The company exhibits no operating leverage, having generated zero revenue over the last ten quarters while maintaining quarterly R&D and SG&A expenses that consistently exceed $1.5 million.
Enveric Biosciences, Inc. (ENVB) annual income statement — 30-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 39.91M | 43M | 48.59M | 36.15M | 15.98M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 750.71K | 333.2K | 1.19M | 1.11M | 1.27M | 1.86M | 1.6M | 2.2M | 1.66M | 1.68M | 2.78M | 2.02M |
| Revenue Growth % | - | - | - | - | - | - | -100% | -7.17% | -11.51% | 34.44% | 126.24% | - | - | - | - | - | - | - | -100% | 125.3% | -72.06% | 7.82% | -12.87% | -31.61% | 15.72% | -27.16% | 32.61% | -1.15% | -39.61% | 37.4% | 68.68% |
| Cost of Goods Sold | 153.92K | 200.86K | 337.49K | 408.03K | 435.2K | 681.61K | 120.87K | 31.76M | 34.01M | 38.36M | 29.61M | 10.23M | 0 | 0 | 22.69K | 31.39K | 0 | 0 | 0 | 63.27K | 897 | 106.06K | 111.39K | 122.42K | 130.52K | 96.78K | 162.25K | 48.78K | 134.19K | 229.74K | 185.54K |
| COGS % of Revenue | - | - | - | - | - | - | - | 79.58% | 79.11% | 78.93% | 81.92% | 64% | - | - | - | - | - | - | - | 8.43% | 0.27% | 8.89% | 10.07% | 9.64% | 7.03% | 6.03% | 7.37% | 2.94% | 7.99% | 8.26% | 9.17% |
| Gross Profit | -153.92K | -200.86K | -337.49K | -408.03K | -435.2K | -681.61K | -120.87K | 8.15M | 8.98M | 10.24M | 6.54M | 5.75M | 0 | 0 | -22.69K | -31.39K | 0 | 0 | 0 | 687.44K | 332.3K | 1.09M | 994.53K | 1.15M | 1.73M | 1.51M | 2.04M | 1.61M | 1.55M | 2.55M | 1.84M |
| Gross Margin % | - | - | - | - | - | - | - | 20.42% | 20.89% | 21.07% | 18.08% | 36% | - | - | - | - | - | - | - | 91.57% | 99.73% | 91.11% | 89.93% | 90.36% | 92.97% | 93.97% | 92.63% | 97.06% | 92.01% | 91.74% | 90.83% |
| Gross Profit Growth % | - | 40.48% | 17.29% | 6.24% | 36.15% | -463.91% | -101.48% | -9.27% | -12.25% | 56.62% | 13.66% | - | - | 100% | 27.73% | - | - | - | -100% | 106.87% | -69.41% | 9.24% | -13.28% | -33.53% | 14.49% | -26.11% | 26.56% | 4.27% | -39.43% | 38.77% | 53.22% |
| Operating Expenses | 8.57M | 8.57M | 9.29M | 16.04M | 19.53M | 25.26M | 5.5M | 14.48M | 13.7M | 21.73M | 10.33M | 5.97M | 32.81K | 27.21K | 22.69K | 31.39K | 35.88K | 55.57K | 151.44K | 433.67K | 685.85K | 1.18M | 1.15M | 1.63M | 1.71M | 1.82M | 1.68M | 1.16M | 3.49M | 7.24M | 27.04M |
| OpEx % of Revenue | - | - | - | - | - | - | - | 36.27% | 31.86% | 44.71% | 28.58% | 37.34% | - | - | - | - | - | - | - | 57.77% | 205.84% | 98.68% | 103.65% | 128.47% | 92.2% | 113.65% | 76.37% | 69.63% | 207.76% | 260.24% | 1335.96% |
| Selling, General & Admin | 6.1M | 5.79M | 6.45M | 8.79M | 11.5M | 20.47M | 5.32M | 12.21M | 10.79M | 18.51M | 8.97M | 5.81M | 32.81K | 27.21K | 22.69K | 31.39K | 35.88K | 55.57K | 151.44K | 433.67K | 528.11K | 822.6K | 753.3K | 1.17M | 1.28M | 1.18M | 1.06M | 772.86K | 2.73M | 3.53M | 4.28M |
| SG&A % of Revenue | - | - | - | - | - | - | - | 30.59% | 25.11% | 38.09% | 24.82% | 36.35% | - | - | - | - | - | - | - | 57.77% | 158.49% | 68.98% | 68.12% | 92.31% | 68.88% | 73.8% | 47.92% | 46.55% | 162.76% | 126.92% | 211.63% |
| Research & Development | 2.48M | 2.78M | 2.84M | 7.25M | 8.03M | 4.79M | 174.08K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 157.74K | 354.14K | 393K | 458.94K | 432.83K | 639.22K | 540.27K | 383.18K | 755.9K | 3.71M | 2.54M |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 47.34% | 29.7% | 35.54% | 36.16% | 23.32% | 39.86% | 24.54% | 23.08% | 45% | 133.32% | 125.49% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.27M | 88.16K | 1.08M | -394.21K | 157.94K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 85.97K | 0 | 0 | 0 | 20.22M |
| Operating Income | -8.73M | -8.77M | -9.63M | -16.45M | -19.96M | -25.94M | -5.62M | -6.32M | -7.15M | -11.97M | -5.38M | -1.87M | -32.81K | -27.21K | -22.69K | -31.39K | -35.88K | -55.57K | -151.44K | 253.77K | -353.54K | -90.35K | -151.78K | -483.79K | 14.23K | -315.77K | 358.13K | 455.56K | -1.94M | -4.69M | -25.2M |
| Operating Margin % | - | - | - | - | - | - | - | -15.85% | -16.62% | -24.63% | -14.88% | -11.71% | - | - | - | - | - | - | - | 33.8% | -106.1% | -7.58% | -13.72% | -38.11% | 0.77% | -19.69% | 16.27% | 27.44% | -115.75% | -168.5% | -1245.13% |
| Operating Income Growth % | - | 8.91% | 41.44% | 17.6% | 23.06% | -361.87% | 11.19% | 11.5% | 40.3% | -122.51% | -187.59% | -5601.33% | -20.58% | -19.93% | 27.73% | 12.49% | 35.44% | 63.31% | -159.68% | 171.78% | -291.3% | 40.47% | 68.63% | -3500.25% | 104.51% | -188.17% | -21.39% | 123.43% | 58.51% | 81.41% | -663.75% |
| EBITDA | -8.57M | -8.57M | -9.29M | -16.04M | -19.53M | -25.26M | -5.5M | -4.06M | -4.24M | -8.75M | -4.02M | -1.71M | -32.81K | -27.21K | -22.69K | -31.39K | -35.88K | -55.57K | -151.44K | -261.31K | -316.31K | -42.92K | -92.92K | -400.88K | 119.73K | -176.64K | 444.1K | 559.12K | -1.82M | -4.28M | -25.07M |
| EBITDA Margin % | - | - | - | - | - | - | - | -10.17% | -9.87% | -18.01% | -11.12% | -10.72% | - | - | - | - | - | - | - | -34.81% | -94.93% | -3.6% | -8.4% | -31.58% | 6.45% | -11.01% | 20.17% | 33.67% | -108.23% | -153.86% | -1238.7% |
| EBITDA Growth % | 11.38% | 7.76% | 42.05% | 17.85% | 22.71% | -359.62% | -35.39% | 4.32% | 51.53% | -117.82% | -134.64% | -5119.97% | -20.58% | -19.93% | 27.73% | 12.49% | 35.44% | 63.31% | 42.04% | 17.39% | -637% | 53.81% | 76.82% | -434.82% | 167.78% | -139.77% | -20.57% | 130.76% | 57.52% | 82.93% | -637.46% |
| D&A (Non-Cash Add-back) | 153.92K | 200.86K | 337.49K | 408.03K | 435.2K | 681.61K | 120.87K | 2.27M | 2.9M | 3.22M | 1.36M | 157.94K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -515.08K | 37.23K | 47.43K | 58.86K | 82.9K | 105.5K | 139.13K | 85.97K | 103.56K | 126.33K | 407.24K | 130.06K |
| EBIT | -8.73M | -8.77M | -9.57M | -17.26M | -19.95M | -56.42M | -6.42M | -4.52M | -9.82M | -10.89M | -5.77M | -704.06K | -32.81K | 1.29K | -22.69K | -31.39K | -35.88K | -55.57K | -138.79K | -210.35K | -353.54K | -90.35K | -151.78K | -483.79K | 14.23K | -315.77K | 358.13K | 455.56K | -1.94M | -4.69M | -25.2M |
| Net Interest Income | -571 | -106 | 219 | -3.71K | -5.24K | -10.31K | -444.81K | -691.14K | -729.9K | -575.04K | -751.07K | -148.55K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4.46K | 7.96K | 0 | -6.25K | 0 | 0 | 30.75K | 0 | 0 | 0 | 0 |
| Interest Income | 274 | 0 | 219 | 0 | 5 | 10 | 445 | 0 | 0 | 0 | 0 | 89.92K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6.73K | 13.23K | 0 | 7.2K | 0 | 0 | 64.86K | 0 | 0 | 0 | 0 |
| Interest Expense | 845 | 106 | 0 | 3.71K | 5.25K | 10.32K | 445.25K | 691.14K | 729.9K | 575.04K | 751.07K | 238.47K | 0 | 0 | 0 | 0 | 0 | 0 | -12.65K | 0 | 2.27K | 5.27K | 5.31K | 13.45K | 2.01K | 0 | 34.11K | 89.46K | 3.86M | 0 | 0 |
| Other Income/Expense | -569 | 2.46K | 66.21K | -814.38K | 4.05K | -30.49M | -1.25M | 1.11M | -10.55M | -11.47M | -2.73M | -1.23M | 0 | 28.5K | 22.69K | 0 | 0 | 0 | 12.65K | 553.51K | 5.71K | 7.96K | -5.31K | -6.25K | -2.04K | 72.8K | 33.88K | -94.26K | -3.81M | 27.29K | 119.11K |
| Pretax Income | -8.73M | -8.77M | -9.57M | -17.26M | -19.96M | -56.43M | -6.86M | -5.22M | -10.55M | -11.47M | -6.53M | -2.02M | -32.81K | 1.29K | -22.69K | -31.39K | -35.88K | -55.57K | -138.79K | 807.28K | -347.83K | -82.39K | -157.09K | -490.03K | 12.19K | -242.97K | 392.02K | 361.29K | -5.75M | -4.66M | -25.08M |
| Pretax Margin % | - | - | - | - | - | - | - | -13.07% | -24.53% | -23.6% | -18.05% | -12.64% | - | - | - | - | - | - | - | 107.54% | -104.39% | -6.91% | -14.2% | -38.61% | 0.66% | -15.15% | 17.8% | 21.76% | -342.55% | -167.52% | -1239.24% |
| Income Tax | 0 | 3.36M | 8.93K | 28.91K | -1.49M | -7.45M | 0 | 388.66K | 6.35M | -2.39M | -3.75M | -128.46K | 833 | 1.45K | 1.93K | 1.99K | 3.57K | 2.98K | 4.84K | 0 | 4.8K | -874 | 400 | 5.42K | -6.1K | -2.87K | 10K | 0 | 38.24K | 60.7K | 310.54K |
| Effective Tax Rate % | 0% | -38.3% | -0.09% | -0.17% | 7.45% | 13.21% | 0% | -7.45% | -60.18% | 20.86% | 57.44% | 6.36% | -2.54% | 112.49% | -8.51% | -6.32% | -9.94% | -5.35% | -3.49% | 0% | -1.38% | 1.06% | -0.25% | -1.11% | -50.03% | 1.18% | 2.55% | 0% | -0.66% | -1.3% | -1.24% |
| Net Income | -8.73M | -12.13M | -9.57M | -17.29K | -18.5M | -48.98M | -6.86M | -5.6M | -16.9M | -9.07M | -2.78M | -1.89M | -33.64K | -161 | -24.62K | -33.38K | -39.44K | -58.54K | -143.64K | 807.28K | -352.63K | -81.52K | -157.49K | -495.45K | 18.29K | -240.11K | 382.02K | 354.79K | -5.79M | -4.72M | -25.4M |
| Net Margin % | - | - | - | - | - | - | - | -14.04% | -39.3% | -18.67% | -7.69% | -11.83% | - | - | - | - | - | - | - | 107.54% | -105.83% | -6.84% | -14.24% | -39.03% | 0.99% | -14.97% | 17.35% | 21.37% | -344.82% | -169.7% | -1254.59% |
| Net Income Growth % | 12.21% | -26.7% | -55273.21% | 99.91% | 62.22% | -613.46% | -22.5% | 66.84% | -86.2% | -226.35% | -47.07% | -5519.9% | -20796.89% | 99.35% | 26.24% | 15.37% | 32.63% | 59.24% | -117.79% | 328.93% | -332.59% | 48.24% | 68.21% | -2808.58% | 107.62% | -162.85% | 7.67% | 106.13% | -22.72% | 81.41% | -693.6% |
| Net Income (Continuing) | -8.73M | -12.13M | -9.57M | -17.29M | -18.47M | -48.98M | -6.86M | -5.6M | -16.9M | -9.07M | -2.78M | -2.52M | -33.64K | -161 | -24.62K | -33.38K | -39.44K | -58.54K | -143.64K | 807.28K | -352.63K | -81.52K | -157.49K | -495.45K | 18.29K | -240.11K | 382.02K | 361.29K | -2.05M | -4.72M | -25.4M |
| Discontinued Operations | 0 | 0 | 0 | 19.04K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 885.03K | 0 | 0 | 0 | 0 | 0 | 3.38K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -2.19 | -36.24 | -228.48 | -97.08 | -156.00 | -1244.28 | -666.00 | -2543.88 | -42616.68 | -36347.76 | -12770.04 | -10220.28 | -2307.00 | -14.16 | -2156.64 | -2923.80 | -6483.48 | -9623.64 | -23611.44 | 132696.00 | -76936.56 | -17785.08 | -35658.12 | -112178.04 | 4141.56 | -54363.84 | 86494.92 | 81875.04 | -999999.00 | -999999.00 | -999999.00 |
| EPS Growth % | 99.89% | 84.14% | -135.35% | 37.77% | 87.46% | -86.83% | 73.82% | 94.03% | -17.25% | -184.63% | -24.95% | -343.01% | -16192.37% | 99.34% | 26.24% | 54.9% | 32.63% | 59.24% | -117.79% | 272.47% | -332.59% | 50.12% | 68.21% | -2808.59% | 107.62% | -162.85% | 5.64% | 103.65% | 4.99% | 83.74% | -618.02% |
| EPS (Basic) | - | -36.24 | -228.48 | -97.08 | -87.72 | -1244.28 | -666.00 | -2543.88 | -42616.68 | -36347.76 | -12770.04 | -10272.72 | -2307.00 | -14.16 | -2156.64 | -2923.80 | -6483.48 | -9623.64 | -23611.44 | 132696.00 | -76936.56 | -17785.08 | -35658.12 | -112178.04 | 4141.56 | -54363.84 | 86494.92 | 81875.04 | -999999.00 | -999999.00 | -999999.00 |
| Diluted Shares Outstanding | 3.99M | 334.72K | 41.91K | 179.92K | 173.19K | 39.36K | 9.59K | 2.2K | 396 | 250 | 218 | 185 | 110 | 110 | 110 | 110 | 110 | 110 | 110 | 110 | 110 | 110 | 110 | 110 | 110 | 110 | 110 | 110 | 110 | 110 | 110 |
| Basic Shares Outstanding | 3.99M | 334.72K | 41.91K | 210.63K | 210.63K | 39.36K | 9.59K | 2.2K | 396 | 250 | 218 | 198 | 110 | 110 | 110 | 110 | 110 | 110 | 110 | 110 | 110 | 110 | 110 | 110 | 110 | 110 | 110 | 110 | 110 | 110 | 110 |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying ENVB stock.
For fiscal year 2025, Enveric Biosciences, Inc. (ENVB) reported total revenue of $0.0M. This represents a 100.0% decline compared to $2.0M in 1996.
Enveric Biosciences, Inc. (ENVB) reported a net loss of $12.1M for the fiscal year ending 2025.
Key Metrics
Top Statement Risk
Liquidity and dilution risk
Metrics are mathematically derived from official filings.
Persistent R&D and SG&A Overhang
As reported in financial statements, Enveric Biosciences continues to operate without revenue, with quarterly R&D and SG&A expenses consistently exceeding $1.5 million, which underscores the significant capital intensity required to maintain its synthetic chemistry platform and support ongoing pre-clinical development efforts for its proprietary Psybrary assets.
The company's cost structure remains heavily weighted toward operational overhead rather than revenue-generating activities. Investors should note that the lack of top-line growth, combined with persistent quarterly losses, suggests that the firm's current expense discipline is entirely focused on survival and asset validation rather than commercial scaling.
Operating Leverage Remains Non-Existent
Based on the provided income statement data, Enveric Biosciences exhibits no operating leverage, as the company has failed to generate any revenue over the last ten quarters while maintaining a high fixed-cost base that consistently results in significant quarterly operating losses and negative net income margins.
The absence of revenue means that every dollar spent on R&D and SG&A directly impacts the bottom line without the benefit of scale. This dynamic implies that the company remains in a purely speculative phase where operational efficiency is secondary to the binary outcome of its drug discovery pipeline.
Dilution Risks and Earnings Volatility
According to recent SEC filings, the company's earnings quality is severely impacted by significant stock-based compensation and extreme EPS volatility, which reflects the ongoing reliance on equity-based financing to sustain operations in the absence of any meaningful product-related revenue or sustainable cash flow generation.
The erratic EPS figures, including extreme fluctuations observed in early 2025, suggest that shareholders face substantial dilution risks as the company attempts to fund its research pipeline. Analysts should monitor the impact of these non-cash expenses on the overall capital structure, as they may mask the true cost of talent retention.
Sustainability of Current Cash Runway
As indicated by the reported cash balance of approximately $4.6 million, the company faces a precarious financial position that warrants further investigation into its ability to fund operations beyond the near term without resorting to additional dilutive financing or securing a strategic licensing partnership for its assets.
Short-sellers would likely focus on the rapid depletion of cash reserves relative to the company's high burn rate. This suggests that the firm's primary risk is not just clinical failure, but the potential inability to maintain its research platform long enough to reach a value-inflection milestone.