Revenue remains sporadic and non-recurring, with the firm reporting $8.7 million in 2026Q1 while SG&A expenses escalated to $18.6 million, indicating a persistent inability to cover overhead through core operations.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Sales/Revenue | 14.54M | 5.82M | 0 | 3.5M | 1.41M | 3M | 10M | 0 | 3M | 837K | 889K | 1.04M | 925K | 2.04M | 4.4M | 1.85M | 481K | 352K | 291K | 57K | 0 | 0 | 549K | 1.29M | 1.15M | 243K | 107K | 15K | 100K | 435K | 167K |
| Revenue Growth % | - | - | -100% | 147.52% | -52.87% | -70% | - | -100% | 258.18% | -5.85% | -14.52% | 12.43% | -54.7% | -53.63% | 138.31% | 284.2% | 36.65% | 20.96% | 410.53% | - | - | -100% | -57.61% | 12.9% | 372.02% | 127.1% | 613.33% | -85% | -77.01% | 160.48% | -94.33% |
| Cost of Goods Sold | 6.99M | 1.53M | 2.91M | 1.6M | 450K | 0 | 0 | 48.57M | 38.7M | 16.99M | 10.65M | 0 | 0 | 125K | 267K | 1.22M | 140K | 0 | 0 | 0 | 0 | 0 | 239K | 277K | 107K | 0 | 0 | 0 | 0 | 580K | 8.31M |
| COGS % of Revenue | - | 26.32% | - | 45.86% | 31.82% | - | - | - | 1290.79% | 2029.75% | 1198.54% | - | - | 6.12% | 6.06% | 65.8% | 29.11% | - | - | - | - | - | 43.53% | 21.39% | 9.33% | - | - | - | - | 133.33% | 4978.44% |
| Gross Profit | 7.55M | 4.29M | -2.91M | 1.9M | 964K | 3M | 10M | -48.57M | -35.7M | -16.15M | -9.77M | 1.04M | 925K | 1.92M | 4.14M | 632K | 341K | 352K | 291K | 57K | 0 | -9.62M | 310K | 1.02M | 1.04M | 243K | 107K | 15K | 100K | -145K | -8.15M |
| Gross Margin % | 51.93% | 73.68% | - | 54.14% | 68.18% | 100% | 100% | - | -1190.79% | -1929.75% | -1098.54% | 100% | 100% | 93.88% | 93.94% | 34.2% | 70.89% | 100% | 100% | 100% | - | - | 56.47% | 78.61% | 90.67% | 100% | 100% | 100% | 100% | -33.33% | -4878.44% |
| Gross Profit Growth % | - | 247.51% | -253.4% | 96.58% | -67.87% | -70% | 120.59% | -36.04% | -121.03% | -65.39% | -1039.04% | 12.43% | -51.75% | -53.66% | 554.59% | 85.34% | -3.13% | 20.96% | 410.53% | - | 100% | -3203.87% | -69.55% | -2.12% | 327.98% | 127.1% | 613.33% | -85% | 168.97% | 98.22% | -376.64% |
| Operating Expenses | 100.3M | 93.74M | 61.3M | 49.03M | 51.88M | 92.84M | 91.42M | 28.52M | 61.16M | 28.67M | 24.77M | 19.59M | 4.06M | 5.72M | 8.45M | 8.28M | 7.86M | 10.03M | 17.21M | 6.96M | 4.87M | 7.18M | 6.31M | 6.44M | 9.74M | 6.55M | 6.17M | 3.36M | 3.5M | 4.38M | 3.47M |
| OpEx % of Revenue | - | 1610.58% | - | 1400.86% | 3668.95% | 3094.53% | 914.2% | - | 2040.16% | 3425.69% | 2786.28% | 1883.27% | 438.49% | 280.17% | 191.94% | 447.78% | 1634.1% | 2848.86% | 5912.71% | 12205.26% | - | - | 1149.91% | 497.61% | 849.17% | 2695.88% | 5761.68% | 22426.67% | 3500% | 1006.67% | 2075.45% |
| Selling, General & Admin | 73.88M | 65.03M | 29.85M | 19M | 17.26M | 21.64M | 23.78M | 20.7M | 20.11M | 10.94M | 13.29M | 14.32M | 3.71M | 4.83M | 6.02M | 5.75M | 4.51M | 7.11M | 4.34M | 4.08M | 2.81M | 4.4M | 3.2M | 2.51M | 2.28M | 1.96M | 1.74M | 1.47M | 1.5M | 1.78M | 1.94M |
| SG&A % of Revenue | - | 1117.37% | - | 542.97% | 1220.37% | 721.47% | 237.79% | - | 670.65% | 1307.41% | 1494.94% | 1376.92% | 401.3% | 236.73% | 136.78% | 311.42% | 937.84% | 2020.45% | 1491.41% | 7150.88% | - | - | 582.7% | 194.13% | 198.52% | 806.17% | 1622.43% | 9806.67% | 1500% | 410.11% | 1160.48% |
| Research & Development | 26.43M | 26.81M | 34.36M | 31.09M | 28.96M | 38.73M | 30.14M | 53.77M | 38.7M | 16.99M | 10.65M | 4.71M | 333K | 884K | 2.01M | 3.58M | 3.35M | 2.66M | 12.61M | 2.6M | 2.05M | 2.78M | 2.33M | 2.55M | 7.02M | 4.17M | 4.01M | 1.61M | 1.8M | 2.43M | 1.41M |
| R&D % of Revenue | - | 460.69% | - | 888.31% | 2048.44% | 1290.87% | 301.39% | - | 1290.79% | 2029.75% | 1198.54% | 453.37% | 36% | 43.29% | 45.64% | 193.67% | 696.26% | 754.83% | 4334.36% | 4564.91% | - | - | 425.32% | 196.83% | 612.38% | 1717.7% | 3744.86% | 10720% | 1800% | 559.31% | 841.32% |
| Other Operating Expenses | 0 | 1.89M | -2.91M | -1.06M | 5.66M | 32.47M | 37.5M | -45.95M | 2.36M | 741K | 825K | 551K | 11K | 3K | 419K | -1.06M | 0 | 259K | 253K | 279K | 0 | 0 | 779K | 1.38M | 439K | 418K | 422K | 285K | 200K | 162K | 123K |
| Operating Income | -92.75M | -89.45M | -64.21M | -47.13M | -50.91M | -89.84M | -81.42M | -77.09M | -58.17M | -27.84M | -23.88M | -18.55M | -3.13M | -3.8M | -4.32M | -7.88M | -7.76M | -9.68M | -16.91M | -6.9M | -5.17M | -9.62M | -6M | -5.43M | -8.7M | -6.31M | -6.06M | -3.35M | -3.5M | -4.52M | -11.61M |
| Operating Margin % | -637.92% | -1536.91% | - | -1346.71% | -3600.78% | -2994.53% | -814.2% | - | -1940.16% | -3325.69% | -2686.28% | -1783.27% | -338.49% | -186.29% | -98% | -426.19% | -1612.68% | -2748.86% | -5812.71% | -12105.26% | - | - | -1093.44% | -419% | -758.5% | -2595.88% | -5661.68% | -22326.67% | -3500% | -1040% | -6953.89% |
| Operating Income Growth % | - | -39.3% | -36.23% | 7.42% | 43.32% | -10.34% | -5.62% | -32.53% | -108.96% | -16.56% | -28.77% | -492.33% | 17.69% | 11.86% | 45.2% | -1.53% | 19.83% | 42.8% | -145.14% | -33.33% | 46.22% | -60.29% | -10.63% | 37.63% | -37.92% | -4.13% | -80.89% | 4.31% | 22.63% | 61.04% | -3505.57% |
| EBITDA | -89.14M | -85.89M | -61.3M | -43.94M | -46.34M | -85.37M | -75.82M | -69.27M | -55.81M | -27.09M | -23.06M | -18M | -3.12M | -3.8M | -3.9M | -7.64M | -7.52M | -9.42M | -16.6M | -6.62M | 1.88M | -8.05M | -4.93M | -4.53M | -8.01M | -5.68M | -5.58M | -3.06M | -3.3M | -4.36M | -11.49M |
| EBITDA Margin % | -613.05% | -1475.69% | - | -1255.34% | -3277.09% | -2845.73% | -758.19% | - | -1861.44% | -3237.16% | -2593.48% | -1730.29% | -337.3% | -186.14% | -88.49% | -413.58% | -1563.2% | -2675.28% | -5703.78% | -11615.79% | - | - | -897.45% | -349.65% | -698.69% | -2337.86% | -5216.82% | -20426.67% | -3300% | -1002.76% | -6880.24% |
| EBITDA Growth % | -33.82% | -40.1% | -39.53% | 5.18% | 45.72% | -12.6% | -9.45% | -24.13% | -105.96% | -17.52% | -28.12% | -476.76% | 17.92% | 2.46% | 49.01% | -1.65% | 20.16% | 43.26% | -150.69% | -451.62% | 123.4% | -63.34% | -8.81% | 43.5% | -41.07% | -1.77% | -82.18% | 7.15% | 24.35% | 62.04% | -3327.53% |
| D&A (Non-Cash Add-back) | 3.62M | 3.56M | 2.91M | 3.2M | 4.58M | 4.46M | 5.6M | 7.82M | 2.36M | 741K | 825K | 551K | 11K | 3K | 419K | 233K | 238K | 259K | 317K | 279K | 7.06M | 1.57M | 1.08M | 898K | 686K | 627K | 476K | 285K | 200K | 162K | 123K |
| EBIT | 63.02M | -89.45M | -59.53M | -53.77M | -38.96M | -81.28M | -80.12M | -77.09M | -56.67M | -27.32M | -21.87M | -14.52M | -26.2M | 4.73M | -9.92M | -2.52M | -6.93M | -9.68M | -30.73M | -18.4M | -5.99M | -9.52M | -6M | -5.43M | -8.7M | -6.31M | -6.06M | -3.35M | -3.5M | -4.52M | -11.61M |
| Net Interest Income | 2.03M | 1.82M | 38K | 1.7M | -305K | -3.62M | -2.81M | 808K | 1.5M | 517K | 2.01M | 4.02M | -537K | -28K | -366K | 1.33M | 1.44M | -510K | -700K | -3.39M | 0 | 0 | -1.39M | -1.28M | -1.28M | -1.17M | -342K | 0 | 0 | 0 | -45K |
| Interest Income | 5.6M | 5.56M | 4.25M | 2.12M | 431K | 40K | 1.3M | 1.21M | 1.51M | 525K | 2.01M | 4.03M | 45K | 251K | 242K | 1.33M | 2.05M | 29K | 211K | 125K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 3.57M | 3.74M | 4.21M | 418K | 736K | 3.66M | 4.12M | 400K | 11K | 8K | 6K | 6K | 582K | 279K | 608K | 0 | 607K | 539K | 911K | 3.51M | 7.44M | 2.1M | 1.39M | 1.28M | 1.28M | 1.17M | 342K | 0 | 0 | 0 | 45K |
| Other Income/Expense | 158.99M | 160.73M | 477K | -7.05M | 11.22M | 4.9M | -2.81M | 808K | 1.5M | 517K | 2.01M | 4.02M | -23.65M | 8.25M | -6.22M | 5.36M | 220K | -7.15M | -300K | -15.02M | -8.25M | -4.07M | -1.16M | -1M | -684K | 281K | 630K | 41K | 0 | 83K | 151K |
| Pretax Income | 66.24M | 71.28M | -63.73M | -54.19M | -39.7M | -84.94M | -84.23M | -76.28M | -56.67M | -27.32M | -21.87M | -14.53M | -26.78M | 4.45M | -10.53M | -2.52M | -7.54M | -16.83M | -17.21M | -21.92M | -13.42M | -11.62M | -10.24M | -6.43M | -9.38M | -6.03M | -5.43M | -3.31M | 0 | -4.44M | -11.46M |
| Pretax Margin % | 455.56% | 1224.79% | - | -1548.23% | -2807.36% | -2831.2% | -842.34% | - | -1890.29% | -3263.92% | -2460.4% | -1396.73% | -2894.92% | 217.87% | -239.15% | -136.09% | -1566.94% | -4781.25% | -5915.81% | -38450.88% | - | - | -1864.85% | -496.37% | -818.13% | -2480.25% | -5072.9% | -22053.33% | - | -1020.92% | -6863.47% |
| Income Tax | 102K | 100K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 17K | 0 | 7.66M | 0 | -61K | -173K | -4.07M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0.15% | 0.14% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -0.68% | 0% | -45.54% | 0% | 0.28% | 1.29% | 34.99% | 0% | 0% | 0% | 0% | 0% | 0% | - | 0% | 0% |
| Net Income | 66.14M | 71.18M | -63.73M | -54.19M | -39.7M | -84.94M | -84.23M | -76.28M | -56.67M | -27.32M | -21.87M | -14.53M | -26.78M | 4.45M | -10.53M | -2.53M | -7.54M | -17.34M | -31.43M | -21.74M | -12.87M | -1.7M | -10.24M | -6.93M | -9.38M | -6.03M | -5.43M | -3.31M | -3.4M | -4.44M | -11.46M |
| Net Margin % | 454.86% | 1223.08% | - | -1548.23% | -2807.36% | -2831.2% | -842.34% | - | -1890.29% | -3263.92% | -2460.4% | -1396.73% | -2894.92% | 217.87% | -239.15% | -137.01% | -1566.94% | -4926.14% | -10801.03% | -38147.37% | - | - | -1864.85% | -535.52% | -818.13% | -2480.25% | -5072.9% | -22053.33% | -3400% | -1020.92% | -6863.47% |
| Net Income Growth % | 249.68% | 211.69% | -17.62% | -36.51% | 53.26% | -0.83% | -10.42% | -34.61% | -107.44% | -24.9% | -50.58% | 45.75% | -701.89% | 142.24% | -315.96% | 66.41% | 56.53% | 44.83% | -44.55% | -68.9% | -657.29% | 83.4% | -47.63% | 26.1% | -55.7% | -11.04% | -64.09% | 2.71% | 23.44% | 61.25% | -3461.29% |
| Net Income (Continuing) | 66.14M | 71.18M | -63.73M | -54.19M | -39.7M | -84.94M | -84.23M | -76.28M | -56.67M | -27.32M | -21.87M | -14.53M | -26.78M | 4.45M | -10.53M | -2.53M | -7.54M | -17.34M | -17.21M | -21.86M | -13.25M | -7.55M | -7.16M | -6.43M | -9.38M | -6.03M | -5.43M | -3.31M | -3.4M | -4.44M | -11.46M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 1.17 | 1.01 | -1.55 | -2.53 | -5.53 | -21.50 | -22.75 | -38.07 | -29.81 | -16.40 | -16.00 | -13.16 | -381.50 | 76.00 | -650.00 | -275.00 | -750.00 | -2037.50 | -5200.00 | -12900.00 | -4557.17 | -656.62 | -4225.00 | -3262.50 | -4477.10 | -2930.00 | -3073.61 | -3396.30 | -6204.38 | -11102.50 | -28655.00 |
| EPS Growth % | 199.46% | 165.16% | 38.74% | 54.25% | 74.28% | 5.49% | 40.24% | -27.71% | -81.77% | -2.5% | -21.58% | 96.55% | -601.97% | 111.69% | -136.36% | 63.33% | 63.19% | 60.82% | 59.69% | -183.07% | -594.03% | 84.46% | -29.5% | 27.13% | -52.8% | 4.67% | 9.5% | 45.26% | 44.12% | 61.25% | -175.63% |
| EPS (Basic) | - | 1.34 | -1.55 | -2.53 | -5.53 | -21.50 | -22.75 | -38.07 | -29.81 | -16.40 | -16.00 | -13.16 | -381.50 | 76.75 | -650.00 | -275.00 | -750.00 | -2037.50 | -5200.00 | -12900.00 | -4557.17 | -656.62 | -4225.00 | -3262.50 | -4477.10 | -2930.00 | -3073.61 | -3396.30 | -6204.38 | -11102.50 | -955166.67 |
| Diluted Shares Outstanding | 56.62M | 66.14M | 41.05M | 21.38M | 7.86M | 3.94M | 3.71M | 2.01M | 1.9M | 1.67M | 1.37M | 1.1M | 19.43K | 20.38K | 19.34K | 15.99K | 12.51K | 9.45K | 6.68K | 2.84K | 2.83K | 2.59K | 2.42K | 2.12K | 2.1K | 2.06K | 1.77K | 974 | 548 | 400 | 400 |
| Basic Shares Outstanding | 56.62M | 52.95M | 41.05M | 21.38M | 7.86M | 3.94M | 3.71M | 2.01M | 1.9M | 1.67M | 1.37M | 1.1M | 19.43K | 20.19K | 19.34K | 15.99K | 12.51K | 9.45K | 6.68K | 2.84K | 2.83K | 2.59K | 2.42K | 2.12K | 2.1K | 2.06K | 1.77K | 974 | 548 | 400 | 400 |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Regulatory approval and liquidity
As indicated by the quarterly financial data, ABEO's revenue remains sporadic and non-recurring, with the firm reporting $8.7 million in 2026Q1 following multiple periods of zero revenue, highlighting the company's current status as a pre-commercial entity reliant on milestone payments rather than sustainable product sales.
The absence of a consistent revenue stream underscores the speculative nature of the current valuation. Investors should monitor whether future revenue growth can transition from transactional licensing to recurring product-based income, as the current trajectory is entirely dependent on clinical and regulatory milestones.
Based on the provided income statement, SG&A expenses have trended upward to $18.6 million in 2026Q1, reflecting a significant increase in administrative and operational overhead that continues to outpace the company's ability to generate meaningful gross profit from its limited licensing activities.
The rising SG&A burden suggests that the company is scaling its corporate infrastructure in anticipation of commercialization, yet this creates a widening gap between operating expenses and revenue. This cost structure warrants further investigation into whether these expenditures are effectively supporting the BLA resubmission process or merely inflating the burn rate.
As reported in financial statements, the company's net income has experienced extreme volatility, including a $108.8 million gain in 2025Q2, which appears to be an accounting anomaly rather than a reflection of core operational performance or sustainable profitability for the biotechnology firm.
The massive swings in net income, contrasted with persistent operating losses, suggest that investors should focus exclusively on the operating margin to gauge true performance. The reliance on non-operating items to bolster the bottom line obscures the underlying cash burn, which remains the primary concern for long-term solvency.
According to recent SEC filings and context, the receipt of a Complete Response Letter from the FDA introduces significant uncertainty, as the company's $78.4 million cash position may be insufficient to cover the extended development timeline required to address regulatory deficiencies and achieve market entry.
Short-sellers would likely focus on the potential for dilutive financing if the regulatory path remains blocked, as the current cash runway is finite. The market may be underestimating the risk that additional clinical data requirements could force a capital raise at a time when the company lacks a clear commercial catalyst.
Quick answers to the most common questions about buying ABEO stock.
For fiscal year 2025, Abeona Therapeutics Inc. (ABEO) reported total revenue of $5.8M. This represents a 3385.0% increase compared to $0.2M in 1996.
Abeona Therapeutics Inc. (ABEO) is profitable, generating $71.2M in net income for the fiscal year ending 2025 with a net profit margin of 1223.1%.
Abeona Therapeutics Inc. (ABEO) reported an operating income of $-89.4M, resulting in an operating profit margin of -1536.9%. This margin reflects the operational efficiency of the business before interest and taxes.
Abeona Therapeutics Inc. (ABEO) generated $4.3M in gross profit for the year, representing a gross profit margin of 73.7%. This demonstrates the company's core pricing power and production efficiency.