Cogent Biosciences (COGT) financial statements
Net income was -$329M.
Free cash flow was -$266M.
The diluted share count rose 1165% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Cogent Biosciences's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8M | $10M | $22M | $8M | — | — | — | — | — |
| Research and development | $30M | $38M | $44M | $26M | $56M | $122M | $174M | $233M | $270M |
| Selling, general and admin | $5M | $7M | $11M | $17M | $20M | $26M | $34M | $43M | $64M |
| Operating income | -$26M | -$36M | -$32M | -$82M | -$76M | -$148M | -$208M | -$276M | -$333M |
| Interest expense | — | — | — | — | — | — | — | — | $3M |
| Income tax | — | — | — | — | — | — | — | — | $0 |
| Net income | -$25M | -$35M | -$32M | -$75M | -$72M | -$140M | -$192M | -$256M | -$329M |
| EPS (diluted) | -$2.51 | -$1.39 | -$4.18 | -$16.17 | -$1.87 | -$1.73 | -$1.94 | -$1.94 | -$2.16 |
| Diluted shares | 10M | 25M | 8M | 11M | 39M | 59M | 80M | 104M | 129M |
| Operating margin | -312.8% | -369.9% | -143.0% | -1044.3% | — | — | — | — | — |
| Net margin | -304.9% | -354.8% | -141.5% | -950.4% | — | — | — | — | — |
Balance sheet
Fiscal years, from Cogent Biosciences's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $41M | $79M | $37M | $242M | $220M | $259M | $266M | $287M | $901M |
| Receivables | $830,000 | $2M | $2M | — | — | — | — | — | — |
| Total current assets | $42M | $81M | $41M | $245M | $223M | $265M | $271M | $296M | $910M |
| Property, plant and equipment | $4M | $3M | $2M | $134,000 | $2M | $8M | $8M | $6M | $5M |
| Total assets | $49M | $86M | $49M | $251M | $232M | $301M | $313M | $328M | $938M |
| Total current liabilities | $11M | $25M | $13M | $13M | $17M | $27M | $38M | $56M | $64M |
| Long-term debt | — | — | — | — | — | — | — | $0 | — |
| Total liabilities | $21M | $26M | $18M | $16M | $18M | $45M | $56M | $72M | $301M |
| Shareholders' equity | -$49M | $60M | $32M | $235M | $214M | $256M | $258M | $256M | $636M |
| Net debt | -$28M | -$56M | -$37M | -$242M | -$220M | -$140M | -$53M | -$98M | -$312M |
Cash flow
Fiscal years, from Cogent Biosciences's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$26M | -$32M | -$42M | -$36M | -$59M | -$119M | -$154M | -$208M | -$264M |
| Capital spending | $912,000 | $549,000 | $33,000 | — | $2M | $7M | $3M | $573,000 | $2M |
| Free cash flow | -$27M | -$33M | -$42M | — | -$60M | -$126M | -$156M | -$208M | -$266M |
| Stock-based compensation | $1M | $3M | $3M | $6M | $12M | $18M | $31M | $40M | $46M |
| Net borrowing | — | — | — | — | — | — | $0 | $0 | -$5M |
| Free cash flow margin | -319.9% | -339.4% | -184.7% | — | — | — | — | — | — |
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How much free cash flow does Cogent Biosciences generate?
-$266M in fiscal 2025 (operating cash flow minus capital spending).
From Cogent Biosciences's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.