NASDAQ · Financial Statements

Equillium, Inc. (EQ) Financial Statements

$1.23 NASDAQ: EQ Market Cap $77.99M

Equillium, Inc. most recently reported annual revenue of $0, a net loss of $22.0M. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Equillium, Inc.: net profit was positive in 0 of 9 reported years; operating margin moved from -393.9% to -20.1%, a shift of +373.8 percentage points; the most recent year shows a net loss of $22.0M.

Income Statement — 9 Years (USD millions)

Metric201720182019202020212022202320242025
Revenue$0$0$0$0$0$16.0M$36.0M$41.0M$0
Operating Expenses$2.0M$9.0M$27.0M$30.0M$38.0M$78.0M$51.0M$49.0M$24.0M
Operating Profit$-2.0M$-9.0M$-27.0M$-30.0M$-38.0M$-62.0M$-15.0M$-8.0M$-24.0M
Operating Margin0.0%0.0%0.0%0.0%0.0%-393.9%-40.2%-20.1%0.0%
Other Income$-1.0M$-5.0M$1.0M$0$-1.0M$0$2.0M$1.0M$1.0M
Interest$0$3.0M$0$1.0M$1.0M$1.0M$0$0$0
Depreciation$0$0$0$0$0$0$0$0$0
Profit Before Tax$-2.0M$-13.0M$-26.0M$-30.0M$-39.0M$-62.0M$-13.0M$-8.0M$-22.0M
Tax$0$-1.1M$0$0$0$0$-4.5M$-4.7M$0
Net Profit$-2.0M$-13.0M$-26.0M$-30.0M$-39.0M$-62.0M$-13.0M$-8.0M$-22.0M
EPS$-0.19$-1.09$-1.47$-1.46$-1.35$-3.19$-0.38$-0.23$-0.39
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$9.0M$9.0M$11.0M$14.0M$12.0M$4.0M$0$0$0$0$0$0
Operating Expenses$12.0M$12.0M$13.0M$14.0M$13.0M$9.0M$9.0M$6.0M$5.0M$4.0M$6.0M$5.0M
Operating Profit$-4.0M$-3.0M$-3.0M$0$-1.0M$-5.0M$-9.0M$-6.0M$-5.0M$-4.0M$-6.0M$-5.0M
Operating Margin-40.9%-34.7%-26.1%-0.7%-5.6%-107.0%0.0%0.0%0.0%0.0%0.0%0.0%
Interest$0$0$0$0$0$0$0$0$0$0$0$0
Profit Before Tax$-3.0M$-2.0M$-3.0M$0$0$-5.0M$-9.0M$-6.0M$-4.0M$-4.0M$-5.0M$-5.0M
Tax$-15.4M$-690,000$0$0$0$-6.6M$0$0$0$0$0$0
Net Profit$-4.0M$-2.0M$-3.0M$0$0$-6.0M$-9.0M$-6.0M$-4.0M$-4.0M$-5.0M$-5.0M
EPS$-0.11$-0.07$-0.08$0.01$0.00$-0.16$-0.24$-0.16$-0.12$-0.04$-0.06$-0.04

Over the 9 years reported for Equillium, Inc., borrowings decreased from $8.0M in 2017 to $1.0M in 2025, cash stood at $30.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 10.00 times.

Balance Sheet — 9 Years (USD millions)

Metric201720182019202020212022202320242025
Total Assets$7.0M$67.0M$56.0M$85.0M$85.0M$78.0M$51.0M$26.0M$32.0M
Current Assets$7.0M$67.0M$56.0M$85.0M$83.0M$77.0M$49.0M$25.0M$30.0M
Cash$7.0M$29.0M$13.0M$24.0M$50.0M$59.0M$23.0M$18.0M$30.0M
Inventory$0$0$0$0$0$0$0$0$0
Receivables$0$0$0$0$0$4.0M$6.0M$1.0M$0
Fixed Assets$0$0$0$0$2.0M$2.0M$1.0M$1.0M$1.0M
Capital Work in Progress$0$0$0$0$0$0$0$0$0
Investments$0$37.0M$40.0M$58.0M$30.0M$12.0M$18.0M$4.0M$0
Other Assets$0$0$0$0$0$0$0$0$0
Total Liabilities$9.0M$2.0M$14.0M$16.0M$19.0M$46.0M$28.0M$7.0M$3.0M
Current Liabilities$1.0M$2.0M$4.0M$7.0M$9.0M$32.0M$28.0M$6.0M$3.0M
Borrowings$8.0M$0$10.0M$10.0M$12.0M$10.0M$1.0M$0$1.0M
Other Liabilities$1.0M$2.0M$4.0M$6.0M$7.0M$36.0M$27.0M$6.0M$3.0M
Equity$0$0$0$0$0$0$0$0$0
Reserves$-2.0M$65.0M$42.0M$70.0M$67.0M$32.0M$23.0M$19.0M$29.0M

For Equillium, Inc., operating cash flow was positive in 0 of 9 reported years; free cash flow in the latest year was negative at $23.0M; free cash flow was positive in 0 of 9 years.

Cash Flow Statement — 9 Years (USD millions)

Metric201720182019202020212022202320242025
Operating Cash Flow$-1.0M$-8.0M$-23.0M$-25.0M$-32.0M$-9.0M$-22.0M$-19.0M$-23.0M
Investing Cash Flow$0$-37.0M$-2.0M$-19.0M$27.0M$18.0M$-5.0M$14.0M$4.0M
Financing Cash Flow$0$0$0$0$1.0M$0$0$0$0
Net Cash Flow$7.0M$21.0M$-15.0M$11.0M$26.0M$9.0M$-36.0M$-5.0M$12.0M
Free Cash Flow$-1.0M$-8.0M$-23.0M$-25.0M$-32.0M$-9.0M$-22.0M$-19.0M$-23.0M

Valuation & Return Ratios

MetricValue
PEG Ratio-0.09
EV / EBITDA-1.77
FCF Yield-22.54%
Quick Ratio23.40
Interest Coverage—
Return 1Y586.84%
Return 3Y200.00%
Return 5Y-53.39%

Equillium, Inc. (EQ) financials — frequently asked questions

What is Equillium, Inc.'s annual revenue?

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

What is Equillium, Inc.'s net profit?

Equillium, Inc. (EQ) reported a net loss of $22.0M in its most recent fiscal year.

What is EQ EV/EBITDA?

Equillium, Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is -1.77. A negative value means EBITDA was negative over the period, so the ratio is not a meaningful valuation measure.

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