Avidity Biosciences (RNA) Financials

$13.03 +0.16 (+1.24%)

As of 02:28 PM Eastern

Annual Income Statements for Avidity Biosciences

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

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	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	-11	-25	-44	-118	-174	-212	-322	-685
Consolidated Net Income / (Loss)	-11	-25	-44	-118	-174	-212	-322	-685
Net Income / (Loss) Continuing Operations	-11	-25	-44	-118	-174	-212	-322	-685
Total Pre-Tax Income	-10	-25	-44	-118	-174	-212	-322	-685
Total Operating Income	-10	-17	-44	-118	-179	-236	-379	-746
Total Gross Profit	0.38	2.32	6.79	9.33	9.22	9.56	11	19
Total Revenue	0.38	2.32	6.79	9.33	9.22	9.56	11	19
Operating Revenue	0.38	2.32	6.79	9.33	9.22	9.56	11	19
Total Cost of Revenue	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	11	20	51	127	188	245	390	765
Selling, General & Admin Expense	2.44	5.11	13	26	38	54	86	206
Research & Development Expense	8.44	15	38	101	150	191	304	559
Total Other Income / (Expense), net	0.00	-7.40	-0.08	0.04	4.92	23	57	61
Interest & Investment Income	0.00	0.00	0.21	0.10	4.98	24	57	63
Other Income / (Expense), net	0.00	-0.02	-0.08	-0.06	-0.06	-0.59	-0.25	-1.94
Basic Earnings per Share	($4.53)	($9.12)	($2.05)	($2.85)	($3.34)	($2.91)	($2.89)	($4.97)
Weighted Average Basic Shares Outstanding	2.48M	2.71M	21.66M	41.43M	52.16M	73.01M	111.58M	137.71M
Diluted Earnings per Share	($4.53)	($9.12)	($2.05)	($2.85)	($3.34)	($2.91)	($2.89)	($4.97)
Weighted Average Diluted Shares Outstanding	2.48M	2.71M	21.66M	41.43M	52.16M	73.01M	111.58M	137.71M
Weighted Average Basic & Diluted Shares Outstanding	2.48M	2.71M	21.66M	41.43M	70.81M	79.72M	120.21M	155.15M

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

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-47	-52	-60	-69	-71	-80	-102	-116	-157	-174	-237
Consolidated Net Income / (Loss)	-47	-52	-60	-69	-71	-80	-102	-116	-157	-174	-237
Net Income / (Loss) Continuing Operations	-47	-52	-60	-69	-71	-80	-102	-116	-157	-174	-237
Total Pre-Tax Income	-47	-52	-60	-69	-71	-80	-102	-116	-157	-174	-237
Total Operating Income	-53	-59	-67	-77	-83	-98	-121	-132	-171	-189	-254
Total Gross Profit	2.32	2.82	2.19	3.54	2.05	2.34	2.97	1.57	3.85	12	0.86
Total Revenue	2.32	2.82	2.19	3.54	2.05	2.34	2.97	1.57	3.85	12	0.86
Operating Revenue	2.32	2.82	2.19	3.54	2.05	2.34	2.97	1.57	3.85	12	0.86
Total Operating Expenses	55	61	69	81	85	100	124	133	175	201	255
Selling, General & Admin Expense	12	14	16	14	21	23	28	34	37	46	89
Research & Development Expense	43	48	53	67	64	77	96	99	138	155	167
Total Other Income / (Expense), net	5.61	6.27	6.30	8.33	12	18	19	16	14	14	17
Interest & Investment Income	5.77	6.28	6.41	8.43	12	18	19	16	14	15	18
Other Income / (Expense), net	-0.16	-0.01	-0.11	-0.10	-0.12	-0.23	0.20	-0.44	-0.65	-0.38	-0.48
Basic Earnings per Share	($0.66)	($0.71)	($0.80)	($0.79)	($0.65)	($0.65)	($0.80)	($0.90)	($1.21)	($1.27)	($1.59)
Weighted Average Basic Shares Outstanding	71.39M	74.10M	73.01M	87.21M	106.93M	123.38M	111.58M	129.23M	129.62M	137.90M	137.71M
Diluted Earnings per Share	($0.66)	($0.71)	($0.80)	($0.79)	($0.65)	($0.65)	($0.80)	($0.90)	($1.21)	($1.27)	($1.59)
Weighted Average Diluted Shares Outstanding	71.39M	74.10M	73.01M	87.21M	106.93M	123.38M	111.58M	129.23M	129.62M	137.90M	137.71M
Weighted Average Basic & Diluted Shares Outstanding	74.10M	74.10M	79.72M	95.64M	109.80M	119.31M	120.21M	120.54M	128.65M	150.68M	155.15M

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

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-4.56	91	227	-1.01	20	-155	37	163
Net Cash From Operating Activities	-9.66	2.49	-37	-95	-136	-119	-301	-650
Net Cash From Continuing Operating Activities	-9.66	2.49	-37	-95	-136	-119	-301	-650
Net Income / (Loss) Continuing Operations	-11	-25	-44	-118	-174	-212	-322	-685
Consolidated Net Income / (Loss)	-11	-25	-44	-118	-174	-212	-322	-685
Depreciation Expense	0.38	0.35	0.37	0.64	1.39	2.10	2.78	4.15
Amortization Expense	0.07	0.07	0.01	0.18	-0.62	-11	-21	-13
Non-Cash Adjustments To Reconcile Net Income	0.43	7.45	4.60	18	30	41	55	102
Changes in Operating Assets and Liabilities, net	0.65	19	2.26	4.63	7.07	61	-15	-60
Net Cash From Investing Activities	-0.05	-0.24	-7.79	-83	-190	-130	-854	-38
Net Cash From Continuing Investing Activities	-0.05	-0.24	-7.79	-83	-190	-130	-854	-38
Purchase of Property, Plant & Equipment	-0.05	-0.24	-1.09	-3.74	-2.82	-4.23	-7.07	-13
Purchase of Investments	0.00	0.00	-6.69	-85	-356	-461	-1,434	-1,107
Sale and/or Maturity of Investments	-	0.00	0.00	6.58	169	335	586	1,086
Other Investing Activities, net	-	-	-	-	-	0.00	0.00	-4.07
Net Cash From Financing Activities	5.14	89	272	176	346	94	1,192	851
Net Cash From Continuing Financing Activities	5.14	89	272	176	346	94	1,192	851
Issuance of Common Equity	0.00	0.00	275	176	346	94	1,192	863
Other Financing Activities, net	0.16	0.07	-	-	-	0.00	0.00	-12
Effect of Exchange Rate Changes	-	-	-	-	-	0.00	0.00	0.14

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

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Change in Cash & Equivalents	35	-68	99	286	107	-206	-150	34	-10	106	32
Net Cash From Operating Activities	-50	-37	17	-70	-65	-66	-100	-125	-200	-156	-170
Net Cash From Continuing Operating Activities	-50	-37	17	-70	-65	-66	-100	-125	-200	-156	-170
Net Income / (Loss) Continuing Operations	-47	-52	-60	-69	-71	-80	-102	-116	-157	-174	-237
Consolidated Net Income / (Loss)	-47	-52	-60	-69	-71	-80	-102	-116	-157	-174	-237
Depreciation Expense	0.53	0.57	0.62	0.64	0.69	0.71	0.74	0.79	0.81	1.06	1.50
Amortization Expense	-2.84	-2.97	-3.24	-2.96	-4.48	-6.85	-7.17	-5.16	-3.48	-2.41	-1.49
Non-Cash Adjustments To Reconcile Net Income	10	11	11	11	14	15	15	19	18	20	45
Changes in Operating Assets and Liabilities, net	-11	7.41	69	-10	-4.06	6.01	-6.16	-23	-58	-0.52	22
Net Cash From Investing Activities	46	-31	51	-33	-275	-482	-64	157	185	-588	207
Net Cash From Continuing Investing Activities	46	-31	51	-33	-275	-482	-64	157	185	-588	207
Purchase of Property, Plant & Equipment	-0.62	-0.92	-0.86	-0.92	-0.53	-1.70	-3.92	-3.75	-3.34	-0.71	-5.51
Purchase of Investments	-24	-132	-54	-142	-373	-622	-297	-169	-74	-854	-10.00
Sale and/or Maturity of Investments	71	101	106	110	98	142	237	330	263	270	224
Other Investing Activities, net	-	-	-	-	-	-	-	-	-	-	-0.89
Net Cash From Financing Activities	39	0.04	32	389	447	342	14	1.94	3.77	850	-5.09
Net Cash From Continuing Financing Activities	39	0.04	32	389	447	342	14	1.94	3.77	850	-5.09
Issuance of Common Equity	39	0.04	32	389	447	342	14	1.94	3.77	850	7.32
Effect of Exchange Rate Changes	-	-	-	0.00	-	-	-	0.04	0.12	-0.02	-0.00

This table presents Avidity Biosciences' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	97	334	428	639	629	1,564	1,958
Total Current Assets	96	332	411	623	611	1,542	1,798
Cash & Equivalents	95	321	320	340	185	220	383
Short-Term Investments	0.00	6.68	85	270	410	1,282	1,314
Prepaid Expenses	1.10	3.54	5.60	12	16	41	102
Plant, Property, & Equipment, net	0.63	1.47	4.81	6.25	8.38	13	23
Total Noncurrent Assets	0.60	0.30	12	9.60	8.87	8.94	136
Other Noncurrent Operating Assets	0.60	0.30	12	9.60	8.87	8.94	136
Total Liabilities & Shareholders' Equity	97	334	428	639	629	1,564	1,958
Total Liabilities	28	28	46	61	128	139	269
Total Current Liabilities	10	15	30	52	81	98	195
Accounts Payable	2.31	7.75	14	33	34	8.46	12
Accrued Expenses	-	-	-	-	-	65	157
Current Deferred Revenue	3.84	3.69	4.86	5.04	28	21	22
Other Current Liabilities	-	-	1.77	3.11	3.64	3.84	3.94
Total Noncurrent Liabilities	17	13	16	8.82	47	41	74
Noncurrent Deferred Revenue	15	12	6.53	1.24	41	38	29
Other Noncurrent Operating Liabilities	0.44	0.94	9.96	7.58	6.21	2.96	45
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-65	306	381	578	501	1,425	1,689
Total Preferred & Common Equity	-65	306	381	578	501	1,425	1,689
Total Common Equity	-65	306	381	578	501	1,425	1,689
Common Stock	-43	373	566	939	1,071	2,315	3,264
Retained Earnings	-22	-67	-185	-359	-571	-893	-1,578
Accumulated Other Comprehensive Income / (Loss)	0.00	-0.01	-0.19	-2.70	0.13	2.90	2.56

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

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025
Total Assets	431	614	611	573	951	1,347	1,641	1,459	1,369	2,134
Total Current Assets	414	597	595	555	934	1,329	1,622	1,435	1,251	1,966
Cash & Equivalents	144	119	154	86	471	576	370	254	244	350
Short-Term Investments	262	468	423	457	444	723	1,218	1,126	939	1,526
Prepaid Expenses	8.92	11	18	13	19	30	33	55	67	90
Plant, Property, & Equipment, net	6.04	7.85	7.78	8.13	8.66	8.50	9.49	16	21	22
Total Noncurrent Assets	9.79	8.98	8.47	9.55	8.35	10	9.41	8.46	98	147
Other Noncurrent Operating Assets	9.79	8.98	8.47	9.55	8.35	10	9.41	8.46	98	147
Total Liabilities & Shareholders' Equity	431	614	611	573	951	1,347	1,641	1,459	1,369	2,134
Total Liabilities	54	55	52	56	121	126	137	130	176	248
Total Current Liabilities	43	48	45	49	75	84	91	85	135	170
Accounts Payable	26	34	32	32	37	41	50	54	3.91	9.63
Accrued Expenses	-	-	-	-	-	-	-	-	95	137
Current Deferred Revenue	5.45	5.06	3.81	1.97	26	27	20	14	14	19
Other Current Liabilities	3.09	3.13	3.15	3.60	3.73	3.77	3.80	3.88	3.93	3.97
Total Noncurrent Liabilities	11	6.98	6.36	6.98	46	42	46	45	41	78
Noncurrent Deferred Revenue	2.71	0.00	0.00	0.00	40	38	42	43	40	32
Other Noncurrent Operating Liabilities	-	6.98	6.36	-	-	4.62	3.80	-	1.21	46
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	377	559	559	517	831	1,221	1,503	1,329	1,193	1,886
Total Preferred & Common Equity	377	559	559	517	831	1,221	1,503	1,329	1,193	1,886
Total Common Equity	377	559	559	517	831	1,221	1,503	1,329	1,193	1,886
Common Stock	689	971	1,020	1,030	1,471	1,932	2,287	2,335	2,357	3,225
Retained Earnings	-308	-411	-458	-510	-640	-710	-791	-1,009	-1,166	-1,341
Accumulated Other Comprehensive Income / (Loss)	-3.46	-1.53	-2.67	-1.88	-0.46	-0.45	7.10	2.77	1.78	1.77

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

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	511.87%	192.67%	37.41%	-1.09%	3.64%	13.99%	72.11%
EBITDA Growth	0.00%	-68.57%	-159.75%	-166.76%	-51.92%	-37.69%	-62.15%	-90.08%
EBIT Growth	0.00%	-65.24%	-155.68%	-166.31%	-51.52%	-31.97%	-60.54%	-97.24%
NOPAT Growth	0.00%	-65.10%	-155.46%	-166.62%	-51.56%	-31.68%	-60.84%	-96.85%
Net Income Growth	0.00%	-120.52%	-79.33%	-166.06%	-47.44%	-21.97%	-51.87%	-112.42%
EPS Growth	0.00%	-101.32%	77.52%	-39.02%	-17.19%	12.87%	0.69%	-71.97%
Operating Cash Flow Growth	0.00%	125.79%	-1,590.64%	-155.44%	-43.72%	12.63%	-152.70%	-116.19%
Free Cash Flow Firm Growth	0.00%	0.00%	-443.06%	-176.16%	-44.26%	11.75%	-175.10%	-108.41%
Invested Capital Growth	0.00%	0.00%	-8.23%	-7.78%	-35.41%	-189.68%	19.08%	89.20%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	-3.02%	11.04%	-5.68%	7.71%	-10.13%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	-23.18%	-9.43%	-6.89%	-16.98%	-20.32%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	-23.25%	-8.91%	-6.11%	-16.58%	-21.86%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	-23.23%	-8.94%	-6.09%	-16.71%	-21.80%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	-23.25%	-7.36%	-4.93%	-14.91%	-24.53%
EPS Q/Q Growth	0.00%	0.00%	0.00%	-630.77%	-1.83%	3.00%	0.00%	-18.90%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-27.71%	-16.09%	-10.52%	31.87%	-63.07%	-12.04%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	-3.75%	34.80%	-76.84%	-12.60%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	-32.84%	-58.26%	-421.54%	10.18%	-179.29%
Profitability Metrics	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	-2,649.60%	-729.97%	-647.86%	-1,257.72%	-1,931.90%	-2,566.58%	-3,651.05%	-4,032.31%
Operating Margin	-2,769.92%	-747.39%	-652.38%	-1,265.83%	-1,939.65%	-2,464.41%	-3,477.43%	-3,977.30%
EBIT Margin	-2,769.92%	-748.04%	-653.48%	-1,266.49%	-1,940.26%	-2,470.63%	-3,479.71%	-3,987.66%
Profit (Net Income) Margin	-2,959.37%	-1,066.58%	-653.53%	-1,265.38%	-1,886.33%	-2,219.87%	-2,957.71%	-3,650.39%
Tax Burden Percent	106.84%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	100.00%	142.58%	100.01%	99.91%	97.22%	89.85%	85.00%	91.54%
Effective Tax Rate	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%
ROIC Less NNEP Spread (ROIC-NNEP)	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%
Return on Equity (ROE)	0.00%	-35.66%	-23.62%	-34.32%	-36.27%	-39.34%	-33.47%	-43.98%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	0.00%	-17.90%	-20.59%	-31.02%	-33.57%	-37.27%	-34.59%	-42.47%
Return on Assets (ROA)	0.00%	-25.52%	-20.59%	-30.99%	-32.63%	-33.49%	-29.40%	-38.88%
Return on Common Equity (ROCE)	0.00%	33.60%	-15.15%	-34.32%	-36.27%	-39.34%	-33.47%	-43.98%
Return on Equity Simple (ROE_SIMPLE)	0.00%	37.84%	-14.48%	-30.94%	-30.10%	-42.38%	-22.62%	0.00%
Net Operating Profit after Tax (NOPAT)	-7.35	-12	-31	-83	-125	-165	-265	-522
NOPAT Margin	-1,938.94%	-523.17%	-456.67%	-886.08%	-1,357.75%	-1,725.09%	-2,434.20%	-2,784.11%
Net Nonoperating Expense Percent (NNEP)	0.00%	-27.99%	-6.38%	-9.64%	-9.60%	-7.84%	-5.44%	-10.16%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-21.66%	-32.93%	-18.61%	-30.92%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	644.06%	220.44%	198.35%	280.88%	409.07%	566.84%	791.41%	1,095.92%
R&D to Revenue	2,225.86%	626.95%	554.03%	1,084.95%	1,630.57%	1,997.57%	2,786.02%	2,981.39%
Operating Expenses to Revenue	2,869.92%	847.39%	752.38%	1,365.83%	2,039.65%	2,564.41%	3,577.43%	4,077.30%
Earnings before Interest and Taxes (EBIT)	-10	-17	-44	-118	-179	-236	-379	-748
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-10	-17	-44	-117	-178	-245	-398	-756
Valuation Ratios	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	3.13	2.92	2.09	1.34	2.43	6.44
Price to Tangible Book Value (P/TBV)	0.00	0.00	3.13	2.92	2.09	1.34	2.43	6.44
Price to Revenue (P/Rev)	395.78	64.68	141.11	119.53	131.02	70.15	318.39	579.49
Price to Earnings (P/E)	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%
Earnings Yield	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
Enterprise Value to Revenue (EV/Rev)	0.00	83.95	92.76	76.05	64.81	7.87	180.60	489.01
Enterprise Value to EBITDA (EV/EBITDA)	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
Enterprise Value to NOPAT (EV/NOPAT)	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	78.19	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	22.80	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.07	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.03	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	0.00	-1.30	-1.11	-1.07	-1.06	-1.12	-1.09	-1.03
Leverage Ratio	0.00	1.40	1.15	1.11	1.11	1.17	1.14	1.13
Compound Leverage Factor	0.00	1.99	1.15	1.11	1.08	1.06	0.97	1.04
Debt to Total Capital	0.00%	6.15%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	3.75%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	2.39%	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%
Noncontrolling Interests to Total Capital	0.00%	182.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	-88.43%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	-0.27	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	5.32	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	-0.10	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	-0.37	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	7.42	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	-0.15	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	0.00	3.44	21.21	14.07	11.32	1.67	14.50	22.80
Noncontrolling Interest Sharing Ratio	0.00%	194.22%	35.87%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-
Current Ratio	0.00	9.35	22.74	13.86	12.00	7.58	15.73	9.20
Quick Ratio	0.00	9.24	22.50	13.67	11.77	7.38	15.32	8.68
Cash Flow Metrics	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	8.54	-29	-81	-117	-103	-283	-590
Operating Cash Flow to CapEx	-19,704.08%	1,059.57%	-3,398.99%	-2,535.11%	-4,827.06%	-2,816.08%	-4,258.00%	-4,883.56%
Free Cash Flow to Firm to Interest Expense	0.00	1.16	-140.16	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.34	-177.59	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.31	-182.82	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.02	0.03	0.02	0.02	0.02	0.01	0.01
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	3.68	6.47	2.97	1.67	1.31	1.04	1.04
Accounts Payable Turnover	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
Days Inventory Outstanding (DIO)	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
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-
Invested Capital	0.00	-21	-22	-24	-33	-95	-77	-8.27
Invested Capital Turnover	0.00	-0.22	-0.32	-0.40	-0.33	-0.15	-0.13	-0.44
Increase / (Decrease) in Invested Capital	0.00	-21	-1.70	-1.74	-8.54	-62	18	68
Enterprise Value (EV)	0.00	195	630	709	598	75	1,968	9,171
Market Capitalization	150	150	958	1,115	1,209	671	3,470	10,868
Book Value per Share	$0.00	($24.09)	$8.16	$8.13	$10.61	$6.76	$11.94	$11.21
Tangible Book Value per Share	$0.00	($24.09)	$8.16	$8.13	$10.61	$6.76	$11.94	$11.21
Total Capital	0.00	74	306	381	578	501	1,425	1,689
Total Debt	0.00	4.54	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	1.77	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	0.00	-90	-328	-406	-611	-595	-1,501	-1,697
Capital Expenditures (CapEx)	0.05	0.24	1.09	3.74	2.82	4.23	7.07	13
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-6.36	-11	-24	-40	-65	-57	-94
Debt-free Net Working Capital (DFNWC)	0.00	88	317	381	571	531	1,444	1,603
Net Working Capital (NWC)	0.00	85	317	381	571	531	1,444	1,603
Net Nonoperating Expense (NNE)	3.87	13	13	35	49	47	57	162
Net Nonoperating Obligations (NNO)	0.00	-90	-329	-406	-611	-595	-1,501	-1,697
Total Depreciation and Amortization (D&A)	0.46	0.42	0.38	0.82	0.77	-9.17	-19	-8.37
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-274.43%	-162.81%	-257.99%	-430.32%	-677.03%	-525.14%	-500.39%
Debt-free Net Working Capital to Revenue	0.00%	3,803.97%	4,672.03%	4,090.53%	6,190.74%	5,550.49%	13,253.85%	8,547.17%
Net Working Capital to Revenue	0.00%	3,684.35%	4,672.03%	4,090.53%	6,190.74%	5,550.49%	13,253.85%	8,547.17%
Earnings Adjustments	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($2.05)	($2.85)	($3.34)	($2.91)	($2.89)	($4.97)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	37.58M	47.75M	52.16M	73.01M	111.58M	137.71M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($2.05)	($2.85)	($3.34)	($2.91)	($2.89)	($4.97)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	37.58M	47.75M	52.16M	73.01M	111.58M	137.71M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	($2.05)	($2.85)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	21.66M	41.43M	70.81M	79.72M	120.21M	155.15M
Normalized Net Operating Profit after Tax (NOPAT)	-7.35	-12	-31	-83	-125	-165	-265	-522
Normalized NOPAT Margin	-1,938.94%	-523.17%	-456.67%	-886.08%	-1,357.75%	-1,725.09%	-2,434.20%	-2,784.11%
Pre Tax Income Margin	-2,769.92%	-1,066.58%	-653.53%	-1,265.38%	-1,886.33%	-2,219.87%	-2,957.71%	-3,650.39%
Debt Service Ratios	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	-2.35	-212.21	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	-1.64	-148.30	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	-2.38	-217.44	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	-1.67	-153.52	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	-0.43%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	-0.43%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

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

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	6.34%	13.54%	-20.80%	58.67%	-11.70%	-17.10%	35.57%	-55.60%	88.12%	434.03%	-71.07%
EBITDA Growth	-20.01%	-36.83%	-29.46%	-33.23%	-57.02%	-71.21%	-83.12%	-71.25%	-101.61%	-82.33%	-100.40%
EBIT Growth	-14.03%	-30.48%	-25.55%	-33.46%	-56.72%	-67.75%	-80.69%	-70.73%	-107.62%	-92.33%	-111.08%
NOPAT Growth	-13.68%	-30.48%	-25.40%	-34.01%	-56.98%	-67.39%	-81.28%	-70.39%	-107.13%	-92.40%	-110.33%
Net Income Growth	-2.92%	-20.09%	-19.76%	-31.42%	-50.54%	-53.55%	-69.18%	-68.14%	-122.22%	-116.97%	-131.87%
EPS Growth	28.26%	13.41%	10.11%	-6.76%	1.52%	8.45%	0.00%	-13.92%	-86.15%	-95.38%	-98.75%
Operating Cash Flow Growth	-40.12%	-15.12%	142.11%	-43.73%	-30.51%	-78.35%	-705.24%	-77.36%	-207.16%	-138.01%	-69.99%
Free Cash Flow Firm Growth	-8.94%	-50.27%	152.98%	94.57%	108.16%	96.29%	-775.27%	-6,478.50%	-7,382.89%	-13,989.94%	-139.83%
Invested Capital Growth	-12.76%	12.10%	-189.68%	-190.50%	-350.27%	-369.86%	19.08%	38.33%	112.20%	112.24%	89.20%
Revenue Q/Q Growth	3.72%	21.68%	-22.18%	61.56%	-42.28%	14.23%	27.27%	-47.09%	144.56%	224.28%	-93.11%
EBITDA Q/Q Growth	7.77%	-10.76%	-13.81%	-14.59%	-8.70%	-20.77%	-21.74%	-7.16%	-27.97%	-9.22%	-33.81%
EBIT Q/Q Growth	8.83%	-11.07%	-14.00%	-15.62%	-7.06%	-18.88%	-22.79%	-9.24%	-30.19%	-10.12%	-34.76%
NOPAT Q/Q Growth	8.62%	-11.38%	-13.85%	-15.65%	-7.05%	-18.77%	-23.29%	-8.70%	-30.13%	-10.32%	-34.78%
Net Income Q/Q Growth	10.25%	-11.34%	-15.44%	-13.92%	-2.81%	-13.57%	-27.19%	-13.22%	-35.88%	-10.89%	-35.92%
EPS Q/Q Growth	10.81%	-7.58%	-12.68%	1.25%	17.72%	0.00%	-23.08%	-12.50%	-34.44%	-4.96%	-25.20%
Operating Cash Flow Q/Q Growth	-1.72%	26.13%	144.85%	-526.52%	7.64%	-0.94%	-52.21%	-24.99%	-59.95%	21.78%	-8.71%
Free Cash Flow Firm Q/Q Growth	-1.72%	-24.80%	134.95%	-112.24%	252.82%	-156.79%	-6,254.61%	-19.28%	-69.18%	-9.88%	-8.16%
Invested Capital Q/Q Growth	36.74%	-4.68%	-421.54%	15.89%	1.94%	-9.23%	10.18%	35.90%	119.40%	9.55%	-179.29%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	-2,379.40%	-2,166.00%	-3,167.81%	-2,246.88%	-4,231.30%	-4,473.54%	-4,279.04%	-8,666.50%	-4,534.81%	-1,527.33%	-29,644.88%
Operating Margin	-2,272.63%	-2,080.38%	-3,043.46%	-2,178.58%	-4,040.39%	-4,200.94%	-4,069.59%	-8,360.90%	-4,448.71%	-1,513.47%	-29,590.47%
EBIT Margin	-2,279.62%	-2,080.84%	-3,048.24%	-2,181.43%	-4,046.06%	-4,210.87%	-4,062.83%	-8,388.56%	-4,465.64%	-1,516.52%	-29,645.93%
Profit (Net Income) Margin	-2,030.44%	-1,857.98%	-2,756.18%	-1,943.41%	-3,461.76%	-3,441.70%	-3,439.49%	-7,360.01%	-4,089.29%	-1,398.33%	-27,569.88%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	89.07%	89.29%	90.42%	89.09%	85.56%	81.73%	84.66%	87.74%	91.57%	92.21%	93.00%
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)	-41.45%	-45.22%	-39.34%	-32.91%	-28.36%	-27.76%	-33.47%	-34.19%	-37.76%	-32.44%	-43.98%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-4,756.07%	-5,027.90%	0.00%
Operating Return on Assets (OROA)	-43.31%	-42.03%	-45.99%	-30.29%	-43.80%	-38.48%	-40.39%	-62.13%	-35.28%	-16.77%	-315.74%
Return on Assets (ROA)	-38.58%	-37.53%	-41.58%	-26.99%	-37.47%	-31.46%	-34.19%	-54.51%	-32.30%	-15.46%	-293.63%
Return on Common Equity (ROCE)	-41.45%	-45.22%	-39.34%	-32.91%	-28.36%	-27.76%	-33.47%	-34.19%	-37.76%	-32.44%	-43.98%
Return on Equity Simple (ROE_SIMPLE)	-34.60%	-39.08%	0.00%	-27.52%	-20.68%	-18.66%	0.00%	-27.79%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-37	-41	-47	-54	-58	-69	-85	-92	-120	-132	-178
NOPAT Margin	-1,590.84%	-1,456.26%	-2,130.42%	-1,525.00%	-2,828.27%	-2,940.66%	-2,848.72%	-5,852.63%	-3,114.10%	-1,059.43%	-20,713.33%
Net Nonoperating Expense Percent (NNEP)	-2.11%	-2.43%	-2.28%	-1.98%	-1.38%	-1.10%	-1.68%	-2.07%	-3.02%	-2.44%	-3.69%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-9.33%	-	-	-	-5.94%	-6.92%	-10.04%	-7.01%	-10.55%
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	530.14%	487.19%	735.02%	392.27%	1,013.74%	996.28%	953.18%	2,136.05%	958.25%	371.41%	10,318.84%
R&D to Revenue	1,842.49%	1,693.19%	2,408.44%	1,886.31%	3,126.65%	3,304.67%	3,216.41%	6,324.86%	3,590.46%	1,242.07%	19,371.63%
Operating Expenses to Revenue	2,372.63%	2,180.38%	3,143.46%	2,278.58%	4,140.39%	4,300.94%	4,169.59%	8,460.90%	4,548.71%	1,613.47%	29,690.47%
Earnings before Interest and Taxes (EBIT)	-53	-59	-67	-77	-83	-98	-121	-132	-172	-189	-255
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-55	-61	-69	-80	-87	-105	-127	-136	-174	-191	-255
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.40	0.91	1.34	2.28	3.20	3.35	2.43	2.67	2.87	2.97	6.44
Price to Tangible Book Value (P/TBV)	1.40	0.91	1.34	2.28	3.20	3.35	2.43	2.67	2.87	2.97	6.44
Price to Revenue (P/Rev)	80.14	46.64	70.15	173.97	368.60	498.49	318.39	397.52	319.07	268.61	579.49
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	235.31	357.62	0.00
Enterprise Value to Revenue (EV/Rev)	21.31	0.00	7.87	90.21	246.03	341.46	180.60	243.18	208.79	178.72	489.01
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	0.01	0.00	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.01	0.00	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-1.04	-1.04	-1.12	-1.08	-1.05	-1.05	-1.09	-1.06	-1.03	-1.02	-1.03
Leverage Ratio	1.11	1.12	1.17	1.13	1.10	1.10	1.14	1.12	1.13	1.11	1.13
Compound Leverage Factor	0.98	1.00	1.06	1.00	0.94	0.90	0.96	0.98	1.03	1.03	1.05
Debt to Total Capital	0.00%	1.33%	0.00%	0.65%	0.00%	0.00%	0.00%	0.16%	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%	1.33%	0.00%	0.65%	0.00%	0.00%	0.00%	0.16%	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%	98.67%	100.00%	99.35%	100.00%	100.00%	100.00%	99.84%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	-0.03	0.00	-0.02	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	2.33	0.00	3.43	0.00	0.00	0.00	3.03	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	-0.03	0.00	-0.02	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	-0.04	0.00	-0.03	0.00	0.00	0.00	-0.01	0.00	0.00	0.00
Net Debt to NOPAT	0.00	3.45	0.00	5.10	0.00	0.00	0.00	4.54	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	-0.04	0.00	-0.03	0.00	0.00	0.00	-0.01	0.00	0.00	0.00
Altman Z-Score	8.89	4.59	2.55	9.30	18.72	22.28	15.04	16.18	11.03	13.41	23.64
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	13.14	11.40	7.58	12.47	15.78	17.76	15.73	16.91	9.26	11.57	9.20
Quick Ratio	12.74	11.14	7.38	12.22	15.43	17.39	15.32	16.26	8.76	11.04	8.68
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-35	-44	15	-1.86	2.85	-1.62	-103	-123	-207	-228	-246
Operating Cash Flow to CapEx	-8,007.56%	-3,986.02%	1,912.05%	-7,691.80%	-12,241.81%	-3,850.65%	-2,550.33%	-3,326.11%	-5,972.66%	-21,934.41%	-3,080.62%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.02	0.02	0.02	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01
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	1.41	1.43	1.31	1.32	1.30	1.15	1.04	0.74	0.74	1.35	1.04
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	-17	-18	-95	-80	-78	-85	-77	-49	9.52	10	-8.27
Invested Capital Turnover	-0.60	-0.52	-0.15	-0.20	-0.22	-0.20	-0.13	-0.14	-0.31	-0.56	-0.44
Increase / (Decrease) in Invested Capital	-1.96	2.50	-62	-52	-61	-67	18	30	88	96	68
Enterprise Value (EV)	209	-63	75	981	2,608	3,455	1,968	2,171	2,240	3,730	9,171
Market Capitalization	785	473	671	1,891	3,907	5,043	3,470	3,549	3,423	5,605	10,868
Book Value per Share	$7.90	$6.98	$6.76	$9.53	$12.77	$13.69	$11.94	$11.05	$9.89	$14.66	$11.21
Tangible Book Value per Share	$7.90	$6.98	$6.76	$9.53	$12.77	$13.69	$11.94	$11.05	$9.89	$14.66	$11.21
Total Capital	559	524	501	836	1,221	1,503	1,425	1,331	1,193	1,886	1,689
Total Debt	0.00	6.98	0.00	5.42	0.00	0.00	0.00	2.09	0.00	0.00	0.00
Total Long-Term Debt	0.00	6.98	0.00	5.42	0.00	0.00	0.00	2.09	0.00	0.00	0.00
Net Debt	-577	-536	-595	-910	-1,299	-1,589	-1,501	-1,378	-1,183	-1,876	-1,697
Capital Expenditures (CapEx)	0.62	0.92	0.86	0.92	0.53	1.70	3.92	3.75	3.34	0.71	5.51
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-27	-36	-65	-56	-54	-58	-57	-30	-68	-80	-94
Debt-free Net Working Capital (DFNWC)	549	507	531	860	1,245	1,531	1,444	1,350	1,115	1,796	1,603
Net Working Capital (NWC)	549	507	531	860	1,245	1,531	1,444	1,350	1,115	1,796	1,603
Net Nonoperating Expense (NNE)	10	11	14	15	13	12	18	24	38	42	59
Net Nonoperating Obligations (NNO)	-577	-536	-595	-910	-1,299	-1,589	-1,501	-1,378	-1,183	-1,876	-1,697
Total Depreciation and Amortization (D&A)	-2.31	-2.40	-2.62	-2.32	-3.79	-6.14	-6.43	-4.37	-2.66	-1.35	0.01
Debt-free, Cash-free Net Working Capital to Revenue	-277.68%	-353.31%	-677.03%	-518.44%	-513.79%	-573.89%	-525.14%	-333.45%	-630.49%	-381.91%	-500.39%
Debt-free Net Working Capital to Revenue	5,605.00%	4,999.71%	5,550.49%	7,907.26%	11,742.51%	15,128.33%	13,253.85%	15,123.89%	10,397.05%	8,607.14%	8,547.17%
Net Working Capital to Revenue	5,605.00%	4,999.71%	5,550.49%	7,907.26%	11,742.51%	15,128.33%	13,253.85%	15,123.89%	10,397.05%	8,607.14%	8,547.17%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.66)	($0.71)	($0.80)	($0.79)	($0.65)	($0.65)	($0.80)	($0.90)	($1.21)	($1.27)	($1.59)
Adjusted Weighted Average Basic Shares Outstanding	71.39M	74.10M	73.01M	87.21M	106.93M	123.38M	111.58M	129.23M	129.62M	137.90M	137.71M
Adjusted Diluted Earnings per Share	($0.66)	($0.71)	($0.80)	($0.79)	($0.65)	($0.65)	($0.80)	($0.90)	($1.21)	($1.27)	($1.59)
Adjusted Weighted Average Diluted Shares Outstanding	71.39M	74.10M	73.01M	87.21M	106.93M	123.38M	111.58M	129.23M	129.62M	137.90M	137.71M
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	74.10M	74.10M	79.72M	95.64M	109.80M	119.31M	120.21M	120.54M	128.65M	150.68M	155.15M
Normalized Net Operating Profit after Tax (NOPAT)	-37	-41	-47	-54	-58	-69	-85	-92	-120	-132	-178
Normalized NOPAT Margin	-1,590.84%	-1,456.26%	-2,130.42%	-1,525.00%	-2,828.27%	-2,940.66%	-2,848.72%	-5,852.63%	-3,114.10%	-1,059.43%	-20,713.33%
Pre Tax Income Margin	-2,030.44%	-1,857.98%	-2,756.18%	-1,943.41%	-3,461.76%	-3,441.70%	-3,439.49%	-7,360.01%	-4,089.29%	-1,398.33%	-27,569.88%
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

Key takeaways from Avidity Biosciences (RNA) across the last four years are shaped by liquidity actions, topline movement, and ongoing profitability dynamics. Below are the ten most impactful observations, organized from positives to neutrals to negatives.

Liquidity has improved in 2025, with cash and cash equivalents rising to approximately $382.5 million by year-end (up from about $350.2 million in Q3 2025).
A large equity financing in 2025 Q3 provided a substantial cash influx (around $850.4 million from issuance of common equity), bolstering the balance sheet and runway.
Revenue showed a notable near-term uptick in 2025 Q3, rising to about $12.48 million, suggesting topline momentum before the Q4 outturn.
The company’s balance sheet remains solidively equity-heavy, with total equity around $1.89 billion as of 2025 Q3, supporting the asset base and liquidity.
Investing activities generated meaningful cash inflows from the sale/maturity of investments in 2025, notably about $269.6 million in Q3 2025 and $223.6 million in Q4 2025, aiding liquidity.
Revenue has been volatile across quarters, with a spike in Q3 2025 followed by a drop in Q4 2025, making near-term revenue visibility uncertain.
Research and development spend remains the main cost driver, with 2025 Q4 R&D at roughly $166.6 million (Q3 2025: $154.9 million), consistent with a biotech growth burn.
One-time or timing effects appear in operating costs, such as Q4 2025 SG&A totaling about $88.7 million, which may reflect year-end accruals or non-recurring charges.
Net income has been negative across the period, including 2025 Q4 net income of about $-237.1 million (and Q3 2025 around $-174.4 million), highlighting ongoing quarterly losses.
Operating cash flow remains negative through 2025 (Q4 2025 net cash from continuing operating activities about $-169.8 million; Q3 2025 about $-156.2 million), indicating persistent cash burn absent sustained positive operating cash flow.

05/05/26 02:49 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Avidity Biosciences' Financials

When does Avidity Biosciences' fiscal year end?

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

How has Avidity Biosciences' net income changed over the last 7 years?

Avidity Biosciences' net income appears to be on an upward trend, with a most recent value of -$684.63 million in 2025, rising from -$11.22 million in 2018. The previous period was -$322.30 million in 2024. See Avidity Biosciences' forecast for analyst expectations on whatâ€™s next for the company.

What is Avidity Biosciences' operating income?

Avidity Biosciences' total operating income in 2025 was -$745.94 million, based on the following breakdown:

Total Gross Profit: $18.76 million
Total Operating Expenses: $764.70 million

How has Avidity Biosciences' revenue changed over the last 7 years?

Over the last 7 years, Avidity Biosciences' total revenue changed from $379 thousand in 2018 to $18.76 million in 2025, a change of 4,848.5%.

How much debt does Avidity Biosciences have?

Avidity Biosciences' total liabilities were at $269.45 million at the end of 2025, a 93.9% increase from 2024, and a 878.3% increase since 2019.

How much cash does Avidity Biosciences have?

In the past 6 years, Avidity Biosciences' cash and equivalents has ranged from $94.58 million in 2019 to $382.52 million in 2025, and is currently $382.52 million as of their latest financial filing in 2025.

How has Avidity Biosciences' book value per share changed over the last 7 years?

Over the last 7 years, Avidity Biosciences' book value per share changed from 0.00 in 2018 to 11.21 in 2025, a change of 1,120.7%.

Related Companies

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

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Avidity Biosciences (RNA) Financials

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Avidity Biosciences (RNA) Financials

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Quarterly Cash Flow Statements for Avidity Biosciences

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Quarterly Metrics And Ratios for Avidity Biosciences

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