NASDAQ · Financial Statements

Annexon, Inc. (ANNX) Financial Statements

$3.75 NASDAQ: ANNX Market Cap $614.41M

Annexon, Inc. most recently reported annual revenue of $0, a net loss of $207.0M. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Annexon, Inc.: net profit was positive in 0 of 9 reported years; the most recent year shows a net loss of $207.0M.

Income Statement — 9 Years (USD millions)

Metric201720182019202020212022202320242025
Revenue$0$0$0$0$0$0$0$0$0
Operating Expenses$20.0M$19.0M$33.0M$63.0M$131.0M$146.0M$144.0M$154.0M$216.0M
Operating Profit$-20.0M$-19.0M$-33.0M$-63.0M$-131.0M$-146.0M$-144.0M$-154.0M$-216.0M
Operating Margin0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Other Income$2.0M$1.0M$-5.0M$0$0$4.0M$9.0M$16.0M$10.0M
Interest$0$0$0$0$0$0$0$0$0
Depreciation$0$0$0$1.0M$2.0M$2.0M$2.0M$3.0M$3.0M
Profit Before Tax$-19.0M$-18.0M$-37.0M$-63.0M$-130.0M$-142.0M$-134.0M$-138.0M$-207.0M
Tax$-10,000$-10,000$-10,000$0$0$0$0$0$0
Net Profit$-19.0M$-18.0M$-37.0M$-63.0M$-130.0M$-142.0M$-134.0M$-138.0M$-207.0M
EPS$-0.49$-1.60$-0.97$-3.70$-3.34$-2.60$-1.77$-1.01$-1.34
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$0$0$0$0$0$0$0$0$0$0$0$0
Operating Expenses$35.0M$30.0M$29.0M$34.0M$39.0M$52.0M$57.0M$52.0M$57.0M$50.0M$46.0M$57.0M
Operating Profit$-35.0M$-30.0M$-29.0M$-34.0M$-39.0M$-52.0M$-57.0M$-52.0M$-57.0M$-50.0M$-46.0M$-57.0M
Operating Margin0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Interest$0$0$0$0$0$0$0$0$0$0$0$0
Profit Before Tax$-32.0M$-28.0M$-25.0M$-30.0M$-35.0M$-49.0M$-54.0M$-49.0M$-55.0M$-48.0M$-44.0M$-55.0M
Tax$0$0$0$0$0$0$0$0$0$0$0$0
Net Profit$-32.0M$-28.0M$-25.0M$-30.0M$-35.0M$-49.0M$-54.0M$-49.0M$-55.0M$-48.0M$-44.0M$-55.0M
EPS$-0.43$-0.36$-0.21$-0.23$-0.25$-0.33$-0.37$-0.34$-0.37$-0.28$-0.23$-0.28

Over the 9 years reported for Annexon, Inc., borrowings decreased from $49.0M in 2017 to $26.0M in 2025, cash stood at $162.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 5.63 times.

Balance Sheet — 9 Years (USD millions)

Metric201720182019202020212022202320242025
Total Assets$8.0M$48.0M$50.0M$356.0M$287.0M$285.0M$298.0M$350.0M$278.0M
Current Assets$5.0M$46.0M$45.0M$354.0M$248.0M$248.0M$264.0M$316.0M$242.0M
Cash$3.0M$44.0M$44.0M$269.0M$75.0M$140.0M$225.0M$49.0M$162.0M
Inventory$0$0$0$0$0$0$0$0$0
Receivables$1.0M$0$0$0$0$0$0$0$0
Fixed Assets$3.0M$2.0M$2.0M$2.0M$38.0M$36.0M$33.0M$29.0M$26.0M
Capital Work in Progress$0$0$0$0$0$0$0$0$0
Investments$0$0$0$83.0M$168.0M$104.0M$35.0M$263.0M$76.0M
Other Assets$0$0$0$0$0$0$0$0$0
Total Liabilities$54.0M$10.0M$6.0M$12.0M$55.0M$54.0M$47.0M$57.0M$66.0M
Current Liabilities$3.0M$3.0M$5.0M$11.0M$22.0M$22.0M$18.0M$31.0M$43.0M
Borrowings$49.0M$107.0M$0$0$35.0M$33.0M$31.0M$29.0M$26.0M
Other Liabilities$5.0M$0$6.0M$12.0M$21.0M$21.0M$16.0M$28.0M$40.0M
Equity$0$0$0$0$0$0$0$0$0
Reserves$-46.0M$38.0M$44.0M$344.0M$232.0M$231.0M$251.0M$293.0M$212.0M

For Annexon, Inc., operating cash flow was positive in 0 of 9 reported years; free cash flow in the latest year was negative at $186.0M; free cash flow was positive in 0 of 9 years; financing activities used $2.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 9 Years (USD millions)

Metric201720182019202020212022202320242025
Operating Cash Flow$-19.0M$-17.0M$-28.0M$-53.0M$-106.0M$-116.0M$-121.0M$-118.0M$-186.0M
Investing Cash Flow$-1.0M$0$-1.0M$-84.0M$-90.0M$52.0M$71.0M$-219.0M$190.0M
Financing Cash Flow$0$0$-2.0M$3.0M$0$-8.0M$0$-1.0M$-2.0M
Net Cash Flow$-20.0M$41.0M$0$225.0M$-194.0M$65.0M$85.0M$-176.0M$113.0M
Free Cash Flow$-20.0M$-17.0M$-29.0M$-54.0M$-108.0M$-123.0M$-121.0M$-118.0M$-186.0M

Valuation & Return Ratios

MetricValue
PEG Ratio-0.42
EV / EBITDA-2.56
FCF Yield-28.15%
Quick Ratio5.53
Interest Coverage—
Return 1Y113.71%
Return 3Y61.59%
Return 5Y-75.26%

Annexon, Inc. (ANNX) financials — frequently asked questions

What is Annexon, Inc.'s annual revenue?

Annexon, Inc. (ANNX) reported annual revenue of $0 in its most recent fiscal year.

What is Annexon, Inc.'s net profit?

Annexon, Inc. (ANNX) reported a net loss of $207.0M in its most recent fiscal year.

What is ANNX EV/EBITDA?

Annexon, Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is -2.56. A negative value means EBITDA was negative over the period, so the ratio is not a meaningful valuation measure.

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Data for information only, not investment advice. Figures may be delayed or inaccurate; verify against company filings. See our disclaimer.