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Alto Neuroscience (ANRO) Financials

Alto Neuroscience logo
$21.08 -0.14 (-0.66%)
Closing price 05/26/2026 03:58 PM Eastern
Extended Trading
$21.06 -0.02 (-0.12%)
As of 05:36 AM Eastern
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Annual Income Statements for Alto Neuroscience

Annual Income Statements for Alto Neuroscience

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

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -36 -61 -63
Consolidated Net Income / (Loss)		 -36 -61 -63
Net Income / (Loss) Continuing Operations		 -36 -61 -63
Total Pre-Tax Income 		-36 -61 -63
Total Operating Income		 -38 -69 -66
Total Gross Profit		 0.00 0.00 0.00
Total Revenue		 0.00 0.00 0.00
Total Cost of Revenue		 0.00 0.00 0.00
Total Operating Expenses		 38 69 66
Selling, General & Admin Expense		 7.52 22 21
Research & Development Expense		 30 47 46
Total Other Income / (Expense), net		 1.50 7.18 3.13
Interest Expense		 1.37 1.38 3.15
Interest & Investment Income		 2.35 8.85 6.60
Other Income / (Expense), net		 0.53 -0.30 -0.33
Basic Earnings per Share		 ($9.73) ($2.50) ($2.19)
Weighted Average Basic Shares Outstanding		 3.73M 24.60M 28.85M
Diluted Earnings per Share		 ($9.73) ($2.50) ($2.19)
Weighted Average Diluted Shares Outstanding		 3.73M 24.60M 28.85M
Weighted Average Basic & Diluted Shares Outstanding		 - 27.07M 31.95M

Quarterly Income Statements for Alto Neuroscience

This table shows Alto Neuroscience'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		 -9.14 -11 -13 -16 -17 -15 -15 -18 -14 -16 -26
Consolidated Net Income / (Loss)		 -9.14 -11 -13 -16 -17 -15 -15 -18 -14 -16 -26
Net Income / (Loss) Continuing Operations		 -9.14 -11 -13 -16 -17 -15 -15 -18 -14 -16 -26
Total Pre-Tax Income 		-9.14 -11 -13 -16 -17 -15 -15 -18 -14 -16 -26
Total Operating Income		 -9.72 -12 -14 -18 -19 -17 -16 -19 -15 -17 -27
Total Gross Profit		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Revenue		 0.00 - 0.00 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		 9.72 12 14 18 19 17 16 19 15 17 27
Selling, General & Admin Expense		 1.75 2.12 4.43 5.16 5.83 6.20 5.70 5.56 4.43 5.06 6.84
Research & Development Expense		 7.97 9.64 9.95 13 13 11 9.97 13 11 12 20
Total Other Income / (Expense), net		 0.58 0.55 0.97 2.31 2.10 1.80 0.51 0.98 0.77 0.87 0.90
Interest Expense		 0.36 0.36 0.35 0.35 0.35 0.33 1.28 0.65 0.65 0.58 0.55
Interest & Investment Income		 0.71 0.74 1.56 2.66 2.50 2.14 1.83 1.68 1.53 1.56 1.56
Other Income / (Expense), net		 0.23 0.17 -0.24 0.00 -0.05 -0.01 -0.04 -0.06 -0.11 -0.11 -0.12
Basic Earnings per Share		 ($2.44) ($2.99) ($0.76) ($0.60) ($0.62) ($0.52) ($0.56) ($0.65) ($0.52) ($0.46) ($0.80)
Weighted Average Basic Shares Outstanding		 3.74M 3.73M 17.60M 26.91M 26.96M 24.60M 27.05M 27.07M 27.10M 28.85M 32.89M
Diluted Earnings per Share		 ($2.44) ($2.99) ($0.76) ($0.60) ($0.62) ($0.52) ($0.56) ($0.65) ($0.52) ($0.46) ($0.80)
Weighted Average Diluted Shares Outstanding		 3.74M 3.73M 17.60M 26.91M 26.96M 24.60M 27.05M 27.07M 27.10M 28.85M 32.89M
Weighted Average Basic & Diluted Shares Outstanding		 - 0.00 26.88M 26.96M 26.97M 27.07M 27.07M 27.08M 31.07M 31.95M 35.09M

Annual Cash Flow Statements for Alto Neuroscience

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

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 34 86 8.29
Net Cash From Operating Activities		 -33 -47 -52
Net Cash From Continuing Operating Activities		 -33 -48 -52
Net Income / (Loss) Continuing Operations		 -36 -61 -63
Consolidated Net Income / (Loss)		 -36 -61 -63
Depreciation Expense		 0.37 0.50 0.66
Non-Cash Adjustments To Reconcile Net Income		 2.90 8.37 11
Changes in Operating Assets and Liabilities, net		 -0.70 4.06 0.03
Net Cash From Investing Activities		 -0.47 -2.08 -0.02
Net Cash From Continuing Investing Activities		 -0.47 -2.08 -0.02
Purchase of Property, Plant & Equipment		 -0.47 -2.08 -0.02
Net Cash From Financing Activities		 68 136 60
Net Cash From Continuing Financing Activities		 68 136 60
Repayment of Debt		 - 0.00 -10
Repurchase of Common Equity		 -2.05 -3.33 0.00
Issuance of Debt		 0.00 1.25 20
Issuance of Common Equity		 0.00 138 0.00
Other Financing Activities, net		 0.18 0.19 50
Cash Interest Paid		 0.91 1.00 1.66

Quarterly Cash Flow Statements for Alto Neuroscience

This table details how cash moves in and out of Alto Neuroscience'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		 -7.74 31 123 -12 -11 -13 -7.48 -13 -9.77 39 87
Net Cash From Operating Activities		 -7.77 -12 -11 -12 -12 -13 -17 -14 -9.92 -12 -27
Net Cash From Continuing Operating Activities		 -7.77 -12 -11 -13 -11 -14 -17 -14 -9.67 -11 -27
Net Income / (Loss) Continuing Operations		 -9.14 -11 -13 -16 -17 -15 -15 -18 -14 -16 -26
Consolidated Net Income / (Loss)		 -9.14 -11 -13 -16 -17 -15 -15 -18 -14 -16 -26
Depreciation Expense		 0.06 0.11 0.10 0.11 0.12 0.17 0.17 0.17 0.16 0.16 0.18
Amortization Expense		 0.07 0.07 0.07 0.05 - - - - - - 0.20
Non-Cash Adjustments To Reconcile Net Income		 0.41 0.67 2.52 1.76 3.25 0.84 3.10 1.98 2.48 3.22 3.16
Changes in Operating Assets and Liabilities, net		 0.83 -1.16 -0.26 1.43 2.79 0.10 -4.66 1.30 1.30 2.10 -4.39
Net Cash From Investing Activities		 -0.04 -0.35 -0.22 -0.34 -1.01 -0.51 -0.02 - - - -0.56
Net Cash From Continuing Investing Activities		 -0.04 -0.35 -0.22 -0.34 -1.01 -0.51 -0.02 - - - -0.56
Purchase of Property, Plant & Equipment		 -0.04 -0.35 -0.22 -0.34 -1.01 -0.51 -0.02 - - - -0.56
Net Cash From Financing Activities		 0.05 43 135 -0.23 1.32 0.05 9.13 0.61 0.15 50 115
Net Cash From Continuing Financing Activities		 0.05 43 135 -0.23 1.32 0.05 9.13 1.17 -0.40 50 115
Repayment of Debt		 - - 0.00 - - - -10 - - - 0.00
Issuance of Debt		 - - 0.00 - 1.25 - 20 0.75 - - 0.00
Other Financing Activities, net		 0.11 0.03 0.01 0.06 0.07 0.05 -0.22 0.42 -0.40 50 115
Effect of Exchange Rate Changes		 0.02 0.00 -0.01 -0.01 - - -0.02 - - - -0.02
Cash Interest Paid		 0.25 0.25 0.25 0.25 0.25 0.25 0.31 0.46 0.47 0.43 0.34

Annual Balance Sheets for Alto Neuroscience

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

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Total Assets		 87 178 185
Total Current Assets		 85 169 178
Cash & Equivalents		 83 168 176
Prepaid Expenses		 2.84 1.11 1.23
Plant, Property, & Equipment, net		 1.11 2.67 1.87
Total Noncurrent Assets		 0.13 5.54 5.10
Other Noncurrent Operating Assets		 0.13 5.54 5.10
Total Liabilities & Shareholders' Equity		 87 178 185
Total Liabilities		 17 26 34
Total Current Liabilities		 5.61 10 11
Short-Term Debt		 - 0.00 0.59
Accounts Payable		 1.07 1.58 1.88
Accrued Expenses		 4.54 8.43 8.86
Total Noncurrent Liabilities		 11 16 22
Long-Term Debt		 9.86 10 16
Other Noncurrent Operating Liabilities		 1.35 5.82 6.05
Commitments & Contingencies		 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -72 151 151
Total Preferred & Common Equity		 -72 151 151
Total Common Equity		 -72 151 151
Common Stock		 5.37 290 353
Retained Earnings		 -77 -138 -202
Accumulated Other Comprehensive Income / (Loss)		 -0.08 -0.10 0.02

Quarterly Balance Sheets for Alto Neuroscience

This table presents Alto Neuroscience'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
Period end date 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 210 197 192 172 158 147 276
Total Current Assets		 208 195 184 164 150 139 269
Cash & Equivalents		 206 193 182 161 148 138 264
Prepaid Expenses		 2.42 2.29 1.83 2.77 2.26 1.63 5.36
Plant, Property, & Equipment, net		 1.55 1.44 2.35 2.48 2.31 2.03 2.23
Total Noncurrent Assets		 0.06 0.50 5.73 5.92 5.72 5.53 4.90
Other Noncurrent Operating Assets		 0.06 0.50 5.73 5.92 5.72 5.53 4.90
Total Liabilities & Shareholders' Equity		 210 197 192 172 158 147 276
Total Liabilities		 17 18 27 33 34 35 33
Total Current Liabilities		 8.01 9.84 14 7.26 8.13 9.05 13
Short-Term Debt		 1.15 2.32 3.53 - - - 2.14
Accounts Payable		 2.41 1.84 2.25 1.38 1.67 2.06 3.37
Accrued Expenses		 4.45 5.68 8.23 5.87 6.46 6.99 7.61
Total Noncurrent Liabilities		 8.81 7.74 13 26 26 26 20
Long-Term Debt		 8.81 7.74 6.63 20 20 20 14
Other Noncurrent Operating Liabilities		 0.00 0.00 5.91 5.62 6.21 6.09 5.89
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 193 180 165 139 123 112 243
Total Preferred & Common Equity		 193 180 165 139 123 112 243
Total Common Equity		 193 180 165 139 123 112 243
Common Stock		 284 286 288 293 295 297 471
Retained Earnings		 -90 -106 -123 -154 -171 -185 -228
Accumulated Other Comprehensive Income / (Loss)		 -0.08 -0.09 -0.10 0.01 0.03 0.01 0.01

Annual Metrics And Ratios for Alto Neuroscience

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

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 26,970,168.00 31,066,335.00
DEI Adjusted Shares Outstanding		 0.00 26,970,168.00 31,066,335.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 -2.28 -2.04
Growth Metrics		 - - -
Profitability Metrics		 - - -
Net Operating Profit after Tax (NOPAT)		 -26 -48 -46
Return On Investment Capital (ROIC_SIMPLE)		 42.82% -29.70% -27.67%
Earnings before Interest and Taxes (EBIT)		 -37 -69 -67
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -37 -68 -66
Valuation Ratios		 - - -
Leverage & Solvency		 - - -
Liquidity Ratios		 - - -
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 0.00 -44 -44
Efficiency Ratios		 - - -
Capital & Investment Metrics		 - - -
Invested Capital		 -2.88 -6.52 -8.59
Increase / (Decrease) in Invested Capital		 0.00 -3.63 -2.07
Book Value per Share		 ($19.21) $5.62 $4.87
Tangible Book Value per Share		 ($19.21) $5.62 $4.87
Total Capital		 80 162 168
Total Debt		 9.86 10 17
Total Long-Term Debt		 9.86 10 16
Net Debt		 -73 -158 -160
Capital Expenditures (CapEx)		 0.47 2.08 0.02
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -2.77 -8.90 -9.51
Debt-free Net Working Capital (DFNWC)		 80 159 167
Net Working Capital (NWC)		 80 159 166
Net Nonoperating Expense (NNE)		 9.84 13 17
Net Nonoperating Obligations (NNO)		 -73 -158 -160
Total Depreciation and Amortization (D&A)		 0.65 0.84 0.66
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 $0.00 ($2.50) ($2.19)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 24.60M 28.85M
Adjusted Diluted Earnings per Share		 $0.00 ($2.50) ($2.19)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 24.60M 28.85M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 27.07M 31.95M
Normalized Net Operating Profit after Tax (NOPAT)		 -26 -48 -46
Debt Service Ratios		 - - -
Payout Ratios		 - - -

Quarterly Metrics And Ratios for Alto Neuroscience

This table displays calculated financial ratios and metrics derived from Alto Neuroscience'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		 0.00 0.00 0.00 26,883,990.00 26,958,973.00 26,970,168.00 27,072,129.00 27,072,129.00 27,076,629.00 31,066,335.00 31,945,516.00
DEI Adjusted Shares Outstanding		 0.00 0.00 0.00 26,883,990.00 26,958,973.00 26,970,168.00 27,072,129.00 27,072,129.00 27,076,629.00 31,066,335.00 31,945,516.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 0.00 0.00 -0.60 -0.62 -0.56 -0.56 -0.65 -0.52 -0.52 -0.82
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
EBITDA Growth		 0.00% 0.00% -103.55% -104.41% -100.90% -45.60% -7.51% -2.20% 20.80% - -72.84%
EBIT Growth		 0.00% 0.00% -103.46% -103.72% -99.47% -46.59% -7.44% -2.19% 20.44% - -73.40%
NOPAT Growth		 0.00% 0.00% -99.78% -101.00% -94.34% -44.47% -8.97% -1.86% 20.84% - -73.12%
Net Income Growth		 0.00% 0.00% -84.20% -85.04% -83.60% -35.52% -13.06% -10.46% 15.50% - -72.96%
EPS Growth		 0.00% 0.00% 61.42% 74.25% 74.59% 82.61% 26.32% -8.33% 16.13% - -42.86%
Operating Cash Flow Growth		 0.00% 0.00% -45.97% -76.25% -51.01% -12.99% -50.74% -17.83% 15.42% - -63.63%
Free Cash Flow Firm Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -66.99% -28.94% -63.72% - -35.21%
Invested Capital Growth		 0.00% 0.00% 0.00% 0.00% 0.00% -126.06% 39.34% -23.21% 8.44% - -154.48%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
EBITDA Q/Q Growth		 -5.32% -21.91% -26.66% -25.68% -3.51% 11.64% 6.47% -19.48% 19.79% - -57.95%
EBIT Q/Q Growth		 -5.43% -22.20% -26.12% -25.37% -3.23% 10.20% 7.56% -19.25% 19.63% - -58.74%
NOPAT Q/Q Growth		 -6.50% -21.06% -22.28% -27.49% -2.97% 10.00% 7.77% -19.18% 19.97% - -59.12%
Net Income Q/Q Growth		 -5.52% -22.71% -19.61% -19.48% -4.70% 9.43% 0.21% -16.72% 19.91% - -62.14%
EPS Q/Q Growth		 -4.72% -22.54% 74.58% 21.05% -3.33% 16.13% -7.69% -16.07% 20.00% - -73.91%
Operating Cash Flow Q/Q Growth		 -17.03% -48.41% 4.69% -6.47% -0.27% -11.04% -27.15% 16.77% 28.02% - -135.25%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% -31.95% 29.56% -22.86% -46.25% -1.88% 10.56% - -65.60%
Invested Capital Q/Q Growth		 0.00% 0.00% 1.73% -16.10% -97.48% -0.34% 73.63% -135.80% -46.75% - 49.07%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
EBITDA Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Operating Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
EBIT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Profit (Net Income) Margin		 0.00% 0.00% 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% 100.00% 100.00% 100.00% 100.00% 100.00% - 100.00%
Interest Burden Percent		 96.30% 96.71% 91.72% 87.40% 88.64% 89.40% 96.51% 94.47% 94.14% - 96.27%
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)		 0.00% -52.01% -21.98% -27.70% -34.81% -55.53% -38.04% -42.78% -45.01% - -38.86%
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% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Return on Common Equity (ROCE)		 0.00% 53.40% -21.98% -27.70% -34.81% -20.02% -38.04% -42.78% -45.01% - -38.86%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% -21.98% 0.00% 0.00% 0.00% -45.42% 0.00% 0.00% - 0.00%
Net Operating Profit after Tax (NOPAT)		 -6.80 -8.24 -10 -13 -13 -12 -11 -13 -10 -12 -19
NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Net Nonoperating Expense Percent (NNEP)		 0.00% -4.10% -3.42% -3.49% -4.15% -2.86% -2.49% -2.98% -2.57% - -3.73%
Return On Investment Capital (ROIC_SIMPLE)		 - 13.32% -4.96% -6.76% -7.55% -7.36% -6.90% -9.11% -7.94% -7.11% -7.32%
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% 0.00% 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%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Earnings before Interest and Taxes (EBIT)		 -9.49 -12 -15 -18 -19 -17 -16 -19 -15 -17 -27
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -9.36 -11 -14 -18 -19 -17 -16 -19 -15 -17 -27
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.64 1.60 1.87 0.75 0.42 0.48 0.98 - 2.95
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.64 1.60 1.87 0.75 0.42 0.48 0.98 - 2.95
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 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
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 0.00 0.00 - 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
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 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
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.14 0.05 0.06 0.06 0.07 0.14 0.16 0.18 - 0.07
Long-Term Debt to Equity		 0.00 0.14 0.05 0.04 0.04 0.07 0.14 0.16 0.18 - 0.06
Financial Leverage		 0.00 -1.04 -1.01 -1.02 -1.04 -1.04 -1.01 -1.02 -1.05 - -1.02
Leverage Ratio		 0.00 1.24 1.09 1.10 1.16 1.19 1.15 1.17 1.22 - 1.17
Compound Leverage Factor		 0.00 1.20 1.00 0.96 1.03 1.07 1.11 1.11 1.15 - 1.13
Debt to Total Capital		 0.00% 12.38% 4.90% 5.30% 5.80% 6.34% 12.54% 14.02% 15.40% - 6.18%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.56% 1.22% 2.01% 0.00% 0.00% 0.00% 0.00% - 0.82%
Long-Term Debt to Total Capital		 0.00% 12.38% 4.34% 4.08% 3.78% 6.34% 12.54% 14.02% 15.40% - 5.35%
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% 177.59% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Common Equity to Total Capital		 0.00% -89.97% 95.10% 94.70% 94.20% 93.66% 87.46% 85.98% 84.60% - 93.82%
Debt to EBITDA		 0.00 -0.27 -0.22 -0.19 -0.16 -0.15 -0.29 -0.29 -0.31 - -0.21
Net Debt to EBITDA		 0.00 1.98 4.42 3.43 2.72 2.32 2.03 1.83 1.78 - 3.19
Long-Term Debt to EBITDA		 0.00 -0.27 -0.20 -0.14 -0.11 -0.15 -0.29 -0.29 -0.31 - -0.18
Debt to NOPAT		 0.00 -0.37 -0.32 -0.27 -0.23 -0.21 -0.41 -0.41 -0.44 - -0.29
Net Debt to NOPAT		 0.00 2.75 6.22 4.82 3.87 3.29 2.88 2.59 2.53 - 4.55
Long-Term Debt to NOPAT		 0.00 -0.37 -0.28 -0.20 -0.15 -0.21 -0.41 -0.41 -0.44 - -0.25
Altman Z-Score		 0.00 4.01 4.72 9.87 6.80 2.29 0.61 0.20 0.80 - 12.73
Noncontrolling Interest Sharing Ratio		 0.00% 202.67% 0.00% 0.00% 0.00% 63.94% 0.00% 0.00% 0.00% - 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.00 15.22 26.02 19.85 13.10 16.92 22.53 18.43 15.42 - 20.52
Quick Ratio		 0.00 14.71 25.72 19.62 12.96 16.81 22.15 18.16 15.24 - 20.11
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 0.00 -7.24 -9.55 -6.73 -8.26 -12 -12 -11 -9.87 -16
Operating Cash Flow to CapEx		 -18,058.14% -3,273.86% -4,903.13% -3,439.41% -1,166.77% -2,573.32% -68,983.33% 0.00% 0.00% - -4,872.48%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 -20.92 -27.52 -19.28 -24.82 -9.45 -19.06 -16.94 - -29.99
Operating Cash Flow to Interest Expense		 -21.39 -32.37 -31.74 -33.70 -33.60 -39.10 -12.94 -21.33 -15.26 - -49.71
Operating Cash Flow Less CapEx to Interest Expense		 -21.51 -33.36 -32.39 -34.68 -36.48 -40.62 -12.96 -21.33 -15.26 - -50.73
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 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
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
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)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 0.00 -2.88 -2.83 -3.29 -6.49 -6.52 -1.72 -4.05 -5.95 -8.59 -4.37
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Increase / (Decrease) in Invested Capital		 0.00 0.00 -2.83 -3.29 -6.49 -3.63 1.11 -0.76 0.55 -2.07 -2.65
Enterprise Value (EV)		 0.00 197 -73 104 137 -44 -82 -68 -8.65 - 470
Market Capitalization		 129 129 123 287 308 114 58 60 109 - 718
Book Value per Share		 $0.00 ($19.21) $10.97 $6.69 $6.12 $5.62 $5.14 $4.56 $4.12 $4.87 $7.62
Tangible Book Value per Share		 $0.00 ($19.21) $10.97 $6.69 $6.12 $5.62 $5.14 $4.56 $4.12 $4.87 $7.62
Total Capital		 0.00 80 203 190 175 162 159 144 132 168 259
Total Debt		 0.00 9.86 9.96 10 10 10 20 20 20 17 16
Total Long-Term Debt		 0.00 9.86 8.81 7.74 6.63 10 20 20 20 16 14
Net Debt		 0.00 -73 -196 -183 -172 -158 -141 -127 -118 -160 -248
Capital Expenditures (CapEx)		 0.04 0.35 0.22 0.34 1.01 0.51 0.02 0.00 0.00 0.00 0.56
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 -2.77 -4.44 -5.23 -8.66 -8.90 -4.49 -5.87 -7.41 -9.51 -5.62
Debt-free Net Working Capital (DFNWC)		 0.00 80 201 188 173 159 156 142 130 167 258
Net Working Capital (NWC)		 0.00 80 200 186 170 159 156 142 130 166 256
Net Nonoperating Expense (NNE)		 2.34 2.98 3.35 3.19 3.56 3.30 4.20 4.63 3.72 4.24 7.24
Net Nonoperating Obligations (NNO)		 0.00 -73 -196 -183 -172 -158 -141 -127 -118 -160 -248
Total Depreciation and Amortization (D&A)		 0.13 0.18 0.17 0.17 0.12 0.17 0.17 0.17 0.16 0.16 0.38
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($2.99) ($0.76) ($0.60) ($0.62) ($0.52) ($0.56) ($0.65) ($0.52) ($0.46) ($0.80)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 3.73M 17.60M 26.91M 26.96M 24.60M 27.05M 27.07M 27.10M 28.85M 32.89M
Adjusted Diluted Earnings per Share		 $0.00 ($2.99) ($0.76) ($0.60) ($0.62) ($0.52) ($0.56) ($0.65) ($0.52) ($0.46) ($0.80)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 3.73M 17.60M 26.91M 26.96M 24.60M 27.05M 27.07M 27.10M 28.85M 32.89M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 26.88M 26.96M 26.97M 27.07M 27.07M 27.08M 31.07M 31.95M 35.09M
Normalized Net Operating Profit after Tax (NOPAT)		 -6.80 -8.24 -10 -13 -13 -12 -11 -13 -10 -12 -19
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -26.15 -32.58 -42.28 -52.86 -54.25 -51.06 -12.29 -29.01 -23.17 - -50.01
NOPAT to Interest Expense		 -18.74 -23.13 -29.10 -37.00 -37.88 -35.73 -8.58 -20.24 -16.10 - -34.86
EBIT Less CapEx to Interest Expense		 -26.27 -33.57 -42.93 -53.84 -57.13 -52.58 -12.31 -29.01 -23.17 - -51.03
NOPAT Less CapEx to Interest Expense		 -18.86 -24.12 -29.75 -37.98 -40.76 -37.25 -8.60 -20.24 -16.10 - -35.88
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% -5.65% -11.97% -10.61% -9.09% -5.41% -0.47% 0.00% 0.00% - 0.00%

Financials Breakdown Chart

Key Financial Trends

Alto Neuroscience (ANRO) shows a pre-revenue biotech profile with ongoing heavy R&D investment. The company has built liquidity primarily through financing activities in 2025, but continues to incur quarterly net losses and utilizes financing to fund operations.

  • Net cash from financing activities in Q4 2025 was about +$50.2 million, boosting liquidity.
  • Across 2025 quarters, cash balances remained strong (Q1 around $160.8m, Q2 about $147.6m, Q3 about $137.8m), providing a liquidity runway for continued development.
  • Q1 2025 featured a large equity issuance, adding about $137.6 million in cash and expanding the balance sheet.
  • Total revenue was $0 in Q4 2025, consistent with a pre-revenue development stage.
  • R&D spending remains a dominant cost driver, reflecting ongoing product development efforts typical of a biotech startup.
  • Net income (loss) across 2025 quarters were all negative: Q1 -$15.17m, Q2 -$17.71m, Q3 -$14.18m, Q4 -$16.18m.
  • Operating cash flow from continuing activities was negative in each 2025 quarter: Q1 -$16.56m, Q2 -$14.27m, Q3 -$9.67m, Q4 -$11.28m.
  • Total Common Equity declined through 2025 (about $139.1m in Q1 2025 to about $111.6m in Q3 2025), signaling dilution risk if earnings don’t improve.
  • There is a continued reliance on financing to fund operations, indicating ongoing fundraising needs and potential dilution for shareholders.
05/27/26 07:00 AM ETAI Generated. May Contain Errors.

Alto Neuroscience Financials - Frequently Asked Questions

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

Alto Neuroscience's net income appears to be on an upward trend, with a most recent value of -$63.24 million in 2025, rising from -$36.31 million in 2023. The previous period was -$61.43 million in 2024. Check out Alto Neuroscience's forecast to explore projected trends and price targets.

Alto Neuroscience's total operating income in 2025 was -$66.36 million, based on the following breakdown:
  • Total Gross Profit: $0.00
  • Total Operating Expenses: $66.36 million

Over the last 2 years, Alto Neuroscience's total revenue changed from $0.00 in 2023 to $0.00 in 2025, a change of 0.0%.

Alto Neuroscience's total liabilities were at $33.55 million at the end of 2025, a 28.6% increase from 2024, and a 99.4% increase since 2023.

In the past 2 years, Alto Neuroscience's cash and equivalents has ranged from $82.55 million in 2023 to $176.48 million in 2025, and is currently $176.48 million as of their latest financial filing in 2025.

Over the last 2 years, Alto Neuroscience's book value per share changed from -19.21 in 2023 to 4.87 in 2025, a change of -125.3%.


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Financial statements for NYSE:ANRO last updated on 5/14/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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