The company has generated zero revenue over the last ten quarters, while maintaining a persistent quarterly R&D expenditure averaging approximately $23 million.
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 115.39K | 6.55M |
| Revenue Growth % | - | - | - | - | - | - | -100% | -98.24% | - |
| Cost of Goods Sold | 2.34M | 9.19M | 0 | 5.87M | 0 | 0 | 0 | 17.22K | 4.25M |
| COGS % of Revenue | - | - | - | - | - | - | - | 14.92% | 64.92% |
| Gross Profit | -2.34M | -9.19M | 0 | -5.87M | 0 | 0 | 0 | 98.17K | 2.3M |
| Gross Margin % | - | - | - | - | - | - | - | 85.08% | 35.08% |
| Gross Profit Growth % | - | - | 100% | - | - | - | -100% | -95.73% | - |
| Operating Expenses | 113.97M | 112.01M | 128.19M | 125.78M | 118.95M | 86.43M | 51.51M | 22.46M | 6.91M |
| OpEx % of Revenue | - | - | - | - | - | - | - | 19468.66% | 105.44% |
| Selling, General & Admin | 25.06M | 31.57M | 31.45M | 34.88M | 28.06M | 23.02M | 15.29M | 5.25M | 2.65M |
| SG&A % of Revenue | - | - | - | - | - | - | - | 4547.35% | 40.52% |
| Research & Development | 88.91M | 90.43M | 96.74M | 90.9M | 90.9M | 63.41M | 36.22M | 17.22M | 4.25M |
| R&D % of Revenue | - | - | - | - | - | - | - | 14921.31% | 64.92% |
| Other Operating Expenses | 0 | -9.98M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -116.31M | -121.21M | -128.19M | -131.65M | -118.95M | -86.43M | -51.51M | -22.35M | -356.45K |
| Operating Margin % | - | - | - | - | - | - | - | -19368.66% | -5.44% |
| Operating Income Growth % | - | 5.45% | 2.63% | -10.67% | -37.63% | -67.8% | -130.48% | -6169.77% | - |
| EBITDA | -107.08M | -112.01M | -119.04M | -125.78M | -116.32M | -84.67M | -50.72M | -21.8M | -173.24K |
| EBITDA Margin % | - | - | - | - | - | - | - | -18889.15% | -2.64% |
| EBITDA Growth % | 12.81% | 5.9% | 5.36% | -8.14% | -37.37% | -66.94% | -132.72% | -12481.32% | - |
| D&A (Non-Cash Add-back) | 9.23M | 9.19M | 9.15M | 5.87M | 2.64M | 1.76M | 786K | 553.28K | 183.21K |
| EBIT | -110.74M | -121.21M | -128.19M | -126.35M | -118.95M | -86.43M | -51.51M | -20.6M | -274.5K |
| Net Interest Income | 13.96M | 15.49M | 19.32M | 14.11M | 0 | 370K | 313K | -169K | 81.95K |
| Interest Income | 13.96M | 15.49M | 19.32M | 14.11M | 5.59M | 370K | 313K | 304K | 81.95K |
| Interest Expense | 0 | 0 | 0 | 0 | 5.59M | 0 | 0 | 473K | 0 |
| Other Income/Expense | 16.38M | 17.12M | 19.4M | 14.15M | 5.12M | 354K | -39.85M | 1.27M | 81.95K |
| Pretax Income | -99.93M | -104.08M | -108.79M | -117.5M | -113.84M | -86.08M | -91.36M | -21.08M | -274.5K |
| Pretax Margin % | - | - | - | - | - | - | - | -18265.66% | -4.19% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.81M | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -8.58% | 0% |
| Net Income | -99.93M | -104.08M | -108.79M | -117.5M | -113.84M | -86.08M | -91.36M | -21.08M | -274.5K |
| Net Margin % | - | - | - | - | - | - | - | -18265.66% | -4.19% |
| Net Income Growth % | 10.18% | 4.33% | 7.41% | -3.22% | -32.25% | 5.79% | -333.49% | -7577.82% | - |
| Net Income (Continuing) | -99.93M | -104.08M | -108.79M | -117.5M | -113.84M | -86.08M | -91.36M | -21.08M | -274.5K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.35 | -1.41 | -1.60 | -2.40 | -2.61 | -2.62 | -1.59 | -2.55 | -0.01 |
| EPS Growth % | 11.26% | 11.88% | 33.33% | 8.05% | 0.38% | -64.78% | 37.65% | - | - |
| EPS (Basic) | - | -1.41 | -1.60 | -2.40 | -2.61 | -2.62 | -1.59 | -2.55 | -0.01 |
| Diluted Shares Outstanding | 74.26M | 73.99M | 67.87M | 49.01M | 43.63M | 32.86M | 31.8M | 8.98M | 50.27M |
| Basic Shares Outstanding | 74.26M | 73.99M | 67.87M | 49.01M | 43.63M | 32.86M | 31.8M | 8.98M | 50.27M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
Liquidity and clinical execution
As indicated by the company's financial statements, Nkarta has generated zero revenue over the last ten quarters, confirming its status as a pre-commercial entity whose growth trajectory is entirely dependent on the successful clinical progression of its NKX101 and NKX019 programs rather than market-based sales.
The lack of top-line growth underscores the company's reliance on external capital to fund its R&D-heavy business model. Investors should monitor whether the pivot toward autoimmune indications can catalyze future partnership-driven revenue, as the current absence of commercial inflows leaves the firm entirely exposed to capital market volatility.
Based on reported figures, Nkarta maintains a consistent R&D expenditure profile, averaging approximately $23 million per quarter, which reflects the high fixed costs associated with maintaining specialized manufacturing facilities and conducting complex clinical trials for its allogeneic cell therapy pipeline.
The stability of these R&D expenses suggests a disciplined but rigid cost structure that does not scale with clinical milestones. This high-burn environment necessitates a constant influx of capital, as the company lacks the operational flexibility to significantly reduce these costs without jeopardizing its core clinical programs.
According to historical income statement data, Nkarta's net losses are consistently exacerbated by significant stock-based compensation expenses, which reached as high as $4.4 million in a single quarter, effectively diluting existing shareholders while attempting to retain specialized talent in a competitive biotech labor market.
The reliance on equity-based incentives suggests that the company is managing its cash burn by shifting compensation costs to the balance sheet through dilution. Analysts should carefully adjust for these non-cash charges when evaluating the true economic cost of the company's R&D operations.
As highlighted by recent financial disclosures, the company's reported cash position of approximately $39.6 million appears critically low relative to its quarterly net loss run rate, suggesting that the firm may face an immediate liquidity crisis that could force highly dilutive financing or strategic asset sales.
The discrepancy between the current cash position and the historical burn rate warrants extreme caution, as it implies that the company's runway may be significantly shorter than the market currently anticipates. This liquidity pressure may force management to prioritize short-term survival over long-term clinical value creation, potentially compromising the integrity of its R&D pipeline.
Quick answers to the most common questions about buying NKTX stock.
For fiscal year 2025, Nkarta, Inc. (NKTX) reported total revenue of $0.0M. This represents a 100.0% decline compared to $6.5M in 2018.
Nkarta, Inc. (NKTX) reported a net loss of $104.1M for the fiscal year ending 2025.