What is Eledon Pharmaceuticals Inc's earnings per share (EPS)?

Eledon Pharmaceuticals Inc (ELDN) reported diluted earnings per share of $-0.52 for fiscal year 2025. This represents a 30.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Eledon Pharmaceuticals Inc Financials

ELDN

Source SEC Filings (10-K/10-Q) Updated Mar 19, 2026 Currency USD FYE March

This page shows Eledon Pharmaceuticals Inc (ELDN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 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).

Financial Health Signals

Piotroski F-Score Weak

0/9

Eledon Pharmaceuticals Inc passes 0 of 9 financial strength tests. No profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Low Quality

1.37x

For every $1 of reported earnings, Eledon Pharmaceuticals Inc generates $1.37 in operating cash flow (-$62.3M OCF vs -$45.6M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

N/A

Net Income

-$45.6M

YoY-26.1%

Eledon Pharmaceuticals Inc reported -$45.6M in net income in fiscal year 2025. This represents a decrease of 26.1% from the prior year.

EPS (Diluted)

$-0.52

YoY+30.7%

Eledon Pharmaceuticals Inc earned $-0.52 per diluted share (EPS) in fiscal year 2025. This represents an increase of 30.7% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$22.8M

YoY+11.0%

5Y CAGR-27.5%

10Y CAGR-0.5%

Eledon Pharmaceuticals Inc held $22.8M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

76M

YoY+26.9%

5Y CAGR+38.0%

Eledon Pharmaceuticals Inc had 76M shares outstanding in fiscal year 2025. This represents an increase of 26.9% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-56.3%

YoY+1.7pp

5Y CAGR-44.3pp

10Y CAGR+1564.4pp

Eledon Pharmaceuticals Inc's ROE was -56.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 1.7 percentage points from the prior year.

Capital Allocation

R&D Spending

$66.3M

YoY+27.5%

5Y CAGR+61.0%

10Y CAGR+7.3%

Eledon Pharmaceuticals Inc invested $66.3M in research and development in fiscal year 2025. This represents an increase of 27.5% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

ELDN Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	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
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$66.3M+27.5%	$52.0M+71.4%	$30.3M+11.9%	$27.1M+14.1%	$23.7M+287.1%	$6.1M
SG&A Expenses	$17.0M-8.8%	$18.6M+46.7%	$12.7M-0.1%	$12.7M-3.3%	$13.1M+30.6%	$10.1M
Operating Income	N/A	N/A	-$43.0M+51.4%	-$88.4M-139.9%	-$36.9M-99.7%	-$18.5M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$35K-91.9%	$431K	$0	$0+100.0%	-$2.4M-482.7%	-$404K
Net Income	-$45.6M-26.1%	-$36.2M+69.0%	-$116.5M-32.5%	-$88.0M-154.9%	-$34.5M-51.3%	-$22.8M
EPS (Diluted)	$-0.52+30.7%	$-0.75+84.1%	$-4.73+23.2%	$-6.16-164.4%	$-2.33	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
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	$15.0M-26.2%	$20.3M+49.8%	$13.5M	N/A	$16.5M+63.5%	$10.1M+36.4%	$7.4M	N/A
SG&A Expenses	$4.1M-8.0%	$4.5M+0.5%	$4.4M	N/A	$4.0M-9.2%	$4.4M+27.1%	$3.5M	N/A
Operating Income	-$19.1M+22.9%	-$24.7M-37.7%	-$18.0M	N/A	-$20.5M-41.4%	-$14.5M-33.4%	-$10.9M	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$17.5M-55.7%	-$11.2M-72.7%	-$6.5M	N/A	$77.0M+271.4%	-$44.9M-90.0%	-$23.6M	N/A
EPS (Diluted)	$-0.21-61.5%	$-0.13-62.5%	$-0.08	N/A	$-0.28+69.6%	$-0.92-41.5%	$-0.65	N/A

ELDN Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$169.0M-4.7%	$177.4M+99.2%	$89.1M-4.0%	$92.8M-45.6%	$170.5M-13.5%	$197.2M
Current Assets	$135.7M-5.6%	$143.7M+156.1%	$56.1M-5.7%	$59.5M-32.6%	$88.3M-23.6%	$115.6M
Cash & Equivalents	$22.8M+11.0%	$20.5M+345.6%	$4.6M-91.8%	$56.4M-33.5%	$84.8M-25.7%	$114.2M
Inventory	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
Goodwill	N/A	N/A	$0	$0-100.0%	$48.6M0.0%	$48.6M
Total Liabilities	$87.9M-23.5%	$115.0M-16.4%	$137.6M+99.3%	$69.0M+953.0%	$6.6M-0.5%	$6.6M
Current Liabilities	$18.3M+58.5%	$11.6M+197.2%	$3.9M-39.8%	$6.5M+47.1%	$4.4M+77.2%	$2.5M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$81.1M+29.8%	$62.4M+228.8%	-$48.5M-303.8%	$23.8M-85.5%	$164.0M-14.0%	$190.6M
Retained Earnings	-$401.2M-12.8%	-$355.6M-11.3%	-$319.4M-57.4%	-$202.9M-76.6%	-$114.9M-42.9%	-$80.4M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$129.9M-10.4%	$144.9M-10.2%	$161.3M-9.1%	$177.4M+54.8%	$114.6M-4.9%	$120.5M+49.1%	$80.8M-9.3%	$89.1M
Current Assets	$96.3M-13.6%	$111.4M-12.8%	$127.7M-11.1%	$143.7M+76.3%	$81.5M-6.5%	$87.2M+81.8%	$48.0M-14.5%	$56.1M
Cash & Equivalents	$3.7M-36.1%	$5.7M-32.4%	$8.5M-58.7%	$20.5M+204.4%	$6.8M-74.1%	$26.0M+360.5%	$5.7M+22.6%	$4.6M
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	$0
Total Liabilities	$94.5M-0.1%	$94.6M-7.7%	$102.4M-10.9%	$115.0M+22.0%	$94.2M-49.0%	$184.7M+22.1%	$151.2M+10.0%	$137.6M
Current Liabilities	$14.3M+4.2%	$13.7M+49.4%	$9.2M-20.7%	$11.6M-7.3%	$12.5M+107.3%	$6.0M+41.9%	$4.2M+9.0%	$3.9M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$35.4M-29.7%	$50.3M-14.5%	$58.9M-5.7%	$62.4M+206.6%	$20.4M+131.7%	-$64.2M+8.8%	-$70.4M-45.2%	-$48.5M
Retained Earnings	-$390.8M-4.7%	-$373.3M-3.1%	-$362.1M-1.8%	-$355.6M-14.3%	-$311.0M+19.8%	-$387.9M-13.1%	-$343.0M-7.4%	-$319.4M

ELDN Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$62.3M-31.9%	-$47.3M-19.6%	-$39.5M-39.1%	-$28.4M+1.7%	-$28.9M-90.1%	-$15.2M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$10.8M+115.3%	-$70.3M-55.3%	-$45.3M	N/A	N/A	$11.0M
Financing Cash Flow	$53.8M-59.7%	$133.5M+304.4%	$33.0M	N/A	-$449K-100.4%	$109.6M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	-$14.5M+18.3%	-$17.7M-10.3%	-$16.1M+15.4%	-$19.0M-61.3%	-$11.8M-51.4%	-$7.8M+11.1%	-$8.7M+4.3%	-$9.1M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$12.4M-17.1%	$15.0M+284.3%	$3.9M+108.2%	-$47.4M-270.1%	-$12.8M+35.7%	-$19.9M-303.5%	$9.8M-2.9%	$10.1M
Financing Cash Flow	$0	$0-100.0%	$115K-99.9%	$80.2M+1417.5%	$5.3M-89.0%	$48.1M+4807000.0%	$1K	$0
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

ELDN Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	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
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	-56.3%+1.7pp	-57.9%	N/A	-369.8%-348.8pp	-21.0%-9.1pp	-12.0%
Return on Assets	-27.0%-6.6pp	-20.4%+110.4pp	-130.8%-36.0pp	-94.8%-74.6pp	-20.2%-8.7pp	-11.6%
Current Ratio	7.40-5.0	12.42-2.0	14.41+5.2	9.19-10.9	20.07-26.5	46.57
Debt-to-Equity	1.08-0.8	1.84+4.7	-2.84-5.7	2.90+2.9	0.040.0	0.03
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
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	-49.4%-27.1pp	-22.3%-11.3pp	-11.0%	N/A	378.0%	N/A	N/A	N/A
Return on Assets	-13.4%-5.7pp	-7.7%-3.7pp	-4.0%	N/A	67.2%+104.5pp	-37.3%-8.0pp	-29.2%	N/A
Current Ratio	6.74-1.4	8.12-5.8	13.91+1.5	12.42+5.9	6.53-7.9	14.48+3.2	11.30-3.1	14.41
Debt-to-Equity	2.67+0.8	1.88+0.1	1.74-0.1	1.84-2.8	4.63+7.5	-2.88-0.7	-2.15+0.7	-2.84
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 Eledon Pharmaceuticals Inc profitable?

No, Eledon Pharmaceuticals Inc (ELDN) reported a net income of -$45.6M in fiscal year 2025.

What is Eledon Pharmaceuticals Inc's return on equity (ROE)?

Eledon Pharmaceuticals Inc (ELDN) has a return on equity of -56.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Eledon Pharmaceuticals Inc's operating cash flow?

Eledon Pharmaceuticals Inc (ELDN) generated -$62.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Eledon Pharmaceuticals Inc's total assets?

Eledon Pharmaceuticals Inc (ELDN) had $169.0M in total assets as of fiscal year 2025, including both current and long-term assets.

How much does Eledon Pharmaceuticals Inc spend on research and development?

Eledon Pharmaceuticals Inc (ELDN) invested $66.3M in research and development during fiscal year 2025.

How many shares does Eledon Pharmaceuticals Inc have outstanding?

Eledon Pharmaceuticals Inc (ELDN) had 76M shares outstanding as of fiscal year 2025.

What is Eledon Pharmaceuticals Inc's current ratio?

Eledon Pharmaceuticals Inc (ELDN) had a current ratio of 7.40 as of fiscal year 2025, which is generally considered healthy.

What is Eledon Pharmaceuticals Inc's debt-to-equity ratio?

Eledon Pharmaceuticals Inc (ELDN) had a debt-to-equity ratio of 1.08 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Eledon Pharmaceuticals Inc's return on assets (ROA)?

Eledon Pharmaceuticals Inc (ELDN) had a return on assets of -27.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Eledon Pharmaceuticals Inc's cash runway?

Based on fiscal year 2025 data, Eledon Pharmaceuticals Inc (ELDN) had $22.8M in cash against an annual operating cash burn of $62.3M. This gives an estimated cash runway of approximately 4 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 Eledon Pharmaceuticals Inc's Piotroski F-Score?

Eledon Pharmaceuticals Inc (ELDN) has a Piotroski F-Score of 0 out of 9, indicating weak 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Eledon Pharmaceuticals Inc's earnings high quality?

Eledon Pharmaceuticals Inc (ELDN) has an earnings quality ratio of 1.37x, 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.