Revenue has collapsed by 81.5% year-over-year to $15,000 in 2026Q1, while operating margins remain deeply negative at -137.4% due to sustained R&D intensity.
| Sales/Revenue | 134K | 200K | 342K | 654K | 473K | 723K | 206K | 0 | 0 |
| Revenue Growth % | -61.71% | -41.52% | -47.71% | 38.27% | -34.58% | 250.97% | - | - | - |
| Cost of Goods Sold | 378K | 43K | 70K | 121K | 26K | 289K | 65K | 900K | 0 |
| COGS % of Revenue | - | 21.5% | 20.47% | 18.5% | 5.5% | 39.97% | 31.55% | - | - |
| Gross Profit | -244K | 157K | 272K | 533K | 447K | 434K | 141K | -900K | 0 |
| Gross Margin % | -182.09% | 78.5% | 79.53% | 81.5% | 94.5% | 60.03% | 68.45% | - | - |
| Gross Profit Growth % | - | -42.28% | -48.97% | 19.24% | 3% | 207.8% | 115.67% | - | - |
| Operating Expenses | 20.57M | 23.24M | 33.37M | 41.07M | 48.86M | 50.41M | 20.36M | 15.43M | 323.94K |
| OpEx % of Revenue | - | 11620% | 9755.85% | 6280.28% | 10328.96% | 6972.61% | 9881.07% | - | - |
| Selling, General & Admin | 7.9M | 9.23M | 13.31M | 14.42M | 16.16M | 18.81M | 3.26M | 6.67M | 323.94K |
| SG&A % of Revenue | - | 4614.5% | 3890.94% | 2204.59% | 3417.12% | 2602.07% | 1583.5% | - | - |
| Research & Development | 12.86M | 14.01M | 20.06M | 26.66M | 31.92M | 28.42M | 15.2M | 8.76M | 6.64M |
| R&D % of Revenue | - | 7005.5% | 5864.91% | 4075.69% | 6748.41% | 3930.29% | 7380.58% | - | - |
| Other Operating Expenses | -188K | 0 | 0 | 0 | 773K | 3.18M | 1.89M | 0 | 0 |
| Operating Income | -20.82M | -23.08M | -33.09M | -40.54M | -48.41M | -49.98M | -20.21M | -16.33M | -323.94K |
| Operating Margin % | -15535.07% | -11541.5% | -9676.32% | -6198.78% | -10234.46% | -6912.59% | -9812.62% | - | - |
| Operating Income Growth % | - | 30.25% | 18.37% | 16.26% | 3.14% | -147.24% | -23.77% | -4941.67% | - |
| EBITDA | -19.37M | -21.59M | -31.45M | -38.84M | -47.39M | -49.02M | -19.25M | -15.43M | 348.06K |
| EBITDA Margin % | -14455.97% | -10794% | -9195.32% | -5938.07% | -10019.03% | -6780.5% | -9345.15% | - | - |
| EBITDA Growth % | 26.37% | 31.35% | 19.02% | 18.05% | 3.33% | -154.65% | -24.75% | -4533.72% | - |
| D&A (Non-Cash Add-back) | 1.45M | 1.5M | 1.65M | 1.71M | 1.02M | 955K | 963K | 900K | 672K |
| EBIT | -25.41M | -23.08M | -35.34M | -44.95M | -26.62M | -9.3M | -17.92M | -16.07M | 19.43K |
| Net Interest Income | -2.68M | -2.46M | -3.2M | -3.17M | -3.3M | -870K | -950K | -88K | 343.37K |
| Interest Income | 189K | 223K | 865K | 1.39M | 0 | 0 | 0 | 0 | 343.37K |
| Interest Expense | 2.87M | 2.68M | 4.06M | 4.56M | 3.3M | 870K | 950K | 88K | 0 |
| Other Income/Expense | -12.7M | -3.09M | -6.31M | -8.96M | 18.49M | 39.81M | 1.34M | 177K | 343.37K |
| Pretax Income | -33.51M | -26.17M | -39.4M | -49.5M | -29.92M | -10.17M | -18.87M | -16.16M | 19.43K |
| Pretax Margin % | -25009.7% | -13086.5% | -11520.47% | -7569.42% | -6325.16% | -1406.36% | -9160.68% | - | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | -428K | 406K | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 4.21% | -2.15% | 0% | 0% |
| Net Income | -33.51M | -26.17M | -39.4M | -49.5M | -29.92M | -9.74M | -19.28M | -16.16M | -277.31K |
| Net Margin % | -25009.7% | -13086.5% | -11520.47% | -7569.42% | -6325.16% | -1347.16% | -9357.77% | - | - |
| Net Income Growth % | -15.28% | 33.57% | 20.41% | -65.47% | -207.17% | 49.47% | -19.33% | -5725.59% | - |
| Net Income (Continuing) | -33.51M | -26.17M | -39.4M | -49.5M | -29.92M | -9.74M | -19.28M | -16.16M | 19.43K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -2.88 | -2.65 | -5.67 | -9.43 | -4.69 | -3.16 | -5.51 | -4.69 | -0.09 |
| EPS Growth % | 24.68% | 53.26% | 39.87% | -101.07% | -48.42% | 42.65% | -17.48% | -5175.59% | - |
| EPS (Basic) | - | -2.65 | -5.67 | -9.43 | -4.69 | -3.16 | -5.51 | -4.69 | -0.09 |
| Diluted Shares Outstanding | 11.64M | 9.86M | 6.95M | 5.25M | 3.26M | 3.08M | 3.5M | 3.47M | 3.12M |
| Basic Shares Outstanding | 11.64M | 9.86M | 6.95M | 5.25M | 3.26M | 3.08M | 3.5M | 3.47M | 3.12M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
Insolvency and dilutive financing
As reported in recent financial filings, Clene's quarterly revenue has plummeted to $15,000 in 2026Q1, representing an 81.5% year-over-year decline that underscores the lack of a viable commercial anchor to support the company's ongoing clinical development and operational overhead requirements.
The revenue stream is derived from legacy supplement sales rather than core pharmaceutical products, rendering it immaterial to the company's long-term valuation. This contraction suggests that the commercial side of the business is failing to provide even a marginal cushion for the company's substantial R&D burn.
Based on the company's income statement, R&D expenses remain the primary driver of the firm's financial profile, with quarterly outlays frequently exceeding $5 million, which significantly outpaces the company's ability to generate revenue or maintain a sustainable operating margin.
The high fixed-cost structure is entirely dictated by the execution of late-stage clinical trials for neurodegenerative indications. Investors should monitor whether these expenditures are yielding sufficient clinical data to justify the continued depletion of capital, as the current cost structure is unsustainable without external funding.
According to historical income statements, Clene's net income is consistently negative, with quarterly losses reaching as high as $13.5 million, a trend that is exacerbated by the intermittent use of stock-based compensation to manage liquidity constraints during periods of high cash burn.
The reported net income figures are heavily influenced by non-operating items and the necessity of financing activities, which complicates the assessment of core operational performance. The recurring nature of these losses warrants further investigation into the company's ability to reach a self-sustaining financial position.
As indicated by the most recent quarterly data, the company's cash reserves have dwindled to approximately $5.2 million, creating a precarious financial situation that suggests an immediate risk of insolvency or the requirement for highly dilutive equity financing to continue operations.
While the company's proprietary electrochemistry platform offers a unique mechanism of action, the market may be underestimating the severity of the current liquidity crunch. The reliance on external capital markets in a high-rate environment poses a significant threat to existing shareholders, regardless of the potential clinical efficacy of CNM-Au8.
Quick answers to the most common questions about buying CLNN stock.
For fiscal year 2025, Clene Inc. (CLNN) reported total revenue of $0.2M.
Clene Inc. (CLNN) reported a net loss of $26.2M for the fiscal year ending 2025.
Clene Inc. (CLNN) reported an operating income of $-23.1M, resulting in an operating profit margin of -11541.5%. This margin reflects the operational efficiency of the business before interest and taxes.
Clene Inc. (CLNN) generated $0.2M in gross profit for the year, representing a gross profit margin of 78.5%. This demonstrates the company's core pricing power and production efficiency.