Gain Therapeutics, Inc. (GANX) Income Statement
GANX 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsGANX revenue and net income
GANX profit margins
GANX 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.
GANX quarterly EPS vs estimates
Gain Therapeutics beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: November 11, 2026 (estimate $-0.13).
GANX income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $55,180 | $140,108 | $164,994 | $28,881 | $41,301 | $20,609 |
| Cost of revenue | $94,046 | $84,071 | $80,382 | $8.2M | $7.2M | $2.3M | $0 | $0 |
| Gross profit | −$94,046 | −$84,071 | $55,180 | $140,108 | $164,994 | $28,881 | $41,301 | $20,609 |
| Research & development | $10.2M | $10.8M | $11.5M | $8.4M | $7.2M | $2.3M | $1.6M | $826,880 |
| Sales, general & admin | $8.5M | $9.6M | $10.8M | $9.8M | $6.8M | $1.2M | $555,165 | $222,047 |
| Total operating expenses | $18.7M | $20.4M | $22.3M | $17.9M | $14.0M | $3.5M | $2.1M | $1.0M |
| Operating income | −$18.7M | −$20.4M | −$22.3M | −$17.8M | −$13.8M | −$3.5M | −$2.1M | −$1.0M |
| Interest income | $244,394 | $357,096 | $494,234 | $375,357 | — | — | — | — |
| Interest expense | — | — | — | $247,377 | $117,861 | $189,331 | $20,540 | $52,477 |
| Income before taxes | −$19.3M | −$19.9M | −$22.2M | −$17.5M | −$13.9M | −$3.6M | −$2.2M | −$1.1M |
| Income taxes | $861,118 | $536,815 | $79,275 | $92,976 | $4,008 | $5,386 | $7,114 | $9,781 |
| Net income | −$20.2M | −$20.4M | −$22.3M | −$17.6M | −$13.9M | −$3.6M | −$2.2M | −$1.1M |
| EBITDA | −$19.2M | −$19.8M | −$22.1M | −$17.4M | −$13.9M | −$3.5M | −$2.1M | −$1.0M |
| EPS (diluted) | −$0.61 | −$0.89 | −$1.78 | −$1.48 | −$1.45 | −$0.73 | −$0.22 | −$0.23 |
| Gross margin | — | — | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating margin | — | — | −40,328.3% | −12,688.1% | −8,379.8% | −12,047.5% | −5,084.9% | −4,989.7% |
| Net margin | — | — | −40,354.3% | −12,555.1% | −8,418.9% | −12,387.7% | −5,310.9% | −5,364.4% |
| 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 | $82,242 | $0 | $0 | $0 | $64,800 | $0 |
| Cost of revenue | — | $21,303 | −$4.9M | $22,817 | $2.7M | $2.2M | $21,307 | $275,408 | $4.4M | $2.5M | $23,589 | $250,462 |
| Gross profit | — | −$21,303 | $4.9M | −$22,817 | −$2.7M | −$2.2M | −$21,307 | −$275,408 | −$4.4M | −$2.5M | −$23,589 | −$250,462 |
| Research & development | $2.1M | $2.8M | $2.3M | $2.8M | $2.8M | $2.3M | $1.2M | $2.6M | $4.4M | $2.5M | $2.4M | $2.4M |
| Sales, general & admin | $2.5M | $2.6M | $2.1M | $1.9M | $2.4M | $2.2M | $2.1M | $1.8M | $3.8M | $1.9M | $2.0M | $2.5M |
| Total operating expenses | $4.7M | $5.4M | $4.5M | $4.8M | $5.1M | $4.4M | $3.3M | $4.5M | $8.2M | $4.4M | $4.4M | $4.9M |
| Operating income | −$4.7M | −$5.4M | −$4.5M | −$4.8M | −$5.1M | −$4.4M | −$3.3M | −$4.5M | −$8.2M | −$4.4M | −$4.4M | −$4.9M |
| Interest expense | — | — | — | — | — | — | — | — | — | — | $152,035 | — |
| Income before taxes | −$4.6M | −$5.4M | −$4.5M | −$4.7M | −$5.7M | −$4.4M | −$3.3M | −$4.5M | −$8.1M | −$4.0M | −$4.7M | −$4.7M |
| Income taxes | $104,070 | $183,066 | $70,116 | $549,288 | $141,205 | $100,509 | $504,738 | $10,994 | $1,209 | $19,874 | $14,502 | $21,456 |
| Net income | −$4.7M | −$5.6M | −$4.5M | −$5.3M | −$5.8M | −$4.5M | −$3.8M | −$4.5M | −$8.1M | −$4.0M | −$4.7M | −$4.7M |
| EBITDA | −$4.5M | −$5.4M | −$4.4M | −$4.7M | −$5.6M | −$4.4M | −$3.2M | −$4.5M | −$8.1M | −$4.0M | −$4.7M | −$4.7M |
| EPS (diluted) | −$0.11 | −$0.13 | −$0.11 | −$0.15 | −$0.19 | −$0.16 | −$0.08 | −$0.17 | −$0.42 | −$0.22 | −$0.36 | −$0.37 |
| Gross margin | — | — | — | — | — | — | −25.9% | — | — | — | −36.4% | — |
| Operating margin | — | — | — | — | — | — | −4,050.4% | — | — | — | −6,801.3% | — |
| Net margin | — | — | — | — | — | — | −4,581.9% | — | — | — | −7,290.1% | — |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in GANX's financial statements (latest annual report filed March 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
GANX financial results
Gain Therapeutics reported no revenue in fiscal year 2025 (ended December 31, 2025). It had a net loss of $20.2 million. Diluted earnings per share came to −$0.61.
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GANX income statement FAQ
Does Gain Therapeutics have revenue?
Gain Therapeutics reported no revenue for fiscal year 2025, which ended on December 31, 2025.
Is Gain Therapeutics profitable?
No. Gain Therapeutics reported a net loss of $20.2 million in fiscal 2025.
How much does Gain Therapeutics spend on research and development?
Gain Therapeutics spent $10.2 million on research and development in fiscal 2025.
What are Gain Therapeutics's earnings per share?
Gain Therapeutics earned $-0.61 per diluted share in fiscal 2025, compared with $-0.89 a year earlier.
When will Gain Therapeutics report its next earnings?
Gain Therapeutics is expected to report results for the quarter ending September 30, 2026 on November 11, 2026.
When does Gain Therapeutics's fiscal year end?
Gain Therapeutics's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 26, 2026.