Longeveron Inc.
LGVN Healthcare Biotechnology
Longeveron Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.2 million, down 49.9% from fiscal 2024. In the quarter to June 2026, revenue fell 9.18%, EPS grew 42.4% and free cash flow fell 49.1%, each against the same quarter a year earlier.
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Longeveron Inc. (LGVN) Altman Z-score
Longeveron Inc.'s Altman Z-score for fiscal 2025 is −24.10, 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 | −24.10 | (19.52) |
| FY2024 | −4.58 | 7.44 |
| FY2023 | −12.02 | (13.23) |
| FY2022 | 1.20 | (22.75) |
| FY2021 | 23.95 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.13 | — | 0.16 | |
| Retained earnings / total assets | (12.89) | — | −18.05 | |
| EBIT / total assets | (2.27) | — | −7.49 | |
| Market value of equity / total liabilities | 1.94 | — | 1.16 | |
| Sales / total assets | 0.12 | — | 0.12 | |
| Altman Z-score | Distress zone | −24.10 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −55.12 | ||
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 |
|---|---|
| CDIO Cardio Diagnostics Holdings, Inc. compare | −3.6× |
| LGVN Longeveron Inc. | −24.1× |
| PULM Pulmatrix, Inc. compare | −27.9× |
| XBIO Xenetic Biosciences, Inc. compare | −30.9× |
| PCSA Heatwurx Inc. compare | −251× |
| DRMA Dermata Therapeutics, Inc. compare | — |
| NCNA NuCana PLC Sponsored ADR compare | — |
| RVPH Reviva Pharmaceuticals Holdings, Inc. compare | — |
| ENLV Enlivex Ltd. 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