Celcuity Inc Financials
This page shows Celcuity Inc (CELC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 10 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Celcuity's visible business mechanic is funding an accelerating R&D engine with outside capital while cash burn, not revenue, shapes the balance sheet.
By FY2025, operating cash burn of$153.3M sat close to the net loss of$177.0M , so the reported loss is broadly translating into real cash consumption rather than being masked by working-capital timing. The year-end cash increase therefore reflects financing dependence, not internal generation: cash reached$165.7M only after$360.6M of financing inflow.
The capital structure has moved toward heavier external financing: debt to equity rose from 0.9x in FY2024 to 1.4x in FY2025 as liabilities expanded faster than the equity base. Shares outstanding also climbed from 25.5M in FY2023 to 48.2M in FY2025, showing that funding has come through dilution as well as borrowing.
R&D is the operating center of gravity, reaching
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Celcuity Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Celcuity Inc carries a low D/E ratio of 1.37, meaning only $1.37 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 74/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 10.55, Celcuity Inc holds $10.55 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
Celcuity Inc generates a -176.1% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -96.7% the prior year.
Celcuity Inc passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass.
For every $1 of reported earnings, Celcuity Inc generates $0.87 in operating cash flow (-$153.3M OCF vs -$177.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Celcuity Inc earns $-12.0 in operating income for every $1 of interest expense (-$172.2M vs $14.4M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Celcuity Inc's EBITDA was -$172.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 52.1% from the prior year.
Celcuity Inc reported -$177.0M in net income in fiscal year 2025. This represents a decrease of 58.4% from the prior year.
Celcuity Inc earned $-3.79 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 33.9% from the prior year.
Cash & Balance Sheet
Celcuity Inc generated -$153.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 83.4% from the prior year.
Celcuity Inc held $165.7M in cash against $137.5M in long-term debt as of fiscal year 2025.
Celcuity Inc had 48M shares outstanding in fiscal year 2025. This represents an increase of 29.9% from the prior year.
Margins & Returns
Celcuity Inc's ROE was -176.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 79.4 percentage points from the prior year.
Capital Allocation
Celcuity Inc invested $145.0M in research and development in fiscal year 2025. This represents an increase of 39.1% from the prior year.
Celcuity Inc invested $249K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 0.4% from the prior year.
CELC Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | $33.1M | N/A | $34.9M-13.2% | $40.2M+35.2% | $29.8M | N/A | $27.6M+22.6% | $22.5M |
| SG&A Expenses | $17.4M | N/A | $7.9M+109.5% | $3.8M-40.6% | $6.4M | N/A | $2.5M+38.4% | $1.8M |
| Operating Income | -$50.5M | N/A | -$42.8M+2.6% | -$44.0M-21.8% | -$36.1M | N/A | -$30.1M-23.8% | -$24.3M |
| Interest Expense | $4.5M | N/A | $4.6M+43.4% | $3.2M+0.1% | $3.2M | N/A | $3.3M+47.9% | $2.3M |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$52.8M | N/A | -$43.8M+3.2% | -$45.3M-22.4% | -$37.0M | N/A | -$29.8M-25.6% | -$23.7M |
| EPS (Diluted) | $-0.97 | N/A | $-0.92+11.5% | $-1.04-20.9% | $-0.86 | N/A | $-0.70-12.9% | $-0.62 |
CELC Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $410.2M-12.1% | $466.6M-2.0% | $476.0M+159.3% | $183.6M-15.8% | $218.1M-11.0% | $245.1M-10.2% | $273.0M-6.7% | $292.5M |
| Current Assets | $408.9M-12.2% | $465.7M-2.1% | $475.5M+159.7% | $183.1M-15.9% | $217.6M-11.0% | $244.6M-10.2% | $272.4M-6.7% | $291.9M |
| Cash & Equivalents | $145.2M-12.4% | $165.7M+123.2% | $74.3M+60.2% | $46.4M+181.3% | $16.5M-26.8% | $22.5M+78.6% | $12.6M-58.6% | $30.5M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $356.6M-2.6% | $366.0M+1.9% | $359.0M+157.9% | $139.2M+5.9% | $131.5M+1.5% | $129.5M+5.0% | $123.3M+6.4% | $115.9M |
| Current Liabilities | $33.2M-24.8% | $44.2M+13.8% | $38.8M-2.9% | $39.9M+21.3% | $32.9M+3.8% | $31.7M+20.6% | $26.3M+34.7% | $19.5M |
| Long-Term Debt | $137.9M+0.2% | $137.5M+0.2% | $137.2M+29.9% | $105.6M+0.2% | $105.3M+0.2% | $105.1M+0.2% | $104.8M+0.2% | $104.6M |
| Total Equity | $53.5M-46.8% | $100.6M-14.0% | $117.0M+163.6% | $44.4M-48.8% | $86.7M-25.0% | $115.6M-22.8% | $149.7M-15.3% | $176.7M |
| Retained Earnings | -$501.7M-11.8% | -$448.9M-12.8% | -$397.9M-12.4% | -$354.1M-14.7% | -$308.9M-13.6% | -$271.9M-15.6% | -$235.2M-14.5% | -$205.4M |
CELC Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$55.1M-51.3% | -$36.4M+18.8% | -$44.8M-23.8% | -$36.2M-1.0% | -$35.9M-29.1% | -$27.8M-35.1% | -$20.6M-13.8% | -$18.1M |
| Capital Expenditures | $249K+369.8% | $53K-45.4% | $97K+148.7% | $39K-35.0% | $60K+33.3% | $45K-11.8% | $51K-20.3% | $64K |
| Free Cash Flow | -$55.3M-51.7% | -$36.5M+18.8% | -$44.9M-23.9% | -$36.3M-0.9% | -$35.9M-29.1% | -$27.8M-34.9% | -$20.6M-13.7% | -$18.1M |
| Investing Cash Flow | $34.5M-66.6% | $103.4M+140.1% | -$257.6M-491.2% | $65.9M+171.4% | $24.3M-35.4% | $37.6M+1873.7% | $1.9M+101.8% | -$106.1M |
| Financing Cash Flow | $34K-99.9% | $24.4M-92.6% | $330.3M+142281.5% | $232K-95.8% | $5.6M+4415.4% | $123K-84.7% | $803K-99.3% | $123.4M |
| Dividends Paid | N/A | N/A | $0 | $0 | $0 | N/A | $0 | $0 |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
CELC Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | -98.7% | N/A | -37.5%+64.6pp | -102.0%-59.3pp | -42.7% | N/A | -19.9%-6.5pp | -13.4% |
| Return on Assets | -12.9% | N/A | -9.2%+15.5pp | -24.7%-7.7pp | -17.0% | N/A | -10.9%-2.8pp | -8.1% |
| Current Ratio | 12.31+1.8 | 10.55-1.7 | 12.26+7.7 | 4.58-2.0 | 6.61-1.1 | 7.71-2.6 | 10.36-4.6 | 14.95 |
| Debt-to-Equity | 2.58+1.2 | 1.37+0.2 | 1.17-1.2 | 2.38+1.2 | 1.22+0.3 | 0.91+0.2 | 0.70+0.1 | 0.59 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
Is Celcuity Inc profitable?
No, Celcuity Inc (CELC) reported a net income of -$177.0M in fiscal year 2025.
What is Celcuity Inc's EBITDA?
Celcuity Inc (CELC) had EBITDA of -$172.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Celcuity Inc have?
As of fiscal year 2025, Celcuity Inc (CELC) had $165.7M in cash and equivalents against $137.5M in long-term debt.
What is Celcuity Inc's return on equity (ROE)?
Celcuity Inc (CELC) has a return on equity of -176.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Celcuity Inc's free cash flow?
Celcuity Inc (CELC) generated -$153.5M in free cash flow during fiscal year 2025. This represents a -83.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Celcuity Inc's operating cash flow?
Celcuity Inc (CELC) generated -$153.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Celcuity Inc's total assets?
Celcuity Inc (CELC) had $466.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Celcuity Inc's capital expenditures?
Celcuity Inc (CELC) invested $249K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Celcuity Inc spend on research and development?
Celcuity Inc (CELC) invested $145.0M in research and development during fiscal year 2025.
What is Celcuity Inc's current ratio?
Celcuity Inc (CELC) had a current ratio of 10.55 as of fiscal year 2025, which is generally considered healthy.
What is Celcuity Inc's debt-to-equity ratio?
Celcuity Inc (CELC) had a debt-to-equity ratio of 1.37 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Celcuity Inc's return on assets (ROA)?
Celcuity Inc (CELC) had a return on assets of -38.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Celcuity Inc's cash runway?
Based on fiscal year 2025 data, Celcuity Inc (CELC) had $165.7M in cash against an annual operating cash burn of $153.3M. This gives an estimated cash runway of approximately 13 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Celcuity Inc's Piotroski F-Score?
Celcuity Inc (CELC) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Celcuity Inc's earnings high quality?
Celcuity Inc (CELC) has an earnings quality ratio of 0.87x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Celcuity Inc cover its interest payments?
Celcuity Inc (CELC) has an interest coverage ratio of -12.0x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Celcuity Inc?
Celcuity Inc (CELC) scores 29 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.