Cue Biopharma (CUE) Financial statements
Cue Biopharma reported revenue of $27M in fiscal 2025, up 57.5% a year over 7 years.
Key figures
Net income was -$27M. Free cash flow was -$22M. The diluted share count rose 783% over the period (dilution).
- Revenue, FY2025
- $27M+195.7% on 2024
- Net income
- -$27M-34.6% on 2024
- Operating margin
- -96.7%
- Free cash flow
- -$22M-39.9% on 2024
Revenue and free cash flow
Fiscal years, from Cue Biopharma's 10-K filings.
Cue Biopharma revenue and free cash flow
FY2017–FY2025Margins
How much of each dollar of revenue is left after the cost of sales, after operating costs, and at the bottom line.
Cue Biopharma margins
FY2017–FY2025Financial statements
Fiscal 2017–2025.
Cue Biopharma income statement, fiscal 2017–2025
| USD | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $1M | $3M | $3M | $15M | $1M | $5M | $9M | $27M |
| Research and development | $19M | $29M | $27M | $34M | $41M | $39M | $41M | $36M | $38M |
| Selling, general and admin | $4M | $11M | $13M | $15M | $17M | $16M | $17M | $15M | $16M |
| Operating income | -$23M | -$39M | -$37M | -$45M | -$44M | -$53M | -$52M | -$42M | -$27M |
| Interest expense | — | — | — | — | — | $109,000 | $100,000 | $100,000 | $100,000 |
| Pre-tax income | -$23M | -$38M | -$36M | -$45M | -$44M | -$53M | — | -$41M | -$26M |
| Income tax | — | $825,000 | $412,500 | $206,250 | $495,000 | $0 | — | $0 | $500,000 |
| Net income | -$23M | -$39M | -$37M | -$45M | -$44M | -$53M | -$51M | -$41M | -$27M |
| EPS (diluted) | -$64.80 | -$58.20 | -$49.80 | -$46.80 | -$42.30 | -$44.70 | -$33.30 | -$21.60 | -$8.40 |
| Diluted shares | 0M | 1M | 1M | 1M | 1M | 1M | 2M | 2M | 3M |
| Operating margin | — | -3386.7% | -1063.2% | -1428.0% | -292.6% | -4275.1% | -949.9% | -446.9% | -96.7% |
| Net margin | — | -3411.5% | -1061.2% | -1419.8% | -295.6% | -4257.8% | -924.1% | -438.0% | -96.9% |
Cue Biopharma balance sheet, fiscal 2017–2025
| USD | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $64M | $39M | $59M | $85M | $64M | $76M | $49M | $22M | $27M |
| Receivables | — | — | $754,898 | $1M | $3M | $57,000 | $2M | $945,000 | $6M |
| Total current assets | $65M | $41M | $61M | $88M | $68M | $77M | $51M | $25M | $37M |
| Property, plant and equipment | $2M | $3M | $2M | $2M | $2M | $1M | $795,000 | $471,000 | $241,000 |
| Total assets | $67M | $45M | $72M | $100M | $83M | $91M | $62M | $32M | $42M |
| Total current liabilities | $5M | $6M | $12M | $16M | $13M | $12M | $17M | $14M | $13M |
| Long-term debt | $0 | — | — | $0 | $0 | $8M | $4M | $0 | — |
| Total liabilities | $5M | $11M | $17M | $21M | $18M | $26M | $24M | $15M | $16M |
| Shareholders' equity | $62M | $34M | $55M | $79M | $65M | $66M | $37M | $17M | $26M |
| Net debt | -$64M | -$21M | -$44M | -$75M | -$64M | -$42M | -$40M | -$22M | -$27M |
Cue Biopharma cash flow, fiscal 2017–2025
| USD | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$12M | -$26M | -$31M | -$32M | -$39M | -$42M | -$40M | -$36M | -$22M |
| Capital spending | $1M | $2M | $46,353 | $595,259 | $913,039 | $171,000 | $0 | $66,000 | $177,000 |
| Free cash flow | -$13M | -$28M | -$31M | -$33M | -$40M | -$42M | -$40M | -$36M | -$22M |
| Stock-based compensation | $3M | $7M | $7M | $10M | $12M | $9M | $8M | $7M | $5M |
| Share buybacks (net) | — | — | -$91,027 | -$271,051 | -$750,128 | -$200,000 | $0 | — | — |
| Net borrowing | — | — | — | — | $0 | $10M | $0 | $18,000 | $0 |
| Free cash flow margin | — | -2473.8% | -891.9% | -1049.0% | -266.0% | -3371.6% | -727.9% | -391.9% | -79.6% |
How Cue Biopharma compares
Cue Biopharma's operating margin is higher than 15% of Healthcare companies and 5% of the 2,821 companies with an operating margin figure.
| Higher than | Healthcare | All stocks |
|---|---|---|
| Operating margin | 15% | 5% |
| Net margin | 12% | 3% |
| Revenue growth | 96% | 98% |
| ROE | 0% | 0% |
Questions about Cue Biopharma
What was Cue Biopharma's revenue in 2025?
$27M in fiscal 2025, from its 10-K filing.
How much free cash flow does Cue Biopharma generate?
-$22M in fiscal 2025 (operating cash flow minus capital spending).
From Cue Biopharma's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.