Valion Bio, Inc. Common Stock (VBIO) Financials

$3.48 +0.75 (+27.47%)

As of 09/24/2026 04:00 PM Eastern

Annual Income Statements for Valion Bio, Inc. Common Stock

This table shows Valion Bio, Inc. Common Stock's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Costs & Expenses	-	-	-	-	7.90
Net Income / (Loss) Attributable to Common Shareholders	-8.49	-10	-8.24	-5.66	-8.88
Consolidated Net Income / (Loss)	-8.49	-10	-8.24	-5.66	-8.88
Net Income / (Loss) Continuing Operations	-8.49	-10	-8.24	-4.47	-7.99
Total Pre-Tax Income	-8.49	-10	-8.24	-4.47	-7.99
Total Operating Income	-5.63	-10	-8.25	-4.48	-7.90
Total Gross Profit	-0.04	0.30	0.29	0.00	0.00
Total Revenue	1.26	1.84	1.18	0.00	0.00
Total Cost of Revenue	1.30	1.54	0.89	0.00	0.00
Total Operating Expenses	5.60	10	8.53	4.48	7.90
Selling, General & Admin Expense	2.93	5.88	4.75	3.16	4.77
Research & Development Expense	0.88	1.73	1.66	1.31	3.13
Total Other Income / (Expense), net	-2.86	0.00	0.00	0.01	-0.10
Interest Expense	3.46	-0.00	-0.00	-	0.15
Interest & Investment Income	-	-	-	0.01	0.02
Other Income / (Expense), net	0.60	0.00	-	0.00	0.03
Net Income / (Loss) Discontinued Operations	-	-	-	-1.19	-0.89
Basic Earnings per Share	($2.43)	($104.32)	($176.80)	($19.68)	($7.84)
Weighted Average Basic Shares Outstanding	3.49M	96.78K	46.65K	287.37K	1.16M
Weighted Average Diluted Shares Outstanding	3.49M	96.78K	46.65K	620.14K	2.88M
Weighted Average Basic & Diluted Shares Outstanding	-	29.68M	1.47M	620.14K	2.88M

This table shows Valion Bio, Inc. Common Stock's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	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	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	-2.24	-1.48	-1.27	-1.43	-1.48	-1.50	-1.93	-2.60	-2.85	-6.20	-7.10
Consolidated Net Income / (Loss)	-2.24	-1.48	-1.27	-1.43	-1.48	-1.50	-1.93	-2.60	-2.85	-6.20	-7.10
Net Income / (Loss) Continuing Operations	-2.24	-1.48	-1.27	-1.43	-0.29	-1.37	-1.68	-2.60	-1.96	-6.23	-7.06
Total Pre-Tax Income	-2.24	-1.48	-1.27	-1.43	-0.29	-1.37	-1.68	-2.60	-1.96	-6.23	-7.06
Total Operating Income	-2.24	-1.48	-1.27	-1.43	-0.30	-1.38	-1.68	-2.48	-1.98	-5.63	-6.42
Total Gross Profit	0.01	0.17	0.03	0.04	-0.24	0.00	0.00	-0.15	0.04	0.00	0.00
Total Revenue	0.36	0.33	0.14	0.13	-0.60	0.00	0.00	0.15	-0.30	0.00	0.00
Total Cost of Revenue	0.35	0.17	0.11	0.08	-0.36	0.00	0.00	0.29	-0.34	0.00	0.00
Total Operating Expenses	2.25	1.65	1.30	1.48	0.06	1.38	1.68	2.34	2.02	5.63	6.42
Selling, General & Admin Expense	1.15	0.89	0.79	0.82	0.67	1.04	1.02	1.07	1.75	3.78	3.72
Research & Development Expense	0.36	0.26	0.30	0.42	0.33	0.34	0.66	0.86	1.28	1.85	2.70
Total Other Income / (Expense), net	0.00	0.00	0.00	0.00	0.01	0.00	0.00	-0.11	0.01	-0.59	-0.63
Interest Expense	-	0.00	0.00	-	-	0.00	0.00	-	-	0.65	0.69
Interest & Investment Income	-	-	-	0.00	-	0.00	0.00	0.00	-	0.02	0.01
Other Income / (Expense), net	-	-	-	-	-	0.00	0.00	-0.12	-	0.03	0.05
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	-0.13	-0.26	-	-	0.02	-0.05
Basic Earnings per Share	($48.08)	($17.15)	($5.37)	($3.93)	($5.14)	($2.52)	($2.19)	($1.97)	($2.47)	($2.23)	($2.17)
Weighted Average Basic Shares Outstanding	46.65K	86.34K	235.87K	364.18K	287.37K	569.37K	881.29K	1.32M	1.16M	2.88M	3.38M
Weighted Average Diluted Shares Outstanding	46.65K	86.34K	235.87K	8.27M	620.14K	878.34K	1.08M	1.77M	2.88M	3.20M	22.19M
Weighted Average Basic & Diluted Shares Outstanding	1.47M	6.18M	6.18M	8.27M	620.14K	878.34K	1.08M	1.77M	2.88M	3.20M	22.19M

This table details how cash moves in and out of Valion Bio, Inc. Common Stock's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	12	-9.46	-0.12	-1.39	11
Net Cash From Operating Activities	-5.61	-8.92	-8.51	-5.73	-7.00
Net Cash From Continuing Operating Activities	-5.61	-8.92	-8.51	-5.08	-6.62
Net Income / (Loss) Continuing Operations	-8.49	-10	-8.24	-4.47	-7.99
Consolidated Net Income / (Loss)	-8.49	-10	-8.24	-5.66	-8.88
Net Income / (Loss) Discontinued Operations	-	-	-	-1.19	-0.89
Depreciation Expense	0.01	0.01	0.01	0.00	0.01
Amortization Expense	1.76	0.16	0.17	0.35	0.10
Non-Cash Adjustments To Reconcile Net Income	1.95	0.22	0.14	0.23	0.82
Changes in Operating Assets and Liabilities, net	-0.84	0.78	-0.59	-1.19	0.45
Net Cash From Discontinued Operating Activities	-	-	-	-0.64	-0.38
Net Cash From Investing Activities	0.00	-0.01	-0.12	0.00	-0.71
Net Cash From Continuing Investing Activities	0.00	-0.01	-0.12	0.00	-0.71
Purchase of Property, Plant & Equipment	0.00	-0.01	-0.12	0.00	-0.04
Acquisitions	-	-	-	0.00	-0.54
Other Investing Activities, net	-	-	-	0.00	-0.12
Net Cash From Financing Activities	18	-0.53	8.51	4.33	18
Net Cash From Continuing Financing Activities	18	-0.53	8.51	4.33	18
Repayment of Debt	-0.02	0.00	-	0.00	-0.17
Issuance of Preferred Equity	-	-	-	0.00	16
Issuance of Common Equity	15	0.00	8.51	4.38	2.34
Other Financing Activities, net	0.06	-0.53	0.00	-0.05	-0.03

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

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	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	6/30/2026
Net Change in Cash & Equivalents	-1.77	-1.73	2.03	-1.50	-0.19	-1.33	0.52	2.27	9.20	-5.06	-5.11
Net Cash From Operating Activities	-1.77	-1.67	-1.29	-1.41	-1.37	-0.89	-1.83	-2.00	-2.29	-5.01	-5.28
Net Cash From Continuing Operating Activities	-1.77	-1.67	-1.29	-1.41	-0.72	-0.83	-1.59	-2.00	-1.91	-5.05	-5.27
Net Income / (Loss) Continuing Operations	-2.24	-1.48	-1.27	-1.43	-0.29	-1.37	-1.68	-2.60	-1.96	-6.23	-7.06
Consolidated Net Income / (Loss)	-2.24	-1.48	-1.27	-1.43	-1.48	-1.50	-1.93	-2.60	-2.85	-6.20	-7.10
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	-0.13	-0.26	-	-	0.02	-0.05
Depreciation Expense	0.00	0.00	0.00	0.00	-	0.00	0.00	-	0.00	0.00	0.36
Amortization Expense	0.05	0.05	0.03	-	0.27	0.00	-	-	0.10	0.62	0.74
Non-Cash Adjustments To Reconcile Net Income	-0.07	0.00	0.11	-0.02	0.14	0.10	0.18	0.58	-0.04	0.38	0.29
Changes in Operating Assets and Liabilities, net	0.49	-0.23	-0.16	0.04	-0.84	0.44	-0.10	0.02	-0.01	0.17	0.40
Net Cash From Discontinued Operating Activities	-	-	-	-	-	-0.06	-0.23	-	-	0.04	-0.01
Net Cash From Investing Activities	-	0.00	-	-	-	-0.53	-0.02	-0.01	-0.15	-0.01	-0.06
Net Cash From Continuing Investing Activities	-	0.00	-	-	-	-0.53	-0.02	-0.01	-0.15	-0.01	-0.06
Purchase of Property, Plant & Equipment	-	-	-	-	-	0.00	-0.00	-0.01	-0.03	-0.01	-0.06
Net Cash From Financing Activities	-	-0.06	3.31	-0.10	1.18	0.08	2.36	4.27	12	-0.04	0.23
Net Cash From Continuing Financing Activities	-	-0.06	3.31	-0.10	1.18	0.08	2.36	4.27	12	-0.04	0.23
Other Financing Activities, net	-	-0.06	0.06	-	-0.05	0.08	-0.13	0.16	-0.14	-0.04	-0.08

This table presents Valion Bio, Inc. Common Stock's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	15	5.88	5.16	2.81	32
Total Current Assets	14	5.31	4.65	2.64	13
Cash & Equivalents	13	3.52	3.40	2.00	13
Inventories, net	0.43	0.86	0.76	-	0.00
Prepaid Expenses	0.79	0.24	0.33	0.24	0.35
Other Current Nonoperating Assets	-	-	-	0.40	0.02
Plant, Property, & Equipment, net	0.01	0.01	0.12	0.00	13
Total Noncurrent Assets	0.74	0.56	0.38	0.17	5.96
Goodwill	-	-	-	0.00	3.46
Intangible Assets	-	-	-	0.00	2.24
Other Noncurrent Operating Assets	0.74	0.56	0.38	0.05	0.26
Total Liabilities & Shareholders' Equity	15	5.88	5.16	2.81	32
Total Liabilities	1.76	2.25	1.58	0.27	7.44
Total Current Liabilities	1.22	1.88	1.40	0.27	0.65
Accounts Payable	0.79	1.32	0.71	0.13	0.26
Accrued Expenses	0.27	0.39	0.50	0.13	0.38
Other Current Liabilities	0.16	0.16	0.19	-	0.00
Other Current Nonoperating Liabilities	-	-	-	0.02	0.01
Total Noncurrent Liabilities	0.55	0.37	0.18	0.00	6.79
Long-Term Debt	-	0.00	-	0.00	6.45
Other Noncurrent Operating Liabilities	0.55	0.37	0.18	0.00	0.34
Commitments & Contingencies	-	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	-	-	0.00	7.37
Total Equity & Noncontrolling Interests	13	3.63	3.58	2.54	17
Total Preferred & Common Equity	13	3.63	3.58	2.54	17
Preferred Stock	-	0.00	0.00	0.00	0.00
Total Common Equity	13	3.63	3.58	2.54	17
Common Stock	33	33	41	46	69
Retained Earnings	-20	-30	-38	-44	-53

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

Metric	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026	6/30/2026
Total Assets	3.29	4.78	3.39	3.78	4.51	6.23	38	32
Total Current Assets	2.83	4.66	3.16	1.26	1.84	3.74	8.65	3.38
Cash & Equivalents	1.67	3.69	2.19	0.67	1.18	3.45	7.22	2.11
Inventories, net	0.77	0.77	0.73	0.31	0.28	0.00	0.75	0.75
Prepaid Expenses	0.25	0.19	0.23	0.27	0.36	0.27	0.69	0.52
Other Current Nonoperating Assets	-	-	-	-	-	-	0.00	0.00
Plant, Property, & Equipment, net	0.12	0.12	0.12	0.12	0.12	0.01	13	12
Total Noncurrent Assets	0.34	0.00	0.11	2.40	2.55	2.48	17	17
Goodwill	-	-	-	-	-	-	3.46	3.46
Intangible Assets	-	-	-	-	-	2.24	2.24	2.24
Other Noncurrent Operating Assets	0.34	0.00	0.11	2.40	2.55	0.23	11	11
Total Liabilities & Shareholders' Equity	3.29	4.78	3.39	3.78	4.51	6.23	38	32
Total Liabilities	1.13	0.59	0.56	0.74	0.82	0.64	20	21
Total Current Liabilities	0.99	0.59	0.56	0.74	0.82	0.64	2.62	3.05
Accounts Payable	0.55	0.45	0.33	0.44	0.23	0.47	0.63	0.64
Accrued Expenses	0.27	0.15	0.23	0.30	0.59	0.17	1.49	1.83
Other Current Liabilities	0.18	0.00	0.00	0.00	0.00	-	0.49	0.53
Other Current Nonoperating Liabilities	-	-	-	-	-	-	0.00	0.04
Total Noncurrent Liabilities	0.14	0.00	0.00	0.00	0.00	0.00	17	18
Long-Term Debt	-	-	-	-	-	-	6.90	7.39
Other Noncurrent Operating Liabilities	0.14	0.00	0.00	0.00	0.00	-	10	10
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	-	-	-	-	-	7.49	7.64
Total Equity & Noncontrolling Interests	2.15	4.19	2.83	3.04	3.69	5.59	11	4.25
Total Preferred & Common Equity	2.15	4.19	2.83	3.04	3.69	5.59	11	4.25
Preferred Stock	-	-	-	0.00	0.00	0.00	0.00	0.00
Total Common Equity	2.15	4.19	2.83	3.04	3.69	5.59	11	4.25
Common Stock	42	45	45	48	51	55	70	71
Retained Earnings	-39	-41	-42	-45	-47	-50	-59	-67

This table displays calculated financial ratios and metrics derived from Valion Bio, Inc. Common Stock's official financial filings.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	0.00	9,677,734.00	146,600,734.00	8,266,085.00	1,765,952.00
DEI Adjusted Shares Outstanding	0.00	5,693.00	86,236.00	486,240.00	1,765,952.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	-1,773.41	-95.60	-11.63	-5.03
Growth Metrics	-	-	-	-	-
Revenue Growth	0.00%	46.38%	-36.09%	-100.00%	0.00%
EBITDA Growth	0.00%	-204.04%	18.75%	48.85%	-88.36%
EBIT Growth	0.00%	-100.56%	18.35%	45.71%	-75.83%
NOPAT Growth	0.00%	-79.27%	18.35%	45.71%	-76.45%
Net Income Growth	0.00%	-18.86%	18.34%	31.40%	-56.99%
EPS Growth	0.00%	-18.86%	18.34%	0.00%	0.00%
Operating Cash Flow Growth	0.00%	-58.93%	4.57%	32.73%	-22.25%
Free Cash Flow Firm Growth	0.00%	0.00%	15.12%	48.97%	-686.72%
Invested Capital Growth	0.00%	-61.95%	63.72%	-81.62%	52,744.12%
Revenue Q/Q Growth	0.00%	0.99%	-4.08%	-100.00%	-100.00%
EBITDA Q/Q Growth	0.00%	-0.71%	0.16%	34.50%	-8.93%
EBIT Q/Q Growth	0.00%	0.37%	0.13%	30.30%	-6.27%
NOPAT Q/Q Growth	0.00%	0.37%	0.13%	30.30%	-6.64%
Net Income Q/Q Growth	0.00%	12.71%	0.13%	11.93%	-18.28%
EPS Q/Q Growth	0.00%	12.71%	0.13%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	0.00%	5.64%	5.05%	6.67%	-15.17%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	7.76%	41.99%	-251.21%
Invested Capital Q/Q Growth	0.00%	120.32%	0.00%	-94.73%	739.19%
Profitability Metrics	-	-	-	-	-
Gross Margin	-3.02%	16.25%	24.40%	0.00%	0.00%
EBITDA Margin	-259.67%	-539.35%	-685.63%	0.00%	0.00%
Operating Margin	-448.13%	-548.80%	-701.11%	0.00%	0.00%
EBIT Margin	-400.56%	-548.80%	-701.11%	0.00%	0.00%
Profit (Net Income) Margin	-675.74%	-548.70%	-701.02%	0.00%	0.00%
Tax Burden Percent	100.00%	100.00%	100.00%	126.51%	111.07%
Interest Burden Percent	168.70%	99.98%	99.99%	99.87%	101.56%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-1,327.64%	-3,448.10%	-3,873.49%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	-1,292.57%	-3,411.38%	-3,801.95%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	1,263.64%	3,328.63%	3,644.81%	0.00%	0.00%
Return on Equity (ROE)	-64.00%	-119.47%	-228.68%	-184.96%	-66.50%
Cash Return on Invested Capital (CROIC)	0.00%	-3,358.34%	-3,921.81%	-2,723.47%	-260.67%
Operating Return on Assets (OROA)	-33.49%	-96.58%	-149.47%	0.00%	0.00%
Return on Assets (ROA)	-56.49%	-96.56%	-149.46%	0.00%	0.00%
Return on Common Equity (ROCE)	-64.00%	-119.47%	-228.68%	-184.96%	-48.14%
Return on Equity Simple (ROE_SIMPLE)	-64.00%	-278.13%	-230.28%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-3.94	-7.07	-5.77	-3.13	-5.53
NOPAT Margin	-313.69%	-384.16%	-490.77%	0.00%	0.00%
Net Nonoperating Expense Percent (NNEP)	-35.07%	-36.71%	-71.54%	-85.54%	-76.99%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-161.22%	-123.60%	-23.78%
Cost of Revenue to Revenue	103.02%	83.75%	75.60%	0.00%	0.00%
SG&A Expenses to Revenue	233.09%	319.29%	404.08%	0.00%	0.00%
R&D to Revenue	69.85%	94.02%	140.73%	0.00%	0.00%
Operating Expenses to Revenue	445.11%	565.05%	725.51%	0.00%	0.00%
Earnings before Interest and Taxes (EBIT)	-5.04	-10	-8.25	-4.48	-7.87
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-3.26	-9.92	-8.06	-4.12	-7.77
Valuation Ratios	-	-	-	-	-
Price to Book Value (P/BV)	87.70	1.71	0.74	1.13	0.15
Price to Tangible Book Value (P/TBV)	87.70	1.71	0.74	1.13	0.23
Price to Revenue (P/Rev)	926.01	3.37	2.24	0.00	0.00
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	3,875.51	23.68	0.00	25.29	0.21
Enterprise Value to Revenue (EV/Rev)	915.69	1.45	0.00	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.27
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.27
Financial Leverage	-0.98	-0.98	-0.96	-0.96	-0.33
Leverage Ratio	1.13	1.24	1.53	1.30	1.29
Compound Leverage Factor	1.91	1.24	1.53	1.30	1.31
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	21.08%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	21.08%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	24.07%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	54.85%
Debt to EBITDA	0.00	0.00	0.00	0.00	-0.83
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.80
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	-0.83
Debt to NOPAT	0.00	0.00	0.00	0.00	-1.17
Net Debt to NOPAT	0.00	0.00	0.00	0.00	1.12
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	-1.17
Altman Z-Score	394.12	-10.07	-13.57	-19.65	-2.48
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	27.60%
Liquidity Ratios	-	-	-	-	-
Current Ratio	11.72	2.83	3.32	9.70	20.13
Quick Ratio	10.72	1.93	2.55	7.36	19.57
Cash Flow Metrics	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-6.88	-5.84	-2.98	-23
Operating Cash Flow to CapEx	0.00%	-81,081.82%	-7,212.71%	0.00%	-18,418.42%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	-160.70
Operating Cash Flow to Interest Expense	-1.62	0.00	0.00	0.00	-47.94
Operating Cash Flow Less CapEx to Interest Expense	-1.62	0.00	0.00	0.00	-48.20
Efficiency Ratios	-	-	-	-	-
Asset Turnover	0.08	0.18	0.21	0.00	0.00
Accounts Receivable Turnover	13.66	18.49	8.37	0.00	0.00
Inventory Turnover	3.02	2.39	1.10	0.00	0.00
Fixed Asset Turnover	114.27	160.00	17.55	0.00	0.00
Accounts Payable Turnover	1.64	1.46	0.87	0.00	0.00
Days Sales Outstanding (DSO)	26.71	19.74	43.61	0.00	0.00
Days Inventory Outstanding (DIO)	120.92	153.01	332.36	0.00	0.00
Days Payable Outstanding (DPO)	222.38	250.12	417.96	0.00	0.00
Cash Conversion Cycle (CCC)	-74.75	-77.37	-42.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-
Invested Capital	0.30	0.11	0.19	0.03	18
Invested Capital Turnover	4.23	8.98	7.89	0.00	0.00
Increase / (Decrease) in Invested Capital	0.00	-0.18	0.07	-0.15	18
Enterprise Value (EV)	1,151	2.68	-0.76	0.86	3.74
Market Capitalization	1,164	6.19	2.64	2.86	2.56
Book Value per Share	$3.80	$0.38	$0.02	$0.31	$9.51
Tangible Book Value per Share	$3.80	$0.38	$0.02	$0.31	$6.28
Total Capital	13	3.63	3.58	2.54	31
Total Debt	0.00	0.00	0.00	0.00	6.45
Total Long-Term Debt	0.00	0.00	0.00	0.00	6.45
Net Debt	-13	-3.52	-3.40	-2.00	-6.19
Capital Expenditures (CapEx)	0.00	0.01	0.12	0.00	0.04
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.10	-0.09	-0.14	0.37	-0.29
Debt-free Net Working Capital (DFNWC)	13	3.43	3.25	2.37	12
Net Working Capital (NWC)	13	3.43	3.25	2.37	12
Net Nonoperating Expense (NNE)	4.55	3.03	2.47	2.52	3.35
Net Nonoperating Obligations (NNO)	-13	-3.52	-3.40	-2.50	-6.20
Total Depreciation and Amortization (D&A)	1.77	0.17	0.18	0.35	0.10
Debt-free, Cash-free Net Working Capital to Revenue	7.56%	-4.84%	-12.24%	0.00%	0.00%
Debt-free Net Working Capital to Revenue	1,039.78%	186.30%	276.45%	0.00%	0.00%
Net Working Capital to Revenue	1,039.78%	186.30%	276.45%	0.00%	0.00%
Earnings Adjustments	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($104.00)	($176.80)	($19.68)	($7.84)
Adjusted Weighted Average Basic Shares Outstanding	0.00	96.73K	46.65K	287.37K	1.16M
Adjusted Diluted Earnings per Share	$0.00	($104.00)	($176.80)	($19.68)	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	0.00	96.73K	46.65K	287.37K	2.88M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	296.78K	86.24K	620.14K	2.88M
Normalized Net Operating Profit after Tax (NOPAT)	-3.94	-7.07	-5.77	-3.13	-5.53
Normalized NOPAT Margin	-313.69%	-384.16%	-490.77%	0.00%	0.00%
Pre Tax Income Margin	-675.74%	-548.70%	-701.02%	0.00%	0.00%
Debt Service Ratios	-	-	-	-	-
EBIT to Interest Expense	-1.46	0.00	0.00	0.00	-53.90
NOPAT to Interest Expense	-1.14	0.00	0.00	0.00	-37.87
EBIT Less CapEx to Interest Expense	-1.46	0.00	0.00	0.00	-54.16
NOPAT Less CapEx to Interest Expense	-1.14	0.00	0.00	0.00	-38.13
Payout Ratios	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Valion Bio, Inc. Common Stock's official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	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	6/30/2026
DEI Shares Outstanding	146,600,734.00	1,466,092.00	6,183,592.00	6,183,592.00	8,266,085.00	620,137.00	878,341.00	1,083,029.00	1,765,952.00	2,877,926.00	3,200,824.00
DEI Adjusted Shares Outstanding	86,236.00	86,241.00	363,741.00	363,741.00	486,240.00	620,137.00	878,341.00	1,083,029.00	1,765,952.00	2,877,926.00	3,200,824.00
DEI Earnings Per Adjusted Shares Outstanding	-26.01	-17.17	-3.48	-3.93	-3.04	-2.42	-2.20	-2.40	-1.61	-2.16	-2.22
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-12.29%	-11.17%	-13.04%	-55.32%	-268.07%	-100.00%	-100.00%	15.87%	49.67%	0.00%	0.00%
EBITDA Growth	0.59%	30.74%	40.62%	16.67%	98.86%	4.11%	-35.90%	-81.82%	-7,400.00%	-261.56%	-214.79%
EBIT Growth	0.49%	30.01%	40.42%	18.69%	86.72%	7.02%	-32.54%	-81.69%	-562.75%	-306.75%	-280.04%
NOPAT Growth	0.49%	30.01%	40.42%	18.69%	86.72%	7.02%	-32.54%	-73.52%	-562.75%	-309.15%	-282.84%
Net Income Growth	0.49%	30.01%	40.42%	18.69%	34.15%	-1.42%	-52.53%	-81.41%	-92.89%	-312.92%	-267.84%
EPS Growth	0.49%	30.01%	40.42%	0.00%	34.15%	0.00%	0.00%	0.00%	51.95%	0.00%	0.00%
Operating Cash Flow Growth	20.34%	31.33%	47.25%	24.80%	23.06%	46.64%	-41.96%	-41.86%	-67.55%	-463.67%	-189.05%
Free Cash Flow Firm Growth	-17.81%	-20.90%	69.03%	7.90%	96.49%	-91.81%	-259.90%	-96.40%	-33,433.85%	-596.19%	-504.10%
Invested Capital Growth	63.72%	1,176.32%	-0.60%	0.00%	-81.62%	388.04%	401.60%	231.94%	52,744.12%	670.43%	587.50%
Revenue Q/Q Growth	26.60%	-6.44%	-58.08%	-10.00%	-576.19%	100.00%	0.00%	69.77%	-306.85%	100.00%	0.00%
EBITDA Q/Q Growth	-28.03%	34.68%	14.01%	-15.88%	98.25%	-5,404.00%	-21.88%	-34.51%	27.88%	-165.33%	-6.11%
EBIT Q/Q Growth	-27.50%	34.00%	14.52%	-13.03%	79.18%	-362.08%	-21.86%	-34.44%	24.04%	-183.59%	-13.85%
NOPAT Q/Q Growth	-27.50%	34.00%	14.52%	-13.03%	79.18%	-362.08%	-21.86%	-28.39%	20.46%	-185.27%	-14.02%
Net Income Q/Q Growth	-27.44%	33.97%	14.52%	-13.03%	-3.21%	-1.69%	-28.56%	-34.44%	-9.75%	-117.69%	-14.53%
EPS Q/Q Growth	-27.44%	33.97%	14.52%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	5.18%	6.09%	22.75%	-9.32%	2.99%	34.87%	-105.51%	-9.25%	-14.58%	-119.11%	-5.39%
Free Cash Flow Firm Q/Q Growth	8.12%	9.68%	40.47%	-86.45%	96.50%	-4,840.80%	-11.69%	3.68%	-497.25%	-2.57%	3.08%
Invested Capital Q/Q Growth	0.00%	162.16%	2.89%	29.26%	-94.73%	6,861.76%	5.75%	-14.46%	739.19%	1.50%	-5.64%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	1.40%	50.00%	21.43%	34.92%	0.00%	0.00%	0.00%	-99.32%	0.00%	0.00%	0.00%
EBITDA Margin	-615.41%	-429.64%	-881.43%	-1,134.92%	0.00%	0.00%	0.00%	-1,780.82%	0.00%	0.00%	0.00%
Operating Margin	-628.57%	-443.41%	-904.29%	-1,135.71%	0.00%	0.00%	0.00%	-1,700.68%	0.00%	0.00%	0.00%
EBIT Margin	-628.57%	-443.41%	-904.29%	-1,135.71%	0.00%	0.00%	0.00%	-1,780.82%	0.00%	0.00%	0.00%
Profit (Net Income) Margin	-628.29%	-443.41%	-904.29%	-1,135.71%	0.00%	0.00%	0.00%	-1,778.08%	0.00%	0.00%	0.00%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	505.82%	109.40%	115.28%	100.00%	145.06%	99.63%	100.65%
Interest Burden Percent	99.96%	100.00%	100.00%	100.00%	97.99%	99.71%	99.82%	99.85%	99.44%	111.14%	110.66%
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)	-3,472.75%	-1,346.01%	-1,407.65%	-2,359.12%	0.00%	0.00%	0.00%	-411.92%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	-3,453.30%	-1,333.01%	-1,395.69%	-2,319.89%	0.00%	0.00%	0.00%	-381.50%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	3,310.57%	1,238.26%	1,205.69%	1,791.90%	0.00%	0.00%	0.00%	255.34%	0.00%	0.00%	0.00%
Return on Equity (ROE)	-162.18%	-107.75%	-201.96%	-567.22%	-184.96%	-218.77%	-160.96%	-156.58%	-66.50%	-68.35%	-161.16%
Cash Return on Invested Capital (CROIC)	-3,921.81%	-2,208.03%	-943.60%	-1,593.92%	-2,723.47%	-346.59%	-356.62%	-479.55%	-260.67%	-198.36%	-229.23%
Operating Return on Assets (OROA)	-134.01%	-96.82%	-214.62%	-320.24%	0.00%	0.00%	0.00%	-178.40%	0.00%	0.00%	0.00%
Return on Assets (ROA)	-133.95%	-96.82%	-214.62%	-320.24%	0.00%	0.00%	0.00%	-178.12%	0.00%	0.00%	0.00%
Return on Common Equity (ROCE)	-162.18%	-107.75%	-201.96%	-567.22%	-184.96%	-218.77%	-160.96%	-156.58%	-48.14%	-44.64%	-82.10%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-353.41%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-1.57	-1.04	-0.89	-1.00	-0.21	-0.96	-1.17	-1.74	-1.38	-3.94	-4.50
NOPAT Margin	-440.00%	-310.39%	-633.00%	-795.00%	0.00%	0.00%	0.00%	-1,190.48%	0.00%	0.00%	0.00%
Net Nonoperating Expense Percent (NNEP)	-19.45%	-13.00%	-11.96%	-39.22%	-43.03%	-46.05%	-31.02%	-30.43%	-33.71%	-460.39%	125.93%
Return On Investment Capital (ROIC_SIMPLE)	-43.88%	-48.15%	-21.14%	-35.35%	-8.23%	-31.75%	-31.86%	-31.09%	-5.95%	-21.96%	-38.65%
Cost of Revenue to Revenue	98.60%	50.00%	78.57%	65.08%	0.00%	0.00%	0.00%	199.32%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	323.25%	265.57%	562.14%	650.00%	0.00%	0.00%	0.00%	729.45%	0.00%	0.00%	0.00%
R&D to Revenue	100.84%	76.65%	215.71%	334.92%	0.00%	0.00%	0.00%	587.67%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	629.97%	493.41%	925.71%	1,170.63%	0.00%	0.00%	0.00%	1,601.37%	0.00%	0.00%	0.00%
Earnings before Interest and Taxes (EBIT)	-2.24	-1.48	-1.27	-1.43	-0.30	-1.38	-1.68	-2.60	-1.98	-5.60	-6.38
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-2.20	-1.44	-1.23	-1.43	-0.03	-1.38	-1.68	-2.60	-1.88	-4.98	-5.28
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.74	0.85	0.58	0.54	1.13	0.52	0.99	0.56	0.15	0.23	0.39
Price to Tangible Book Value (P/TBV)	0.74	0.85	0.58	0.54	1.13	0.52	0.99	0.93	0.23	0.48	0.00
Price to Revenue (P/Rev)	2.24	1.62	2.17	1.61	0.00	0.00	0.00	6.49	0.00	0.00	0.00
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.34	0.00	0.00	25.29	0.39	0.98	0.00	0.21	0.53	0.85
Enterprise Value to Revenue (EV/Rev)	0.00	0.15	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.27	0.37	0.62
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.27	0.37	0.62
Financial Leverage	-0.96	-0.93	-0.86	-0.77	-0.96	-0.45	-0.62	-0.67	-0.33	-0.05	0.27
Leverage Ratio	1.53	1.41	1.28	1.20	1.30	1.36	1.18	1.14	1.29	1.95	2.37
Compound Leverage Factor	1.53	1.41	1.28	1.20	1.28	1.36	1.18	1.14	1.28	2.16	2.63
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	21.08%	27.11%	38.33%
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%	21.08%	27.11%	38.33%
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%	24.07%	29.42%	39.64%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	54.85%	43.47%	22.03%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.83	-1.20	-0.79
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.80	0.06	-0.57
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.83	-1.20	-0.79
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-1.17	-1.51	-0.94
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.12	0.07	-0.67
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-1.17	-1.51	-0.94
Altman Z-Score	-9.73	-16.27	-9.06	-15.89	-14.74	-16.54	-12.99	-8.91	-1.86	-2.38	-3.45
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	27.60%	34.68%	49.06%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.32	2.85	7.89	5.65	9.70	1.70	2.24	5.86	20.13	3.31	1.11
Quick Ratio	2.55	1.76	6.28	3.93	7.36	0.92	1.46	5.44	19.57	2.76	0.69
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1.64	-1.48	-0.88	-1.65	-0.06	-2.85	-3.18	-3.23	-19	-20	-19
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-60,900.00%	-19,960.00%	-9,148.00%	-71,585.71%	-9,264.91%
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	-30.58	-27.79
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-7.73	-7.64
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	-7.74	-7.73
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.21	0.22	0.24	0.28	0.00	0.00	0.00	0.10	0.00	0.00	0.00
Accounts Receivable Turnover	8.37	17.31	76.76	106.33	0.00	0.00	0.00	34.43	0.00	0.00	0.00
Inventory Turnover	1.10	0.92	0.92	0.97	0.00	0.00	0.00	2.07	0.00	0.00	0.00
Fixed Asset Turnover	17.55	10.08	9.12	8.04	0.00	0.00	0.00	7.36	0.00	0.00	0.00
Accounts Payable Turnover	0.87	0.97	1.26	2.14	0.00	0.00	0.00	1.91	0.00	0.00	0.00
Days Sales Outstanding (DSO)	43.61	21.08	4.76	3.43	0.00	0.00	0.00	10.60	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	332.36	395.15	398.64	375.27	0.00	0.00	0.00	176.03	0.00	0.00	0.00
Days Payable Outstanding (DPO)	417.96	377.66	290.23	170.95	0.00	0.00	0.00	191.12	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	-42.00	38.57	113.16	207.75	0.00	0.00	0.00	-4.49	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.19	0.49	0.50	0.65	0.03	2.37	2.50	2.14	18	18	17
Invested Capital Turnover	7.89	4.34	2.22	2.97	0.00	0.00	0.00	0.35	0.00	0.00	0.00
Increase / (Decrease) in Invested Capital	0.07	0.45	-0.00	0.65	-0.15	1.88	2.00	1.50	18	16	15
Enterprise Value (EV)	-0.76	0.16	-1.28	-0.65	0.86	0.92	2.46	-0.32	3.74	9.72	15
Market Capitalization	2.64	1.83	2.41	1.54	2.86	1.59	3.65	3.13	2.56	2.55	1.66
Book Value per Share	$0.02	$1.47	$0.68	$0.46	$0.31	$4.90	$4.20	$5.16	$9.51	$3.84	$1.33
Tangible Book Value per Share	$0.02	$1.47	$0.68	$0.46	$0.31	$4.90	$4.20	$3.09	$6.28	$1.86	($0.45)
Total Capital	3.58	2.15	4.19	2.83	2.54	3.04	3.69	5.59	31	25	19
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	6.45	6.90	7.39
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	6.45	6.90	7.39
Net Debt	-3.40	-1.67	-3.69	-2.19	-2.00	-0.67	-1.18	-3.45	-6.19	-0.32	5.28
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.03	0.01	0.06
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-0.14	0.17	0.38	0.41	0.37	-0.15	-0.16	-0.35	-0.29	-1.18	-1.77
Debt-free Net Working Capital (DFNWC)	3.25	1.84	4.07	2.60	2.37	0.52	1.02	3.10	12	6.04	0.34
Net Working Capital (NWC)	3.25	1.84	4.07	2.60	2.37	0.52	1.02	3.10	12	6.04	0.34
Net Nonoperating Expense (NNE)	0.67	0.44	0.38	0.43	1.27	0.54	0.76	0.86	1.47	2.26	2.61
Net Nonoperating Obligations (NNO)	-3.40	-1.67	-3.69	-2.19	-2.50	-0.67	-1.18	-3.45	-6.20	-0.31	5.32
Total Depreciation and Amortization (D&A)	0.05	0.05	0.03	0.00	0.27	0.00	0.00	0.00	0.10	0.63	1.10
Debt-free, Cash-free Net Working Capital to Revenue	-12.24%	14.73%	34.05%	43.26%	0.00%	0.00%	0.00%	-72.20%	0.00%	0.00%	0.00%
Debt-free Net Working Capital to Revenue	276.45%	161.82%	365.86%	272.00%	0.00%	0.00%	0.00%	643.57%	0.00%	0.00%	0.00%
Net Working Capital to Revenue	276.45%	161.82%	365.86%	272.00%	0.00%	0.00%	0.00%	643.57%	0.00%	0.00%	0.00%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($817.36)	($17.17)	($5.44)	($3.91)	($87.38)	($2.52)	($2.19)	($1.97)	($2.47)	($2.23)	($2.17)
Adjusted Weighted Average Basic Shares Outstanding	2.74K	86.34K	235.87K	364.18K	16.90K	596.37K	881.29K	1.32M	1.16M	2.88M	3.38M
Adjusted Diluted Earnings per Share	($817.36)	($17.17)	($5.44)	($3.91)	($87.38)	($2.52)	($2.19)	$0.00	($2.47)	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	2.74K	86.34K	235.87K	364.18K	36.48K	596.37K	881.29K	1.77M	2.88M	3.20M	22.19M
Adjusted Basic & Diluted Earnings per Share	($817.36)	$0.00	$0.00	$0.00	($87.38)	$0.00	$0.00	$0.00	($2.47)	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	86.24K	363.74K	363.74K	486.24K	36.48K	878.34K	1.08M	1.77M	2.88M	3.20M	22.19M
Normalized Net Operating Profit after Tax (NOPAT)	-1.57	-1.04	-0.89	-1.00	-0.21	-0.96	-1.17	-1.74	-1.38	-3.94	-4.50
Normalized NOPAT Margin	-440.00%	-310.39%	-633.00%	-795.00%	0.00%	0.00%	0.00%	-1,190.48%	0.00%	0.00%	0.00%
Pre Tax Income Margin	-628.29%	-443.41%	-904.29%	-1,135.71%	0.00%	0.00%	0.00%	-1,778.08%	0.00%	0.00%	0.00%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-8.64	-9.23
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-6.09	-6.51
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-8.65	-9.31
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-6.10	-6.59
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

Valion Bio’s latest statements show a development-stage company with no reported revenue, rapidly increasing operating costs and substantial cash burn. The financial data covers quarterly periods from 2023 through the second quarter of 2026, although several historical statements are marked as restated or calculated and should be interpreted with caution.

Operating performance: Revenue has been inconsistent and has effectively disappeared in the latest periods. Valion Bio reported revenue of $140,000 in Q2 2024 and $146,000 in Q3 2025, but reported zero revenue in Q1 and Q2 2025 and again in Q1 and Q2 2026. The company therefore generated no gross profit in either of the first two quarters of 2026.

Operating expenses have risen sharply. Total operating expenses increased from $1.48 million in Q3 2024 to $2.02 million in Q4 2025, $5.63 million in Q1 2026 and $6.42 million in Q2 2026. Research and development spending rose to $2.70 million in Q2 2026 from $1.85 million in Q1 and $655,000 in Q2 2025, while selling, general and administrative expense reached $3.72 million.

The company’s Q2 2026 net loss attributable to common shareholders was $7.10 million, compared with a $6.20 million loss in Q1 2026 and a $2.85 million loss in Q4 2025. Interest expense also increased to $691,000 in Q2 from $648,000 in Q1, further widening the loss. Basic loss per share was $2.17 in Q2 2026, versus $2.23 in Q1.

Cash flow and liquidity: Valion Bio used $5.28 million in operating cash during Q2 2026, following $5.01 million in Q1. After modest investing and financing activity, cash declined by $5.11 million during Q2, leaving $2.11 million of cash and equivalents at June 30, 2026. At the current quarterly operating burn rate, the reported cash balance appears insufficient to fund even one additional quarter of operations without new financing or a significant reduction in spending.

Balance sheet: Total assets declined from $38.22 million at March 31, 2026, to $32.47 million at June 30. Total liabilities increased to $20.59 million, including $7.39 million of long-term debt and $10.15 million of other noncurrent operating liabilities. Common equity fell to $4.25 million from $11.06 million in the prior quarter, while retained earnings remained deeply negative at $66.51 million.

Financing access has historically been available: The company raised $11.87 million through preferred equity issuance in Q4 2025 and reported $231,000 of net financing inflow in Q2 2026, indicating some access to external capital.
Research and development investment is increasing: R&D expense reached $2.70 million in Q2 2026, which could support pipeline development if the spending produces commercially viable products or partnerships.
Current liabilities remain relatively contained compared with current assets: Q2 current assets of $3.38 million exceeded current liabilities of $3.05 million, although the margin of safety is narrow and most current assets were not cash.
Asset growth reflects a major change in the company’s structure: Total assets increased from $6.23 million in Q3 2025 to more than $38 million in Q1 2026 before declining to $32.47 million in Q2. The increase includes substantial property, plant and equipment, goodwill, intangible assets and other noncurrent assets, making asset quality and future impairment risk important items to monitor.
Share-count comparisons are difficult: Weighted-average basic shares increased from 46,650 in Q4 2023 to 3.38 million in Q2 2026, while diluted share figures have also fluctuated substantially. Capital raises, conversions or other corporate actions may make per-share trends less comparable across periods.
Revenue generation is the central weakness: The company reported zero revenue in both Q1 and Q2 2026, leaving no operating contribution to offset its substantial research, administrative and interest costs.
Operating losses are accelerating: The Q2 2026 operating loss was $6.42 million, more than four times the $1.48 million loss reported in Q3 2024 and above the $5.63 million loss in Q1 2026.
Cash burn is materially above available liquidity: Valion Bio used $10.29 million in operating cash during the first half of 2026 while ending Q2 with only $2.11 million in cash and equivalents.
External financing appears necessary: With continuing losses, negative operating cash flow and increasing debt and other liabilities, the company may need additional equity, preferred securities or debt financing. Such financing could increase leverage or dilute common shareholders.
Common-equity protection has weakened: Total common equity declined by approximately 62% from $11.06 million at the end of Q1 2026 to $4.25 million at the end of Q2, while accumulated retained losses reached $66.51 million.

Overall, the statements present a high-risk financial profile. The primary potential catalyst is successful development and commercialization of the company’s pipeline, but the current financial statements provide little evidence of operating revenue or self-sustaining cash flow. Investors should focus on upcoming financing activity, cash levels, R&D progress, potential asset impairments and whether revenue begins to emerge.

09/25/26 12:40 AM ETAI Generated. May Contain Errors.

Valion Bio, Inc. Common Stock Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Valion Bio, Inc. Common Stock's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Valion Bio, Inc. Common Stock's net income appears to be on an upward trend, with a most recent value of -$8.88 million in 2025, falling from -$8.49 million in 2021. The previous period was -$5.66 million in 2024. Check out Valion Bio, Inc. Common Stock's forecast to explore projected trends and price targets.

Valion Bio, Inc. Common Stock's total operating income in 2025 was -$7.90 million, based on the following breakdown:

Total Gross Profit: $0.00
Total Operating Expenses: $7.90 million

Over the last 4 years, Valion Bio, Inc. Common Stock's total revenue changed from $1.26 million in 2021 to $0.00 in 2025, a change of -100.0%.

In the past 9 quarters, Valion Bio, Inc. Common Stock's cash and equivalents has ranged from $669 thousand in Q1 2025 to $7.22 million in Q1 2026, and is currently $2.11 million as of their latest financial filing in Q2 2026.

Valion Bio, Inc. Common Stock had total debt of $6.45 million at the end of 2025, compared with none in 2024, and none in 2021.

Over the last 4 years, Valion Bio, Inc. Common Stock's book value per share changed from 3.80 in 2021 to 9.51 in 2025, a change of 150.4%.

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Financial statements for NASDAQ:VBIO last updated on 8/31/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Valion Bio, Inc. Common Stock (VBIO) Financials

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Valion Bio, Inc. Common Stock (VBIO) Financials

Annual Income Statements for Valion Bio, Inc. Common Stock

Quarterly Income Statements for Valion Bio, Inc. Common Stock

Annual Cash Flow Statements for Valion Bio, Inc. Common Stock

Quarterly Cash Flow Statements for Valion Bio, Inc. Common Stock

Annual Balance Sheets for Valion Bio, Inc. Common Stock

Quarterly Balance Sheets for Valion Bio, Inc. Common Stock

Annual Metrics And Ratios for Valion Bio, Inc. Common Stock

Quarterly Metrics And Ratios for Valion Bio, Inc. Common Stock

Financials Breakdown Chart

Key Financial Trends

Valion Bio, Inc. Common Stock Financials - Frequently Asked Questions

When does Valion Bio, Inc. Common Stock's financial year end?

How has Valion Bio, Inc. Common Stock's net income changed over the last 4 years?

What is Valion Bio, Inc. Common Stock's operating income?

How has Valion Bio, Inc. Common Stock's revenue changed over the last 4 years?

How much cash does Valion Bio, Inc. Common Stock have?

How much debt does Valion Bio, Inc. Common Stock have?

How has Valion Bio, Inc. Common Stock's book value per share changed over the last 4 years?

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