Cabaletta Bio (CABA) financial statements
Net income was -$168M.
Free cash flow was -$132M.
The diluted share count fell 80% over the period (buybacks).
Income statement
Fiscal years, from Cabaletta Bio's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Research and development | $4M | $12M | $21M | $32M | $39M | $55M | $97M | $143M |
| Selling, general and admin | $2M | $7M | $12M | $14M | $15M | $19M | $28M | $30M |
| Operating income | -$6M | -$19M | -$34M | -$46M | -$54M | -$75M | -$125M | -$172M |
| Interest expense | — | — | — | — | — | $0 | $748,000 | $2M |
| Income tax | — | — | — | — | — | — | $0 | $0 |
| Net income | -$12M | -$17M | -$33M | -$46M | -$53M | -$68M | -$116M | -$168M |
| EPS (diluted) | -$6.87 | -$4.07 | -$1.44 | -$1.80 | -$1.81 | -$1.65 | -$2.34 | -$2.10 |
| Diluted shares | — | — | — | — | 6M | 1M | — | — |
Balance sheet
Fiscal years, from Cabaletta Bio's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $33M | $136M | $109M | $122M | $107M | $241M | $164M | $134M |
| Total current assets | $34M | $141M | $114M | $125M | $109M | $244M | $167M | $139M |
| Property, plant and equipment | — | $815,000 | $890,000 | $1M | $3M | $3M | $3M | $2M |
| Total assets | $34M | $141M | $115M | $126M | $117M | $254M | $185M | $165M |
| Total current liabilities | $943,000 | $3M | $5M | $8M | $9M | $16M | $27M | $50M |
| Total liabilities | $45M | $3M | $5M | $8M | $12M | $17M | $33M | $53M |
| Shareholders' equity | -$11M | $138M | $110M | $118M | $105M | $236M | $152M | $112M |
| Net debt | -$33M | -$136M | -$101M | -$122M | -$82M | -$193M | -$164M | -$83M |
Cash flow
Fiscal years, from Cabaletta Bio's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$5M | -$16M | -$27M | -$34M | -$46M | -$54M | -$88M | -$131M |
| Capital spending | — | $693,000 | $635,000 | $1M | $2M | $687,000 | $2M | $1M |
| Free cash flow | — | -$17M | -$27M | -$35M | -$49M | -$54M | -$90M | -$132M |
| Stock-based compensation | $606,000 | $2M | $4M | $6M | $7M | $11M | $19M | $21M |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for CABA.
Open CABA in InvestinglyQuestions
How much free cash flow does Cabaletta Bio generate?
-$132M in fiscal 2025 (operating cash flow minus capital spending).
From Cabaletta Bio's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.