev)	0.00	0.00	0.00	185.76	81.17	66.38	32.12	19.40	32.68	33.78	55.30
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)	2.82	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.19
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	0.76
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.99	-1.01	-1.00	-1.04	-1.01	-1.05	-1.04	-1.08	-1.01	-1.01	-0.97
Leverage Ratio	1.08	1.07	1.07	1.09	1.09	1.09	1.10	1.14	1.10	1.09	1.08
Compound Leverage Factor	1.00	0.99	1.00	1.02	1.00	1.02	1.02	1.08	1.13	0.99	1.05
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	6.32	3.38	0.95	-0.98	-0.86	-1.78	-2.54	-6.46	-1.55	-1.98	-0.60
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	14.08	12.39	9.77	7.52	9.55	10.87	14.68	9.98	14.74	14.50	12.92
Quick Ratio	12.91	11.87	9.34	7.29	9.18	10.50	13.94	9.08	13.13	12.96	11.30
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-16	-11	-3.94	-1.34	-1.60	-8.25	-11	-16	-15	-12	-10
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	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	0.00	0.00	0.00	0.00	0.01	0.01	0.01	0.01	0.01	0.01	0.02
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	1.23	2.80	3.32	5.69	6.09	7.46	12.43	16.04
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	2.10	-3.98	-5.32	-9.17	-4.75	-3.86	-0.84	-0.41	3.72	3.22	3.48
Invested Capital Turnover	0.00	0.00	0.00	-0.08	-0.45	-0.15	-0.28	-0.15	-1.23	-2.69	0.65
Increase / (Decrease) in Invested Capital	2.82	-4.28	-9.91	-11	-6.85	0.13	4.49	8.75	8.47	7.08	4.32
Enterprise Value (EV)	5.90	-20	-25	-34	-27	-26	-28	-32	-38	-26	0.65
Market Capitalization	127	90	70	56	49	40	27	14	21	29	47
Book Value per Share	$3.27	$2.81	$2.36	$1.93	$1.71	$1.49	$1.30	$1.10	$1.51	$1.37	$9.50
Tangible Book Value per Share	$3.27	$2.81	$2.36	$1.93	$1.71	$1.49	$1.30	$1.10	$1.51	$1.37	$9.50
Total Capital	124	106	89	80	71	62	54	46	63	58	50
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	-121	-110	-94	-89	-76	-66	-55	-46	-59	-55	-47
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1.64	-4.40	-5.72	-9.34	-5.10	-3.91	-1.02	-0.52	2.79	2.29	2.56
Debt-free Net Working Capital (DFNWC)	123	106	88	79	70	62	53	45	62	57	49
Net Working Capital (NWC)	123	106	88	79	70	62	53	45	62	57	49
Net Nonoperating Expense (NNE)	4.82	5.46	5.18	4.31	3.02	2.92	2.67	2.66	-23	1.36	2.16
Net Nonoperating Obligations (NNO)	-121	-110	-94	-89	-76	-66	-55	-46	-59	-55	-47
Total Depreciation and Amortization (D&A)	-0.67	-0.62	-0.50	-0.38	-0.31	-0.29	-0.18	-0.13	-0.08	-0.09	-0.05
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	-3,123.41%	-852.51%	-652.00%	-120.75%	-72.14%	437.15%	267.37%	297.79%
Debt-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	26,513.38%	11,712.54%	10,266.50%	6,305.54%	6,238.07%	9,734.80%	6,646.85%	5,751.75%
Net Working Capital to Revenue	0.00%	0.00%	0.00%	26,513.38%	11,712.54%	10,266.50%	6,305.54%	6,238.07%	9,734.80%	6,646.85%	5,751.75%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.45)	($0.50)	($0.47)	($0.37)	($0.26)	($0.23)	($1.68)	($0.22)	$0.36	($8.32)	($1.46)
Adjusted Weighted Average Basic Shares Outstanding	40.53M	40.45M	40.77M	44.13M	44.59M	43.54M	5.60M	44.84M	45.06M	703.67K	5.69M
Adjusted Diluted Earnings per Share	($0.45)	($0.50)	($0.47)	($0.37)	($0.26)	($0.23)	($1.68)	($0.22)	$0.36	($8.32)	($1.46)
Adjusted Weighted Average Diluted Shares Outstanding	40.53M	40.45M	40.77M	44.13M	44.59M	43.54M	5.60M	44.84M	45.06M	703.67K	5.69M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	($8.32)	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	37.79M	37.81M	41.45M	41.49M	41.49M	41.61M	5.20M	41.79M	42.24M	661.21K	5.30M
Normalized Net Operating Profit after Tax (NOPAT)	-14	-15	-14	-12	-8.45	-8.13	-6.77	-7.04	-4.85	-4.49	-6.11
Normalized NOPAT Margin	0.00%	0.00%	0.00%	-3,988.13%	-2,824.82%	-406,280.00%	-3,192.92%	-3,320.71%	-2,286.56%	-2,021.80%	-2,883.54%
Pre Tax Income Margin	0.00%	0.00%	0.00%	-5,267.22%	-3,621.74%	-530,700.00%	-4,175.47%	-4,441.51%	7,554.72%	-2,636.04%	-3,904.72%
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	-1.04%	-0.19%	0.00%	-0.35%	-0.40%	-0.46%	0.00%	-0.03%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Rallybio Financials - Frequently Asked Questions

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

Rallybio's net income appears to be on a downward trend, with a most recent value of -$8.98 million in 2025, falling from -$26.45 million in 2020. The previous period was -$57.78 million in 2024. See Rallybio's forecast for analyst expectations on what's next for the company.

Rallybio's total operating income in 2025 was -$33.06 million, based on the following breakdown:

Total Gross Profit: $858 thousand
Total Operating Expenses: $33.92 million

Over the last 5 years, Rallybio's total revenue changed from $0.00 in 2020 to $858 thousand in 2025, a change of 85,800,000.0%.

Rallybio's total liabilities were at $4.31 million at the end of 2025, a 33.3% decrease from 2024, and a 26.5% decrease since 2020.

In the past 5 years, Rallybio's cash and equivalents has ranged from $13.90 million in 2024 to $175.33 million in 2021, and is currently $31.37 million as of their latest financial filing in 2025.

Over the last 5 years, Rallybio's book value per share changed from 7.82 in 2020 to 1.37 in 2025, a change of -82.5%.

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Financial statements for NASDAQ:RLYB last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Rallybio (RLYB) Financials

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Rallybio Financials - Frequently Asked Questions

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Rallybio (RLYB) Financials

Annual Income Statements for Rallybio

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Rallybio Financials - Frequently Asked Questions

When does Rallybio's fiscal year end?

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What is Rallybio's operating income?

How has Rallybio's revenue changed over the last 5 years?

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How has Rallybio's book value per share changed over the last 5 years?

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