The company lacks any meaningful commercial revenue, resulting in persistent quarterly operating losses that reached $10.6 million in 2026Q1 due to heavy R&D commitments.
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 28.31M | 2.88M | 1.49M | 4.03M | 6.58M | 7.3M |
| Revenue Growth % | - | - | - | - | -100% | 883.06% | 93.68% | -63.09% | -38.78% | -9.82% | - |
| Cost of Goods Sold | 289K | 1.13M | 1.18M | 1.17M | 1.06M | 1.23M | 1.82M | 1.14M | 380K | 3.17M | 3.67M |
| COGS % of Revenue | - | - | - | - | - | 4.36% | 63.13% | 76.4% | 9.43% | 48.22% | 50.34% |
| Gross Profit | -289K | -1.13M | -1.18M | -1.17M | -1.06M | 27.08M | 1.06M | 351K | 3.65M | 3.41M | 3.62M |
| Gross Margin % | - | - | - | - | - | 95.64% | 36.88% | 23.6% | 90.57% | 51.78% | 49.66% |
| Gross Profit Growth % | - | 4.24% | -0.68% | -10.69% | -103.9% | 2449.72% | 202.56% | -90.38% | 7.08% | -5.97% | - |
| Operating Expenses | 37.29M | 36.59M | 43.81M | 34.58M | 22.68M | 66.39M | 56.34M | 38.94M | 17.99M | 3.81M | 4.04M |
| OpEx % of Revenue | - | - | - | - | - | 234.48% | 1956.08% | 2618.83% | 446.54% | 57.82% | 55.4% |
| Selling, General & Admin | 13.7M | 12.81M | 11.33M | 11.9M | 5.63M | 17.78M | 17.46M | 9.15M | 8.84M | 3.61M | 4.04M |
| SG&A % of Revenue | - | - | - | - | - | 62.79% | 606.11% | 615.67% | 219.41% | 54.84% | 55.4% |
| Research & Development | 23.84M | 24.9M | 33.66M | 22.68M | 17.05M | 48.61M | 38.88M | 29.79M | 9.15M | 196.01K | 0 |
| R&D % of Revenue | - | - | - | - | - | 171.68% | 1349.97% | 2003.16% | 227.13% | 2.98% | - |
| Other Operating Expenses | -243K | -1.13M | -1.18M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -37.58M | -37.71M | -44.99M | -35.74M | -23.73M | -39.31M | -55.27M | -38.59M | -14.34M | -397.8K | -419.22K |
| Operating Margin % | - | - | - | - | - | -138.84% | -1919.2% | -2595.23% | -355.97% | -6.04% | -5.74% |
| Operating Income Growth % | - | 16.16% | -25.85% | -50.61% | 39.62% | 28.89% | -43.23% | -169.08% | -3505.33% | 5.11% | - |
| EBITDA | -36.44M | -36.59M | -43.81M | -34.58M | -22.68M | -38.51M | -54.65M | -38.09M | -14.34M | 62.54K | 44K |
| EBITDA Margin % | - | - | - | - | - | -136.01% | -1897.4% | -2561.87% | -355.92% | 0.95% | 0.6% |
| EBITDA Growth % | 17.77% | 16.49% | -26.7% | -52.47% | 41.11% | 29.53% | -43.44% | -165.66% | -23027.86% | 42.16% | - |
| D&A (Non-Cash Add-back) | 1.14M | 1.13M | 1.18M | 1.17M | 1.06M | 801K | 628K | 496K | 2K | 460.34K | 463.22K |
| EBIT | -38.01M | -37.71M | -51.44M | -34.14M | -24.61M | -52.73M | -71.26M | -40.66M | -20.02M | 2.03M | 1.5M |
| Net Interest Income | -641K | -357K | 322K | -686K | -3.53M | -873.05K | -8.85M | 81.48K | 0 | 0 | 0 |
| Interest Income | 723K | 776K | 777K | 373K | 64.83K | 3.39K | 0 | 81.48K | 252K | 0 | 0 |
| Interest Expense | 1.36M | 1.13M | 455K | 1.06M | 3.6M | 876.44K | 8.85M | 0 | 0 | 300.43K | 307.45K |
| Other Income/Expense | -2.6M | -1.86M | -6.91M | 550K | -4.47M | -15.27M | -24.83M | -2.07M | -5.68M | 2.13M | 1.61M |
| Pretax Income | -40.19M | -39.57M | -51.9M | -35.2M | -28.21M | -54.57M | -80.11M | -40.66M | -20.02M | 1.73M | 1.19M |
| Pretax Margin % | - | - | - | - | - | -192.76% | -2781.49% | -2734.23% | -497.02% | 26.32% | 16.36% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 452.78K | 201.86K |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 26.14% | 16.91% |
| Net Income | -40.19M | -39.57M | -51.9M | -35.2M | -28.21M | -26.4M | -80.11M | -40.66M | -20.02M | 632.24K | 307.3K |
| Net Margin % | - | - | - | - | - | -93.25% | -2781.49% | -2734.23% | -497.02% | 9.61% | 4.21% |
| Net Income Growth % | 21.64% | 23.75% | -47.46% | -24.77% | -6.85% | 67.04% | -97.03% | -103.04% | -3267.3% | 105.74% | - |
| Net Income (Continuing) | -40.19M | -39.57M | -51.9M | -35.2M | -28.21M | -54.57M | -80.11M | -40.66M | -20.02M | 1.28M | 992.12K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.12M | 2.53M |
| EPS (Diluted) | -2.21 | -2.58 | -4.25 | -6.96 | -9.10 | -19.32 | -1.93 | -1.50 | -6.79 | 103.31 | 50.21 |
| EPS Growth % | 41.73% | 39.29% | 38.94% | 23.52% | 52.9% | -901.04% | -28.67% | 77.91% | -106.57% | 105.76% | - |
| EPS (Basic) | - | -2.58 | -4.25 | -6.96 | -9.10 | -19.32 | -1.93 | -1.50 | -6.79 | 103.31 | 50.21 |
| Diluted Shares Outstanding | 18.21M | 15.31M | 12.2M | 5.06M | 3.1M | 3.2M | 8.15M | 8.15M | 2.95M | 6.12K | 6.12K |
| Basic Shares Outstanding | 18.21M | 15.31M | 12.2M | 5.06M | 3.1M | 3.2M | 8.15M | 8.15M | 2.95M | 6.12K | 6.12K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - |
Imminent liquidity and dilution
As reported in recent financial filings, ELTX maintains a high-cost structure dominated by R&D expenditures, which reached $6.7 million in 2026Q1, reflecting the company's singular focus on advancing its AMP-modified clinical candidates through intensive trial site and laboratory operations without any offsetting commercial revenue streams.
The company's cost structure is entirely front-loaded, with R&D spending consistently dwarfing SG&A expenses. This pattern suggests that management is prioritizing clinical milestones over operational efficiency, a necessary trade-off for a pre-revenue entity, though it leaves the income statement highly sensitive to trial-related cost overruns.
Based on historical income statements, ELTX's net loss figures are frequently distorted by non-cash items and reverse merger accounting adjustments, as evidenced by the volatility in quarterly net income which fluctuated between -$7.2 million and -$18.8 million over the last ten reported periods.
Investors should look past the headline net loss, which is heavily influenced by stock-based compensation and valuation adjustments from the Angion Biomedica merger. A more accurate assessment of the company's health requires focusing on the underlying cash burn, which remains the primary indicator of the firm's runway.
According to the provided quarterly data, ELTX exhibits no operating leverage, as the company continues to generate negative gross profit in periods where COGS are recorded, while operating losses remain persistently elevated near the $10 million mark per quarter due to fixed R&D commitments.
The lack of revenue means that every dollar spent on R&D or SG&A flows directly to the bottom line as a loss. Until the company can transition to a partnership model or commercialize its AMP platform, there is no mechanism for operating leverage to manifest in the current income statement.
Based on reported figures showing cash and equivalents of approximately $18.5 million, the company faces a precarious financial position, as the current quarterly burn rate suggests that existing capital may be exhausted within the next twelve months, necessitating immediate and likely dilutive financing actions.
Short-term viability is the primary concern for any analyst reviewing these financials, as the absence of revenue leaves the company entirely dependent on external capital markets. The market may be correctly pricing in a significant equity dilution event, which would fundamentally alter the per-share value proposition for existing investors.
Quick answers to the most common questions about buying ELTX stock.
For fiscal year 2025, Elicio Therapeutics, Inc. (ELTX) reported total revenue of $0.0M. This represents a 100.0% decline compared to $7.3M in 2012.
Elicio Therapeutics, Inc. (ELTX) reported a net loss of $39.6M for the fiscal year ending 2025.