The company exhibits negligible top-line growth, with trailing twelve-month revenue of only $59,000 and quarterly operating losses consistently exceeding $19 million.
| 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 |
|---|
| Sales/Revenue | 59K | 59K | 441K | 1.92M | 18.05M | 5.4M | 6.7M | 6.75M | 18.33M | 27.81M | 1.15M | 0 | 0 | 0 | 82.76K |
| Revenue Growth % | -86.62% | -86.62% | -77.08% | -89.34% | 234.4% | -19.42% | -0.76% | -63.17% | -34.11% | 2312.24% | - | - | - | -100% | - |
| Cost of Goods Sold | 17K | 0 | -366K | 1.28M | 3.43M | 1.49M | 300K | -566.52K | 7.48M | 635.65K | 8.24M | 23.51K | 9.5M | 0 | 8.48M |
| COGS % of Revenue | - | - | -82.99% | 66.74% | 19.02% | 27.62% | 4.48% | -8.39% | 40.81% | 2.29% | 714.57% | - | - | - | 10242.39% |
| Gross Profit | 42K | 59K | 807K | 640K | 14.62M | 3.91M | 6.4M | 7.32M | 10.85M | 27.18M | -7.09M | -23.51K | -9.5M | 0 | -8.39M |
| Gross Margin % | 71.19% | 100% | 182.99% | 33.26% | 80.98% | 72.38% | 95.52% | 108.39% | 59.19% | 97.71% | -614.57% | - | - | - | -10142.39% |
| Gross Profit Growth % | - | -92.69% | 26.09% | -95.62% | 274.12% | -38.94% | -12.54% | -32.55% | -60.08% | 483.54% | -30042.93% | 99.75% | - | 100% | - |
| Operating Expenses | 79.2M | 72.98M | 69.32M | 27.99M | 52.06M | 86.04M | 6.4M | 23.45M | 29.52M | 13.29M | 17.23M | 11.01M | 17.12M | 12.93M | 2.1M |
| OpEx % of Revenue | - | 123701.69% | 15718.59% | 1454.83% | 288.39% | 1593.94% | 95.52% | 347.45% | 161.07% | 47.77% | 1494.62% | - | - | - | 2533.96% |
| Selling, General & Admin | 24.19M | 22.9M | 17.24M | 10.3M | 20.71M | 24.66M | 19.76M | 11.61M | 19.2M | 8.91M | 7.08M | 4.42M | 4.88M | 4.02M | 2.1M |
| SG&A % of Revenue | - | 38813.56% | 3909.52% | 535.34% | 114.74% | 456.8% | 294.95% | 171.95% | 104.76% | 32.05% | 614.31% | - | - | - | 2533.96% |
| Research & Development | 55.01M | 50.08M | 52.08M | 13.78M | 31.31M | 59.84M | 32.19M | 11.76M | 5.79M | 4.37M | 10.15M | 6.59M | 12.24M | 8.91M | 8.48M |
| R&D % of Revenue | - | 84888.14% | 11809.07% | 716.42% | 173.44% | 1108.47% | 480.56% | 174.27% | 31.57% | 15.72% | 880.31% | - | - | - | 10242.39% |
| Other Operating Expenses | 0 | 0 | 0 | 3.91M | 38K | 1.55M | -45.55M | 83.11K | 13.66K | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -79.16M | -72.92M | -68.51M | -27.35M | -37.44M | -82.13M | 0 | -16.14M | -39.31M | 13.89M | -16.08M | -11.01M | -17.12M | -12.93M | -10.49M |
| Operating Margin % | -134164.41% | -123601.69% | -15535.6% | -1421.57% | -207.41% | -1521.56% | - | -239.06% | -214.52% | 49.94% | -1394.62% | - | - | - | -12676.35% |
| Operating Income Growth % | - | -6.44% | -150.49% | 26.95% | 54.42% | - | 100% | 58.95% | -383.04% | 186.38% | -46.05% | 35.67% | -32.33% | -23.29% | - |
| EBITDA | -78.93M | -72.58M | -68.34M | -27.19M | -37.27M | -80.48M | -45.45M | -12.25M | -37.46M | 14.32M | -16.05M | -10.99M | -17.09M | -12.91M | -10.48M |
| EBITDA Margin % | -133781.36% | -123018.64% | -15497.28% | -1413.36% | -206.49% | -1490.87% | -678.47% | -181.53% | -204.41% | 51.47% | -1392.29% | - | - | - | -12658.22% |
| EBITDA Growth % | -57.4% | -6.2% | -151.33% | 27.05% | 53.68% | -77.06% | -270.91% | 67.29% | -361.69% | 189.18% | -46.12% | 35.7% | -32.31% | -23.28% | - |
| D&A (Non-Cash Add-back) | 226K | 344K | 169K | 158K | 166K | 1.66M | 1.84M | 3.88M | 1.85M | 425.48K | 26.86K | 23.51K | 28.94K | 20.03K | 15K |
| EBIT | -90.57M | -72.92M | -68.51M | -23.44M | -37.44M | -82.13M | -47.29M | -17.39M | -14.9M | 13.89M | -16.08M | -10.48M | -17.12M | -12.93M | -10.49M |
| Net Interest Income | 3.02M | 0 | 3.32M | -3.42M | -4.17M | -2.39M | 49K | 121.33K | 16.26K | -24.02K | -464.18K | -793.21K | -1.21M | 0 | 0 |
| Interest Income | 3.02M | 0 | 3.32M | 0 | 0 | 0 | 49K | 121.33K | 16.26K | 0 | 0 | 0 | 0 | 0 | 1.35K |
| Interest Expense | 0 | 0 | 0 | 3.42M | 4.17M | 2.39M | 0 | 0 | 0 | 24.02K | 464.18K | 793.21K | 1.21M | 10.55K | 0 |
| Other Income/Expense | -5.41M | -5.17M | 33.5M | -4.18M | -4.19M | -2.41M | -67.18M | 147.29K | 54.93K | -53.64K | -391.56K | 519.84K | 1.06M | -110.56K | 1.35K |
| Pretax Income | -84.57M | -78.09M | -35.02M | -31.53M | -41.63M | -84.55M | -67.18M | -15.99M | -40.09M | 13.84M | -16.47M | -10.49M | -16.06M | -13.05M | -10.49M |
| Pretax Margin % | -143340.68% | -132362.71% | -7939.91% | -1638.77% | -230.62% | -1566.23% | -1002.79% | -236.88% | -218.73% | 49.75% | -1428.53% | - | - | - | -12674.72% |
| Income Tax | 169K | 165K | 114K | 14K | 28K | -196K | -2.79M | 280.32K | -33.91K | 1.97M | 364.14K | -543.51K | 0 | 110.56K | 0 |
| Effective Tax Rate % | -0.2% | -0.21% | -0.33% | -0.04% | -0.07% | 0.23% | 4.16% | -1.75% | 0.08% | 14.21% | -2.21% | 5.18% | 0% | -0.85% | 0% |
| Net Income | -84.74M | -78.26M | -35.13M | -31.54M | -41.66M | -84.38M | -63.5M | -16.07M | -40.05M | 11.87M | -16.47M | -10.49M | -16.06M | -13.05M | -10.49M |
| Net Margin % | -143627.12% | -132642.37% | -7965.76% | -1639.5% | -230.78% | -1563.1% | -947.9% | -238.1% | -218.55% | 42.68% | -1428.53% | - | - | - | -12674.72% |
| Net Income Growth % | -216.06% | -122.78% | -11.37% | 24.28% | 50.63% | -32.88% | -295.08% | 59.87% | -437.43% | 172.06% | -57.02% | 34.66% | -23.08% | -24.36% | - |
| Net Income (Continuing) | -84.74M | -78.26M | -35.13M | -31.54M | -41.66M | -84.35M | -64.38M | -16.27M | -35.27M | 11.87M | -16.47M | -10.49M | -16.06M | -13.05M | -10.49M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | -27K | 884K | 198.21K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -4.21 | -5.84 | -3.26 | -113.58 | -1062.65 | -2330.66 | -2523.77 | -819.74 | -3317.28 | 1822.74 | -21.93 | -16.21 | -41.61 | -43.12 | -199.77 |
| EPS Growth % | -124.06% | -79.14% | 97.13% | 89.31% | 54.41% | 7.65% | -207.87% | 75.29% | -281.99% | 8411.63% | -35.29% | 61.04% | 3.5% | 78.42% | - |
| EPS (Basic) | - | -5.84 | -4.32 | -113.58 | -1062.65 | -2330.66 | -2523.77 | -819.74 | -3317.28 | 1856.88 | -21.93 | -16.21 | -41.61 | -43.12 | -199.77 |
| Diluted Shares Outstanding | 20.11M | 13.4M | 10.78M | 277.73K | 39.2K | 36.19K | 25.51K | 19.85K | 12.07K | 6.51K | 3.07K | 773 | 385.85K | 302.55K | 52.51K |
| Basic Shares Outstanding | 20.11M | 13.4M | 8.13M | 277.73K | 39.2K | 36.19K | 25.51K | 19.85K | 12.07K | 6.39K | 3.07K | 773 | 385.85K | 302.55K | 52.51K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Imminent liquidity and dilution risk
As indicated by the company's recent financial disclosures, Avalo Therapeutics has generated negligible revenue, with the trailing twelve months showing only $59,000, confirming that the firm remains in a pre-commercial stage where top-line growth is non-existent and entirely dependent on sporadic, non-recurring licensing or grant milestones.
The lack of consistent revenue streams underscores the company's status as a pure-play clinical development entity. Investors should interpret the revenue volatility as a reflection of project-based accounting rather than any underlying commercial momentum or market penetration.
Based on reported quarterly filings, Avalo's cost structure is dominated by research and development expenditures, which reached $14.0 million in 2026Q1, highlighting the capital-intensive nature of advancing its immunology pipeline while maintaining a lean administrative overhead relative to its massive, recurring operating deficits.
The concentration of spending in R&D suggests that management is prioritizing clinical milestones over operational efficiency. This cost profile necessitates constant capital infusions, as the current burn rate significantly outpaces the company's ability to generate internal cash flow.
According to the income statement data, Avalo exhibits extreme negative operating leverage, with operating losses consistently exceeding $19 million per quarter, a trend that demonstrates the company's inability to scale its operations without incurring substantial, non-discretionary costs associated with late-stage clinical trial execution.
The persistent gap between R&D spending and the absence of revenue indicates that the company has yet to achieve any meaningful operating scale. This structural imbalance suggests that further clinical progress will only deepen the operating losses until a commercial inflection point is reached.
Financial statements reveal that Avalo's net income is frequently distorted by non-operating items and significant stock-based compensation, which reached $3.6 million in 2026Q1, effectively masking the underlying rate of value destruction for shareholders through persistent equity issuance and complex accounting adjustments.
The volatility in net income, including anomalous positive quarters, appears to be driven by non-recurring items rather than operational success. Investors should monitor the impact of stock-based compensation and frequent share issuances, as these factors significantly dilute the value of existing equity positions.
As reported in recent SEC filings, the company's $15.8 million cash position appears insufficient to support its ongoing R&D burn rate, suggesting that the firm faces a high probability of near-term dilutive financing or a strategic asset sale to maintain its clinical development programs.
The mismatch between available liquidity and the high cost of Phase III-ready assets represents a critical risk to the company's survival. Market participants should be wary of the potential for further equity dilution, which may be required to bridge the gap until a potential licensing deal or clinical success.
Quick answers to the most common questions about buying AVTX stock.
For fiscal year 2025, Avalo Therapeutics, Inc. (AVTX) reported total revenue of $0.1M. This represents a 28.7% decline compared to $0.1M in 2012.
Avalo Therapeutics, Inc. (AVTX) reported a net loss of $78.3M for the fiscal year ending 2025.
Avalo Therapeutics, Inc. (AVTX) reported an operating income of $-72.9M, resulting in an operating profit margin of -123601.7%. This margin reflects the operational efficiency of the business before interest and taxes.
Avalo Therapeutics, Inc. (AVTX) generated $0.1M in gross profit for the year, representing a gross profit margin of 100.0%. This demonstrates the company's core pricing power and production efficiency.