NASDAQ · Financial Statements

Milestone Pharmaceuticals Inc. (MIST) Financial Statements

$0.65 NASDAQ: MIST Market Cap $80.70M

Milestone Pharmaceuticals Inc. most recently reported annual revenue of $2.0M, a net loss of $63.0M. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Milestone Pharmaceuticals Inc.: net profit was positive in 0 of 9 reported years; operating margin moved from -287.1% to -4041.7%, a shift of -3754.6 percentage points; the most recent year shows a net loss of $63.0M.

Income Statement — 9 Years (USD millions)

Metric201720182019202020212022202320242025
Revenue$0$0$0$0$15.0M$5.0M$1.0M$0$2.0M
Operating Expenses$8.0M$24.0M$58.0M$51.0M$58.0M$65.0M$62.0M$42.0M$64.0M
Operating Profit$-8.0M$-24.0M$-58.0M$-51.0M$-43.0M$-60.0M$-61.0M$-42.0M$-62.0M
Operating Margin0.0%0.0%0.0%0.0%-287.1%-1192.8%-6109.8%0.0%-4041.7%
Other Income$0$1.0M$3.0M$1.0M$0$1.0M$1.0M$1.0M$-1.0M
Interest$0$0$3.0M$1.0M$0$0$3.0M$4.0M$4.0M
Depreciation$0$0$0$0$0$0$0$0$0
Profit Before Tax$-8.0M$-23.0M$55.0M$-50.0M$-43.0M$-58.0M$-60.0M$-42.0M$-63.0M
Tax$-50,000$-320,000$100,000$30,000$0$0$0$0$540,000
Net Profit$-8.0M$-23.0M$-55.0M$-50.0M$-43.0M$-58.0M$-60.0M$-42.0M$-63.0M
EPS$-0.34$-0.98$-3.50$-1.70$-1.02$-1.35$-1.39$-0.67$-0.75
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$2.0M$0$1.0M
Operating Expenses$15.0M$14.0M$10.0M$10.0M$10.0M$12.0M$21.0M$13.0M$12.0M$19.0M$24.0M$26.0M
Operating Profit$-15.0M$-14.0M$-10.0M$-10.0M$-10.0M$-12.0M$-21.0M$-13.0M$-12.0M$-17.0M$-24.0M$-26.0M
Operating Margin0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%-1116.2%-9988.2%-4585.0%
Interest$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M$4.0M$5.0M
Profit Before Tax$-15.0M$-14.0M$-10.0M$-9.0M$-9.0M$-12.0M$-21.0M$-13.0M$-12.0M$-17.0M$-26.0M$-29.0M
Tax$0$0$0$0$0$0$0$0$610,000$0$420,000$0
Net Profit$-15.0M$-14.0M$-10.0M$-9.0M$-9.0M$-12.0M$-21.0M$-13.0M$-12.0M$-17.0M$-26.0M$-29.0M
EPS$-0.35$-0.41$-0.21$-0.14$-0.14$-0.20$-0.31$-0.20$-0.12$-0.16$-0.20$-0.21

Over the 9 years reported for Milestone Pharmaceuticals Inc., cash stood at $73.0M in the latest year, shareholders' equity was $353.0M, current assets covered current liabilities 8.00 times.

Balance Sheet — 9 Years (USD millions)

Metric201720182019202020212022202320242025
Total Assets$28.0M$88.0M$123.0M$150.0M$120.0M$74.0M$75.0M$75.0M$114.0M
Current Assets$28.0M$88.0M$122.0M$149.0M$119.0M$72.0M$73.0M$74.0M$112.0M
Cash$11.0M$86.0M$120.0M$72.0M$114.0M$8.0M$14.0M$25.0M$73.0M
Inventory$0$0$0$0$0$0$0$0$1.0M
Receivables$1.0M$1.0M$1.0M$1.0M$0$1.0M$4.0M$2.0M$4.0M
Fixed Assets$0$0$1.0M$1.0M$1.0M$3.0M$2.0M$2.0M$2.0M
Capital Work in Progress$0$0$0$0$0$0$0$0$0
Investments$16.0M$0$0$70.0M$0$57.0M$52.0M$44.0M$33.0M
Other Assets$0$0$0$0$0$0$0$0$0
Total Liabilities$61.0M$143.0M$9.0M$7.0M$7.0M$8.0M$58.0M$62.0M$72.0M
Current Liabilities$2.0M$5.0M$8.0M$6.0M$7.0M$6.0M$7.0M$8.0M$14.0M
Borrowings$0$0$1.0M$1.0M$1.0M$2.0M$52.0M$55.0M$58.0M
Other Liabilities$61.0M$143.0M$8.0M$6.0M$7.0M$6.0M$7.0M$8.0M$13.0M
Equity$1.0M$2.0M$226.0M$252.0M$252.0M$274.0M$261.0M$288.0M$353.0M
Reserves$-33.0M$-55.0M$115.0M$143.0M$113.0M$66.0M$17.0M$13.0M$42.0M

For Milestone Pharmaceuticals Inc., operating cash flow was positive in 0 of 9 reported years; free cash flow in the latest year was negative at $49.0M; free cash flow was positive in 0 of 9 years.

Cash Flow Statement — 9 Years (USD millions)

Metric201720182019202020212022202320242025
Operating Cash Flow$-8.0M$-21.0M$-51.0M$-51.0M$-33.0M$-52.0M$-46.0M$-29.0M$-49.0M
Investing Cash Flow$-32.0M$32.0M$-1.0M$-70.0M$70.0M$-57.0M$5.0M$8.0M$11.0M
Financing Cash Flow$0$0$0$48.0M$5.0M$0$-2.0M$5.0M$0
Net Cash Flow$7.0M$75.0M$34.0M$-48.0M$42.0M$-107.0M$6.0M$12.0M$48.0M
Free Cash Flow$-8.0M$-21.0M$-52.0M$-51.0M$-33.0M$-53.0M$-47.0M$-29.0M$-49.0M

Valuation & Return Ratios

MetricValue
PEG Ratio-0.06
EV / EBITDA-1.00
FCF Yield-60.73%
Quick Ratio7.92
Interest Coverage-7.27
Return 1Y-13.18%
Return 3Y-63.49%
Return 5Y-76.25%

Milestone Pharmaceuticals Inc. (MIST) financials — frequently asked questions

What is Milestone Pharmaceuticals Inc.'s annual revenue?

Milestone Pharmaceuticals Inc. (MIST) reported annual revenue of $2.0M in its most recent fiscal year.

What is Milestone Pharmaceuticals Inc.'s net profit?

Milestone Pharmaceuticals Inc. (MIST) reported a net loss of $63.0M in its most recent fiscal year.

What is MIST EV/EBITDA?

Milestone Pharmaceuticals Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is -1.00. A negative value means EBITDA was negative over the period, so the ratio is not a meaningful valuation measure.

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