Cartesian Therapeutics (RNAC) Financials

$8.77 -0.39 (-4.26%)

Closing price 05/27/2025 04:00 PM Eastern

Extended Trading

$8.85 +0.08 (+0.91%)

As of 05/27/2025 05:51 PM Eastern

Annual Income Statements for Cartesian Therapeutics

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

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Income / (Loss) Attributable to Common Shareholders	-77	-220	35
Consolidated Net Income / (Loss)	-77	-220	35
Net Income / (Loss) Continuing Operations	-77	-220	36
Total Pre-Tax Income	-77	-239	35
Total Operating Income	-44	-86	15
Total Gross Profit	39	26	111
Total Revenue	39	26	111
Operating Revenue	39	26	111
Total Cost of Revenue	0.00	0.00	0.00
Total Operating Expenses	83	112	96
Selling, General & Admin Expense	30	40	24
Research & Development Expense	45	71	72
Impairment Charge	7.58	0.71	-
Total Other Income / (Expense), net	-33	-152	20
Interest Expense	0.00	2.83	3.03
Interest & Investment Income	7.39	4.96	2.07
Other Income / (Expense), net	-41	-154	21
Income Tax Expense	0.29	-19	-0.61
Basic Earnings per Share	($4.48)	($49.76)	$0.24
Weighted Average Basic Shares Outstanding	17.28M	5.17M	144.76M
Diluted Earnings per Share	($4.49)	($49.76)	$0.10
Weighted Average Diluted Shares Outstanding	17.36M	5.17M	145.87M
Weighted Average Basic & Diluted Shares Outstanding	25.91M	161.95M	153.32M

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

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	-6.05	-24	9.63	-57	-178	-9.00	-11	-22	5.89	-7.89
Consolidated Net Income / (Loss)	-10	-24	14	-57	-178	-9.00	-11	-22	5.89	-7.89
Net Income / (Loss) Continuing Operations	-12	-24	15	-57	-172	-13	-18	-18	1.58	-7.89
Total Pre-Tax Income	-10	-24	15	-57	-190	-13	-18	-18	1.11	-8.21
Total Operating Income	-27	-18	14	-13	-36	-13	-19	-18	-8.50	-1.60
Total Gross Profit	-0.76	0.39	33	5.84	8.27	6.55	5.25	5.94	17	21
Total Revenue	-0.76	0.39	33	5.84	8.27	6.55	5.25	5.94	17	21
Operating Revenue	-0.76	0.39	33	5.84	8.27	6.55	5.25	5.94	17	21
Total Operating Expenses	26	18	20	19	45	20	24	24	25	22
Selling, General & Admin Expense	7.09	6.56	7.03	9.45	22	6.61	6.11	5.70	6.32	5.77
Research & Development Expense	11	11	13	9.74	22	13	18	19	19	17
Total Other Income / (Expense), net	16	-6.86	1.20	-44	-154	0.02	0.67	0.54	9.28	-6.62
Interest & Investment Income	2.45	2.57	1.20	1.16	0.94	1.30	1.39	1.33	1.14	0.71
Basic Earnings per Share	($0.35)	($1.13)	$0.58	($10.50)	($34.36)	($1.74)	($2.23)	($4.24)	$0.04	($0.05)
Weighted Average Basic Shares Outstanding	17.28M	21.47M	16.72M	5.41M	5.17M	5.16M	5.11M	5.11M	144.76M	152.85M
Diluted Earnings per Share	($0.35)	($1.13)	$0.54	($10.50)	($34.36)	($1.74)	($2.23)	($4.24)	$0.04	($0.05)
Weighted Average Diluted Shares Outstanding	17.36M	21.47M	17.79M	5.41M	5.17M	5.16M	5.11M	5.11M	145.87M	152.85M
Basic & Diluted Earnings per Share	($0.35)	-	-	-	($34.36)	-	-	-	$0.04	-
Weighted Average Basic & Diluted Shares Outstanding	25.91M	25.41M	21.38M	17.80M	161.95M	155.20M	153.43M	153.43M	153.32M	153.03M

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

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Change in Cash & Equivalents	136	-30	-7.40
Net Cash From Operating Activities	-24	-51	-32
Net Cash From Continuing Operating Activities	-24	-51	-32
Net Income / (Loss) Continuing Operations	-77	-220	35
Consolidated Net Income / (Loss)	-77	-220	35
Depreciation Expense	1.15	0.84	1.29
Amortization Expense	0.00	-0.08	-0.38
Non-Cash Adjustments To Reconcile Net Income	61	182	-11
Changes in Operating Assets and Liabilities, net	-8.49	-14	-57
Net Cash From Investing Activities	-8.74	35	-15
Net Cash From Continuing Investing Activities	-8.74	35	-15
Purchase of Property, Plant & Equipment	-9.09	-0.21	-1.20
Acquisitions	0.00	6.56	0.00
Sale of Property, Plant & Equipment	0.35	0.00	-
Sale and/or Maturity of Investments	0.00	28	20
Net Cash From Financing Activities	168	-13	39
Net Cash From Continuing Financing Activities	168	-13	39
Repayment of Debt	0.00	-27	-0.11
Repurchase of Common Equity	-0.07	0.00	-
Issuance of Preferred Equity	40	20	0.00
Issuance of Common Equity	124	0.23	39
Other Financing Activities, net	4.06	-6.17	0.16
Effect of Exchange Rate Changes	-0.02	-0.05	0.02
Cash Interest Paid	0.00	1.85	2.25

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

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-6.59	132	-16	27	-2.69	-34	-13	19	-6.41	-25
Net Cash From Operating Activities	-7.00	14	-14	-16	-23	-9.22	-9.90	-8.77	-12	4.35
Net Cash From Continuing Operating Activities	-7.00	14	-14	-16	-23	-9.22	-9.90	-8.77	-12	4.35
Net Income / (Loss) Continuing Operations	-10	-24	14	-57	-178	-9.00	-11	-22	5.89	-7.89
Consolidated Net Income / (Loss)	-10	-24	14	-57	-178	-9.00	-11	-22	5.89	-7.89
Depreciation Expense	0.49	0.29	0.20	0.18	0.27	0.19	0.18	0.21	0.24	0.35
Non-Cash Adjustments To Reconcile Net Income	-3.39	14	2.50	48	176	-1.19	-1.21	8.49	-13	9.34
Changes in Operating Assets and Liabilities, net	6.15	23	-31	-6.98	-22	0.79	2.53	4.28	-3.88	2.35
Net Cash From Investing Activities	-0.35	-6.20	-1.59	-0.60	6.50	-	-0.01	28	5.49	-30
Net Cash From Continuing Investing Activities	-0.35	-6.20	-1.59	-0.60	6.50	-	-0.01	28	5.63	-30
Purchase of Property, Plant & Equipment	-0.71	-6.20	-1.59	-0.60	-0.06	-	-0.01	-0.13	-0.07	-0.58
Net Cash From Financing Activities	0.78	124	0.12	43	14	-25	-2.59	0.15	-	0.61
Net Cash From Continuing Financing Activities	0.78	124	0.12	43	14	-25	-2.59	0.15	-	0.61
Other Financing Activities, net	0.85	0.06	0.12	3.03	-6.17	-	-	0.00	-	0.14
Effect of Exchange Rate Changes	-0.02	-0.02	0.01	-0.01	0.02	-0.02	-0.03	-0.02	-	-

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

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Total Assets	435	305	166
Total Current Assets	217	91	148
Cash & Equivalents	213	77	106
Accounts Receivable	0.87	5.87	9.76
Prepaid Expenses	3.14	4.97	3.78
Other Current Assets	0.00	2.98	-
Plant, Property, & Equipment, net	9.91	2.11	2.79
Total Noncurrent Assets	208	212	15
Long-Term Investments	2.00	2.00	2.00
Goodwill	48	48	0.00
Intangible Assets	151	151	0.00
Other Noncurrent Operating Assets	6.05	10	12
Other Noncurrent Nonoperating Assets	1.67	1.38	1.31
Total Liabilities & Shareholders' Equity	435	305	166
Total Liabilities	442	445	72
Total Current Liabilities	23	68	25
Accounts Payable	0.29	3.15	0.32
Accrued Expenses	12	16	14
Current Deferred Revenue	0.00	2.31	0.59
Other Current Liabilities	11	47	1.61
Total Noncurrent Liabilities	419	380	47
Noncurrent Deferred Revenue	0.00	3.54	0.00
Noncurrent Deferred & Payable Income Tax Liabilities	16	16	0.00
Other Noncurrent Operating Liabilities	403	361	29
Commitments & Contingencies	0.00	0.00	0.00
Redeemable Noncontrolling Interest	0.00	297	0.00
Total Equity & Noncontrolling Interests	-6.80	-440	94
Total Preferred & Common Equity	-6.80	-440	94
Preferred Stock	0.00	0.00	0.00
Total Common Equity	-6.80	-440	94
Common Stock	690	179	493
Retained Earnings	-692	-615	-395
Accumulated Other Comprehensive Income / (Loss)	-4.62	-4.60	-4.56

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

Metric	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	455	348	325	106	140	156	178
Total Current Assets	229	125	111	90	123	138	160
Cash & Equivalents	219	87	103	80	112	126	113
Accounts Receivable	4.83	32	2.01	4.90	5.39	6.84	6.93
Prepaid Expenses	4.13	2.04	3.32	3.49	4.26	3.79	6.31
Other Current Assets	0.98	3.47	2.37	1.88	1.06	1.84	-
Plant, Property, & Equipment, net	10	6.67	2.40	2.42	2.59	2.77	2.90
Total Noncurrent Assets	216	216	212	14	14	15	16
Long-Term Investments	2.00	2.00	2.00	2.00	2.00	2.00	2.00
Goodwill	48	48	48	-	-	-	-
Intangible Assets	151	151	151	-	-	-	-
Other Noncurrent Operating Assets	14	14	9.56	10	11	11	12
Other Noncurrent Nonoperating Assets	1.67	1.67	1.38	1.38	1.38	1.31	1.60
Total Liabilities & Shareholders' Equity	455	348	325	106	140	156	178
Total Liabilities	455	449	442	46	74	81	93
Total Current Liabilities	21	26	37	20	29	27	24
Accounts Payable	0.52	2.86	2.52	0.38	0.27	1.06	0.21
Accrued Expenses	9.45	11	9.52	14	13	9.35	12
Current Deferred Revenue	0.00	0.00	0.41	4.14	4.23	4.23	3.82
Other Current Liabilities	11	12	24	1.79	1.73	1.67	1.55
Total Noncurrent Liabilities	433	423	405	26	45	55	70
Noncurrent Deferred Revenue	0.00	0.00	0.00	3.98	4.86	5.52	5.44
Noncurrent Deferred & Payable Income Tax Liabilities	16	16	16	-	-	-	-
Other Noncurrent Operating Liabilities	417	407	390	22	26	33	44
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	0.00	0.00	0.00	-	-	-	-
Total Equity & Noncontrolling Interests	0.75	-101	-117	60	65	75	85
Total Preferred & Common Equity	0.75	-101	-117	60	65	75	85
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	0.75	-101	-117	60	65	75	85
Common Stock	687	561	559	502	498	496	490
Retained Earnings	-682	-658	-671	-437	-428	-417	-401
Accumulated Other Comprehensive Income / (Loss)	-4.61	-4.59	-4.61	-4.62	-4.60	-4.57	-4.53

This table displays calculated financial ratios and metrics derived from Cartesian Therapeutics' official financial filings.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Growth Metrics	-	-	-
Revenue Growth	49.64%	-76.53%	30.21%
EBITDA Growth	65.27%	-761.19%	905.46%
EBIT Growth	64.91%	-780.38%	610.35%
NOPAT Growth	49.20%	-508.93%	559.70%
Net Income Growth	64.76%	-721.02%	237.73%
EPS Growth	90.98%	-721.02%	145.45%
Operating Cash Flow Growth	53.73%	-61.74%	47.62%
Free Cash Flow Firm Growth	-121.52%	386.81%	4.80%
Invested Capital Growth	0.24%	-1,154.68%	78.60%
Revenue Q/Q Growth	-18.83%	-24.70%	-10.61%
EBITDA Q/Q Growth	-58.62%	-379.77%	-0.21%
EBIT Q/Q Growth	-57.99%	-385.61%	-1.92%
NOPAT Q/Q Growth	17.95%	-47.52%	-45.44%
Net Income Q/Q Growth	68.38%	-507.62%	-15.21%
EPS Q/Q Growth	61.29%	-507.62%	-62.96%
Operating Cash Flow Q/Q Growth	40.75%	-28.79%	38.27%
Free Cash Flow Firm Q/Q Growth	-119.30%	353.17%	26.78%
Invested Capital Q/Q Growth	-0.43%	-887.25%	54.35%
Profitability Metrics	-	-	-
Gross Margin	100.00%	100.00%	100.00%
EBITDA Margin	-214.25%	-923.23%	32.78%
Operating Margin	-112.81%	-332.32%	13.12%
EBIT Margin	-217.21%	-926.17%	31.95%
Profit (Net Income) Margin	-198.97%	-844.91%	31.94%
Tax Burden Percent	100.37%	92.04%	101.75%
Interest Burden Percent	91.26%	99.12%	98.23%
Effective Tax Rate	0.00%	0.00%	-1.75%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%
Return on Equity (ROE)	103.14%	887.63%	60.82%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	-22.84%	-102.28%	21.73%
Return on Assets (ROA)	-20.92%	-93.31%	21.72%
Return on Common Equity (ROCE)	307.07%	6,210.18%	60.82%
Return on Equity Simple (ROE_SIMPLE)	1,138.25%	49.91%	37.71%
Net Operating Profit after Tax (NOPAT)	-31	-60	15
NOPAT Margin	-78.97%	-232.62%	13.35%
Net Nonoperating Expense Percent (NNEP)	-31.49%	-165.91%	18.93%
Return On Investment Capital (ROIC_SIMPLE)	451.75%	13.74%	-
Cost of Revenue to Revenue	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	77.42%	155.55%	21.54%
R&D to Revenue	115.91%	274.03%	65.34%
Operating Expenses to Revenue	212.81%	432.32%	86.88%
Earnings before Interest and Taxes (EBIT)	-85	-241	35
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-83	-240	36
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	0.00	0.00	1.84
Price to Tangible Book Value (P/TBV)	0.00	0.00	1.84
Price to Revenue (P/Rev)	11.70	4.11	1.56
Price to Earnings (P/E)	0.00	0.00	4.89
Dividend Yield	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	20.46%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	6.18	12.50	0.57
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	1.72
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	1.77
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	4.23
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	2.24	0.00
Leverage & Solvency	-	-	-
Debt to Equity	0.00	0.00	0.28
Long-Term Debt to Equity	0.00	0.00	0.19
Financial Leverage	1.98	3.88	-1.87
Leverage Ratio	-4.93	-9.51	2.80
Compound Leverage Factor	-4.50	-9.43	2.75
Debt to Total Capital	0.00%	0.00%	21.87%
Short-Term Debt to Total Capital	0.00%	0.00%	7.06%
Long-Term Debt to Total Capital	0.00%	0.00%	14.81%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	-207.11%	0.00%
Common Equity to Total Capital	100.00%	307.11%	78.13%
Debt to EBITDA	0.00	0.00	0.72
Net Debt to EBITDA	0.00	0.00	-3.04
Long-Term Debt to EBITDA	0.00	0.00	0.49
Debt to NOPAT	0.00	0.00	1.78
Net Debt to NOPAT	0.00	0.00	-7.46
Long-Term Debt to NOPAT	0.00	0.00	1.20
Altman Z-Score	-1.63	-5.11	0.37
Noncontrolling Interest Sharing Ratio	-197.72%	-599.64%	0.00%
Liquidity Ratios	-	-	-
Current Ratio	9.43	1.33	5.91
Quick Ratio	9.29	1.21	5.76
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	-31	145	-51
Operating Cash Flow to CapEx	-270.81%	-24,835.44%	-2,633.72%
Free Cash Flow to Firm to Interest Expense	0.00	51.29	-16.72
Operating Cash Flow to Interest Expense	0.00	-18.06	-10.44
Operating Cash Flow Less CapEx to Interest Expense	0.00	-18.13	-10.83
Efficiency Ratios	-	-	-
Asset Turnover	0.11	0.11	0.68
Accounts Receivable Turnover	11.54	3.33	11.26
Inventory Turnover	0.00	0.00	0.00
Fixed Asset Turnover	6.47	10.60	44.89
Accounts Payable Turnover	0.00	0.00	0.00
Days Sales Outstanding (DSO)	31.62	109.68	32.41
Days Inventory Outstanding (DIO)	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	31.62	109.68	32.41
Capital & Investment Metrics	-	-	-
Invested Capital	-223	-224	-18
Invested Capital Turnover	-0.17	-0.22	-2.19
Increase / (Decrease) in Invested Capital	0.54	-206	65
Enterprise Value (EV)	241	325	63
Market Capitalization	455	107	173
Book Value per Share	($0.27)	($2.84)	$0.61
Tangible Book Value per Share	($8.09)	($4.12)	$0.61
Total Capital	-6.80	-143	120
Total Debt	0.00	0.00	26
Total Long-Term Debt	0.00	0.00	18
Net Debt	-215	-79	-110
Capital Expenditures (CapEx)	8.74	0.21	1.20
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-19	-54	-3.07
Debt-free Net Working Capital (DFNWC)	194	23	132
Net Working Capital (NWC)	194	23	123
Net Nonoperating Expense (NNE)	47	159	-21
Net Nonoperating Obligations (NNO)	-216	-80	-112
Total Depreciation and Amortization (D&A)	1.15	0.76	0.91
Debt-free, Cash-free Net Working Capital to Revenue	-48.72%	-209.16%	-2.77%
Debt-free Net Working Capital to Revenue	497.65%	86.60%	118.74%
Net Working Capital to Revenue	497.65%	86.60%	111.09%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	($4.48)	($49.80)	$7.20
Adjusted Weighted Average Basic Shares Outstanding	17.28M	5.17M	4.83M
Adjusted Diluted Earnings per Share	($4.49)	($49.80)	$3.00
Adjusted Weighted Average Diluted Shares Outstanding	17.36M	5.17M	4.86M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	25.91M	5.40M	5.11M
Normalized Net Operating Profit after Tax (NOPAT)	-25	-60	10
Normalized NOPAT Margin	-65.33%	-230.71%	9.19%
Pre Tax Income Margin	-198.23%	-917.97%	31.39%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	0.00	-85.01	11.68
NOPAT to Interest Expense	0.00	-21.35	4.88
EBIT Less CapEx to Interest Expense	0.00	-85.09	11.28
NOPAT Less CapEx to Interest Expense	0.00	-21.43	4.48
Payout Ratios	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%
Augmented Payout Ratio	-0.09%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Cartesian Therapeutics' official financial filings.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-109.18%	-94.09%	537.17%	-1.65%	-50.78%	-68.37%	-86.63%	-82.53%	-43.90%	-15.22%
EBITDA Growth	86.22%	-107.47%	175.67%	-219.79%	-39,021.97%	-70.31%	-228.07%	-160.86%	-176.57%	-2,716.61%
EBIT Growth	85.99%	-106.66%	173.90%	-218.57%	-42,593.54%	-60.88%	-235.32%	-162.63%	-60.72%	-494.66%
NOPAT Growth	26.43%	-34.52%	205.45%	27.38%	-199.35%	-717.07%	-194.13%	-219.43%	-308.34%	18.79%
Net Income Growth	94.23%	-168.64%	221.51%	-162.31%	-3,114.73%	-14.05%	-232.39%	-175.28%	-51.85%	55.89%
EPS Growth	98.98%	35.06%	124.22%	-162.31%	-3,114.73%	-14.05%	-232.39%	-175.28%	-63.64%	68.75%
Operating Cash Flow Growth	69.93%	248.57%	-45.99%	-81.60%	-96.52%	-311.69%	19.36%	26.12%	62.34%	140.51%
Free Cash Flow Firm Growth	-110.67%	832.95%	1,158.46%	876.25%	343.90%	73.79%	80.38%	74.41%	-61.05%	-2,857.73%
Invested Capital Growth	0.24%	-880.60%	-641.71%	-692.58%	-1,154.68%	41.98%	13.29%	28.24%	78.60%	71.15%
Revenue Q/Q Growth	-296.12%	-98.84%	472.69%	-29.35%	26.18%	24.80%	-11.60%	-64.64%	-18.90%	-47.27%
EBITDA Q/Q Growth	1.78%	-291.50%	123.93%	70.03%	-1,379.34%	30.15%	-1.12%	-3,644.35%	93.56%	-152.52%
EBIT Q/Q Growth	1.02%	-296.31%	123.52%	69.98%	-1,360.02%	29.80%	-1.38%	-4,189.53%	105.53%	-159.05%
NOPAT Q/Q Growth	-52.10%	-189.43%	247.23%	63.26%	-178.09%	29.90%	-1.40%	-51.44%	-659.05%	-108.08%
Net Income Q/Q Growth	57.60%	-274.78%	124.35%	68.02%	-1,873.54%	20.94%	47.44%	-467.61%	174.66%	-191.77%
EPS Q/Q Growth	69.03%	-309.26%	105.14%	68.02%	-1,873.54%	20.94%	47.44%	-467.61%	180.00%	-183.33%
Operating Cash Flow Q/Q Growth	-151.14%	194.77%	9.24%	31.65%	-152.70%	6.87%	-12.89%	26.03%	-372.20%	135.47%
Free Cash Flow Firm Q/Q Growth	-110.29%	3.88%	-3.15%	3.15%	806.33%	-50.01%	28.97%	67.59%	24.09%	-12.31%
Invested Capital Q/Q Growth	-0.43%	-15.47%	13.97%	0.01%	-887.25%	12.66%	8.07%	-58.28%	54.35%	-30.53%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	0.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	0.00%	-6,904.39%	41.72%	-998.51%	-2,304.91%	-196.60%	-351.29%	-307.09%	-2.90%	-36.51%
Operating Margin	0.00%	-4,541.34%	41.13%	-228.56%	-439.54%	-199.44%	-355.08%	-309.55%	-50.59%	-7.72%
EBIT Margin	0.00%	-6,978.29%	41.13%	-1,001.64%	-2,308.20%	-199.48%	-354.64%	-309.23%	2.67%	-39.22%
Profit (Net Income) Margin	0.00%	-6,248.84%	41.37%	-973.01%	-2,149.26%	-137.41%	-216.94%	-364.82%	35.09%	-38.11%
Tax Burden Percent	99.31%	98.98%	92.54%	99.11%	93.58%	69.02%	63.36%	121.44%	529.95%	96.09%
Interest Burden Percent	38.62%	90.47%	108.69%	98.01%	99.51%	99.80%	96.55%	97.15%	247.66%	101.12%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	103.14%	-801.65%	1,275.47%	1,207.32%	887.63%	-49.79%	-45.21%	-23.11%	60.82%	126.10%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	0.00%	-1,191.86%	9.13%	-107.92%	-254.91%	-48.46%	-105.43%	-169.74%	1.82%	-28.14%
Return on Assets (ROA)	0.00%	-1,067.27%	9.19%	-104.83%	-237.35%	-33.38%	-64.49%	-200.25%	23.86%	-27.34%
Return on Common Equity (ROCE)	307.07%	-801.65%	1,275.47%	1,207.32%	6,210.18%	-49.79%	-45.21%	-23.11%	60.82%	126.10%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	226.35%	218.21%	0.00%	-59.94%	-53.55%	-20.20%	0.00%	49.14%
Net Operating Profit after Tax (NOPAT)	-19	-12	14	-9.34	-25	-9.15	-13	-13	-8.50	-1.12
NOPAT Margin	0.00%	-3,178.94%	41.13%	-159.99%	-307.67%	-139.60%	-248.55%	-216.68%	-50.59%	-5.40%
Net Nonoperating Expense Percent (NNEP)	5.70%	-7.77%	0.09%	-45.31%	-158.62%	0.14%	1.57%	-8.89%	13.23%	-5.63%
Return On Investment Capital (ROIC_SIMPLE)	275.09%	-	-	-	5.78%	-	-	-	-	-
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	0.00%	1,695.61%	21.01%	161.82%	266.59%	100.96%	116.31%	95.91%	37.65%	27.86%
R&D to Revenue	0.00%	2,945.74%	37.86%	166.75%	264.36%	198.47%	338.77%	313.64%	112.93%	79.86%
Operating Expenses to Revenue	0.00%	4,641.34%	58.87%	328.56%	539.54%	299.44%	455.08%	409.55%	150.59%	107.72%
Earnings before Interest and Taxes (EBIT)	-27	-27	14	-58	-191	-13	-19	-18	0.45	-8.12
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-26	-27	14	-58	-191	-13	-18	-18	-0.49	-7.56
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	458.36	0.00	0.00	0.00	2.70	2.63	2.86	1.84	2.95
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	2.70	2.63	2.86	1.84	2.95
Price to Revenue (P/Rev)	11.70	7.19	8.88	4.06	4.11	4.71	3.53	2.58	1.56	2.02
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	4.89	6.00
Dividend Yield	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%	20.46%	16.66%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	6.18	2.58	7.24	0.00	12.50	2.35	1.68	1.35	0.57	1.03
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.72	3.52
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.77	3.55
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	4.23	4.72
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.76	2.96	0.00	2.24	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	0.37	0.35	0.28	0.31
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.21	0.22	0.19	0.24
Financial Leverage	1.98	-5.01	5.06	4.96	3.88	-1.42	-1.36	-1.52	-1.87	-3.64
Leverage Ratio	-4.93	9.19	-13.53	-11.39	-9.51	1.96	2.11	2.31	2.80	5.22
Compound Leverage Factor	-1.90	8.31	-14.71	-11.16	-9.47	1.95	2.04	2.25	6.93	5.28
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	26.85%	26.18%	21.87%	23.51%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	11.44%	10.11%	7.06%	5.30%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	15.41%	16.06%	14.81%	18.21%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	-207.11%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	307.11%	100.00%	73.15%	73.82%	78.13%	76.49%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	-0.54	-2.23	0.72	0.72
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	2.01	8.54	-3.04	-3.36
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	-0.31	-1.37	0.49	0.56
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	-0.73	-2.58	1.78	0.96
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	2.73	9.92	-7.46	-4.51
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	-0.42	-1.59	1.20	0.75
Altman Z-Score	-1.19	-1.18	-1.38	-2.99	-4.57	-2.92	-2.19	-1.17	-0.33	-0.08
Noncontrolling Interest Sharing Ratio	-197.72%	0.00%	0.00%	0.00%	-599.64%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	9.43	10.70	4.78	3.03	1.33	4.51	4.18	5.22	5.91	6.73
Quick Ratio	9.29	10.47	4.57	2.88	1.21	4.24	4.00	5.00	5.76	6.46
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-19	187	180	186	180	-26	-17	-24	-74	-97
Operating Cash Flow to CapEx	-993.19%	220.86%	-910.27%	-2,644.02%	-36,384.38%	0.00%	-82,458.33%	-6,742.31%	-17,953.03%	749.23%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	-20.06	-22.64	-29.66	-91.64	-121.47
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	-7.24	-13.16	-10.85	-14.68	5.43
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	-7.24	-13.17	-11.01	-14.76	4.70
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.11	0.17	0.22	0.11	0.11	0.24	0.30	0.55	0.68	0.72
Accounts Receivable Turnover	11.54	9.86	2.89	5.86	3.33	5.84	3.31	11.82	11.26	17.39
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	6.47	7.58	11.68	10.03	10.60	12.97	17.95	30.33	44.89	52.61
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	31.62	37.03	126.24	62.31	109.68	62.48	110.11	30.87	32.41	20.99
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	31.62	37.03	126.24	62.31	109.68	62.48	110.11	30.87	32.41	20.99
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	-223	-222	-192	-224	-224	-23	-26	-28	-18	-39
Invested Capital Turnover	-0.17	-0.39	-0.50	-0.21	-0.22	-1.12	-1.74	-2.45	-2.19	-1.42
Increase / (Decrease) in Invested Capital	0.54	-199	-166	-195	-206	16	3.98	11	65	96
Enterprise Value (EV)	241	123	391	-0.15	325	81	82	112	63	128
Market Capitalization	455	345	481	105	107	163	172	213	173	250
Book Value per Share	($0.27)	$0.04	($5.70)	($0.72)	($2.84)	$0.39	$0.43	$0.49	$0.61	$0.56
Tangible Book Value per Share	($8.09)	($9.26)	($16.87)	($1.95)	($4.12)	$0.39	$0.43	$0.49	$0.61	$0.56
Total Capital	-6.80	0.75	-101	-117	-143	60	89	101	120	111
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	24	26	26	26
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	14	16	18	20
Net Debt	-215	-221	-89	-105	-79	-82	-90	-101	-110	-122
Capital Expenditures (CapEx)	0.71	6.20	1.59	0.60	0.06	0.00	0.01	0.13	0.07	0.58
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-19	-11	11	-29	-54	-9.67	-8.43	-3.85	-3.07	-4.61
Debt-free Net Working Capital (DFNWC)	194	208	99	74	23	70	104	122	132	142
Net Working Capital (NWC)	194	208	99	74	23	70	93	112	123	136
Net Nonoperating Expense (NNE)	-8.46	12	-0.08	47	152	-0.14	-1.66	8.80	-14	6.77
Net Nonoperating Obligations (NNO)	-216	-223	-91	-107	-80	-83	-91	-103	-112	-124
Total Depreciation and Amortization (D&A)	0.49	0.29	0.20	0.18	0.27	0.19	0.18	0.13	-0.94	0.56
Debt-free, Cash-free Net Working Capital to Revenue	-48.72%	-23.92%	21.15%	-111.80%	-209.16%	-28.01%	-17.32%	-4.65%	-2.77%	-3.72%
Debt-free Net Working Capital to Revenue	497.65%	433.33%	182.37%	287.40%	86.60%	202.50%	212.75%	147.59%	118.74%	114.45%
Net Working Capital to Revenue	497.65%	433.33%	182.37%	287.40%	86.60%	202.50%	191.73%	135.24%	111.09%	109.71%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.35)	($1.13)	$0.58	($10.50)	($1,030.80)	($1.80)	($2.10)	($4.20)	$1.20	($1.50)
Adjusted Weighted Average Basic Shares Outstanding	17.28M	21.47M	16.72M	5.41M	172.34K	5.16M	5.11M	5.11M	4.83M	5.10M
Adjusted Diluted Earnings per Share	($0.35)	($1.13)	$0.54	($10.50)	($1,030.80)	($1.80)	($2.10)	($4.20)	$1.20	($1.50)
Adjusted Weighted Average Diluted Shares Outstanding	17.36M	21.47M	17.79M	5.41M	172.34K	5.16M	5.11M	5.11M	4.86M	5.10M
Adjusted Basic & Diluted Earnings per Share	($0.35)	$0.00	$0.00	$0.00	($1,030.80)	$0.00	$0.00	$0.00	$1.20	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	25.91M	25.41M	21.38M	17.80M	5.40M	5.17M	5.11M	5.11M	5.11M	5.10M
Normalized Net Operating Profit after Tax (NOPAT)	-19	-12	9.63	-9.34	-25	-9.15	-13	-13	-5.95	-1.12
Normalized NOPAT Margin	0.00%	-3,178.94%	28.79%	-159.99%	-307.67%	-139.60%	-248.55%	-216.68%	-35.41%	-5.40%
Pre Tax Income Margin	0.00%	-6,313.44%	44.71%	-981.71%	-2,296.83%	-199.08%	-342.41%	-300.42%	6.62%	-39.66%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	-10.27	-24.75	-22.73	0.56	-10.13
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	-7.18	-17.35	-15.92	-10.53	-1.40
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	-10.27	-24.77	-22.89	0.47	-10.85
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	-7.18	-17.37	-16.09	-10.61	-2.12
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-0.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions About Cartesian Therapeutics' Financials

When does Cartesian Therapeutics's financial year end?

According to the most recent income statement we have on file, Cartesian Therapeutics' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Cartesian Therapeutics' net income changed over the last 2 years?

Cartesian Therapeutics' net income appears to be on an upward trend, with a most recent value of -$77.42 million in 2024, falling from $35.38 million in 2022. The previous period was -$219.71 million in 2023. See Cartesian Therapeutics' forecast for analyst expectations on what’s next for the company.

What is Cartesian Therapeutics's operating income?

Cartesian Therapeutics's total operating income in 2024 was -$43.90 million, based on the following breakdown:

Total Gross Profit: $38.91 million
Total Operating Expenses: $82.81 million

How has Cartesian Therapeutics revenue changed over the last 2 years?

Over the last 2 years, Cartesian Therapeutics' total revenue changed from $110.78 million in 2022 to $38.91 million in 2024, a change of -64.9%.

How much debt does Cartesian Therapeutics have?

Cartesian Therapeutics' total liabilities were at $441.83 million at the end of 2024, a 0.6% decrease from 2023, and a 513.2% increase since 2022.

How much cash does Cartesian Therapeutics have?

In the past 2 years, Cartesian Therapeutics' cash and equivalents has ranged from $76.91 million in 2023 to $212.61 million in 2024, and is currently $212.61 million as of their latest financial filing in 2024.

How has Cartesian Therapeutics' book value per share changed over the last 2 years?

Over the last 2 years, Cartesian Therapeutics' book value per share changed from 0.61 in 2022 to -0.27 in 2024, a change of -143.6%.

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This page (NASDAQ:RNAC) was last updated on 5/28/2025 by MarketBeat.com Staff

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Cartesian Therapeutics (RNAC) Financials

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Cartesian Therapeutics (RNAC) Financials

Annual Income Statements for Cartesian Therapeutics

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Quarterly Cash Flow Statements for Cartesian Therapeutics

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Quarterly Balance Sheets for Cartesian Therapeutics

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Quarterly Metrics And Ratios for Cartesian Therapeutics

Frequently Asked Questions About Cartesian Therapeutics' Financials

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