Cingulate Inc. (CING) Income Statement
CING 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsCING revenue and net income
CING 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.
CING quarterly EPS vs estimates
Cingulate beat the analyst EPS estimate in 3 of the last 8 quarters. Next report: November 12, 2026 (estimate $-0.48).
CING income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cost of revenue | $540,894 | $653,090 | $582,918 | $621,993 | $808,441 | $842,353 | $178,912 |
| Gross profit | −$540,894 | −$653,090 | −$582,918 | −$621,993 | −$808,441 | −$842,353 | −$178,912 |
| Research & development | $9.8M | $9.4M | $15.5M | $9.0M | $8.4M | $5.1M | $9.1M |
| Sales, general & admin | $10.2M | $6.2M | $7.3M | $8.5M | $12.3M | $2.0M | $2.6M |
| Total operating expenses | $19.9M | $15.6M | $22.8M | $17.5M | $20.7M | $6.2M | $11.5M |
| Operating income | −$19.9M | −$15.6M | −$22.8M | −$17.5M | −$20.7M | −$7.1M | −$11.6M |
| Interest expense | $924,446 | $99,000 | $776,000 | $174,000 | $33,407 | $54,605 | $0 |
| Income before taxes | −$22.4M | −$16.6M | −$23.5M | −$17.7M | −$20.7M | −$7.2M | −$11.5M |
| Income taxes | — | −$263 | $2 | $174,000 | $30,502 | $99,338 | −$100,528 |
| Net income | −$22.4M | −$16.6M | −$23.5M | −$17.9M | −$20.7M | −$7.2M | −$11.5M |
| EBITDA | −$19.4M | −$15.0M | −$22.2M | −$17.1M | −$20.0M | −$6.2M | −$11.5M |
| EPS (diluted) | −$4.32 | −$30.18 | −$300.46 | −$278.81 | −$2.05 | −$5.08 | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Sep '23 | Jun '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $12.98B | $0 | $0 | $0 | $0 | $0 |
| Cost of revenue | — | $121,185 | −$419,062 | $106,782 | $146,989 | $165,291 | $160,302 | $165,406 | $163,781 | $172,325 | $154,663 | $155,301 |
| Gross profit | — | −$121,185 | $419,062 | −$106,782 | −$146,989 | −$165,291 | −$160,302 | −$165,406 | −$163,781 | −$172,325 | −$154,663 | −$155,301 |
| Research & development | $1.5M | $2.2M | $2.0M | $2.8M | $2.7M | $2.2M | $4.3M | $1.4M | $1.9M | $1.8M | $3.9M | $4.5M |
| Sales, general & admin | $3.9M | $5.7M | $3.6M | $3.1M | $1.9M | $1.5M | $1.9M | $1.9M | $1.3M | $1.1M | $1.8M | $1.9M |
| Total operating expenses | $5.4M | $7.9M | $5.6M | $6.0M | $4.6M | $3.7M | $6.2M | $3.3M | $3.2M | $2.9M | $5.7M | $6.4M |
| Operating income | −$5.4M | −$7.9M | −$5.6M | −$6.0M | −$4.6M | −$3.7M | −$6.2M | −$3.3M | −$3.2M | −$2.9M | −$5.7M | −$6.4M |
| Interest expense | $141,276 | — | $1.4M | $573.1M | $138.8M | $96.7M | $99,000 | $50.5M | $3,497 | $408.3M | $229,380 | $253.9M |
| Income before taxes | −$5.9M | −$9.3M | −$6.3M | −$7.3M | −$4.8M | −$3.9M | −$6.1M | −$4.1M | −$3.2M | −$3.0M | −$6.0M | −$6.6M |
| Income taxes | — | — | — | — | — | — | — | — | — | −$163,600 | −$154,663 | $6.11B |
| Net income | −$5.9M | −$9.3M | −$6.3M | −$7.3M | −$4.8M | −$3.9M | −$6.1M | −$4.1M | −$3.2M | −$3.0M | −$6.0M | −$6.6M |
| EBITDA | −$5.6M | −$7.8M | −$5.5M | −$5.9M | −$4.5M | −$3.5M | −$6.0M | −$3.1M | −$3.0M | −$2.8M | −$5.6M | −$6.2M |
| EPS (diluted) | −$0.45 | −$0.95 | −$0.84 | −$1.35 | −$1.09 | −$1.04 | −$3.68 | −$1.83 | −$5.47 | −$19.20 | −$72.00 | −$136.80 |
| Gross margin | — | — | — | — | — | — | −0.0% | — | — | — | — | — |
| Operating margin | — | — | — | — | — | — | −0.0% | — | — | — | — | — |
| Net margin | — | — | — | — | — | — | −0.0% | — | — | — | — | — |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in CING's financial statements (latest annual report filed March 18, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
CING financial results
Cingulate reported no revenue in fiscal year 2025 (ended December 31, 2025). It had a net loss of $22.4 million. Diluted earnings per share came to −$4.32.
See the CING stock overview for the latest quote and news, or the CING chart for price history and technical indicators.
CING income statement FAQ
Does Cingulate have revenue?
Cingulate reported no revenue for fiscal year 2025, which ended on December 31, 2025.
Is Cingulate profitable?
No. Cingulate reported a net loss of $22.4 million in fiscal 2025.
How much does Cingulate spend on research and development?
Cingulate spent $9.8 million on research and development in fiscal 2025.
What are Cingulate's earnings per share?
Cingulate earned $-4.32 per diluted share in fiscal 2025, compared with $-30.18 a year earlier.
When will Cingulate report its next earnings?
Cingulate is expected to report results for the quarter ending September 30, 2026 on November 12, 2026.
When does Cingulate's fiscal year end?
Cingulate's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 18, 2026.