NASDAQ · Financial Statements

AN2 Therapeutics, Inc. (ANTX) Financial Statements

$3.55 NASDAQ: ANTX Market Cap $133.96M

AN2 Therapeutics, Inc. most recently reported annual revenue of $0, a net loss of $35.0M. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

AN2 Therapeutics, Inc.: net profit was positive in 0 of 7 reported years; the most recent year shows a net loss of $35.0M.

Income Statement — 7 Years (USD millions)

Metric2019202020212022202320242025
Revenue$0$0$0$0$0$0$0
Operating Expenses$31.0M$7.0M$22.0M$42.0M$70.0M$55.0M$38.0M
Operating Profit$-31.0M$-7.0M$-22.0M$-42.0M$-70.0M$-55.0M$-38.0M
Operating Margin0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Other Income$-3.0M$-6.0M$0$1.0M$5.0M$3.0M$3.0M
Interest$0$0$0$1.0M$0$0$0
Depreciation$31.0M$7.0M$0$0$70.0M$55.0M$0
Profit Before Tax$-34.0M$-14.0M$-22.0M$-41.0M$-65.0M$-51.0M$-35.0M
Tax$0$0$0$0$0$0$0
Net Profit$-34.0M$-14.0M$-22.0M$-41.0M$-65.0M$-51.0M$-35.0M
EPS$-0.30$-0.78$-1.50$-2.79$-2.74$-1.72$-1.16
Dividend Payout0.0%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$18.0M$19.0M$18.0M$16.0M$14.0M$9.0M$12.0M$7.0M$10.0M$9.0M$11.0M$9.0M
Operating Profit$-18.0M$-19.0M$-18.0M$-16.0M$-14.0M$-9.0M$-12.0M$-7.0M$-10.0M$-9.0M$-11.0M$-9.0M
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$0
Profit Before Tax$-17.0M$-17.0M$-17.0M$-14.0M$-13.0M$-8.0M$-11.0M$-6.0M$-9.0M$-9.0M$-10.0M$-8.0M
Tax$0$0$0$0$0$0$0$0$0$0$0$0
Net Profit$-17.0M$-17.0M$-17.0M$-14.0M$-13.0M$-8.0M$-11.0M$-6.0M$-9.0M$-9.0M$-10.0M$-8.0M
EPS$-0.65$-0.57$-0.56$-0.48$-0.43$-0.25$-0.35$-0.21$-0.31$-0.29$-0.29$-0.18

Over the 7 years reported for AN2 Therapeutics, Inc., borrowings decreased from $1.0M in 2019 to $0 in 2025, cash stood at $20.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 6.67 times.

Balance Sheet — 7 Years (USD millions)

Metric2019202020212022202320242025
Total Assets$6.0M$4.0M$65.0M$103.0M$139.0M$92.0M$62.0M
Current Assets$6.0M$4.0M$60.0M$99.0M$111.0M$86.0M$60.0M
Cash$6.0M$4.0M$12.0M$27.0M$16.0M$21.0M$20.0M
Inventory$0$0$0$0$0$0$0
Receivables$0$0$0$0$0$0$1.0M
Fixed Assets$0$0$0$0$0$0$0
Capital Work in Progress$0$0$0$0$0$0$0
Investments$0$0$50.0M$72.0M$119.0M$67.0M$40.0M
Other Assets$0$0$0$0$0$0$0
Total Liabilities$1.0M$1.0M$3.0M$7.0M$14.0M$10.0M$9.0M
Current Liabilities$0$1.0M$3.0M$7.0M$14.0M$10.0M$9.0M
Borrowings$1.0M$0$0$0$0$0$0
Other Liabilities$0$1.0M$3.0M$7.0M$14.0M$10.0M$9.0M
Equity$0$0$0$0$0$0$0
Reserves$5.0M$3.0M$62.0M$95.0M$125.0M$82.0M$53.0M

For AN2 Therapeutics, Inc., operating cash flow was positive in 0 of 7 reported years; free cash flow in the latest year was negative at $30.0M; free cash flow was positive in 0 of 7 years.

Cash Flow Statement — 7 Years (USD millions)

Metric2019202020212022202320242025
Operating Cash Flow$-2.0M$-5.0M$-20.0M$-33.0M$-53.0M$-49.0M$-30.0M
Investing Cash Flow$0$0$-50.0M$-22.0M$-43.0M$55.0M$28.0M
Financing Cash Flow$0$0$-1.0M$0$0$0$0
Net Cash Flow$6.0M$-2.0M$8.0M$15.0M$-12.0M$6.0M$-1.0M
Free Cash Flow$-2.0M$-5.0M$-20.0M$-33.0M$-53.0M$-49.0M$-30.0M

Valuation & Return Ratios

MetricValue
PEG Ratio-0.37
EV / EBITDA-4.20
FCF Yield-15.19%
Quick Ratio14.32
Interest Coverage—
Return 1Y344.86%
Return 3Y-39.82%
Return 5Y—

AN2 Therapeutics, Inc. (ANTX) financials — frequently asked questions

What is AN2 Therapeutics, Inc.'s annual revenue?

AN2 Therapeutics, Inc. (ANTX) reported annual revenue of $0 in its most recent fiscal year.

What is AN2 Therapeutics, Inc.'s net profit?

AN2 Therapeutics, Inc. (ANTX) reported a net loss of $35.0M in its most recent fiscal year.

What is ANTX EV/EBITDA?

AN2 Therapeutics, Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is -4.20. 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.