Alector (ALEC) financial statements
Alector reported revenue of $21M in fiscal 2025, up 28.3% a year over 8 years.
Net income was -$143M and the operating margin -741.3%, against -1137.8% in 2017.
Free cash flow was -$184M.
The diluted share count rose 1027% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Alector's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3M | $28M | $21M | $21M | $207M | $134M | $97M | $101M | $21M |
| Research and development | $30M | $73M | $101M | $157M | $189M | $210M | $192M | $186M | $123M |
| Selling, general and admin | $7M | $12M | $35M | $59M | $55M | $61M | $57M | $60M | $54M |
| Operating income | -$33M | -$57M | -$114M | -$195M | -$37M | -$138M | -$152M | -$145M | -$156M |
| Pre-tax income | — | — | — | -$190M | -$36M | -$130M | -$125M | -$119M | -$143M |
| Income tax | — | — | $0 | $0 | $0 | $3M | $5M | $128,000 | $168,000 |
| Net income | -$32M | -$52M | -$105M | -$190M | -$36M | -$133M | -$130M | -$119M | -$143M |
| EPS (diluted) | -$3.55 | -$4.62 | -$1.71 | -$2.45 | -$0.45 | -$1.62 | -$1.56 | -$1.23 | -$1.39 |
| Diluted shares | 9M | 11M | 62M | 78M | 80M | 82M | 84M | 97M | 103M |
| Operating margin | -1137.8% | -208.3% | -539.2% | -925.1% | -18.0% | -103.2% | -156.3% | -144.2% | -741.3% |
| Net margin | -1130.9% | -189.9% | -496.7% | -901.6% | -17.5% | -99.8% | -134.3% | -118.4% | -679.2% |
Balance sheet
Fiscal years, from Alector's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $32M | $290M | $353M | $413M | $735M | $713M | $549M | $413M | $256M |
| Total current assets | — | $293M | $357M | $422M | $750M | $726M | $566M | $425M | $266M |
| Property, plant and equipment | — | $11M | $34M | $30M | $27M | $26M | $22M | $17M | $11M |
| Total assets | — | $308M | $422M | $488M | $815M | $788M | $622M | $468M | $293M |
| Total current liabilities | — | $48M | $62M | $68M | $140M | $94M | $178M | $125M | $70M |
| Long-term debt | — | — | — | — | — | — | $0 | $9M | $9M |
| Total liabilities | — | $195M | $227M | $221M | $514M | $573M | $488M | $342M | $263M |
| Shareholders' equity | -$52M | -$97M | $195M | $268M | $301M | $214M | $134M | $127M | $31M |
| Net debt | -$32M | -$65M | -$90M | -$50M | -$329M | -$154M | -$75M | -$24M | -$56M |
Cash flow
Fiscal years, from Alector's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$18M | $127M | -$99M | -$167M | $299M | -$20M | -$184M | -$230M | -$184M |
| Capital spending | $801,000 | $2M | $15M | $5M | $3M | $4M | $2M | $1M | $41,000 |
| Free cash flow | -$19M | $126M | -$115M | -$172M | $295M | -$24M | -$187M | -$231M | -$184M |
| Stock-based compensation | $5M | $7M | $16M | $31M | $41M | $46M | $43M | $39M | $27M |
| Free cash flow margin | -646.7% | 456.5% | -540.0% | -814.1% | 142.6% | -18.3% | -192.2% | -229.9% | -874.7% |
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Open ALEC in InvestinglyQuestions
What was Alector's revenue in 2025?
$21M in fiscal 2025, from its 10-K filing.
How much free cash flow does Alector generate?
-$184M in fiscal 2025 (operating cash flow minus capital spending).
From Alector's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.