What is Olema Pharmaceuticals, Inc.'s earnings per share (EPS)?

Olema Pharmaceuticals, Inc. (OLMA) reported diluted earnings per share of $-1.87 for fiscal year 2025. This represents a 15.0% 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.

Olema Pharmaceuticals, Inc. Financials

OLMA

Source SEC Filings (10-K/10-Q) Updated May 12, 2026 Currency USD FYE December

This page shows Olema Pharmaceuticals, Inc. (OLMA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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).

Rhea AI OLMA FY2025 2026-05-12

Clinical-development spending is scaling faster than internal cash, so equity financing rather than debt is carrying the business.

From FY2023 to FY2025, R&D spending rose from $86.1M to $157.7M. With SG&A still near $21.0M, the move in operating cash burn to $146.7M looks like program expansion rather than a broader overhead build.

FY2025 net loss of $162.5M sat close to operating cash outflow of $146.7M, so the reported loss is translating into real cash use rather than being softened by non-cash accounting items. That makes cash runway more informative here than earnings optics.

The balance sheet remains lightly levered, with total liabilities of $54.9M against equity of $478.6M, which means the company has funded itself mostly through owners, not lenders. Financing cash inflow was $211.3M in FY2025, while shares outstanding reached 81.4M, showing runway has been extended primarily by issuing more ownership.

Financial Health Signals

Financial Profile 33/100

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 Olema Pharmaceuticals, 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.

Leverage

100

Olema Pharmaceuticals, Inc. carries a low D/E ratio of 0.11, meaning only $0.11 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 9.95, Olema Pharmaceuticals, Inc. holds $9.95 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Returns

Olema Pharmaceuticals, Inc. generates a -34.0% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -31.7% the prior year.

Piotroski F-Score Weak

1/9

Olema Pharmaceuticals, Inc. passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Low Quality

0.90x

For every $1 of reported earnings, Olema Pharmaceuticals, Inc. generates $0.90 in operating cash flow (-$146.7M OCF vs -$162.5M 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

-$178.2M

YoY-25.6%

Olema Pharmaceuticals, Inc.'s EBITDA was -$178.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 25.6% from the prior year.

Net Income

-$162.5M

YoY-25.5%

Olema Pharmaceuticals, Inc. reported -$162.5M in net income in fiscal year 2025. This represents a decrease of 25.5% from the prior year.

EPS (Diluted)

$-1.87

YoY+15.0%

Olema Pharmaceuticals, Inc. earned $-1.87 per diluted share (EPS) in fiscal year 2025. This represents an increase of 15.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$48.3M

YoY-65.4%

5Y CAGR-32.3%

Olema Pharmaceuticals, Inc. held $48.3M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

81M

YoY+9.5%

5Y CAGR+15.7%

Olema Pharmaceuticals, Inc. had 81M shares outstanding in fiscal year 2025. This represents an increase of 9.5% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-34.0%

YoY-2.3pp

5Y CAGR-27.4pp

Olema Pharmaceuticals, Inc.'s ROE was -34.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 2.3 percentage points from the prior year.

Capital Allocation

R&D Spending

$157.7M

YoY+26.6%

5Y CAGR+63.0%

Olema Pharmaceuticals, Inc. invested $157.7M in research and development in fiscal year 2025. This represents an increase of 26.6% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

OLMA 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	$157.7M+26.6%	$124.5M+44.6%	$86.1M+4.7%	$82.3M+61.0%	$51.1M+272.9%	$13.7M
SG&A Expenses	$21.0M+18.4%	$17.7M-5.7%	$18.8M-23.8%	$24.7M+21.2%	$20.4M+160.6%	$7.8M
Operating Income	-$178.7M-25.6%	-$142.3M-35.5%	-$105.0M+1.9%	-$107.0M-49.7%	-$71.5M-232.1%	-$21.5M
Interest Expense	N/A	N/A	N/A	N/A	N/A	$653K
Income Tax	$3K+50.0%	$2K0.0%	$2K+100.0%	$1K	N/A	N/A
Net Income	-$162.5M-25.5%	-$129.5M-34.0%	-$96.7M+7.8%	-$104.8M-47.4%	-$71.1M-221.4%	-$22.1M
EPS (Diluted)	$-1.87+15.0%	$-2.20-2.8%	$-2.14+18.3%	$-2.62-45.6%	$-1.80+47.4%	$-3.42

Metric	Q2'26	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	$49.2M	N/A	$40.0M-9.0%	$43.9M+43.4%	$30.6M	N/A	$33.2M+14.1%	$29.1M
SG&A Expenses	$8.8M	N/A	$5.9M+49.6%	$4.0M-6.8%	$4.2M	N/A	$4.4M-0.6%	$4.4M
Operating Income	-$58.0M	N/A	-$45.9M+4.2%	-$47.9M-37.3%	-$34.9M	N/A	-$37.6M-12.2%	-$33.5M
Interest Expense	$100K	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	-$53.1M	N/A	-$42.2M+3.6%	-$43.8M-44.1%	-$30.4M	N/A	-$34.6M-13.7%	-$30.4M
EPS (Diluted)	$-0.52	N/A	$-0.49+3.9%	$-0.51-41.7%	$-0.36	N/A	$-0.60-11.1%	$-0.54

OLMA Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$533.4M+18.3%	$451.0M+62.8%	$276.9M+28.4%	$215.6M-27.1%	$295.9M-13.6%	$342.7M
Current Assets	$515.5M+17.6%	$438.5M+64.5%	$266.5M+27.6%	$208.9M-28.1%	$290.7M-15.0%	$342.1M
Cash & Equivalents	$48.3M-65.4%	$139.5M+103.5%	$68.5M+189.2%	$23.7M+71.6%	$13.8M-95.9%	$338.5M
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	N/A	N/A	N/A	N/A
Total Liabilities	$54.9M+30.6%	$42.0M+82.3%	$23.1M+27.4%	$18.1M+59.1%	$11.4M+148.1%	$4.6M
Current Liabilities	$51.8M+24.1%	$41.8M+93.1%	$21.6M+30.6%	$16.5M+83.5%	$9.0M+96.7%	$4.6M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$478.6M+17.0%	$409.0M+61.1%	$253.9M+28.5%	$197.5M-30.6%	$284.6M-15.8%	$338.1M
Retained Earnings	-$597.6M-37.3%	-$435.1M-42.4%	-$305.6M-46.3%	-$209.0M-100.6%	-$104.2M-214.8%	-$33.1M

Metric	Q2'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$530.6M-0.5%	$533.4M+51.3%	$352.5M-7.7%	$382.0M-6.7%	$409.6M-9.2%	$451.0M+95.9%	$230.2M-9.6%	$254.6M
Current Assets	$513.2M-0.4%	$515.5M+54.2%	$334.3M-9.1%	$367.7M-7.3%	$396.7M-9.5%	$438.5M+101.1%	$218.0M-10.0%	$242.2M
Cash & Equivalents	$52.5M+8.8%	$48.3M+37.0%	$35.3M-32.8%	$52.5M+3.6%	$50.6M-63.7%	$139.5M+288.7%	$35.9M+112.5%	$16.9M
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	$50.2M-8.6%	$54.9M+22.0%	$45.0M+22.3%	$36.8M+40.4%	$26.2M-37.7%	$42.0M+34.4%	$31.3M+14.1%	$27.4M
Current Liabilities	$47.2M-8.9%	$51.8M+24.4%	$41.7M+25.6%	$33.2M+27.2%	$26.1M-37.6%	$41.8M+36.0%	$30.7M+15.7%	$26.5M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$480.5M+0.4%	$478.6M+55.6%	$307.5M-10.9%	$345.2M-10.0%	$383.5M-6.2%	$409.0M+105.6%	$198.9M-12.4%	$227.2M
Retained Earnings	-$650.6M-8.9%	-$597.6M-8.4%	-$551.5M-8.3%	-$509.3M-9.4%	-$465.5M-7.0%	-$435.1M-8.4%	-$401.5M-9.4%	-$367.0M

OLMA Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$146.7M-40.6%	-$104.4M-24.6%	-$83.7M-2.0%	-$82.1M-61.9%	-$50.7M-155.2%	-$19.9M
Capital Expenditures	N/A	$159K	N/A	$363K-77.0%	$1.6M+2712.5%	$56K
Free Cash Flow	N/A	-$104.5M	N/A	-$82.4M-57.7%	-$52.3M-162.3%	-$19.9M
Investing Cash Flow	-$155.8M-66.5%	-$93.5M-1828.0%	-$4.9M-105.3%	$91.5M+133.2%	-$275.4M-491753.6%	-$56K
Financing Cash Flow	$211.3M-21.4%	$268.8M+101.5%	$133.4M+27928.4%	$476K-65.8%	$1.4M-99.6%	$358.4M
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	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$46.0M-20.0%	-$38.3M-11.0%	-$34.5M-15.5%	-$29.9M+32.1%	-$44.0M-67.3%	-$26.3M+2.7%	-$27.0M+2.0%	-$27.6M
Capital Expenditures	N/A	N/A	$0	N/A	N/A	$0	$0-100.0%	$6K
Free Cash Flow	N/A	N/A	-$34.5M	N/A	N/A	-$26.3M+2.7%	-$27.0M+2.0%	-$27.6M
Investing Cash Flow	$4.5M+102.8%	-$162.2M-1038.9%	$17.3M-49.5%	$34.2M+175.9%	-$45.1M+60.6%	-$114.4M-349.2%	$45.9M+1041.4%	-$4.9M
Financing Cash Flow	$45.7M-78.6%	$213.6M+520758.5%	$41K+101.6%	-$2.5M-1234.2%	$222K-99.9%	$244.3M+265443.5%	$92K-99.4%	$15.6M
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

OLMA 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	-34.0%-2.3pp	-31.7%+6.4pp	-38.1%+15.0pp	-53.0%-28.1pp	-25.0%-18.4pp	-6.5%
Return on Assets	-30.4%-1.7pp	-28.7%+6.2pp	-34.9%+13.7pp	-48.6%-24.6pp	-24.0%-17.6pp	-6.5%
Current Ratio	9.95-0.5	10.50-1.8	12.33-0.3	12.62-19.6	32.23-42.4	74.62
Debt-to-Equity	0.11+0.0	0.10+0.0	0.090.0	0.09+0.1	0.04+0.0	0.01
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	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	-11.1%	N/A	-13.7%-1.1pp	-12.7%-4.8pp	-7.9%	N/A	-17.4%-4.0pp	-13.4%
Return on Assets	-10.0%	N/A	-12.0%-0.5pp	-11.5%-4.0pp	-7.4%	N/A	-15.0%-3.1pp	-11.9%
Current Ratio	10.88+0.9	9.95+1.9	8.03-3.1	11.09-4.1	15.22+4.7	10.50+3.4	7.10-2.0	9.13
Debt-to-Equity	0.10-0.0	0.11-0.0	0.15+0.0	0.11+0.0	0.07-0.0	0.10-0.1	0.16+0.0	0.12
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 Olema Pharmaceuticals, Inc. profitable?

No, Olema Pharmaceuticals, Inc. (OLMA) reported a net income of -$162.5M in fiscal year 2025.

What is Olema Pharmaceuticals, Inc.'s EBITDA?

Olema Pharmaceuticals, Inc. (OLMA) had EBITDA of -$178.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Olema Pharmaceuticals, Inc.'s return on equity (ROE)?

Olema Pharmaceuticals, Inc. (OLMA) has a return on equity of -34.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Olema Pharmaceuticals, Inc.'s operating cash flow?

Olema Pharmaceuticals, Inc. (OLMA) generated -$146.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Olema Pharmaceuticals, Inc.'s total assets?

Olema Pharmaceuticals, Inc. (OLMA) had $533.4M in total assets as of fiscal year 2025, including both current and long-term assets.

How much does Olema Pharmaceuticals, Inc. spend on research and development?

Olema Pharmaceuticals, Inc. (OLMA) invested $157.7M in research and development during fiscal year 2025.

How many shares does Olema Pharmaceuticals, Inc. have outstanding?

Olema Pharmaceuticals, Inc. (OLMA) had 81M shares outstanding as of fiscal year 2025.

What is Olema Pharmaceuticals, Inc.'s current ratio?

Olema Pharmaceuticals, Inc. (OLMA) had a current ratio of 9.95 as of fiscal year 2025, which is generally considered healthy.

What is Olema Pharmaceuticals, Inc.'s debt-to-equity ratio?

Olema Pharmaceuticals, Inc. (OLMA) had a debt-to-equity ratio of 0.11 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Olema Pharmaceuticals, Inc.'s return on assets (ROA)?

Olema Pharmaceuticals, Inc. (OLMA) had a return on assets of -30.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Olema Pharmaceuticals, Inc.'s cash runway?

Based on fiscal year 2025 data, Olema Pharmaceuticals, Inc. (OLMA) had $48.3M in cash against an annual operating cash burn of $146.7M. 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 Olema Pharmaceuticals, Inc.'s Piotroski F-Score?

Olema Pharmaceuticals, Inc. (OLMA) has a Piotroski F-Score of 1 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Olema Pharmaceuticals, Inc.'s earnings high quality?

Olema Pharmaceuticals, Inc. (OLMA) has an earnings quality ratio of 0.90x, 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.

How financially healthy is Olema Pharmaceuticals, Inc.?

Olema Pharmaceuticals, Inc. (OLMA) scores 33 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.