Altimmune (ALT) financial statements
Altimmune reported revenue of $41,000 in fiscal 2025, down 38.5% a year over 9 years.
Net income was -$88M and the operating margin -230461.0%, against -342.7% in 2016.
Free cash flow was -$68M.
The diluted share count rose 34% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Altimmune's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3M | $11M | $10M | $6M | $8M | $4M | -$68,000 | $426,000 | $20,000 | $41,000 |
| Research and development | $7M | $18M | $18M | $18M | $50M | $75M | $71M | $66M | $82M | $66M |
| Selling, general and admin | $7M | $8M | $10M | $9M | $13M | $15M | $17M | $18M | $21M | $28M |
| Operating income | -$11M | -$52M | -$43M | -$21M | -$55M | -$97M | -$88M | -$96M | -$103M | -$94M |
| Interest expense | $38,499 | $162,139 | $297,090 | $2,244 | $9,421 | $5,000 | $8,000 | $35,000 | $9,000 | $2M |
| Pre-tax income | -$11M | -$52M | -$45M | -$21M | -$54M | -$97M | -$85M | -$88M | -$95M | -$89M |
| Income tax | $0 | -$6M | -$6M | -$58,500 | -$5M | — | -$197,000 | — | — | -$681,000 |
| Net income | -$11M | -$46M | -$39M | -$21M | -$49M | -$97M | -$85M | -$88M | -$95M | -$88M |
| EPS (diluted) | $2.95 | -$118.91 | -$15.16 | -$1.60 | -$1.91 | -$2.35 | -$1.81 | -$1.66 | -$1.34 | -$1.00 |
| Diluted shares | 66M | 0M | 3M | 13M | 26M | 41M | 47M | 53M | 71M | 88M |
| Operating margin | -342.7% | -484.7% | -414.6% | -370.0% | -669.5% | -2197.4% | 129029.4% | -22518.5% | -515860.0% | -230461.0% |
| Net margin | -342.6% | -432.3% | -379.2% | -353.7% | -599.2% | -2201.4% | 124577.9% | -20762.2% | -475295.0% | -214861.0% |
Balance sheet
Fiscal years, from Altimmune's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $221M | $9M | $34M | $37M | $216M | $190M | $185M | $198M | $132M | $273M |
| Total current assets | $4M | $23M | $39M | $39M | $230M | $204M | $193M | $210M | $137M | $278M |
| Property, plant and equipment | $177,859 | $603,146 | $1M | $1M | $1M | $1M | $1M | $651,000 | $413,000 | $312,000 |
| Goodwill | $19M | — | $0 | $0 | — | — | — | — | — | — |
| Total assets | $38M | $63M | $55M | $54M | $245M | $219M | $207M | $211M | $139M | $280M |
| Total current liabilities | $5M | $4M | $5M | $4M | $12M | $18M | $17M | $12M | $10M | $15M |
| Long-term debt | — | — | $2M | $2M | $2M | $1M | $5M | — | — | $34M |
| Total liabilities | $6M | $14M | $6M | $9M | $19M | $20M | $22M | $17M | $16M | $55M |
| Shareholders' equity | $32M | $39M | $48M | $46M | $226M | $199M | $185M | $194M | $124M | $225M |
| Net debt | -$3M | -$9M | -$32M | -$7M | -$114M | -$189M | -$107M | -$135M | -$37M | -$9M |
Cash flow
Fiscal years, from Altimmune's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$6M | -$20M | -$9M | -$10M | -$34M | -$78M | -$63M | -$76M | -$80M | -$68M |
| Capital spending | $124,955 | $112,441 | $975,407 | $1,227 | $203,957 | $12M | $126,000 | $47,000 | — | $11,000 |
| Free cash flow | -$6M | -$20M | -$10M | -$10M | -$35M | -$90M | -$63M | -$76M | — | -$68M |
| Stock-based compensation | $965,365 | $1M | $773,248 | $1M | $3M | $6M | $8M | $11M | $14M | $16M |
| Net borrowing | $531 | — | — | — | — | — | — | — | — | $35M |
| Free cash flow margin | -200.2% | -189.3% | -100.3% | -165.5% | -421.6% | -2048.7% | 92223.5% | -17806.8% | — | -164746.3% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for ALT.
Open ALT in InvestinglyQuestions
What was Altimmune's revenue in 2025?
$41,000 in fiscal 2025, from its 10-K filing.
How much free cash flow does Altimmune generate?
-$68M in fiscal 2025 (operating cash flow minus capital spending).
From Altimmune's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.