Crescent Biopharma, Inc. (CBIO) Income Statement
CBIO 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsCBIO revenue and net income
Where CBIO's revenue goes
2025Each bar shows an amount and its share of revenue. CBIO kept −1,419.6% of revenue as net income.
CBIO profit margins
CBIO growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | — | +424.9% | +1.3% | −6.0% |
| Gross profit | — | +424.9% | +1.3% | −6.0% |
| 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.
CBIO quarterly EPS vs estimates
Crescent Biopharma beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 5, 2026 (estimate $-0.72).
CBIO income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $10.8M | $0 | $10,000 | $75,000 | $1.2M | $10.2M | $0 | $0 | $0 | $18,500 |
| Cost of revenue | $84,000 | $35,174 | $153,301 | $1.0M | $0 | $951,599 | $899,302 | $275,123 | $263,541 | $0 |
| Gross profit | $10.8M | −$35,174 | $10,000 | $75,000 | $1.2M | $10.2M | −$899,302 | −$275,123 | −$263,541 | $18,500 |
| Research & development | $138.1M | $28.1M | $20.1M | $28.4M | $47.5M | $44.9M | $47.0M | $40.1M | $24.1M | $23.3M |
| Sales, general & admin | $25.4M | $16.3M | $19.2M | $19.1M | $17.1M | $16.7M | $14.4M | $11.4M | $9.8M | $8.7M |
| Total operating expenses | $163.5M | $49.9M | $39.3M | $47.5M | $64.6M | $61.7M | $61.4M | $51.5M | $33.7M | $31.9M |
| Operating income | −$152.6M | −$49.9M | −$39.3M | −$47.4M | −$63.4M | −$51.5M | −$61.4M | −$51.5M | −$33.9M | −$31.9M |
| Interest income | $2.9M | — | — | — | — | — | — | — | — | — |
| Interest expense | $2.2M | $852,000 | — | — | — | — | — | — | — | — |
| Income before taxes | −$151.9M | −$48.5M | −$36.9M | −$46.7M | −$63.4M | −$51.0M | −$57.9M | −$48.3M | −$33.3M | −$31.8M |
| Income taxes | $2.0M | — | — | — | — | — | −$3.8M | $3.2M | — | — |
| Net income | −$153.9M | −$48.5M | −$36.9M | −$46.7M | −$63.4M | −$51.0M | −$54.1M | −$48.3M | −$33.3M | −$31.8M |
| EBITDA | −$149.7M | −$44.2M | −$39.1M | −$47.2M | −$63.2M | −$51.2M | −$57.0M | −$51.2M | −$33.7M | −$31.7M |
| EPS (diluted) | −$27.49 | −$15.64 | −$0.58 | −$0.88 | −$1.23 | −$1.11 | −$1.35 | −$1.18 | −$1.15 | −$81.09 |
| Gross margin | 100.0% | — | 100.0% | 100.0% | 100.0% | 100.0% | — | — | — | 100.0% |
| Operating margin | −1,407.5% | — | −392,752.9% | −63,204.4% | −5,470.7% | −506.8% | — | — | — | −172,505.3% |
| Net margin | −1,419.6% | — | −368,994.2% | −62,251.7% | −5,469.0% | −502.1% | — | — | — | −171,945.1% |
| 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 | $1.0M | $10.8M | $30.6M | $0 | $0 | $0 | $0 | $0 | $0 | $10,000 | $0 |
| Cost of revenue | — | $0 | $54,000 | $1.6M | $2,000 | — | $27,043 | $8,130 | $12,423 | $14,620 | $23,297 | $269,937 |
| Gross profit | — | $1.0M | $10.8M | $28.9M | −$2,000 | — | $27,043 | −$8,130 | −$12,423 | −$14,620 | $10,000 | −$269,937 |
| Research & development | $19.4M | $17.9M | $95.0M | $20.3M | $12.1M | $10.6M | $14.0M | $1.7M | $6.3M | $6.0M | $5.3M | $5.3M |
| Sales, general & admin | $8.7M | $7.9M | $7.3M | $5.5M | $8.9M | $3.6M | $3.2M | $4.0M | $4.1M | $5.1M | $4.3M | $4.5M |
| Total operating expenses | $26.4M | $25.8M | $102.3M | $25.9M | $21.0M | $14.2M | $17.2M | $11.2M | $10.4M | $11.1M | $9.6M | $9.8M |
| Operating income | −$26.4M | −$24.7M | −$91.5M | −$25.9M | −$21.0M | −$14.2M | −$17.2M | −$11.2M | −$10.4M | −$11.1M | −$9.6M | −$9.8M |
| Interest income | $1.5M | $1.4M | $1.1M | $1.3M | $313,000 | $188,000 | $176,000 | — | — | — | — | — |
| Interest expense | $0 | $0 | $3.3M | $0 | $1.1M | $1.1M | $852,000 | — | — | — | — | — |
| Income before taxes | −$24.8M | −$23.3M | −$90.4M | −$24.6M | −$21.8M | −$15.1M | −$17.9M | −$9.8M | −$10.1M | −$10.7M | −$9.1M | −$9.2M |
| Income taxes | — | — | $2.0M | — | — | — | — | — | — | — | — | — |
| Net income | −$22.7M | −$23.3M | −$92.4M | −$24.6M | −$21.8M | −$15.1M | −$17.9M | −$9.8M | −$10.1M | −$10.7M | −$9.1M | −$9.2M |
| EBITDA | −$24.8M | −$23.2M | −$90.3M | −$24.6M | −$20.7M | −$14.0M | $18.1M | −$5.7M | −$10.3M | −$11.1M | −$9.6M | −$9.8M |
| EPS (diluted) | −$0.74 | −$0.70 | −$4.01 | −$1.37 | −$3.72 | −$18.39 | −$0.08 | −$15.24 | −$0.15 | −$0.17 | −$0.14 | −$0.14 |
| Gross margin | — | 100.0% | 100.0% | 94.7% | — | — | — | — | — | — | 100.0% | — |
| Operating margin | — | −2,380.1% | −843.7% | −84.7% | — | — | — | — | — | — | −95,908.3% | — |
| Net margin | — | −2,240.9% | −852.1% | −80.5% | — | — | — | — | — | — | −90,786.4% | — |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in CBIO's financial statements (latest annual report filed February 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
CBIO financial results
In fiscal year 2025 (ended December 31, 2025), Crescent Biopharma reported revenue of $10.8 million. It had a net loss of $153.9 million, a net profit margin of −1,419.6%. Diluted earnings per share came to −$27.49. Over five years revenue grew at an average rate of 1.3% a year.
See the CBIO stock overview for the latest quote and news, or the CBIO chart for price history and technical indicators.
CBIO income statement FAQ
What is Crescent Biopharma's annual revenue?
Crescent Biopharma reported total revenue of $10.8 million for fiscal year 2025, which ended on December 31, 2025.
Is Crescent Biopharma profitable?
No. Crescent Biopharma reported a net loss of $153.9 million in fiscal 2025, a net profit margin of −1,419.6%; its operating margin was −1,407.5%.
What is Crescent Biopharma's gross margin?
Crescent Biopharma's gross margin was 100.0% in fiscal 2025: for every $100 of revenue, Crescent Biopharma kept $100 after the direct cost of its products and services.
How much does Crescent Biopharma spend on research and development?
Crescent Biopharma spent $138.1 million on research and development in fiscal 2025, 1,273.4% of revenue.
How fast is Crescent Biopharma growing?
Revenue grew 1.3% a year on average over the last five fiscal years, from $10.2 million to $10.8 million.
What are Crescent Biopharma's earnings per share?
Crescent Biopharma earned $-27.49 per diluted share in fiscal 2025, compared with $-15.64 a year earlier.
When will Crescent Biopharma report its next earnings?
Crescent Biopharma is expected to report results for the quarter ending September 30, 2026 on November 5, 2026.
When does Crescent Biopharma's fiscal year end?
Crescent Biopharma's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 26, 2026.