AMEX · Financial Statements

Armata Pharmaceuticals, Inc. (ARMP) Financial Statements

$3.64 AMEX: ARMP Market Cap $135.34M

Armata Pharmaceuticals, Inc. most recently reported annual revenue of $5.0M, a net loss of $174.0M. Revenue grew at an average annual rate of 38.0% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Armata Pharmaceuticals, Inc.: net profit was positive in 0 of 10 reported years; operating margin moved from -8991.5% to -636.7%, a shift of +8354.9 percentage points; the most recent year shows a net loss of $174.0M.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$0$0$0$0$1.0M$4.0M$6.0M$5.0M$5.0M$5.0M
Operating Expenses$24.0M$16.0M$13.0M$19.0M$22.0M$28.0M$42.0M$45.0M$48.0M$36.0M
Operating Profit$-23.0M$-16.0M$-13.0M$-19.0M$-22.0M$-24.0M$-37.0M$-41.0M$-42.0M$-31.0M
Operating Margin-8991.5%-14048.7%0.0%0.0%-2623.0%-532.5%-670.8%-902.9%-820.2%-636.7%
Other Income$4.0M$2.0M$1.0M$0$-1.0M$1.0M$0$-28.0M$24.0M$-143.0M
Interest$0$0$0$1.0M$1.0M$0$0$3.0M$11.0M$17.0M
Depreciation$0$0$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M$2.0M
Profit Before Tax$-19.0M$-14.0M$-17.0M$-19.0M$-22.0M$-23.0M$-37.0M$-69.0M$-19.0M$-174.0M
Tax$2.9M$9.2M$2.0M$0$0$0$0$0$0$0
Net Profit$-19.0M$-13.0M$-12.0M$-19.0M$-22.0M$-23.0M$-37.0M$-69.0M$-19.0M$-174.0M
EPS$-345.80$-27.34$-8.90$-2.43$-1.35$-0.96$-1.08$-1.91$-0.52$-4.80
Dividend Payout0.0%0.0%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$1.0M$2.0M$1.0M$0$3.0M$1.0M$0$2.0M$0$0$1.0M$3.0M
Operating Expenses$12.0M$11.0M$11.0M$12.0M$13.0M$12.0M$9.0M$9.0M$8.0M$14.0M$10.0M$13.0M
Operating Profit$-10.0M$-10.0M$-10.0M$-12.0M$-10.0M$-11.0M$-8.0M$-7.0M$-8.0M$-14.0M$-9.0M$-10.0M
Operating Margin-843.8%-626.9%-1058.8%0.0%-328.1%-853.4%-1668.2%-315.5%0.0%0.0%-1113.4%-410.8%
Interest$1.0M$1.0M$2.0M$3.0M$3.0M$3.0M$4.0M$4.0M$4.0M$5.0M$6.0M$7.0M
Profit Before Tax$-31.0M$-20.0M$-25.0M$9.0M$-5.0M$3.0M$-7.0M$-16.0M$-27.0M$-124.0M$-115.0M$74.0M
Tax$0$0$0$0$0$0$0$0$0$0$0$0
Net Profit$-31.0M$-20.0M$-25.0M$9.0M$-5.0M$3.0M$-7.0M$-16.0M$-27.0M$-124.0M$-115.0M$74.0M
EPS$-0.86$-0.55$-0.69$-0.25$-0.15$0.04$-0.18$-0.45$-0.74$-3.42$-3.16$-0.27

Over the 10 years reported for Armata Pharmaceuticals, Inc., borrowings increased from $1.0M in 2016 to $288.0M in 2025, cash stood at $9.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 1.22 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$18.0M$11.0M$12.0M$25.0M$40.0M$70.0M$108.0M$98.0M$86.0M$77.0M
Current Assets$6.0M$5.0M$8.0M$7.0M$11.0M$15.0M$27.0M$19.0M$11.0M$11.0M
Cash$6.0M$5.0M$8.0M$6.0M$10.0M$10.0M$15.0M$14.0M$9.0M$9.0M
Inventory$-1.0M$0$0$0$0$0$0$0$0$0
Receivables$0$0$0$0$1.0M$3.0M$9.0M$3.0M$1.0M$0
Fixed Assets$1.0M$1.0M$1.0M$4.0M$13.0M$38.0M$47.0M$57.0M$55.0M$46.0M
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$0$0$1.0M$1.0M$1.0M$0$6.0M$0$5.0M$5.0M
Other Assets$0$0$0$3.0M$3.0M$3.0M$3.0M$3.0M$3.0M$3.0M
Total Liabilities$8.0M$3.0M$3.0M$11.0M$21.0M$44.0M$72.0M$130.0M$134.0M$295.0M
Current Liabilities$4.0M$2.0M$3.0M$5.0M$7.0M$5.0M$25.0M$16.0M$48.0M$9.0M
Borrowings$1.0M$0$0$3.0M$13.0M$38.0M$49.0M$120.0M$127.0M$288.0M
Other Liabilities$8.0M$3.0M$3.0M$8.0M$8.0M$6.0M$23.0M$10.0M$8.0M$7.0M
Equity$0$0$0$0$0$0$0$0$0$0
Reserves$10.0M$8.0M$8.0M$15.0M$19.0M$25.0M$36.0M$-32.0M$-48.0M$-219.0M

For Armata Pharmaceuticals, Inc., operating cash flow was positive in 0 of 10 reported years; free cash flow in the latest year was negative at $26.0M; free cash flow was positive in 0 of 10 years.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$-11.0M$-9.0M$-9.0M$-16.0M$-18.0M$-24.0M$-32.0M$-47.0M$-38.0M$-26.0M
Investing Cash Flow$-1.0M$-2.0M$19.0M$3.0M$-2.0M$-3.0M$-4.0M$-16.0M$-4.0M$-1.0M
Financing Cash Flow$0$0$0$-1.0M$0$-1.0M$0$0$0$0
Net Cash Flow$-4.0M$-1.0M$3.0M$-4.0M$4.0M$1.0M$5.0M$-2.0M$-4.0M$-1.0M
Free Cash Flow$-11.0M$-9.0M$-9.0M$-16.0M$-19.0M$-25.0M$-35.0M$-56.0M$-39.0M$-26.0M

Valuation & Return Ratios

MetricValue
PEG Ratio0.01
EV / EBITDA-2.39
FCF Yield-22.67%
Quick Ratio0.11
Interest Coverage-1.90
Return 1Y71.18%
Return 3Y216.13%
Return 5Y3.16%

Armata Pharmaceuticals, Inc. (ARMP) financials — frequently asked questions

What is Armata Pharmaceuticals, Inc.'s annual revenue?

Armata Pharmaceuticals, Inc. (ARMP) reported annual revenue of $5.0M in its most recent fiscal year.

What is Armata Pharmaceuticals, Inc.'s net profit?

Armata Pharmaceuticals, Inc. (ARMP) reported a net loss of $174.0M in its most recent fiscal year.

What is ARMP EV/EBITDA?

Armata Pharmaceuticals, Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is -2.39. A negative value means EBITDA was negative over the period, so the ratio is not a meaningful valuation measure.

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