Lyra Therapeutics, Inc. (LYRA) Balance Sheet
LYRA balance sheet, 2025
December 31, 2025 · U.S. dollars$36.1M assets = $46.8M liabilities + −$10.7M equity
Liabilities exceed assets: shareholders’ equity is negative (−$10.7M).
Both columns are drawn to the same scale: what LYRA owns equals what it owes plus shareholders’ equity. Hover a block for its value.
LYRA financial health
Descriptive bands, not a rating. Fiscal 2025.
LYRA balance sheet trends, 2018–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $25.4M2018 | $36.1M2025 | +5.2%/yr | |
| Total liabilities | $132.4M2018 | $46.8M2025 | −13.8%/yr | |
| Shareholders’ equity | −$107.1M2018 | −$10.7M2025 | — | |
| Cash & short-term investments | $23.9M2018 | $15.9M2025 | −5.7%/yr | |
| Total debt | $3.3M2019 | $30.3M2025 | +44.5%/yr | |
| Net cash (debt) | $6.5M2019 | −$14.4M2025 | −$20.8M | |
| Working capital | $23.0M2018 | $6.8M2025 | −$16.2M | |
| Book value per share | −$17.092018 | $8.672020 | — | |
| Current ratio | 12.722018 | 1.712025 | −11.01 | |
| Debt / equity | 0.452019 | 2.972024 | +2.51 | |
| Shares outstanding | 6.3M2018 | 8.6M2020 | +17.1%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
LYRA assets
LYRA liabilities and equity
LYRA debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
LYRA balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Cash & short-term investments | $15.9M | $40.6M | $102.8M | $97.9M | $45.7M | $74.6M | $9.8M | $23.9M |
| Cash & equivalents | $15.9M | $40.6M | $22.4M | $32.5M | $45.7M | $74.6M | $9.8M | $23.9M |
| Short-term investments | — | $0 | $80.4M | $65.3M | $0 | — | — | — |
| Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $167,000 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1 |
| Other current assets | $379,000 | $2.4M | $2.1M | $2.9M | $2.2M | $1.3M | $311,000 | $871,999 |
| Total current assets | $16.3M | $43.0M | $104.8M | $100.8M | $47.9M | $75.9M | $10.1M | $24.9M |
| Property, plant & equipment (net) | $17.8M | $21.3M | $35.3M | $4.5M | $5.9M | $4.5M | $3.4M | $103,000 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $2.0M | $2.0M | $2.5M | $4.7M | $1.1M | $447,000 | $1.4M | $329,000 |
| Total assets | $36.1M | $66.3M | $142.6M | $110.0M | $54.9M | $80.8M | $15.0M | $25.4M |
| Liabilities | ||||||||
| Accounts payable | $663,000 | $1.2M | $3.1M | $2.6M | $3.1M | $922,000 | $1.1M | $631,000 |
| Short-term debt | $4.8M | $4.1M | $5.4M | $3.5M | $1.1M | $985,000 | $899,000 | — |
| Deferred revenue | $11.9M | $398,000 | $1.7M | $1.3M | $9.8M | $2.8M | $3.1M | — |
| Total current liabilities | $9.5M | $12.6M | $19.6M | $14.5M | $18.2M | $4.9M | $5.2M | $2.0M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $30.3M | $34.4M | $26.9M | $2.2M | $1.5M | $2.4M | $3.3M | $0 |
| Other long-term liabilities | $37.3M | $42.1M | $33.6M | $14.7M | $2.3M | $1.5M | $2.4M | $130.5M |
| Total liabilities | $46.8M | $54.8M | $53.2M | $29.2M | $20.6M | $6.3M | $7.6M | $132.4M |
| Shareholders' equity | ||||||||
| Common stock & paid-in capital | $2,000 | $65,000 | $57,000 | $32,000 | $13,000 | $13,000 | $6,000 | $6,000 |
| Retained earnings (deficit) | −$433.7M | −$404.8M | −$311.4M | −$248.7M | −$193.4M | −$149.9M | −$127.8M | −$111.5M |
| Accumulated other comprehensive income | — | — | $33,000 | $10,000 | — | $0 | $0 | −$2.8M |
| Total shareholders' equity | −$10.7M | $11.6M | $89.4M | $80.8M | $34.3M | $74.5M | $7.3M | −$107.1M |
| Key figures | ||||||||
| Total debt | $30.3M | $34.4M | $26.9M | $4.2M | $1.5M | $2.4M | $3.3M | — |
| Net cash (debt) | −$14.4M | $6.2M | $75.9M | $93.7M | $44.3M | $72.2M | $6.5M | — |
| Working capital | $6.8M | $30.4M | $85.2M | $86.4M | $29.7M | $71.0M | $4.9M | $23.0M |
| Tangible book value | −$10.7M | $11.6M | $89.4M | $80.8M | $34.3M | $74.5M | $7.3M | −$107.1M |
| Book value per share | — | — | — | — | — | $8.67 | $0.90 | −$17.09 |
| Shares outstanding | — | — | — | — | — | 8.6M | 8.2M | 6.3M |
| Current ratio | 1.71 | 3.41 | 5.35 | 6.97 | 2.63 | 15.54 | 1.94 | 12.72 |
| Quick ratio | 1.67 | 3.21 | 5.24 | 6.77 | 2.51 | 15.27 | 1.88 | 12.27 |
| Debt / equity | — | 2.97 | 0.30 | 0.05 | 0.04 | 0.03 | 0.45 | — |
| Equity / assets | −29.7% | 17.5% | 62.7% | 73.4% | 62.5% | 92.2% | 49.0% | −422.2% |
| Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $15.9M | $22.1M | $29.8M | $31.7M | $40.6M | $51.6M | $67.5M | $87.1M | $102.8M | $102.5M | $116.2M | $82.7M |
| Cash & equivalents | $15.9M | $22.1M | $29.8M | $31.7M | $40.6M | $23.8M | $31.9M | $15.8M | $22.4M | $24.9M | $54.4M | $22.0M |
| Short-term investments | — | — | — | — | $0 | $27.8M | $35.6M | $71.3M | $80.4M | $77.7M | $61.8M | $60.7M |
| Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $379,000 | $964,000 | $1.3M | $2.2M | $2.4M | $2.8M | $1.9M | $2.3M | $2.1M | $2.4M | $2.1M | $2.1M |
| Total current assets | $16.3M | $23.0M | $31.1M | $33.9M | $43.0M | $54.4M | $69.4M | $89.4M | $104.8M | $104.9M | $118.3M | $84.8M |
| Property, plant & equipment (net) | $17.8M | $18.7M | $19.5M | $20.4M | $21.3M | $22.3M | $23.2M | $49.4M | $35.3M | $6.8M | $2.0M | $3.8M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $2.0M | $2.0M | $2.0M | $2.0M | $2.0M | $2.0M | $2.0M | $2.7M | $2.5M | $8.9M | $5.4M | $5.2M |
| Total assets | $36.1M | $43.7M | $52.6M | $56.3M | $66.3M | $78.8M | $94.6M | $141.5M | $142.6M | $120.6M | $125.7M | $93.9M |
| Liabilities | ||||||||||||
| Accounts payable | $663,000 | $627,000 | $680,000 | $725,000 | $1.2M | $2.3M | $5.0M | $2.8M | $3.1M | $5.1M | $4.2M | $4.0M |
| Short-term debt | $4.8M | $4.7M | $4.6M | $4.2M | $4.1M | $4.0M | $4.3M | $4.5M | $5.4M | $1.4M | $1.7M | $1.9M |
| Deferred revenue | $11.9M | $7,000 | $32,000 | $216,000 | $398,000 | $607,000 | $814,000 | $1.3M | $1.7M | $1.7M | $1.5M | $1.5M |
| Total current liabilities | $9.5M | $9.5M | $11.2M | $11.5M | $12.6M | $15.0M | $19.3M | $18.7M | $19.6M | $19.2M | $14.1M | $14.2M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $30.3M | $31.4M | $32.5M | $33.4M | $34.4M | $35.3M | $36.7M | $37.9M | $26.9M | $6.3M | $1.7M | $2.1M |
| Other long-term liabilities | $37.3M | $38.6M | $39.8M | $41.0M | $42.1M | $43.2M | $44.3M | $45.3M | $33.6M | $17.1M | $13.0M | $13.6M |
| Total liabilities | $46.8M | $48.0M | $51.0M | $52.4M | $54.8M | $58.1M | $63.6M | $64.0M | $53.2M | $36.3M | $27.1M | $27.8M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $2,000 | $2,000 | $2,000 | $66,000 | $65,000 | $65,000 | $65,000 | $61,000 | $57,000 | $50,000 | $50,000 | $32,000 |
| Retained earnings (deficit) | −$433.7M | −$426.8M | −$420.8M | −$413.3M | −$404.8M | −$393.8M | −$381.9M | −$333.8M | −$311.4M | −$296.2M | −$280.5M | −$264.9M |
| Accumulated other comprehensive income | — | — | — | — | — | $20,000 | −$4,000 | $25,000 | $33,000 | −$7,000 | −$27,000 | −$12,000 |
| Total shareholders' equity | −$10.7M | −$4.3M | $1.6M | $3.9M | $11.6M | $20.6M | $31.0M | $77.5M | $89.4M | $84.2M | $98.6M | $66.1M |
| Key figures | ||||||||||||
| Total debt | $30.3M | $31.4M | $32.5M | $33.4M | $34.4M | $35.3M | $36.7M | $37.9M | $26.9M | $6.3M | $1.7M | $2.1M |
| Net cash (debt) | −$14.4M | −$9.3M | −$2.7M | −$1.6M | $6.2M | $16.3M | $30.8M | $49.3M | $75.9M | $96.3M | $114.5M | $80.6M |
| Working capital | $6.8M | $13.5M | $19.9M | $22.4M | $30.4M | $39.5M | $50.2M | $70.7M | $85.2M | $85.7M | $104.1M | $70.6M |
| Tangible book value | −$10.7M | −$4.3M | $1.6M | $3.9M | $11.6M | $20.6M | $31.0M | $77.5M | $89.4M | $84.2M | $98.6M | $66.1M |
| Book value per share | — | −$2.45 | $1.20 | — | — | — | — | — | — | — | — | — |
| Shares outstanding | — | 1.8M | 1.3M | — | — | — | — | — | — | — | — | — |
| Current ratio | 1.71 | 2.43 | 2.78 | 2.96 | 3.41 | 3.64 | 3.60 | 4.78 | 5.35 | 5.45 | 8.38 | 5.99 |
| Quick ratio | 1.67 | 2.33 | 2.67 | 2.77 | 3.21 | 3.45 | 3.50 | 4.65 | 5.24 | 5.33 | 8.23 | 5.84 |
| Debt / equity | — | — | 20.02 | 8.61 | 2.97 | 1.71 | 1.19 | 0.49 | 0.30 | 0.07 | 0.02 | 0.03 |
| Equity / assets | −29.7% | −9.9% | 3.1% | 6.9% | 17.5% | 26.2% | 32.8% | 54.8% | 62.7% | 69.9% | 78.4% | 70.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 31, 2026); data from EODHD.
LYRA financial position
At the end of fiscal 2025 (December 31, 2025), Lyra Therapeutics had total assets of $36.1 million (down 45.6% from a year earlier), total liabilities of $46.8 million and shareholders' equity of -$10.7 million. It held $15.9 million in cash and short-term investments against $30.3 million of debt, net debt of $14.4 million. Its current ratio was 1.71.
Related: LYRA income statement, LYRA cash flow statement, LYRA key metrics. See the LYRA stock overview for the latest quote and news.
LYRA balance sheet FAQ
What are Lyra Therapeutics's total assets?
Lyra Therapeutics reported total assets of $36.1 million at the end of fiscal 2025 (December 31, 2025), compared with $66.3 million a year earlier.
How much debt does Lyra Therapeutics have?
Lyra Therapeutics had $30.3 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.
How much cash does Lyra Therapeutics have?
Lyra Therapeutics held $15.9 million in cash and short-term investments at the end of fiscal 2025; with $30.3 million of debt that is net debt of $14.4 million.
What is Lyra Therapeutics's book value?
Lyra Therapeutics's shareholders' equity (book value) was -$10.7 million at the end of fiscal 2025.
What is Lyra Therapeutics's current ratio?
Lyra Therapeutics had current assets of $16.3 million and current liabilities of $9.5 million, a current ratio of 1.71 (it can cover its short-term obligations).