Abivax S.A. (ABVX) 10-Year Financial Performance & Capital Metrics

ABVX •

HealthcareBiotechnologyImmunology and Inflammation Therapies

AboutABIVAX Société Anonyme discovers and optimizes drugs for the treatment of inflammatory diseases, infectious diseases, and cancer in France. Its principal products include ABX464 that is in Phase IIb clinical trials for the treatment of ulcerative colitis and Crohn's Disease, as well as for COVID-19; Phase IIa clinical trial for the treatment of rheumatoid arthritis diseases; and has completed Phase IIa clinical trial for the treatment of viral remission in patients with HIV. It also develops ABX 196, an immune enhancer candidate that is in Phase 1/2 clinical trials for the treatment of hepatocellular cancer. In addition, the company engages in the research programs for the treatment of Dengue fever, influenza, and respiratory syncytial virus. ABIVAX Société Anonyme has license contracts with the French National Centre for Scientific Research, the University of Montpellier, and the Institut Curie. The company was incorporated in 2013 and is headquartered in Paris, France.Show more

Revenue $11M +133.5%
EBITDA -$172M -35.7%
Net Income -$176M -19.3%
EPS (Diluted) -2.80 +18.4%
Gross Margin 100% +1.0%
EBITDA Margin -1592.7% +41.9%
Operating Margin -1602.89% +41.8%
Net Margin -1633.08% +48.9%
ROE -148.98% -2.5%
ROIC -
Debt/Equity 2.40 +710.1%
Interest Coverage -41.33 -348.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 98 (top 2%)
✓Strong 5Y sales CAGR of 457.7%

✗Weaknesses

✗High debt to equity ratio of 2.4x
✗Negative free cash flow
✗Shares diluted 46.4% in last year
✗Expensive at 159.7x book value
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y94.4%

5Y457.72%

3Y563.18%

TTM125.09%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-126.42%

EPS CAGR

10Y-

5Y-

3Y-

TTM12%

ROCE

10Y Avg-67.9%

5Y Avg-94.25%

3Y Avg-107.88%

Latest-98.47%

Peer Comparison

Immunology and Inflammation Therapies

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TGTXTG Therapeutics, Inc.	4.75B	30.09	200.60	40.8%	13.31%	21.87%		1.14
APLSApellis Pharmaceuticals, Inc.	2.65B	20.96	116.44	-11.77%	3.25%	7.48%	1.71%	0.30
ARGXargenx SE	47.46B	766.92	60.01	78.6%	23.34%	15.14%		0.01
KNSAKiniksa Pharmaceuticals, Ltd.	3.39B	44.49	59.32	60.09%	17.52%	20.92%	0.75%	0.02
AUPHAurinia Pharmaceuticals Inc.	1.88B	14.17	6.85	20.38%	101.47%	49.4%	7.22%	0.13
GLPGGalapagos N.V.	2.22B	33.66	5.88	303.48%	28.85%	9.92%		0.00
AKTXAkari Therapeutics, Plc	12.56B	0.24	-0.00			-69.35%		0.15
RAPTRAPT Therapeutics, Inc.	7.65B	57.98	-2.27			-69.51%		0.02

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	42K	127K	10K	18K	2K	63K	37K	4.58M	4.62M	10.79M
Revenue Growth %	200%	202.38%	-92.13%	80%	-88.89%	3050%	-41.27%	12286.49%	0.83%	133.54%
Cost of Goods Sold+	345K	14.64M	14.51M	68K	28.19M	33.78M	156K	110K	0	0
COGS % of Revenue	821.43%	11531.5%	145070%	377.78%	1409400%	53623.81%	421.62%	2.4%	-	-
Gross Profit+	-303K	-14.52M	-6K	-50K	-28.19M	-33.77M	-119K	4.47M	4.57M	10.79M
Gross Margin %	-721.43%	-11431.5%	-60%	-277.78%	-1409300%	-53601.59%	-321.62%	97.6%	98.98%	100%
Gross Profit Growth %	90.72%	-4691.42%	99.96%	-733.33%	-56272%	-19.81%	99.65%	3858.82%	2.26%	135.94%
Operating Expenses+	17.95M	3.72M	4.03M	19.06M	5.11M	4.23M	42.6M	56.54M	127.38M	183.78M
OpEx % of Revenue	42750%	2927.56%	40340%	105894.44%	255500%	6707.94%	115127.03%	1233.62%	2756.46%	1702.89%
Selling, General & Admin	13.88M	3.56M	3.78M	4.3M	4.89M	5.6M	5.58M	7.49M	28.82M	38.9M
SG&A % of Revenue	33038.1%	2801.57%	37820%	23877.78%	244600%	8888.89%	15078.38%	163.5%	623.7%	360.45%
Research & Development	0	15.46M	0	15.89M	29.01M	34.53M	47.78M	48.73M	103.18M	146.53M
R&D % of Revenue	-	12172.44%	-	88300%	1450350%	54803.17%	129137.84%	1063.17%	2232.76%	1357.78%
Other Operating Expenses	-14.96M	160K	-10.59M	-15.62M	-28.8M	-35.89M	-11.96M	0	-47K	-1.66M
Operating Income+	-18.25M	-18.24M	-14.15M	-19.11M	-33.3M	-38.01M	-41.4M	-64.84M	-127.38M	-172.98M
Operating Margin %	-43464.29%	-14359.06%	-141500%	-106155.56%	-1664800%	-60330.16%	-111891.89%	-1414.71%	-2756.46%	-1602.89%
Operating Income Growth %	-261.2%	0.1%	22.41%	-35.04%	-74.25%	-14.15%	-8.92%	-56.61%	-96.46%	-35.81%
EBITDA+	-18.12M	-18.17M	-14.06M	-19.01M	-33.22M	-37.94M	-41.24M	-64.35M	-126.67M	-171.88M
EBITDA Margin %	-43140.48%	-14307.09%	-140570%	-105605.56%	-1660800%	-60225.4%	-111470.27%	-1404.12%	-2741.16%	-1592.7%
EBITDA Growth %	-269.31%	-0.28%	22.64%	-35.23%	-74.74%	-14.23%	-8.7%	-56.03%	-96.84%	-35.7%
D&A (Non-Cash Add-back)	136K	66K	93K	99K	80K	66K	156K	485K	707K	1.1M
EBIT	-18.21M	-17.94M	-14.07M	-19.33M	-33.3M	-38.06M	-38.89M	-53.8M	-133.91M	-172.98M
Net Interest Income+	-118K	259K	116K	-446K	-1.63M	-2.32M	-3.48M	-6.94M	-11.41M	-4.18M
Interest Income	50K	301K	116K	79K	14K	0	84K	0	2.77M	0
Interest Expense	168K	42K	0	469K	1.59M	2.06M	3.56M	6.94M	13.83M	4.18M
Other Income/Expense	-534K	258K	77K	-483K	-1.59M	-2.12M	-1.05M	4.1M	-20.36M	-3.26M
Pretax Income+	-18.79M	-17.98M	-14.07M	-19.57M	-34.89M	-40.13M	-42.45M	-74.32M	-152.23M	-176.24M
Pretax Margin %	-44735.71%	-14155.91%	-140730%	-108711.11%	-1744500%	-63693.65%	-114735.14%	-1621.71%	-3294.37%	-1633.08%
Income Tax+	-2.83M	-3.52M	-2.69M	-3.77M	-4.26M	-2.58M	0	-4.48M	-4.49M	0
Effective Tax Rate %	84.91%	79.59%	79.75%	80.86%	87.8%	93.58%	100%	81.72%	97.05%	100%
Net Income+	-15.95M	-14.31M	-11.22M	-15.82M	-30.63M	-37.55M	-42.45M	-60.74M	-147.74M	-176.24M
Net Margin %	-37985.71%	-11266.14%	-112230%	-87905.56%	-1531700%	-59604.76%	-114735.14%	-1325.33%	-3197.14%	-1633.08%
Net Income Growth %	-214.06%	10.32%	21.56%	-40.99%	-93.6%	-22.58%	-13.05%	-43.08%	-143.23%	-19.29%
Net Income (Continuing)	-15.95M	-14.46M	-11.38M	-15.82M	-30.63M	-37.55M	-42.45M	-60.74M	-147.74M	-176.24M
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)+	-1.64	-1.47	-1.13	-1.55	-2.51	-2.62	-2.75	-3.18	-3.43	-2.80
EPS Growth %	-124.66%	10.37%	23.13%	-37.17%	-61.94%	-4.38%	-4.96%	-15.64%	-7.86%	18.37%
EPS (Basic)	-1.65	-1.48	-1.14	-1.56	-2.51	-2.62	-2.75	-3.18	-3.43	-2.80
Diluted Shares Outstanding	9.73M	9.73M	9.93M	10.21M	12.18M	14.31M	15.46M	19.09M	43.07M	63.05M
Basic Shares Outstanding	9.65M	9.65M	9.87M	10.18M	12.18M	14.31M	15.46M	19.09M	43.07M	63.05M
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+	43.15M	27.84M	20.88M	20.98M	18.24M	37.67M	75.21M	36.18M	285.97M	170.67M
Cash & Short-Term Investments	39.13M	22.99M	17.03M	13M	9.77M	29.3M	60.7M	26.95M	260.99M	144.22M
Cash Only	25.13M	7.94M	1.88M	8M	9.77M	29.3M	60.7M	26.95M	251.94M	144.22M
Short-Term Investments	14M	15.05M	15.15M	5.01M	6K	6K	6K	0	9.05M	0
Accounts Receivable	3.91M	4.8M	3.65M	7.77M	6.98M	8.04M	8.34M	8.32M	19.1M	15.66M
Days Sales Outstanding	33.97K	13.8K	133.12K	157.62K	1000K	46.58K	82.26K	662.3	1.51K	529.74
Inventory	117K	52K	199K	0	1.15M	0	4M	0	0	0
Days Inventory Outstanding	123.78	1.3	5.01	-	14.92	-	9.36K	-	-	-
Other Current Assets	0	0	198K	1K	0	1K	0	0	-1K	0
Total Non-Current Assets+	33.11M	32.76M	32.94M	33.07M	33.48M	33.63M	35.15M	39.36M	41.09M	34.56M
Property, Plant & Equipment	167K	192K	201K	151K	134K	100K	93K	1.59M	877K	2.67M
Fixed Asset Turnover	0.25x	0.66x	0.05x	0.12x	0.01x	0.63x	0.40x	2.88x	5.27x	4.05x
Goodwill	32.01M	32.01M	32.01M	32.01M	32.01M	32.01M	32.74M	18.42M	18.42M	18.42M
Intangible Assets	2K	0	0	0	85K	98K	-647K	6.61M	6.6M	6.61M
Long-Term Investments	-13.36M	-14.74M	-14.42M	-4.09M	221K	215K	214K	0	124K	126K
Other Non-Current Assets	6K	1K	2K	5.01M	1K	1.21M	2.75M	12.74M	15.07M	6.74M
Total Assets+	76.27M	60.6M	53.81M	54.05M	51.73M	71.3M	109.23M	75.54M	327.06M	205.23M
Asset Turnover	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.06x	0.01x	0.05x
Asset Growth %	100.88%	-20.55%	-11.19%	0.43%	-4.29%	37.83%	53.2%	-30.84%	332.94%	-37.25%
Total Current Liabilities+	3.72M	3.55M	5.44M	8.49M	12.39M	19.41M	32.26M	51.46M	88.11M	92.83M
Accounts Payable	2.81M	2.57M	4.22M	6.65M	10.54M	17.41M	18.56M	15.47M	47.22M	43.82M
Days Payables Outstanding	2.97K	64.08	106.15	35.72K	136.54	188.08	43.42K	51.35K	-	-
Short-Term Debt	320K	255K	0	10.9M	20.74M	12K	10.06M	29.49M	30.88M	42.84M
Deferred Revenue (Current)	0	0	0	0	0	0	162K	133K	52K	0
Other Current Liabilities	-321K	-255K	4K	-10.9M	-20.74M	0	-385K	2.87M	3.51M	532K
Current Ratio	11.59x	7.85x	3.84x	2.47x	1.47x	1.94x	2.33x	0.70x	3.25x	1.84x
Quick Ratio	11.56x	7.83x	3.80x	2.47x	1.38x	1.94x	2.21x	0.70x	3.25x	1.84x
Cash Conversion Cycle	31.12K	13.74K	133.01K	-	1000K	-	48.2K	-	-	-
Total Non-Current Liabilities+	806K	333K	196K	10.9M	20.74M	33.99M	51.03M	16.89M	42.94M	71.81M
Long-Term Debt	30K	316K	0	10.9M	20.74M	33.98M	40.27M	8.29M	26.62M	52.16M
Capital Lease Obligations	0	0	0	0	0	0	43K	839K	160K	1.43M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	-2.23M	-2.19M	-4.07M	-5.91M	5K	9K	10.37M	7.76M	16.15M	18.22M
Total Liabilities	4.5M	3.88M	5.63M	19.39M	33.14M	53.4M	83.3M	68.36M	131.05M	164.64M
Total Debt+	350K	316K	0	10.9M	20.74M	33.99M	51.65M	39.16M	58.04M	97.36M
Net Debt	-24.72M	-7.62M	-1.88M	2.9M	10.98M	4.7M	-9.05M	12.21M	-193.9M	-46.86M
Debt / Equity	0.00x	0.01x	-	0.31x	1.12x	1.90x	1.99x	5.45x	0.30x	2.40x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-108.66x	-434.19x	-	-40.74x	-20.99x	-18.43x	-11.64x	-9.34x	-9.21x	-41.33x
Total Equity+	71.77M	56.72M	48.18M	34.66M	18.59M	17.9M	25.93M	7.19M	196.01M	40.58M
Equity Growth %	111.49%	-20.97%	-15.05%	-28.07%	-46.35%	-3.72%	44.88%	-72.28%	2626.53%	-79.29%
Book Value per Share	7.38	5.83	4.85	3.39	1.53	1.25	1.68	0.38	4.55	0.64
Total Shareholders' Equity	71.77M	56.72M	48.18M	34.66M	18.59M	17.9M	25.93M	7.19M	196.01M	40.58M
Common Stock	97K	97K	99K	102K	122K	143K	168K	223K	629K	633K
Retained Earnings	-21.05M	-35.35M	-46.58M	-62.4M	-93.03M	-37.55M	-81.81M	-143.51M	-282.95M	-438.88M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	173K	232K	253K	283K	289K	-37.26M	1K	0	112K	-75K
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+	-14.9M	-15.61M	-8.45M	-14.6M	-27.47M	-29.82M	-45.66M	-53.94M	-100.01M	-154.07M
Operating CF Margin %	-35485.71%	-12289.76%	-84490%	-81127.78%	-1373650%	-47338.1%	-123397.3%	-1176.87%	-2164.23%	-1427.65%
Operating CF Growth %	-350.95%	-4.72%	45.87%	-72.84%	-88.13%	-8.55%	-53.09%	-18.13%	-85.42%	-54.06%
Net Income	-18.25M	-18.24M	-14.15M	-19.11M	-33.3M	-38.01M	-42.56M	-60.74M	-147.74M	-176.24M
Depreciation & Amortization	136K	-35K	93K	71K	80K	66K	156K	485K	707K	1.1M
Stock-Based Compensation	0	0	0	0	0	0	828K	-1.16M	8.18M	20.22M
Deferred Taxes	0	0	0	0	0	0	-828K	0	7.93M	0
Other Non-Cash Items	-140K	124K	106K	-277K	-1.26M	-1.55M	-1.84M	9.48M	9.65M	-577K
Working Capital Changes	3.35M	2.54M	5.5M	4.71M	7.01M	9.67M	-668K	-2M	21.27M	1.42M
Change in Receivables	1.52M	-595K	724K	12K	3.14M	-3K	-1.98M	312K	-14.23M	4.59M
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	1.76M	0	1.65M	2.44M	0	0	1.14M	-2.39M	31.76M	-3.44M
Cash from Investing+	-1.02M	-94K	-105K	-254K	-370K	-575K	-1.46M	-12.03M	-10.49M	15.76M
Capital Expenditures	-1.02M	-721K	-979K	-763K	-941K	-898K	-1.64M	-288K	-266K	-640K
CapEx % of Revenue	2440.48%	567.72%	9790%	4238.89%	47050%	1425.4%	4437.84%	6.28%	5.76%	5.93%
Acquisitions	0	0	0	0	646K	616K	312K	-2.91M	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	203K	627K	1.01M	497K	-75K	617K	312K	-8.57M	-1.62M	16.4M
Cash from Financing+	52.13M	-438K	2.6M	10.83M	24.61M	49.93M	78.51M	32.21M	340.57M	28.21M
Debt Issued (Net)	2M	29K	2.06M	10.18M	10.95M	23.53M	19.13M	-9.71M	15.24M	37.49M
Equity Issued (Net)	1000K	58K	628K	652K	1000K	1000K	1000K	1000K	1000K	434K
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	0	0	0	0	0	0	0	0
Other Financing	-5.71M	-525K	-85K	0	0	0	-10.3M	-4.45M	-28.06M	-9.71M
Net Change in Cash	36.21M	-16.14M	-5.96M	-4.03M	-3.23M	19.53M	31.4M	-33.75M	224.99M	-107.72M
Free Cash Flow+	-15.93M	-16.33M	-9.43M	-15.37M	-28.41M	-30.72M	-47.3M	-54.26M	-100.28M	-154.72M
FCF Margin %	-37926.19%	-12857.48%	-94280%	-85366.67%	-1420700%	-48763.49%	-127835.14%	-1183.92%	-2169.98%	-1433.61%
FCF Growth %	-375.75%	-2.51%	42.26%	-62.98%	-84.91%	-8.12%	-53.96%	-14.71%	-84.81%	-54.29%
FCF per Share	-1.64	-1.68	-0.95	-1.51	-2.33	-2.15	-3.06	-2.84	-2.33	-2.45
FCF Conversion (FCF/Net Income)	0.93x	1.09x	0.75x	0.92x	0.90x	0.79x	1.08x	0.89x	0.68x	0.87x
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)	-30.19%	-22.27%	-21.4%	-38.2%	-115.06%	-205.8%	-193.7%	-366.77%	-145.41%	-148.98%
Return on Invested Capital (ROIC)	-33.48%	-28.47%	-22.25%	-34.18%	-74.4%	-109.29%	-157.26%	-267.98%	-888.17%	-
Gross Margin	-721.43%	-11431.5%	-60%	-277.78%	-1409300%	-53601.59%	-321.62%	97.6%	98.98%	100%
Net Margin	-37985.71%	-11266.14%	-112230%	-87905.56%	-1531700%	-59604.76%	-114735.14%	-1325.33%	-3197.14%	-1633.08%
Debt / Equity	0.00x	0.01x	-	0.31x	1.12x	1.90x	1.99x	5.45x	0.30x	2.40x
Interest Coverage	-108.66x	-434.19x	-	-40.74x	-20.99x	-18.43x	-11.64x	-9.34x	-9.21x	-41.33x
FCF Conversion	0.93x	1.09x	0.75x	0.92x	0.90x	0.79x	1.08x	0.89x	0.68x	0.87x
Revenue Growth	200%	202.38%	-92.13%	80%	-88.89%	3050%	-41.27%	12286.49%	0.83%	133.54%

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Abivax S.A. (ABVX) 10-Year Financial Performance & Capital Metrics

ABVX •

HealthcareBiotechnologyImmunology and Inflammation Therapies

Revenue $11M +133.5%
EBITDA -$172M -35.7%
Net Income -$176M -19.3%
EPS (Diluted) -2.80 +18.4%
Gross Margin 100% +1.0%
EBITDA Margin -1592.7% +41.9%
Operating Margin -1602.89% +41.8%
Net Margin -1633.08% +48.9%
ROE -148.98% -2.5%
ROIC -
Debt/Equity 2.40 +710.1%
Interest Coverage -41.33 -348.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 98 (top 2%)
✓Strong 5Y sales CAGR of 457.7%

✗Weaknesses

✗High debt to equity ratio of 2.4x
✗Negative free cash flow
✗Shares diluted 46.4% in last year
✗Expensive at 159.7x book value
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y94.4%

5Y457.72%

3Y563.18%

TTM125.09%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-126.42%

EPS CAGR

10Y-

5Y-

3Y-

TTM12%

ROCE

10Y Avg-67.9%

5Y Avg-94.25%

3Y Avg-107.88%

Latest-98.47%

Peer Comparison

Immunology and Inflammation Therapies

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TGTXTG Therapeutics, Inc.	4.75B	30.09	200.60	40.8%	13.31%	21.87%		1.14
APLSApellis Pharmaceuticals, Inc.	2.65B	20.96	116.44	-11.77%	3.25%	7.48%	1.71%	0.30
ARGXargenx SE	47.46B	766.92	60.01	78.6%	23.34%	15.14%		0.01
KNSAKiniksa Pharmaceuticals, Ltd.	3.39B	44.49	59.32	60.09%	17.52%	20.92%	0.75%	0.02
AUPHAurinia Pharmaceuticals Inc.	1.88B	14.17	6.85	20.38%	101.47%	49.4%	7.22%	0.13
GLPGGalapagos N.V.	2.22B	33.66	5.88	303.48%	28.85%	9.92%		0.00
AKTXAkari Therapeutics, Plc	12.56B	0.24	-0.00			-69.35%		0.15
RAPTRAPT Therapeutics, Inc.	7.65B	57.98	-2.27			-69.51%		0.02

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	42K	127K	10K	18K	2K	63K	37K	4.58M	4.62M	10.79M
Revenue Growth %	200%	202.38%	-92.13%	80%	-88.89%	3050%	-41.27%	12286.49%	0.83%	133.54%
Cost of Goods Sold+	345K	14.64M	14.51M	68K	28.19M	33.78M	156K	110K	0	0
COGS % of Revenue	821.43%	11531.5%	145070%	377.78%	1409400%	53623.81%	421.62%	2.4%	-	-
Gross Profit+	-303K	-14.52M	-6K	-50K	-28.19M	-33.77M	-119K	4.47M	4.57M	10.79M
Gross Margin %	-721.43%	-11431.5%	-60%	-277.78%	-1409300%	-53601.59%	-321.62%	97.6%	98.98%	100%
Gross Profit Growth %	90.72%	-4691.42%	99.96%	-733.33%	-56272%	-19.81%	99.65%	3858.82%	2.26%	135.94%
Operating Expenses+	17.95M	3.72M	4.03M	19.06M	5.11M	4.23M	42.6M	56.54M	127.38M	183.78M
OpEx % of Revenue	42750%	2927.56%	40340%	105894.44%	255500%	6707.94%	115127.03%	1233.62%	2756.46%	1702.89%
Selling, General & Admin	13.88M	3.56M	3.78M	4.3M	4.89M	5.6M	5.58M	7.49M	28.82M	38.9M
SG&A % of Revenue	33038.1%	2801.57%	37820%	23877.78%	244600%	8888.89%	15078.38%	163.5%	623.7%	360.45%
Research & Development	0	15.46M	0	15.89M	29.01M	34.53M	47.78M	48.73M	103.18M	146.53M
R&D % of Revenue	-	12172.44%	-	88300%	1450350%	54803.17%	129137.84%	1063.17%	2232.76%	1357.78%
Other Operating Expenses	-14.96M	160K	-10.59M	-15.62M	-28.8M	-35.89M	-11.96M	0	-47K	-1.66M
Operating Income+	-18.25M	-18.24M	-14.15M	-19.11M	-33.3M	-38.01M	-41.4M	-64.84M	-127.38M	-172.98M
Operating Margin %	-43464.29%	-14359.06%	-141500%	-106155.56%	-1664800%	-60330.16%	-111891.89%	-1414.71%	-2756.46%	-1602.89%
Operating Income Growth %	-261.2%	0.1%	22.41%	-35.04%	-74.25%	-14.15%	-8.92%	-56.61%	-96.46%	-35.81%
EBITDA+	-18.12M	-18.17M	-14.06M	-19.01M	-33.22M	-37.94M	-41.24M	-64.35M	-126.67M	-171.88M
EBITDA Margin %	-43140.48%	-14307.09%	-140570%	-105605.56%	-1660800%	-60225.4%	-111470.27%	-1404.12%	-2741.16%	-1592.7%
EBITDA Growth %	-269.31%	-0.28%	22.64%	-35.23%	-74.74%	-14.23%	-8.7%	-56.03%	-96.84%	-35.7%
D&A (Non-Cash Add-back)	136K	66K	93K	99K	80K	66K	156K	485K	707K	1.1M
EBIT	-18.21M	-17.94M	-14.07M	-19.33M	-33.3M	-38.06M	-38.89M	-53.8M	-133.91M	-172.98M
Net Interest Income+	-118K	259K	116K	-446K	-1.63M	-2.32M	-3.48M	-6.94M	-11.41M	-4.18M
Interest Income	50K	301K	116K	79K	14K	0	84K	0	2.77M	0
Interest Expense	168K	42K	0	469K	1.59M	2.06M	3.56M	6.94M	13.83M	4.18M
Other Income/Expense	-534K	258K	77K	-483K	-1.59M	-2.12M	-1.05M	4.1M	-20.36M	-3.26M
Pretax Income+	-18.79M	-17.98M	-14.07M	-19.57M	-34.89M	-40.13M	-42.45M	-74.32M	-152.23M	-176.24M
Pretax Margin %	-44735.71%	-14155.91%	-140730%	-108711.11%	-1744500%	-63693.65%	-114735.14%	-1621.71%	-3294.37%	-1633.08%
Income Tax+	-2.83M	-3.52M	-2.69M	-3.77M	-4.26M	-2.58M	0	-4.48M	-4.49M	0
Effective Tax Rate %	84.91%	79.59%	79.75%	80.86%	87.8%	93.58%	100%	81.72%	97.05%	100%
Net Income+	-15.95M	-14.31M	-11.22M	-15.82M	-30.63M	-37.55M	-42.45M	-60.74M	-147.74M	-176.24M
Net Margin %	-37985.71%	-11266.14%	-112230%	-87905.56%	-1531700%	-59604.76%	-114735.14%	-1325.33%	-3197.14%	-1633.08%
Net Income Growth %	-214.06%	10.32%	21.56%	-40.99%	-93.6%	-22.58%	-13.05%	-43.08%	-143.23%	-19.29%
Net Income (Continuing)	-15.95M	-14.46M	-11.38M	-15.82M	-30.63M	-37.55M	-42.45M	-60.74M	-147.74M	-176.24M
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)+	-1.64	-1.47	-1.13	-1.55	-2.51	-2.62	-2.75	-3.18	-3.43	-2.80
EPS Growth %	-124.66%	10.37%	23.13%	-37.17%	-61.94%	-4.38%	-4.96%	-15.64%	-7.86%	18.37%
EPS (Basic)	-1.65	-1.48	-1.14	-1.56	-2.51	-2.62	-2.75	-3.18	-3.43	-2.80
Diluted Shares Outstanding	9.73M	9.73M	9.93M	10.21M	12.18M	14.31M	15.46M	19.09M	43.07M	63.05M
Basic Shares Outstanding	9.65M	9.65M	9.87M	10.18M	12.18M	14.31M	15.46M	19.09M	43.07M	63.05M
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+	43.15M	27.84M	20.88M	20.98M	18.24M	37.67M	75.21M	36.18M	285.97M	170.67M
Cash & Short-Term Investments	39.13M	22.99M	17.03M	13M	9.77M	29.3M	60.7M	26.95M	260.99M	144.22M
Cash Only	25.13M	7.94M	1.88M	8M	9.77M	29.3M	60.7M	26.95M	251.94M	144.22M
Short-Term Investments	14M	15.05M	15.15M	5.01M	6K	6K	6K	0	9.05M	0
Accounts Receivable	3.91M	4.8M	3.65M	7.77M	6.98M	8.04M	8.34M	8.32M	19.1M	15.66M
Days Sales Outstanding	33.97K	13.8K	133.12K	157.62K	1000K	46.58K	82.26K	662.3	1.51K	529.74
Inventory	117K	52K	199K	0	1.15M	0	4M	0	0	0
Days Inventory Outstanding	123.78	1.3	5.01	-	14.92	-	9.36K	-	-	-
Other Current Assets	0	0	198K	1K	0	1K	0	0	-1K	0
Total Non-Current Assets+	33.11M	32.76M	32.94M	33.07M	33.48M	33.63M	35.15M	39.36M	41.09M	34.56M
Property, Plant & Equipment	167K	192K	201K	151K	134K	100K	93K	1.59M	877K	2.67M
Fixed Asset Turnover	0.25x	0.66x	0.05x	0.12x	0.01x	0.63x	0.40x	2.88x	5.27x	4.05x
Goodwill	32.01M	32.01M	32.01M	32.01M	32.01M	32.01M	32.74M	18.42M	18.42M	18.42M
Intangible Assets	2K	0	0	0	85K	98K	-647K	6.61M	6.6M	6.61M
Long-Term Investments	-13.36M	-14.74M	-14.42M	-4.09M	221K	215K	214K	0	124K	126K
Other Non-Current Assets	6K	1K	2K	5.01M	1K	1.21M	2.75M	12.74M	15.07M	6.74M
Total Assets+	76.27M	60.6M	53.81M	54.05M	51.73M	71.3M	109.23M	75.54M	327.06M	205.23M
Asset Turnover	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.06x	0.01x	0.05x
Asset Growth %	100.88%	-20.55%	-11.19%	0.43%	-4.29%	37.83%	53.2%	-30.84%	332.94%	-37.25%
Total Current Liabilities+	3.72M	3.55M	5.44M	8.49M	12.39M	19.41M	32.26M	51.46M	88.11M	92.83M
Accounts Payable	2.81M	2.57M	4.22M	6.65M	10.54M	17.41M	18.56M	15.47M	47.22M	43.82M
Days Payables Outstanding	2.97K	64.08	106.15	35.72K	136.54	188.08	43.42K	51.35K	-	-
Short-Term Debt	320K	255K	0	10.9M	20.74M	12K	10.06M	29.49M	30.88M	42.84M
Deferred Revenue (Current)	0	0	0	0	0	0	162K	133K	52K	0
Other Current Liabilities	-321K	-255K	4K	-10.9M	-20.74M	0	-385K	2.87M	3.51M	532K
Current Ratio	11.59x	7.85x	3.84x	2.47x	1.47x	1.94x	2.33x	0.70x	3.25x	1.84x
Quick Ratio	11.56x	7.83x	3.80x	2.47x	1.38x	1.94x	2.21x	0.70x	3.25x	1.84x
Cash Conversion Cycle	31.12K	13.74K	133.01K	-	1000K	-	48.2K	-	-	-
Total Non-Current Liabilities+	806K	333K	196K	10.9M	20.74M	33.99M	51.03M	16.89M	42.94M	71.81M
Long-Term Debt	30K	316K	0	10.9M	20.74M	33.98M	40.27M	8.29M	26.62M	52.16M
Capital Lease Obligations	0	0	0	0	0	0	43K	839K	160K	1.43M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	-2.23M	-2.19M	-4.07M	-5.91M	5K	9K	10.37M	7.76M	16.15M	18.22M
Total Liabilities	4.5M	3.88M	5.63M	19.39M	33.14M	53.4M	83.3M	68.36M	131.05M	164.64M
Total Debt+	350K	316K	0	10.9M	20.74M	33.99M	51.65M	39.16M	58.04M	97.36M
Net Debt	-24.72M	-7.62M	-1.88M	2.9M	10.98M	4.7M	-9.05M	12.21M	-193.9M	-46.86M
Debt / Equity	0.00x	0.01x	-	0.31x	1.12x	1.90x	1.99x	5.45x	0.30x	2.40x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-108.66x	-434.19x	-	-40.74x	-20.99x	-18.43x	-11.64x	-9.34x	-9.21x	-41.33x
Total Equity+	71.77M	56.72M	48.18M	34.66M	18.59M	17.9M	25.93M	7.19M	196.01M	40.58M
Equity Growth %	111.49%	-20.97%	-15.05%	-28.07%	-46.35%	-3.72%	44.88%	-72.28%	2626.53%	-79.29%
Book Value per Share	7.38	5.83	4.85	3.39	1.53	1.25	1.68	0.38	4.55	0.64
Total Shareholders' Equity	71.77M	56.72M	48.18M	34.66M	18.59M	17.9M	25.93M	7.19M	196.01M	40.58M
Common Stock	97K	97K	99K	102K	122K	143K	168K	223K	629K	633K
Retained Earnings	-21.05M	-35.35M	-46.58M	-62.4M	-93.03M	-37.55M	-81.81M	-143.51M	-282.95M	-438.88M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	173K	232K	253K	283K	289K	-37.26M	1K	0	112K	-75K
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+	-14.9M	-15.61M	-8.45M	-14.6M	-27.47M	-29.82M	-45.66M	-53.94M	-100.01M	-154.07M
Operating CF Margin %	-35485.71%	-12289.76%	-84490%	-81127.78%	-1373650%	-47338.1%	-123397.3%	-1176.87%	-2164.23%	-1427.65%
Operating CF Growth %	-350.95%	-4.72%	45.87%	-72.84%	-88.13%	-8.55%	-53.09%	-18.13%	-85.42%	-54.06%
Net Income	-18.25M	-18.24M	-14.15M	-19.11M	-33.3M	-38.01M	-42.56M	-60.74M	-147.74M	-176.24M
Depreciation & Amortization	136K	-35K	93K	71K	80K	66K	156K	485K	707K	1.1M
Stock-Based Compensation	0	0	0	0	0	0	828K	-1.16M	8.18M	20.22M
Deferred Taxes	0	0	0	0	0	0	-828K	0	7.93M	0
Other Non-Cash Items	-140K	124K	106K	-277K	-1.26M	-1.55M	-1.84M	9.48M	9.65M	-577K
Working Capital Changes	3.35M	2.54M	5.5M	4.71M	7.01M	9.67M	-668K	-2M	21.27M	1.42M
Change in Receivables	1.52M	-595K	724K	12K	3.14M	-3K	-1.98M	312K	-14.23M	4.59M
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	1.76M	0	1.65M	2.44M	0	0	1.14M	-2.39M	31.76M	-3.44M
Cash from Investing+	-1.02M	-94K	-105K	-254K	-370K	-575K	-1.46M	-12.03M	-10.49M	15.76M
Capital Expenditures	-1.02M	-721K	-979K	-763K	-941K	-898K	-1.64M	-288K	-266K	-640K
CapEx % of Revenue	2440.48%	567.72%	9790%	4238.89%	47050%	1425.4%	4437.84%	6.28%	5.76%	5.93%
Acquisitions	0	0	0	0	646K	616K	312K	-2.91M	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	203K	627K	1.01M	497K	-75K	617K	312K	-8.57M	-1.62M	16.4M
Cash from Financing+	52.13M	-438K	2.6M	10.83M	24.61M	49.93M	78.51M	32.21M	340.57M	28.21M
Debt Issued (Net)	2M	29K	2.06M	10.18M	10.95M	23.53M	19.13M	-9.71M	15.24M	37.49M
Equity Issued (Net)	1000K	58K	628K	652K	1000K	1000K	1000K	1000K	1000K	434K
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	0	0	0	0	0	0	0	0
Other Financing	-5.71M	-525K	-85K	0	0	0	-10.3M	-4.45M	-28.06M	-9.71M
Net Change in Cash	36.21M	-16.14M	-5.96M	-4.03M	-3.23M	19.53M	31.4M	-33.75M	224.99M	-107.72M
Free Cash Flow+	-15.93M	-16.33M	-9.43M	-15.37M	-28.41M	-30.72M	-47.3M	-54.26M	-100.28M	-154.72M
FCF Margin %	-37926.19%	-12857.48%	-94280%	-85366.67%	-1420700%	-48763.49%	-127835.14%	-1183.92%	-2169.98%	-1433.61%
FCF Growth %	-375.75%	-2.51%	42.26%	-62.98%	-84.91%	-8.12%	-53.96%	-14.71%	-84.81%	-54.29%
FCF per Share	-1.64	-1.68	-0.95	-1.51	-2.33	-2.15	-3.06	-2.84	-2.33	-2.45
FCF Conversion (FCF/Net Income)	0.93x	1.09x	0.75x	0.92x	0.90x	0.79x	1.08x	0.89x	0.68x	0.87x
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)	-30.19%	-22.27%	-21.4%	-38.2%	-115.06%	-205.8%	-193.7%	-366.77%	-145.41%	-148.98%
Return on Invested Capital (ROIC)	-33.48%	-28.47%	-22.25%	-34.18%	-74.4%	-109.29%	-157.26%	-267.98%	-888.17%	-
Gross Margin	-721.43%	-11431.5%	-60%	-277.78%	-1409300%	-53601.59%	-321.62%	97.6%	98.98%	100%
Net Margin	-37985.71%	-11266.14%	-112230%	-87905.56%	-1531700%	-59604.76%	-114735.14%	-1325.33%	-3197.14%	-1633.08%
Debt / Equity	0.00x	0.01x	-	0.31x	1.12x	1.90x	1.99x	5.45x	0.30x	2.40x
Interest Coverage	-108.66x	-434.19x	-	-40.74x	-20.99x	-18.43x	-11.64x	-9.34x	-9.21x	-41.33x
FCF Conversion	0.93x	1.09x	0.75x	0.92x	0.90x	0.79x	1.08x	0.89x	0.68x	0.87x
Revenue Growth	200%	202.38%	-92.13%	80%	-88.89%	3050%	-41.27%	12286.49%	0.83%	133.54%

Abivax S.A. (ABVX) 10-Year Financial Performance & Capital Metrics

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Abivax S.A. (ABVX) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare ABVX vs Peers

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