Executive Summary
Pluri Inc reported its QQ1 2025 results with a modest top line of $0.326 million and a gross margin of 61.3%, yet a substantial operating loss of $5.701 million and a net loss of $5.882 million. R&D spending remained the dominant driver of expense at $3.392 million, with G&A of $2.509 million, contributing to a total operating expense of $5.901 million. The quarter’s EBITDA was negative $5.754 million, with an operating margin of -17.5%. The company burned cash from operating activities by $4.064 million, generating a negative free cash flow of $4.272 million for QQ1 2025. On the balance sheet, Pluri carried roughly $30.9 million in total debt against liquid assets totaling about $25.7 million (cash and short-term investments), and posted a negative stockholders’ equity of approximately -$5.28 million. Despite the losses, the current liquidity position appears adequate on a short-term basis, as the reported current ratio stood at 5.90x, supported by a sizable cash and investment balance. The company’s strategic focus remains on placental-derived cell therapies, notably PLXPAD (Phase III for hip fracture muscle recovery; Phase II for ARDS) and PLXR18 for incomplete hematopoietic recovery, among others. A key near-term message for investors is that financial improvement hinges on meaningful pipeline advancement and potential monetization via licensing or partnerships, given the heavy R&D burn and the need for additional capital to sustain operations if near-term milestones are not met.
Key Performance Indicators
QoQ: 239.58% | YoY:503.70%
QoQ: 545.16% | YoY:103.76%
QoQ: -2.67% | YoY:-2 208.24%
QoQ: -5.66% | YoY:-16.67%
Key Insights
Revenue: $326,000; YoY growth 503.70%, QoQ growth 239.58%; Gross Profit: $200,000; Gross Margin 61.35%; YoY Gross Profit growth 103.76%, QoQ 545.16%; Operating Income: -$5,701,000; Operating Margin -17.49%; YoY Operating Income growth 48.76%, QoQ 5.52%; Net Income: -$5,882,000; Net Margin -18.04%; YoY Net Income growth -2,208.24%, QoQ -2.67%; EPS: -$1.12; YoY EPS -16.67%, QoQ -5.66%. Cash Flow: Net cash from operating activities -$4,064,000; Free cash flow -$4,272,000; Net change in cash -$3,455...
Financial Highlights
Revenue: $326,000; YoY growth 503.70%, QoQ growth 239.58%; Gross Profit: $200,000; Gross Margin 61.35%; YoY Gross Profit growth 103.76%, QoQ 545.16%; Operating Income: -$5,701,000; Operating Margin -17.49%; YoY Operating Income growth 48.76%, QoQ 5.52%; Net Income: -$5,882,000; Net Margin -18.04%; YoY Net Income growth -2,208.24%, QoQ -2.67%; EPS: -$1.12; YoY EPS -16.67%, QoQ -5.66%. Cash Flow: Net cash from operating activities -$4,064,000; Free cash flow -$4,272,000; Net change in cash -$3,455,000; Cash at end of period $4,216,000; Beginning cash $7,671,000.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
326.00K |
503.70% |
239.58% |
| Gross Profit |
200.00K |
103.76% |
545.16% |
| Operating Income |
-5.70M |
48.76% |
5.52% |
| Net Income |
-5.88M |
-2 208.24% |
-2.67% |
| EPS |
-1.12 |
-16.67% |
-5.66% |
Key Financial Ratios
operatingProfitMargin
-1749%
operatingCashFlowPerShare
$-0.78
freeCashFlowPerShare
$-0.82
Management Commentary
Transcript data not provided in the supplied dataset. As a result, there are no management quotes available to quote verbatim. The analysis relies on reported financial results and disclosed metrics rather than verbatim call commentary. Investors should note this gap when assessing management sentiment and strategic guidance for QQ1 2025.
Transcript data not provided in the dataset.
— Management
Transcript data not provided in the dataset.
— Management
Forward Guidance
No formal forward guidance was included in the provided data. Given the company’s pipeline and near-term milestones, the forward-looking focus for Pluri hinges on: (1) PLXPAD Phase III readouts for muscle recovery post-hip fracture and potential Phase III data in GvHD if applicable, (2) PLXR18 development progress for incomplete hematopoietic recovery, and (3) potential partnering/licensing discussions to monetize the pipeline and improve liquidity. In our assessment, achievability depends on successful progression through late-stage trials, potential milestone payments, and strategic financing options. Key factors investors should monitor include: upcoming trial updates and data readouts, regulatory interactions, any partnership announcements, and the company’s ability to extend the operating runway through additional equity or debt financing. Absent concrete milestones or partnerships, the near-term outlook remains balance-sheet sensitive with continued reliance on external funding.