CervoMed Inc.
CRVO Healthcare Biotechnology
CervoMed Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.0 million, down 58.9% from fiscal 2024. In the quarter to June 2026, revenue fell 99.6%, EPS grew 8.57% and free cash flow fell 6.20%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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CervoMed Inc. (CRVO) Beneish M-score
CervoMed Inc.'s Beneish M-score for fiscal 2025 is −4.94; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2025 | −4.94 | (3.76) |
| FY2024 | −1.18 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.46 | — | 0.42 | |
| Gross margin index | 1.00 | — | 0.53 | |
| Asset quality index Asset quality not computable — index set to 1 | 1.00 | — | Set to 1 | 0.40 |
| Sales growth index | 0.41 | — | 0.37 | |
| Depreciation index Depreciation not reported — index set to 1 | 1.00 | — | Set to 1 | 0.12 |
| SG&A index | 2.78 | — | −0.48 | |
| Total accruals to total assets | (0.15) | — | −0.72 | |
| Leverage index | 2.26 | — | −0.74 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −4.94 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| CRVO CervoMed Inc. | −4.9× |
| EDSA Edesa Biotech, Inc. compare | −4.4× |
| IRLA Quince Therapeutics, Inc. compare | — |
| ALGS Aligos Therapeutics, Inc. compare | — |
| BCTX BRIACELL THERAP compare | — |
| GNTA Genenta Science S.p.A. Unsponsored ADR compare | — |
| NNVC NanoViricides, Inc. compare | — |
| ATNM Actinium Pharmaceuticals, Inc. compare | — |
| LIANY LianBio Sponsored ADR compare | — |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI