Armata Pharmaceuticals, Inc. (ARMP) 10-Year Financial Performance & Capital Metrics

ARMP • • Industrial / General

HealthcareBiotechnologyInfectious DiseasesAntibiotics & Bacterial Infections

AboutArmata Pharmaceuticals, Inc., a clinical-stage biotechnology company, focuses on the development of targeted bacteriophage therapeutics for antibiotic-resistant infections worldwide. It develops its products using its proprietary bacteriophage-based technology. The company's product candidates include AP-SA02 for the treatment of Staphylococcus aureus bacteremia; AP-PA02 for Pseudomonas aeruginosa; and AP-PA03 for the treatment of pneumonia. It has a partnership agreement with Merck & Co. for developing synthetic bacteriophage candidates to target undisclosed infectious disease agents. The company is headquartered in Marina del Rey, California.Show more

Revenue $5M +14.2%
EBITDA -$41M -3.0%
Net Income -$19M +72.6%
EPS (Diluted) -0.52 +72.6%
Gross Margin -565.37% -819.9%
EBITDA Margin -794.57% +9.9%
Operating Margin -820.18% +9.2%
Net Margin -365.6% +76.0%
ROE -
ROIC -44.21% -4.4%
Debt/Equity -
Interest Coverage -3.95 +74.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 96 (top 4%)
✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

✗Weak Piotroski F-Score: 2/9
✗Negative free cash flow
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y28.89%

5Y-

3Y4.96%

TTM-7.55%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-13.39%

EPS CAGR

10Y-

5Y-

3Y-

TTM19.15%

ROCE

10Y Avg-84.25%

5Y Avg-59.96%

3Y Avg-56.74%

Latest-70.67%

Peer Comparison

Antibiotics & Bacterial Infections

Name	Market Cap	Current Price	P/E Ratio	Net Margin	ROE	Debt/Equity
PLRZPolyrizon Ltd.	15.73M	15.10	30.20		-5.21%
TOVXTheriva Biologics, Inc.	7.14M	0.20	-0.01		-388.69%	0.08
CTXRCitius Pharmaceuticals, Inc.	17.92M	0.86	-0.14	-258.23%	-59.6%	0.00
ACXPAcurx Pharmaceuticals, Inc.	6.43M	2.74	-0.16		-0.25%
ITRMIterum Therapeutics plc	17.37M	0.33	-0.26	-69.13%
ANTXAN2 Therapeutics, Inc.	35.9M	1.31	-0.76		-56.29%
MCRBSeres Therapeutics, Inc.	145.47M	16.08	-0.85	15.37%	12.34%	6.65
PYPDPolyPid Ltd.	72.19M	4.34	-0.88		-10.39%	1.25

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	475K	260K	115K	0	0	823K	4.47M	5.51M	4.53M	5.17M
Revenue Growth %	0.16%	-0.45%	-0.56%	-1%	-	-	4.44%	0.23%	-0.18%	0.14%
Cost of Goods Sold+	0	369K	374K	1.35M	1.35M	14.44M	20.02M	35.02M	972K	34.43M
COGS % of Revenue	-	1.42%	3.25%	-	-	17.55%	4.47%	6.36%	0.21%	6.65%
Gross Profit+	475K	-109K	-259K	-1.35M	-1.35M	-13.62M	-15.54M	-29.51M	3.56M	-29.25M
Gross Margin %	1%	-0.42%	-2.25%	-	-	-16.55%	-3.47%	-5.36%	0.79%	-5.65%
Gross Profit Growth %	0.16%	-1.23%	-1.38%	-4.22%	0%	-9.08%	-0.14%	-0.9%	1.12%	-9.22%
Operating Expenses+	10.7M	23.64M	16.27M	9.54M	17.74M	7.97M	8.28M	7.44M	44.45M	13.18M
OpEx % of Revenue	22.53%	90.92%	141.49%	-	-	9.68%	1.85%	1.35%	9.81%	2.55%
Selling, General & Admin	6.42M	8.41M	7.59M	5.7M	7.91M	7.97M	8.28M	7.44M	10.68M	13.18M
SG&A % of Revenue	13.52%	32.36%	66%	-	-	9.68%	1.85%	1.35%	2.36%	2.55%
Research & Development	3.99M	5.68M	2.88M	4.89M	9.82M	14.44M	20.02M	35.02M	33.77M	34.43M
R&D % of Revenue	8.4%	21.84%	25.05%	-	-	17.55%	4.47%	6.36%	7.46%	6.65%
Other Operating Expenses	289K	-554K	6K	-1.4M	0	-14.44M	-20.02M	-35.02M	0	-34.43M
Operating Income+	-10.23M	-23.38M	-16.16M	-12.52M	-19.09M	-21.59M	-23.82M	-36.95M	-40.89M	-42.44M
Operating Margin %	-21.53%	-89.92%	-140.49%	-	-	-26.23%	-5.32%	-6.71%	-9.03%	-8.2%
Operating Income Growth %	0.28%	-1.29%	0.31%	0.22%	-0.52%	-0.13%	-0.1%	-0.55%	-0.11%	-0.04%
EBITDA+	-9.9M	-23.01M	-15.78M	-11.17M	-17.74M	-20.47M	-22.65M	-36.05M	-39.92M	-41.11M
EBITDA Margin %	-20.84%	-88.5%	-137.23%	-	-	-24.88%	-5.06%	-6.55%	-8.81%	-7.95%
EBITDA Growth %	0.29%	-1.32%	0.31%	0.29%	-0.59%	-0.15%	-0.11%	-0.59%	-0.11%	-0.03%
D&A (Non-Cash Add-back)	330K	369K	374K	1.35M	1.35M	1.11M	1.17M	892K	972K	1.32M
EBIT	-10.23M	-13.83M	-10.36M	-10.89M	-18.55M	-21.55M	-23.09M	-36.95M	-66.42M	-42.44M
Net Interest Income+	0	0	0	0	-835K	-600K	-59K	0	-2.45M	-10.04M
Interest Income	0	0	0	0	96K	28K	5K	29K	179K	697K
Interest Expense	0	0	0	0	931K	628K	64K	29K	2.63M	10.74M
Other Income/Expense	9.64M	3.98M	2.02M	956K	-390K	-594K	667K	29K	-28.16M	23.52M
Pretax Income+	-589K	-19.39M	-14.14M	-16.7M	-19.48M	-22.18M	-23.16M	-36.92M	-69.05M	-18.92M
Pretax Margin %	-1.24%	-74.59%	-122.96%	-	-	-26.95%	-5.18%	-6.7%	-15.25%	-3.66%
Income Tax+	-73K	-556K	-1.3M	-328K	0	0	0	0	0	0
Effective Tax Rate %	0.88%	0.97%	0.91%	0.73%	1%	1%	1%	1%	1%	1%
Net Income+	-516K	-18.84M	-12.84M	-12.11M	-19.48M	-22.18M	-23.16M	-36.92M	-69.05M	-18.92M
Net Margin %	-1.09%	-72.45%	-111.63%	-	-	-26.95%	-5.18%	-6.7%	-15.25%	-3.66%
Net Income Growth %	-1.02%	-35.51%	0.32%	0.06%	-0.61%	-0.14%	-0.04%	-0.59%	-0.87%	0.73%
Net Income (Continuing)	-516K	-18.84M	-12.84M	-16.7M	-19.48M	-22.18M	-23.16M	-36.92M	-69.05M	-18.92M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-278.60	-345.80	-27.34	-8.90	-2.43	-1.35	-0.96	-1.08	-1.91	-0.52
EPS Growth %	0.15%	-0.24%	0.92%	0.67%	0.73%	0.44%	0.29%	-0.13%	-0.77%	0.73%
EPS (Basic)	-278.60	-345.80	-28.14	-8.90	-2.43	-1.35	-0.96	-1.08	-1.91	-0.52
Diluted Shares Outstanding	38.65K	70.28K	456.24K	1.36M	8.01M	16.41M	24.1M	34.29M	36.08M	36.16M
Basic Shares Outstanding	38.65K	70.28K	456.25K	1.36M	7.83M	16.41M	24.1M	34.29M	36.08M	36.16M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	10.02M	6.36M	5.38M	8.41M	6.66M	10.85M	14.99M	27.05M	19.15M	11.31M
Cash & Short-Term Investments	9.37M	5.71M	5.13M	8.16M	6.03M	9.65M	10.29M	14.85M	13.52M	9.29M
Cash Only	9.37M	5.71M	5.13M	8.16M	6.03M	9.65M	10.29M	14.85M	13.52M	9.29M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	125K	25K	0	0	0	561K	2.99M	1.94M	3.36M	744K
Days Sales Outstanding	96.05	35.1	-	-	-	248.8	243.85	128.29	271.03	52.49
Inventory	0	-619K	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	521K	602K	253K	0	622K	0	0	10.26M	2.27M	1.27M
Total Non-Current Assets+	21.48M	11.84M	5.75M	3.48M	18.8M	28.67M	54.77M	80.83M	79.21M	75.13M
Property, Plant & Equipment	1.13M	1.07M	816K	503K	4.21M	12.84M	38.07M	46.65M	57.28M	54.93M
Fixed Asset Turnover	0.42x	0.24x	0.14x	-	-	0.06x	0.12x	0.12x	0.08x	0.09x
Goodwill	7.56M	0	0	0	3.49M	3.49M	3.49M	3.49M	3.49M	3.49M
Intangible Assets	12.78M	10.77M	4.94M	2.98M	10.26M	10.26M	10.26M	10.26M	10.26M	10.26M
Long-Term Investments	0	0	0	800K	700K	1.2M	0	5.96M	0	5.48M
Other Non-Current Assets	0	0	0	136K	135K	-2.13M	2.96M	2.43M	8.19M	975K
Total Assets+	31.49M	18.2M	11.14M	11.89M	25.45M	39.52M	69.77M	107.88M	98.36M	86.44M
Asset Turnover	0.02x	0.01x	0.01x	-	-	0.02x	0.06x	0.05x	0.05x	0.06x
Asset Growth %	0.1%	-0.42%	-0.39%	0.07%	1.14%	0.55%	0.77%	0.55%	-0.09%	-0.12%
Total Current Liabilities+	2.38M	3.58M	1.97M	2.57M	4.88M	6.71M	4.81M	24.87M	16.46M	48.25M
Accounts Payable	1.04M	1.06M	578K	729K	547K	956K	1.14M	6.03M	1.58M	766K
Days Payables Outstanding	-	1.04K	564.09	196.95	147.78	24.16	20.75	62.9	595.19	8.12
Short-Term Debt	0	803K	0	0	1.31M	722K	0	17.01M	0	38.95M
Deferred Revenue (Current)	245K	933K	0	0	0	0	0	0	0	0
Other Current Liabilities	420K	826K	340K	1.35M	1.7M	1.94M	0	0	1.29M	529K
Current Ratio	4.20x	1.78x	2.74x	3.27x	1.36x	1.62x	3.11x	1.09x	1.16x	0.23x
Quick Ratio	4.20x	1.95x	2.74x	3.27x	1.36x	1.62x	3.11x	1.09x	1.16x	0.23x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	16.39M	4.89M	1.44M	841K	5.98M	13.95M	39.56M	46.92M	113.97M	86.21M
Long-Term Debt	0	0	0	0	0	0	0	0	82.31M	55.44M
Capital Lease Obligations	0	0	0	0	1.55M	10.88M	36.48M	31.8M	28.58M	27.69M
Deferred Tax Liabilities	3M	2.45M	1.15M	819K	3.08M	3.08M	3.08M	15.12M	3.08M	3.08M
Other Non-Current Liabilities	13.39M	2.44M	292K	22K	1.35M	0	0	0	0	0
Total Liabilities	18.78M	8.47M	3.41M	3.41M	10.86M	20.66M	44.37M	71.8M	130.43M	134.46M
Total Debt+	0	803K	0	0	2.86M	13.15M	37.99M	48.81M	120.37M	126.52M
Net Debt	-9.37M	-4.91M	-5.13M	-8.16M	-3.17M	3.5M	27.7M	33.96M	106.85M	117.22M
Debt / Equity	-	0.08x	-	-	0.20x	0.70x	1.50x	1.35x	-	-
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-	-	-	-	-20.50x	-34.37x	-372.22x	-1274.00x	-15.57x	-3.95x
Total Equity+	12.71M	9.72M	7.73M	8.47M	14.59M	18.86M	25.4M	36.08M	-32.06M	-48.02M
Equity Growth %	2.7%	-0.24%	-0.2%	0.1%	0.72%	0.29%	0.35%	0.42%	-1.89%	-0.5%
Book Value per Share	328.94	138.36	16.94	6.23	1.82	1.15	1.05	1.05	-0.89	-1.33
Total Shareholders' Equity	12.71M	9.72M	7.73M	8.47M	14.59M	18.86M	25.4M	36.08M	-32.06M	-48.02M
Common Stock	59K	165K	95K	323K	99K	187K	271K	361K	361K	362K
Retained Earnings	-362.52M	-381.36M	-394.21M	-406.32M	-157.52M	-179.7M	-202.86M	-239.77M	-308.82M	-327.74M
Treasury Stock	0	0	-401.84M	0	0	0	0	0	0	0
Accumulated OCI	-1.49M	-18.2M	-11.14M	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-9.78M	-10.59M	-9.19M	-9.38M	-15.58M	-18.27M	-23.57M	-32.48M	-47.42M	-37.55M
Operating CF Margin %	-20.59%	-40.73%	-79.93%	-	-	-22.2%	-5.27%	-5.9%	-10.47%	-7.26%
Operating CF Growth %	0.22%	-0.08%	0.13%	-0.02%	-0.66%	-0.17%	-0.29%	-0.38%	-0.46%	0.21%
Net Income	-516K	-18.84M	-12.84M	-12.11M	-19.48M	-22.18M	-23.16M	-36.92M	-69.05M	-18.92M
Depreciation & Amortization	330K	369K	374K	389K	1.35M	1.11M	1.17M	892K	972K	1.32M
Stock-Based Compensation	483K	2M	700K	478K	4.27M	3.48M	2.88M	0	938K	2.89M
Deferred Taxes	-73K	-556K	-1.3M	-328K	-454K	0	0	0	0	0
Other Non-Cash Items	-9.85M	5.77M	4.33M	1.84M	918K	196K	-1.25M	3.1M	29.36M	-20.75M
Working Capital Changes	-158K	670K	-457K	345K	-2.19M	-874K	-3.22M	439K	-9.65M	-2.1M
Change in Receivables	-25K	100K	381K	0	0	-467K	-2.43M	1.05M	0	0
Change in Inventory	0	105K	0	0	0	0	0	0	0	0
Change in Payables	296K	298K	-838K	343K	-1.37M	544K	184K	3.67M	39K	-3.75M
Cash from Investing+	-210K	-279K	-58K	-44K	2.88M	-824K	-1.3M	-2.21M	-8.13M	-1.88M
Capital Expenditures	-210K	-279K	-58K	-44K	-131K	-824K	-1.3M	-2.21M	-8.14M	-1.88M
CapEx % of Revenue	0.44%	1.07%	0.5%	-	-	1%	0.29%	0.4%	1.8%	0.36%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	-1.91M	9.69M	0	0	0	0	10K	0
Cash from Financing+	12.78M	7.21M	8.67M	12.45M	8.97M	23.21M	25.52M	44.02M	53.99M	34.96M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	-80K	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	396K	13K	133K	203K	-1M	-400K	-801K	-500K	-43K	-61K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-9.99M	-10.87M	-9.25M	-9.43M	-15.71M	-19.09M	-24.88M	-34.69M	-55.57M	-39.43M
FCF Margin %	-21.03%	-41.8%	-80.43%	-	-	-23.2%	-5.56%	-6.3%	-12.27%	-7.62%
FCF Growth %	0.27%	-0.09%	0.15%	-0.02%	-0.67%	-0.22%	-0.3%	-0.39%	-0.6%	0.29%
FCF per Share	-258.49	-154.65	-20.27	-6.93	-1.96	-1.16	-1.03	-1.01	-1.54	-1.09
FCF Conversion (FCF/Net Income)	18.96x	0.56x	0.72x	0.77x	0.80x	0.82x	1.02x	0.88x	0.69x	1.99x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-6.39%	-167.92%	-147.11%	-149.46%	-168.89%	-132.62%	-104.65%	-120.1%	-3439.35%	-
Return on Invested Capital (ROIC)	-7670.25%	-429.8%	-326.87%	-644.24%	-243.9%	-95.85%	-47.36%	-45%	-42.35%	-44.21%
Gross Margin	100%	-41.92%	-225.22%	-	-	-1655.04%	-347.36%	-535.75%	78.54%	-565.37%
Net Margin	-108.63%	-7245.38%	-11163.48%	-	-	-2695.14%	-517.55%	-670.24%	-1524.51%	-365.6%
Debt / Equity	-	0.08x	-	-	0.20x	0.70x	1.50x	1.35x	-	-
Interest Coverage	-	-	-	-	-20.50x	-34.37x	-372.22x	-1274.00x	-15.57x	-3.95x
FCF Conversion	18.96x	0.56x	0.72x	0.77x	0.80x	0.82x	1.02x	0.88x	0.69x	1.99x
Revenue Growth	16.14%	-45.26%	-55.77%	-100%	-	-	443.62%	23.11%	-17.77%	14.24%

Frequently Asked Questions

Growth & Financials

Armata Pharmaceuticals, Inc. (ARMP) reported $5.1M in revenue for fiscal year 2024. This represents a 42% decrease from $8.7M in 2008.

Armata Pharmaceuticals, Inc. (ARMP) grew revenue by 14.2% over the past year. This is steady growth.

Armata Pharmaceuticals, Inc. (ARMP) reported a net loss of $46.9M for fiscal year 2024.

Dividend & Returns

Armata Pharmaceuticals, Inc. (ARMP) had negative free cash flow of $27.4M in fiscal year 2024, likely due to heavy capital investments.

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Armata Pharmaceuticals, Inc. (ARMP) 10-Year Financial Performance & Capital Metrics

ARMP • • Industrial / General

HealthcareBiotechnologyInfectious DiseasesAntibiotics & Bacterial Infections

Revenue $5M +14.2%
EBITDA -$41M -3.0%
Net Income -$19M +72.6%
EPS (Diluted) -0.52 +72.6%
Gross Margin -565.37% -819.9%
EBITDA Margin -794.57% +9.9%
Operating Margin -820.18% +9.2%
Net Margin -365.6% +76.0%
ROE -
ROIC -44.21% -4.4%
Debt/Equity -
Interest Coverage -3.95 +74.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 96 (top 4%)
✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

✗Weak Piotroski F-Score: 2/9
✗Negative free cash flow
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y28.89%

5Y-

3Y4.96%

TTM-7.55%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-13.39%

EPS CAGR

10Y-

5Y-

3Y-

TTM19.15%

ROCE

10Y Avg-84.25%

5Y Avg-59.96%

3Y Avg-56.74%

Latest-70.67%

Peer Comparison

Antibiotics & Bacterial Infections

Name	Market Cap	Current Price	P/E Ratio	Net Margin	ROE	Debt/Equity
PLRZPolyrizon Ltd.	15.73M	15.10	30.20		-5.21%
TOVXTheriva Biologics, Inc.	7.14M	0.20	-0.01		-388.69%	0.08
CTXRCitius Pharmaceuticals, Inc.	17.92M	0.86	-0.14	-258.23%	-59.6%	0.00
ACXPAcurx Pharmaceuticals, Inc.	6.43M	2.74	-0.16		-0.25%
ITRMIterum Therapeutics plc	17.37M	0.33	-0.26	-69.13%
ANTXAN2 Therapeutics, Inc.	35.9M	1.31	-0.76		-56.29%
MCRBSeres Therapeutics, Inc.	145.47M	16.08	-0.85	15.37%	12.34%	6.65
PYPDPolyPid Ltd.	72.19M	4.34	-0.88		-10.39%	1.25

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	475K	260K	115K	0	0	823K	4.47M	5.51M	4.53M	5.17M
Revenue Growth %	0.16%	-0.45%	-0.56%	-1%	-	-	4.44%	0.23%	-0.18%	0.14%
Cost of Goods Sold+	0	369K	374K	1.35M	1.35M	14.44M	20.02M	35.02M	972K	34.43M
COGS % of Revenue	-	1.42%	3.25%	-	-	17.55%	4.47%	6.36%	0.21%	6.65%
Gross Profit+	475K	-109K	-259K	-1.35M	-1.35M	-13.62M	-15.54M	-29.51M	3.56M	-29.25M
Gross Margin %	1%	-0.42%	-2.25%	-	-	-16.55%	-3.47%	-5.36%	0.79%	-5.65%
Gross Profit Growth %	0.16%	-1.23%	-1.38%	-4.22%	0%	-9.08%	-0.14%	-0.9%	1.12%	-9.22%
Operating Expenses+	10.7M	23.64M	16.27M	9.54M	17.74M	7.97M	8.28M	7.44M	44.45M	13.18M
OpEx % of Revenue	22.53%	90.92%	141.49%	-	-	9.68%	1.85%	1.35%	9.81%	2.55%
Selling, General & Admin	6.42M	8.41M	7.59M	5.7M	7.91M	7.97M	8.28M	7.44M	10.68M	13.18M
SG&A % of Revenue	13.52%	32.36%	66%	-	-	9.68%	1.85%	1.35%	2.36%	2.55%
Research & Development	3.99M	5.68M	2.88M	4.89M	9.82M	14.44M	20.02M	35.02M	33.77M	34.43M
R&D % of Revenue	8.4%	21.84%	25.05%	-	-	17.55%	4.47%	6.36%	7.46%	6.65%
Other Operating Expenses	289K	-554K	6K	-1.4M	0	-14.44M	-20.02M	-35.02M	0	-34.43M
Operating Income+	-10.23M	-23.38M	-16.16M	-12.52M	-19.09M	-21.59M	-23.82M	-36.95M	-40.89M	-42.44M
Operating Margin %	-21.53%	-89.92%	-140.49%	-	-	-26.23%	-5.32%	-6.71%	-9.03%	-8.2%
Operating Income Growth %	0.28%	-1.29%	0.31%	0.22%	-0.52%	-0.13%	-0.1%	-0.55%	-0.11%	-0.04%
EBITDA+	-9.9M	-23.01M	-15.78M	-11.17M	-17.74M	-20.47M	-22.65M	-36.05M	-39.92M	-41.11M
EBITDA Margin %	-20.84%	-88.5%	-137.23%	-	-	-24.88%	-5.06%	-6.55%	-8.81%	-7.95%
EBITDA Growth %	0.29%	-1.32%	0.31%	0.29%	-0.59%	-0.15%	-0.11%	-0.59%	-0.11%	-0.03%
D&A (Non-Cash Add-back)	330K	369K	374K	1.35M	1.35M	1.11M	1.17M	892K	972K	1.32M
EBIT	-10.23M	-13.83M	-10.36M	-10.89M	-18.55M	-21.55M	-23.09M	-36.95M	-66.42M	-42.44M
Net Interest Income+	0	0	0	0	-835K	-600K	-59K	0	-2.45M	-10.04M
Interest Income	0	0	0	0	96K	28K	5K	29K	179K	697K
Interest Expense	0	0	0	0	931K	628K	64K	29K	2.63M	10.74M
Other Income/Expense	9.64M	3.98M	2.02M	956K	-390K	-594K	667K	29K	-28.16M	23.52M
Pretax Income+	-589K	-19.39M	-14.14M	-16.7M	-19.48M	-22.18M	-23.16M	-36.92M	-69.05M	-18.92M
Pretax Margin %	-1.24%	-74.59%	-122.96%	-	-	-26.95%	-5.18%	-6.7%	-15.25%	-3.66%
Income Tax+	-73K	-556K	-1.3M	-328K	0	0	0	0	0	0
Effective Tax Rate %	0.88%	0.97%	0.91%	0.73%	1%	1%	1%	1%	1%	1%
Net Income+	-516K	-18.84M	-12.84M	-12.11M	-19.48M	-22.18M	-23.16M	-36.92M	-69.05M	-18.92M
Net Margin %	-1.09%	-72.45%	-111.63%	-	-	-26.95%	-5.18%	-6.7%	-15.25%	-3.66%
Net Income Growth %	-1.02%	-35.51%	0.32%	0.06%	-0.61%	-0.14%	-0.04%	-0.59%	-0.87%	0.73%
Net Income (Continuing)	-516K	-18.84M	-12.84M	-16.7M	-19.48M	-22.18M	-23.16M	-36.92M	-69.05M	-18.92M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-278.60	-345.80	-27.34	-8.90	-2.43	-1.35	-0.96	-1.08	-1.91	-0.52
EPS Growth %	0.15%	-0.24%	0.92%	0.67%	0.73%	0.44%	0.29%	-0.13%	-0.77%	0.73%
EPS (Basic)	-278.60	-345.80	-28.14	-8.90	-2.43	-1.35	-0.96	-1.08	-1.91	-0.52
Diluted Shares Outstanding	38.65K	70.28K	456.24K	1.36M	8.01M	16.41M	24.1M	34.29M	36.08M	36.16M
Basic Shares Outstanding	38.65K	70.28K	456.25K	1.36M	7.83M	16.41M	24.1M	34.29M	36.08M	36.16M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	10.02M	6.36M	5.38M	8.41M	6.66M	10.85M	14.99M	27.05M	19.15M	11.31M
Cash & Short-Term Investments	9.37M	5.71M	5.13M	8.16M	6.03M	9.65M	10.29M	14.85M	13.52M	9.29M
Cash Only	9.37M	5.71M	5.13M	8.16M	6.03M	9.65M	10.29M	14.85M	13.52M	9.29M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	125K	25K	0	0	0	561K	2.99M	1.94M	3.36M	744K
Days Sales Outstanding	96.05	35.1	-	-	-	248.8	243.85	128.29	271.03	52.49
Inventory	0	-619K	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	521K	602K	253K	0	622K	0	0	10.26M	2.27M	1.27M
Total Non-Current Assets+	21.48M	11.84M	5.75M	3.48M	18.8M	28.67M	54.77M	80.83M	79.21M	75.13M
Property, Plant & Equipment	1.13M	1.07M	816K	503K	4.21M	12.84M	38.07M	46.65M	57.28M	54.93M
Fixed Asset Turnover	0.42x	0.24x	0.14x	-	-	0.06x	0.12x	0.12x	0.08x	0.09x
Goodwill	7.56M	0	0	0	3.49M	3.49M	3.49M	3.49M	3.49M	3.49M
Intangible Assets	12.78M	10.77M	4.94M	2.98M	10.26M	10.26M	10.26M	10.26M	10.26M	10.26M
Long-Term Investments	0	0	0	800K	700K	1.2M	0	5.96M	0	5.48M
Other Non-Current Assets	0	0	0	136K	135K	-2.13M	2.96M	2.43M	8.19M	975K
Total Assets+	31.49M	18.2M	11.14M	11.89M	25.45M	39.52M	69.77M	107.88M	98.36M	86.44M
Asset Turnover	0.02x	0.01x	0.01x	-	-	0.02x	0.06x	0.05x	0.05x	0.06x
Asset Growth %	0.1%	-0.42%	-0.39%	0.07%	1.14%	0.55%	0.77%	0.55%	-0.09%	-0.12%
Total Current Liabilities+	2.38M	3.58M	1.97M	2.57M	4.88M	6.71M	4.81M	24.87M	16.46M	48.25M
Accounts Payable	1.04M	1.06M	578K	729K	547K	956K	1.14M	6.03M	1.58M	766K
Days Payables Outstanding	-	1.04K	564.09	196.95	147.78	24.16	20.75	62.9	595.19	8.12
Short-Term Debt	0	803K	0	0	1.31M	722K	0	17.01M	0	38.95M
Deferred Revenue (Current)	245K	933K	0	0	0	0	0	0	0	0
Other Current Liabilities	420K	826K	340K	1.35M	1.7M	1.94M	0	0	1.29M	529K
Current Ratio	4.20x	1.78x	2.74x	3.27x	1.36x	1.62x	3.11x	1.09x	1.16x	0.23x
Quick Ratio	4.20x	1.95x	2.74x	3.27x	1.36x	1.62x	3.11x	1.09x	1.16x	0.23x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	16.39M	4.89M	1.44M	841K	5.98M	13.95M	39.56M	46.92M	113.97M	86.21M
Long-Term Debt	0	0	0	0	0	0	0	0	82.31M	55.44M
Capital Lease Obligations	0	0	0	0	1.55M	10.88M	36.48M	31.8M	28.58M	27.69M
Deferred Tax Liabilities	3M	2.45M	1.15M	819K	3.08M	3.08M	3.08M	15.12M	3.08M	3.08M
Other Non-Current Liabilities	13.39M	2.44M	292K	22K	1.35M	0	0	0	0	0
Total Liabilities	18.78M	8.47M	3.41M	3.41M	10.86M	20.66M	44.37M	71.8M	130.43M	134.46M
Total Debt+	0	803K	0	0	2.86M	13.15M	37.99M	48.81M	120.37M	126.52M
Net Debt	-9.37M	-4.91M	-5.13M	-8.16M	-3.17M	3.5M	27.7M	33.96M	106.85M	117.22M
Debt / Equity	-	0.08x	-	-	0.20x	0.70x	1.50x	1.35x	-	-
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-	-	-	-	-20.50x	-34.37x	-372.22x	-1274.00x	-15.57x	-3.95x
Total Equity+	12.71M	9.72M	7.73M	8.47M	14.59M	18.86M	25.4M	36.08M	-32.06M	-48.02M
Equity Growth %	2.7%	-0.24%	-0.2%	0.1%	0.72%	0.29%	0.35%	0.42%	-1.89%	-0.5%
Book Value per Share	328.94	138.36	16.94	6.23	1.82	1.15	1.05	1.05	-0.89	-1.33
Total Shareholders' Equity	12.71M	9.72M	7.73M	8.47M	14.59M	18.86M	25.4M	36.08M	-32.06M	-48.02M
Common Stock	59K	165K	95K	323K	99K	187K	271K	361K	361K	362K
Retained Earnings	-362.52M	-381.36M	-394.21M	-406.32M	-157.52M	-179.7M	-202.86M	-239.77M	-308.82M	-327.74M
Treasury Stock	0	0	-401.84M	0	0	0	0	0	0	0
Accumulated OCI	-1.49M	-18.2M	-11.14M	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-9.78M	-10.59M	-9.19M	-9.38M	-15.58M	-18.27M	-23.57M	-32.48M	-47.42M	-37.55M
Operating CF Margin %	-20.59%	-40.73%	-79.93%	-	-	-22.2%	-5.27%	-5.9%	-10.47%	-7.26%
Operating CF Growth %	0.22%	-0.08%	0.13%	-0.02%	-0.66%	-0.17%	-0.29%	-0.38%	-0.46%	0.21%
Net Income	-516K	-18.84M	-12.84M	-12.11M	-19.48M	-22.18M	-23.16M	-36.92M	-69.05M	-18.92M
Depreciation & Amortization	330K	369K	374K	389K	1.35M	1.11M	1.17M	892K	972K	1.32M
Stock-Based Compensation	483K	2M	700K	478K	4.27M	3.48M	2.88M	0	938K	2.89M
Deferred Taxes	-73K	-556K	-1.3M	-328K	-454K	0	0	0	0	0
Other Non-Cash Items	-9.85M	5.77M	4.33M	1.84M	918K	196K	-1.25M	3.1M	29.36M	-20.75M
Working Capital Changes	-158K	670K	-457K	345K	-2.19M	-874K	-3.22M	439K	-9.65M	-2.1M
Change in Receivables	-25K	100K	381K	0	0	-467K	-2.43M	1.05M	0	0
Change in Inventory	0	105K	0	0	0	0	0	0	0	0
Change in Payables	296K	298K	-838K	343K	-1.37M	544K	184K	3.67M	39K	-3.75M
Cash from Investing+	-210K	-279K	-58K	-44K	2.88M	-824K	-1.3M	-2.21M	-8.13M	-1.88M
Capital Expenditures	-210K	-279K	-58K	-44K	-131K	-824K	-1.3M	-2.21M	-8.14M	-1.88M
CapEx % of Revenue	0.44%	1.07%	0.5%	-	-	1%	0.29%	0.4%	1.8%	0.36%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	-1.91M	9.69M	0	0	0	0	10K	0
Cash from Financing+	12.78M	7.21M	8.67M	12.45M	8.97M	23.21M	25.52M	44.02M	53.99M	34.96M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	-80K	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	396K	13K	133K	203K	-1M	-400K	-801K	-500K	-43K	-61K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-9.99M	-10.87M	-9.25M	-9.43M	-15.71M	-19.09M	-24.88M	-34.69M	-55.57M	-39.43M
FCF Margin %	-21.03%	-41.8%	-80.43%	-	-	-23.2%	-5.56%	-6.3%	-12.27%	-7.62%
FCF Growth %	0.27%	-0.09%	0.15%	-0.02%	-0.67%	-0.22%	-0.3%	-0.39%	-0.6%	0.29%
FCF per Share	-258.49	-154.65	-20.27	-6.93	-1.96	-1.16	-1.03	-1.01	-1.54	-1.09
FCF Conversion (FCF/Net Income)	18.96x	0.56x	0.72x	0.77x	0.80x	0.82x	1.02x	0.88x	0.69x	1.99x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-6.39%	-167.92%	-147.11%	-149.46%	-168.89%	-132.62%	-104.65%	-120.1%	-3439.35%	-
Return on Invested Capital (ROIC)	-7670.25%	-429.8%	-326.87%	-644.24%	-243.9%	-95.85%	-47.36%	-45%	-42.35%	-44.21%
Gross Margin	100%	-41.92%	-225.22%	-	-	-1655.04%	-347.36%	-535.75%	78.54%	-565.37%
Net Margin	-108.63%	-7245.38%	-11163.48%	-	-	-2695.14%	-517.55%	-670.24%	-1524.51%	-365.6%
Debt / Equity	-	0.08x	-	-	0.20x	0.70x	1.50x	1.35x	-	-
Interest Coverage	-	-	-	-	-20.50x	-34.37x	-372.22x	-1274.00x	-15.57x	-3.95x
FCF Conversion	18.96x	0.56x	0.72x	0.77x	0.80x	0.82x	1.02x	0.88x	0.69x	1.99x
Revenue Growth	16.14%	-45.26%	-55.77%	-100%	-	-	443.62%	23.11%	-17.77%	14.24%

Frequently Asked Questions

Growth & Financials

Armata Pharmaceuticals, Inc. (ARMP) reported $5.1M in revenue for fiscal year 2024. This represents a 42% decrease from $8.7M in 2008.

Armata Pharmaceuticals, Inc. (ARMP) grew revenue by 14.2% over the past year. This is steady growth.

Armata Pharmaceuticals, Inc. (ARMP) reported a net loss of $46.9M for fiscal year 2024.

Dividend & Returns

Armata Pharmaceuticals, Inc. (ARMP) had negative free cash flow of $27.4M in fiscal year 2024, likely due to heavy capital investments.