Lite Strategy, Inc. (LITS) 10-Year Financial Performance & Capital Metrics

LITS • • Industrial / General

HealthcareBiotechnologyOncology TherapeuticsSolid Tumor Oncology

AboutLite Strategy, Inc. a clinical-stage pharmaceutical company, focuses on the development of novel and differentiated therapies for the treatment of cancer. The company was formerly known as MEI Pharma, Inc. and changed its name to Lite Strategy, Inc. in September 2025. Lite Strategy, Inc. was incorporated in 2000 and is based in San Diego, California.Show more

Revenue $0 -100.0%
EBITDA -$17M -214.5%
Net Income -$16M -189.7%
EPS (Diluted) -2.39 -189.5%
Gross Margin -
EBITDA Margin -
Operating Margin -
Net Margin -
ROE -63.84% -203.5%
ROIC -92.73% -311.5%
Debt/Equity -
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Trading at only 0.6x book value

✗Weaknesses

✗Weak Piotroski F-Score: 2/9
✗Weak momentum: RS Rating 20 (bottom 20%)
✗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-

5Y-

3Y-

TTM-

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-

EPS CAGR

10Y-

5Y-

3Y-

TTM-

ROCE

10Y Avg-33.09%

5Y Avg-33.09%

3Y Avg-25.69%

Latest-69.89%

Peer Comparison

Solid Tumor Oncology

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TLXTelix Pharmaceuticals Limited	2.49B	7.43	53.07	55.85%	3.98%	15.63%	0.36%	1.02
EXELExelixis, Inc.	12.18B	45.44	25.82	18.49%	29.63%	31.37%	5.2%	0.09
BBOTBridgeBio Oncology Therapeutics Inc.	919.87M	11.50	25			-25.73%
INBXInhibrx Biosciences, Inc.	1.04B	71.80	0.62	-88.89%	-110.78%	-421.09%		0.06
NUVBNuvation Bio Inc.	2.1B	6.14	-2.91		-8.13%	-66.74%		0.02
RLAYRelay Therapeutics, Inc.	1.32B	7.63	-3.23	-60.83%	-26.71%	-48.97%		0.06
ORICORIC Pharmaceuticals, Inc.	1.12B	11.52	-6.30			-33.24%		0.01
ZLABZai Lab Limited	2.09B	18.82	-7.24	49.59%	-46.83%	-27.21%		0.18

Profit & Loss

	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Sales/Revenue+	34.8M	40.7M	48.82M	65.3M	0
Revenue Growth %	-	0.17%	0.2%	0.34%	-1%
Cost of Goods Sold+	1.41M	0	0	0	368K
COGS % of Revenue	0.04%	-	-	-	-
Gross Profit+	33.39M	40.7M	48.82M	65.3M	-368K
Gross Margin %	0.96%	1%	1%	1%	-
Gross Profit Growth %	-	0.22%	0.2%	0.34%	-1.01%
Operating Expenses+	93.81M	116.18M	85.58M	50.76M	17.09M
OpEx % of Revenue	2.7%	2.85%	1.75%	0.78%	-
Selling, General & Admin	24.41M	30.54M	33.13M	23.3M	13.53M
SG&A % of Revenue	0.7%	0.75%	0.68%	0.36%	-
Research & Development	69.4M	85.64M	52.45M	16.56M	3.92M
R&D % of Revenue	1.99%	2.1%	1.07%	0.25%	-
Other Operating Expenses	0	0	0	10.9M	-368K
Operating Income+	-60.42M	-75.48M	-36.76M	14.54M	-17.45M
Operating Margin %	-1.74%	-1.85%	-0.75%	0.22%	-
Operating Income Growth %	-	-0.25%	0.51%	1.4%	-2.2%
EBITDA+	-60.14M	-75.16M	-36.38M	14.93M	-17.09M
EBITDA Margin %	-1.73%	-1.85%	-0.75%	0.23%	-
EBITDA Growth %	-	-0.25%	0.52%	1.41%	-2.14%
D&A (Non-Cash Add-back)	285K	326K	386K	383K	368K
EBIT	-41.31M	-75.48M	-36.76M	25.44M	-17.45M
Net Interest Income+	510K	284K	3.35M	3.28M	1.03M
Interest Income	510K	284K	3.35M	3.28M	1.03M
Interest Expense	0	0	0	0	0
Other Income/Expense	19.12M	21.03M	4.93M	3.24M	1.51M
Pretax Income+	-41.31M	-54.45M	-31.84M	17.78M	-15.95M
Pretax Margin %	-1.19%	-1.34%	-0.65%	0.27%	-
Income Tax+	8K	0	0	0	0
Effective Tax Rate %	1%	1%	1%	1%	1%
Net Income+	-41.31M	-54.45M	-31.84M	17.78M	-15.95M
Net Margin %	-1.19%	-1.34%	-0.65%	0.27%	-
Net Income Growth %	-	-0.32%	0.42%	1.56%	-1.9%
Net Income (Continuing)	-41.31M	-54.45M	-31.84M	17.78M	-15.95M
Discontinued Operations	0	0	0	0	0
Minority Interest	0	0	0	0	0
EPS (Diluted)+	-12.00	-9.99	-4.78	2.67	-2.39
EPS Growth %	-	0.17%	0.52%	1.56%	-1.9%
EPS (Basic)	-7.34	-8.75	-4.78	2.67	-2.39
Diluted Shares Outstanding	5.72M	6.26M	6.66M	6.66M	6.66M
Basic Shares Outstanding	5.63M	6.22M	6.66M	6.66M	6.66M
Dividend Payout Ratio	-	-	-	0.66%	-

Balance Sheet

	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Total Current Assets+	164.82M	167.13M	107.53M	40.77M	18.29M
Cash & Short-Term Investments	153.43M	153.25M	100.69M	38.34M	18.01M
Cash Only	8.54M	15.74M	16.91M	3.71M	18.01M
Short-Term Investments	144.88M	137.51M	83.79M	34.64M	0
Accounts Receivable	7.58M	10.04M	85K	0	0
Days Sales Outstanding	79.53	90.08	0.64	-	-
Inventory	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-
Other Current Assets	3.81M	0	2.15M	1.37M	59K
Total Non-Current Assets+	9.28M	10.71M	13.28M	606K	0
Property, Plant & Equipment	9.28M	10.71M	13.28M	606K	0
Fixed Asset Turnover	3.75x	3.80x	3.68x	107.75x	-
Goodwill	0	0	0	0	0
Intangible Assets	0	0	0	0	0
Long-Term Investments	0	0	0	0	0
Other Non-Current Assets	0	0	0	0	0
Total Assets+	174.1M	177.84M	120.81M	41.38M	18.29M
Asset Turnover	0.20x	0.23x	0.40x	1.58x	-
Asset Growth %	-	0.02%	-0.32%	-0.66%	-0.56%
Total Current Liabilities+	20.21M	24.44M	20.34M	8.36M	1.35M
Accounts Payable	6.36M	7.92M	6.13M	3.17M	176K
Days Payables Outstanding	1.65K	-	-	-	174.57
Short-Term Debt	928K	0	0	0	0
Deferred Revenue (Current)	1000K	1000K	317K	0	0
Other Current Liabilities	4.89M	4.35M	7.19M	2.82M	305K
Current Ratio	8.15x	6.84x	5.29x	4.88x	13.50x
Quick Ratio	8.15x	6.84x	5.29x	4.88x	13.50x
Cash Conversion Cycle	-	-	-	-	-
Total Non-Current Liabilities+	104.42M	100.98M	75.84M	0	0
Long-Term Debt	0	0	0	0	0
Capital Lease Obligations	7.37M	8.77M	11.3M	0	0
Deferred Tax Liabilities	0	0	0	0	0
Other Non-Current Liabilities	22.36M	1.6M	0	0	0
Total Liabilities	124.63M	125.43M	96.19M	8.36M	1.35M
Total Debt+	8.3M	9.64M	12.73M	0	0
Net Debt	-245K	-6.1M	-4.18M	-3.71M	-18.01M
Debt / Equity	0.17x	0.18x	0.52x	-	-
Debt / EBITDA	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-0.25x	-
Interest Coverage	-	-	-	-	-
Total Equity+	49.47M	52.41M	24.62M	33.02M	16.93M
Equity Growth %	-	0.06%	-0.53%	0.34%	-0.49%
Book Value per Share	8.64	8.38	3.70	4.96	2.54
Total Shareholders' Equity	49.47M	52.41M	24.62M	33.02M	16.93M
Common Stock	0	0	0	0	0
Retained Earnings	-319.7M	-374.16M	-406M	-388.22M	-404.16M
Treasury Stock	0	0	0	0	0
Accumulated OCI	0	0	0	0	0
Minority Interest	0	0	0	0	0

Cash Flow

	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Cash from Operations+	-31.96M	-48.75M	-52.48M	-50.47M	-20.84M
Operating CF Margin %	-0.92%	-1.2%	-1.08%	-0.77%	-
Operating CF Growth %	-	-0.53%	-0.08%	0.04%	0.59%
Net Income	-41.31M	-54.45M	-31.84M	17.78M	-15.95M
Depreciation & Amortization	285K	326K	386K	383K	368K
Stock-Based Compensation	0	8.35M	3.59M	2.28M	-144K
Deferred Taxes	0	0	0	0	0
Other Non-Cash Items	-7.88M	-19.84M	326K	13.36M	-272K
Working Capital Changes	16.94M	16.88M	-24.95M	-84.28M	-4.85M
Change in Receivables	15.7M	-2.46M	9.96M	85K	0
Change in Inventory	0	0	0	0	0
Change in Payables	3.92M	1.56M	-1.78M	-3.15M	-2.99M
Cash from Investing+	24.71M	6.89M	53.69M	49.14M	35.15M
Capital Expenditures	-708K	-479K	-35K	-7K	0
CapEx % of Revenue	0.02%	0.01%	0%	0%	-
Acquisitions	-	-	-	-	-
Investments	-	-	-	-	-
Other Investing	0	0	0	0	10K
Cash from Financing+	3.47M	49.05M	-40K	-11.87M	0
Debt Issued (Net)	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-
Dividends Paid	0	0	0	-11.66M	0
Share Repurchases	-	-	-	-	-
Other Financing	0	-3.27M	-40K	-208K	0
Net Change in Cash	-	-	-	-	-
Free Cash Flow+	-32.67M	-49.23M	-52.52M	-50.48M	-20.84M
FCF Margin %	-0.94%	-1.21%	-1.08%	-0.77%	-
FCF Growth %	-	-0.51%	-0.07%	0.04%	0.59%
FCF per Share	-5.71	-7.87	-7.88	-7.58	-3.13
FCF Conversion (FCF/Net Income)	0.77x	0.90x	1.65x	-2.84x	1.31x
Interest Paid	0	0	0	0	0
Taxes Paid	0	0	0	0	0

Key Ratios

Metric	2021	2022	2023	2024	2025
Return on Equity (ROE)	-83.52%	-106.9%	-82.66%	61.68%	-63.84%
Return on Invested Capital (ROIC)	-92.07%	-118.52%	-82.6%	43.84%	-92.73%
Gross Margin	95.95%	100%	100%	100%	-
Net Margin	-118.73%	-133.8%	-65.22%	27.23%	-
Debt / Equity	0.17x	0.18x	0.52x	-	-
FCF Conversion	0.77x	0.90x	1.65x	-2.84x	1.31x
Revenue Growth	-	16.96%	19.95%	33.76%	-100%

Frequently Asked Questions

Growth & Financials

Lite Strategy, Inc. (LITS) saw revenue decline by 100.0% over the past year.

Lite Strategy, Inc. (LITS) reported a net loss of $39.2M for fiscal year 2025.

Dividend & Returns

Lite Strategy, Inc. (LITS) has a return on equity (ROE) of -63.8%. Negative ROE indicates the company is unprofitable.

Lite Strategy, Inc. (LITS) had negative free cash flow of $36.9M in fiscal year 2025, likely due to heavy capital investments.

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