Alpha Cognition Inc (ACOG) Income Statement
ACOG 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsACOG revenue and net income
Where ACOG's revenue goes
2025Each bar shows an amount and its share of revenue. ACOG kept −202.2% of revenue as net income.
ACOG profit margins
ACOG growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | — | — | — | — |
| Gross profit | — | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
ACOG quarterly EPS vs estimates
Alpha Cognition beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 12, 2026 (estimate $-0.33).
ACOG income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $10.2M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cost of revenue | $1.9M | $81,220 | — | — | — | — | — | — |
| Gross profit | $8.3M | −$81,220 | — | — | — | — | — | — |
| Research & development | $1.9M | $3.9M | $5.0M | $11.8M | $10.2M | $6.0M | — | — |
| Sales, general & admin | $29.1M | $7.3M | $4.7M | $5.4M | $4.3M | $1.2M | — | — |
| Total operating expenses | $31.0M | $11.9M | $9.6M | $18.1M | $14.7M | $7.3M | $129,241 | $43,155 |
| Operating income | −$22.7M | −$11.9M | −$9.6M | −$18.1M | −$14.7M | −$7.3M | −$129,241 | −$43,155 |
| Interest income | $1.9M | $161,664 | $6,804 | $1,925 | $2,074 | $22,590 | — | — |
| Interest expense | — | $185,777 | $67,712 | $232,288 | $673,131 | $983,671 | — | — |
| Income before taxes | −$20.7M | −$14.6M | −$13.8M | −$16.3M | −$24.9M | −$7.4M | −$118,593 | −$43,155 |
| Net income | −$20.7M | −$14.6M | −$13.8M | −$16.3M | −$24.9M | −$7.4M | −$118,593 | −$43,155 |
| EBITDA | −$22.7M | −$14.4M | −$13.6M | −$15.9M | −$24.1M | −$6.3M | −$129,241 | −$43,155 |
| EPS (diluted) | −$1.46 | −$4.12 | −$3.69 | −$7.58 | −$11.84 | −$3.56 | −$0.07 | −$1.08 |
| Gross margin | 81.3% | — | — | — | — | — | — | — |
| Operating margin | −221.7% | — | — | — | — | — | — | — |
| Net margin | −202.2% | — | — | — | — | — | — | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.1M | $3.5M | $2.8M | $2.8M | $1.7M | $2.9M | $0 | $0 | $0 | $0 | $0 | $0 |
| Cost of revenue | $391,057 | $271,776 | $252,249 | $628,061 | $534,097 | $836,541 | $20,395 | $19,997 | $19,997 | $0 | — | — |
| Gross profit | $5.7M | $3.3M | $2.5M | $2.2M | $1.1M | $2.1M | −$20,395 | −$19,997 | −$19,997 | $0 | — | — |
| Research & development | $2.0M | $1.1M | $569,749 | $573,592 | $317,120 | $407,511 | $1.0M | $996,029 | $967,200 | $916,716 | $1.2M | $1.4M |
| Sales, general & admin | $11.4M | $10.3M | $9.9M | $6.9M | $6.5M | $5.4M | $1.3M | $1.0M | $1.4M | $3.4M | $1.2M | $1.3M |
| Total operating expenses | $13.5M | $11.4M | $10.5M | $7.5M | $6.9M | $5.7M | $2.3M | $2.0M | $2.4M | $4.3M | $2.2M | $2.8M |
| Operating income | −$7.8M | −$8.1M | −$7.9M | −$5.3M | −$5.7M | −$3.6M | −$2.3M | −$2.0M | −$2.4M | −$4.3M | −$2.2M | −$2.8M |
| Interest income | $380,735 | $506,056 | $634,160 | $377,671 | $425,670 | $470,676 | $145,518 | $1,916 | $2,160 | $16,265 | $1,745 | $2,712 |
| Interest expense | — | — | — | $377,671 | $644 | $13,701 | $20,393 | $104,155 | $36,359 | $20,780 | $43,428 | $9,607 |
| Income before taxes | −$8.8M | −$6.5M | −$6.9M | −$1.3M | −$10.5M | −$2.0M | −$5.7M | −$1.9M | −$2.1M | −$5.0M | −$5.8M | −$3.3M |
| Net income | −$8.8M | −$6.5M | −$6.9M | −$1.3M | −$10.5M | −$2.0M | −$5.7M | −$1.9M | −$2.1M | −$5.0M | −$5.8M | −$3.3M |
| EBITDA | −$6.2M | −$8.1M | −$7.9M | −$5.3M | −$5.7M | −$2.0M | −$5.6M | −$1.7M | −$2.1M | −$5.0M | −$5.8M | −$3.2M |
| EPS (diluted) | −$0.40 | −$0.32 | −$0.31 | −$0.30 | −$0.65 | −$0.20 | −$0.50 | −$0.31 | −$0.25 | −$0.87 | — | −$0.86 |
| Gross margin | 93.6% | 92.3% | 91.0% | 77.9% | 67.8% | 71.4% | — | — | — | — | — | — |
| Operating margin | −127.3% | −229.1% | −283.7% | −186.6% | −346.1% | −123.3% | — | — | — | — | — | — |
| Net margin | −144.3% | −183.3% | −245.5% | −46.4% | −632.7% | −68.5% | — | — | — | — | — | — |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in ACOG's financial statements (latest annual report filed March 31, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
ACOG financial results
In fiscal year 2025 (ended December 31, 2025), Alpha Cognition reported revenue of $10.2 million. It had a net loss of $20.7 million, a net profit margin of −202.2%. Diluted earnings per share came to −$1.46.
See the ACOG stock overview for the latest quote and news, or the ACOG chart for price history and technical indicators.
ACOG income statement FAQ
What is Alpha Cognition's annual revenue?
Alpha Cognition reported total revenue of $10.2 million for fiscal year 2025, which ended on December 31, 2025.
Is Alpha Cognition profitable?
No. Alpha Cognition reported a net loss of $20.7 million in fiscal 2025, a net profit margin of −202.2%; its operating margin was −221.7%.
What is Alpha Cognition's gross margin?
Alpha Cognition's gross margin was 81.3% in fiscal 2025: for every $100 of revenue, Alpha Cognition kept $81 after the direct cost of its products and services.
How much does Alpha Cognition spend on research and development?
Alpha Cognition spent $1.9 million on research and development in fiscal 2025, 18.3% of revenue.
What are Alpha Cognition's earnings per share?
Alpha Cognition earned $-1.46 per diluted share in fiscal 2025, compared with $-4.12 a year earlier.
When will Alpha Cognition report its next earnings?
Alpha Cognition is expected to report results for the quarter ending September 30, 2026 on November 12, 2026 after the market closes.
When does Alpha Cognition's fiscal year end?
Alpha Cognition's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 31, 2026.