DBV Technologies (DBVT) financial statements
DBV Technologies reported revenue of $6M in fiscal 2025, down 14.8% a year over 6 years.
Net income was -$147M and the operating margin -2609.2%, against -1162.8% in 2019.
Free cash flow was -$122M.
The diluted share count rose 277% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from DBV Technologies's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $15M | $11M | $6M | $5M | $16M | $4M | $6M |
| Research and development | $115M | $102M | $70M | $76M | $60M | $89M | $117M |
| Selling, general and admin | $71M | $45M | $35M | $26M | $32M | $31M | $36M |
| Operating income | -$171M | -$159M | -$99M | -$97M | -$76M | -$117M | -$147M |
| Pre-tax income | -$171M | -$160M | -$98M | -$96M | -$73M | -$114M | -$146M |
| Income tax | $610,000 | -$10,000 | -$381,000 | $70,000 | $7,000 | $55,000 | $491,000 |
| Net income | -$172M | -$160M | -$98M | -$96M | -$73M | -$114M | -$147M |
| EPS (diluted) | -$4.65 | -$2.95 | -$1.78 | -$1.24 | -$0.76 | -$1.17 | -$1.05 |
| Diluted shares | 37M | 54M | 55M | 77M | 95M | 97M | 140M |
| Operating margin | -1162.8% | -1408.7% | -1727.6% | -1994.9% | -486.0% | -2808.7% | -2609.2% |
| Net margin | -1169.5% | -1415.0% | -1713.5% | -1987.5% | -462.4% | -2744.4% | -2607.3% |
Balance sheet
Fiscal years, from DBV Technologies's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $193M | $196M | $77M | $209M | $141M | $32M | $194M |
| Receivables | — | $2M | $0 | $0 | $0 | — | — |
| Inventory | $2M | $0 | — | — | — | — | — |
| Total current assets | $205M | $207M | $114M | $223M | $159M | $44M | $213M |
| Property, plant and equipment | $25M | $25M | $18M | $15M | $13M | $11M | $10M |
| Total assets | $272M | $272M | $147M | $247M | $183M | $66M | $234M |
| Total current liabilities | $54M | $53M | $31M | $30M | $37M | $31M | $58M |
| Long-term debt | $648,000 | — | — | — | — | — | — |
| Total liabilities | $79M | $67M | $47M | $52M | $43M | $38M | $65M |
| Shareholders' equity | $193M | $205M | $99M | $194M | $140M | $27M | $169M |
| Net debt | -$192M | -$196M | -$77M | -$209M | -$141M | -$32M | -$194M |
Cash flow
Fiscal years, from DBV Technologies's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$148M | -$166M | -$108M | -$56M | -$80M | -$104M | -$121M |
| Capital spending | $6M | $3M | $910,000 | $754,000 | $677,000 | $2M | $532,000 |
| Free cash flow | -$154M | -$168M | -$109M | -$56M | -$80M | -$107M | -$122M |
| Stock-based compensation | $17M | -$1M | $3M | $5M | $6M | $5M | $5M |
| Net borrowing | -$1M | — | — | — | — | — | — |
| Free cash flow margin | -1046.5% | -1493.4% | -1912.3% | -1164.7% | -510.7% | -2573.2% | -2159.6% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for DBVT.
Open DBVT in InvestinglyQuestions
What was DBV Technologies's revenue in 2025?
$6M in fiscal 2025, from its 10-K filing.
How much free cash flow does DBV Technologies generate?
-$122M in fiscal 2025 (operating cash flow minus capital spending).
From DBV Technologies's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.