The company remains a pre-revenue entity, with the -100% revenue growth reported in 2025Q2 highlighting a total lack of commercial activity and reliance on external funding.
Compass Therapeutics, Inc. (CMPX) annual income statement — 8-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Mar'20 | Mar'19 |
|---|
| Sales/Revenue | 0 | 0 | 850K | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | -100% | - | - | - | - | - | - | - |
| Cost of Goods Sold | 738K | 1.47M | 0 | 0 | 0 | 0 | 0 | 0 | 1.92M |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - |
| Gross Profit | -738K | -1.47M | 850K | 0 | 0 | 0 | 0 | 0 | -1.92M |
| Gross Margin % | - | - | 100% | - | - | - | - | - | - |
| Gross Profit Growth % | - | -273.18% | - | - | - | - | - | 100% | - |
| Operating Expenses | 80.35M | 71.37M | 57.48M | 50.36M | 41.66M | 81.88M | 27.81M | 34.05M | 38.31M |
| OpEx % of Revenue | - | - | 6761.76% | - | - | - | - | - | - |
| Selling, General & Admin | 21.27M | 16.87M | 15.13M | 12.24M | 11.66M | 10.93M | 12.91M | 11.6M | 11.22M |
| SG&A % of Revenue | - | - | 1780.35% | - | - | - | - | - | - |
| Research & Development | 59.45M | 55.97M | 42.34M | 38.12M | 30M | 20.34M | 14.9M | 22.45M | 27.09M |
| R&D % of Revenue | - | - | 4981.41% | - | - | - | - | - | - |
| Other Operating Expenses | -370K | -1.47M | 0 | 0 | 0 | 50.62M | 0 | 0 | 0 |
| Operating Income | -81.08M | -72.84M | -56.63M | -50.36M | -41.66M | -81.88M | -27.81M | -34.05M | -38.31M |
| Operating Margin % | - | - | -6661.76% | - | - | - | - | - | - |
| Operating Income Growth % | - | -28.63% | -12.43% | -20.91% | 49.13% | -194.41% | 18.32% | 11.12% | - |
| EBITDA | -80.31M | -71.37M | -54.87M | -48.47M | -39.75M | -80.26M | -25.41M | -31.93M | -36.39M |
| EBITDA Margin % | - | - | -6455.53% | - | - | - | - | - | - |
| EBITDA Growth % | -21.14% | -30.06% | -13.2% | -21.94% | 50.47% | -215.88% | 20.43% | 12.25% | - |
| D&A (Non-Cash Add-back) | 778K | 1.47M | 1.75M | 1.89M | 1.9M | 1.62M | 2.4M | 2.12M | 1.92M |
| EBIT | -73.45M | -66.49M | -49.38M | -42.49M | -36.87M | -81.81M | -27.81M | -34.05M | 0 |
| Net Interest Income | 7.64M | 6.35M | 7.3M | 7.9M | 0 | -341K | -820K | -485K | -104K |
| Interest Income | 7.64M | 6.35M | 7.3M | 7.9M | 2.36M | 29K | 88K | 743K | 663K |
| Interest Expense | 0 | 0 | 0 | 0 | 2.36M | 370K | 908K | 1.23M | 767K |
| Other Income/Expense | 7.64M | 6.35M | 7.25M | 7.87M | 2.43M | -299K | -1.66M | -601K | 233K |
| Pretax Income | -73.45M | -66.49M | -49.38M | -42.49M | -39.23M | -82.18M | -29.47M | -34.65M | -38.18M |
| Pretax Margin % | - | - | -5808.82% | - | - | - | - | - | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 32K | 91K | 103K |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | -0.11% | -0.26% | -0.27% |
| Net Income | -73.45M | -66.49M | -49.38M | -42.49M | -39.23M | -82.18M | -29.5M | -34.74M | -38.29M |
| Net Margin % | - | - | -5808.82% | - | - | - | - | - | - |
| Net Income Growth % | -18.41% | -34.66% | -16.19% | -8.33% | 52.27% | -178.58% | 15.09% | 9.25% | - |
| Net Income (Continuing) | -73.45M | -66.49M | -49.38M | -42.49M | -39.23M | -82.18M | -29.5M | -34.74M | -38.29M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.39 | -0.42 | -0.36 | -0.33 | -0.35 | -1.31 | -0.52 | -0.67 | -7.66 |
| EPS Growth % | 6.99% | -16.67% | -9.09% | 5.71% | 73.28% | -151.92% | 22.39% | 91.25% | - |
| EPS (Basic) | - | -0.42 | -0.36 | -0.33 | -0.35 | -1.31 | -0.52 | -0.67 | -7.66 |
| Diluted Shares Outstanding | 186.8M | 157.69M | 137.11M | 127.03M | 105.19M | 62.87M | 56.22M | 52.11M | 5M |
| Basic Shares Outstanding | 186.8M | 157.69M | 137.11M | 127.03M | 105.19M | 62.87M | 56.22M | 52.11M | 5M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying CMPX stock.
For fiscal year 2025, Compass Therapeutics, Inc. (CMPX) reported total revenue of $0.0M.
Compass Therapeutics, Inc. (CMPX) reported a net loss of $66.5M for the fiscal year ending 2025.
Key Metrics
Top Statement Risk
Clinical trial funding dependency
Metrics are mathematically derived from official filings.
Absence of Sustainable Revenue Streams
As indicated by the provided financial data, CMPX remains a pre-revenue entity, with the -100% revenue growth reported in 2025Q2 highlighting the total lack of commercial activity and the company's complete reliance on external capital to fund its ongoing clinical development programs.
The intermittent revenue recognition observed in 2024Q2 appears to be an outlier rather than a sign of recurring commercial success. Investors should interpret the current lack of top-line growth as a reflection of the company's status as a pure-play clinical-stage developer, where value is tied to binary clinical outcomes rather than operational scale.
R&D Intensity Drives Cash Burn
Based on reported figures, R&D expenditures consistently dominate the income statement, with quarterly costs frequently exceeding $13 million, which underscores the significant capital requirements necessary to advance the company's bispecific antibody pipeline through late-stage clinical trials without any offsetting commercial revenue.
The company's cost structure is heavily skewed toward R&D, which appears to be the primary driver of the persistent operating losses. Management's ability to maintain this level of investment is likely constrained by the current cash position, suggesting that future R&D intensity may be subject to significant volatility based on financing availability.
Non-Operating Items Obscure Operational Reality
According to the income statement analysis, the reported net losses are frequently impacted by stock-based compensation and other non-operating items, which complicates the assessment of the company's underlying operational efficiency and the true cash burn rate required to sustain its clinical research activities.
The discrepancy between operating income and net income suggests that investors should focus on cash flow metrics rather than GAAP earnings to gauge the company's financial health. The consistent use of stock-based compensation warrants further investigation to determine the extent of shareholder dilution relative to the progress of the clinical pipeline.
Capital Constraints Threaten Pipeline Continuity
Financial statements reveal a precarious cash position of $30.6 million, which, when measured against quarterly operating losses often exceeding $15 million, suggests that the company faces a high risk of near-term dilution or potential delays in its critical clinical trial enrollment timelines.
The current burn rate appears unsustainable without a significant capital infusion, which may force management to prioritize certain assets over others. This financial vulnerability could lead to a strategic pivot or a reduction in R&D scope, potentially undermining the long-term competitive advantage of the bispecific platform.