Carisma Therapeutics, Inc. (CARM) 10-Year Financial Performance & Capital Metrics

CARM • • Industrial / General

HealthcareBiotechnologyOncology TherapeuticsImmuno-Oncology

AboutCarisma Therapeutics, Inc., a biopharmaceutical company, develops chimeric antigen receptors (CAR) macrophages for the treatment of solid tumors. Its solutions are used to play a crucial role in the innate and adaptive immune response, and technology leverages advances in macrophage biology, chimeric antigen receptor engineering, and adoptive cellular therapy for the treatment of human diseases. Carisma Therapeutics, Inc. has a strategic collaboration agreement with Moderna Inc. Carisma Therapeutics, Inc. was formerly known as CARMA Therapeutics Inc. and changed its name to Carisma Therapeutics, Inc. in May 2017. The company was incorporated in 2016 and is based in Philadelphia, Pennsylvania.Show more

Revenue $20M +31.6%
EBITDA -$59M +31.5%
Net Income -$60M +30.4%
EPS (Diluted) -1.46 +43.6%
Gross Margin -203.96% +48.6%
EBITDA Margin -299.64% +48.0%
Operating Margin -316.72% +46.7%
Net Margin -308.05% +47.1%
ROE -
ROIC -
Debt/Equity -
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

No significant strengths identified

✗Weaknesses

✗Negative free cash flow
✗Weak momentum: RS Rating 3 (bottom 3%)
✗Shares diluted 23.7% in last year
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y24.23%

5Y-

3Y-9.57%

TTM-63.58%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM112.61%

EPS CAGR

10Y-

5Y-

3Y-

TTM112.82%

ROCE

10Y Avg-51.33%

5Y Avg-69.24%

3Y Avg-104.57%

Latest-141.24%

Peer Comparison

Immuno-Oncology

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
IMTXImmatics N.V.	1.33B	9.92	70.86	188.6%	-136.72%	-27.81%	0.03
CTMXCytomX Therapeutics, Inc.	720.1M	4.25	11.18	36.45%	24.66%	26.09%
IOVAIovance Biotherapeutics, Inc.	881.27M	2.22	-1.73	136.99%	-158.78%	-56.62%	0.08
REPLReplimune Group, Inc.	572.64M	7.30	-2.38			-117.82%	0.18
NKTRNektar Therapeutics	719.28M	35.36	-4.07	9.22%	-192.87%	-141.9%	1.69
IMNMImmunome, Inc.	2.52B	22.85	-4.57	-35.5%	-23.01%	-84.4%	0.03
IBRXImmunityBio, Inc.	3.89B	3.95	-6.37	22.71%	-422.28%
NRIXNurix Therapeutics, Inc.	1.91B	18.86	-6.55	-29.15%	-292.5%	-65.76%	0.05

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	990K	29.98M	425K	0	0	11.24M	26.54M	9.83M	14.92M	19.63M
Revenue Growth %	-0.56%	29.28%	-0.99%	-1%	-	-	1.36%	-0.63%	0.52%	0.32%
Cost of Goods Sold+	0	0	0	208K	219K	0	85K	0	74.13M	59.67M
COGS % of Revenue	-	-	-	-	-	-	0%	-	4.97%	3.04%
Gross Profit+	990K	29.98M	425K	-208K	-219K	11.24M	26.46M	9.83M	-59.21M	-40.04M
Gross Margin %	1%	1%	1%	-	-	1%	1%	1%	-3.97%	-2.04%
Gross Profit Growth %	-0.56%	29.28%	-0.99%	-1.49%	-0.05%	52.31%	1.35%	-0.63%	-7.02%	0.32%
Operating Expenses+	35.82M	23.64M	20.13M	25.49M	36.65M	28.38M	54.62M	66M	29.52M	22.14M
OpEx % of Revenue	36.18%	0.79%	47.35%	-	-	2.53%	2.06%	6.71%	1.98%	1.13%
Selling, General & Admin	9.85M	11.44M	7.9M	11.62M	12.21M	5.09M	29.39M	9.38M	29.52M	20.14M
SG&A % of Revenue	9.95%	0.38%	18.59%	-	-	0.45%	1.11%	0.95%	1.98%	1.03%
Research & Development	25.97M	12.2M	12.22M	13.87M	24.44M	23.29M	25.23M	56.62M	74.13M	59.67M
R&D % of Revenue	26.23%	0.41%	28.76%	-	-	2.07%	0.95%	5.76%	4.97%	3.04%
Other Operating Expenses	0	0	0	0	0	0	0	0	-74.13M	-57.67M
Operating Income+	-35.2M	6.17M	-19.98M	-25.7M	-36.87M	-28.38M	-28.16M	-56.16M	-88.73M	-62.18M
Operating Margin %	-35.55%	0.21%	-47.02%	-	-	-2.53%	-1.06%	-5.71%	-5.95%	-3.17%
Operating Income Growth %	-0.07%	1.18%	-4.24%	-0.29%	-0.43%	0.23%	0.01%	-0.99%	-0.58%	0.3%
EBITDA+	-34.83M	6.34M	-19.7M	-25.49M	-36.65M	-28.26M	-28.08M	-54.27M	-85.89M	-58.83M
EBITDA Margin %	-35.18%	0.21%	-46.35%	-	-	-2.51%	-1.06%	-5.52%	-5.76%	-3%
EBITDA Growth %	-0.07%	1.18%	-4.11%	-0.29%	-0.44%	0.23%	0.01%	-0.93%	-0.58%	0.32%
D&A (Non-Cash Add-back)	366K	178K	285K	208K	219K	122K	85K	1.89M	2.84M	3.35M
EBIT	-32.06M	2.14M	-29.03M	-33.69M	-107.5M	-28.38M	-8.61M	-58.08M	-88.73M	-60.18M
Net Interest Income+	0	0	0	0	0	29K	10K	-3.15M	1.94M	1.7M
Interest Income	0	0	0	0	0	29K	10K	0	1.94M	1.7M
Interest Expense	1.4M	247K	0	0	0	0	0	3.15M	0	0
Other Income/Expense	1.74M	-4.27M	-9.04M	-7.99M	-70.63M	29K	19.55M	-5.06M	1.85M	1.7M
Pretax Income+	-33.45M	1.9M	-29.03M	-33.69M	-107.5M	-28.35M	-8.61M	-61.23M	-86.88M	-60.48M
Pretax Margin %	-33.79%	0.06%	-68.3%	-	-	-2.52%	-0.32%	-6.23%	-5.82%	-3.08%
Income Tax+	0	5K	0	46.86K	0	0	-8.27M	0	0	0
Effective Tax Rate %	1%	1%	1%	1%	1%	1%	0.04%	1%	1%	1%
Net Income+	-33.45M	1.89M	-29.03M	-33.69M	-107.5M	-28.35M	-336K	-61.23M	-86.88M	-60.48M
Net Margin %	-33.79%	0.06%	-68.3%	-	-	-2.52%	-0.01%	-6.23%	-5.82%	-3.08%
Net Income Growth %	0.03%	1.06%	-16.35%	-0.16%	-2.19%	0.74%	0.99%	-181.22%	-0.42%	0.3%
Net Income (Continuing)	-33.45M	1.89M	-29.03M	-33.69M	-107.5M	-28.35M	-336K	-61.23M	-86.88M	-60.48M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	14.39M	0	0
EPS (Diluted)+	-35.23	1.74	-22.24	-10.91	-23.64	-0.70	-1.01	-1.52	-2.59	-1.46
EPS Growth %	0.25%	1.05%	-13.78%	0.51%	-1.17%	0.97%	-0.44%	-0.5%	-0.7%	0.44%
EPS (Basic)	-35.23	1.79	-22.24	-10.91	-23.64	-0.70	-1.01	-1.52	-2.59	-1.46
Diluted Shares Outstanding	949.65K	1.09M	1.3M	3.09M	4.55M	5.91M	9.12M	40.26M	33.52M	41.46M
Basic Shares Outstanding	949.65K	1.05M	1.3M	3.09M	4.55M	5.91M	9.12M	40.26M	33.52M	41.46M
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+	36.31M	25.93M	14.98M	51.76M	54.45M	62.87M	205.6M	54.59M	80.47M	23.82M
Cash & Short-Term Investments	36.08M	25.34M	14.68M	50.42M	48.12M	55.39M	162.64M	52M	77.61M	18.83M
Cash Only	36.08M	25.34M	14.68M	50.42M	48.12M	55.39M	162.64M	24.19M	77.61M	17.91M
Short-Term Investments	0	0	0	0	0	0	0	27.8M	0	925K
Accounts Receivable	0	0	0	0	0	0	24.49M	0	0	2.86M
Days Sales Outstanding	-	-	-	-	-	-	336.8	-	-	53.25
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	232K	585K	301K	1.33M	6.33M	7.48M	18.48M	2.6M	2.87M	1.79M
Total Non-Current Assets+	514K	78.17M	60.12M	59.8M	59.92M	125.59M	106.99M	17.56M	9.08M	6.63M
Property, Plant & Equipment	407K	796K	522K	321K	238K	123K	43K	13.45M	8.94M	6.42M
Fixed Asset Turnover	2.43x	37.66x	0.81x	-	-	91.35x	617.30x	0.73x	1.67x	3.06x
Goodwill	0	16.86M	13.06M	13.06M	13.06M	13.06M	13.06M	0	0	0
Intangible Assets	0	60.5M	46.4M	46.4M	46.4M	46.4M	14.7M	0	0	0
Long-Term Investments	94K	10K	10K	20K	20K	20K	20K	0	0	0
Other Non-Current Assets	13K	10K	120K	20K	196K	349K	7.32M	4.11M	146K	208K
Total Assets+	36.83M	104.1M	75.1M	111.56M	114.36M	188.45M	312.6M	72.15M	89.55M	30.46M
Asset Turnover	0.03x	0.29x	0.01x	-	-	0.06x	0.08x	0.14x	0.17x	0.64x
Asset Growth %	-0.33%	1.83%	-0.28%	0.49%	0.03%	0.65%	0.66%	-0.77%	0.24%	-0.66%
Total Current Liabilities+	7.58M	3.98M	4.72M	6.11M	8.52M	18.05M	11.57M	19.67M	15.91M	16.05M
Accounts Payable	1.25M	1.67M	907K	1.37M	1.9M	3.1M	2.85M	1.73M	3.93M	2.08M
Days Payables Outstanding	-	-	-	2.4K	3.17K	-	12.25K	-	19.37	12.73
Short-Term Debt	4.13M	0	0	0	0	0	0	0	0	0
Deferred Revenue (Current)	406K	425K	0	0	0	1000K	0	1000K	1000K	0
Other Current Liabilities	1.79M	1.54M	3.08M	4.75M	4.98M	11.55M	5.75M	3.33M	4.07M	4.79M
Current Ratio	4.79x	6.51x	3.17x	8.47x	6.39x	3.48x	17.77x	2.78x	5.06x	1.48x
Quick Ratio	4.79x	6.51x	3.17x	8.47x	6.39x	3.48x	17.77x	2.78x	5.06x	1.48x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	10.3M	61.44M	52.34M	61.24M	132.55M	179.63M	129.32M	195.15M	47.11M	42.31M
Long-Term Debt	9.76M	0	0	0	0	0	0	33.72M	0	0
Capital Lease Obligations	0	0	0	0	0	0	0	1.85M	1.19M	744K
Deferred Tax Liabilities	0	16.34M	12.53M	12.53M	12.53M	78.16M	75.82M	0	0	0
Other Non-Current Liabilities	538K	45.1M	39.81M	48.71M	120.02M	99.97M	52M	114.59M	926K	41.57M
Total Liabilities	17.88M	65.42M	57.06M	67.35M	141.06M	197.68M	140.89M	214.82M	63.02M	58.37M
Total Debt+	13.9M	0	0	0	0	0	0	40.16M	3.12M	2.48M
Net Debt	-22.18M	-25.34M	-14.68M	-50.42M	-48.12M	-55.39M	-162.64M	15.97M	-74.48M	-15.43M
Debt / Equity	0.73x	-	-	-	-	-	-	-	0.12x	-
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-3.99x	-	-	-	-	-	-	-	-
Interest Coverage	-25.23x	24.96x	-	-	-	-	-	-17.86x	-	-
Total Equity+	18.94M	38.68M	18.03M	44.21M	-26.7M	-9.23M	171.71M	-142.67M	26.53M	-27.91M
Equity Growth %	-0.49%	1.04%	-0.53%	1.45%	-1.6%	0.65%	19.61%	-1.83%	1.19%	-2.05%
Book Value per Share	19.95	35.58	13.82	14.31	-5.87	-1.56	18.84	-3.54	0.79	-0.67
Total Shareholders' Equity	18.94M	38.68M	18.03M	44.21M	-26.7M	-9.23M	171.71M	-157.06M	26.53M	-27.91M
Common Stock	20K	25K	35K	77K	107K	140K	199K	2K	40K	41K
Retained Earnings	-125.2M	-123.31M	-152.33M	-186.02M	-293.52M	-315.92M	-316.26M	-158.22M	-245.1M	-305.58M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-1.96M	-71K	-331K	-539K	-758K	0	0	-41K	0	0
Minority Interest	0	0	0	0	0	0	0	14.39M	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+	-34.53M	2.62M	-17.77M	-22.83M	-37.52M	-27.01M	-37.33M	-7.57M	-81.18M	-59.92M
Operating CF Margin %	-34.88%	0.09%	-41.8%	-	-	-2.4%	-1.41%	-0.77%	-5.44%	-3.05%
Operating CF Growth %	-0.18%	1.08%	-7.78%	-0.29%	-0.64%	0.28%	-0.38%	0.8%	-9.73%	0.26%
Net Income	-33.45M	1.89M	-29.03M	-33.69M	-107.5M	-28.35M	-40.78M	-61.23M	-86.88M	-60.48M
Depreciation & Amortization	366K	178K	285K	208K	219K	448K	682K	6.09M	2.84M	3.35M
Stock-Based Compensation	2.53M	4.01M	1.38M	0	0	163K	479K	0	2.32M	3.65M
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	1.48M	4.12M	11.7M	10.03M	72.86M	1.18M	834K	2.37M	5.99M	5.51M
Working Capital Changes	-976K	-2.47M	611K	578K	-3.1M	-453K	1.46M	45.2M	-5.44M	-11.95M
Change in Receivables	0	0	0	0	0	0	0	23.67M	0	0
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	-1.21M	-742K	-760K	460K	535K	1.28M	-974K	-473K	2.19M	-1.85M
Cash from Investing+	-287K	461K	98K	-2K	-136K	-440K	-1.87M	-32.56M	72.41M	-123K
Capital Expenditures	-287K	0	0	-2K	-136K	-440K	-1.87M	-4.66M	-1.13M	-123K
CapEx % of Revenue	0.29%	-	-	-	-	0.04%	0.07%	0.47%	0.08%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	461K	98K	0	0	0	0	0	0	0
Cash from Financing+	16.84M	-13.82M	7M	58.58M	35.36M	72.26M	15.96M	35.77M	62.18M	344K
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	0	0	0	19K	-366K	1.53M	32.65M	-619K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-34.82M	2.62M	-17.77M	-22.83M	-37.66M	-27.45M	-39.2M	-12.23M	-82.31M	-60.04M
FCF Margin %	-35.17%	0.09%	-41.8%	-	-	-2.44%	-1.48%	-1.24%	-5.52%	-3.06%
FCF Growth %	-0.18%	1.08%	-7.78%	-0.29%	-0.65%	0.27%	-0.43%	0.69%	-5.73%	0.27%
FCF per Share	-36.66	2.41	-13.61	-7.39	-8.28	-4.64	-4.30	-0.30	-2.46	-1.45
FCF Conversion (FCF/Net Income)	1.03x	1.39x	0.61x	0.68x	0.35x	0.95x	111.10x	0.12x	0.93x	0.99x
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)	-119.96%	6.56%	-102.38%	-108.27%	-1228.08%	-	-0.41%	-421.67%	-327.45%	-
Return on Invested Capital (ROIC)	-	91.6%	-179.62%	-	-	-	-232.76%	-	-	-
Gross Margin	100%	100%	100%	-	-	100%	99.68%	100%	-396.85%	-203.96%
Net Margin	-3378.99%	6.31%	-6830.35%	-	-	-252.31%	-1.27%	-622.6%	-582.34%	-308.05%
Debt / Equity	0.73x	-	-	-	-	-	-	-	0.12x	-
Interest Coverage	-25.23x	24.96x	-	-	-	-	-	-17.86x	-	-
FCF Conversion	1.03x	1.39x	0.61x	0.68x	0.35x	0.95x	111.10x	0.12x	0.93x	0.99x
Revenue Growth	-55.86%	2928.38%	-98.58%	-100%	-	-	136.24%	-62.95%	51.71%	31.59%

Revenue by Segment

	2020	2024
Milestones	-	2M
Milestones Growth	-	-
License Revenue	11.24M	-
License Revenue Growth	-	-

Frequently Asked Questions

Growth & Financials

Carisma Therapeutics, Inc. (CARM) reported $7.4M in revenue for fiscal year 2024.

Carisma Therapeutics, Inc. (CARM) grew revenue by 31.6% over the past year. This is strong growth.

Yes, Carisma Therapeutics, Inc. (CARM) is profitable, generating $8.0M in net income for fiscal year 2024 (-308.1% net margin).

Dividend & Returns

Carisma Therapeutics, Inc. (CARM) had negative free cash flow of $22.4M in fiscal year 2024, likely due to heavy capital investments.

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Carisma Therapeutics, Inc. (CARM) 10-Year Financial Performance & Capital Metrics

CARM • • Industrial / General

HealthcareBiotechnologyOncology TherapeuticsImmuno-Oncology

Revenue $20M +31.6%
EBITDA -$59M +31.5%
Net Income -$60M +30.4%
EPS (Diluted) -1.46 +43.6%
Gross Margin -203.96% +48.6%
EBITDA Margin -299.64% +48.0%
Operating Margin -316.72% +46.7%
Net Margin -308.05% +47.1%
ROE -
ROIC -
Debt/Equity -
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

No significant strengths identified

✗Weaknesses

✗Negative free cash flow
✗Weak momentum: RS Rating 3 (bottom 3%)
✗Shares diluted 23.7% in last year
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y24.23%

5Y-

3Y-9.57%

TTM-63.58%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM112.61%

EPS CAGR

10Y-

5Y-

3Y-

TTM112.82%

ROCE

10Y Avg-51.33%

5Y Avg-69.24%

3Y Avg-104.57%

Latest-141.24%

Peer Comparison

Immuno-Oncology

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
IMTXImmatics N.V.	1.33B	9.92	70.86	188.6%	-136.72%	-27.81%	0.03
CTMXCytomX Therapeutics, Inc.	720.1M	4.25	11.18	36.45%	24.66%	26.09%
IOVAIovance Biotherapeutics, Inc.	881.27M	2.22	-1.73	136.99%	-158.78%	-56.62%	0.08
REPLReplimune Group, Inc.	572.64M	7.30	-2.38			-117.82%	0.18
NKTRNektar Therapeutics	719.28M	35.36	-4.07	9.22%	-192.87%	-141.9%	1.69
IMNMImmunome, Inc.	2.52B	22.85	-4.57	-35.5%	-23.01%	-84.4%	0.03
IBRXImmunityBio, Inc.	3.89B	3.95	-6.37	22.71%	-422.28%
NRIXNurix Therapeutics, Inc.	1.91B	18.86	-6.55	-29.15%	-292.5%	-65.76%	0.05

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	990K	29.98M	425K	0	0	11.24M	26.54M	9.83M	14.92M	19.63M
Revenue Growth %	-0.56%	29.28%	-0.99%	-1%	-	-	1.36%	-0.63%	0.52%	0.32%
Cost of Goods Sold+	0	0	0	208K	219K	0	85K	0	74.13M	59.67M
COGS % of Revenue	-	-	-	-	-	-	0%	-	4.97%	3.04%
Gross Profit+	990K	29.98M	425K	-208K	-219K	11.24M	26.46M	9.83M	-59.21M	-40.04M
Gross Margin %	1%	1%	1%	-	-	1%	1%	1%	-3.97%	-2.04%
Gross Profit Growth %	-0.56%	29.28%	-0.99%	-1.49%	-0.05%	52.31%	1.35%	-0.63%	-7.02%	0.32%
Operating Expenses+	35.82M	23.64M	20.13M	25.49M	36.65M	28.38M	54.62M	66M	29.52M	22.14M
OpEx % of Revenue	36.18%	0.79%	47.35%	-	-	2.53%	2.06%	6.71%	1.98%	1.13%
Selling, General & Admin	9.85M	11.44M	7.9M	11.62M	12.21M	5.09M	29.39M	9.38M	29.52M	20.14M
SG&A % of Revenue	9.95%	0.38%	18.59%	-	-	0.45%	1.11%	0.95%	1.98%	1.03%
Research & Development	25.97M	12.2M	12.22M	13.87M	24.44M	23.29M	25.23M	56.62M	74.13M	59.67M
R&D % of Revenue	26.23%	0.41%	28.76%	-	-	2.07%	0.95%	5.76%	4.97%	3.04%
Other Operating Expenses	0	0	0	0	0	0	0	0	-74.13M	-57.67M
Operating Income+	-35.2M	6.17M	-19.98M	-25.7M	-36.87M	-28.38M	-28.16M	-56.16M	-88.73M	-62.18M
Operating Margin %	-35.55%	0.21%	-47.02%	-	-	-2.53%	-1.06%	-5.71%	-5.95%	-3.17%
Operating Income Growth %	-0.07%	1.18%	-4.24%	-0.29%	-0.43%	0.23%	0.01%	-0.99%	-0.58%	0.3%
EBITDA+	-34.83M	6.34M	-19.7M	-25.49M	-36.65M	-28.26M	-28.08M	-54.27M	-85.89M	-58.83M
EBITDA Margin %	-35.18%	0.21%	-46.35%	-	-	-2.51%	-1.06%	-5.52%	-5.76%	-3%
EBITDA Growth %	-0.07%	1.18%	-4.11%	-0.29%	-0.44%	0.23%	0.01%	-0.93%	-0.58%	0.32%
D&A (Non-Cash Add-back)	366K	178K	285K	208K	219K	122K	85K	1.89M	2.84M	3.35M
EBIT	-32.06M	2.14M	-29.03M	-33.69M	-107.5M	-28.38M	-8.61M	-58.08M	-88.73M	-60.18M
Net Interest Income+	0	0	0	0	0	29K	10K	-3.15M	1.94M	1.7M
Interest Income	0	0	0	0	0	29K	10K	0	1.94M	1.7M
Interest Expense	1.4M	247K	0	0	0	0	0	3.15M	0	0
Other Income/Expense	1.74M	-4.27M	-9.04M	-7.99M	-70.63M	29K	19.55M	-5.06M	1.85M	1.7M
Pretax Income+	-33.45M	1.9M	-29.03M	-33.69M	-107.5M	-28.35M	-8.61M	-61.23M	-86.88M	-60.48M
Pretax Margin %	-33.79%	0.06%	-68.3%	-	-	-2.52%	-0.32%	-6.23%	-5.82%	-3.08%
Income Tax+	0	5K	0	46.86K	0	0	-8.27M	0	0	0
Effective Tax Rate %	1%	1%	1%	1%	1%	1%	0.04%	1%	1%	1%
Net Income+	-33.45M	1.89M	-29.03M	-33.69M	-107.5M	-28.35M	-336K	-61.23M	-86.88M	-60.48M
Net Margin %	-33.79%	0.06%	-68.3%	-	-	-2.52%	-0.01%	-6.23%	-5.82%	-3.08%
Net Income Growth %	0.03%	1.06%	-16.35%	-0.16%	-2.19%	0.74%	0.99%	-181.22%	-0.42%	0.3%
Net Income (Continuing)	-33.45M	1.89M	-29.03M	-33.69M	-107.5M	-28.35M	-336K	-61.23M	-86.88M	-60.48M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	14.39M	0	0
EPS (Diluted)+	-35.23	1.74	-22.24	-10.91	-23.64	-0.70	-1.01	-1.52	-2.59	-1.46
EPS Growth %	0.25%	1.05%	-13.78%	0.51%	-1.17%	0.97%	-0.44%	-0.5%	-0.7%	0.44%
EPS (Basic)	-35.23	1.79	-22.24	-10.91	-23.64	-0.70	-1.01	-1.52	-2.59	-1.46
Diluted Shares Outstanding	949.65K	1.09M	1.3M	3.09M	4.55M	5.91M	9.12M	40.26M	33.52M	41.46M
Basic Shares Outstanding	949.65K	1.05M	1.3M	3.09M	4.55M	5.91M	9.12M	40.26M	33.52M	41.46M
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+	36.31M	25.93M	14.98M	51.76M	54.45M	62.87M	205.6M	54.59M	80.47M	23.82M
Cash & Short-Term Investments	36.08M	25.34M	14.68M	50.42M	48.12M	55.39M	162.64M	52M	77.61M	18.83M
Cash Only	36.08M	25.34M	14.68M	50.42M	48.12M	55.39M	162.64M	24.19M	77.61M	17.91M
Short-Term Investments	0	0	0	0	0	0	0	27.8M	0	925K
Accounts Receivable	0	0	0	0	0	0	24.49M	0	0	2.86M
Days Sales Outstanding	-	-	-	-	-	-	336.8	-	-	53.25
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	232K	585K	301K	1.33M	6.33M	7.48M	18.48M	2.6M	2.87M	1.79M
Total Non-Current Assets+	514K	78.17M	60.12M	59.8M	59.92M	125.59M	106.99M	17.56M	9.08M	6.63M
Property, Plant & Equipment	407K	796K	522K	321K	238K	123K	43K	13.45M	8.94M	6.42M
Fixed Asset Turnover	2.43x	37.66x	0.81x	-	-	91.35x	617.30x	0.73x	1.67x	3.06x
Goodwill	0	16.86M	13.06M	13.06M	13.06M	13.06M	13.06M	0	0	0
Intangible Assets	0	60.5M	46.4M	46.4M	46.4M	46.4M	14.7M	0	0	0
Long-Term Investments	94K	10K	10K	20K	20K	20K	20K	0	0	0
Other Non-Current Assets	13K	10K	120K	20K	196K	349K	7.32M	4.11M	146K	208K
Total Assets+	36.83M	104.1M	75.1M	111.56M	114.36M	188.45M	312.6M	72.15M	89.55M	30.46M
Asset Turnover	0.03x	0.29x	0.01x	-	-	0.06x	0.08x	0.14x	0.17x	0.64x
Asset Growth %	-0.33%	1.83%	-0.28%	0.49%	0.03%	0.65%	0.66%	-0.77%	0.24%	-0.66%
Total Current Liabilities+	7.58M	3.98M	4.72M	6.11M	8.52M	18.05M	11.57M	19.67M	15.91M	16.05M
Accounts Payable	1.25M	1.67M	907K	1.37M	1.9M	3.1M	2.85M	1.73M	3.93M	2.08M
Days Payables Outstanding	-	-	-	2.4K	3.17K	-	12.25K	-	19.37	12.73
Short-Term Debt	4.13M	0	0	0	0	0	0	0	0	0
Deferred Revenue (Current)	406K	425K	0	0	0	1000K	0	1000K	1000K	0
Other Current Liabilities	1.79M	1.54M	3.08M	4.75M	4.98M	11.55M	5.75M	3.33M	4.07M	4.79M
Current Ratio	4.79x	6.51x	3.17x	8.47x	6.39x	3.48x	17.77x	2.78x	5.06x	1.48x
Quick Ratio	4.79x	6.51x	3.17x	8.47x	6.39x	3.48x	17.77x	2.78x	5.06x	1.48x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	10.3M	61.44M	52.34M	61.24M	132.55M	179.63M	129.32M	195.15M	47.11M	42.31M
Long-Term Debt	9.76M	0	0	0	0	0	0	33.72M	0	0
Capital Lease Obligations	0	0	0	0	0	0	0	1.85M	1.19M	744K
Deferred Tax Liabilities	0	16.34M	12.53M	12.53M	12.53M	78.16M	75.82M	0	0	0
Other Non-Current Liabilities	538K	45.1M	39.81M	48.71M	120.02M	99.97M	52M	114.59M	926K	41.57M
Total Liabilities	17.88M	65.42M	57.06M	67.35M	141.06M	197.68M	140.89M	214.82M	63.02M	58.37M
Total Debt+	13.9M	0	0	0	0	0	0	40.16M	3.12M	2.48M
Net Debt	-22.18M	-25.34M	-14.68M	-50.42M	-48.12M	-55.39M	-162.64M	15.97M	-74.48M	-15.43M
Debt / Equity	0.73x	-	-	-	-	-	-	-	0.12x	-
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-3.99x	-	-	-	-	-	-	-	-
Interest Coverage	-25.23x	24.96x	-	-	-	-	-	-17.86x	-	-
Total Equity+	18.94M	38.68M	18.03M	44.21M	-26.7M	-9.23M	171.71M	-142.67M	26.53M	-27.91M
Equity Growth %	-0.49%	1.04%	-0.53%	1.45%	-1.6%	0.65%	19.61%	-1.83%	1.19%	-2.05%
Book Value per Share	19.95	35.58	13.82	14.31	-5.87	-1.56	18.84	-3.54	0.79	-0.67
Total Shareholders' Equity	18.94M	38.68M	18.03M	44.21M	-26.7M	-9.23M	171.71M	-157.06M	26.53M	-27.91M
Common Stock	20K	25K	35K	77K	107K	140K	199K	2K	40K	41K
Retained Earnings	-125.2M	-123.31M	-152.33M	-186.02M	-293.52M	-315.92M	-316.26M	-158.22M	-245.1M	-305.58M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-1.96M	-71K	-331K	-539K	-758K	0	0	-41K	0	0
Minority Interest	0	0	0	0	0	0	0	14.39M	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+	-34.53M	2.62M	-17.77M	-22.83M	-37.52M	-27.01M	-37.33M	-7.57M	-81.18M	-59.92M
Operating CF Margin %	-34.88%	0.09%	-41.8%	-	-	-2.4%	-1.41%	-0.77%	-5.44%	-3.05%
Operating CF Growth %	-0.18%	1.08%	-7.78%	-0.29%	-0.64%	0.28%	-0.38%	0.8%	-9.73%	0.26%
Net Income	-33.45M	1.89M	-29.03M	-33.69M	-107.5M	-28.35M	-40.78M	-61.23M	-86.88M	-60.48M
Depreciation & Amortization	366K	178K	285K	208K	219K	448K	682K	6.09M	2.84M	3.35M
Stock-Based Compensation	2.53M	4.01M	1.38M	0	0	163K	479K	0	2.32M	3.65M
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	1.48M	4.12M	11.7M	10.03M	72.86M	1.18M	834K	2.37M	5.99M	5.51M
Working Capital Changes	-976K	-2.47M	611K	578K	-3.1M	-453K	1.46M	45.2M	-5.44M	-11.95M
Change in Receivables	0	0	0	0	0	0	0	23.67M	0	0
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	-1.21M	-742K	-760K	460K	535K	1.28M	-974K	-473K	2.19M	-1.85M
Cash from Investing+	-287K	461K	98K	-2K	-136K	-440K	-1.87M	-32.56M	72.41M	-123K
Capital Expenditures	-287K	0	0	-2K	-136K	-440K	-1.87M	-4.66M	-1.13M	-123K
CapEx % of Revenue	0.29%	-	-	-	-	0.04%	0.07%	0.47%	0.08%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	461K	98K	0	0	0	0	0	0	0
Cash from Financing+	16.84M	-13.82M	7M	58.58M	35.36M	72.26M	15.96M	35.77M	62.18M	344K
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	0	0	0	19K	-366K	1.53M	32.65M	-619K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-34.82M	2.62M	-17.77M	-22.83M	-37.66M	-27.45M	-39.2M	-12.23M	-82.31M	-60.04M
FCF Margin %	-35.17%	0.09%	-41.8%	-	-	-2.44%	-1.48%	-1.24%	-5.52%	-3.06%
FCF Growth %	-0.18%	1.08%	-7.78%	-0.29%	-0.65%	0.27%	-0.43%	0.69%	-5.73%	0.27%
FCF per Share	-36.66	2.41	-13.61	-7.39	-8.28	-4.64	-4.30	-0.30	-2.46	-1.45
FCF Conversion (FCF/Net Income)	1.03x	1.39x	0.61x	0.68x	0.35x	0.95x	111.10x	0.12x	0.93x	0.99x
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)	-119.96%	6.56%	-102.38%	-108.27%	-1228.08%	-	-0.41%	-421.67%	-327.45%	-
Return on Invested Capital (ROIC)	-	91.6%	-179.62%	-	-	-	-232.76%	-	-	-
Gross Margin	100%	100%	100%	-	-	100%	99.68%	100%	-396.85%	-203.96%
Net Margin	-3378.99%	6.31%	-6830.35%	-	-	-252.31%	-1.27%	-622.6%	-582.34%	-308.05%
Debt / Equity	0.73x	-	-	-	-	-	-	-	0.12x	-
Interest Coverage	-25.23x	24.96x	-	-	-	-	-	-17.86x	-	-
FCF Conversion	1.03x	1.39x	0.61x	0.68x	0.35x	0.95x	111.10x	0.12x	0.93x	0.99x
Revenue Growth	-55.86%	2928.38%	-98.58%	-100%	-	-	136.24%	-62.95%	51.71%	31.59%

Revenue by Segment

	2020	2024
Milestones	-	2M
Milestones Growth	-	-
License Revenue	11.24M	-
License Revenue Growth	-	-

Frequently Asked Questions

Growth & Financials

Carisma Therapeutics, Inc. (CARM) reported $7.4M in revenue for fiscal year 2024.

Carisma Therapeutics, Inc. (CARM) grew revenue by 31.6% over the past year. This is strong growth.

Yes, Carisma Therapeutics, Inc. (CARM) is profitable, generating $8.0M in net income for fiscal year 2024 (-308.1% net margin).

Dividend & Returns

Carisma Therapeutics, Inc. (CARM) had negative free cash flow of $22.4M in fiscal year 2024, likely due to heavy capital investments.