Revenue remains negligible at $26,000 for 2026Q3, while the company continues to report significant operating losses with an operating margin of -105.8%.
| Metric | TTM | Mar'25 | Mar'24 | Mar'23 | Mar'22 | Mar'21 | Mar'20 | Mar'19 | Mar'18 | Mar'17 | Mar'16 | Mar'15 | Mar'14 | Mar'13 | Mar'11 |
|---|
| Sales/Revenue | 142K | 144K | 109K | 370K | 1.5M | 0 | 2.2M | 3.09M | 4.6M | 4.23M | 1.48M | 571K | 379K | 1.2M | 0 |
| Revenue Growth % | 16.39% | 32.11% | -70.54% | -75.33% | - | -100% | -28.95% | -32.85% | 8.82% | 185.23% | 159.72% | 50.66% | -68.34% | - | - |
| Cost of Goods Sold | 0 | 5K | 0 | 0 | 0 | 0 | 328K | 482K | 1.03M | 956K | 0 | 0 | 0 | 0 | 0 |
| COGS % of Revenue | - | 3.47% | - | - | - | - | 14.94% | 15.59% | 22.38% | 22.6% | - | - | - | - | - |
| Gross Profit | 142K | 139K | 109K | 370K | 1.5M | 0 | 1.87M | 2.61M | 3.57M | 3.27M | 1.48M | 571K | 379K | 1.2M | 0 |
| Gross Margin % | 100% | 96.53% | 100% | 100% | 100% | - | 85.06% | 84.41% | 77.62% | 77.4% | 100% | 100% | 100% | 100% | - |
| Gross Profit Growth % | - | 27.52% | -70.54% | -75.33% | - | -100% | -28.4% | -26.98% | 9.13% | 120.77% | 159.72% | 50.66% | -68.34% | - | - |
| Operating Expenses | 11.6M | 12.76M | 15.2M | 18.1M | 12.98M | 16.83M | 23.34M | 29.88M | 38.84M | 41.85M | 40.13M | 30.87M | 21.03M | 10.52M | 120.09K |
| OpEx % of Revenue | - | 8857.64% | 13940.37% | 4892.16% | 865.27% | - | 1062.98% | 966.77% | 843.88% | 989.34% | 2705.73% | 5405.95% | 5548.28% | 878.53% | - |
| Selling, General & Admin | 7.66M | 7.69M | 9.64M | 9.09M | 9.63M | 15.71M | 17.15M | 14.7M | 20.89M | 22.3M | 22.12M | 17.95M | 13.05M | 7.08M | 120.09K |
| SG&A % of Revenue | - | 5340.97% | 8847.71% | 2456.22% | 642.07% | - | 780.97% | 475.64% | 453.79% | 527.28% | 1491.44% | 3143.08% | 3444.33% | 591.48% | - |
| Research & Development | 3.92M | 5.03M | 5.5M | 8.88M | 3.32M | 1.1M | 5.28M | 14.75M | 17.96M | 19.55M | 18.01M | 12.92M | 7.97M | 3.44M | 0 |
| R&D % of Revenue | - | 3489.58% | 5044.04% | 2401.35% | 221.33% | - | 240.62% | 477.26% | 390.09% | 462.06% | 1214.3% | 2262.87% | 2103.96% | 287.05% | - |
| Other Operating Expenses | 16K | 39K | 53K | 128K | 28K | 15K | 909K | 429K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -11.45M | -12.62M | -15.09M | -17.73M | -11.48M | -16.83M | -21.48M | -27.27M | -35.27M | -38.58M | -38.64M | -30.3M | -20.65M | -9.32M | 0 |
| Operating Margin % | -8066.2% | -8761.11% | -13840.37% | -4792.16% | -765.27% | - | -977.91% | -882.37% | -766.26% | -911.94% | -2605.73% | -5305.95% | -5448.28% | -778.53% | - |
| Operating Income Growth % | - | 16.37% | 14.92% | -54.46% | 31.78% | 21.65% | 21.26% | 22.67% | 8.57% | 0.18% | -27.55% | -46.72% | -121.58% | - | - |
| EBITDA | -11.22M | -12.35M | -14.81M | -17.44M | -11.34M | -16.79M | -20.33M | -26.29M | -34M | -37.43M | -37.83M | -29.82M | -20.26M | -9.12M | -117.82K |
| EBITDA Margin % | -7902.11% | -8576.39% | -13583.49% | -4712.97% | -755.8% | - | -925.91% | -850.66% | -738.74% | -884.78% | -2550.78% | -5223.29% | -5346.17% | -762.24% | - |
| EBITDA Growth % | 8.64% | 16.59% | 15.09% | -53.81% | 32.46% | 17.45% | 22.67% | 22.67% | 9.14% | 1.06% | -26.83% | -47.2% | -122.07% | -7644.21% | - |
| D&A (Non-Cash Add-back) | 233K | 266K | 280K | 293K | 142K | 41K | 1.14M | 980K | 1.27M | 1.15M | 815K | 472K | 387K | 195K | 2.28K |
| EBIT | -1.21M | -2.48M | -15.09M | -17.73M | -11.48M | -16.83M | -21.48M | -27.27M | -35.27M | -38.58M | -38.64M | -30.08M | -25.84M | -42.47M | -120.09K |
| Net Interest Income | 229K | 130K | 405K | 454K | 8K | 15K | 594K | 705K | 478K | 198K | 88K | 31K | 5K | -3.21M | 0 |
| Interest Income | 242K | 140K | 405K | 454K | 8K | 15K | 594K | 705K | 478K | 198K | 88K | 32K | 18K | 5K | 0 |
| Interest Expense | 13K | 10K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1K | 13K | 1.09M | 0 |
| Other Income/Expense | 10.23M | 10.13M | 417K | 474K | 33K | 2K | 2.77M | 642K | 470K | 151K | 71K | 215K | -5.2M | -34.23M | -147.82K |
| Pretax Income | -1.23M | -2.49M | -14.67M | -17.26M | -11.45M | -16.82M | -18.71M | -26.63M | -34.8M | -38.42M | -38.57M | -30.08M | -25.85M | -43.55M | -147.82K |
| Pretax Margin % | -862.68% | -1726.39% | -13457.8% | -4664.05% | -763.07% | - | -851.91% | -861.6% | -756.05% | -908.37% | -2600.94% | -5268.3% | -6820.05% | -3638.51% | - |
| Income Tax | 2K | 2K | 2K | 2K | 2K | 2K | 2K | 3K | 2K | 23K | 3K | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | -0.16% | -0.08% | -0.01% | -0.01% | -0.02% | -0.01% | -0.01% | -0.01% | -0.01% | -0.06% | -0.01% | 0% | 0% | 0% | 0% |
| Net Income | -1.23M | -2.49M | -14.67M | -17.26M | -11.45M | -16.83M | -18.71M | -26.64M | -34.8M | -38.45M | -38.58M | -30.08M | -25.85M | -43.55M | -147.82K |
| Net Margin % | -864.08% | -1727.78% | -13459.63% | -4664.59% | -763.2% | - | -852% | -861.7% | -756.09% | -908.91% | -2601.15% | -5268.3% | -6820.05% | -3638.51% | - |
| Net Income Growth % | 90.09% | 83.04% | 15% | -50.76% | 31.96% | 10.07% | 29.75% | 23.47% | 9.48% | 0.33% | -28.23% | -16.38% | 40.65% | -29364.13% | - |
| Net Income (Continuing) | -1.23M | -2.49M | -14.67M | -17.26M | -11.45M | -16.83M | -18.71M | -26.64M | -34.8M | -38.45M | -38.58M | -30.08M | -25.85M | -43.55M | -147.82K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.84 | -1.70 | -19.25 | -23.77 | -15.78 | -29.25 | -34.66 | -55.40 | -77.89 | -94.38 | -102.80 | -90.64 | -84.82 | -242.24 | -0.49 |
| EPS Growth % | 91.43% | 91.17% | 19.02% | -50.63% | 46.05% | 15.61% | 37.44% | 28.87% | 17.47% | 8.19% | -13.42% | -6.86% | 64.99% | -49336.73% | - |
| EPS (Basic) | - | -1.70 | -19.25 | -23.77 | -15.78 | -29.25 | -34.66 | -55.40 | -77.89 | -94.38 | -102.80 | -90.64 | -84.82 | -242.24 | -0.49 |
| Diluted Shares Outstanding | 1.46M | 1.46M | 762.08K | 726.09K | 725.3K | 575.17K | 539.82K | 480.75K | 446.85K | 407.35K | 375.24K | 331.88K | 304.75K | 179.79K | 300.08K |
| Basic Shares Outstanding | 1.46M | 1.46M | 762.08K | 726.09K | 725.3K | 575.17K | 539.82K | 480.75K | 446.85K | 407.35K | 375.24K | 331.88K | 304.75K | 179.79K | 300.08K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Binary clinical trial failure
As reported in recent financial filings, VIVS generated a nominal $26,000 in revenue for 2026Q3, highlighting that the company remains a pre-commercial entity where top-line growth is driven by sporadic research collaborations rather than a repeatable, scalable product-market fit within the competitive biotechnology landscape.
The revenue trajectory appears highly erratic, reflecting project-based milestones rather than consistent commercial adoption of the NovoGen platform. Investors should note that the lack of a recurring revenue base suggests the company has yet to transition from an R&D-focused service model to a viable drug-discovery enterprise.
Based on the provided income statement data, VIVS maintains a 100% gross margin, yet this figure is fundamentally misleading as it excludes the massive underlying R&D and SG&A expenditures required to sustain the company's proprietary bioprinting technology and ongoing clinical development of the FXR314 candidate.
While the high gross margin suggests minimal direct costs of goods sold, it fails to account for the heavy capital intensity of the business model. The structural inability to leverage these margins against operating expenses indicates that the company is currently functioning as a pure cash-burn vehicle.
According to the latest quarterly figures, VIVS continues to report significant operating losses, with SG&A and R&D expenses consistently dwarfing revenue, which suggests that the company has not yet achieved the necessary scale to demonstrate any meaningful operating leverage or path toward self-sustaining profitability.
The persistent gap between operating expenses and revenue indicates that management is prioritizing clinical trial progression over cost discipline. This structure warrants further investigation into how long the current cash position can support such high overhead without requiring further dilutive equity financing.
As evidenced by the 2025Q4 net income anomaly, where the company reported a positive $6.9 million despite ongoing operating losses, the quality of earnings appears highly suspect and likely driven by non-operating adjustments rather than core operational improvements in the underlying bioprinting or drug development business.
Investors should exercise caution when interpreting net income figures, as they do not reflect the company's true cash-generating capability. The volatility in EPS suggests that non-recurring items are masking the underlying trend of consistent operational losses that characterize the firm's current development stage.
Based on the reported $11.3 million cash balance and the high quarterly burn rate, the company faces a significant liquidity risk that may force management to seek dilutive financing, potentially undermining the long-term value proposition for existing shareholders before clinical milestones can be reached.
The market may be overestimating the value of the platform while underestimating the binary risks associated with the FXR314 clinical trials. If the company fails to secure a strategic partnership or additional funding, the current income statement trajectory suggests a high probability of insolvency or severe shareholder dilution.
Quick answers to the most common questions about buying VIVS stock.
For fiscal year 2025, VivoSim Labs, Inc. (VIVS) reported total revenue of $0.1M.
VivoSim Labs, Inc. (VIVS) reported a net loss of $2.5M for the fiscal year ending 2025.
VivoSim Labs, Inc. (VIVS) reported an operating income of $-12.6M, resulting in an operating profit margin of -8761.1%. This margin reflects the operational efficiency of the business before interest and taxes.
VivoSim Labs, Inc. (VIVS) generated $0.1M in gross profit for the year, representing a gross profit margin of 96.5%. This demonstrates the company's core pricing power and production efficiency.