X4 Pharmaceuticals financials
$2.90−3.81%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 | FY21 Dec 31 | FY20 Dec 31 | FY19 Dec 31 |
|---|---|---|---|---|---|---|---|
| Revenue | $35.1M | $2.6M | $0.00 | $0.00 | $0.00 | $3.0M | $0.00 |
| Gross profit | $29.4M | $1.8M | $0.00 | $0.00 | $0.00 | $3.0M | $0.00 |
| Gross margin | 83.6% | 68.8% | — | — | — | 100.0% | — |
| Operating income | -$86.9M | -$141.4M | -$107.5M | -$88.1M | -$85.1M | -$59.9M | -$47.8M |
| Net income | -$79.2M | -$37.5M | -$101.2M | -$96.4M | -$102.6M | -$62.1M | -$53.4M |
| Net margin | −225.6% | −1464.6% | — | — | — | −2071.0% | — |
| Diluted EPS | $-1.87 | $-5.59 | $-17.07 | $-45.60 | $-119.70 | $-92.70 | $-138.90 |
| EBITDA | -$85.6M | -$140.6M | -$107.1M | -$87.6M | -$74.8M | -$59.5M | -$47.7M |
| Operating cash flow | -$85.6M | -$130.9M | -$96.5M | -$77.1M | -$70.9M | -$58.8M | -$48.1M |
| Free cash flow | -$85.6M | -$131.2M | -$96.6M | -$77.2M | -$71.5M | -$60.2M | -$48.2M |
| Diluted shares | 42.3M | 6.7M | 5.9M | 2.1M | 0.9M | 0.7M | 0.4M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $217.0M | $55.7M | $99.2M | $121.7M | $81.8M | $78.7M |
| Short-term investments | $35.9M | $46.4M | $15.0M | $0.00 | — | — |
| Total debt | $76.3M | $75.4M | $54.6M | $33.6M | $33.9M | $33.2M |
| Total assets | $290.5M | $146.4M | $147.3M | $155.6M | $117.2M | $122.9M |
| Total liabilities | $104.2M | $124.3M | $96.2M | $81.5M | $52.8M | $50.1M |
| Shareholders' equity | $186.3M | $22.1M | $51.1M | $74.1M | $64.4M | $72.8M |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology