Fate Therapeutics, Inc. (FATE) 10-Year Financial Performance & Capital Metrics

FATE • • Industrial / General

HealthcareBiotechnologyOncology TherapeuticsHematologic Oncology

AboutFate Therapeutics, Inc., a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its NK- and T-cell immuno-oncology programs under development include FT516 for the treatment of acute myeloid leukemia (AML) B-cell lymphoma, and advanced solid tumor; FT596 to treat B-cell lymphoma and chronic lymphocytic leukemia; FT538 to treat AML and multiple myeloma; FT576 to treat multiple myeloma; FT819 to treat hematologic malignancies and solid tumors; FT536 to treat solid tumors; and FT500 for the treatment of advanced solid tumors. The company has a collaboration and option agreement with Ono Pharmaceutical Co. Ltd. for the development and commercialization of two off-the-shelf iPSC-derived CAR T-cell product candidates; strategic research collaboration and license agreement with Juno Therapeutics, Inc. to screen for and identify small molecule modulators that enhance the therapeutic properties of genetically-engineered T-cell immunotherapies; and a collaboration and option agreement with Janssen Biotech, Inc. Fate Therapeutics, Inc. was incorporated in 2007 and is headquartered in San Diego, California.Show more

Revenue $14M -78.5%
EBITDA -$191M -11.1%
Net Income -$186M -15.7%
EPS (Diluted) -1.64
Gross Margin 100% +167.8%
EBITDA Margin -1403.52% -417.7%
Operating Margin -1542.63% -414.4%
Net Margin -1366.46% -439.5%
ROE -54.21% -43.6%
ROIC -39.52% -33.1%
Debt/Equity 0.27 -4.8%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Trading at only 0.4x book value

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow
✗Shares diluted 15.5% in last year
✗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

10Y-

5Y5%

3Y-37.51%

TTM-46.92%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM12.42%

EPS CAGR

10Y-

5Y-

3Y-

TTM20%

ROCE

10Y Avg-43.31%

5Y Avg-38.11%

3Y Avg-42.48%

Latest-48.38%

Peer Comparison

Hematologic Oncology

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
INCYIncyte Corporation	20.8B	105.95	706.33	14.76%	24.69%	25.55%	1.2%	0.01
TGTXTG Therapeutics, Inc.	4.69B	29.54	196.93	40.8%	13.31%	21.87%		1.14
AGIOAgios Pharmaceuticals, Inc.	1.68B	28.73	2.47	36.07%	-8.96%	-31.24%		0.04
CLRBCellectar Biosciences, Inc.	15.9M	3.75	-0.09			-200.99%		0.03
CASICASI Pharmaceuticals, Inc.	20.96M	1.02	-0.40	-15.77%	-183.93%	-301.8%		11.96
VORVor Biopharma Inc.	323.62M	14.77	-0.43			-94.52%		0.33
FATEFate Therapeutics, Inc.	124.58M	1.08	-0.66	-78.55%	-21.87%	-66.69%		0.27
KPTIKaryopharm Therapeutics Inc.	131.65M	7.19	-0.76	-0.55%	-87.43%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	2.43M	4.4M	4.11M	4.74M	10.68M	31.43M	55.85M	96.3M	63.53M	13.63M
Revenue Growth %	-	0.81%	-0.07%	0.15%	1.25%	1.94%	0.78%	0.72%	-0.34%	-0.79%
Cost of Goods Sold+	19.86M	26.45M	34.36M	56.02M	0	125.62M	5.85M	13.76M	157.19M	0
COGS % of Revenue	8.17%	6.01%	8.37%	11.82%	-	4%	0.1%	0.14%	2.47%	-
Gross Profit+	-17.43M	-22.05M	-30.25M	-51.28M	10.68M	-94.19M	50M	82.54M	-93.65M	13.63M
Gross Margin %	-7.17%	-5.01%	-7.37%	-10.82%	1%	-3%	0.9%	0.86%	-1.47%	1%
Gross Profit Growth %	-0.06%	-0.27%	-0.37%	-0.7%	1.21%	-9.82%	1.53%	0.65%	-2.13%	1.15%
Operating Expenses+	30.21M	36.37M	46.23M	71.83M	111.41M	33.9M	266.99M	390.93M	96.86M	223.91M
OpEx % of Revenue	12.43%	8.26%	11.26%	15.15%	10.43%	1.08%	4.78%	4.06%	1.52%	16.43%
Selling, General & Admin	10.35M	9.91M	11.87M	15.81M	23.64M	33.9M	57.32M	84.23M	96.86M	74.17M
SG&A % of Revenue	4.26%	2.25%	2.89%	3.34%	2.21%	1.08%	1.03%	0.87%	1.52%	5.44%
Research & Development	19.86M	26.45M	34.36M	56.02M	87.77M	125.62M	215.52M	320.45M	172.6M	135M
R&D % of Revenue	8.17%	6.01%	8.37%	11.82%	8.22%	4%	3.86%	3.33%	2.72%	9.9%
Other Operating Expenses	0	0	0	0	0	-125.62M	-5.85M	-13.76M	-172.6M	14.74M
Operating Income+	-27.78M	-31.96M	-42.13M	-67.09M	-100.73M	-128.09M	-216.99M	-308.39M	-190.51M	-210.28M
Operating Margin %	-11.43%	-7.26%	-10.26%	-14.15%	-9.43%	-4.07%	-3.89%	-3.2%	-3%	-15.43%
Operating Income Growth %	-0.12%	-0.15%	-0.32%	-0.59%	-0.5%	-0.27%	-0.69%	-0.42%	0.38%	-0.1%
EBITDA+	-27.09M	-31.08M	-41.15M	-65.89M	-98.53M	-125M	-211.14M	-294.63M	-172.23M	-191.31M
EBITDA Margin %	-11.15%	-7.06%	-10.02%	-13.9%	-9.23%	-3.98%	-3.78%	-3.06%	-2.71%	-14.04%
EBITDA Growth %	-0.11%	-0.15%	-0.32%	-0.6%	-0.5%	-0.27%	-0.69%	-0.4%	0.42%	-0.11%
D&A (Non-Cash Add-back)	687K	881K	971K	1.2M	2.19M	3.09M	5.85M	13.76M	18.28M	18.96M
EBIT	-27.77M	-31.82M	-41.68M	-64.9M	-96.4M	-128.09M	-216.99M	-308.39M	-190.51M	-195.54M
Net Interest Income+	-2.21M	-1.5M	-709K	494K	2.58M	2.4M	1.31M	5.84M	17.19M	17.29M
Interest Income	10K	138K	559K	2.19M	4.33M	2.4M	1.31M	5.84M	17.19M	17.29M
Interest Expense	2.22M	1.64M	1.27M	1.7M	1.75M	0	0	0	0	0
Other Income/Expense	-2.21M	-1.5M	-827K	494K	2.58M	-45.3M	4.84M	26.66M	29.58M	24.01M
Pretax Income+	-29.99M	-33.46M	-42.95M	-66.6M	-98.15M	-173.39M	-212.15M	-281.72M	-160.93M	-186.26M
Pretax Margin %	-12.34%	-7.6%	-10.46%	-14.05%	-9.19%	-5.52%	-3.8%	-2.93%	-2.53%	-13.66%
Income Tax+	0	0	297K	0	0	0	0	0	0	0
Effective Tax Rate %	1%	1%	1%	1%	1%	1%	1%	1%	1%	1%
Net Income+	-29.99M	-33.46M	-42.95M	-66.6M	-98.15M	-173.39M	-212.15M	-281.72M	-160.93M	-186.26M
Net Margin %	-12.34%	-7.6%	-10.46%	-14.05%	-9.19%	-5.52%	-3.8%	-2.93%	-2.53%	-13.66%
Net Income Growth %	-0.16%	-0.12%	-0.28%	-0.55%	-0.47%	-0.77%	-0.22%	-0.33%	0.43%	-0.16%
Net Income (Continuing)	-29.99M	-33.46M	-42.95M	-66.6M	-98.15M	-173.39M	-212.15M	-281.72M	-160.93M	-186.26M
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)+	-1.18	-1.05	-1.02	-1.19	-1.43	-2.10	-2.24	-2.91	-1.64	-1.64
EPS Growth %	0.07%	0.11%	0.03%	-0.17%	-0.2%	-0.47%	-0.07%	-0.3%	0.44%	0%
EPS (Basic)	-1.18	-1.05	-1.02	-1.19	-1.43	-2.10	-2.24	-2.91	-1.64	-1.64
Diluted Shares Outstanding	25.48M	31.75M	41.98M	56.2M	68.19M	82.39M	94.75M	96.83M	98.41M	113.69M
Basic Shares Outstanding	25.48M	31.75M	41.98M	56.2M	68.19M	82.39M	94.75M	96.83M	98.41M	113.69M
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+	65.65M	93.32M	102.6M	205.2M	227.09M	494.32M	633.41M	502.07M	331.54M	291.91M
Cash & Short-Term Investments	64.81M	92.11M	100.95M	201.01M	221.43M	482.92M	615.91M	436.23M	315.18M	279.07M
Cash Only	64.81M	88.61M	88.95M	190.51M	99.81M	167.35M	133.58M	61.33M	41.87M	36.06M
Short-Term Investments	0	3.5M	12M	10.49M	121.61M	315.57M	482.33M	374.89M	273.31M	243.01M
Accounts Receivable	0	0	0	500K	0	5.51M	8.68M	38.48M	1.83M	3.54M
Days Sales Outstanding	-	-	-	38.5	-	64.04	56.7	145.85	10.49	94.76
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	843K	1.21M	1.65M	0	5.66M	5.89M	0	27.37M	900K	9.3M
Total Non-Current Assets+	2.31M	1.73M	2.7M	7.84M	75.19M	128.13M	288.04M	203.49M	174.68M	148.78M
Property, Plant & Equipment	2.16M	1.58M	2.55M	5.13M	22.75M	99.39M	162.25M	66.07M	158.51M	110.89M
Fixed Asset Turnover	1.13x	2.79x	1.61x	0.92x	0.47x	0.32x	0.34x	1.46x	0.40x	0.12x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	122K	122K	122K	2.19M	39.44M	28.73M	100.66M	4.94M	980K	27.66M
Other Non-Current Assets	24K	24K	24K	526K	12.99M	9K	25.13M	132.48M	15.19M	10.24M
Total Assets+	67.96M	95.05M	105.29M	213.03M	302.27M	622.46M	921.46M	705.56M	506.22M	440.69M
Asset Turnover	0.04x	0.05x	0.04x	0.02x	0.04x	0.05x	0.06x	0.14x	0.13x	0.03x
Asset Growth %	0.33%	0.4%	0.11%	1.02%	0.42%	1.06%	0.48%	-0.23%	-0.28%	-0.13%
Total Current Liabilities+	13.44M	15.19M	11.05M	27.26M	27.81M	85.56M	81.28M	114.05M	39.09M	38.52M
Accounts Payable	996K	934K	1.68M	4.21M	5.82M	6.28M	8.61M	8.27M	4.72M	9.37M
Days Payables Outstanding	18.3	12.89	17.83	27.4	-	18.26	537.33	219.27	10.96	-
Short-Term Debt	7.55M	8.19M	0	2.44M	0	3.35M	0	0	0	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0	393K
Other Current Liabilities	1.5M	2.46M	5.5M	10.09M	12.18M	49.97M	3.2M	40.03M	685K	11.64M
Current Ratio	4.88x	6.14x	9.29x	7.53x	8.17x	5.78x	7.79x	4.40x	8.48x	7.58x
Quick Ratio	4.88x	6.14x	9.29x	7.53x	8.17x	5.78x	7.79x	4.40x	8.48x	7.58x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	16.48M	6.71M	17.05M	25.3M	29.71M	152.45M	161.33M	107.57M	98.71M	83.45M
Long-Term Debt	10.69M	2.5M	14.81M	12.45M	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	25.23M	93.94M	109.24M	103.71M	97.36M	77.85M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	857K	1.38M	1.52M	5.35M	702K	12.48M	24.97M	3.86M	1.35M	5.6M
Total Liabilities	29.92M	21.89M	28.1M	52.56M	57.52M	238.01M	242.62M	221.62M	137.8M	121.97M
Total Debt+	18.24M	10.69M	14.81M	14.88M	26.93M	97.3M	114.82M	109.34M	103.54M	85.27M
Net Debt	-46.57M	-77.92M	-74.14M	-175.63M	-72.89M	-70.05M	-18.77M	48.01M	61.67M	49.21M
Debt / Equity	0.48x	0.15x	0.19x	0.09x	0.11x	0.25x	0.17x	0.23x	0.28x	0.27x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-12.51x	-19.53x	-33.22x	-39.56x	-57.49x	-	-	-	-	-
Total Equity+	38.04M	73.15M	77.19M	160.47M	244.76M	384.44M	678.84M	483.94M	368.42M	318.73M
Equity Growth %	0.34%	0.92%	0.06%	1.08%	0.53%	0.57%	0.77%	-0.29%	-0.24%	-0.13%
Book Value per Share	1.49	2.30	1.84	2.86	3.59	4.67	7.16	5.00	3.74	2.80
Total Shareholders' Equity	38.04M	73.15M	77.19M	160.47M	244.76M	384.44M	678.84M	483.94M	368.42M	318.73M
Common Stock	29K	41K	53K	65K	76K	88K	96K	97K	99K	114K
Retained Earnings	-142.38M	-175.85M	-218.8M	-285.4M	-383.55M	-556.93M	-769.08M	-1.05B	-1.21B	-1.4B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-3.47M	-1K	-3K	-2K	22K	70K	-762K	-1.85M	15K	268K
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+	-18.4M	-29.82M	-36.91M	-38.65M	-83.17M	-39.23M	-162.87M	-248.21M	-132.26M	-122.87M
Operating CF Margin %	-7.57%	-6.77%	-8.99%	-8.15%	-7.79%	-1.25%	-2.92%	-2.58%	-2.08%	-9.01%
Operating CF Growth %	0.18%	-0.62%	-0.24%	-0.05%	-1.15%	0.53%	-3.15%	-0.52%	0.47%	0.07%
Net Income	-29.99M	-33.46M	-42.95M	-66.6M	-98.15M	-173.39M	-212.15M	-281.72M	-160.93M	-186.26M
Depreciation & Amortization	687K	881K	971K	1.2M	2.19M	3.09M	5.85M	13.76M	18.28M	18.96M
Stock-Based Compensation	2.4M	3.18M	3.61M	6.29M	17.41M	0	54.36M	0	0	0
Deferred Taxes	0	171K	5K	-335K	-478K	0	0	0	0	0
Other Non-Cash Items	8.14M	-1.61M	-613K	19.04M	-7.79M	143.84M	-13.03M	54.47M	-8.8M	46.38M
Working Capital Changes	370K	1.18M	2.08M	1.74M	3.64M	-12.77M	2.1M	-34.71M	19.18M	-1.96M
Change in Receivables	0	0	0	-500K	500K	-5.51M	-3.16M	-29.8M	36.65M	-1.11M
Change in Inventory	0	0	0	-4.25M	-4.28M	0	0	0	0	0
Change in Payables	477K	1.56M	2.51M	4.25M	4.28M	-1.55M	0	14.25M	-28.94M	-1.66M
Cash from Investing+	-1.5M	-4.11M	-10.2M	-463K	-157.45M	-161.08M	-324.02M	166.75M	112.67M	12.22M
Capital Expenditures	-1.5M	-457K	-1.73M	-2.3M	-7.39M	-4.93M	-50.7M	-35.57M	-6.15M	-730K
CapEx % of Revenue	0.62%	0.1%	0.42%	0.49%	0.69%	0.16%	0.91%	0.37%	0.1%	0.05%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	18K	-8.47M	1.84M	-150.06M	0	0	0	0	0
Cash from Financing+	35.6M	57.74M	47.44M	140.78M	149.93M	282.84M	453.13M	9.21M	85K	99.89M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	420K	186K	283K	6.2M	2.52M	490K	41.39M	0	0	5.07M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-19.89M	-30.28M	-38.63M	-40.95M	-90.57M	-44.16M	-213.57M	-283.77M	-138.42M	-123.6M
FCF Margin %	-8.18%	-6.88%	-9.41%	-8.64%	-8.48%	-1.4%	-3.82%	-2.95%	-2.18%	-9.07%
FCF Growth %	0.15%	-0.52%	-0.28%	-0.06%	-1.21%	0.51%	-3.84%	-0.33%	0.51%	0.11%
FCF per Share	-0.78	-0.95	-0.92	-0.73	-1.33	-0.54	-2.25	-2.93	-1.41	-1.09
FCF Conversion (FCF/Net Income)	0.61x	0.89x	0.86x	0.58x	0.85x	0.23x	0.77x	0.88x	0.82x	0.66x
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)	-90.37%	-60.19%	-57.14%	-56.05%	-48.44%	-55.11%	-39.9%	-48.46%	-37.76%	-54.21%
Return on Invested Capital (ROIC)	-	-	-1037.56%	-	-96.42%	-39.51%	-33.4%	-38.81%	-29.7%	-39.52%
Gross Margin	-716.99%	-500.91%	-736.78%	-1081.94%	100%	-299.64%	89.52%	85.71%	-147.41%	100%
Net Margin	-1233.73%	-760.15%	-1046.08%	-1405.02%	-919%	-551.59%	-379.89%	-292.55%	-253.3%	-1366.46%
Debt / Equity	0.48x	0.15x	0.19x	0.09x	0.11x	0.25x	0.17x	0.23x	0.28x	0.27x
Interest Coverage	-12.51x	-19.53x	-33.22x	-39.56x	-57.49x	-	-	-	-	-
FCF Conversion	0.61x	0.89x	0.86x	0.58x	0.85x	0.23x	0.77x	0.88x	0.82x	0.66x
Revenue Growth	-	81.08%	-6.72%	15.44%	125.32%	194.33%	77.66%	72.44%	-34.03%	-78.55%

Revenue by Segment

	2020	2022	2023
Upfront Fee And Equity Premium	6.5M	23.1M	31.2M
Upfront Fee And Equity Premium Growth	-	255.38%	35.06%

Frequently Asked Questions

Growth & Financials

Fate Therapeutics, Inc. (FATE) reported $7.1M in revenue for fiscal year 2024. This represents a 510% increase from $1.2M in 2011.

Fate Therapeutics, Inc. (FATE) saw revenue decline by 78.5% over the past year.

Fate Therapeutics, Inc. (FATE) reported a net loss of $156.1M for fiscal year 2024.

Dividend & Returns

Fate Therapeutics, Inc. (FATE) has a return on equity (ROE) of -54.2%. Negative ROE indicates the company is unprofitable.

Fate Therapeutics, Inc. (FATE) had negative free cash flow of $115.4M in fiscal year 2024, likely due to heavy capital investments.

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Fate Therapeutics, Inc. (FATE) 10-Year Financial Performance & Capital Metrics

FATE • • Industrial / General

HealthcareBiotechnologyOncology TherapeuticsHematologic Oncology

Revenue $14M -78.5%
EBITDA -$191M -11.1%
Net Income -$186M -15.7%
EPS (Diluted) -1.64
Gross Margin 100% +167.8%
EBITDA Margin -1403.52% -417.7%
Operating Margin -1542.63% -414.4%
Net Margin -1366.46% -439.5%
ROE -54.21% -43.6%
ROIC -39.52% -33.1%
Debt/Equity 0.27 -4.8%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Trading at only 0.4x book value

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow
✗Shares diluted 15.5% in last year
✗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

10Y-

5Y5%

3Y-37.51%

TTM-46.92%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM12.42%

EPS CAGR

10Y-

5Y-

3Y-

TTM20%

ROCE

10Y Avg-43.31%

5Y Avg-38.11%

3Y Avg-42.48%

Latest-48.38%

Peer Comparison

Hematologic Oncology

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
INCYIncyte Corporation	20.8B	105.95	706.33	14.76%	24.69%	25.55%	1.2%	0.01
TGTXTG Therapeutics, Inc.	4.69B	29.54	196.93	40.8%	13.31%	21.87%		1.14
AGIOAgios Pharmaceuticals, Inc.	1.68B	28.73	2.47	36.07%	-8.96%	-31.24%		0.04
CLRBCellectar Biosciences, Inc.	15.9M	3.75	-0.09			-200.99%		0.03
CASICASI Pharmaceuticals, Inc.	20.96M	1.02	-0.40	-15.77%	-183.93%	-301.8%		11.96
VORVor Biopharma Inc.	323.62M	14.77	-0.43			-94.52%		0.33
FATEFate Therapeutics, Inc.	124.58M	1.08	-0.66	-78.55%	-21.87%	-66.69%		0.27
KPTIKaryopharm Therapeutics Inc.	131.65M	7.19	-0.76	-0.55%	-87.43%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	2.43M	4.4M	4.11M	4.74M	10.68M	31.43M	55.85M	96.3M	63.53M	13.63M
Revenue Growth %	-	0.81%	-0.07%	0.15%	1.25%	1.94%	0.78%	0.72%	-0.34%	-0.79%
Cost of Goods Sold+	19.86M	26.45M	34.36M	56.02M	0	125.62M	5.85M	13.76M	157.19M	0
COGS % of Revenue	8.17%	6.01%	8.37%	11.82%	-	4%	0.1%	0.14%	2.47%	-
Gross Profit+	-17.43M	-22.05M	-30.25M	-51.28M	10.68M	-94.19M	50M	82.54M	-93.65M	13.63M
Gross Margin %	-7.17%	-5.01%	-7.37%	-10.82%	1%	-3%	0.9%	0.86%	-1.47%	1%
Gross Profit Growth %	-0.06%	-0.27%	-0.37%	-0.7%	1.21%	-9.82%	1.53%	0.65%	-2.13%	1.15%
Operating Expenses+	30.21M	36.37M	46.23M	71.83M	111.41M	33.9M	266.99M	390.93M	96.86M	223.91M
OpEx % of Revenue	12.43%	8.26%	11.26%	15.15%	10.43%	1.08%	4.78%	4.06%	1.52%	16.43%
Selling, General & Admin	10.35M	9.91M	11.87M	15.81M	23.64M	33.9M	57.32M	84.23M	96.86M	74.17M
SG&A % of Revenue	4.26%	2.25%	2.89%	3.34%	2.21%	1.08%	1.03%	0.87%	1.52%	5.44%
Research & Development	19.86M	26.45M	34.36M	56.02M	87.77M	125.62M	215.52M	320.45M	172.6M	135M
R&D % of Revenue	8.17%	6.01%	8.37%	11.82%	8.22%	4%	3.86%	3.33%	2.72%	9.9%
Other Operating Expenses	0	0	0	0	0	-125.62M	-5.85M	-13.76M	-172.6M	14.74M
Operating Income+	-27.78M	-31.96M	-42.13M	-67.09M	-100.73M	-128.09M	-216.99M	-308.39M	-190.51M	-210.28M
Operating Margin %	-11.43%	-7.26%	-10.26%	-14.15%	-9.43%	-4.07%	-3.89%	-3.2%	-3%	-15.43%
Operating Income Growth %	-0.12%	-0.15%	-0.32%	-0.59%	-0.5%	-0.27%	-0.69%	-0.42%	0.38%	-0.1%
EBITDA+	-27.09M	-31.08M	-41.15M	-65.89M	-98.53M	-125M	-211.14M	-294.63M	-172.23M	-191.31M
EBITDA Margin %	-11.15%	-7.06%	-10.02%	-13.9%	-9.23%	-3.98%	-3.78%	-3.06%	-2.71%	-14.04%
EBITDA Growth %	-0.11%	-0.15%	-0.32%	-0.6%	-0.5%	-0.27%	-0.69%	-0.4%	0.42%	-0.11%
D&A (Non-Cash Add-back)	687K	881K	971K	1.2M	2.19M	3.09M	5.85M	13.76M	18.28M	18.96M
EBIT	-27.77M	-31.82M	-41.68M	-64.9M	-96.4M	-128.09M	-216.99M	-308.39M	-190.51M	-195.54M
Net Interest Income+	-2.21M	-1.5M	-709K	494K	2.58M	2.4M	1.31M	5.84M	17.19M	17.29M
Interest Income	10K	138K	559K	2.19M	4.33M	2.4M	1.31M	5.84M	17.19M	17.29M
Interest Expense	2.22M	1.64M	1.27M	1.7M	1.75M	0	0	0	0	0
Other Income/Expense	-2.21M	-1.5M	-827K	494K	2.58M	-45.3M	4.84M	26.66M	29.58M	24.01M
Pretax Income+	-29.99M	-33.46M	-42.95M	-66.6M	-98.15M	-173.39M	-212.15M	-281.72M	-160.93M	-186.26M
Pretax Margin %	-12.34%	-7.6%	-10.46%	-14.05%	-9.19%	-5.52%	-3.8%	-2.93%	-2.53%	-13.66%
Income Tax+	0	0	297K	0	0	0	0	0	0	0
Effective Tax Rate %	1%	1%	1%	1%	1%	1%	1%	1%	1%	1%
Net Income+	-29.99M	-33.46M	-42.95M	-66.6M	-98.15M	-173.39M	-212.15M	-281.72M	-160.93M	-186.26M
Net Margin %	-12.34%	-7.6%	-10.46%	-14.05%	-9.19%	-5.52%	-3.8%	-2.93%	-2.53%	-13.66%
Net Income Growth %	-0.16%	-0.12%	-0.28%	-0.55%	-0.47%	-0.77%	-0.22%	-0.33%	0.43%	-0.16%
Net Income (Continuing)	-29.99M	-33.46M	-42.95M	-66.6M	-98.15M	-173.39M	-212.15M	-281.72M	-160.93M	-186.26M
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)+	-1.18	-1.05	-1.02	-1.19	-1.43	-2.10	-2.24	-2.91	-1.64	-1.64
EPS Growth %	0.07%	0.11%	0.03%	-0.17%	-0.2%	-0.47%	-0.07%	-0.3%	0.44%	0%
EPS (Basic)	-1.18	-1.05	-1.02	-1.19	-1.43	-2.10	-2.24	-2.91	-1.64	-1.64
Diluted Shares Outstanding	25.48M	31.75M	41.98M	56.2M	68.19M	82.39M	94.75M	96.83M	98.41M	113.69M
Basic Shares Outstanding	25.48M	31.75M	41.98M	56.2M	68.19M	82.39M	94.75M	96.83M	98.41M	113.69M
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+	65.65M	93.32M	102.6M	205.2M	227.09M	494.32M	633.41M	502.07M	331.54M	291.91M
Cash & Short-Term Investments	64.81M	92.11M	100.95M	201.01M	221.43M	482.92M	615.91M	436.23M	315.18M	279.07M
Cash Only	64.81M	88.61M	88.95M	190.51M	99.81M	167.35M	133.58M	61.33M	41.87M	36.06M
Short-Term Investments	0	3.5M	12M	10.49M	121.61M	315.57M	482.33M	374.89M	273.31M	243.01M
Accounts Receivable	0	0	0	500K	0	5.51M	8.68M	38.48M	1.83M	3.54M
Days Sales Outstanding	-	-	-	38.5	-	64.04	56.7	145.85	10.49	94.76
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	843K	1.21M	1.65M	0	5.66M	5.89M	0	27.37M	900K	9.3M
Total Non-Current Assets+	2.31M	1.73M	2.7M	7.84M	75.19M	128.13M	288.04M	203.49M	174.68M	148.78M
Property, Plant & Equipment	2.16M	1.58M	2.55M	5.13M	22.75M	99.39M	162.25M	66.07M	158.51M	110.89M
Fixed Asset Turnover	1.13x	2.79x	1.61x	0.92x	0.47x	0.32x	0.34x	1.46x	0.40x	0.12x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	122K	122K	122K	2.19M	39.44M	28.73M	100.66M	4.94M	980K	27.66M
Other Non-Current Assets	24K	24K	24K	526K	12.99M	9K	25.13M	132.48M	15.19M	10.24M
Total Assets+	67.96M	95.05M	105.29M	213.03M	302.27M	622.46M	921.46M	705.56M	506.22M	440.69M
Asset Turnover	0.04x	0.05x	0.04x	0.02x	0.04x	0.05x	0.06x	0.14x	0.13x	0.03x
Asset Growth %	0.33%	0.4%	0.11%	1.02%	0.42%	1.06%	0.48%	-0.23%	-0.28%	-0.13%
Total Current Liabilities+	13.44M	15.19M	11.05M	27.26M	27.81M	85.56M	81.28M	114.05M	39.09M	38.52M
Accounts Payable	996K	934K	1.68M	4.21M	5.82M	6.28M	8.61M	8.27M	4.72M	9.37M
Days Payables Outstanding	18.3	12.89	17.83	27.4	-	18.26	537.33	219.27	10.96	-
Short-Term Debt	7.55M	8.19M	0	2.44M	0	3.35M	0	0	0	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0	393K
Other Current Liabilities	1.5M	2.46M	5.5M	10.09M	12.18M	49.97M	3.2M	40.03M	685K	11.64M
Current Ratio	4.88x	6.14x	9.29x	7.53x	8.17x	5.78x	7.79x	4.40x	8.48x	7.58x
Quick Ratio	4.88x	6.14x	9.29x	7.53x	8.17x	5.78x	7.79x	4.40x	8.48x	7.58x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	16.48M	6.71M	17.05M	25.3M	29.71M	152.45M	161.33M	107.57M	98.71M	83.45M
Long-Term Debt	10.69M	2.5M	14.81M	12.45M	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	25.23M	93.94M	109.24M	103.71M	97.36M	77.85M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	857K	1.38M	1.52M	5.35M	702K	12.48M	24.97M	3.86M	1.35M	5.6M
Total Liabilities	29.92M	21.89M	28.1M	52.56M	57.52M	238.01M	242.62M	221.62M	137.8M	121.97M
Total Debt+	18.24M	10.69M	14.81M	14.88M	26.93M	97.3M	114.82M	109.34M	103.54M	85.27M
Net Debt	-46.57M	-77.92M	-74.14M	-175.63M	-72.89M	-70.05M	-18.77M	48.01M	61.67M	49.21M
Debt / Equity	0.48x	0.15x	0.19x	0.09x	0.11x	0.25x	0.17x	0.23x	0.28x	0.27x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-12.51x	-19.53x	-33.22x	-39.56x	-57.49x	-	-	-	-	-
Total Equity+	38.04M	73.15M	77.19M	160.47M	244.76M	384.44M	678.84M	483.94M	368.42M	318.73M
Equity Growth %	0.34%	0.92%	0.06%	1.08%	0.53%	0.57%	0.77%	-0.29%	-0.24%	-0.13%
Book Value per Share	1.49	2.30	1.84	2.86	3.59	4.67	7.16	5.00	3.74	2.80
Total Shareholders' Equity	38.04M	73.15M	77.19M	160.47M	244.76M	384.44M	678.84M	483.94M	368.42M	318.73M
Common Stock	29K	41K	53K	65K	76K	88K	96K	97K	99K	114K
Retained Earnings	-142.38M	-175.85M	-218.8M	-285.4M	-383.55M	-556.93M	-769.08M	-1.05B	-1.21B	-1.4B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-3.47M	-1K	-3K	-2K	22K	70K	-762K	-1.85M	15K	268K
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+	-18.4M	-29.82M	-36.91M	-38.65M	-83.17M	-39.23M	-162.87M	-248.21M	-132.26M	-122.87M
Operating CF Margin %	-7.57%	-6.77%	-8.99%	-8.15%	-7.79%	-1.25%	-2.92%	-2.58%	-2.08%	-9.01%
Operating CF Growth %	0.18%	-0.62%	-0.24%	-0.05%	-1.15%	0.53%	-3.15%	-0.52%	0.47%	0.07%
Net Income	-29.99M	-33.46M	-42.95M	-66.6M	-98.15M	-173.39M	-212.15M	-281.72M	-160.93M	-186.26M
Depreciation & Amortization	687K	881K	971K	1.2M	2.19M	3.09M	5.85M	13.76M	18.28M	18.96M
Stock-Based Compensation	2.4M	3.18M	3.61M	6.29M	17.41M	0	54.36M	0	0	0
Deferred Taxes	0	171K	5K	-335K	-478K	0	0	0	0	0
Other Non-Cash Items	8.14M	-1.61M	-613K	19.04M	-7.79M	143.84M	-13.03M	54.47M	-8.8M	46.38M
Working Capital Changes	370K	1.18M	2.08M	1.74M	3.64M	-12.77M	2.1M	-34.71M	19.18M	-1.96M
Change in Receivables	0	0	0	-500K	500K	-5.51M	-3.16M	-29.8M	36.65M	-1.11M
Change in Inventory	0	0	0	-4.25M	-4.28M	0	0	0	0	0
Change in Payables	477K	1.56M	2.51M	4.25M	4.28M	-1.55M	0	14.25M	-28.94M	-1.66M
Cash from Investing+	-1.5M	-4.11M	-10.2M	-463K	-157.45M	-161.08M	-324.02M	166.75M	112.67M	12.22M
Capital Expenditures	-1.5M	-457K	-1.73M	-2.3M	-7.39M	-4.93M	-50.7M	-35.57M	-6.15M	-730K
CapEx % of Revenue	0.62%	0.1%	0.42%	0.49%	0.69%	0.16%	0.91%	0.37%	0.1%	0.05%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	18K	-8.47M	1.84M	-150.06M	0	0	0	0	0
Cash from Financing+	35.6M	57.74M	47.44M	140.78M	149.93M	282.84M	453.13M	9.21M	85K	99.89M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	420K	186K	283K	6.2M	2.52M	490K	41.39M	0	0	5.07M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-19.89M	-30.28M	-38.63M	-40.95M	-90.57M	-44.16M	-213.57M	-283.77M	-138.42M	-123.6M
FCF Margin %	-8.18%	-6.88%	-9.41%	-8.64%	-8.48%	-1.4%	-3.82%	-2.95%	-2.18%	-9.07%
FCF Growth %	0.15%	-0.52%	-0.28%	-0.06%	-1.21%	0.51%	-3.84%	-0.33%	0.51%	0.11%
FCF per Share	-0.78	-0.95	-0.92	-0.73	-1.33	-0.54	-2.25	-2.93	-1.41	-1.09
FCF Conversion (FCF/Net Income)	0.61x	0.89x	0.86x	0.58x	0.85x	0.23x	0.77x	0.88x	0.82x	0.66x
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)	-90.37%	-60.19%	-57.14%	-56.05%	-48.44%	-55.11%	-39.9%	-48.46%	-37.76%	-54.21%
Return on Invested Capital (ROIC)	-	-	-1037.56%	-	-96.42%	-39.51%	-33.4%	-38.81%	-29.7%	-39.52%
Gross Margin	-716.99%	-500.91%	-736.78%	-1081.94%	100%	-299.64%	89.52%	85.71%	-147.41%	100%
Net Margin	-1233.73%	-760.15%	-1046.08%	-1405.02%	-919%	-551.59%	-379.89%	-292.55%	-253.3%	-1366.46%
Debt / Equity	0.48x	0.15x	0.19x	0.09x	0.11x	0.25x	0.17x	0.23x	0.28x	0.27x
Interest Coverage	-12.51x	-19.53x	-33.22x	-39.56x	-57.49x	-	-	-	-	-
FCF Conversion	0.61x	0.89x	0.86x	0.58x	0.85x	0.23x	0.77x	0.88x	0.82x	0.66x
Revenue Growth	-	81.08%	-6.72%	15.44%	125.32%	194.33%	77.66%	72.44%	-34.03%	-78.55%

Revenue by Segment

	2020	2022	2023
Upfront Fee And Equity Premium	6.5M	23.1M	31.2M
Upfront Fee And Equity Premium Growth	-	255.38%	35.06%

Frequently Asked Questions

Growth & Financials

Fate Therapeutics, Inc. (FATE) reported $7.1M in revenue for fiscal year 2024. This represents a 510% increase from $1.2M in 2011.

Fate Therapeutics, Inc. (FATE) saw revenue decline by 78.5% over the past year.

Fate Therapeutics, Inc. (FATE) reported a net loss of $156.1M for fiscal year 2024.

Dividend & Returns

Fate Therapeutics, Inc. (FATE) has a return on equity (ROE) of -54.2%. Negative ROE indicates the company is unprofitable.

Fate Therapeutics, Inc. (FATE) had negative free cash flow of $115.4M in fiscal year 2024, likely due to heavy capital investments.