Calidi Biotherapeutics, Inc. (CLDI) Income Statement
CLDI 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsCLDI revenue and net income
CLDI profit margins
CLDI 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.
CLDI quarterly EPS vs estimates
Calidi Biotherapeutics beat the analyst EPS estimate in 3 of the last 7 quarters. Next report: November 12, 2026.
CLDI income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $45,000 | $449,000 | $0 |
| Cost of revenue | $1.7M | $1.5M | $1.3M | $274,000 | $94,000 | $0 |
| Gross profit | −$1.7M | −$1.5M | −$1.3M | −$229,000 | $355,000 | $0 |
| Research & development | $9.7M | $8.9M | $13.0M | $7.3M | $4.7M | $3.2M |
| Sales, general & admin | $10.5M | $12.9M | $16.0M | $15.9M | $6.2M | $3.6M |
| Total operating expenses | $18.6M | $21.8M | $27.7M | $22.9M | $10.8M | $6.8M |
| Operating income | −$20.2M | −$21.8M | −$29.0M | −$23.1M | −$10.5M | −$6.8M |
| Interest expense | $207,000 | $933,000 | $3.7M | $158,000 | $614,000 | $163,000 |
| Income before taxes | −$20.0M | −$22.2M | −$29.2M | −$25.4M | $3.4M | −$7.9M |
| Income taxes | $15,000 | $14,000 | $16,000 | $11,000 | $11,000 | $4,000 |
| Net income | −$19.9M | −$22.1M | −$29.2M | −$25.4M | −$10.9M | −$7.9M |
| EBITDA | −$18.2M | −$19.7M | −$24.2M | −$25.0M | −$9.4M | −$6.7M |
| EPS (diluted) | −$44.13 | −$48.58 | −$91.37 | −$0.05 | $0.12 | — |
| Gross margin | — | — | — | −508.9% | 79.1% | — |
| Operating margin | — | — | — | −51,395.6% | −2,334.5% | — |
| Net margin | — | — | — | −56,504.4% | −2,435.0% | — |
| 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 | $1.5M | $0 | $0 | $0 | $0 | $0 |
| Cost of revenue | — | $426,000 | $423,000 | $427,000 | $407,000 | $394,000 | $393,000 | $390,000 | $374,000 | $374,000 | $364,000 | $100,000 |
| Gross profit | — | −$426,000 | −$423,000 | −$427,000 | −$407,000 | −$394,000 | −$393,000 | −$390,000 | −$374,000 | −$374,000 | −$364,000 | −$100,000 |
| Research & development | $2.6M | $2.6M | $2.4M | $2.4M | $2.6M | $2.4M | $1.8M | $2.2M | $2.2M | $2.7M | $4.0M | $3.3M |
| Sales, general & admin | $1.6M | $1.6M | $2.1M | $2.7M | $3.1M | $2.6M | $2.2M | $3.1M | $3.6M | $4.0M | $5.9M | $4.0M |
| Total operating expenses | $4.2M | $3.8M | $4.5M | $5.0M | $5.7M | $5.1M | $3.6M | $5.2M | $5.8M | $6.4M | $9.5M | $7.1M |
| Operating income | −$4.2M | −$4.2M | −$4.5M | −$5.0M | −$5.7M | −$5.1M | −$4.0M | −$5.2M | −$5.8M | −$6.8M | −$9.8M | −$7.2M |
| Interest expense | $35,000 | $38,000 | $42,000 | $41,000 | $52,000 | $72,000 | $175,000 | $232,000 | $273,000 | $253,000 | $222,000 | $324,000 |
| Income before taxes | −$4.2M | −$4.1M | −$4.1M | −$5.2M | −$5.8M | −$5.1M | −$4.1M | −$5.1M | −$5.8M | −$7.2M | −$8.2M | −$2.0M |
| Income taxes | $5,000 | $4,000 | −$2,000 | $10,000 | $4,000 | $3,000 | $3,000 | −$1,000 | $8,000 | $4,000 | −$3,000 | $11,000 |
| Net income | −$4.2M | −$4.1M | −$4.1M | −$5.1M | −$5.7M | −$5.0M | −$4.1M | −$5.1M | −$5.8M | −$7.2M | −$8.2M | −$2.0M |
| EBITDA | −$3.7M | −$3.6M | −$3.6M | −$4.7M | −$5.3M | −$4.6M | −$3.6M | −$4.4M | −$5.1M | −$6.6M | −$7.6M | −$1.3M |
| EPS (diluted) | −$2.94 | — | — | −$2.21 | −$1.99 | −$2.25 | −$0.27 | −$7.80 | −$16.80 | −$23.71 | −$0.48 | −$63.43 |
| Gross margin | — | — | — | — | — | — | −26.1% | — | — | — | — | — |
| Operating margin | — | — | — | — | — | — | −267.7% | — | — | — | — | — |
| Net margin | — | — | — | — | — | — | −272.4% | — | — | — | — | — |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in CLDI's financial statements (latest annual report filed March 27, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
CLDI financial results
Calidi Biotherapeutics reported no revenue in fiscal year 2025 (ended December 31, 2025). It had a net loss of $19.9 million. Diluted earnings per share came to −$44.13.
See the CLDI stock overview for the latest quote and news, or the CLDI chart for price history and technical indicators.
CLDI income statement FAQ
Does Calidi Biotherapeutics have revenue?
Calidi Biotherapeutics reported no revenue for fiscal year 2025, which ended on December 31, 2025.
Is Calidi Biotherapeutics profitable?
No. Calidi Biotherapeutics reported a net loss of $19.9 million in fiscal 2025.
How much does Calidi Biotherapeutics spend on research and development?
Calidi Biotherapeutics spent $9.7 million on research and development in fiscal 2025.
What are Calidi Biotherapeutics's earnings per share?
Calidi Biotherapeutics earned $-44.13 per diluted share in fiscal 2025, compared with $-48.58 a year earlier.
When will Calidi Biotherapeutics report its next earnings?
Calidi Biotherapeutics is expected to report results for the quarter ending September 30, 2026 on November 12, 2026.
When does Calidi Biotherapeutics's fiscal year end?
Calidi Biotherapeutics's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 27, 2026.