Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $49.0K | $41.0K | $18.0M | $36.0K | — | — | — | — | — | — |
| Revenue growth | — | -16.3% | 43890.2% | -99.8% | — | — | — | — | — | — |
| Operating income | -$31.7M | -$37.6M | -$45.9M | -$4.06M | -$46.3M | -$21.5M | -$13.9M | -$32.5M | -$36.6M | -$70.7M |
| Operating margin | -64673.5% | -91775.6% | -254.2% | -11288.9% | — | — | — | — | — | — |
| Net income | -$33.5M | -$38.9M | -$49.0M | -$4.07M | -$46.5M | -$21.7M | -$13.9M | -$31.5M | -$35.5M | -$69.4M |
| Net margin | -68322.4% | -94948.8% | -271.4% | -11302.8% | — | — | — | — | — | — |
| EPS (diluted) | -$15.22 | -$2.66 | -$2.44 | -$1.93 | -$6.32 | -$1.55 | -$0.80 | -$24.92 | -$12.17 | -$4.71 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$29.5M | -$31.1M | -$34.5M | -$2.77M | -$18.4M | -$16.7M | -$8.19M | -$28.7M | -$30.7M | -$50.9M |
| Capital expenditures | $525K | $655K | $1.97M | $162K | — | — | — | $88.0K | $37.0K | $116K |
| Free cash flow | -$30.1M | -$31.8M | -$36.4M | -$2.93M | — | — | — | -$28.8M | -$30.8M | -$51.0M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $5.51M | $35.9M | $40.8M | $6.94M | $58.8M | $42.0M | $41.1M | $37.1M | $22.2M | $77.0M |
| Total assets | $35.4M | $92.1M | $103M | $7.66M | $61.2M | $43.3M | $42.0M | $39.0M | $61.6M | $82.8M |
| Total liabilities | $28.4M | $21.0M | $44.9M | $17.3M | — | — | — | — | $9.08M | $21.8M |
| Long-term debt | $10.2M | $3.63M | $26.2M | — | — | — | — | — | — | — |
| Shareholders' equity | -$124M | $71.1M | -$736K | -$4.77M | $59.0M | $41.5M | $38.8M | $35.3M | $52.5M | $61.0M |
| Retained earnings | -$128M | -$167M | -$216M | -$4.97M | -$51.5M | -$73.2M | -$87.0M | -$119M | -$154M | -$223M |
| Shares (wtd avg diluted) | 2.20M | 19.9M | 23.0M | 2.11M | 12.8M | 14.8M | 21.0M | 1.45M | 6.39M | 12.9M |
Every figure is extracted from Forte Biosciences, 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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