Revenue remains highly volatile and project-dependent, with the most recent quarter reporting $2.8M in top-line figures compared to just $169K in 2025Q4.
| Sales/Revenue | 4.71M | 2.19M | 3.94M | 15.53M | 13.91M | 4.36M | 0 | 0 | 0 |
| Revenue Growth % | 43.88% | -44.59% | -74.6% | 11.66% | 219.04% | - | - | - | - |
| Cost of Goods Sold | 516K | 930K | 0 | 0 | 0 | 0 | 3.33M | 2.3M | 1.29M |
| COGS % of Revenue | - | 42.54% | - | - | - | - | - | - | - |
| Gross Profit | 4.19M | 1.26M | 3.94M | 15.53M | 13.91M | 4.36M | -3.33M | -2.3M | -1.29M |
| Gross Margin % | 89.03% | 57.46% | 100% | 100% | 100% | 100% | - | - | - |
| Gross Profit Growth % | - | -68.16% | -74.6% | 11.66% | 219.04% | 231.1% | -44.63% | -78.08% | - |
| Operating Expenses | 99.86M | 89.24M | 93.1M | 103.66M | 111.49M | 132.68M | 94.51M | 54.04M | 13.66M |
| OpEx % of Revenue | - | 4082.39% | 2359.92% | 667.5% | 801.66% | 3043.82% | - | - | - |
| Selling, General & Admin | 21.82M | 20.72M | 22.83M | 30.62M | 26.41M | 28.53M | 14.62M | 10.01M | 3.21M |
| SG&A % of Revenue | - | 947.76% | 578.71% | 197.15% | 189.9% | 654.44% | - | - | - |
| Research & Development | 78.3M | 69.45M | 70.27M | 73.04M | 85.08M | 104.15M | 79.89M | 44.04M | 10.46M |
| R&D % of Revenue | - | 3177.17% | 1781.22% | 470.35% | 611.76% | 2389.38% | - | - | - |
| Other Operating Expenses | -259K | -930K | 0 | 0 | 0 | 0 | 0 | 302K | -435K |
| Operating Income | -95.67M | -87.98M | -89.15M | -88.13M | -97.58M | -128.32M | -97.83M | -54.04M | -13.66M |
| Operating Margin % | -2033.39% | -4024.93% | -2259.92% | -567.5% | -701.66% | -2943.82% | - | - | - |
| Operating Income Growth % | - | 1.31% | -1.17% | 9.69% | 23.96% | -31.16% | -81.03% | -295.6% | - |
| EBITDA | -94.11M | -87.06M | -86.53M | -85.06M | -93.91M | -124.54M | -94.51M | -51.74M | -12.37M |
| EBITDA Margin % | -2000.23% | -3982.39% | -2193.46% | -547.74% | -675.24% | -2857.15% | - | - | - |
| EBITDA Growth % | -12.18% | -0.6% | -1.73% | 9.42% | 24.6% | -31.78% | -82.65% | -318.3% | - |
| D&A (Non-Cash Add-back) | 1.56M | 930K | 2.62M | 3.07M | 3.67M | 3.78M | 3.33M | 2.3M | 1.29M |
| EBIT | -95.9M | -87.98M | -89.15M | -88.13M | -97.58M | -128.32M | -108.38M | -52.18M | -13.66M |
| Net Interest Income | 2.13M | 2.16M | 1.67M | 1.24M | 1.64M | 132K | -9.29M | 1.86M | 0 |
| Interest Income | 2.13M | 2.16M | 1.67M | 1.24M | 1.64M | 132K | 1.26M | 1.86M | 163K |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 10.55M | 0 | 0 |
| Other Income/Expense | 5.94M | 64.11M | -41.73M | 1.24M | 1.64M | 132K | -10.55M | 1.86M | -272K |
| Pretax Income | -89.73M | -23.88M | -130.88M | -86.88M | -95.94M | -128.19M | -108.38M | -52.18M | -13.93M |
| Pretax Margin % | -1907.18% | -1092.36% | -3317.62% | -559.5% | -689.87% | -2940.79% | - | - | - |
| Income Tax | 588K | 314K | 331K | 795K | 106K | 143K | 161K | 85K | 0 |
| Effective Tax Rate % | -0.66% | -1.31% | -0.25% | -0.92% | -0.11% | -0.11% | -0.15% | -0.16% | 0% |
| Net Income | -90.32M | -24.19M | -131.21M | -87.68M | -96.05M | -128.33M | -108.54M | -52.26M | -13.93M |
| Net Margin % | -1919.68% | -1106.72% | -3326.01% | -564.61% | -690.63% | -2944.07% | - | - | - |
| Net Income Growth % | -69.59% | 81.56% | -49.65% | 8.71% | 25.16% | -18.23% | -107.68% | -275.11% | - |
| Net Income (Continuing) | -90.32M | -24.19M | -131.21M | -87.68M | -96.05M | -128.33M | -108.54M | -52.26M | -13.93M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -8.68 | -2.45 | -20.94 | -3.52 | -2.25 | -3.22 | -3.18 | -2.38 | -0.66 |
| EPS Growth % | 50.2% | 88.3% | -494.89% | -56.44% | 30.12% | -1.26% | -33.61% | -260.61% | - |
| EPS (Basic) | - | -2.45 | -20.94 | -3.52 | -2.25 | -3.22 | -3.18 | -2.38 | -0.66 |
| Diluted Shares Outstanding | 10.4M | 9.88M | 6.26M | 24.87M | 42.7M | 39.86M | 34.18M | 21.93M | 21.17M |
| Basic Shares Outstanding | 10.4M | 9.88M | 6.26M | 24.87M | 42.7M | 39.86M | 34.18M | 21.93M | 21.17M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
Imminent capital dilution risk
As indicated by the company's historical financial statements, revenue remains highly volatile and project-dependent, with the most recent quarter reporting $2.8M in top-line figures, a sharp contrast to the $169K observed in 2025Q4, reflecting the non-recurring nature of milestone-based income rather than sustainable commercial growth.
The absence of recurring product sales renders the revenue trajectory largely meaningless for assessing long-term operational health. Investors should interpret these fluctuations as evidence of partnership-driven activity rather than a scalable business model, as the top line remains entirely tethered to the timing of clinical milestones.
Based on reported quarterly filings, R&D expenses have consistently dwarfed revenue, peaking at $23.4M in 2026Q1, which underscores the heavy capital burden required to sustain the company's multi-modal pipeline in the absence of any meaningful commercial product revenue to offset these significant operational expenditures.
The cost structure is dominated by clinical trial requirements, leaving little room for expense discipline without compromising the viability of the pipeline. This high fixed-cost base suggests that the company is effectively a research engine that must continuously secure external funding to maintain its current clinical trajectory.
According to the income statement data, the company's operating margin of -9.5% in 2026Q1, while improved from the -129.1% seen in 2025Q4, highlights a persistent inability to achieve operating leverage, as R&D and SG&A costs continue to fundamentally outstrip the company's capacity to generate revenue.
The lack of operating leverage is a structural reality for a clinical-stage entity, where expenses are driven by trial enrollment rather than sales volume. Any improvement in operating margins appears to be a function of revenue lumpiness rather than a fundamental shift toward operational efficiency or cost-scaling.
As evidenced by the persistent net losses and the $18.3M cash position noted in recent intelligence, the company faces a critical liquidity challenge that may force dilutive financing, as the current burn rate appears unsustainable without a significant, non-dilutive capital injection or a major new partnership agreement.
Short-sellers would likely focus on the widening gap between cash reserves and the high quarterly burn rate, which suggests that the company's runway is rapidly diminishing. This creates a precarious situation where the need for capital may override the strategic value of the pipeline assets during future negotiations.
Quick answers to the most common questions about buying ALGS stock.
For fiscal year 2025, Aligos Therapeutics, Inc. (ALGS) reported total revenue of $2.2M.
Aligos Therapeutics, Inc. (ALGS) reported a net loss of $24.2M for the fiscal year ending 2025.
Aligos Therapeutics, Inc. (ALGS) reported an operating income of $-88.0M, resulting in an operating profit margin of -4024.9%. This margin reflects the operational efficiency of the business before interest and taxes.
Aligos Therapeutics, Inc. (ALGS) generated $1.3M in gross profit for the year, representing a gross profit margin of 57.5%. This demonstrates the company's core pricing power and production efficiency.