VistaGen Therapeutics, Inc. (VTGN) Income Statement
VTGN FY2026 at a glance
Fiscal year ended March 31, 2026 · U.S. dollarsVTGN revenue and net income
Where VTGN's revenue goes
FY2026Each bar shows an amount and its share of revenue. VTGN kept −5,491.3% of revenue as net income.
VTGN profit margins
VTGN growth rates
to FY2026| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +161.1% | — | +3.1% | — |
| Gross profit | +161.1% | — | +3.1% | — |
| 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.
VTGN quarterly EPS vs estimates
VistaGen Therapeutics beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 12, 2026 (estimate $-0.37).
VTGN income statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.3M | $486,000 | $1.1M | $0 | $1.1M | $1.1M | $334,000 | $0 | $0 | $1.2M |
| Cost of revenue | $0 | $635,000 | $568,000 | $509,800 | $815,200 | $0 | $103,100 | $91,200 | $80,700 | $11.4M |
| Gross profit | $1.3M | $486,000 | $1.1M | −$227,300 | $1.1M | $1.1M | −$103,100 | −$91,200 | $0 | $1.2M |
| Research & development | $55.0M | $39.4M | $20.0M | $44.4M | $35.4M | $11.9M | $13.3M | $17.1M | $7.8M | $5.2M |
| Sales, general & admin | $18.4M | $17.1M | $14.1M | $14.7M | $13.2M | $7.1M | $6.6M | $7.4M | $6.4M | $5.9M |
| Total operating expenses | $73.4M | $56.5M | $34.1M | $59.0M | $48.9M | $19.0M | $19.9M | $24.5M | $14.2M | $11.5M |
| Operating income | −$72.1M | −$56.0M | −$33.0M | −$59.3M | −$47.8M | −$17.9M | −$20.0M | −$24.6M | −$14.2M | −$10.2M |
| Interest income | $2.4M | $4.6M | $3.4M | $26,200 | $20,000 | $15,000 | $45,000 | $8,000 | $8,900 | $0 |
| Interest expense | — | — | — | $23,000 | $232,000 | $13,000 | $15,000 | $8,000 | $8,900 | $5,000 |
| Income before taxes | −$69.7M | −$51.4M | −$29.4M | −$59.2M | −$47.8M | −$17.9M | −$20.8M | −$24.6M | −$14.3M | −$10.3M |
| Income taxes | $7,000 | $7,000 | $4,000 | $5,900 | $3,400 | $2,600 | $2,600 | $2,600 | $2,400 | $2,400 |
| Net income | −$69.7M | −$51.4M | −$29.4M | −$59.2M | −$47.8M | −$17.9M | −$20.8M | −$24.6M | −$14.3M | −$10.3M |
| EBITDA | −$71.4M | −$50.8M | −$28.8M | −$58.7M | −$47.0M | −$17.4M | −$20.7M | −$24.5M | −$14.1M | −$9.8M |
| EPS (diluted) | −$1.83 | −$1.67 | −$2.07 | −$8.65 | −$4.89 | −$5.90 | −$12.97 | −$22.37 | −$16.52 | −$38.41 |
| Gross margin | 100.0% | 100.0% | 100.0% | — | 100.0% | 100.0% | −30.9% | — | — | 100.0% |
| Operating margin | −5,683.7% | −11,517.1% | −3,103.5% | — | −4,308.7% | −1,646.1% | −5,980.4% | — | — | −819.9% |
| Net margin | −5,491.3% | −10,579.8% | −2,759.6% | — | −4,307.2% | −1,646.1% | −6,219.8% | — | — | −820.4% |
| 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 | $1.5M | $465,000 | $303,000 | $258,000 | $244,000 | $0 | $234,000 | $183,000 | $84,000 | $197,300 | $411,400 | $278,000 |
| Cost of revenue | $197,000 | $389,000 | $189,000 | $0 | $169,000 | $161,000 | $161,000 | $157,000 | $151,000 | $146,500 | $143,200 | $140,300 |
| Gross profit | $1.3M | $465,000 | $114,000 | $258,000 | $75,000 | −$15,000 | $234,000 | $183,000 | $84,000 | $197,300 | $411,400 | $278,000 |
| Research & development | $10.9M | $13.1M | $14.2M | $15.9M | $11.7M | $10.2M | $11.3M | $10.2M | $7.6M | $7.4M | $4.5M | $3.9M |
| Sales, general & admin | $3.9M | $4.1M | $5.5M | $4.4M | $4.4M | $4.3M | $4.0M | $4.2M | $4.6M | $4.3M | $3.9M | $3.3M |
| Total operating expenses | $14.6M | $17.2M | $19.7M | $20.3M | $15.9M | $14.5M | $15.4M | $14.4M | $12.2M | $11.6M | $8.3M | $7.1M |
| Operating income | −$13.3M | −$16.7M | −$19.5M | −$20.1M | −$15.8M | −$14.5M | −$15.1M | −$14.2M | −$12.1M | −$11.4M | −$7.9M | −$6.8M |
| Interest income | $319,000 | $452,000 | $647,000 | $630,000 | $711,000 | $855,000 | $1.0M | $1.3M | $1.4M | — | $1.5M | $192,500 |
| Income before taxes | −$13.0M | −$16.3M | −$18.9M | −$19.4M | −$15.1M | −$13.6M | −$14.1M | −$13.0M | −$10.7M | −$9.5M | −$6.3M | −$6.6M |
| Income taxes | — | $7,000 | — | — | — | — | −$14.1M | $7,000 | −$151,000 | $1,500 | $1.53B | −$140,300 |
| Net income | −$13.0M | −$16.3M | −$18.9M | −$19.4M | −$15.1M | −$13.6M | −$14.1M | −$13.0M | −$10.7M | −$9.5M | −$6.3M | −$6.6M |
| EBITDA | −$12.8M | −$16.5M | −$18.7M | −$19.2M | −$14.9M | −$13.5M | −$13.9M | −$12.8M | −$10.6M | −$11.2M | −$7.7M | −$6.4M |
| EPS (diluted) | −$0.30 | −$0.37 | −$0.45 | −$0.54 | −$0.47 | −$0.44 | −$0.46 | −$0.42 | −$0.35 | −$0.25 | −$0.22 | −$0.66 |
| Gross margin | 86.7% | 100.0% | 37.6% | 100.0% | 30.7% | — | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating margin | −904.3% | −3,595.1% | −6,450.8% | −7,772.5% | −6,477.0% | — | −6,461.5% | −7,774.3% | −14,441.7% | −5,757.2% | −1,916.4% | −2,438.8% |
| Net margin | −882.8% | −3,499.8% | −6,237.3% | −7,526.0% | −6,186.5% | — | −6,020.9% | −7,082.5% | −12,777.4% | −4,825.8% | −1,543.5% | −2,369.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in VTGN's financial statements (latest annual report filed June 15, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
VTGN financial results
In fiscal year 2026 (ended March 31, 2026), VistaGen Therapeutics reported revenue of $1.3 million, up 161.1% from the year before. It had a net loss of $69.7 million, a net profit margin of −5,491.3%. Diluted earnings per share came to −$1.83. Over five years revenue grew at an average rate of 3.1% a year.
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VTGN income statement FAQ
What is VistaGen Therapeutics's annual revenue?
VistaGen Therapeutics reported total revenue of $1.3 million for fiscal year 2026, which ended on March 31, 2026. That was up 161.1% from $0.5 million the previous year.
Is VistaGen Therapeutics profitable?
No. VistaGen Therapeutics reported a net loss of $69.7 million in fiscal 2026, a net profit margin of −5,491.3%; its operating margin was −5,683.7%.
What is VistaGen Therapeutics's gross margin?
VistaGen Therapeutics's gross margin was 100.0% in fiscal 2026: for every $100 of revenue, VistaGen Therapeutics kept $100 after the direct cost of its products and services.
How much does VistaGen Therapeutics spend on research and development?
VistaGen Therapeutics spent $55.0 million on research and development in fiscal 2026, 4,332.1% of revenue.
How fast is VistaGen Therapeutics growing?
Revenue grew 3.1% a year on average over the last five fiscal years, from $1.1 million to $1.3 million.
What are VistaGen Therapeutics's earnings per share?
VistaGen Therapeutics earned $-1.83 per diluted share in fiscal 2026, compared with $-1.67 a year earlier.
When will VistaGen Therapeutics report its next earnings?
VistaGen Therapeutics is expected to report results for the quarter ending September 30, 2026 on November 12, 2026 before the market opens.
When does VistaGen Therapeutics's fiscal year end?
VistaGen Therapeutics's fiscal year ends in March. The latest annual report covers the year ended March 31, 2026 and was filed on June 15, 2026.