Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $129M | $26.3M | $336M | $48.7M | $105M | $331M | $0.00 | $0.00 |
| Revenue growth | — | — | — | -79.6% | 1174.9% | -85.5% | 115.9% | 214.6% | -100.0% | — |
| Operating income | -$87.4M | -$90.1M | -$46.4M | -$213M | $62.7M | -$296M | -$341M | -$197M | -$487M | -$555M |
| Operating margin | — | — | -35.9% | -810.0% | 18.7% | -607.8% | -324.3% | -59.5% | — | — |
| Net income | -$86.7M | -$88.2M | -$36.2M | -$198M | $71.1M | -$291M | -$326M | -$145M | -$423M | -$513M |
| Net margin | — | — | -28.1% | -750.8% | 21.2% | -597.2% | -310.3% | -43.9% | — | — |
| EPS (diluted) | -$13.49 | -$5.89 | -$0.39 | -$2.07 | $0.63 | -$2.39 | -$2.60 | -$1.06 | -$2.57 | -$2.97 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$71.9M | -$76.6M | $50.1M | -$152M | $416M | -$211M | -$245M | -$358M | -$348M | -$413M |
| Capital expenditures | $6.13M | $2.88M | $3.39M | $17.9M | $3.10M | $8.50M | $17.8M | $12.9M | $15.9M | $9.50M |
| Free cash flow | -$78.0M | -$79.5M | $46.7M | -$169M | $413M | -$220M | -$263M | -$371M | -$364M | -$422M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $39.9M | $218M | $77.1M | $79.4M | $507M | $293M | $218M | $127M | $175M | $205M |
| Total assets | — | $487M | $662M | $553M | $1.60B | $1.40B | $1.46B | $1.15B | $1.37B | $1.14B |
| Total liabilities | — | $20.9M | $115M | $158M | $454M | $442M | $418M | $123M | $144M | $131M |
| Shareholders' equity | -$94.2M | $466M | $547M | $395M | $1.15B | $962M | $1.04B | $1.03B | $1.23B | $1.01B |
| Retained earnings | — | -$192M | -$228M | -$426M | -$354M | -$645M | -$971M | -$1.12B | -$1.54B | -$2.05B |
| Shares (wtd avg diluted) | — | 87.5M | 92.6M | 95.6M | 113M | 122M | 126M | 137M | 164M | 173M |
Every figure is extracted from Denali Therapeutics Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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