Alto Neuroscience, Inc. (ANRO) Income Statement
ANRO FY2025 at a glance
Fiscal year ended September 30, 2025 · U.S. dollarsANRO revenue and net income
ANRO profit margins
ANRO growth rates
to FY2025| 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.
ANRO quarterly EPS vs estimates
Alto Neuroscience beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: November 11, 2026 (estimate $-0.60).
ANRO income statement
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $210,000 |
| Cost of revenue | $661,000 | $502,000 | $373,000 | $342,000 | $145,000 |
| Gross profit | −$661,000 | −$502,000 | −$373,000 | −$342,000 | $65,000 |
| Research & development | $45.6M | $47.0M | $30.3M | $23.7M | $8.4M |
| Sales, general & admin | $20.7M | $21.6M | $7.9M | $5.5M | $3.9M |
| Total operating expenses | $65.7M | $68.1M | $37.8M | $28.9M | $12.1M |
| Operating income | −$66.4M | −$68.6M | −$37.8M | −$29.2M | −$12.1M |
| Interest income | $6.6M | $8.9M | $2.3M | $114,000 | $2,000 |
| Interest expense | $2.5M | $1.4M | $1.4M | $0 | — |
| Income before taxes | −$63.2M | −$61.4M | −$36.3M | −$27.7M | −$9.2M |
| Income taxes | — | −$61.4M | — | — | — |
| Net income | −$63.2M | −$61.4M | −$36.3M | −$27.7M | −$9.2M |
| EBITDA | −$60.1M | −$62.3M | −$34.6M | −$27.4M | −$9.0M |
| EPS (diluted) | −$2.25 | −$9.75 | −$1.35 | −$1.08 | −$4.59 |
| Gross margin | — | — | — | — | 31.0% |
| Operating margin | — | — | — | — | −5,741.0% |
| Net margin | — | — | — | — | −4,374.8% |
| 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 | $0 | $0 | $0 | $0 | $0 | $0 | $394,000 | $0 | $0 | $0 | $372,000 | $0 |
| Cost of revenue | — | $184,000 | $157,000 | $164,000 | $100,000 | $171,000 | $170,000 | $200,000 | $100,000 | $97,000 | $92,000 | $95,000 |
| Gross profit | — | −$184,000 | −$157,000 | −$164,000 | −$100,000 | −$171,000 | −$170,000 | −$200,000 | −$100,000 | −$97,000 | −$92,000 | −$467,000 |
| Research & development | $22.1M | $20.3M | $12.0M | $10.5M | $13.1M | $10.0M | $10.8M | $13.1M | $13.2M | $10.0M | $9.6M | $8.0M |
| Sales, general & admin | $7.0M | $6.8M | $5.1M | $4.4M | $5.6M | $5.7M | $6.2M | $5.8M | $5.3M | $4.5M | $2.2M | $1.8M |
| Total operating expenses | $29.1M | $27.0M | −$115.7M | $15.0M | $18.6M | $15.7M | $16.8M | $18.9M | $18.3M | $14.3M | $11.7M | $9.7M |
| Operating income | −$29.1M | −$27.1M | $115.7M | −$15.0M | −$18.7M | −$15.7M | −$17.0M | −$18.9M | −$18.3M | −$14.4M | −$11.8M | −$9.7M |
| Interest income | $2.1M | $1.6M | $1.6M | $1.5M | $1.7M | $1.8M | $2.1M | $2.5M | $2.7M | $1.6M | $738,000 | $714,000 |
| Interest expense | $491,000 | $545,000 | $575,000 | $650,000 | $646,000 | $598,000 | $333,000 | $349,000 | $347,000 | $346,000 | $356,000 | $363,000 |
| Income before taxes | −$27.6M | −$26.2M | −$16.2M | −$14.2M | −$17.7M | −$15.2M | −$15.2M | −$16.8M | −$16.0M | −$13.4M | −$11.2M | −$9.1M |
| Income taxes | — | — | — | — | — | — | — | — | −$1 | — | −$363,000 | $363,000 |
| Net income | −$27.6M | −$26.2M | −$16.2M | −$14.2M | −$17.7M | −$15.2M | −$15.2M | −$16.8M | −$16.0M | −$13.4M | −$11.2M | −$9.1M |
| EBITDA | −$27.0M | −$25.5M | −$15.4M | −$13.4M | −$17.0M | −$14.4M | −$14.7M | −$16.3M | −$15.6M | −$13.0M | −$10.8M | −$8.7M |
| EPS (diluted) | −$0.65 | −$0.80 | −$0.45 | −$0.52 | −$0.65 | −$0.56 | −$0.52 | −$0.62 | −$0.60 | −$0.76 | −$7.77 | — |
| Gross margin | — | — | — | — | — | — | −43.1% | — | — | — | −24.7% | — |
| Operating margin | — | — | — | — | — | — | −4,314.0% | — | — | — | −3,162.6% | — |
| Net margin | — | — | — | — | — | — | −3,858.1% | — | — | — | −3,015.3% | — |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in ANRO's financial statements (latest annual report filed March 16, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
ANRO financial results
Alto Neuroscience reported no revenue in fiscal year 2025 (ended September 30, 2025). It had a net loss of $63.2 million. Diluted earnings per share came to −$2.25.
See the ANRO stock overview for the latest quote and news, or the ANRO chart for price history and technical indicators.
ANRO income statement FAQ
Does Alto Neuroscience have revenue?
Alto Neuroscience reported no revenue for fiscal year 2025, which ended on September 30, 2025.
Is Alto Neuroscience profitable?
No. Alto Neuroscience reported a net loss of $63.2 million in fiscal 2025.
How much does Alto Neuroscience spend on research and development?
Alto Neuroscience spent $45.6 million on research and development in fiscal 2025.
What are Alto Neuroscience's earnings per share?
Alto Neuroscience earned $-2.25 per diluted share in fiscal 2025, compared with $-9.75 a year earlier.
When will Alto Neuroscience report its next earnings?
Alto Neuroscience is expected to report results for the quarter ending September 30, 2026 on November 11, 2026 after the market closes.
When does Alto Neuroscience's fiscal year end?
Alto Neuroscience's fiscal year ends in September. The latest annual report covers the year ended September 30, 2025 and was filed on March 16, 2026.