Alpha Cognition (ACOG) financial statements
Alpha Cognition reported revenue of $10M in fiscal 2025.
Net income was -$21M.
Free cash flow was -$21M.
The diluted share count rose 393% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Alpha Cognition's 10-K filings with the SEC.
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | — | — | $10M |
| Cost of revenue | — | — | $474,006 |
| Gross profit | — | — | $10M |
| Research and development | $5M | $4M | $2M |
| Selling, general and admin | $5M | $8M | $29M |
| Operating income | -$10M | -$12M | -$23M |
| Interest expense | $17,516 | $105,273 | — |
| Pre-tax income | — | -$621,897 | -$9M |
| Net income | -$14M | -$15M | -$21M |
| EPS (diluted) | -$3.84 | -$2.04 | -$1.18 |
| Diluted shares | 4M | 7M | 18M |
| Gross margin | — | — | 95.4% |
| Operating margin | — | — | -221.7% |
| Net margin | — | — | -202.2% |
Balance sheet
Fiscal years, from Alpha Cognition's 10-K filings with the SEC.
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Cash and short-term investments | $1M | $49M | $66M |
| Receivables | — | — | $4M |
| Inventory | — | $615,133 | $5M |
| Total current assets | $2M | $50M | $79M |
| Property, plant and equipment | $1,721 | $27,077 | $328,540 |
| Total assets | $2M | $51M | $80M |
| Total current liabilities | $3M | $3M | $9M |
| Total liabilities | $7M | $12M | $17M |
| Shareholders' equity | -$5M | $39M | $63M |
| Net debt | -$1M | -$49M | -$66M |
Cash flow
Fiscal years, from Alpha Cognition's 10-K filings with the SEC.
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating cash flow | -$9M | -$8M | -$20M |
| Capital spending | — | $26,701 | $293,489 |
| Free cash flow | — | -$8M | -$21M |
| Stock-based compensation | $2M | $1M | $5M |
| Free cash flow margin | — | — | -202.3% |
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Open ACOG in InvestinglyQuestions
What was Alpha Cognition's revenue in 2025?
$10M in fiscal 2025, from its 10-K filing.
How much free cash flow does Alpha Cognition generate?
-$21M in fiscal 2025 (operating cash flow minus capital spending).
From Alpha Cognition's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.