NanoViricides Inc (NNVC) Q1 2025 Earnings Report

Revenue: not reported in QQ1 2025 (N/A). Gross profit and gross margin: N/A due to lack of revenue.

Profitability:
- Operating income: -$3,167,834, YoY decline of -55.93%, QoQ decline of -32.47%
- Net income: -$3,126,811, YoY decline of -58.82%, QoQ decline of -32.72%
- EPS: -$0.23, YoY -35.29%, QoQ -15.00%

Liquidity and cash flow:
- Net cash provided by operating activities: -$2,594,863
- Free cash flow: -$2,641,627
- Net change in cash: -$931,489
- Cash and cash equivalents at period end: $3,866,289
- Cash burn vs. financing: Operating cash burn of ~$2.59 million was partially offset by financing inflows of ~$1.71 million

Balance sheet highlights:
- Total assets: $11,740,497
- Total current assets: $4,041,422; Cash and cash equivalents: $3,866,289
- Total liabilities: $1,632,706; Current liabilities: $1,632,706
- Stockholders’ equity: $10,107,791; Retained earnings: -$142,501,706
- Quick/liquidity ratios: Current ratio 2.48; Quick ratio 2.48
- Cash per share: $0.28; P/B: 2.04; P/E: negative; EV multiple: -5.62

Operational structure:
- Research and development expenses: $1,933,091; General and administrative: $1,234,743; Depreciation & amortization: $195,613
- Weighted average shares (diluted): 13,715,959

Notes on YoY/QoQ context:
- Revenue: N/A; therefore YoY/QoQ revenue deltas are not applicable.
- EBITDA: -$2,972,221; nothing meaningful to compare without revenue, as is typical for early-stage biotech pre-revenue companies.

Overall takeaway: NNVC remains in a pre-revenue, R&D-intensive stage with a continued cash burn and dependence on external financing. The QQ1 2025 results reinforce the investment thesis as a high-risk, high-variance name with potential upside only if the pipeline achieves meaningful clinical or licensing milestones and the company secures additional funding.

Transcripts for QQ1 2025 were not provided in the data set. Consequently, no management quotes or themes from an earnings call can be quoted or summarized. The absence of a transcript precludes a direct extraction of forward-looking targets or qualitative commentary. It is recommended to review the company’s earnings call materials or submit a formal transcript request to capture management perspective on clinical progression, partnership discussions, and runway implications.

NNVC presents a high-risk, high-uncertainty investment typical of pre-revenue biotech stories. The QQ1 2025 results confirm a cash-burn profile with no revenue and a leverage on external financing to sustain R&D. The investment thesis will hinge on successful advancement and monetization of the nanoviricide pipeline and the company’s ability to secure favorable financing terms or licensing deals to extend runway. In the near term, investors should focus on liquidity trajectory, potential strategic partnerships, and any milestones that could trigger value realization. Given the current cash position and burn rate, a material financing event or a breakthrough in its pipeline would be required to justify a meaningful re-rating. Absent such catalysts, the stock remains a speculative, high-variance opportunity with a precarious liquidity profile.