NASDAQ · Financial Statements

Keros Therapeutics, Inc. (KROS) Financial Statements

$11.28 NASDAQ: KROS Market Cap $223.65M

Keros Therapeutics, Inc. most recently reported annual revenue of $244.0M, net profit of $87.0M. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Keros Therapeutics, Inc.: Revenue rose from $10.0M in 2018 to $244.0M in 2025, a change of +2340.0% over 7 years; net profit was positive in 1 of 8 reported years; operating margin moved from -16.9% to 28.9%, a shift of +45.9 percentage points; the most recent year shows net profit of $87.0M.

Income Statement — 8 Years (USD millions)

Metric20182019202020212022202320242025
Revenue$10.0M$10.0M$0$20.0M$0$0$4.0M$244.0M
Operating Expenses$12.0M$21.0M$47.0M$76.0M$115.0M$170.0M$214.0M$173.0M
Operating Profit$-2.0M$-11.0M$-47.0M$-56.0M$-115.0M$-170.0M$-211.0M$71.0M
Operating Margin-16.9%-105.6%0.0%-280.5%0.0%-112543.7%-5939.0%28.9%
Other Income$1.0M$-2.0M$1.0M$0$10.0M$17.0M$24.0M$21.0M
Interest$0$0$0$0$0$0$0$0
Depreciation$0$0$1.0M$0$1.0M$1.0M$1.0M$2.0M
Profit Before Tax$-1.0M$-12.0M$-46.0M$-57.0M$-105.0M$-153.0M$-187.0M$92.0M
Tax$-23.8M$0$380,000$-3.5M$0$0$-160,000$5.3M
Net Profit$-1.0M$-12.0M$-45.0M$-59.0M$-105.0M$-153.0M$-187.0M$87.0M
EPS$-0.15$-1.39$-2.93$-2.52$-4.15$-5.20$-5.00$2.30
Dividend Payout0.0%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$3.0M$211.0M$18.0M$14.0M$0$0$0
Operating Expenses$43.0M$47.0M$49.0M$50.0M$59.0M$56.0M$59.0M$58.0M$30.0M$30.0M$26.0M$31.0M
Operating Profit$-43.0M$-46.0M$-48.0M$-50.0M$-59.0M$-53.0M$152.0M$-40.0M$-15.0M$-29.0M$-26.0M$-31.0M
Operating Margin-541000.0%-32486.0%-58413.3%-136321.6%-15117.8%-1750.6%72.0%-219.2%-107.9%-7602.6%-7050.9%0.0%
Interest$0$0$0$0$0$0$0$0$0$0$0$0
Profit Before Tax$-39.0M$-40.0M$-43.0M$-45.0M$-53.0M$-46.0M$158.0M$-33.0M$-9.0M$-25.0M$-24.0M$-29.0M
Tax$0$0$0$0$0$-660,000$6.3M$6.8M$16.4M$6.1M$0$0
Net Profit$-39.0M$-40.0M$-43.0M$-45.0M$-53.0M$-46.0M$148.0M$-31.0M$-7.0M$-23.0M$-24.0M$-29.0M
EPS$-1.33$-1.34$-1.46$-1.25$-1.47$-1.14$3.62$-0.76$-0.18$-0.38$-1.21$-1.45

Over the 8 years reported for Keros Therapeutics, Inc., borrowings increased from $1.0M in 2018 to $17.0M in 2025, cash stood at $287.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 15.75 times.

Balance Sheet — 8 Years (USD millions)

Metric20182019202020212022202320242025
Total Assets$27.0M$11.0M$269.0M$255.0M$307.0M$370.0M$616.0M$338.0M
Current Assets$26.0M$9.0M$268.0M$251.0M$286.0M$347.0M$589.0M$315.0M
Cash$23.0M$7.0M$266.0M$230.0M$279.0M$331.0M$560.0M$287.0M
Inventory$0$0$0$0$0$0$0$0
Receivables$0$1.0M$0$18.0M$1.0M$1.0M$4.0M$6.0M
Fixed Assets$1.0M$2.0M$2.0M$2.0M$18.0M$19.0M$23.0M$21.0M
Capital Work in Progress$0$0$0$0$0$0$0$0
Investments$1.0M$0$0$0$0$1.0M$1.0M$1.0M
Other Assets$0$0$0$0$0$0$0$0
Total Liabilities$15.0M$10.0M$8.0M$12.0M$29.0M$38.0M$44.0M$35.0M
Current Liabilities$11.0M$4.0M$7.0M$12.0M$17.0M$24.0M$27.0M$20.0M
Borrowings$1.0M$1.0M$1.0M$1.0M$13.0M$14.0M$19.0M$17.0M
Other Liabilities$14.0M$9.0M$7.0M$11.0M$16.0M$23.0M$25.0M$18.0M
Equity$0$0$0$0$0$0$0$0
Reserves$13.0M$0$262.0M$243.0M$277.0M$332.0M$572.0M$303.0M

For Keros Therapeutics, Inc., operating cash flow was positive in 2 of 8 reported years; free cash flow in the latest year was $106.0M; free cash flow was positive in 2 of 8 years; financing activities used $375.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 8 Years (USD millions)

Metric20182019202020212022202320242025
Operating Cash Flow$7.0M$-16.0M$-37.0M$-62.0M$-70.0M$-125.0M$-161.0M$108.0M
Investing Cash Flow$0$-1.0M$-1.0M$-2.0M$-2.0M$-5.0M$-4.0M$-3.0M
Financing Cash Flow$0$0$-3.0M$0$1.0M$3.0M$12.0M$-375.0M
Net Cash Flow$18.0M$-16.0M$259.0M$-35.0M$49.0M$52.0M$229.0M$-273.0M
Free Cash Flow$7.0M$-16.0M$-37.0M$-63.0M$-71.0M$-127.0M$-163.0M$106.0M

Valuation & Return Ratios

MetricValue
PEG Ratio0.00
EV / EBITDA0.20
FCF Yield-21.53%
Quick Ratio21.96
Interest Coverage—
Return 1Y-29.73%
Return 3Y-76.42%
Return 5Y-73.29%

Keros Therapeutics, Inc. (KROS) financials — frequently asked questions

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

Keros Therapeutics, Inc. (KROS) reported annual revenue of $244.0M in its most recent fiscal year.

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

Keros Therapeutics, Inc. (KROS) reported net profit of $87.0M in its most recent fiscal year.

What is KROS EV/EBITDA?

Keros Therapeutics, Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is 0.20.

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