Saturday 17 October 2026 Export AARD’s income statement to Excel — free account

Aardvark Therapeutics, Inc.

In the quarter to June 2026, EPS was flat and free cash flow fell 77.1%, each against the same quarter a year earlier. Insiders bought in the last twelve months.

3.78 0.08 −2.07%

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Market cap: $84.5M
P/E: 0.0×
Fwd P/E: —
Dividend yield: —
F-score: n/a
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.14

Total sells 0.39

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	2	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	1	—

Insider Ownership 41.32%

Capital & Financial Ratios $m

Market Cap 84.47

Revenue —

Net Income (69.89)

Free Cash Flow (69.41)

Net Debt (73.87)

Current Ratio 12.63

Debt/Equity 0.00

P/E ratio 0.00

Fwd P/E —

P/S ratio 0.00

P/B ratio 1.10

Past 5Y EPS Growth —

This Y EPS Growth (6.45%)

Next Y EPS Growth 22.15%

Next Y revenue growth —

Next 5Y EPS Growth 5.48%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	10	74	110	74
Receivables	—	—	—	—
Inventory	—	—	—	—
Other	—	—	—	—
	10	74	112	81

	2023	2024	2025	Q'26
Payables	1	2	2	2
ST’ Debt	—	—	—	—
Other	—	—	—	—
	1	5	11	6

Compound Annual Growth %

	10y	5y	3y
Sales	—	—	—
Cash Flow	—	—	0.00%
Earnings	—	—	0.00%
Book Value	—	—	88.26%

Revenue $m

	Year

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(19)	(18)	—	—	—
’25	(11)	(10)	(16)	(17)	(54)
’24	(2)	(4)	(4)	(8)	(18)
’23	—	—	—	(6)	(6)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(19)	(18)	—	—	—
’25	(11)	(10)	(16)	(17)	(54)
’24	(2)	(4)	(4)	(8)	(18)
’23	—	—	—	(6)	(6)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(0.99)	(0.66)	—	—	—
’25	(0.71)	(0.66)	(0.75)	(0.81)	(2.93)
’24	(0.55)	(1.37)	(1.05)	(2.18)	(5.15)
’23	—	—	—	—	(1.82)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	—	—	—	—	—	—	—	—	—	4.88	Analyst estimates 2026–2028 Powerpack
	High	—	—	—	—	—	—	—	—	—	19.58
People
People	Employees	—	—	—	—	—	—	—	18	22	40
	Revenue/emp, $m	—	—	—	—	—	—	—	0.00	0.00	0.00
Income, $m
Income, $m	Revenue	—	—	—	—	—	—	—	—	—	—
	Gross margin, %	—	—	—	—	—	—	—	—	—	—
	EBT	—	—	—	—	—	—	(14)	(7)	(21)	(58)
	EBT margin, %	—	—	—	—	—	—	0.00	0.00	0.00	0.00
	Net income	—	—	—	—	—	—	(14)	(7)	(21)	(58)
	Depreciation	—	—	—	—	—	—	0	—	0	(1)
Per share, $
Per share, $	Revenue	—	—	—	—	—	—	0.00	0.00	0.00	0.00
	Earnings	—	—	—	—	—	—	(3.49)	(1.82)	(5.15)	(2.93)
	Cash flow	—	—	—	—	—	—	(2.71)	(1.47)	(4.53)	(2.76)
	Capex	—	—	—	—	—	—	0.00	0.00	(0.03)	0.00
	Free cash flow	—	—	—	—	—	—	(2.71)	(1.47)	(4.55)	(2.77)
	Book value	—	—	—	—	—	—	4.11	2.30	18.04	5.43
	Shares, m	—	—	—	—	—	—	4	4	4	20
Valuation, ×
Valuation, ×	P/E	—	—	—	—	—	—	—	—	—	—
	P/S	—	—	—	—	—	—	—	—	—	—
	P/B	—	—	—	—	—	—	—	—	—	—
	EV/Sales	—	—	—	—	—	—	—	—	—	—
	EV/FCF	—	—	—	—	—	—	—	—	—	—
Cash, $m
Cash, $m	Operating cash flow	—	—	—	—	—	—	(11)	(6)	(18)	(54)
	Capex	—	—	—	—	—	—	—	—	0	0
	Free cash flow	—	—	—	—	—	—	(11)	(6)	(18)	(54)
Balance, $m
Balance, $m	Working capital	—	—	—	—	—	—	16	9	69	101
	Total debt	—	—	—	—	—	—	—	—	—	—
	Net debt	—	—	—	—	—	—	(16)	(10)	(74)	(110)
	Shareholders’ equity	—	—	—	—	—	—	16	9	72	107
Returns, %
Returns, %	ROA	—	—	—	—	—	—	0.00	(52.82)	(46.77)	(59.16)
	ROIC	—	—	—	—	—	—	0.00	0.00	0.00	0.00
	ROE	—	—	—	—	—	—	0.00	22.98	46.03	(221.55)

Negative figures in brackets.

All 10 years →

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
RLYB Rallybio Corporation	$89.1M	2.0×	— (loss-making)	0.00%	n/m	+648.02% (above 0%: growing)	100.00%	0.00%	Compare
OKUR OnKure Therapeutics, Inc.	$86.3M	— (loss-making)	—	—	n/m	+22.05% (above 0%: growing)	0.00%	0.00%	Compare
KZIA Novogen Limited	$84.6M	— (loss-making)	— (loss-making)	—	−32.67% (below 0%: shrinking)	−51.71% (below 0%: shrinking)	0.00%	0.00%	Compare
AARD Aardvark Therapeutics, Inc.	$84.5M	— (loss-making)	—	—	n/m	−77.14% (below 0%: shrinking)	—	0.00%
CRBP Corbus Pharmaceuticals Holdings, Inc.	$83.8M	— (loss-making)	— (loss-making)	−92.09% (below 0%: shrinking)	n/m	−78.52% (below 0%: shrinking)	0.00%	0.00%	Compare
EQ Equillium, Inc.	$83.7M	— (loss-making)	— (loss-making)	−52.32% (below 0%: shrinking)	n/m	−38.67% (below 0%: shrinking)	100.00%	0.00%	Compare
NMRA Neumora Therapeutics, Inc.	$80.2M	— (loss-making)	—	—	n/m	+24.45% (above 0%: growing)	0.00%	0.00%	Compare
CLLS Cellectis S.A.	$79.9M	— (loss-making)	—	−62.05% (below 0%: shrinking)	n/m	−36.95% (below 0%: shrinking)	100.00%	(340.69%)	Compare
PMN Promis Neurosciences	$78.0M	— (loss-making)	—	0.00%	n/m	−169.46% (below 0%: shrinking)	0.00%	0.00%	Compare
Median of peers	$83.7M	—	—	−52.32%	—	−37.81%	0.00%	0.00%

All 614 Biotechnology stocks →

Aardvark Therapeutics, Inc. (AARD) key facts

Concern: Aardvark Therapeutics, Inc. reported a net loss of $57.6 million, or a loss of $2.93 per share, for fiscal 2025.
Aardvark Therapeutics, Inc. (AARD) is a Biotechnology company in the Healthcare sector, listed on Nasdaq.
As of October 16, 2026, AARD traded at $3.78, a market capitalization of $84.5 million.
Return on equity was −221.6% and debt-to-equity 0.00.

Source: company filings (standardised) and stockrow calculations.