Cardiff Oncology, Inc. (CRDF) Income Statement
CRDF 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsCRDF revenue and net income
Where CRDF's revenue goes
2025Each bar shows an amount and its share of revenue. CRDF kept −7,732.0% of revenue as net income.
CRDF profit margins
CRDF growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −13.2% | +15.4% | +10.1% | +6.6% |
| Gross profit | −13.2% | +15.4% | +10.1% | — |
| 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.
CRDF quarterly EPS vs estimates
Cardiff Oncology beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 5, 2026 (estimate $-0.14).
CRDF income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $593,000 | $683,000 | $488,000 | $386,000 | $359,000 | $366,000 | $244,632 | $378,000 | $505,000 | $381,000 |
| Cost of revenue | $904,000 | $404,000 | $398,000 | $200,000 | $500,000 | $11.2M | $11.2M | $597,000 | $1.8M | $1.7M |
| Gross profit | $593,000 | $683,000 | $488,000 | $386,000 | $359,000 | $366,000 | $244,632 | −$219,000 | −$1.3M | −$1.3M |
| Research & development | $35.3M | $36.9M | $32.9M | $27.1M | $17.4M | $11.2M | $11.2M | $8.2M | $7.9M | $15.0M |
| Sales, general & admin | $14.2M | $12.5M | $13.4M | $13.2M | $11.8M | $8.2M | $5.8M | $8.0M | $14.2M | $23.0M |
| Total operating expenses | $49.6M | $49.3M | $45.9M | $40.3M | $29.2M | $19.5M | $16.9M | $16.2M | $22.1M | $38.0M |
| Operating income | −$49.0M | −$48.7M | −$45.4M | −$39.9M | −$28.9M | −$19.1M | −$16.7M | −$17.1M | −$25.6M | −$40.1M |
| Interest income | $3.1M | $3.3M | $3.8M | $1.6M | $264,000 | $89,809 | $234,169 | $219,430 | $147,883 | $1.1M |
| Interest expense | — | — | — | $1.6M | $264,000 | $2,000 | $234,169 | $25,409 | $1.0M | $1.4M |
| Income before taxes | −$45.9M | −$45.4M | −$41.4M | −$38.7M | −$28.3M | −$19.3M | −$16.4M | −$16.5M | −$24.9M | −$39.2M |
| Income taxes | — | −$24,000 | $230,105 | −$1.2M | −$549,000 | −$26,725 | −$262,000 | $617,643 | $716,000 | −$296,000 |
| Net income | −$45.9M | −$45.4M | −$41.4M | −$38.7M | −$28.3M | −$19.3M | −$16.4M | −$16.5M | −$24.9M | −$39.2M |
| EBITDA | −$44.9M | −$45.0M | −$41.0M | −$38.5M | −$27.8M | −$18.8M | −$15.9M | −$15.7M | −$22.8M | −$36.8M |
| EPS (diluted) | −$0.69 | −$0.94 | −$0.93 | −$0.89 | −$0.71 | −$1.19 | −$3.02 | −$10.03 | −$42.22 | −$97.65 |
| Gross margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | −57.9% | −258.6% | −354.1% |
| Operating margin | −8,256.3% | −7,123.1% | −9,305.7% | −10,337.3% | −8,037.6% | −5,214.8% | −6,817.8% | −4,511.4% | −5,068.5% | −10,536.7% |
| Net margin | −7,732.0% | −6,651.7% | −8,492.0% | −10,026.9% | −7,880.5% | −5,275.1% | −6,709.7% | −4,354.8% | −4,932.1% | −10,289.8% |
| 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 | $104,000 | $41,000 | $243,000 | $120,000 | $121,000 | $109,000 | $151,000 | $165,000 | $163,000 | $205,000 | $156,000 | $141,000 |
| Cost of revenue | $0 | $221,000 | $223,000 | $0 | $11.6M | $0 | $96,000 | $9.6M | $105,000 | $102,000 | $103,000 | $107,000 |
| Gross profit | $104,000 | $41,000 | $243,000 | $120,000 | −$11.5M | $109,000 | $151,000 | −$9.5M | $58,000 | $103,000 | $53,000 | $34,000 |
| Research & development | $5.9M | $6.8M | $5.1M | $8.2M | $11.6M | $10.5M | $9.7M | $9.6M | $9.5M | $8.0M | $7.8M | $8.0M |
| Sales, general & admin | $3.8M | $6.1M | $3.0M | $3.9M | $3.3M | $4.0M | $3.0M | $3.1M | $3.2M | $3.2M | $4.4M | $2.9M |
| Total operating expenses | $9.7M | $12.9M | $8.1M | $12.1M | $3.3M | $14.5M | $12.7M | $3.1M | $12.6M | $11.0M | $10.4M | $10.9M |
| Operating income | −$9.6M | −$12.8M | −$7.8M | −$12.0M | −$14.8M | −$14.4M | −$12.6M | −$12.6M | −$12.5M | −$10.9M | −$10.3M | −$10.8M |
| Interest income | $382,000 | $506,000 | $612,000 | $716,000 | $835,000 | $941,000 | $787,000 | $741,000 | $805,000 | $926,000 | $1.0M | $1.1M |
| Interest expense | — | — | — | — | — | — | — | — | — | — | $829,000 | — |
| Income before taxes | −$9.2M | −$12.3M | −$7.2M | −$11.3M | −$13.9M | −$13.4M | −$11.8M | −$11.9M | −$11.8M | −$10.0M | −$9.3M | −$9.7M |
| Income taxes | — | — | — | — | — | — | — | — | — | $58,724 | $3.0M | −$1.1M |
| Net income | −$9.2M | −$12.3M | −$7.2M | −$11.3M | −$13.9M | −$13.4M | −$11.8M | −$11.9M | −$11.8M | −$10.0M | −$9.3M | −$9.7M |
| EBITDA | −$9.0M | −$12.1M | −$7.0M | −$10.8M | −$13.8M | −$13.2M | −$11.7M | −$11.8M | −$11.7M | −$9.9M | −$9.2M | −$9.6M |
| EPS (diluted) | −$0.14 | −$0.18 | −$0.11 | −$0.17 | −$0.21 | −$0.20 | −$0.21 | −$0.25 | −$0.26 | −$0.22 | −$0.21 | −$0.22 |
| Gross margin | 100.0% | 100.0% | 100.0% | 100.0% | −9,470.2% | 100.0% | 100.0% | −5,742.4% | 35.6% | 50.2% | 34.0% | 24.1% |
| Operating margin | −9,245.2% | −31,341.5% | −3,221.0% | −9,978.3% | −12,212.4% | −13,194.5% | −8,325.8% | −7,637.0% | −7,696.3% | −5,333.2% | −6,623.1% | −7,673.8% |
| Net margin | −8,876.9% | −30,109.8% | −2,969.5% | −9,381.7% | −11,523.1% | −12,324.8% | −7,806.0% | −7,184.8% | −7,225.8% | −4,883.4% | −5,985.3% | −6,901.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in CRDF's financial statements (latest annual report filed February 24, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
CRDF financial results
In fiscal year 2025 (ended December 31, 2025), Cardiff Oncology reported revenue of $0.6 million, down 13.2% from the year before. It had a net loss of $45.9 million, a net profit margin of −7,732.0%. Diluted earnings per share came to −$0.69. Over five years revenue grew at an average rate of 10.1% a year.
See the CRDF stock overview for the latest quote and news, or the CRDF chart for price history and technical indicators.
CRDF income statement FAQ
What is Cardiff Oncology's annual revenue?
Cardiff Oncology reported total revenue of $0.6 million for fiscal year 2025, which ended on December 31, 2025. That was down 13.2% from $0.7 million the previous year.
Is Cardiff Oncology profitable?
No. Cardiff Oncology reported a net loss of $45.9 million in fiscal 2025, a net profit margin of −7,732.0%; its operating margin was −8,256.3%.
What is Cardiff Oncology's gross margin?
Cardiff Oncology's gross margin was 100.0% in fiscal 2025: for every $100 of revenue, Cardiff Oncology kept $100 after the direct cost of its products and services.
How much does Cardiff Oncology spend on research and development?
Cardiff Oncology spent $35.3 million on research and development in fiscal 2025, 5,957.7% of revenue.
How fast is Cardiff Oncology growing?
Revenue grew 10.1% a year on average over the last five fiscal years, from $0.4 million to $0.6 million.
What are Cardiff Oncology's earnings per share?
Cardiff Oncology earned $-0.69 per diluted share in fiscal 2025, compared with $-0.94 a year earlier.
When will Cardiff Oncology report its next earnings?
Cardiff Oncology is expected to report results for the quarter ending September 30, 2026 on November 5, 2026.
When does Cardiff Oncology's fiscal year end?
Cardiff Oncology's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 24, 2026.