ProQR Therapeutics N.V. (PRQR) 10-Year Financial Performance & Capital Metrics

PRQR • • Industrial / General

HealthcareBiotechnologyRare Genetic DiseasesGene Therapy & Rare Diseases

AboutProQR Therapeutics N.V., a biopharmaceutical company, engages in the discovery and development of RNA-based therapeutics for the treatment of genetic disorders. It primarily develops sepofarsen that is in phase II/III clinical trial illuminate trial for treating leber congenital amaurosis 10 disease; and ultevursen, which is in phase II/III clinical trial to treat USH2A-mediated retinitis pigmentosa and usher syndrome. The company also engages in the developing of Axiomer RNA base-editing platform technology. It has a license agreement with Radboud University Medical Center, Inserm Transfert SA, Ionis Pharmaceuticals, Inc., and Leiden University Medical Center, as well as license and research collaboration with Eli Lilly and Company for the discovery, development, and commercialization of potential new medicines for genetic disorders in the liver and nervous system. ProQR Therapeutics N.V. was incorporated in 2012 and is headquartered in Leiden, the Netherlands.Show more

Revenue $19M +190.2%
EBITDA -$28M +5.6%
Net Income -$28M +1.3%
EPS (Diluted) -0.34 +2.9%
Gross Margin 100%
EBITDA Margin -146.58% +67.5%
Operating Margin -161.18% +67.0%
Net Margin -146.86% +66.0%
ROE -41.35% +17.4%
ROIC -
Debt/Equity 0.19 -59.2%
Interest Coverage -28.29 -6.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 57.8%
✓Trading at only 1.5x book value

✗Weaknesses

✗Negative free cash flow
✗Weak momentum: RS Rating 17 (bottom 17%)
✗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

10Y50.7%

5Y57.79%

3Y141.93%

TTM-13%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-77.81%

EPS CAGR

10Y-

5Y-

3Y-

TTM-45.86%

ROCE

10Y Avg-42.22%

5Y Avg-32.98%

3Y Avg-29.43%

Latest-25.02%

Peer Comparison

Gene Therapy & Rare Diseases

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
KRYSKrystal Biotech, Inc.	8.18B	282.01	94.00	473.02%	53.3%	17.48%	1.46%	0.01
BMRNBioMarin Pharmaceutical Inc.	10.58B	55.07	24.92	17.97%	16.82%	8.59%	4.49%	0.11
SRPTSarepta Therapeutics, Inc.	2.23B	21.31	9.11	52.97%	-11.25%	-20.57%		0.88
RAREUltragenyx Pharmaceutical Inc.	2.27B	23.50	-3.74	29.01%	-91.95%	-35.88%		0.15
DYNDyne Therapeutics, Inc.	2.7B	16.42	-4.87			-61.26%		0.04
TVTXTravere Therapeutics, Inc.	2.54B	28.40	-6.96	60.55%	-20.32%	-120.36%		6.80
BEAMBeam Therapeutics Inc.	3.25B	32.05	-7.00	-83.18%	-7.44%	-42.92%		0.22
SLNOSoleno Therapeutics, Inc.	2.25B	41.95	-9.58		-79.5%	-15.85%		0.22

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	9.41M	2.28M	-1.53M	4.94M	1.93M	1.03M	1.33M	3.59M	6.51M	18.91M
Revenue Growth %	29.05%	-0.76%	-1.67%	4.23%	-0.61%	-0.47%	0.3%	1.69%	0.81%	1.9%
Cost of Goods Sold+	482.85K	1.28M	1M	983.51K	116.82M	0	0	0	0	0
COGS % of Revenue	0.05%	0.56%	-0.65%	0.2%	60.44%	-	-	-	-	-
Gross Profit+	8.92M	1M	-2.53M	3.96M	-114.89M	1.03M	1.33M	3.59M	6.51M	18.91M
Gross Margin %	0.95%	0.44%	1.65%	0.8%	-59.44%	1%	1%	1%	1%	1%
Gross Profit Growth %	27.51%	-0.89%	-3.53%	2.56%	-30.03%	1.01%	0.3%	1.69%	0.81%	1.9%
Operating Expenses+	30.24M	41.4M	41.99M	42.05M	59.38M	43.4M	58.55M	68.75M	38.37M	49.38M
OpEx % of Revenue	3.21%	18.14%	-27.46%	8.51%	30.72%	42.17%	43.85%	19.13%	5.89%	2.61%
Selling, General & Admin	6.84M	9.48M	10.84M	12.54M	12.89M	13.69M	17.37M	18.65M	16.24M	13.66M
SG&A % of Revenue	0.73%	4.15%	-7.09%	2.54%	6.67%	13.3%	13.01%	5.19%	2.49%	0.72%
Research & Development	23.4M	31.92M	31.15M	29.51M	46.49M	38.13M	42.22M	50.87M	25.15M	36.36M
R&D % of Revenue	2.49%	13.99%	-20.37%	5.97%	24.05%	37.06%	31.63%	14.15%	3.86%	1.92%
Other Operating Expenses	3.23M	1.83M	1.5M	5.76M	1.93M	-8.42M	-1.04M	-765K	-3.01M	-640K
Operating Income+	-27M	-39.57M	-40.5M	-36.29M	-57.45M	-42.37M	-57.21M	-65.16M	-31.86M	-30.47M
Operating Margin %	-2.87%	-17.34%	26.49%	-7.35%	-29.72%	-41.17%	-42.85%	-18.13%	-4.89%	-1.61%
Operating Income Growth %	-0.64%	-0.47%	-0.02%	0.1%	-0.58%	0.26%	-0.35%	-0.14%	0.51%	0.04%
EBITDA+	-26.52M	-38.29M	-39.5M	-35.31M	-55.4M	-40.01M	-54.88M	-62.64M	-29.35M	-27.71M
EBITDA Margin %	-2.82%	-16.78%	25.83%	-7.15%	-28.66%	-38.89%	-41.11%	-17.43%	-4.51%	-1.47%
EBITDA Growth %	-0.62%	-0.44%	-0.03%	0.11%	-0.57%	0.28%	-0.37%	-0.14%	0.53%	0.06%
D&A (Non-Cash Add-back)	480K	1.28M	1M	983.51K	2.05M	2.35M	2.33M	2.52M	2.51M	2.76M
EBIT	36.8M	-37.21M	0	-36.27M	-172.35M	-50.79M	-57.28M	-58.98M	-26.61M	-26.88M
Net Interest Income+	5.78M	-68K	-3.77M	-1.6M	-681K	-1.73M	-3.4M	-5.02M	1.39M	2.17M
Interest Income	6.17M	470K	-3.17M	-792K	402K	313K	5K	106K	2.59M	3.25M
Interest Expense	395K	538K	596K	810K	1.08M	2.04M	3.4M	5.13M	1.2M	1.08M
Other Income/Expense	6.17M	470K	850.31K	-792K	117.65M	-4.12M	-3.47M	1.05M	4.05M	2.51M
Pretax Income+	-20.83M	-39.1M	-43.67M	-37.09M	-56.61M	-46.49M	-60.68M	-64.11M	-27.81M	-27.96M
Pretax Margin %	-2.21%	-17.14%	28.56%	-7.51%	-29.29%	-45.18%	-45.45%	-17.84%	-4.27%	-1.48%
Income Tax+	0	0	2K	1K	132K	124K	117K	96K	-78K	-197K
Effective Tax Rate %	1%	1%	1%	0.99%	1%	1%	1%	1%	1.01%	0.99%
Net Income+	-20.83M	-39.1M	-43.64M	-36.89M	-56.75M	-46.56M	-60.74M	-64.42M	-28.12M	-27.76M
Net Margin %	-2.21%	-17.14%	28.54%	-7.47%	-29.36%	-45.25%	-45.5%	-17.93%	-4.32%	-1.47%
Net Income Growth %	-0.72%	-0.88%	-0.12%	0.15%	-0.54%	0.18%	-0.3%	-0.06%	0.56%	0.01%
Net Income (Continuing)	-20.83M	-39.1M	-43.64M	-36.89M	-56.75M	-46.61M	-60.8M	-64.2M	-27.73M	-27.76M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	-38K	-230K	-556.76K	-666.83K	-604K	-384K	0	0
EPS (Diluted)+	-0.89	-1.67	-1.72	-1.08	-1.38	-0.93	-0.96	-0.91	-0.35	-0.34
EPS Growth %	-0.62%	-0.88%	-0.03%	0.37%	-0.28%	0.33%	-0.03%	0.05%	0.62%	0.03%
EPS (Basic)	-0.89	-1.67	-1.72	-1.08	-1.38	-0.93	-0.96	-0.91	-0.35	-0.34
Diluted Shares Outstanding	23.34M	23.35M	25.37M	34.05M	41.04M	50.06M	64.18M	71.64M	81.01M	81.67M
Basic Shares Outstanding	23.34M	23.35M	25.37M	34.05M	41.04M	50.06M	64.18M	71.64M	81.01M	81.67M
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+	97.77M	62.02M	50.56M	108.37M	128.71M	97.91M	191.48M	154.46M	133.65M	153.84M
Cash & Short-Term Investments	94.86M	59.2M	48.1M	105.58M	125.66M	92.79M	187.52M	94.78M	131.37M	149.41M
Cash Only	94.86M	59.2M	48.1M	105.58M	125.66M	92.79M	187.52M	94.78M	131.37M	149.41M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	1.5M	1.56M	0	1.24M	1.34M	978.84K	0	56.25M	1.4M	0
Days Sales Outstanding	58.32	250.32	-	91.82	252.23	347.21	-	5.71K	78.49	-
Inventory	547K	1.17M	73K	899K	0	0	0	0	0	0
Days Inventory Outstanding	413.49	333.21	26.61	333.64	-	-	-	-	-	-
Other Current Assets	0	0	0	-2.79M	0	0	823K	982K	0	2.03M
Total Non-Current Assets+	2.34M	3.53M	2.54M	1.86M	3.22M	22.89M	18.1M	16.86M	18.67M	14.11M
Property, Plant & Equipment	2.2M	3.44M	2.5M	1.86M	2.74M	22.76M	17.47M	16.24M	18.67M	14.11M
Fixed Asset Turnover	4.28x	0.66x	-0.61x	2.65x	0.71x	0.05x	0.08x	0.22x	0.35x	1.34x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	141K	90K	39K	0	0	0	0	0	0	0
Long-Term Investments	0	0	0	0	481.55K	130.92K	629K	621K	0	0
Other Non-Current Assets	0	0	0	0	0	0	0	1	0	0
Total Assets+	100.11M	65.54M	53.1M	110.23M	131.93M	120.8M	209.58M	171.32M	152.31M	167.96M
Asset Turnover	0.09x	0.03x	-0.03x	0.04x	0.01x	0.01x	0.01x	0.02x	0.04x	0.11x
Asset Growth %	-0.13%	-0.35%	-0.19%	1.08%	0.2%	-0.08%	0.73%	-0.18%	-0.11%	0.1%
Total Current Liabilities+	5.49M	6.71M	8.49M	8.16M	12.34M	12.6M	27.6M	20.99M	37.78M	38.9M
Accounts Payable	885K	328K	546K	135K	499.51K	270.4K	191K	392K	1.7M	16K
Days Payables Outstanding	669	93.41	199.03	50.1	1.56	-	-	-	-	-
Short-Term Debt	0	0	1.96M	0	955.25K	2.93M	4.77M	2.5M	1.78M	4.58M
Deferred Revenue (Current)	144K	0	347K	545K	798.1K	856.49K	0	0	1000K	0
Other Current Liabilities	4.21M	6.07M	4.62M	7.48M	10.01M	8.54M	19.87M	15.59M	11.58M	31.26M
Current Ratio	17.82x	9.24x	5.95x	13.28x	10.43x	7.77x	6.94x	7.36x	3.54x	3.95x
Quick Ratio	17.72x	9.07x	5.94x	13.17x	10.43x	7.77x	6.94x	7.36x	3.54x	3.95x
Cash Conversion Cycle	-197.19	490.12	-	375.36	-	-	-	-	-	-
Total Non-Current Liabilities+	4.82M	5.7M	5.28M	9.39M	14.27M	39.01M	68.75M	83.65M	68.81M	40.5M
Long-Term Debt	4.82M	5.7M	5.28M	9.39M	14.27M	19.81M	39.32M	4.27M	4.74M	0
Capital Lease Obligations	0	0	0	0	0	19.2M	14.75M	13.81M	15.28M	11.07M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	0	0	0	14.69M	65.57M	0	29.43M
Total Liabilities	10.31M	12.41M	13.78M	17.55M	26.61M	51.61M	96.35M	104.64M	106.59M	79.4M
Total Debt+	4.84M	5.7M	7.24M	9.39M	15.22M	41.94M	60.37M	21.97M	21.8M	17.22M
Net Debt	-90.03M	-53.5M	-40.85M	-96.19M	-110.44M	-50.85M	-127.15M	-72.8M	-109.57M	-132.19M
Debt / Equity	0.05x	0.11x	0.18x	0.10x	0.14x	0.61x	0.53x	0.33x	0.48x	0.19x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-68.36x	-73.56x	-67.95x	-44.81x	-53.04x	-20.77x	-16.80x	-12.71x	-26.48x	-28.29x
Total Equity+	89.8M	53.14M	39.33M	92.69M	105.33M	69.19M	113.23M	66.68M	45.72M	88.56M
Equity Growth %	-0.18%	-0.41%	-0.26%	1.36%	0.14%	-0.34%	0.64%	-0.41%	-0.31%	0.94%
Book Value per Share	3.85	2.28	1.55	2.72	2.57	1.38	1.76	0.93	0.56	1.08
Total Shareholders' Equity	89.8M	53.14M	39.36M	92.92M	105.88M	69.85M	113.83M	67.06M	45.72M	88.56M
Common Stock	934K	934K	1.46M	1.73M	2.42M	2.65M	3M	3.37M	3.72M	4.31M
Retained Earnings	-36.63M	-75.73M	-119.37M	-155.44M	-237.68M	-315.37M	-317.77M	-379.11M	-442.8M	-427.16M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	1K	-15K	136K	108K	18.75M	29.26M	30.3M	30.26M	28.69M	27.6M
Minority Interest	0	0	-38K	-230K	-556.76K	-666.83K	-604K	-384K	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+	-24.23M	-34.22M	-34.95M	-30.68M	-43.97M	-47.06M	-26.01M	-68.51M	21.55M	-36.39M
Operating CF Margin %	-2.58%	-15%	22.86%	-6.21%	-22.75%	-45.73%	-19.48%	-19.06%	3.31%	-1.93%
Operating CF Growth %	-0.68%	-0.41%	-0.02%	0.12%	-0.43%	-0.07%	0.45%	-1.63%	1.31%	-2.69%
Net Income	-20.83M	-39.12M	-43.52M	-37.09M	-56.75M	-46.61M	-60.8M	-64.2M	-27.73M	-27.76M
Depreciation & Amortization	480K	1.25M	1.06M	992K	2.05M	2.35M	2.33M	2.52M	2.51M	2.76M
Stock-Based Compensation	1.21M	2.45M	4.02M	3.22M	9.11M	7.84M	6.22M	2.87M	3.11M	2.54M
Deferred Taxes	441K	236K	145K	102K	132K	124K	117K	96K	-78K	-197K
Other Non-Cash Items	-6.17M	-470K	3.17M	792K	-210K	-5.29M	1.11M	-4.8M	-5.21M	-474K
Working Capital Changes	637K	1.43M	164K	1.29M	1.69M	-5.47M	25.01M	-4.99M	48.96M	-13.26M
Change in Receivables	0	0	0	0	0	0	0	0	0	0
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	0	0	0	0	0	0	0	0	0	0
Cash from Investing+	-1.32M	-2.54M	-121K	-312K	-580K	-924K	-425K	-702K	4.28M	-4.07M
Capital Expenditures	-1.32M	-2.54M	-121K	-312K	-580K	-924K	-484K	-708K	-1.37M	-1.42M
CapEx % of Revenue	0.14%	1.11%	-0.08%	0.06%	0.3%	0.9%	0.36%	0.2%	0.21%	0.08%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-28K	0	0	0	0	0	59K	6K	5.65M	-2.65M
Cash from Financing+	1.62M	357K	26.64M	88.65M	50.2M	14.5M	136.83M	-30.89M	-2.27M	70.28M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	14K	2K	4K	870K	193K	735K	1.52M	34K	354K	223K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-25.56M	-36.76M	-35.07M	-30.99M	-44.55M	-47.98M	-26.5M	-69.22M	20.18M	-37.81M
FCF Margin %	-2.72%	-16.11%	22.94%	-6.27%	-23.05%	-46.63%	-19.85%	-19.26%	3.1%	-2%
FCF Growth %	-0.63%	-0.44%	0.05%	0.12%	-0.44%	-0.08%	0.45%	-1.61%	1.29%	-2.87%
FCF per Share	-1.09	-1.57	-1.38	-0.91	-1.09	-0.96	-0.41	-0.97	0.25	-0.46
FCF Conversion (FCF/Net Income)	1.16x	0.88x	0.80x	0.83x	0.77x	1.01x	0.43x	1.06x	-0.77x	1.31x
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)	-20.92%	-54.71%	-94.39%	-55.9%	-57.32%	-53.37%	-66.6%	-71.62%	-50.03%	-41.35%
Return on Invested Capital (ROIC)	-	-	-	-	-	-480.74%	-1945.08%	-	-	-
Gross Margin	94.87%	43.84%	165.49%	80.09%	-5943.61%	100%	100%	100%	100%	100%
Net Margin	-221.45%	-1713.54%	2853.96%	-746.69%	-2935.64%	-4525.27%	-4549.81%	-1792.54%	-431.67%	-146.86%
Debt / Equity	0.05x	0.11x	0.18x	0.10x	0.14x	0.61x	0.53x	0.33x	0.48x	0.19x
Interest Coverage	-68.36x	-73.56x	-67.95x	-44.81x	-53.04x	-20.77x	-16.80x	-12.71x	-26.48x	-28.29x
FCF Conversion	1.16x	0.88x	0.80x	0.83x	0.77x	1.01x	0.43x	1.06x	-0.77x	1.31x
Revenue Growth	2905.43%	-75.74%	-167%	423.15%	-60.88%	-46.77%	29.74%	169.21%	81.25%	190.22%

Revenue by Segment

	2021	2022	2023	2024
Up-front payments	252K	56.25M	6M	15.58M
Up-front payments Growth	-	22223.02%	-89.34%	159.91%
Milestone payments	-	-	-	5.1M
Milestone payments Growth	-	-	-	-
Premiums on share issue	168K	369K	-	-
Premiums on share issue Growth	-	119.64%	-	-
R&D services	282K	273K	-	-
R&D services Growth	-	-3.19%	-	-

Frequently Asked Questions

Growth & Financials

ProQR Therapeutics N.V. (PRQR) reported $15.6M in revenue for fiscal year 2024.

ProQR Therapeutics N.V. (PRQR) grew revenue by 190.2% over the past year. This is strong growth.

ProQR Therapeutics N.V. (PRQR) reported a net loss of $42.6M for fiscal year 2024.

Dividend & Returns

ProQR Therapeutics N.V. (PRQR) has a return on equity (ROE) of -41.4%. Negative ROE indicates the company is unprofitable.

ProQR Therapeutics N.V. (PRQR) had negative free cash flow of $49.4M in fiscal year 2024, likely due to heavy capital investments.

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ProQR Therapeutics N.V. (PRQR) 10-Year Financial Performance & Capital Metrics

PRQR • • Industrial / General

HealthcareBiotechnologyRare Genetic DiseasesGene Therapy & Rare Diseases

Revenue $19M +190.2%
EBITDA -$28M +5.6%
Net Income -$28M +1.3%
EPS (Diluted) -0.34 +2.9%
Gross Margin 100%
EBITDA Margin -146.58% +67.5%
Operating Margin -161.18% +67.0%
Net Margin -146.86% +66.0%
ROE -41.35% +17.4%
ROIC -
Debt/Equity 0.19 -59.2%
Interest Coverage -28.29 -6.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 57.8%
✓Trading at only 1.5x book value

✗Weaknesses

✗Negative free cash flow
✗Weak momentum: RS Rating 17 (bottom 17%)
✗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

10Y50.7%

5Y57.79%

3Y141.93%

TTM-13%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-77.81%

EPS CAGR

10Y-

5Y-

3Y-

TTM-45.86%

ROCE

10Y Avg-42.22%

5Y Avg-32.98%

3Y Avg-29.43%

Latest-25.02%

Peer Comparison

Gene Therapy & Rare Diseases

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
KRYSKrystal Biotech, Inc.	8.18B	282.01	94.00	473.02%	53.3%	17.48%	1.46%	0.01
BMRNBioMarin Pharmaceutical Inc.	10.58B	55.07	24.92	17.97%	16.82%	8.59%	4.49%	0.11
SRPTSarepta Therapeutics, Inc.	2.23B	21.31	9.11	52.97%	-11.25%	-20.57%		0.88
RAREUltragenyx Pharmaceutical Inc.	2.27B	23.50	-3.74	29.01%	-91.95%	-35.88%		0.15
DYNDyne Therapeutics, Inc.	2.7B	16.42	-4.87			-61.26%		0.04
TVTXTravere Therapeutics, Inc.	2.54B	28.40	-6.96	60.55%	-20.32%	-120.36%		6.80
BEAMBeam Therapeutics Inc.	3.25B	32.05	-7.00	-83.18%	-7.44%	-42.92%		0.22
SLNOSoleno Therapeutics, Inc.	2.25B	41.95	-9.58		-79.5%	-15.85%		0.22

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	9.41M	2.28M	-1.53M	4.94M	1.93M	1.03M	1.33M	3.59M	6.51M	18.91M
Revenue Growth %	29.05%	-0.76%	-1.67%	4.23%	-0.61%	-0.47%	0.3%	1.69%	0.81%	1.9%
Cost of Goods Sold+	482.85K	1.28M	1M	983.51K	116.82M	0	0	0	0	0
COGS % of Revenue	0.05%	0.56%	-0.65%	0.2%	60.44%	-	-	-	-	-
Gross Profit+	8.92M	1M	-2.53M	3.96M	-114.89M	1.03M	1.33M	3.59M	6.51M	18.91M
Gross Margin %	0.95%	0.44%	1.65%	0.8%	-59.44%	1%	1%	1%	1%	1%
Gross Profit Growth %	27.51%	-0.89%	-3.53%	2.56%	-30.03%	1.01%	0.3%	1.69%	0.81%	1.9%
Operating Expenses+	30.24M	41.4M	41.99M	42.05M	59.38M	43.4M	58.55M	68.75M	38.37M	49.38M
OpEx % of Revenue	3.21%	18.14%	-27.46%	8.51%	30.72%	42.17%	43.85%	19.13%	5.89%	2.61%
Selling, General & Admin	6.84M	9.48M	10.84M	12.54M	12.89M	13.69M	17.37M	18.65M	16.24M	13.66M
SG&A % of Revenue	0.73%	4.15%	-7.09%	2.54%	6.67%	13.3%	13.01%	5.19%	2.49%	0.72%
Research & Development	23.4M	31.92M	31.15M	29.51M	46.49M	38.13M	42.22M	50.87M	25.15M	36.36M
R&D % of Revenue	2.49%	13.99%	-20.37%	5.97%	24.05%	37.06%	31.63%	14.15%	3.86%	1.92%
Other Operating Expenses	3.23M	1.83M	1.5M	5.76M	1.93M	-8.42M	-1.04M	-765K	-3.01M	-640K
Operating Income+	-27M	-39.57M	-40.5M	-36.29M	-57.45M	-42.37M	-57.21M	-65.16M	-31.86M	-30.47M
Operating Margin %	-2.87%	-17.34%	26.49%	-7.35%	-29.72%	-41.17%	-42.85%	-18.13%	-4.89%	-1.61%
Operating Income Growth %	-0.64%	-0.47%	-0.02%	0.1%	-0.58%	0.26%	-0.35%	-0.14%	0.51%	0.04%
EBITDA+	-26.52M	-38.29M	-39.5M	-35.31M	-55.4M	-40.01M	-54.88M	-62.64M	-29.35M	-27.71M
EBITDA Margin %	-2.82%	-16.78%	25.83%	-7.15%	-28.66%	-38.89%	-41.11%	-17.43%	-4.51%	-1.47%
EBITDA Growth %	-0.62%	-0.44%	-0.03%	0.11%	-0.57%	0.28%	-0.37%	-0.14%	0.53%	0.06%
D&A (Non-Cash Add-back)	480K	1.28M	1M	983.51K	2.05M	2.35M	2.33M	2.52M	2.51M	2.76M
EBIT	36.8M	-37.21M	0	-36.27M	-172.35M	-50.79M	-57.28M	-58.98M	-26.61M	-26.88M
Net Interest Income+	5.78M	-68K	-3.77M	-1.6M	-681K	-1.73M	-3.4M	-5.02M	1.39M	2.17M
Interest Income	6.17M	470K	-3.17M	-792K	402K	313K	5K	106K	2.59M	3.25M
Interest Expense	395K	538K	596K	810K	1.08M	2.04M	3.4M	5.13M	1.2M	1.08M
Other Income/Expense	6.17M	470K	850.31K	-792K	117.65M	-4.12M	-3.47M	1.05M	4.05M	2.51M
Pretax Income+	-20.83M	-39.1M	-43.67M	-37.09M	-56.61M	-46.49M	-60.68M	-64.11M	-27.81M	-27.96M
Pretax Margin %	-2.21%	-17.14%	28.56%	-7.51%	-29.29%	-45.18%	-45.45%	-17.84%	-4.27%	-1.48%
Income Tax+	0	0	2K	1K	132K	124K	117K	96K	-78K	-197K
Effective Tax Rate %	1%	1%	1%	0.99%	1%	1%	1%	1%	1.01%	0.99%
Net Income+	-20.83M	-39.1M	-43.64M	-36.89M	-56.75M	-46.56M	-60.74M	-64.42M	-28.12M	-27.76M
Net Margin %	-2.21%	-17.14%	28.54%	-7.47%	-29.36%	-45.25%	-45.5%	-17.93%	-4.32%	-1.47%
Net Income Growth %	-0.72%	-0.88%	-0.12%	0.15%	-0.54%	0.18%	-0.3%	-0.06%	0.56%	0.01%
Net Income (Continuing)	-20.83M	-39.1M	-43.64M	-36.89M	-56.75M	-46.61M	-60.8M	-64.2M	-27.73M	-27.76M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	-38K	-230K	-556.76K	-666.83K	-604K	-384K	0	0
EPS (Diluted)+	-0.89	-1.67	-1.72	-1.08	-1.38	-0.93	-0.96	-0.91	-0.35	-0.34
EPS Growth %	-0.62%	-0.88%	-0.03%	0.37%	-0.28%	0.33%	-0.03%	0.05%	0.62%	0.03%
EPS (Basic)	-0.89	-1.67	-1.72	-1.08	-1.38	-0.93	-0.96	-0.91	-0.35	-0.34
Diluted Shares Outstanding	23.34M	23.35M	25.37M	34.05M	41.04M	50.06M	64.18M	71.64M	81.01M	81.67M
Basic Shares Outstanding	23.34M	23.35M	25.37M	34.05M	41.04M	50.06M	64.18M	71.64M	81.01M	81.67M
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+	97.77M	62.02M	50.56M	108.37M	128.71M	97.91M	191.48M	154.46M	133.65M	153.84M
Cash & Short-Term Investments	94.86M	59.2M	48.1M	105.58M	125.66M	92.79M	187.52M	94.78M	131.37M	149.41M
Cash Only	94.86M	59.2M	48.1M	105.58M	125.66M	92.79M	187.52M	94.78M	131.37M	149.41M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	1.5M	1.56M	0	1.24M	1.34M	978.84K	0	56.25M	1.4M	0
Days Sales Outstanding	58.32	250.32	-	91.82	252.23	347.21	-	5.71K	78.49	-
Inventory	547K	1.17M	73K	899K	0	0	0	0	0	0
Days Inventory Outstanding	413.49	333.21	26.61	333.64	-	-	-	-	-	-
Other Current Assets	0	0	0	-2.79M	0	0	823K	982K	0	2.03M
Total Non-Current Assets+	2.34M	3.53M	2.54M	1.86M	3.22M	22.89M	18.1M	16.86M	18.67M	14.11M
Property, Plant & Equipment	2.2M	3.44M	2.5M	1.86M	2.74M	22.76M	17.47M	16.24M	18.67M	14.11M
Fixed Asset Turnover	4.28x	0.66x	-0.61x	2.65x	0.71x	0.05x	0.08x	0.22x	0.35x	1.34x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	141K	90K	39K	0	0	0	0	0	0	0
Long-Term Investments	0	0	0	0	481.55K	130.92K	629K	621K	0	0
Other Non-Current Assets	0	0	0	0	0	0	0	1	0	0
Total Assets+	100.11M	65.54M	53.1M	110.23M	131.93M	120.8M	209.58M	171.32M	152.31M	167.96M
Asset Turnover	0.09x	0.03x	-0.03x	0.04x	0.01x	0.01x	0.01x	0.02x	0.04x	0.11x
Asset Growth %	-0.13%	-0.35%	-0.19%	1.08%	0.2%	-0.08%	0.73%	-0.18%	-0.11%	0.1%
Total Current Liabilities+	5.49M	6.71M	8.49M	8.16M	12.34M	12.6M	27.6M	20.99M	37.78M	38.9M
Accounts Payable	885K	328K	546K	135K	499.51K	270.4K	191K	392K	1.7M	16K
Days Payables Outstanding	669	93.41	199.03	50.1	1.56	-	-	-	-	-
Short-Term Debt	0	0	1.96M	0	955.25K	2.93M	4.77M	2.5M	1.78M	4.58M
Deferred Revenue (Current)	144K	0	347K	545K	798.1K	856.49K	0	0	1000K	0
Other Current Liabilities	4.21M	6.07M	4.62M	7.48M	10.01M	8.54M	19.87M	15.59M	11.58M	31.26M
Current Ratio	17.82x	9.24x	5.95x	13.28x	10.43x	7.77x	6.94x	7.36x	3.54x	3.95x
Quick Ratio	17.72x	9.07x	5.94x	13.17x	10.43x	7.77x	6.94x	7.36x	3.54x	3.95x
Cash Conversion Cycle	-197.19	490.12	-	375.36	-	-	-	-	-	-
Total Non-Current Liabilities+	4.82M	5.7M	5.28M	9.39M	14.27M	39.01M	68.75M	83.65M	68.81M	40.5M
Long-Term Debt	4.82M	5.7M	5.28M	9.39M	14.27M	19.81M	39.32M	4.27M	4.74M	0
Capital Lease Obligations	0	0	0	0	0	19.2M	14.75M	13.81M	15.28M	11.07M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	0	0	0	14.69M	65.57M	0	29.43M
Total Liabilities	10.31M	12.41M	13.78M	17.55M	26.61M	51.61M	96.35M	104.64M	106.59M	79.4M
Total Debt+	4.84M	5.7M	7.24M	9.39M	15.22M	41.94M	60.37M	21.97M	21.8M	17.22M
Net Debt	-90.03M	-53.5M	-40.85M	-96.19M	-110.44M	-50.85M	-127.15M	-72.8M	-109.57M	-132.19M
Debt / Equity	0.05x	0.11x	0.18x	0.10x	0.14x	0.61x	0.53x	0.33x	0.48x	0.19x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-68.36x	-73.56x	-67.95x	-44.81x	-53.04x	-20.77x	-16.80x	-12.71x	-26.48x	-28.29x
Total Equity+	89.8M	53.14M	39.33M	92.69M	105.33M	69.19M	113.23M	66.68M	45.72M	88.56M
Equity Growth %	-0.18%	-0.41%	-0.26%	1.36%	0.14%	-0.34%	0.64%	-0.41%	-0.31%	0.94%
Book Value per Share	3.85	2.28	1.55	2.72	2.57	1.38	1.76	0.93	0.56	1.08
Total Shareholders' Equity	89.8M	53.14M	39.36M	92.92M	105.88M	69.85M	113.83M	67.06M	45.72M	88.56M
Common Stock	934K	934K	1.46M	1.73M	2.42M	2.65M	3M	3.37M	3.72M	4.31M
Retained Earnings	-36.63M	-75.73M	-119.37M	-155.44M	-237.68M	-315.37M	-317.77M	-379.11M	-442.8M	-427.16M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	1K	-15K	136K	108K	18.75M	29.26M	30.3M	30.26M	28.69M	27.6M
Minority Interest	0	0	-38K	-230K	-556.76K	-666.83K	-604K	-384K	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+	-24.23M	-34.22M	-34.95M	-30.68M	-43.97M	-47.06M	-26.01M	-68.51M	21.55M	-36.39M
Operating CF Margin %	-2.58%	-15%	22.86%	-6.21%	-22.75%	-45.73%	-19.48%	-19.06%	3.31%	-1.93%
Operating CF Growth %	-0.68%	-0.41%	-0.02%	0.12%	-0.43%	-0.07%	0.45%	-1.63%	1.31%	-2.69%
Net Income	-20.83M	-39.12M	-43.52M	-37.09M	-56.75M	-46.61M	-60.8M	-64.2M	-27.73M	-27.76M
Depreciation & Amortization	480K	1.25M	1.06M	992K	2.05M	2.35M	2.33M	2.52M	2.51M	2.76M
Stock-Based Compensation	1.21M	2.45M	4.02M	3.22M	9.11M	7.84M	6.22M	2.87M	3.11M	2.54M
Deferred Taxes	441K	236K	145K	102K	132K	124K	117K	96K	-78K	-197K
Other Non-Cash Items	-6.17M	-470K	3.17M	792K	-210K	-5.29M	1.11M	-4.8M	-5.21M	-474K
Working Capital Changes	637K	1.43M	164K	1.29M	1.69M	-5.47M	25.01M	-4.99M	48.96M	-13.26M
Change in Receivables	0	0	0	0	0	0	0	0	0	0
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	0	0	0	0	0	0	0	0	0	0
Cash from Investing+	-1.32M	-2.54M	-121K	-312K	-580K	-924K	-425K	-702K	4.28M	-4.07M
Capital Expenditures	-1.32M	-2.54M	-121K	-312K	-580K	-924K	-484K	-708K	-1.37M	-1.42M
CapEx % of Revenue	0.14%	1.11%	-0.08%	0.06%	0.3%	0.9%	0.36%	0.2%	0.21%	0.08%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-28K	0	0	0	0	0	59K	6K	5.65M	-2.65M
Cash from Financing+	1.62M	357K	26.64M	88.65M	50.2M	14.5M	136.83M	-30.89M	-2.27M	70.28M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	14K	2K	4K	870K	193K	735K	1.52M	34K	354K	223K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-25.56M	-36.76M	-35.07M	-30.99M	-44.55M	-47.98M	-26.5M	-69.22M	20.18M	-37.81M
FCF Margin %	-2.72%	-16.11%	22.94%	-6.27%	-23.05%	-46.63%	-19.85%	-19.26%	3.1%	-2%
FCF Growth %	-0.63%	-0.44%	0.05%	0.12%	-0.44%	-0.08%	0.45%	-1.61%	1.29%	-2.87%
FCF per Share	-1.09	-1.57	-1.38	-0.91	-1.09	-0.96	-0.41	-0.97	0.25	-0.46
FCF Conversion (FCF/Net Income)	1.16x	0.88x	0.80x	0.83x	0.77x	1.01x	0.43x	1.06x	-0.77x	1.31x
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)	-20.92%	-54.71%	-94.39%	-55.9%	-57.32%	-53.37%	-66.6%	-71.62%	-50.03%	-41.35%
Return on Invested Capital (ROIC)	-	-	-	-	-	-480.74%	-1945.08%	-	-	-
Gross Margin	94.87%	43.84%	165.49%	80.09%	-5943.61%	100%	100%	100%	100%	100%
Net Margin	-221.45%	-1713.54%	2853.96%	-746.69%	-2935.64%	-4525.27%	-4549.81%	-1792.54%	-431.67%	-146.86%
Debt / Equity	0.05x	0.11x	0.18x	0.10x	0.14x	0.61x	0.53x	0.33x	0.48x	0.19x
Interest Coverage	-68.36x	-73.56x	-67.95x	-44.81x	-53.04x	-20.77x	-16.80x	-12.71x	-26.48x	-28.29x
FCF Conversion	1.16x	0.88x	0.80x	0.83x	0.77x	1.01x	0.43x	1.06x	-0.77x	1.31x
Revenue Growth	2905.43%	-75.74%	-167%	423.15%	-60.88%	-46.77%	29.74%	169.21%	81.25%	190.22%

Revenue by Segment

	2021	2022	2023	2024
Up-front payments	252K	56.25M	6M	15.58M
Up-front payments Growth	-	22223.02%	-89.34%	159.91%
Milestone payments	-	-	-	5.1M
Milestone payments Growth	-	-	-	-
Premiums on share issue	168K	369K	-	-
Premiums on share issue Growth	-	119.64%	-	-
R&D services	282K	273K	-	-
R&D services Growth	-	-3.19%	-	-

Frequently Asked Questions

Growth & Financials

ProQR Therapeutics N.V. (PRQR) reported $15.6M in revenue for fiscal year 2024.

ProQR Therapeutics N.V. (PRQR) grew revenue by 190.2% over the past year. This is strong growth.

ProQR Therapeutics N.V. (PRQR) reported a net loss of $42.6M for fiscal year 2024.

Dividend & Returns

ProQR Therapeutics N.V. (PRQR) has a return on equity (ROE) of -41.4%. Negative ROE indicates the company is unprofitable.

ProQR Therapeutics N.V. (PRQR) had negative free cash flow of $49.4M in fiscal year 2024, likely due to heavy capital investments.