What is Vera Therapeutics, Inc.'s earnings per share (EPS)?

Vera Therapeutics, Inc. (VERA) reported diluted earnings per share of $-4.66 for fiscal year 2025. This represents a -69.5% 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.

Vera Therapeutics, Inc. Financials

VERA

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Vera Therapeutics, Inc. (VERA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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

1/9

Vera Therapeutics, 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

0.80x

For every $1 of reported earnings, Vera Therapeutics, Inc. generates $0.80 in operating cash flow (-$241.1M OCF vs -$299.6M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-41.9x

Vera Therapeutics, Inc. earns $-41.9 in operating income for every $1 of interest expense (-$315.5M vs $7.5M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

-$315.0M

YoY-88.6%

Vera Therapeutics, Inc.'s EBITDA was -$315.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 88.6% from the prior year.

Net Income

-$299.6M

YoY-96.9%

Vera Therapeutics, Inc. reported -$299.6M in net income in fiscal year 2025. This represents a decrease of 96.9% from the prior year.

EPS (Diluted)

$-4.66

YoY-69.5%

Vera Therapeutics, Inc. earned $-4.66 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 69.5% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$241.7M

YoY-78.2%

Vera Therapeutics, Inc. generated -$241.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 78.2% from the prior year.

Cash & Debt

$354.7M

YoY+282.9%

5Y CAGR+45.9%

Vera Therapeutics, Inc. held $354.7M in cash against $74.8M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-49.6%

YoY-23.2pp

Vera Therapeutics, Inc.'s ROE was -49.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 23.2 percentage points from the prior year.

Capital Allocation

R&D Spending

$215.3M

YoY+70.6%

5Y CAGR+36.6%

Vera Therapeutics, Inc. invested $215.3M in research and development in fiscal year 2025. This represents an increase of 70.6% from the prior year.

Share Buybacks

YoY-100.0%

Vera Therapeutics, Inc. spent $0 on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.

Capital Expenditures

$630K

YoY-35.2%

5Y CAGR+44.8%

Vera Therapeutics, Inc. invested $630K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 35.2% from the prior year.

VERA 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	$215.3M+70.6%	$126.2M+61.3%	$78.2M+13.4%	$69.0M+206.9%	$22.5M-50.3%	$45.2M
SG&A Expenses	$100.2M+144.4%	$41.0M+72.4%	$23.8M+8.6%	$21.9M+83.8%	$11.9M+195.1%	$4.0M
Operating Income	-$315.5M-88.7%	-$167.2M-63.9%	-$102.0M-12.2%	-$90.9M-164.2%	-$34.4M+34.1%	-$52.2M
Interest Expense	$7.5M-1.2%	$7.6M+101.4%	$3.8M+281.7%	$992K+4860.0%	$20K-88.0%	$166K
Income Tax	$1K0.0%	$1K0.0%	$1K0.0%	$1K0.0%	$1K+200.0%	-$1K
Net Income	-$299.6M-96.9%	-$152.1M-58.5%	-$96.0M-7.8%	-$89.1M-173.1%	-$32.6M+38.9%	-$53.4M
EPS (Diluted)	$-4.66-69.5%	$-2.75-22.2%	$-2.25+32.8%	$-3.35-37.9%	$-2.43	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
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	N/A	$56.5M-3.0%	$58.2M+41.0%	$41.3M	N/A	$40.3M+37.5%	$29.3M+26.3%	$23.2M
SG&A Expenses	N/A	$27.5M+25.1%	$21.9M+37.9%	$15.9M	N/A	$9.5M+18.1%	$8.0M+1.5%	$7.9M
Operating Income	N/A	-$83.9M-4.7%	-$80.1M-40.1%	-$57.2M	N/A	-$49.8M-33.4%	-$37.3M-20.0%	-$31.1M
Interest Expense	N/A	$2.0M+4.6%	$1.9M+4.6%	$1.8M	N/A	$1.9M+1.3%	$1.9M+0.3%	$1.9M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	-$80.3M-4.9%	-$76.5M-48.0%	-$51.7M	N/A	-$46.6M-38.3%	-$33.7M-18.8%	-$28.4M
EPS (Diluted)	N/A	$-1.26-5.0%	$-1.20-48.1%	$-0.81	N/A	$-0.85-37.1%	$-0.62-10.7%	$-0.56

VERA Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$734.7M+12.1%	$655.7M+273.5%	$175.5M+33.6%	$131.4M+56.9%	$83.7M+53.5%	$54.6M
Current Assets	$728.9M+11.9%	$651.2M+278.6%	$172.0M+36.9%	$125.7M+52.3%	$82.5M+52.1%	$54.3M
Cash & Equivalents	$354.7M+282.9%	$92.6M+102.8%	$45.7M+5.1%	$43.5M-45.5%	$79.7M+48.5%	$53.7M
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	$130.2M+65.8%	$78.5M+6.3%	$73.9M+35.5%	$54.5M+285.2%	$14.2M-90.2%	$143.9M
Current Liabilities	$53.5M+110.7%	$25.4M+13.8%	$22.3M-12.9%	$25.6M+232.9%	$7.7M+219.6%	$2.4M
Long-Term Debt	$74.8M+47.6%	$50.7M+1.6%	$49.9M+101.0%	$24.8M+404.0%	$4.9M	$0
Total Equity	$604.5M+4.7%	$577.2M+467.6%	$101.7M+32.2%	$76.9M+10.5%	$69.6M+177.9%	-$89.3M
Retained Earnings	-$760.9M-65.0%	-$461.3M-49.2%	-$309.1M-45.0%	-$213.1M-71.8%	-$124.1M-35.7%	-$91.4M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$734.7M+42.0%	$517.5M-10.5%	$578.5M-5.2%	$610.2M-6.9%	$655.7M+77.9%	$368.6M-7.2%	$397.3M-5.3%	$419.4M
Current Assets	$728.9M+42.6%	$511.3M-10.5%	$571.4M-5.7%	$606.1M-6.9%	$651.2M+78.8%	$364.1M-7.8%	$394.7M-5.2%	$416.4M
Cash & Equivalents	$354.7M+514.0%	$57.8M+17.6%	$49.1M-10.8%	$55.1M-40.5%	$92.6M+239.9%	$27.3M+8.7%	$25.1M-63.7%	$69.1M
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	$130.2M+9.8%	$118.6M+7.6%	$110.3M+46.7%	$75.2M-4.3%	$78.5M-1.2%	$79.5M+14.5%	$69.4M+5.5%	$65.8M
Current Liabilities	$53.5M+27.6%	$41.9M+24.8%	$33.6M+53.3%	$21.9M-13.7%	$25.4M-4.1%	$26.5M+43.7%	$18.4M+26.6%	$14.5M
Long-Term Debt	$74.8M+0.3%	$74.6M+0.2%	$74.5M+46.3%	$50.9M+0.4%	$50.7M+0.4%	$50.5M+0.4%	$50.3M+0.4%	$50.1M
Total Equity	$604.5M+51.6%	$398.9M-14.8%	$468.3M-12.5%	$535.0M-7.3%	$577.2M+99.7%	$289.1M-11.8%	$327.9M-7.3%	$353.5M
Retained Earnings	-$760.9M-13.6%	-$669.8M-13.6%	-$589.5M-14.9%	-$512.9M-11.2%	-$461.3M-10.4%	-$417.8M-12.6%	-$371.2M-10.0%	-$337.5M

VERA Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$241.1M-79.0%	-$134.7M-46.1%	-$92.2M-36.4%	-$67.6M-185.1%	-$23.7M+31.9%	-$34.8M
Capital Expenditures	$630K-35.2%	$972K+1442.9%	$63K+1.6%	$62K	$0-100.0%	$99K
Free Cash Flow	-$241.7M-78.2%	-$135.7M-47.1%	-$92.2M-36.3%	-$67.7M-185.4%	-$23.7M+32.1%	-$34.9M
Investing Cash Flow	$194.3M+145.7%	-$425.0M-977.9%	-$39.4M+44.1%	-$70.6M-1578.2%	-$4.2M-9909.5%	-$42K
Financing Cash Flow	$308.9M-49.1%	$606.7M+354.3%	$133.5M+31.0%	$101.9M+89.2%	$53.9M-36.8%	$85.3M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$0-100.0%	$13K	$0	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	-$70.0M-13.1%	-$61.9M-13.0%	-$54.8M-0.7%	-$54.4M-38.9%	-$39.2M-6.2%	-$36.9M-48.8%	-$24.8M+26.7%	-$33.8M
Capital Expenditures	$102K-23.3%	$133K-36.1%	$208K+11.2%	$187K-71.0%	$645K+171.0%	$238K+167.4%	$89K	$0
Free Cash Flow	-$70.1M-13.0%	-$62.0M-12.8%	-$55.0M-0.8%	-$54.6M-37.1%	-$39.8M-7.3%	-$37.1M-49.3%	-$24.9M+26.5%	-$33.8M
Investing Cash Flow	$80.7M+15.6%	$69.8M+144.4%	$28.5M+86.4%	$15.3M+106.9%	-$221.4M-677.8%	$38.3M+269.0%	-$22.7M+89.7%	-$219.3M
Financing Cash Flow	$286.3M+35819.9%	$797K-96.1%	$20.3M+1223.2%	$1.5M-99.5%	$326.0M+44007.6%	$739K-78.5%	$3.4M-98.8%	$276.5M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$0	N/A	N/A	N/A	$0	N/A	N/A	N/A

VERA 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	-49.6%-23.2pp	-26.4%+68.0pp	-94.4%+21.4pp	-115.8%-68.9pp	-46.9%	N/A
Return on Assets	-40.8%-17.6pp	-23.2%+31.5pp	-54.7%+13.1pp	-67.8%-28.8pp	-38.9%+59.0pp	-97.9%
Current Ratio	13.64-12.0	25.67+18.0	7.71+2.8	4.91-5.8	10.73-11.8	22.55
Debt-to-Equity	0.12+0.0	0.09-0.4	0.49+0.2	0.32+0.3	0.07+0.1	0.00
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
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	N/A	-20.1%-3.8pp	-16.3%-6.7pp	-9.7%	N/A	-16.1%-5.8pp	-10.3%-2.3pp	-8.0%
Return on Assets	N/A	-15.5%-2.3pp	-13.2%-4.8pp	-8.5%	N/A	-12.7%-4.2pp	-8.5%-1.7pp	-6.8%
Current Ratio	13.64+1.4	12.21-4.8	17.03-10.7	27.68+2.0	25.67+11.9	13.76-7.7	21.43-7.2	28.63
Debt-to-Equity	0.12-0.1	0.19+0.0	0.16+0.1	0.100.0	0.09-0.1	0.17+0.0	0.15+0.0	0.14
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 Vera Therapeutics, Inc. profitable?

No, Vera Therapeutics, Inc. (VERA) reported a net income of -$299.6M in fiscal year 2025.

What is Vera Therapeutics, Inc.'s EBITDA?

Vera Therapeutics, Inc. (VERA) had EBITDA of -$315.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Vera Therapeutics, Inc. have?

As of fiscal year 2025, Vera Therapeutics, Inc. (VERA) had $354.7M in cash and equivalents against $74.8M in long-term debt.

What is Vera Therapeutics, Inc.'s return on equity (ROE)?

Vera Therapeutics, Inc. (VERA) has a return on equity of -49.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Vera Therapeutics, Inc.'s free cash flow?

Vera Therapeutics, Inc. (VERA) generated -$241.7M in free cash flow during fiscal year 2025. This represents a -78.2% 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 Vera Therapeutics, Inc.'s operating cash flow?

Vera Therapeutics, Inc. (VERA) generated -$241.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Vera Therapeutics, Inc.'s total assets?

Vera Therapeutics, Inc. (VERA) had $734.7M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Vera Therapeutics, Inc.'s capital expenditures?

Vera Therapeutics, Inc. (VERA) invested $630K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Vera Therapeutics, Inc. spend on research and development?

Vera Therapeutics, Inc. (VERA) invested $215.3M in research and development during fiscal year 2025.

What is Vera Therapeutics, Inc.'s current ratio?

Vera Therapeutics, Inc. (VERA) had a current ratio of 13.64 as of fiscal year 2025, which is generally considered healthy.

What is Vera Therapeutics, Inc.'s debt-to-equity ratio?

Vera Therapeutics, Inc. (VERA) had a debt-to-equity ratio of 0.12 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Vera Therapeutics, Inc.'s return on assets (ROA)?

Vera Therapeutics, Inc. (VERA) had a return on assets of -40.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Vera Therapeutics, Inc.'s cash runway?

Based on fiscal year 2025 data, Vera Therapeutics, Inc. (VERA) had $354.7M in cash against an annual operating cash burn of $241.1M. This gives an estimated cash runway of approximately 18 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 Vera Therapeutics, Inc.'s Piotroski F-Score?

Vera Therapeutics, Inc. (VERA) 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Vera Therapeutics, Inc.'s earnings high quality?

Vera Therapeutics, Inc. (VERA) has an earnings quality ratio of 0.80x, 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 Vera Therapeutics, Inc. cover its interest payments?

Vera Therapeutics, Inc. (VERA) has an interest coverage ratio of -41.9x, 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.