Aclaris Therapeutics, Inc.
ACRS Healthcare Biotechnology
Aclaris Therapeutics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $7.8 million, down 58.2% from fiscal 2024. In the quarter to June 2026, revenue fell 8.33%, EPS fell 15.4% and free cash flow fell 98.8%, each against the same quarter a year earlier.
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Aclaris Therapeutics, Inc. (ACRS) Altman Z-score
Aclaris Therapeutics, Inc.'s Altman Z-score for fiscal 2025 is −5.60, 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 | −5.60 | (0.11) |
| FY2024 | −5.49 | (0.24) |
| FY2023 | −5.25 | (12.25) |
| FY2022 | 7.00 | 1.42 |
| FY2021 | 5.59 | 12.14 |
| FY2020 | −6.55 | 1.19 |
| FY2019 | −7.74 | (8.34) |
| FY2018 | 0.60 | (21.47) |
| FY2017 | 22.06 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.42 | — | 0.51 | |
| Retained earnings / total assets | (6.03) | — | −8.44 | |
| EBIT / total assets | (0.48) | — | −1.57 | |
| Market value of equity / total liabilities | 6.43 | — | 3.86 | |
| Sales / total assets | 0.05 | — | 0.05 | |
| Altman Z-score | Distress zone | −5.60 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −18.21 | ||
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 |
|---|---|
| ENTX Entera Bio Ltd. compare | 6.2× |
| CTMX CytomX Therapeutics, Inc. compare | 0.9× |
| PBYI Puma Biotechnology, Inc. compare | −4.2× |
| ACRS Aclaris Therapeutics, Inc. | −5.6× |
| CYVNY Ceryvyn Therapeutics Ltd. - Unsponsored ADR compare | −30.4× |
| MNPR Monopar Therapeutics Inc. compare | — |
| FTH Faeth Therapeutics, Inc. compare | — |
| VECT VectivBio Holding AG compare | — |
| DRUG Bright Minds Biosciences 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