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EQ logoEquillium, Inc.(EQ)Earnings, Financials & Key Ratios

EQ•NASDAQ
Price updated Jun 11, 2026
SectorHealthcareIndustryBiotechnologySub-IndustryImmunology and Inflammation Therapies
AboutEquillium, Inc., a clinical-stage biotechnology company, develops and sells products to treat severe autoimmune and inflammatory, or immuno-inflammatory disorders with unmet medical need. The company's lead product candidate is itolizumab (EQ001), a clinical-stage monoclonal antibody that targets the novel immune checkpoint receptor CD6, which is in Phase III clinical trials for the treatment of acute graft-versus-host disease; completed Phase Ib clinical trial for the treatment of asthma disease; and Phase Ib clinical trial for the treatment of and lupus nephritis. It also develops EQ101 for treatment of cutaneous T cell lymphoma and alopecia areata; and EQ102 to treat various gastrointestinal diseases. The company was formerly known as Attenuate Biopharmaceuticals, Inc. and changed its name to Equillium, Inc. in May 2017. Equillium, Inc. was incorporated in 2017 and is headquartered in La Jolla, California.Show more
  • Revenue$0-100.0%
  • EBITDA-$24M-189.2%
  • Net Income-$22M-177.6%
  • EPS (Diluted)-0.39-69.6%
  • ROE-93.99%-142.6%
  • ROIC-8884.96%-1003.9%
  • Debt/Equity0.03+24.8%

EQ Key Insights

Equillium, Inc. (EQ) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Momentum leader: RS Rating 96 (top 4%)

✗Weaknesses

  • ✗Weak Piotroski F-Score: 1/9
  • ✗Shares diluted 100.0% in last year
  • ✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

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EQ Price & Volume

Equillium, Inc. (EQ) stock price & volume — 10-year historical chart

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EQ Growth Metrics

Equillium, Inc. (EQ) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years-
3 Years-
TTM-100%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM-36.23%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM2.87%

Return on Capital

10 Years-52.26%
5 Years-65.81%
3 Years-59.71%
Last Year-98.06%

EQ Recent Earnings

Equillium, Inc. (EQ) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 9/12 qtrs (75%)●Beat Revenue 5/12 qtrs (83%)
Q2 2026Latest
May 13, 2026
EPS
$0.06
Est $0.04
-50.0%
Revenue
—
Q2 2026
Mar 25, 2026
EPS
$0.04
Est $0.07
+42.9%
Revenue
—
Q4 2025
Nov 13, 2025
EPS
$0.06
Est $0.14
+57.1%
Revenue
—
Q3 2025
Aug 14, 2025
EPS
$0.16
Est $0.14
-14.3%
Revenue
—
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 13, 2026
$0.06vs $0.04-50.0%
—
Q2 2026Mar 25, 2026
$0.04vs $0.07+42.9%
—
Q4 2025Nov 13, 2025
$0.06vs $0.14+57.1%
—
Q3 2025Aug 14, 2025
$0.16vs $0.14-14.3%
—
Based on last 12 quarters of dataView full earnings history →

EQ Peer Comparison

Equillium, Inc. (EQ) competitors in Immunology and Inflammation Therapies — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
Institutional Holdings
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
IMVT logoIMVTImmunovant, Inc.Direct Competitor6.75B32.88-11.87-68.16%0.00
ARQT logoARQTArcutis Biotherapeutics, Inc.Direct Competitor3.08B24.59-189.1591.34%-0.57%-1.41%0.03
CABA logoCABACabaletta Bio, Inc.Direct Competitor490.79M3.01-1.84-131.58%0.24
KMDA logoKMDAKamada Ltd.Direct Competitor429.18M7.4420.1112.12%11.21%7.73%0.04
RAPT logoRAPTRAPT Therapeutics, Inc.Direct Competitor295.54M58.01-2.28-61.81%0.02
TGTX logoTGTXTG Therapeutics, Inc.Direct Competitor7.36B48.0517.3587.32%65.95%87.36%0.40
RXST logoRXSTRxSight, Inc.Product Competitor198.7M4.80-5.05-3.89%-36.58%-17.01%0.04
ACLX logoACLXArcellx, Inc.Product Competitor6.73B115.07-28.27-79.35%-10.27%-55.42%0.24

Compare EQ vs Peers

Equillium, Inc. (EQ) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs IMVT

Most directly comparable listed peer for EQ.

Scale Benchmark

vs ABBV

Larger-name benchmark to compare EQ against a more recognizable public peer.

Peer Set

Compare Top 5

vs IMVT, ARQT, CABA, KMDA

EQ Income Statement

Equillium, Inc. (EQ) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Sales/Revenue
0000015.76M36.08M41.09M00
Revenue Growth %
------128.97%13.89%-100%-100%
Cost of Goods Sold
1226.1K23K45K0000116K79K
COGS % of Revenue
----------
Gross Profit
-122▲ 0%
-6.1K▼ 4901.6%
-23K▼ 276.9%
-45K▼ 95.7%
0▲ 100.0%
15.76M▲ 0%
36.08M▲ 129.0%
41.09M▲ 13.9%
-116K▼ 100.3%
-79K▲ 0%
Gross Margin %
-----100%100%100%--
Gross Profit Growth %
--4901.64%-276.93%-95.65%100%-128.97%13.89%-100.28%-
Operating Expenses
1.71M8.62M26.73M29.5M37.79M77.83M50.61M49.36M23.63M20.3M
OpEx % of Revenue
-----493.91%140.25%120.12%--
Selling, General & Admin
378.21K3.67M9.09M10.12M11.41M17.24M13.57M11.94M10.79M10.46M
SG&A % of Revenue
-----109.39%37.6%29.04%--
Research & Development
1.33M4.94M17.64M19.38M26.38M37.55M37.04M37.43M12.84M9.91M
R&D % of Revenue
-----238.26%102.65%91.08%--
Other Operating Expenses
0000023.05M000-79K
Operating Income
-1.71M▲ 0%
-8.62M▼ 403.2%
-26.73M▼ 210.2%
-29.55M▼ 10.6%
-37.79M▼ 27.9%
-62.08M▼ 64.3%
-14.52M▲ 76.6%
-8.27M▲ 43.1%
-23.63M▼ 185.8%
-20.38M▲ 0%
Operating Margin %
------393.91%-40.24%-20.12%--
Operating Income Growth %
--403.2%-210.24%-10.55%-27.88%-64.28%76.61%43.06%-185.81%-
EBITDA
-1.71M-8.61M-26.7M-29.5M-37.71M-61.96M-14.4M-8.13M-23.52M-20.27M
EBITDA Margin %
------393.16%-39.9%-19.79%--
EBITDA Growth %
--402.88%-210.19%-10.48%-27.83%-64.28%76.76%43.51%-189.2%-42.64%
D&A (Non-Cash Add-back)
1226.1K23K45K72K118K126K137K116K107K
EBIT
-1.88M-10.69M-25.32M-28.71M-37.98M-61.38M-12.26M-7.71M-23.63M-20.38M
Net Interest Income
0-2.22M1.11M-623K-1.02M-633K1.84M1.38M833K969K
Interest Income
0339.62K1.39M476K57K420K2.33M1.38M833K969K
Interest Expense
379.38K2.56M279K1.1M1.07M1.05M491K000
Other Income/Expense
-549.82K-4.63M1.13M-265K-1.27M-352K1.77M563K1.24M1.32M
Pretax Income
-2.26M▲ 0%
-13.25M▼ 485.8%
-25.6M▼ 93.2%
-29.81M▼ 16.5%
-39.05M▼ 31.0%
-62.43M▼ 59.9%
-12.76M▲ 79.6%
-7.71M▲ 39.6%
-22.4M▼ 190.7%
-19.05M▲ 0%
Pretax Margin %
------396.14%-35.35%-18.75%--
Income Tax
-2140.51K0000580K361K00
Effective Tax Rate %
0%-1.06%0%0%0%0%-4.55%-4.68%0%0%
Net Income
-2.26M▲ 0%
-13.25M▼ 485.8%
-25.58M▼ 93.0%
-29.81M▼ 16.6%
-38.98M▼ 30.7%
-62.43M▼ 60.2%
-13.34M▲ 78.6%
-8.07M▲ 39.5%
-22.4M▼ 177.6%
-19.05M▲ 0%
Net Margin %
------396.14%-36.96%-19.63%--
Net Income Growth %
--485.8%-93.03%-16.56%-30.75%-60.15%78.64%39.51%-177.65%-36.23%
Net Income (Continuing)
-2.26M-13.25M-25.6M-29.81M-39.05M-62.43M-13.34M-8.07M-22.4M-19.05M
Discontinued Operations
0000000000
Minority Interest
0000000000
EPS (Diluted)
-0.19▲ 0%
-1.09▼ 473.7%
-1.47▼ 34.9%
-1.46▲ 0.7%
-1.35▲ 7.5%
-3.19▼ 136.3%
-0.38▲ 88.1%
-0.23▲ 39.5%
-0.39▼ 69.6%
-0.20▲ 0%
EPS Growth %
--473.68%-34.86%0.68%7.53%-136.3%88.09%39.47%-69.57%2.87%
EPS (Basic)
-0.13-1.09-1.47-1.46-1.35-3.19-0.38-0.23-0.39-
Diluted Shares Outstanding
11.68M12.19M17.38M20.36M28.81M33.73M34.73M35.36M91.88M96.28M
Basic Shares Outstanding
11.68M12.19M17.38M20.36M28.81M33.73M34.73M35.36M91.88M96.28M
Dividend Payout Ratio
----------

EQ Balance Sheet

Equillium, Inc. (EQ) balance sheet — assets, liabilities & shareholders' equity

MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Current Assets
7.15M67.16M55.54M85.17M83.37M76.73M49.35M24.98M30.28M62.27M
Cash & Short-Term Investments
7.1M65.91M53.14M82.16M80.71M71.02M40.87M22.57M30.28M61.32M
Cash Only
7.1M28.51M13.22M23.98M50.37M59.11M23.22M18.09M30.28M61.32M
Short-Term Investments
037.4M39.92M58.18M30.34M11.92M17.65M4.49M00
Accounts Receivable
000004.11M6.29M1.14M108K0
Days Sales Outstanding
-----95.2663.5810.16--
Inventory
0000000000
Days Inventory Outstanding
----------
Other Current Assets
000008K235K429K-547K953K
Total Non-Current Assets
2.08K63.52K108K254K2.04M1.69M1.18M626K658K808K
Property, Plant & Equipment
2.08K63.52K93K239K1.88M1.58M1.11M626K658K781K
Fixed Asset Turnover
-----9.96x32.48x65.65x-0.00x
Goodwill
0000000000
Intangible Assets
0000000000
Long-Term Investments
0000000000
Other Non-Current Assets
00-93K15K153K104K70K0027K
Total Assets
7.15M▲ 0%
67.16M▲ 839.2%
55.54M▼ 17.3%
85.43M▲ 53.8%
85.41M▼ 0.0%
78.42M▼ 8.2%
50.53M▼ 35.6%
25.6M▼ 49.3%
31.89M▲ 24.5%
63.08M▲ 0%
Asset Turnover
-----0.20x0.71x1.61x-0.00x
Asset Growth %
-839.15%-17.31%53.82%-0.03%-8.18%-35.57%-49.33%24.54%230.7%
Total Current Liabilities
568.82K2.03M3.88M7.25M8.91M32.04M27.57M6.36M2.93M3.35M
Accounts Payable
243.74K1.12M1.87M2.77M1.23M3.98M4.71M2.68M755K1.29M
Days Payables Outstanding
729.23K66.93K29.72K22.44K----2.38K9.18K
Short-Term Debt
0001.67M1.43M5.71M0197K363K441K
Deferred Revenue (Current)
0000014.7M15.73M000
Other Current Liabilities
0349.46K795K03.38M03.64M2.68M1.82M1.61M
Current Ratio
12.57x33.12x14.30x11.76x9.35x2.40x1.79x3.93x10.32x18.62x
Quick Ratio
12.57x33.12x14.30x11.76x9.35x2.40x1.79x3.93x10.32x18.62x
Cash Conversion Cycle
----------
Total Non-Current Liabilities
8.83M200K9.81M8.33M9.98M14.44M384K187K356K251K
Long-Term Debt
8.06M09.68M8.28M8.75M3.24M00356K251K
Capital Lease Obligations
00001.24M824K384K187K0109K
Deferred Tax Liabilities
0000000000
Other Non-Current Liabilities
775.84K0127K54K000000
Total Liabilities
9.4M2.23M13.69M15.57M18.9M46.48M27.96M6.54M3.29M3.6M
Total Debt
8.06M200K9.68M9.94M11.79M10.19M824K384K719K692K
Net Debt
955.31K-28.31M-3.54M-14.04M-38.58M-48.92M-22.39M-17.7M-29.56M-60.63M
Debt / Equity
-0.00x0.23x0.14x0.18x0.32x0.04x0.02x0.03x0.01x
Debt / EBITDA
----------0.03x
Net Debt / EBITDA
---------2.99x
Interest Coverage
-4.96x-4.18x-90.76x-26.13x-35.40x-58.29x-24.98x---
Total Equity
-2.25M▲ 0%
64.94M▲ 2983.3%
41.85M▼ 35.6%
69.85M▲ 66.9%
66.5M▼ 4.8%
31.94M▼ 52.0%
22.57M▼ 29.3%
19.06M▼ 15.6%
28.6M▲ 50.0%
59.49M▲ 0%
Equity Growth %
-2983.33%-35.55%66.92%-4.79%-51.97%-29.33%-15.56%50.03%468.42%
Book Value per Share
-0.195.332.413.432.310.950.650.540.310.62
Total Shareholders' Equity
-2.25M64.94M41.85M69.85M66.5M31.94M22.57M19.06M28.6M59.49M
Common Stock
1247891K2K2K3K3K3K5K5K
Retained Earnings
-2.26M-15.51M-41.11M-70.92M-109.98M-172.41M-185.74M-193.81M-216.21M-221.52M
Treasury Stock
0000000000
Accumulated OCI
05.28K21K-297K-138K76K140K781K363K370K
Minority Interest
0000000000

EQ Cash Flow Statement

Equillium, Inc. (EQ) cash flow — operating, investing & free cash flow history

MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations
-662.2K-7.53M-22.95M-24.62M-32.08M-8.73M-21.78M-19.03M-22.75M-18.88M
Operating CF Margin %
------55.42%-60.37%-46.3%--
Operating CF Growth %
--1036.55%-204.92%-7.3%-30.28%72.78%-149.43%12.66%-19.55%-470.47%
Net Income
-2.26M-13.25M-25.6M-29.81M-39.05M-62.43M-13.34M-8.07M-22.4M-19.05M
Depreciation & Amortization
1226.1K23K45K72K118K126K137K116K107K
Stock-Based Compensation
0441.91K2.25M3.82M4.41M4.84M4M3.75M2.32M1.7M
Deferred Taxes
000-269K554K00000
Other Non-Cash Items
1.17M4.98M-337K341K237K48.72M-10.03M-15.69M-469K531K
Working Capital Changes
434.63K301K713K1.25M1.7M19K-2.55M842K-2.32M-2.16M
Change in Receivables
00000-2.84M-897K3.73M00
Change in Inventory
0000000000
Change in Payables
0842.72K775K894K-1.58M2.51M723K-2M-1.94M-1.88M
Cash from Investing
-2.2K-37.43M-2.17M-18.59M27.41M18.68M-4.76M13.81M4.46M-35K
Capital Expenditures
-2.2K-34.86K-74K-202K-57K-279K-50K-85K-48K-47K
CapEx % of Revenue
-----1.77%0.14%0.21%--
Acquisitions
00000700K0012K12K
Investments
----------
Other Investing
0000000000
Cash from Financing
7.77M66.37M9.84M53.95M31.06M-1.22M-9.23M164K30.43M65.68M
Debt Issued (Net)
7.77M1.6M9.88M00-1.43M-9.13M000
Equity Issued (Net)
10064.47M-156K53.78M29.91M0-260K164K30.43M65.68M
Dividends Paid
0000000000
Share Repurchases
00-156K000-260K000
Other Financing
0291.56K111K163K1.15M214K165K000
Net Change in Cash
7.1M▲ 0%
21.4M▲ 201.3%
-15.29M▼ 171.4%
10.76M▲ 170.4%
26.38M▲ 145.1%
8.74M▼ 66.9%
-35.89M▼ 510.6%
-5.13M▲ 85.7%
12.19M▲ 337.6%
46.82M▲ 0%
Free Cash Flow
-664.4K▲ 0%
-7.56M▼ 1038.0%
-23.02M▼ 204.5%
-24.83M▼ 7.8%
-32.14M▼ 29.5%
-9.01M▲ 72.0%
-21.83M▼ 142.3%
-19.11M▲ 12.5%
-22.79M▼ 19.3%
-18.93M▲ 0%
FCF Margin %
------57.19%-60.51%-46.5%--
FCF Growth %
--1038.04%-204.49%-7.83%-29.45%71.96%-142.27%12.47%-19.27%-2.49%
FCF per Share
-0.06-0.62-1.32-1.22-1.12-0.27-0.63-0.54-0.25-0.20
FCF Conversion (FCF/Net Income)
0.29x0.57x0.90x0.83x0.82x0.14x1.63x2.36x1.02x0.99x
Interest Paid
00142K00847K946K000
Taxes Paid
000000580K000

EQ Key Ratios

Equillium, Inc. (EQ) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric20182019202020212022202320242025TTM
Return on Equity (ROE)-42.28%-47.9%-53.38%-57.17%-126.83%-48.92%-38.75%-93.99%-61.43%
Return on Invested Capital (ROIC)-36.58%-53.5%-47.09%-67.68%-850.51%-6017.4%-804.9%-8884.96%628.86%
Gross Margin----100%100%100%--
Net Margin-----396.14%-36.96%-19.63%--
Debt / Equity0.00x0.23x0.14x0.18x0.32x0.04x0.02x0.03x0.01x
Interest Coverage-4.18x-90.76x-26.13x-35.40x-58.29x-24.98x---
FCF Conversion0.57x0.90x0.83x0.82x0.14x1.63x2.36x1.02x0.99x
Revenue Growth-----128.97%13.89%-100%-100%
Related:EQ Dividend History·EQ Revenue History·EQ Price History·EQ P/E History·EQ Financial Ratios·EQ Institutional Holders

EQ SEC Filings & Documents

Equillium, Inc. (EQ) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 13, 2026·SEC

Material company update

Mar 25, 2026·SEC

Material company update

Mar 13, 2026·SEC

10-K Annual Reports

3
FY 2026

Mar 25, 2026·SEC

FY 2025

Mar 27, 2025·SEC

FY 2024

Mar 25, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

May 13, 2026·SEC

FY 2025

Nov 13, 2025·SEC

FY 2025

Aug 14, 2025·SEC

EQ Frequently Asked Questions

Equillium, Inc. (EQ) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Equillium, Inc. (EQ) saw revenue decline by 100.0% over the past year.

Equillium, Inc. (EQ) reported a net loss of $19.1M for fiscal year 2025.

Dividend & Returns

Equillium, Inc. (EQ) has a return on equity (ROE) of -94.0%. Negative ROE indicates the company is unprofitable.

Equillium, Inc. (EQ) had negative free cash flow of $18.9M in fiscal year 2025, likely due to heavy capital investments.

What if you invested $1,000 in EQ back in 2017?

Total return calculator · dividends reinvested · 9+ years of data

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