Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | $15.8M | $36.1M | $41.1M | — |
| Revenue growth | — | — | — | — | — | — | 129.0% | 13.9% | — |
| Operating income | — | -$8.62M | -$26.7M | -$29.5M | -$37.8M | -$62.1M | -$14.5M | -$8.27M | -$23.6M |
| Operating margin | — | — | — | — | — | -393.9% | -40.2% | -20.1% | — |
| Net income | — | -$13.3M | -$25.6M | -$29.8M | -$39.1M | -$62.4M | -$13.3M | -$8.07M | -$22.4M |
| Net margin | — | — | — | — | — | -396.1% | -37.0% | -19.6% | — |
| EPS (diluted) | — | -$1.09 | -$1.47 | -$1.46 | -$1.36 | -$1.85 | -$0.38 | -$0.23 | -$0.39 |
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | — | -$7.53M | -$22.9M | -$24.6M | -$32.1M | -$8.73M | -$21.8M | -$19.0M | -$22.7M |
| Capital expenditures | — | $35.0K | $74.0K | $202K | $57.0K | $279K | $50.0K | $85.0K | $48.0K |
| Free cash flow | — | -$7.56M | -$23.0M | -$24.8M | -$32.1M | -$9.01M | -$21.8M | -$19.1M | -$22.8M |
| Share buybacks | — | — | — | — | — | — | $260K | — | — |
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $7.10M | $28.5M | $13.2M | $24.0M | $50.4M | $59.1M | $23.2M | $18.1M | $30.3M |
| Total assets | $7.15M | $67.2M | $55.5M | $85.4M | $85.4M | $78.4M | $50.5M | $25.6M | $31.9M |
| Total liabilities | $9.40M | $2.23M | $13.7M | $15.6M | $18.9M | $46.5M | $28.0M | $6.54M | $3.29M |
| Long-term debt | — | — | $9.68M | $8.28M | $8.75M | $3.24M | — | — | — |
| Shareholders' equity | -$2.25M | $64.9M | $41.8M | $69.9M | $66.5M | $31.9M | $22.6M | $19.1M | $28.6M |
| Retained earnings | -$2.26M | -$15.5M | -$41.1M | -$70.9M | -$110M | -$172M | -$186M | -$194M | -$216M |
| Shares (wtd avg diluted) | 10.7M | 17.4M | 17.4M | 24.8M | 28.8M | 33.7M | 34.7M | 35.4M | 57.3M |
Every figure is extracted from Equillium, 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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