Abeona Therapeutics Inc.
ABEO Healthcare Biotechnology
Abeona Therapeutics Inc.’s revenue for fiscal 2025 (year ended December 2025) was $5.8 million, up 66.3% from fiscal 2023. In the quarter to June 2026, revenue grew 225.1%, EPS fell 116.9%, free cash flow grew 17.1% and total debt fell 23.4%, each against the same quarter a year earlier. Revenue growth for three consecutive years.
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Abeona Therapeutics Inc. (ABEO) Altman Z-score
Abeona Therapeutics Inc.'s Altman Z-score for fiscal 2025 is −2.32, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | −2.32 | 14.35 |
| FY2023 | −16.67 | (0.15) |
| FY2022 | −16.52 | (2.44) |
| FY2021 | −14.08 | (9.32) |
| FY2020 | −4.76 | (5.90) |
| FY2018 | 1.14 | (42.12) |
| FY2017 | 43.26 | 39.18 |
| FY2016 | 4.08 | 5.17 |
| FY2015 | −1.09 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.80 | — | 0.96 | |
| Retained earnings / total assets | (3.38) | — | −4.73 | |
| EBIT / total assets | (0.41) | — | −1.34 | |
| Market value of equity / total liabilities | 4.62 | — | 2.77 | |
| Sales / total assets | 0.03 | — | 0.03 | |
| Altman Z-score | Distress zone | −2.32 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −5.75 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| EYPT EyePoint, Inc. compare | 8.5× |
| XFOR X4 Pharmaceuticals, Inc. compare | −1.8× |
| ABEO Abeona Therapeutics Inc. | −2.3× |
| IPSC Century Therapeutics, Inc. compare | −3.4× |
| PRLD Prelude Therapeutics Incorporated compare | −6.8× |
| PALI Palisade Bio, Inc. compare | −13.4× |
| NAUT Nautilus Biotechnology, Inc. compare | — |
| CABA Cabaletta Bio, Inc. compare | — |
| RCKT Rocket Pharmaceuticals, Inc. compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets