The company has maintained a zero-revenue profile for ten consecutive quarters while quarterly operating expenses escalated from $1.0 million in 2024Q1 to $2.3 million in 2026Q1.
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | - | - | - | - | - |
| Cost of Goods Sold | 3.64K | 0 | 267.38K | 0 | 147.75K | 59.41K |
| COGS % of Revenue | - | - | - | - | - | - |
| Gross Profit | -3.64K | 0 | -267.38K | 0 | -147.75K | -59.41K |
| Gross Margin % | - | - | - | - | - | - |
| Gross Profit Growth % | - | 100% | - | 100% | -148.72% | - |
| Operating Expenses | 10.15M | 9.72M | 5.66M | 1.8M | 1.18M | 1.23M |
| OpEx % of Revenue | - | - | - | - | - | - |
| Selling, General & Admin | 5.71M | 5.91M | 3.8M | 1.34M | 836.83K | 778.99K |
| SG&A % of Revenue | - | - | - | - | - | - |
| Research & Development | 4.25M | 3.71M | 1.87M | 527.48K | 348.08K | 454.45K |
| R&D % of Revenue | - | - | - | - | - | - |
| Other Operating Expenses | 183.94K | 95.99K | 0 | -70.07K | 0 | 0 |
| Operating Income | -10.15M | -9.72M | -5.93M | -1.8M | -1.33M | -1.29M |
| Operating Margin % | - | - | - | - | - | - |
| Operating Income Growth % | - | -63.79% | -230.25% | -34.78% | -3.08% | - |
| EBITDA | -9.86M | -9.43M | -5.66M | -1.6M | -1.18M | -1.23M |
| EBITDA Margin % | - | - | - | - | - | - |
| EBITDA Growth % | -49.43% | -66.44% | -254.2% | -34.97% | 3.93% | - |
| D&A (Non-Cash Add-back) | 291.61K | 287.96K | 267.38K | 196.94K | 147.75K | 59.41K |
| EBIT | -10.14M | -9.26M | -5.86M | -2M | -1.33M | -1.21M |
| Net Interest Income | -80.59K | 0 | 77.61K | 100 | 98 | 0 |
| Interest Income | -80.59K | 0 | 77.61K | 100 | 98 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 374.95K | 452.53K | 70.77K | -199.9K | 98 | 83.74K |
| Pretax Income | -9.78M | -9.26M | -5.86M | -2M | -1.33M | -1.21M |
| Pretax Margin % | - | - | - | - | - | - |
| Income Tax | -105.2K | -105.2K | 0 | 42.27K | 63.56K | 0 |
| Effective Tax Rate % | 1.08% | 1.14% | 0% | -2.12% | -4.77% | 0% |
| Net Income | -9.67M | -9.16M | -5.86M | -2.04M | -1.4M | -1.21M |
| Net Margin % | - | - | - | - | - | - |
| Net Income Growth % | -44.17% | -56.26% | -187.55% | -46% | -15.47% | - |
| Net Income (Continuing) | -9.67M | -9.16M | -5.86M | -2.04M | -1.4M | -1.21M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.14 | -1.09 | -0.72 | -0.25 | -0.17 | -0.15 |
| EPS Growth % | -10.58% | -51.39% | -188% | -47.06% | -13.33% | - |
| EPS (Basic) | - | -1.09 | -0.72 | -0.25 | -0.17 | -0.15 |
| Diluted Shares Outstanding | 8.46M | 8.38M | 8.13M | 8.13M | 8.13M | 8.13M |
| Basic Shares Outstanding | 8.46M | 8.38M | 8.13M | 8.13M | 8.13M | 8.13M |
| Dividend Payout Ratio | - | - | - | - | - | - |
Imminent liquidity exhaustion
As indicated by the company's financial statements over the last ten quarters, eXoZymes has failed to generate any top-line revenue, underscoring a prolonged pre-commercial status that leaves the firm entirely dependent on external capital to sustain its ongoing research and development activities.
The lack of revenue generation suggests that the SimplePath platform has yet to achieve the necessary commercial validation required to secure meaningful Joint Development Agreements. Investors should monitor whether the company can transition from an R&D-focused entity to a revenue-generating business model before its current capital reserves are fully depleted.
According to the reported income statement data, quarterly operating expenses have trended upward from approximately $1.0 million in 2024Q1 to $2.3 million in 2026Q1, reflecting a significant increase in the firm's burn rate as it attempts to scale its specialized laboratory operations.
The rising cost structure appears driven by a combination of increased R&D personnel requirements and higher administrative overhead. This trend suggests that the company is facing mounting pressure to achieve technical milestones, as the current expense trajectory is clearly outpacing the firm's ability to monetize its intellectual property.
Based on the provided financial filings, stock-based compensation has become a consistent feature of the company's expense profile, reaching $501.1K in 2026Q1, which further complicates the quality of earnings for a firm that is already reporting significant net losses.
The reliance on equity-based incentives to manage cash outflows may provide temporary relief for the balance sheet but risks significant shareholder dilution over time. Analysts should consider the impact of these non-cash charges on the total share count, as they represent a hidden cost to equity holders in the absence of traditional profitability.
While management emphasizes the modularity of the SimplePath platform, the decade-long pre-revenue history suggests that the firm may be struggling to overcome the 'valley of death' inherent in synthetic biology, raising questions about the ultimate commercial scalability of its cell-free enzyme technology.
Short-sellers would likely focus on the widening gap between R&D spending and the lack of tangible commercial partnerships. The risk remains that the company's proprietary technology could be commoditized by rapid advancements in AI-driven protein design, potentially rendering the current high-cost R&D structure obsolete.
Quick answers to the most common questions about buying EXOZ stock.
For fiscal year 2025, eXoZymes, Inc. (EXOZ) reported total revenue of $0.0M.
eXoZymes, Inc. (EXOZ) reported a net loss of $9.2M for the fiscal year ending 2025.