MoonLake Immunotherapeutics (MLTX) Income Statement
MLTX 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsMLTX revenue and net income
MLTX 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.
MLTX quarterly EPS vs estimates
MoonLake Immunotherapeutics beat the analyst EPS estimate in 3 of the last 8 quarters. Next report: November 4, 2026 (estimate $-0.77).
MLTX income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 |
| Cost of revenue | $2.6M | $1.4M | $13,158 | $12,358 | $4,971 | — |
| Gross profit | −$2.6M | −$1.4M | −$13,158 | −$12,358 | −$4,971 | — |
| Research & development | $202.9M | $112.8M | $31.8M | $42.0M | $35.5M | — |
| Sales, general & admin | $42.0M | $30.3M | $22.3M | $23.0M | $4.6M | — |
| Total operating expenses | $242.2M | $143.1M | $54.1M | $65.1M | $4.6M | $105,755 |
| Operating income | −$244.8M | −$143.1M | −$54.1M | −$65.1M | −$4.6M | −$105,755 |
| Interest expense | $7.2M | $0 | $0 | $591,732 | $0 | — |
| Income before taxes | −$229.7M | −$121.0M | −$44.0M | −$64.5M | −$4.5M | −$90,838 |
| Income taxes | $611,000 | $282,199 | $94,388 | $36,366 | $5,706 | −$206,297 |
| Net income | −$227.3M | −$118.9M | −$36.0M | −$64.5M | −$4.5M | −$90,838 |
| EBITDA | −$219.8M | −$119.6M | −$43.6M | −$65.0M | −$4.6M | −$90,838 |
| EPS (diluted) | −$3.52 | −$1.89 | −$0.76 | −$1.39 | −$0.31 | −$0.01 |
| 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 | $101,850 | $0 | $0 | $19,738 | $19,738 | $0 |
| Cost of revenue | — | $845,000 | $751,000 | $745,000 | $742,000 | $378,000 | $50,925 | $32,515 | $28,112 | $22,813 | $3,289 | $3,290 |
| Gross profit | — | −$845,000 | −$751,000 | −$745,000 | −$742,000 | −$378,000 | $50,925 | −$32,515 | −$28,112 | −$22,813 | $16,449 | −$3,290 |
| Research & development | $50.2M | $53.7M | $57.5M | $60.6M | $49.0M | $36.5M | $40.4M | $35.7M | $23.7M | $13.0M | $8.1M | $7.6M |
| Sales, general & admin | $11.4M | $15.5M | $9.2M | $10.8M | $10.9M | $11.0M | $9.2M | $7.4M | $6.9M | $6.8M | $6.9M | $5.4M |
| Total operating expenses | $61.7M | $69.2M | $64.5M | $71.4M | $60.0M | $47.5M | $49.6M | $43.1M | $30.6M | $19.8M | $15.0M | $13.0M |
| Operating income | −$61.7M | −$70.0M | −$65.2M | −$71.4M | −$60.7M | −$47.5M | −$49.6M | −$43.1M | −$30.6M | −$19.8M | −$15.0M | −$13.0M |
| Interest expense | $2.6M | $2.3M | $2.0M | $3.2M | $2.0M | $18,000 | — | — | $0 | $3.9M | $3.9M | — |
| Income before taxes | −$61.7M | −$69.1M | −$62.8M | −$70.6M | −$56.0M | −$40.4M | −$46.4M | −$36.0M | −$24.7M | −$13.9M | −$7.8M | −$11.6M |
| Income taxes | $90,000 | $622,000 | $248,000 | $115,000 | $95,000 | $153,000 | $41,140 | $92,106 | $79,000 | $70,000 | $44,308 | $28,923 |
| Net income | −$61.8M | −$69.7M | −$62.4M | −$69.7M | −$55.2M | −$39.9M | −$45.6M | −$35.4M | −$24.3M | −$13.7M | −$7.4M | −$9.4M |
| EBITDA | −$58.2M | −$66.0M | −$60.0M | −$66.6M | −$53.2M | −$40.0M | −$45.1M | −$36.0M | −$24.3M | −$13.6M | −$7.8M | −$11.6M |
| EPS (diluted) | −$0.84 | −$0.98 | −$0.92 | −$1.10 | −$0.87 | −$0.63 | −$0.72 | −$0.56 | −$0.39 | −$0.22 | −$0.12 | −$0.18 |
| Gross margin | — | — | — | — | — | — | 50.0% | — | — | −115.6% | 83.3% | — |
| Operating margin | — | — | — | — | — | — | −48,679.8% | — | — | −100,415.4% | −76,141.9% | — |
| Net margin | — | — | — | — | — | — | −44,776.2% | — | — | −69,272.5% | −37,679.0% | — |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MLTX's financial statements (latest annual report filed February 25, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MLTX financial results
MoonLake Immunotherapeutics reported no revenue in fiscal year 2025 (ended December 31, 2025). It had a net loss of $227.3 million. Diluted earnings per share came to −$3.52.
See the MLTX stock overview for the latest quote and news, or the MLTX chart for price history and technical indicators.
MLTX income statement FAQ
Does MoonLake Immunotherapeutics have revenue?
MoonLake Immunotherapeutics reported no revenue for fiscal year 2025, which ended on December 31, 2025.
Is MoonLake Immunotherapeutics profitable?
No. MoonLake Immunotherapeutics reported a net loss of $227.3 million in fiscal 2025.
How much does MoonLake Immunotherapeutics spend on research and development?
MoonLake Immunotherapeutics spent $202.9 million on research and development in fiscal 2025.
What are MoonLake Immunotherapeutics's earnings per share?
MoonLake Immunotherapeutics earned $-3.52 per diluted share in fiscal 2025, compared with $-1.89 a year earlier.
When will MoonLake Immunotherapeutics report its next earnings?
MoonLake Immunotherapeutics is expected to report results for the quarter ending September 30, 2026 on November 4, 2026.
When does MoonLake Immunotherapeutics's fiscal year end?
MoonLake Immunotherapeutics's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 25, 2026.