Overview of QQ4 2024 performance and YoY/QoQ dynamics:
- Revenue: $84,000 in QQ4 2024; YoY change +2,546.84%; QoQ change 0.00%. Note: the large YoY jump is driven by base effects and licensing activity relative to a very small prior-year baseline.
- Gross Profit: $84,000; Gross Profit Margin 100% (as reported, gross profit equals revenue); YoY change +1,323.42%; QoQ change 0.00%. The margin reflects a licensing/royalty-style revenue recognition with minimal cost of goods sold.
- Operating Income: -$2,203,064; Operating Margin -26.23%; YoY change -105.80%; QoQ change -26.40%. Primary drivers are Research & Development ($967,206) and General & Administrative expenses ($1,319,858).
- Net Income: -$2,184,790; Net Margin -26.01%; YoY change -76.29%; QoQ change -22.62%. Bottom-line weakness reflects ongoing high operating spend against a modest revenue base.
- EPS (Diluted): -$0.17; YoY change +10.53%; QoQ change -30.77%. The sequential swing is driven by operating losses and share count consistency (weighted average shares ~13.1–13.9 million).
- EBITDA: -$2,203,064; EBITDA Margin -26.23%; aligns with the operating loss after adding back depreciation ($-7,760).
- Cash flow: Operating cash flow -$1,891,659; Free cash flow -$1,961,246; Cash at period end $6,499,885. Financing activities contributed a material cash inflow of $4,208,731 via other financing activities, helping liquidity despite operating cash burn.
- Balance sheet health: Total assets $8,867,789; cash & equivalents $6,499,885; total liabilities $1,208,738; total stockholders’ equity $8,036,400; accumulated deficit on retained earnings of -$51,558,772. Net debt is negative at -$6,362,519 (cash exceeds debt).
- Liquidity and coverage: Current ratio 7.18; quick ratio 7.18; cash-based ratios indicate ample liquidity relative to short-term obligations, though this is driven by financing rather than earnings power. Market multiples (as of QQ4 2024 data) show price-to-sales around 206x and price-to-book around 2.16x, reflecting a high-beta, narrative-driven biotech story with long path to profitability.