Revenue remains highly volatile and tethered to non-recurring milestones, with quarterly figures fluctuating between $2.0 million and $3.9 million while R&D expenses consistently exceed $20 million.
| Sales/Revenue | 11.2M | 11.16M | 9.99M | 34.48M | 13.85M | 9.6M | 12.36M | 5.79M |
| Revenue Growth % | 12.96% | 11.66% | -71.01% | 148.91% | 44.31% | -22.35% | 113.56% | - |
| Cost of Goods Sold | 649K | 3.65M | 3.93M | 3.52M | 3.64M | 984K | 34.42M | 0 |
| COGS % of Revenue | - | 32.66% | 39.29% | 10.22% | 26.29% | 10.25% | 278.5% | - |
| Gross Profit | 10.55M | 7.51M | 6.07M | 30.95M | 10.21M | 8.61M | -22.06M | 5.79M |
| Gross Margin % | 94.21% | 67.34% | 60.71% | 89.78% | 73.71% | 89.75% | -178.5% | 100% |
| Gross Profit Growth % | - | 23.85% | -80.4% | 203.15% | 18.53% | 139.04% | -481.2% | - |
| Operating Expenses | 142.26M | 143.71M | 172.68M | 147.01M | 116.61M | 75.59M | 14.06M | 40.09M |
| OpEx % of Revenue | - | 1287.82% | 1727.87% | 426.4% | 841.88% | 787.59% | 113.74% | 692.69% |
| Selling, General & Admin | 36.24M | 37.91M | 46.46M | 38.46M | 38.02M | 23.34M | 14.06M | 16.46M |
| SG&A % of Revenue | - | 339.76% | 464.85% | 111.56% | 274.49% | 243.15% | 113.74% | 284.35% |
| Research & Development | 94.52M | 109.44M | 130.15M | 112.08M | 82.23M | 52.26M | 34.42M | 23.64M |
| R&D % of Revenue | - | 980.72% | 1302.31% | 325.07% | 593.68% | 544.44% | 278.5% | 408.34% |
| Other Operating Expenses | 351K | -3.65M | -3.93M | -3.52M | -3.64M | 0 | -34.42M | 0 |
| Operating Income | -131.71M | -136.19M | -166.62M | -116.06M | -106.4M | -66.98M | -36.12M | -34.3M |
| Operating Margin % | -1175.68% | -1220.49% | -1667.16% | -336.63% | -768.17% | -697.84% | -292.24% | -592.69% |
| Operating Income Growth % | - | 18.26% | -43.56% | -9.08% | -58.85% | -85.41% | -5.3% | - |
| EBITDA | -128.58M | -132.55M | -162.69M | -112.53M | -102.76M | -66M | -35.22M | -33.55M |
| EBITDA Margin % | -1147.75% | -1187.82% | -1627.87% | -326.4% | -741.88% | -687.59% | -284.96% | -579.72% |
| EBITDA Growth % | 19.2% | 18.53% | -44.57% | -9.51% | -55.71% | -87.36% | -4.98% | - |
| D&A (Non-Cash Add-back) | 3.13M | 3.65M | 3.93M | 3.52M | 3.64M | 984K | 900K | 751K |
| EBIT | -119.56M | -136.19M | -166.62M | -116.06M | -99.35M | -66.59M | -36.11M | -30.96M |
| Net Interest Income | 0 | 8M | 0 | 10.7M | 4.6M | 140K | 216K | 1.04M |
| Interest Income | 0 | 8M | 0 | 10.7M | 4.6M | 148K | 236K | 1.05M |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 8K | 20K | 4K |
| Other Income/Expense | -2.06M | -12.48M | 17.5M | 14.18M | 7.05M | 377K | -3K | 3.34M |
| Pretax Income | -133.77M | -148.68M | -149.11M | -101.88M | -99.35M | -66.6M | -36.13M | -30.97M |
| Pretax Margin % | -1194.05% | -1332.33% | -1492.04% | -295.49% | -717.28% | -693.92% | -292.27% | -535.04% |
| Income Tax | -550K | -550K | -9K | 193K | 70K | 321K | -1.82M | -7.54M |
| Effective Tax Rate % | 0.41% | 0.37% | 0.01% | -0.19% | -0.07% | -0.48% | 5.04% | 24.34% |
| Net Income | -133.22M | -148.13M | -149.1M | -102.07M | -99.42M | -66.92M | -34.31M | -23.43M |
| Net Margin % | -1189.14% | -1327.4% | -1491.95% | -296.05% | -717.79% | -697.26% | -277.55% | -404.82% |
| Net Income Growth % | 9.9% | 0.66% | -46.08% | -2.66% | -48.56% | -95.07% | -46.42% | - |
| Net Income (Continuing) | -133.22M | -148.13M | -149.1M | -102.07M | -99.42M | -66.92M | -34.31M | -23.43M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.39 | -1.59 | -1.65 | -1.38 | -1.64 | -1.11 | -1.24 | -0.85 |
| EPS Growth % | 12.35% | 3.64% | -19.57% | 15.85% | -47.75% | 10.48% | -45.88% | - |
| EPS (Basic) | - | -1.59 | -1.65 | -1.38 | -1.64 | -1.11 | -1.24 | -0.85 |
| Diluted Shares Outstanding | 95.86M | 93.39M | 90.32M | 73.81M | 60.8M | 60.26M | 27.66M | 27.66M |
| Basic Shares Outstanding | 95.86M | 93.39M | 90.32M | 73.81M | 60.8M | 60.26M | 27.66M | 27.66M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
Imminent liquidity shortfall
As reported in financial statements, Caribou's revenue remains tethered to non-recurring collaboration milestones, with quarterly figures fluctuating between $2.0 million and $3.9 million, suggesting that the company has yet to establish a predictable or scalable commercial revenue stream independent of its primary partnership agreements.
The lack of consistent top-line growth reflects the company's status as a clinical-stage entity where revenue recognition is tied to project-based milestones rather than product adoption. Investors should monitor whether future collaboration agreements can provide more stable cash inflows, as the current reliance on sporadic milestone payments creates significant uncertainty regarding the company's long-term revenue trajectory.
Based on Caribou's reported figures, research and development expenses consistently dominate the cost structure, frequently exceeding $30 million per quarter, which highlights the substantial capital required to advance the company's proprietary chRDNA platform through the rigorous and costly clinical trial process.
The high concentration of spending in R&D is typical for early-stage biotechnology firms, yet it leaves little room for operational flexibility. The persistent nature of these costs suggests that management's expense discipline is secondary to the urgent requirement of meeting clinical trial milestones, which may continue to pressure the bottom line for the foreseeable future.
According to recent SEC filings, Caribou consistently utilizes stock-based compensation, with quarterly charges often exceeding $3 million, which effectively serves as a non-cash expense that obscures the true magnitude of the company's cash-based operational burn rate required to retain specialized scientific talent.
While stock-based compensation is a standard tool for talent retention in the competitive biotech sector, it warrants investigation as it dilutes existing shareholders without directly contributing to the company's immediate liquidity needs. Analysts should adjust for these non-cash charges to better understand the actual cash requirements necessary to sustain operations until a potential value-unlocking clinical event occurs.
With reported cash and equivalents of only $12.36 million, the company faces a precarious financial position, as the current quarterly operating loss trajectory suggests that existing capital may be insufficient to support ongoing clinical programs without immediate and potentially dilutive external financing or strategic intervention.
The disconnect between the company's massive operating losses and its limited cash reserves suggests that the current business model is unsustainable in its present form. Investors should be wary of the high probability of an imminent capital raise, which could significantly impact equity value and force a prioritization of clinical assets at the expense of long-term pipeline development.
Quick answers to the most common questions about buying CRBU stock.
For fiscal year 2025, Caribou Biosciences, Inc. (CRBU) reported total revenue of $11.2M. This represents a 92.8% increase compared to $5.8M in 2019.
Caribou Biosciences, Inc. (CRBU) reported a net loss of $148.1M for the fiscal year ending 2025.
Caribou Biosciences, Inc. (CRBU) reported an operating income of $-136.2M, resulting in an operating profit margin of -1220.5%. This margin reflects the operational efficiency of the business before interest and taxes.
Caribou Biosciences, Inc. (CRBU) generated $7.5M in gross profit for the year, representing a gross profit margin of 67.3%. This demonstrates the company's core pricing power and production efficiency.