Cartesian Therapeutics, Inc. financials
Source: EDGAR filings · Built 2026-06-02T03:57:28Z
Custom taxonomy namespace:
ffd
Key metrics by reporting period
Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.
Derived Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Free Cash Flow | -79.39M | -32.77M | -51.37M | -32.83M | -61.47M | 34.07M |
| EBITDA | -141.00M | -42.70M | -85.72M | 15.24M | -4.00M | -56.22M |
| Working Capital | 114.34M | 193.65M | 22.52M | 123.06M | 72.19M | 69.80M |
| Net Debt | -112.46M | -198.63M | -65.96M | -94.78M | -104.41M | -128.13M |
| Operating Margin | -35851.25% | -114.69% | -332.32% | 13.12% | -5.40% | -342.36% |
| Net Margin | -32575.50% | -202.28% | -844.91% | 31.94% | -30.19% | -414.99% |
| Return on Equity (ROE) | 103.22% | 1138.25% | 49.91% | 37.71% | -114.06% | 382.52% |
| Return on Assets (ROA) | -43.96% | -17.80% | -72.02% | 21.33% | -16.07% | -41.63% |
| Current Ratio | 8.65× | 9.43× | 1.33× | 5.91× | 2.00× | 1.86× |
| Debt-to-Equity | -0.10× | -2.06× | -0.02× | 0.12× | 0.43× | -0.59× |
| Effective Tax Rate | 6.59% | -0.37% | 7.96% | -1.75% | -164.24% | 0.00% |
| Cash Conversion Ratio | 0.57× | 0.31× | 0.23× | -0.89× | 2.35× | -0.51× |
| Accruals Ratio | -0.19× | -0.12× | -0.55× | 0.40× | 0.22× | -0.63× |
| SBC % of Revenue | 2630.25% | 17.20% | 86.62% | 10.11% | 9.07% | 32.67% |
| CapEx Coverage | -13.56× | -2.60× | -248.35× | -26.34× | -55.65× | 42.80× |
| Free Cash Flow Per Share | $-3.06 | $-1.89 | $-9.94 | $-0.23 | $-0.54 | $0.34 |
Valuation Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| P/E Trailing (Diluted) | — | — | — | 11.30× | — | — |
| P/FCF | — | — | — | — | — | 9.00× |
| FCF Yield | — | — | — | — | — | 11.11% |
| EV / EBITDA | — | — | — | 5.13× | — | — |
| P/S | 468.85× | 12.06× | 0.14× | 1.56× | 4.74× | 19.73× |
| P/B | — | — | — | 1.84× | 17.89× | — |
Income Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 400.00K | 38.27M | 26.00M | 110.78M | 85.08M | 16.60M |
| Revenues | 2.80M | 38.91M | 26.00M | — | — | — |
| Research and Development Expense | 58.03M | 45.10M | 71.26M | 72.38M | 68.74M | 54.51M |
| Operating Expenses | 146.20M | 82.81M | 112.42M | 96.24M | 89.67M | 73.42M |
| Operating Income (Loss) | -143.41M | -43.90M | -86.42M | 14.54M | -4.60M | -56.82M |
| Income Tax Expense (Benefit) | -9.19M | 287.00K | -19.00M | -609.00K | 15.97M | 0 |
| Net Income (Loss) Attributable to Parent | -130.30M | -77.42M | -219.71M | 35.38M | -25.69M | -68.88M |
| Earnings Per Share, Basic | $-5.02 | $-4.48 | $-49.76 | $0.24 | $-0.22 | $-0.68 |
| Weighted Average Number of Shares Outstanding, Basic | 25.97M | 17.28M | 5.17M | 144.76M | 114.33M | 101.20M |
| Earnings Per Share, Diluted | $-5.02 | $-4.49 | $-49.76 | $0.10 | $-0.22 | $-0.68 |
| Weighted Average Number of Shares Outstanding, Diluted | 25.97M | 17.36M | 5.17M | 145.87M | 114.33M | 101.20M |
Balance Sheet
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 125.14M | 212.61M | 76.91M | 106.44M | 114.06M | 138.69M |
| Assets, Current | 129.28M | 216.63M | 90.73M | 148.14M | 144.44M | 151.34M |
| Assets | 296.41M | 435.02M | 305.05M | 165.89M | 159.88M | 165.44M |
| Liabilities, Current | 14.94M | 22.98M | 68.21M | 25.08M | 72.25M | 81.55M |
| Liabilities | 422.65M | 441.82M | 444.68M | 72.06M | 137.36M | 183.44M |
| Stockholders' Equity Attributable to Parent | -126.24M | -6.80M | -440.18M | 93.83M | 22.52M | -18.01M |
| Common Stock, Shares, Outstanding | 26.01M | 25.77M | 5.40M | 153.04M | 123.62M | 108.07M |
Cash Flow Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | -73.94M | -23.67M | -51.16M | -31.63M | -60.38M | 34.88M |
| Payments to Acquire Property, Plant, and Equipment | 5.45M | 9.09M | 206.00K | 1.20M | 1.08M | 815.00K |
| Net Cash Provided by (Used in) Investing Activities | -5.45M | -8.74M | 34.61M | -15.00M | -17.14M | -741.00K |
| Net Cash Provided by (Used in) Financing Activities | -8.05M | 168.43M | -13.14M | 39.22M | 52.90M | 14.43M |
Derived Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Free Cash Flow | -22.16M | -18.20M | -61.19M | -44.30M | -24.18M | -7.71M |
| EBITDA | -25.90M | -78.04M | -20.47M | -21.21M | -21.29M | -26.23M |
| Working Capital | 106.09M | 114.34M | 133.46M | 151.14M | 170.12M | 193.65M |
| Net Debt | -106.79M | -112.46M | -130.78M | -146.97M | -166.37M | -198.63M |
| Operating Margin | — | — | — | — | -5472.25% | 3197.49% |
| Net Margin | — | — | — | — | -4427.50% | 1226.44% |
| Return on Equity (ROE) | 26.45% | 73.33% | 100.16% | -628.65% | 81.28% | 150.74% |
| Return on Assets (ROA) | -13.59% | -31.23% | -9.63% | 4.08% | -4.33% | -2.36% |
| Current Ratio | 7.65× | 8.65× | 10.67× | 13.33× | 12.34× | 9.43× |
| Debt-to-Equity | -0.08× | -0.10× | -0.35× | -5.28× | -0.65× | -2.06× |
| Cash Conversion Ratio | 0.56× | 0.19× | 1.57× | -2.56× | 1.30× | 0.68× |
| Accruals Ratio | -0.06× | -0.25× | 0.05× | 0.15× | 0.01× | -0.01× |
| SBC % of Revenue | — | — | — | — | 627.00% | -223.09% |
| CapEx Coverage | -819.81× | -36.00× | -11.33× | -11.07× | -21.50× | -9.93× |
| Free Cash Flow Per Share | $-0.83 | $-0.70 | $-2.35 | $-1.68 | $-0.93 | $-0.44 |
Valuation Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| P/S | — | 468.85× | — | — | 10.41× | 12.06× |
Income Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 0 | 0 | 0 | 0 | 400.00K | -836.00K |
| Revenues | 78.00K | 947.00K | 452.00K | 298.00K | 1.10M | -759.00K |
| Research and Development Expense | 19.46M | 14.69M | 13.80M | 14.87M | 14.67M | 11.31M |
| Operating Expenses | 26.58M | 79.59M | 21.52M | 22.11M | 22.99M | 25.97M |
| Operating Income (Loss) | -26.50M | -78.64M | -21.07M | -21.81M | -21.89M | -26.73M |
| Net Income (Loss) Attributable to Parent | -39.18M | -92.58M | -35.90M | 15.89M | -17.71M | -10.25M |
| Earnings Per Share, Basic | $-1.46 | $-3.57 | $-1.38 | $0.51 | $-0.68 | $0.13 |
| Weighted Average Number of Shares Outstanding, Basic | 26.86M | 25.97M | 26.00M | 25.98M | 25.90M | 17.28M |
| Earnings Per Share, Diluted | $-1.46 | $-3.57 | $-1.38 | $0.50 | $-0.68 | $0.12 |
| Weighted Average Number of Shares Outstanding, Diluted | 26.86M | 25.97M | 26.00M | 26.45M | 25.90M | 17.36M |
Balance Sheet
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 118.64M | 125.14M | 143.38M | 160.32M | 180.43M | 212.61M |
| Assets, Current | 122.04M | 129.28M | 147.26M | 163.40M | 185.12M | 216.63M |
| Assets | 288.39M | 296.41M | 372.68M | 388.89M | 409.13M | 435.02M |
| Liabilities, Current | 15.95M | 14.94M | 13.80M | 12.26M | 15.00M | 22.98M |
| Liabilities | 436.51M | 422.65M | 408.52M | 391.42M | 430.92M | 441.82M |
| Stockholders' Equity Attributable to Parent | -148.12M | -126.24M | -35.84M | -2.53M | -21.79M | -6.80M |
| Common Stock, Shares, Outstanding | 28.54M | 26.01M | 26.00M | 26.00M | 25.94M | 25.77M |
Cash Flow Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | -22.14M | -17.71M | -56.23M | -40.63M | -23.11M | -7.00M |
| Payments to Acquire Property, Plant, and Equipment | 27.00K | 492.00K | 4.96M | 3.67M | 1.07M | 705.00K |
| Net Cash Provided by (Used in) Investing Activities | -27.00K | -492.00K | -4.96M | -3.67M | -1.07M | -354.00K |
| Net Cash Provided by (Used in) Financing Activities | 15.67M | -52.00K | -8.00M | -7.96M | -8.03M | 783.00K |
Raw XBRL tagging for a single filing
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Methodology
All facts on this page come straight from SEC EDGAR XBRL
company-facts filings (RNAC CIK 0001453687),
grouped by financial statement using FASB's base
us-gaap presentation taxonomy. Filers may re-parent
concepts onto different statements in their own extension
taxonomy, so a handful of rows can show up under a different
statement than on the actual 10-K / 10-Q; custom concepts and
any we couldn't map fall into Other. Hover a
cell to see the fully-qualified concept name and the filer's
description.
For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.