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Exicure (XCUR) Financials

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$1.89 +0.21 (+12.50%)
Closing price 04:00 PM Eastern
Extended Trading
$1.78 -0.11 (-5.82%)
As of 07:59 PM Eastern
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Annual Income Statements for Exicure

Annual Income Statements for Exicure

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

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2016 12/31/2017 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		 -17 -11 -22 -26 -25 -64 -2.58 -17 -9.70 -4.95
Consolidated Net Income / (Loss)		 -17 -11 -22 -26 -25 -64 -2.58 -17 -9.70 -4.95
Net Income / (Loss) Continuing Operations		 -17 -11 -22 -26 -25 -64 -2.58 -17 -9.70 -4.95
Total Pre-Tax Income 		-17 -11 -22 -26 -25 -64 -2.37 -17 -9.69 -5.58
Total Operating Income		 -16 -10 -22 -27 -25 -63 -1.83 -15 -12 -4.23
Total Gross Profit		 1.04 0.00 0.12 1.30 0.00 -0.48 29 0.00 0.50 0.00
Total Revenue		 1.04 0.00 0.12 1.30 0.00 -0.48 29 0.00 0.50 0.00
Operating Revenue		 1.04 0.00 0.12 1.30 - -0.48 29 0.00 0.50 0.00
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Operating Expenses		 17 10 22 28 25 62 31 15 13 4.23
Selling, General & Admin Expense		 3.54 7.05 7.82 8.57 9.96 13 11 12 5.45 6.83
Research & Development Expense		 14 13 14 19 32 49 20 1.42 0.00 3.29
Other Operating Expenses / (Income)		 - -9.72 - - -17 - 0.00 0.92 0.00 -5.97
Impairment Charge		 - - - - - - - 0.00 5.72 0.00
Other Special Charges / (Income)		 - - - - - - - 0.94 1.56 0.09
Total Other Income / (Expense), net		 -0.78 -0.60 -0.59 0.31 0.77 -1.55 -0.54 -1.92 2.54 -1.35
Interest Expense		 0.72 0.80 0.67 0.79 0.57 1.69 0.60 0.00 0.02 0.00
Interest & Investment Income		 - - 0.33 0.72 1.02 0.15 0.09 0.08 0.01 0.14
Other Income / (Expense), net		 -0.06 0.19 -0.25 0.38 0.32 -0.01 -0.04 -2.00 2.54 -1.48
Income Tax Expense		 - - - 0.00 0.00 0.00 0.21 0.00 0.01 -0.63
Basic Earnings per Share		 ($149.37) ($1.09) ($0.54) ($0.46) ($0.28) ($21.70) ($0.56) ($10.55) ($4.75) ($0.79)
Weighted Average Basic Shares Outstanding		 113.42K 10.12M 41.19M 57.67M 87.20M 2.95M 4.62M 1.60M 2.04M 6.30M
Diluted Earnings per Share		 ($149.37) ($1.09) ($0.54) ($0.46) ($0.28) ($21.70) ($0.56) ($10.55) ($4.75) ($0.79)
Weighted Average Diluted Shares Outstanding		 113.42K 10.12M 41.19M 57.67M 87.20M 2.95M 4.62M 1.60M 2.04M 6.30M
Weighted Average Basic & Diluted Shares Outstanding		 113.42K 10.12M 41.19M 57.67M 87.20M 122.79M 8.37M - 6.32M 6.37M

Quarterly Income Statements for Exicure

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -5.26 -1.49 -0.83 -0.60 -1.09 -7.18 3.01 -2.62 -2.44 -2.90 -1.83
Consolidated Net Income / (Loss)		 -5.26 -1.49 -0.83 -0.60 -1.09 -7.18 3.01 -2.62 -2.44 -2.90 -1.83
Net Income / (Loss) Continuing Operations		 -5.26 -1.49 -0.83 -0.60 -1.09 -7.18 3.01 -2.62 -2.44 -2.90 -1.83
Total Pre-Tax Income 		-5.26 -1.49 -0.83 -0.60 -1.08 -7.18 3.01 -2.62 -2.44 -3.53 -1.83
Total Operating Income		 -3.32 -1.50 -0.84 -1.24 -2.57 -7.59 2.92 -2.51 -2.39 -2.28 -1.64
Total Gross Profit		 0.00 - 0.50 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Revenue		 0.00 - 0.50 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Cost of Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Operating Expenses		 3.32 1.50 1.34 1.24 2.57 7.59 -2.92 2.51 2.39 2.28 1.64
Selling, General & Admin Expense		 2.40 0.56 1.34 1.24 1.43 1.44 2.22 1.51 1.50 1.60 1.29
Research & Development Expense		 0.00 - 0.00 0.00 0.00 - 0.81 0.94 0.89 0.66 0.31
Other Special Charges / (Income)		 0.00 - 0.00 0.00 1.14 0.42 0.03 0.06 0.00 - 0.04
Total Other Income / (Expense), net		 -1.94 0.01 0.01 0.64 1.49 0.41 0.09 -0.11 -0.05 -1.25 -0.19
Interest & Investment Income		 0.02 0.01 0.01 0.00 0.00 0.00 0.03 0.06 0.06 -0.01 0.00
Other Income / (Expense), net		 -1.96 - 0.00 0.63 1.50 0.41 0.06 -0.17 -0.10 -1.24 -0.19
Income Tax Expense		 0.00 - 0.00 0.00 0.01 - 0.00 0.00 0.00 -0.63 0.00
Basic Earnings per Share		 ($3.04) ($0.93) ($0.48) ($0.35) ($0.57) ($3.51) $0.49 ($0.41) ($0.39) ($0.46) ($0.29)
Weighted Average Basic Shares Outstanding		 1.73M 1.60M 1.73M 1.73M 1.90M 2.04M 6.17M 6.32M 6.32M 6.30M 6.37M
Diluted Earnings per Share		 ($3.04) ($0.93) ($0.48) ($0.35) ($0.57) ($3.51) $0.49 ($0.41) ($0.39) ($0.46) ($0.29)
Weighted Average Diluted Shares Outstanding		 1.73M 1.60M 1.73M 1.73M 1.90M 2.04M 6.18M 6.32M 6.32M 6.30M 6.37M
Weighted Average Basic & Diluted Shares Outstanding		 - 0.00 8.65M 8.65M 2.17M 6.32M 6.32M 6.32M 6.37M 6.37M 6.37M

Annual Cash Flow Statements for Exicure

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

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2016 12/31/2017 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		 0.89 6.14 0.50 22 -14 9.38 -34 -7.76 10 -8.76
Net Cash From Operating Activities		 -5.05 -20 -19 1.32 -39 -35 -36 -10 -2.91 -8.56
Net Cash From Continuing Operating Activities		 -5.05 -20 -19 1.32 -39 -35 -36 -10 -2.91 -8.56
Net Income / (Loss) Continuing Operations		 -17 -11 -22 -26 -25 -64 -2.58 -17 -9.70 -4.95
Consolidated Net Income / (Loss)		 -17 -11 -22 -26 -25 -64 -2.58 -17 -9.70 -4.95
Depreciation Expense		 0.18 0.23 0.36 0.39 0.77 1.12 1.16 0.63 0.03 0.24
Amortization Expense		 0.19 0.19 0.10 0.52 1.11 1.12 1.17 0.74 0.80 0.22
Non-Cash Adjustments To Reconcile Net Income		 0.75 1.24 2.09 1.43 1.79 2.92 1.37 4.27 5.34 -6.13
Changes in Operating Assets and Liabilities, net		 11 -10 0.38 25 -18 24 -37 0.91 0.63 2.06
Net Cash From Investing Activities		 -0.39 -0.93 -0.09 -63 10 43 4.70 -1.08 0.00 -1.81
Net Cash From Continuing Investing Activities		 -0.39 -0.93 -0.09 -63 10 43 4.70 -1.08 0.00 -1.81
Purchase of Property, Plant & Equipment		 -0.39 -0.93 -0.09 -1.08 -3.17 -0.97 -0.01 - 0.00 -0.00
Purchase of Investments		 - - 0.00 -62 -57 -6.50 -1.50 -2.00 0.00 -2.09
Sale of Property, Plant & Equipment		 - - - - - 0.00 0.21 0.92 0.00 0.04
Divestitures		 - - - - - - - - 0.00 0.47
Other Investing Activities, net		 - - - - - 0.00 - - 0.00 -0.23
Net Cash From Financing Activities		 6.34 27 20 84 15 1.12 -3.11 3.67 13 1.60
Net Cash From Continuing Financing Activities		 6.34 27 20 84 15 1.12 -3.11 3.67 13 1.60
Issuance of Debt		 6.00 - - 0.00 18 - - 0.00 1.00 0.00
Issuance of Common Equity		 0.00 32 22 91 2.97 12 5.05 5.44 12 1.60

Quarterly Cash Flow Statements for Exicure

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -1.41 -0.11 -0.45 -0.17 -0.45 12 -2.09 -2.56 -3.42 -0.69 -1.14
Net Cash From Operating Activities		 -1.41 -0.82 -0.45 -1.17 -0.45 -0.85 -1.60 -2.28 -3.53 -1.15 -1.14
Net Cash From Continuing Operating Activities		 -1.41 -0.82 -0.45 -1.17 -0.45 -0.85 -1.60 -2.28 -3.53 -1.15 -1.14
Net Income / (Loss) Continuing Operations		 -5.26 -1.49 -0.83 -0.60 -1.09 -7.18 3.01 -2.62 -2.44 -2.90 -1.83
Consolidated Net Income / (Loss)		 -5.26 -1.49 -0.83 -0.60 -1.09 -7.18 3.01 -2.62 -2.44 -2.90 -1.83
Depreciation Expense		 0.15 0.01 0.01 0.01 0.01 0.01 0.06 0.07 0.08 0.03 0.05
Amortization Expense		 0.19 0.19 0.19 0.20 0.20 0.21 0.05 0.06 -0.02 0.13 0.06
Non-Cash Adjustments To Reconcile Net Income		 2.93 0.02 0.01 0.01 0.01 5.32 -6.14 0.06 -0.15 0.10 0.04
Changes in Operating Assets and Liabilities, net		 0.58 0.45 0.17 -0.78 0.43 0.80 1.42 0.15 -1.01 1.50 0.54
Net Cash From Investing Activities		 - 0.71 0.00 - - - -2.09 -0.28 0.11 0.46 0.00
Net Cash From Continuing Investing Activities		 - 0.71 0.00 - - - -2.09 -0.28 0.11 0.46 0.00
Acquisitions		 - - 0.00 - - - -2.09 - - - 0.00
Net Cash From Financing Activities		 -0.00 -0.00 0.00 1.00 - 12 1.60 - - - 0.00
Net Cash From Continuing Financing Activities		 -0.00 -0.00 0.00 1.00 - 12 1.60 - - - 0.00
Issuance of Common Equity		 - - 0.00 - - 12 1.60 - - - 0.00

Annual Balance Sheets for Exicure

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

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 21 29 29 115 100 65 23 12 15 14
Total Current Assets		 20 28 28 113 86 44 10 2.02 14 4.62
Cash & Equivalents		 20 26 26 48 33 35 8.58 0.82 13 3.75
Accounts Receivable		 0.02 0.01 0.00 0.04 0.01 - 0.00 0.02 0.52 0.06
Prepaid Expenses		 0.40 1.84 1.39 1.96 4.23 4.53 1.47 1.19 0.64 0.82
Plant, Property, & Equipment, net		 0.50 1.32 1.06 2.10 4.12 3.93 2.53 0.05 0.03 0.31
Total Noncurrent Assets		 0.03 0.03 0.03 0.39 10.00 17 11 9.50 1.36 9.11
Goodwill		 - - - - - - - - 0.00 4.40
Intangible Assets		 - - - - - - - - 0.00 3.78
Other Noncurrent Operating Assets		 0.03 0.03 0.03 0.39 10.00 17 11 9.50 1.36 0.93
Total Liabilities & Shareholders' Equity		 21 29 29 115 100 65 23 12 15 14
Total Liabilities		 18 9.01 7.80 35 39 54 8.41 8.55 8.28 10
Total Current Liabilities		 12 3.36 2.04 31 14 34 1.64 2.51 3.07 3.89
Accounts Payable		 0.51 1.05 0.50 1.81 1.87 3.41 0.36 1.63 1.03 1.69
Accrued Expenses		 2.16 1.27 1.54 2.44 3.53 6.46 1.28 0.88 2.04 2.20
Total Noncurrent Liabilities		 5.97 5.66 5.76 3.43 25 20 6.77 6.04 5.21 6.23
Noncurrent Deferred & Payable Income Tax Liabilities		 - - - - - - - - 0.00 0.42
Other Noncurrent Operating Liabilities		 0.48 0.80 0.84 0.47 8.62 8.06 6.77 6.04 5.21 5.80
Commitments & Contingencies		 - - - - - - 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 2.45 20 21 81 62 11 15 3.03 6.77 3.93
Total Preferred & Common Equity		 2.45 20 21 81 62 11 15 3.03 6.77 3.93
Preferred Stock		 43 - - 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -40 20 21 81 62 11 15 3.03 6.77 3.93
Common Stock		 -18 54 76 162 167 181 188 193 206 208
Retained Earnings		 -23 -34 -55 -81 -106 -170 -173 -190 -199 -204
Accumulated Other Comprehensive Income / (Loss)		 - - 0.00 -0.03 0.08 -0.00 0.00 - 0.00 -0.00

Quarterly Balance Sheets for Exicure

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

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 13 11 11 11 21 19 15 13
Total Current Assets		 3.09 1.46 2.08 2.60 11 8.65 5.44 3.53
Cash & Equivalents		 0.92 0.37 0.53 0.34 10 7.86 4.44 2.60
Accounts Receivable		 0.71 0.00 0.56 1.35 0.17 0.08 0.06 0.06
Prepaid Expenses		 1.46 1.10 0.99 0.91 0.71 0.71 0.95 0.87
Plant, Property, & Equipment, net		 0.06 0.05 0.04 0.03 0.57 0.71 0.53 0.22
Total Noncurrent Assets		 9.80 9.20 8.57 8.00 8.81 9.38 9.30 9.00
Goodwill		 - - - - 3.34 3.34 3.34 4.40
Intangible Assets		 - - - - 3.78 3.78 3.78 3.78
Other Noncurrent Operating Assets		 9.80 9.20 8.57 8.00 1.69 2.26 2.18 0.82
Total Liabilities & Shareholders' Equity		 13 11 11 11 21 19 15 13
Total Liabilities		 8.45 8.50 9.08 9.09 9.30 9.88 8.34 11
Total Current Liabilities		 2.22 2.66 3.43 3.66 3.89 4.57 2.77 4.46
Accounts Payable		 0.87 1.83 1.59 1.34 1.21 1.84 1.31 2.45
Accrued Expenses		 1.36 0.84 0.85 2.32 2.68 2.73 1.46 2.02
Total Noncurrent Liabilities		 6.23 5.84 5.64 5.43 5.41 5.31 5.57 6.20
Noncurrent Deferred & Payable Income Tax Liabilities		 - - - - - - - 0.42
Other Noncurrent Operating Liabilities		 6.23 5.84 5.64 5.43 5.41 5.31 5.55 5.77
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 4.50 2.21 1.61 1.55 11 8.86 6.93 2.10
Total Preferred & Common Equity		 4.50 2.21 1.61 1.55 11 8.86 6.93 2.10
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 4.50 2.21 1.61 1.55 11 8.86 6.93 2.10
Common Stock		 193 193 193 194 208 208 208 208
Retained Earnings		 -188 -190 -191 -192 -196 -199 -201 -206
Accumulated Other Comprehensive Income / (Loss)		 - - - - - 0.10 0.10 -0.00

Annual Metrics And Ratios for Exicure

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

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 39,300,823.00 44,358,000.00 75,994,790.00 87,228,586.00 88,120,951.00 4,964,630.00 25,944,921.00 2,172,323.00 6,373,869.00
DEI Adjusted Shares Outstanding		 0.00 262,005.00 295,720.00 506,632.00 581,524.00 587,473.00 992,926.00 5,188,984.00 2,172,323.00 6,373,869.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 -42.03 -75.79 -51.92 -42.42 -109.11 -2.60 -3.26 -4.47 -0.78
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 0.00% -100.00% 0.00% 998.31% -100.00% 0.00% 6,068.12% -100.00% 0.00% -100.00%
EBITDA Growth		 0.00% 38.18% -120.66% -17.17% 8.24% -159.56% 100.76% -3,496.30% 43.26% 40.72%
EBIT Growth		 0.00% 37.00% -116.01% -18.90% 4.28% -149.10% 97.01% -808.50% 43.01% 41.01%
NOPAT Growth		 0.00% 35.61% -109.66% -21.99% 4.44% -145.91% 97.07% -719.01% 18.43% 65.39%
Net Income Growth		 0.00% 35.00% -103.55% -17.36% 6.22% -159.86% 95.97% -555.07% 42.65% 49.02%
EPS Growth		 0.00% 99.27% 50.46% 14.81% 39.13% -159.86% 97.42% -555.07% 54.98% 83.37%
Operating Cash Flow Growth		 0.00% -291.86% 1.53% 106.76% -3,081.78% 11.33% -2.41% 70.95% 71.90% -193.99%
Free Cash Flow Firm Growth		 0.00% 0.00% 11.26% 138.22% -742.76% 31.27% -7.22% 77.79% 90.40% -1,352.26%
Invested Capital Growth		 0.00% 91.74% 58.89% -6,312.79% 84.11% -427.88% 130.16% -65.09% -358.96% 103.14%
Revenue Q/Q Growth		 0.00% 0.00% 101.56% -87.28% -100.00% 97.60% 181.34% -100.00% 0.00% 0.00%
EBITDA Q/Q Growth		 0.00% 0.00% -8.20% -78.35% 15.09% -1.92% 101.46% -431.42% -176.91% 40.64%
EBIT Q/Q Growth		 0.00% 0.00% -8.04% -75.27% 13.04% -1.70% 94.48% -652.24% -141.60% 38.99%
NOPAT Q/Q Growth		 0.00% 0.00% -7.66% -74.38% 12.88% -1.61% 94.59% -320.49% -99.19% 55.63%
Net Income Q/Q Growth		 0.00% 0.00% -6.22% -79.65% 13.14% -1.81% 92.58% -669.69% -142.10% 46.41%
EPS Q/Q Growth		 0.00% 0.00% -101.75% -100.00% 15.15% -1.81% 92.01% -669.69% -125.12% 45.89%
Operating Cash Flow Q/Q Growth		 0.00% -124.37% -3.29% 106.59% -223.66% -6.06% 15.46% 38.41% -1.01% -3.66%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 148.54% -131.10% -8.05% -6.69% 64.95% 68.23% -11.11%
Invested Capital Q/Q Growth		 0.00% 0.00% 83.19% -4,509.19% 4.02% 6.52% 132.79% -38.06% -577.20% -92.84%
Profitability Metrics		 - - - - - - - - - -
Gross Margin		 100.00% 0.00% 100.00% 100.00% 0.00% 0.00% 100.00% 0.00% 100.00% 0.00%
EBITDA Margin		 -1,529.34% 0.00% -18,316.95% -1,954.09% 0.00% 0.00% 1.60% 0.00% -1,772.80% 0.00%
Operating Margin		 -1,560.04% 0.00% -18,490.68% -2,053.78% 0.00% 0.00% -6.35% 0.00% -2,446.40% 0.00%
EBIT Margin		 -1,565.35% 0.00% -18,701.69% -2,024.54% 0.00% 0.00% -6.49% 0.00% -1,937.60% 0.00%
Profit (Net Income) Margin		 -1,635.23% 0.00% -18,994.07% -2,029.55% 0.00% 0.00% -8.96% 0.00% -1,940.20% 0.00%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 108.81% 100.00% 100.08% 88.64%
Interest Burden Percent		 104.46% 107.78% 101.56% 100.25% 98.22% 102.46% 126.83% 99.51% 100.05% 97.64%
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)		 -692.03% -98.21% -109.53% -51.73% -34.68% -176.25% -19.74% -188.43% -197.92% -92.47%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -451.74% -148.77% 0.00% -4,932.83%
Operating Return on Assets (OROA)		 -78.82% 0.00% -76.44% -36.44% 0.00% 0.00% -4.24% 0.00% -72.74% 0.00%
Return on Assets (ROA)		 -82.33% 0.00% -77.63% -36.53% 0.00% 0.00% -5.86% 0.00% -72.84% 0.00%
Return on Common Equity (ROCE)		 11,359.20% 88.51% -109.53% -51.73% -34.68% -176.25% -19.74% -188.43% -197.92% -92.47%
Return on Equity Simple (ROE_SIMPLE)		 -692.03% -55.12% -106.97% -32.57% -40.11% -570.71% -17.30% -558.03% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -11 -7.28 -15 -19 -18 -44 -1.28 -10 -8.56 -2.96
NOPAT Margin		 -1,092.03% 0.00% -12,943.47% -1,437.65% 0.00% 0.00% -4.45% 0.00% -1,712.48% 0.00%
Net Nonoperating Expense Percent (NNEP)		 -40.32% -21.36% -33.78% -12.06% -8.01% -41.57% -6.37% -136.63% -17.09% -24.40%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - -346.33% -126.44% -75.47%
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		 341.60% 0.00% 6,625.42% 661.50% 0.00% 0.00% 37.78% 0.00% 1,089.80% 0.00%
R&D to Revenue		 1,318.44% 0.00% 11,965.25% 1,492.28% 0.00% 0.00% 68.57% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 1,660.04% 0.00% 18,590.68% 2,153.78% 0.00% 0.00% 106.35% 0.00% 2,546.40% 0.00%
Earnings before Interest and Taxes (EBIT)		 -16 -10 -22 -26 -25 -63 -1.87 -17 -9.69 -5.72
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -16 -9.80 -22 -25 -23 -60 0.46 -16 -8.86 -5.26
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 7.64 2.69 2.51 1.59 0.38 1.66 4.39 8.80
Price to Tangible Book Value (P/TBV)		 0.00 0.00 7.64 2.69 2.51 1.59 0.38 1.66 4.39 0.00
Price to Revenue (P/Rev)		 0.00 0.00 1,357.05 167.70 0.00 0.00 0.20 0.00 59.39 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
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% 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 1.90 0.00 171.11
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 1,176.18 86.05 0.00 0.00 0.00 0.00 34.38 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
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
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
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 84.68 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 18.43 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 2.32 0.24 0.24 0.06 0.27 0.61 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 1.82 0.24 0.24 0.00 0.27 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -5.70 -1.56 -1.03 -1.25 -1.20 -1.34 -1.56 -0.52 -1.36 -1.52
Leverage Ratio		 8.41 2.21 1.41 1.42 1.52 2.27 3.37 1.94 2.72 2.72
Compound Leverage Factor		 8.78 2.38 1.43 1.42 1.49 2.33 4.28 1.93 2.72 2.66
Debt to Total Capital		 69.83% 19.55% 19.03% 5.79% 21.24% 37.96% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 14.95% 0.00% 0.00% 5.79% 0.00% 37.96% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 54.89% 19.55% 19.03% 0.00% 21.24% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 525.32% 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%
Common Equity to Total Capital		 -495.16% 80.45% 80.97% 94.21% 78.76% 62.04% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 -0.36 -0.50 -0.23 -0.20 -0.71 -0.11 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.88 2.13 0.99 4.18 2.82 0.54 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 -0.28 -0.50 -0.23 0.00 -0.71 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 -0.50 -0.67 -0.32 -0.27 -0.93 -0.16 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 1.23 2.87 1.40 5.68 3.68 0.74 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 -0.39 -0.67 -0.32 0.00 -0.93 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 0.00 0.00 8.17 2.90 0.94 -6.48 -8.55 -27.46 -17.62 -19.59
Noncontrolling Interest Sharing Ratio		 1,741.42% 190.12% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Current Ratio		 1.65 8.24 13.54 3.63 6.29 1.28 6.13 0.81 4.45 1.19
Quick Ratio		 1.62 7.68 12.86 3.56 5.98 1.15 5.23 0.33 4.24 0.98
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -18 -16 6.05 -39 -27 -29 -6.37 -0.61 -8.88
Operating Cash Flow to CapEx		 -1,281.73% -2,137.04% -20,730.85% 121.72% -1,238.41% -3,597.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 -22.44 -23.56 7.70 -67.88 -15.81 -48.17 0.00 -33.97 -8,879.10
Operating Cash Flow to Interest Expense		 -6.98 -24.89 -29.00 1.68 -68.53 -20.59 -59.93 0.00 -161.67 -8,555.00
Operating Cash Flow Less CapEx to Interest Expense		 -7.52 -26.06 -29.14 0.30 -74.07 -21.16 -59.60 0.00 -161.67 -8,514.00
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.05 0.00 0.00 0.02 0.00 0.00 0.65 0.00 0.04 0.00
Accounts Receivable Turnover		 69.07 0.00 14.75 68.21 0.00 0.00 0.00 0.00 1.87 0.00
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		 2.06 0.00 0.10 0.82 0.00 0.00 8.93 0.00 12.50 0.00
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)		 5.28 0.00 24.75 5.35 0.00 0.00 0.00 0.00 195.64 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
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)		 5.28 0.00 24.75 5.35 0.00 0.00 0.00 0.00 195.64 0.00
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 -12 -0.95 -0.39 -25 -3.99 -21 6.35 2.22 -5.74 0.18
Invested Capital Turnover		 -0.09 0.00 -0.18 -0.10 0.00 0.00 -3.92 0.00 -0.28 0.00
Increase / (Decrease) in Invested Capital		 0.00 11 0.56 -25 21 -17 27 -4.13 -7.95 5.92
Enterprise Value (EV)		 0.00 0.00 139 112 89 -14 -2.87 4.20 17 31
Market Capitalization		 0.00 0.00 160 217 154 18 5.71 5.02 30 35
Book Value per Share		 ($354.28) $0.51 $0.47 $1.06 $0.71 $0.13 $3.01 $0.35 $3.12 $0.62
Tangible Book Value per Share		 ($354.28) $0.51 $0.47 $1.06 $0.71 $0.13 $3.01 $0.35 $3.12 ($0.67)
Total Capital		 8.12 25 26 86 78 18 15 3.03 6.77 3.93
Total Debt		 5.67 4.86 4.93 4.97 17 6.87 0.00 0.00 0.00 0.00
Total Long-Term Debt		 4.45 4.86 4.93 0.00 17 0.00 0.00 0.00 0.00 0.00
Net Debt		 -14 -21 -21 -106 -65 -32 -8.58 -0.82 -13 -3.75
Capital Expenditures (CapEx)		 0.39 0.93 0.09 1.08 3.17 0.97 -0.20 -0.92 0.00 -0.04
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -11 -1.48 -0.65 -24 -9.49 -23 -0.17 -1.30 -1.91 -3.01
Debt-free Net Working Capital (DFNWC)		 9.10 24 26 87 73 16 8.41 -0.49 11 0.74
Net Working Capital (NWC)		 7.88 24 26 82 73 9.60 8.41 -0.49 11 0.74
Net Nonoperating Expense (NNE)		 5.63 3.73 7.14 7.67 6.86 20 1.30 6.42 1.14 1.98
Net Nonoperating Obligations (NNO)		 -14 -21 -21 -106 -65 -32 -8.58 -0.82 -13 -3.75
Total Depreciation and Amortization (D&A)		 0.37 0.42 0.45 0.91 1.88 2.25 2.33 1.38 0.82 0.46
Debt-free, Cash-free Net Working Capital to Revenue		 -1,016.12% 0.00% -549.15% -1,862.04% 0.00% 0.00% -0.57% 0.00% -381.20% 0.00%
Debt-free Net Working Capital to Revenue		 877.99% 0.00% 21,711.86% 6,686.27% 0.00% 0.00% 29.18% 0.00% 2,120.40% 0.00%
Net Working Capital to Revenue		 760.91% 0.00% 21,711.86% 6,303.16% 0.00% 0.00% 29.18% 0.00% 2,120.40% 0.00%
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($35.70) $0.00 ($13.80) ($8.40) ($21.60) ($0.56) ($10.55) ($4.75) ($0.79)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 1.32M 0.00 2.91M 2.93M 2.95M 4.62M 1.60M 2.04M 6.30M
Adjusted Diluted Earnings per Share		 $0.00 ($35.70) $0.00 ($13.80) ($8.40) ($21.60) ($0.56) ($10.55) ($4.75) ($0.79)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 1.32M 0.00 2.91M 2.93M 2.95M 4.62M 1.60M 2.04M 6.30M
Adjusted Basic & Diluted Earnings per Share		 $0.00 ($35.70) $0.00 ($13.80) ($8.40) $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 337.32K 0.00 1.92M 2.91M 4.09M 8.37M 0.00 6.32M 6.37M
Normalized Net Operating Profit after Tax (NOPAT)		 -11 -7.28 -15 -19 -18 -44 -1.28 -9.84 -3.46 -2.90
Normalized NOPAT Margin		 -1,092.03% 0.00% -12,943.47% -1,437.65% 0.00% 0.00% -4.45% 0.00% -692.86% 0.00%
Pre Tax Income Margin		 -1,635.23% 0.00% -18,994.07% -2,029.55% 0.00% 0.00% -8.23% 0.00% -1,938.60% 0.00%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 -22.40 -12.85 -32.84 -33.38 -43.83 -37.00 -3.14 0.00 -538.22 -5,715.00
NOPAT to Interest Expense		 -15.63 -9.16 -22.73 -23.70 -31.07 -25.89 -2.15 0.00 -475.69 -2,963.10
EBIT Less CapEx to Interest Expense		 -22.94 -14.02 -32.98 -34.76 -49.36 -37.57 -2.82 0.00 -538.22 -5,674.00
NOPAT Less CapEx to Interest Expense		 -16.17 -10.33 -22.87 -25.08 -36.61 -26.47 -1.83 0.00 -475.69 -2,922.10
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		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for Exicure

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 25,944,921.00 25,944,921.00 25,944,921.00 8,651,148.00 8,651,204.00 2,172,323.00 6,317,771.00 6,317,793.00 6,317,793.00 6,373,869.00 6,373,915.00
DEI Adjusted Shares Outstanding		 5,188,984.00 5,188,984.00 5,188,984.00 1,730,230.00 1,730,241.00 2,172,323.00 6,317,771.00 6,317,793.00 6,317,793.00 6,373,869.00 6,373,915.00
DEI Earnings Per Adjusted Shares Outstanding		 -1.01 -0.29 -0.16 -0.35 -0.63 -3.31 0.48 -0.41 -0.39 -0.45 -0.29
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -100.00% 0.00% 0.00% 0.00% 0.00% 0.00% -100.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Growth		 -4.16% -106.83% 84.14% 92.55% 82.50% -435.28% 585.98% -535.66% -180.79% 51.67% -155.80%
EBIT Growth		 -1.31% -108.06% 81.15% 89.57% 79.67% -379.04% 456.22% -343.21% -132.56% 50.91% -161.38%
NOPAT Growth		 36.27% -105.70% 81.58% 78.11% 22.46% -406.61% 599.49% -103.16% 7.04% 69.93% -139.27%
Net Income Growth		 -1.86% -108.08% 81.19% 89.59% 79.24% -382.92% 463.09% -336.83% -123.37% 59.64% -160.73%
EPS Growth		 -1.86% -108.08% 81.19% 89.59% 81.25% -277.42% 202.08% -17.14% 31.58% 86.89% -159.18%
Operating Cash Flow Growth		 78.44% 88.79% 86.44% 75.76% 68.20% -3.55% -255.11% -95.71% -685.75% -35.74% 28.54%
Free Cash Flow Firm Growth		 -271.41% 134.25% 107.21% 107.97% 102.27% -14.37% 70.28% -127.94% -620.69% -384.74% -91.58%
Invested Capital Growth		 118.48% -65.09% -60.49% -61.17% -66.39% -358.96% -47.75% -51.80% 109.23% 103.14% -152.60%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% -100.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 8.22% 73.65% 51.19% 36.85% -115.46% -706.02% 144.31% -182.60% 4.83% -38.75% 48.84%
EBIT Q/Q Growth		 8.96% 71.59% 44.19% 27.75% -77.48% -569.40% 141.50% -189.89% 6.87% -41.32% 48.11%
NOPAT Q/Q Growth		 41.21% 54.84% 44.19% -47.73% -108.26% -195.06% 155.02% -159.56% 4.70% 4.56% 28.13%
Net Income Q/Q Growth		 8.81% 71.71% 44.25% 27.62% -81.83% -558.20% 141.92% -187.08% 7.02% -18.92% 36.92%
EPS Q/Q Growth		 8.81% 71.71% 44.25% 27.62% -62.86% -515.79% 113.96% -183.67% 4.88% -17.95% 36.96%
Operating Cash Flow Q/Q Growth		 70.65% 42.21% 44.85% -159.11% 61.49% -88.20% -89.11% -42.80% -54.60% 67.49% 0.44%
Free Cash Flow Firm Q/Q Growth		 16.82% 112.21% -27.54% 8.41% -76.30% 360.02% 44.09% -117.67% -341.62% -151.56% 104.26%
Invested Capital Q/Q Growth		 -33.41% -38.06% -16.88% 13.25% -42.35% -577.20% 116.77% 4.47% 150.25% -92.84% -381.11%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 0.00% 100.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Margin		 0.00% 0.00% -127.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Margin		 0.00% 0.00% -167.20% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBIT Margin		 0.00% 0.00% -167.20% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Profit (Net Income) Margin		 0.00% 0.00% -165.80% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.74% 100.00% 100.00% 100.00% 100.00% 82.05% 100.00%
Interest Burden Percent		 99.68% 99.27% 99.16% 99.34% 101.03% 100.07% 101.07% 97.91% 97.75% 100.26% 100.00%
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% -18.01% 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% -13.28% 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% 8.15% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 746.92% -188.43% -9.85% 0.00% 0.00% -197.92% -86.28% -150.50% -217.87% -92.47% -145.16%
Cash Return on Invested Capital (CROIC)		 -507.95% -148.77% -156.53% -41.19% -80.57% 0.00% -360.48% -370.53% -429.97% -4,932.83% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% -4.82% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Assets (ROA)		 0.00% 0.00% -4.78% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Common Equity (ROCE)		 746.92% -188.43% -9.85% 0.00% 0.00% -197.92% -86.28% -150.50% -217.87% -92.47% -145.16%
Return on Equity Simple (ROE_SIMPLE)		 66.01% 0.00% -604.26% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -2.32 -1.05 -0.59 -0.86 -1.80 -5.31 2.92 -1.76 -1.67 -1.60 -1.15
NOPAT Margin		 0.00% 0.00% -117.04% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 -35.42% -9.33% -4.72% 13.69% 112.16% -28.05% 1.61% -23.41% -32.11% -16.00% -10.44%
Return On Investment Capital (ROIC_SIMPLE)		 - -34.60% -26.52% -33.08% -116.53% -78.45% 25.68% -19.82% -24.07% -40.69% -54.72%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 267.20% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 0.00% 267.20% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 -5.27 -1.50 -0.84 -0.60 -1.07 -7.18 2.98 -2.68 -2.49 -3.52 -1.83
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -4.94 -1.30 -0.64 -0.40 -0.86 -6.96 3.09 -2.55 -2.43 -3.37 -1.72
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.38 1.66 2.36 1.72 3.89 4.39 7.40 5.02 3.73 8.80 12.93
Price to Tangible Book Value (P/TBV)		 1.38 1.66 2.36 1.72 3.89 4.39 19.79 25.58 0.00 0.00 0.00
Price to Revenue (P/Rev)		 0.29 0.00 10.40 5.54 12.01 59.39 0.00 0.00 0.00 0.00 0.00
Price to Earnings (P/E)		 2.10 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		 47.68% 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)		 1.48 1.90 2.63 1.55 4.71 0.00 76.78 36.44 8.52 171.11 0.00
Enterprise Value to Revenue (EV/Rev)		 0.24 0.00 9.67 6.48 11.32 34.38 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 1.13 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)		 1.72 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)		 1.11 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 0.62 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -20.84 -0.52 -0.61 -0.34 -0.21 -1.36 -0.79 -0.71 -0.56 -1.52 -0.97
Leverage Ratio		 52.69 1.94 2.06 2.50 3.90 2.72 2.31 2.81 3.06 2.72 2.48
Compound Leverage Factor		 52.52 1.93 2.04 2.48 3.94 2.72 2.33 2.75 2.99 2.73 2.48
Debt to Total Capital		 0.00% 0.00% 0.00% 38.27% 0.00% 0.00% 0.00% 0.00% 0.37% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 38.27% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.37% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 61.73% 100.00% 100.00% 100.00% 100.00% 99.63% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 -0.14 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 -0.06 0.00 0.00 0.00 0.00 0.50 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 -0.21 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 -0.10 0.00 0.00 0.00 0.00 0.66 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 -19.47 -23.04 -24.86 -25.13 -25.30 -17.07 -6.94 -12.37 -16.93 -19.08 -21.65
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		 1.39 0.81 0.55 0.61 0.71 4.45 2.91 1.89 1.96 1.19 0.79
Quick Ratio		 0.74 0.33 0.14 0.32 0.46 4.24 2.72 1.74 1.62 0.98 0.60
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -25 3.08 2.23 2.42 0.57 2.64 3.80 -0.68 -2.99 -7.51 0.32
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 47.80 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 -37.42 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 -37.42 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.04 0.00 0.03 0.04 0.04 0.04 0.00 0.00 0.00 0.00 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.49 1.87 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		 14.08 0.00 0.43 0.54 10.64 12.50 0.00 0.00 0.00 0.00 0.00
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 0.00 752.27 195.64 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 0.00 752.27 195.64 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 3.58 2.22 1.84 2.09 1.20 -5.74 0.96 1.01 2.52 0.18 -0.51
Invested Capital Turnover		 -2.76 0.00 0.15 0.13 0.21 -0.28 0.00 0.00 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 23 -4.13 -2.82 -3.29 -2.37 -7.95 -0.88 -1.08 1.31 5.92 -1.47
Enterprise Value (EV)		 5.30 4.20 4.84 3.24 5.66 17 74 37 21 31 25
Market Capitalization		 6.23 5.02 5.20 2.77 6.00 30 84 44 26 35 27
Book Value per Share		 $0.52 $0.35 $0.26 $0.19 $0.18 $3.12 $1.80 $1.40 $1.10 $0.62 $0.33
Tangible Book Value per Share		 $0.52 $0.35 $0.26 $0.19 $0.18 $3.12 $0.67 $0.28 ($0.03) ($0.67) ($0.95)
Total Capital		 4.50 3.03 2.21 2.61 1.55 6.77 11 8.86 6.95 3.93 2.10
Total Debt		 0.00 0.00 0.00 1.00 0.00 0.00 0.00 0.00 0.03 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.03 0.00 0.00
Net Debt		 -0.92 -0.82 -0.37 0.47 -0.34 -13 -10 -7.86 -4.41 -3.75 -2.60
Capital Expenditures (CapEx)		 0.00 -0.71 0.00 0.00 0.00 0.00 0.00 0.00 -0.11 -0.21 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -0.05 -1.30 -1.56 -0.88 -1.40 -1.91 -3.00 -3.78 -1.77 -3.01 -3.53
Debt-free Net Working Capital (DFNWC)		 0.87 -0.49 -1.20 -0.35 -1.06 11 7.42 4.08 2.67 0.74 -0.93
Net Working Capital (NWC)		 0.87 -0.49 -1.20 -1.35 -1.06 11 7.42 4.08 2.67 0.74 -0.93
Net Nonoperating Expense (NNE)		 2.93 0.44 0.24 -0.26 -0.71 1.87 -0.09 0.86 0.76 1.30 0.68
Net Nonoperating Obligations (NNO)		 -0.92 -0.82 -0.37 0.47 -0.34 -13 -10 -7.86 -4.41 -3.75 -2.60
Total Depreciation and Amortization (D&A)		 0.34 0.20 0.20 0.20 0.21 0.21 0.11 0.13 0.07 0.16 0.11
Debt-free, Cash-free Net Working Capital to Revenue		 -0.24% 0.00% -312.80% -176.00% -279.60% -381.20% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 3.99% 0.00% -239.60% -70.40% -211.00% 2,120.40% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Working Capital to Revenue		 3.99% 0.00% -239.60% -270.40% -211.00% 2,120.40% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($3.05) ($4.65) ($0.50) ($0.35) ($0.57) ($3.51) $0.49 ($0.41) ($0.39) ($0.46) ($0.29)
Adjusted Weighted Average Basic Shares Outstanding		 1.73M 320.56K 1.73M 1.73M 1.90M 2.04M 6.17M 6.32M 6.32M 6.30M 6.37M
Adjusted Diluted Earnings per Share		 ($3.05) ($4.65) ($0.50) ($0.35) ($0.57) ($3.51) $0.49 ($0.41) ($0.39) ($0.46) ($0.29)
Adjusted Weighted Average Diluted Shares Outstanding		 1.73M 320.56K 1.73M 1.73M 1.90M 2.04M 6.18M 6.32M 6.32M 6.30M 6.37M
Adjusted Basic & Diluted Earnings per Share		 $0.00 ($4.65) $0.00 $0.00 $0.00 ($3.51) $0.00 $0.00 $0.00 ($0.46) $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 1.73M 1.73M 2.17M 6.32M 6.32M 6.32M 6.37M 6.37M 6.37M
Normalized Net Operating Profit after Tax (NOPAT)		 -2.32 -1.05 -0.59 -0.86 -1.00 -5.02 2.06 -1.71 -1.67 -1.60 -1.12
Normalized NOPAT Margin		 0.00% 0.00% -117.04% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Pre Tax Income Margin		 0.00% 0.00% -165.80% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 -89.33 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 -150.03 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 -89.33 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 -150.03 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

Exicure (NASDAQ: XCUR) remains a cash-burning, pre-revenue biotech with a very different profile than it had a year ago. The latest quarterly filings show no revenue, continued operating losses, and a sharp decline in cash from the prior quarter. At the same time, the balance sheet has been transformed by large non-operating accounting changes, including a dramatic reduction in retained losses and a much higher equity base than in early 2024.

Recent operating trends are still weak. In Q1 2026, Exicure reported no revenue and a net loss of $1.8 million, or $0.29 per share. Operating expenses were $1.6 million, with SG&A making up the bulk of that total. That’s an improvement from Q4 2025, when the company lost $2.9 million, but the business is still operating far below break-even.

Cash usage remains the biggest issue. Exicure used $1.14 million in operating cash in Q1 2026 and finished the quarter with only $2.6 million in cash and equivalents, down from $4.4 million in the prior quarter. With no meaningful revenue stream, the company is still dependent on external financing or strategic transactions to fund operations.

There are some signs of operating expense moderation. Q1 2026 operating expenses of $1.64 million were lower than Q4 2025’s $2.28 million and well below the elevated expense levels seen in 2024. Research and development spending also fell sharply to $312,000 in Q1 2026 from $655,000 in Q4 2025, suggesting a leaner operating profile.

Balance sheet quality improved in one key sense, but liquidity weakened. Total common equity was $2.1 million at the end of Q1 2026, versus $6.9 million in Q3 2025 and $1.5 million in Q3 2024. However, current liabilities were still $4.46 million against only $3.53 million in current assets, so working capital remains tight.

One major caution: the company’s balance sheet includes a very large amount of noncurrent operating liabilities and intangible assets/goodwill from prior transactions. Exicure also shows negative retained earnings of $206.0 million, which reflects years of cumulative losses and highlights the long path back to financial health.

  • Operating expenses fell in Q1 2026 versus Q4 2025, indicating some cost control.
  • R&D spending dropped sharply to $312,000 from $655,000 in the prior quarter.
  • Equity remains positive at $2.1 million, avoiding immediate balance-sheet insolvency.
  • No revenue was reported in Q1 2026, so the company is still in a pre-commercial or non-commercial phase.
  • Cash and equivalents were $2.6 million at quarter-end, which provides only limited runway.
  • Goodwill and intangible assets remain on the books, which can be sensitive if future impairments occur.
  • Q1 2026 net loss was $1.8 million, continuing a pattern of recurring losses.
  • Operating cash burn was $1.14 million in the quarter.
  • Current liabilities exceeded current assets, signaling weak short-term liquidity.
  • Negative retained earnings of $206.0 million show the depth of accumulated losses over time.

Bottom line: Exicure’s latest quarter shows a company still struggling to build a sustainable operating model. Cost cuts are helping, but with no revenue and limited cash, the investment story still depends heavily on financing, asset sales, or a successful strategic pivot.

07/20/26 09:03 PM ETAI Generated. May Contain Errors.

Exicure Financials - Frequently Asked Questions

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

Exicure's net income appears to be on a downward trend, with a most recent value of -$4.95 million in 2025, falling from -$16.94 million in 2016. The previous period was -$9.70 million in 2024. View Exicure's forecast to see where analysts expect Exicure to go next.

Exicure's total operating income in 2025 was -$4.23 million, based on the following breakdown:
  • Total Gross Profit: $0.00
  • Total Operating Expenses: $4.23 million

Over the last 9 years, Exicure's total revenue changed from $1.04 million in 2016 to $0.00 in 2025, a change of -100.0%.

Exicure's total liabilities were at $10.12 million at the end of 2025, a 22.1% increase from 2024, and a 44.2% decrease since 2016.

In the past 9 years, Exicure's cash and equivalents has ranged from $816 thousand in 2023 to $48.46 million in 2019, and is currently $3.75 million as of their latest financial filing in 2025.

Over the last 9 years, Exicure's book value per share changed from -354.28 in 2016 to 0.62 in 2025, a change of -100.2%.


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Financial statements for NASDAQ:XCUR last updated on 7/16/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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