Disc Medicine (IRON) financial statements
Net income was -$212M.
Free cash flow was -$181M.
The diluted share count rose 134% over the period (dilution).
Income statement
Fiscal years, from Disc Medicine's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Research and development | $28M | $25M | $33M | $69M | $97M | $171M |
| Selling, general and admin | $6M | $6M | $14M | $22M | $33M | $65M |
| Operating income | -$34M | -$31M | -$47M | -$91M | -$130M | -$236M |
| Interest expense | $7M | $2M | — | $0 | $572,000 | $4M |
| Pre-tax income | — | — | -$47M | -$76M | -$109M | -$212M |
| Income tax | — | — | $0 | $99,000 | $355,000 | $361,000 |
| Net income | -$41M | -$36M | -$47M | -$76M | -$109M | -$212M |
| EPS (diluted) | -$2.70 | -$40.95 | -$45.05 | -$3.42 | -$3.96 | -$6.01 |
| Diluted shares | 15M | 1M | 1M | 22M | 28M | 35M |
Balance sheet
Fiscal years, from Disc Medicine's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Cash and short-term investments | $5M | $88M | $195M | $360M | $490M | $791M |
| Total current assets | $5M | $90M | $198M | $366M | $494M | $804M |
| Property, plant and equipment | $294,000 | $106,000 | $168,000 | $170,000 | $751,000 | $1M |
| Total assets | $8M | $92M | $200M | $368M | $497M | $807M |
| Total current liabilities | $25M | $13M | $23M | $21M | $23M | $37M |
| Total liabilities | $30M | $15M | $24M | $23M | $53M | $67M |
| Shareholders' equity | -$29M | -$64M | $177M | $345M | $444M | $740M |
| Net debt | $7M | -$88M | -$195M | -$360M | -$192M | -$91M |
Cash flow
Fiscal years, from Disc Medicine's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$33M | -$28M | -$42M | -$73M | -$94M | -$180M |
| Capital spending | $22,000 | $68,000 | $151,000 | $89,000 | $505,000 | $933,000 |
| Free cash flow | -$33M | -$28M | -$42M | -$74M | -$94M | -$181M |
| Stock-based compensation | $983,000 | $507,000 | $2M | $6M | $17M | $34M |
| Net borrowing | — | — | — | $0 | $29M | $0 |
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Open IRON in InvestinglyQuestions
How much free cash flow does Disc Medicine generate?
-$181M in fiscal 2025 (operating cash flow minus capital spending).
From Disc Medicine's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.