Revenue volatility remains a primary concern, with quarterly figures frequently hovering between $2.5 million and $3.5 million, despite a singular 2026Q1 revenue outlier of $20.3 million.
| Sales/Revenue | 29.57M | 11.51M | 11.69M | 9.76M | 11.96M | 4.33M | 9.38M | 5.78M | 4.42M | 4.36M | 141.52K | 258.38K | 0 |
| Revenue Growth % | 155.96% | -1.52% | 19.75% | -18.36% | 175.8% | -53.81% | 62.51% | 30.77% | 1.26% | 2981.61% | -45.23% | - | - |
| Cost of Goods Sold | 4.42M | 3.77M | 1.96M | 2.04M | 2.02M | 2.33M | 3.28M | 3.82M | 2.77M | 880.4K | 51.97K | 123.46K | 0 |
| COGS % of Revenue | - | 32.79% | 16.73% | 20.87% | 16.89% | 53.82% | 34.95% | 66.08% | 62.63% | 20.19% | 36.72% | 47.78% | - |
| Gross Profit | 25.15M | 7.74M | 9.73M | 7.72M | 9.94M | 2M | 6.11M | 1.96M | 1.65M | 3.48M | 89.56K | 134.92K | 0 |
| Gross Margin % | 85.06% | 67.21% | 83.27% | 79.13% | 83.11% | 46.18% | 65.05% | 33.92% | 37.37% | 79.81% | 63.28% | 52.22% | - |
| Gross Profit Growth % | - | -20.52% | 26.02% | -22.27% | 396.35% | -67.21% | 211.64% | 18.7% | -52.59% | 3786.67% | -33.62% | - | - |
| Operating Expenses | 50.66M | 53.65M | 40.56M | 42.02M | 44.35M | 42.71M | 32.75M | 30.91M | 27.26M | 18.6M | 13.68M | 12.58M | 8.32M |
| OpEx % of Revenue | - | 466.03% | 347.04% | 430.44% | 370.96% | 985.24% | 348.98% | 535.19% | 617.36% | 426.51% | 9663.12% | 4868.89% | - |
| Selling, General & Admin | 23.64M | 27.88M | 24.02M | 23.05M | 26.7M | 26M | 21M | 20.44M | 22.11M | 14.33M | 6.47M | 6.1M | 4.1M |
| SG&A % of Revenue | - | 242.19% | 205.52% | 236.12% | 223.36% | 599.7% | 223.72% | 353.9% | 500.64% | 328.61% | 4570.76% | 2362.57% | - |
| Research & Development | 25.16M | 24.97M | 16.54M | 18.6M | 17.65M | 15.08M | 6.41M | 5.82M | 5.15M | 4.27M | 7.21M | 6.48M | 4.22M |
| R&D % of Revenue | - | 216.89% | 141.52% | 190.51% | 147.6% | 347.84% | 68.33% | 100.78% | 116.73% | 97.9% | 5092.36% | 2506.32% | - |
| Other Operating Expenses | 1000K | 800K | 0 | 371K | 0 | 1.63M | 5.34M | 4.65M | 0 | 88.55K | -11.05K | -27.28K | 0 |
| Operating Income | -25.5M | -45.91M | -30.83M | -34.29M | -34.41M | -40.71M | -26.65M | -28.95M | -30.82M | -34.25M | -13.59M | -12.45M | -8.32M |
| Operating Margin % | -86.26% | -398.82% | -263.76% | -351.31% | -287.85% | -939.05% | -283.93% | -501.26% | -697.98% | -785.27% | -9599.84% | -4816.67% | - |
| Operating Income Growth % | - | -48.9% | 10.09% | 0.36% | 15.46% | -52.77% | 7.95% | 6.09% | 10% | -152.08% | -9.16% | -49.66% | - |
| EBITDA | -25.31M | -53.92M | -28.47M | -33.13M | -32.12M | -38.9M | -24.37M | -27.02M | -29.08M | -33.66M | -13.54M | -12.44M | -8.37M |
| EBITDA Margin % | -85.59% | -468.43% | -243.59% | -339.42% | -268.68% | -897.23% | -259.64% | -467.88% | -658.41% | -771.87% | -9566.28% | -4814.68% | - |
| EBITDA Growth % | 14.91% | -89.38% | 14.06% | -3.14% | 17.41% | -59.62% | 9.82% | 7.07% | 13.62% | -148.64% | -8.83% | -48.68% | - |
| D&A (Non-Cash Add-back) | 1.66M | -8.01M | 2.36M | 1.16M | 2.29M | 1.81M | 2.28M | 1.93M | 1.75M | 584.34K | 47.49K | 5.16K | -51.42K |
| EBIT | -35.79M | -37.9M | -39.02M | -33.92M | -35.67M | -44.18M | -31.02M | -32.8M | -29.52M | -15.12M | -13.59M | -12.97M | -8.26M |
| Net Interest Income | -684K | 67K | -231K | -6.38M | -12.72M | -10.05M | -8.13M | -5.73M | -2.63M | -1.21M | -985.55K | -3.32M | 0 |
| Interest Income | 15K | 0 | 0 | 0 | 0 | 8.42M | 2.79M | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 699K | -67K | 231K | 6.38M | 12.72M | 8.42M | 2.79M | 5.73M | 2.63M | 1.21M | 985.55K | 3.32M | 0 |
| Other Income/Expense | -9.17M | -8.09M | -8.42M | -7.61M | -13.98M | -11.89M | -7.16M | -9.58M | -1.32M | -902.8K | -1.15M | -3.85M | -293.91K |
| Pretax Income | -34.68M | -54M | -39.25M | -41.9M | -48.4M | -52.6M | -33.81M | -38.53M | -32.15M | -35.15M | -14.73M | -16.29M | -8.61M |
| Pretax Margin % | -117.28% | -469.09% | -335.79% | -429.27% | -404.78% | -1213.38% | -360.25% | -667.17% | -727.92% | -805.97% | -10410.87% | -6305.24% | - |
| Income Tax | 0 | -422K | 0 | 0 | 0 | 0 | 0 | 10K | 0 | -13.18M | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0.78% | 0% | 0% | 0% | 0% | 0% | -0.03% | 0% | 37.5% | 0% | 0% | 0% |
| Net Income | -34.12M | -53.58M | -38.49M | -41.3M | -47.45M | -52.59M | -33.81M | -38.54M | -32.15M | -21.97M | -14.73M | -16.29M | -8.61M |
| Net Margin % | -115.39% | -465.42% | -329.3% | -423.11% | -396.91% | -1213.26% | -360.25% | -667.34% | -727.92% | -503.73% | -10410.87% | -6305.24% | - |
| Net Income Growth % | 14.12% | -39.18% | 6.8% | 12.97% | 9.77% | -55.57% | 12.27% | -19.89% | -46.33% | -49.1% | 9.56% | -89.23% | - |
| Net Income (Continuing) | -34.68M | -53.58M | -39.25M | -41.9M | -48.4M | -52.6M | -33.81M | -38.54M | -32.15M | -21.97M | -14.73M | -16.29M | -8.61M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | -1.57M | -1.4M | -791K | -64K | -699K | 242K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -66.15 | -803.95 | -4574.07 | -93992.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 |
| EPS Growth % | 87.56% | 82.42% | 95.13% | 95.05% | 58.99% | 60.79% | 88.9% | 94.12% | 71.38% | 62.22% | 50% | -33.66% | - |
| EPS (Basic) | - | -803.95 | -4574.07 | -93992.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 |
| Diluted Shares Outstanding | 515.79K | 66.64K | 8.41K | 439 | 25 | 11 | 3 | 0 | 0 | 0 | 0 | 0 | 0 |
| Basic Shares Outstanding | 515.79K | 66.64K | 8.41K | 439 | 25 | 11 | 3 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - |
Imminent liquidity and insolvency risk
As reported in recent financial filings, Jaguar Health's revenue trajectory remains highly inconsistent, characterized by a significant 2026Q1 outlier that obscures a broader trend of stagnation, with quarterly figures frequently hovering near the $2.5 million to $3.5 million range despite the company's commercial-stage status.
The sudden revenue spike in 2026Q1 appears anomalous and warrants deep scrutiny to determine if it represents sustainable patient demand or a one-time licensing event. Excluding this outlier, the core business shows little evidence of meaningful commercial scaling, suggesting that the current Mytesi indication has reached a plateau in its addressable market.
Based on the company's historical income statements, gross margins have fluctuated significantly, occasionally dipping below 75% and reflecting the inherent logistical complexities of botanical drug manufacturing, which prevents the company from achieving the high-margin profile typically associated with successful specialty pharmaceutical commercialization efforts.
The volatility in gross margins suggests that Jaguar Health lacks the pricing power or manufacturing efficiency to protect its bottom line from variable supply chain costs. Without a significant increase in volume to leverage fixed production overhead, these margins appear insufficient to support the company's heavy clinical and corporate expenditure.
According to the provided quarterly data, Jaguar Health continues to exhibit deeply negative operating margins, with SG&A and R&D expenses consistently outpacing gross profit, indicating that the company has yet to achieve the necessary scale to cover its fixed operating cost structure.
The persistent gap between gross profit and operating income suggests that the company's current commercial infrastructure is disproportionately large relative to its revenue base. Investors should monitor whether management can rationalize these expenses, as the current burn rate appears unsustainable without continuous external capital injections.
As evidenced by the most recent financial disclosures, the company's cash position has dwindled to less than $1 million, creating a precarious environment where the ability to fund ongoing clinical trials and daily operations is increasingly dependent on highly dilutive future financing rounds.
The discrepancy between the company's ambitious R&D pipeline and its near-zero liquidity suggests a high probability of further shareholder dilution or potential insolvency. The market's current valuation likely reflects this existential risk, as the company lacks the balance sheet strength to survive even minor delays in its clinical trial milestones.
Quick answers to the most common questions about buying JAGX stock.
For fiscal year 2025, Jaguar Health, Inc. (JAGX) reported total revenue of $11.5M.
Jaguar Health, Inc. (JAGX) reported a net loss of $53.6M for the fiscal year ending 2025.
Jaguar Health, Inc. (JAGX) reported an operating income of $-45.9M, resulting in an operating profit margin of -398.8%. This margin reflects the operational efficiency of the business before interest and taxes.
Jaguar Health, Inc. (JAGX) generated $7.7M in gross profit for the year, representing a gross profit margin of 67.2%. This demonstrates the company's core pricing power and production efficiency.