NASDAQ : ACOG
Alpha Cognition Inc. — Financial statements
Healthcare · Biotechnology · Canada
Last price 8.74 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 190.34M
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Financial statements
Alpha Cognition Inc. (ACOG) reported revenue of 15.26M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 15.26M | 10.22M | ||||
| Cost of Revenue | 1.47M | 1.92M | 37.50K | |||
| Gross Profit | 13.79M | 8.30M | -37.50K | |||
| Selling, General & Admin | 36.20M | 29.08M | 8.01M | 5.05M | 4.84M | 2.04M |
| Research & Development | 4.17M | 1.87M | 3.92M | 4.88M | 8.72M | 7.97M |
| Amortization of Goodwill & Intangibles | 90.39K | 21.55K | 79.88K | 82.38K | ||
| Operating Expenses | 40.45M | 30.97M | 12.01M | 9.94M | 13.56M | 11.09M |
| Operating Income | -26.66M | -22.66M | -12.01M | -9.94M | -13.56M | -11.12M |
| Interest Expense | -17.52K | -37.24K | -528.16K | |||
| Interest & Investment Income | 1.90M | 1.90M | 161.66K | 6.80K | 1.93K | 2.07K |
| Currency Exchange Gain (Loss) | -42.25K | 9.93K | -296.06K | 48.21K | ||
| Other Non Operating Income (Expenses) | 3.79M | 91.44K | -2.94M | -3.82M | 1.82M | -6.54M |
| EBT Excluding Unusual Items | -21.01M | -20.67M | -14.79M | -13.76M | -12.07M | -18.14M |
| Asset Writedown | -5.51K | |||||
| Other Unusual Items | -1.40M | |||||
| Pretax Income | -21.01M | -20.67M | -14.79M | -13.76M | -12.07M | -19.55M |
| Net Income | -21.01M | -20.67M | -14.79M | -13.76M | -12.07M | -19.55M |
| Net Income to Common | -21.01M | -20.67M | -14.79M | -13.76M | -12.07M | -19.55M |
| Shares Outstanding (Basic) | 20.55M | 17.68M | 7.25M | 3.59M | 2.72M | 2.13M |
| Shares Outstanding (Diluted) | 20.55M | 17.68M | 7.25M | 3.59M | 2.72M | 2.13M |
| EPS (Basic) | -1.02 | -1.17 | -2.04 | -3.84 | -4.44 | -9.16 |
| EPS (Diluted) | -1.05 | -1.18 | -2.04 | -3.84 | -4.44 | -9.16 |
| Free Cash Flow | -31.18M | -20.67M | -7.78M | -8.80M | -9.26M | -9.89M |
| Free Cash Flow Per Share | -1.52 | -1.17 | -1.07 | -2.45 | -3.40 | -4.64 |
| Gross Margin | 90.38% | 81.26% | ||||
| Operating Margin | -174.70% | -221.72% | ||||
| Profit Margin | -137.70% | -202.24% | ||||
| Free Cash Flow Margin | -204.28% | -202.28% | ||||
| EBITDA | -26.49M | -22.60M | -11.93M | -9.85M | -13.47M | -11.03M |
| EBITDA Margin | -173.57% | -221.15% | ||||
| D&A For EBITDA | 173.03K | 58.57K | 81.22K | 84.48K | 90.92K | 89.88K |
| EBIT | -26.66M | -22.66M | -12.01M | -9.94M | -13.56M | -11.12M |
| EBIT Margin | -174.70% | -221.72% | ||||
| Revenue as Reported | 15.26M | 10.22M | ||||
| Advertising Expenses | 380.77K | 97.53K |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 41.38M | 66.05M | 48.55M | 1.40M | 2.08M | 11.30M |
| Cash & Short-Term Investments | 41.38M | 66.05M | 48.55M | 1.40M | 2.08M | 11.30M |
| Accounts Receivable | 5.47M | 4.24M | ||||
| Other Receivables | 100.04K | 25.08K | ||||
| Receivables | 5.47M | 4.24M | 157.59K | 25.08K | ||
| Inventory | 6.39M | 5.12M | 615.13K | |||
| Prepaid Expenses | 3.09M | 3.12M | 818.54K | 266.28K | 223.97K | 868.83K |
| Restricted Cash | 58.40K | 58.40K | 17.87K | 90.41K | ||
| Other Current Assets | 1.53M | 425.63K | 253.43K | |||
| Total Current Assets | 57.93M | 79.01M | 50.25M | 1.92M | 2.33M | 12.17M |
| Property, Plant & Equipment | 374.69K | 328.54K | 27.08K | 1.72K | 3.82K | 13.00K |
| Other Intangible Assets | 6.22M | 391.42K | 412.97K | 532.01K | 614.39K | 696.76K |
| Other Long-Term Assets | 45.71K | |||||
| Total Assets | 64.52M | 79.73M | 50.74M | 2.45M | 2.95M | 12.88M |
| Accounts Payable | 1.19M | 3.07M | 872.68K | 475.55K | 2.02M | 454.99K |
| Accrued Expenses | 5.05M | 5.91M | 1.57M | 918.56K | 829.32K | 271.86K |
| Current Portion of Long-Term Debt | 911.46K | 1.21M | 1.21M | 1.08M | ||
| Current Unearned Revenue | 103.19K | 153.17K | 10.41K | |||
| Other Current Liabilities | 71.54K | |||||
| Total Current Liabilities | 6.41M | 9.13M | 3.35M | 2.62M | 4.06M | 1.80M |
| Long-Term Unearned Revenue | 30.17K | 35.94K | ||||
| Other Long-Term Liabilities | 5.12M | 8.03M | 8.29M | 4.54M | 214.28K | 2.05M |
| Total Liabilities | 11.56M | 17.20M | 11.64M | 7.16M | 4.27M | 3.85M |
| Common Stock | 133.95M | 133.89M | 99.13M | 39.76M | 31.06M | 40.01M |
| Additional Paid-In Capital | 31.49M | 25.85M | 16.51M | 17.29M | 15.59M | |
| Retained Earnings | -112.37M | -97.11M | -76.44M | -61.65M | -47.88M | -38.03M |
| Comprehensive Income & Other | -104.30K | -104.30K | -104.30K | -104.30K | -84.73K | 7.05M |
| Total Common Equity | 52.96M | 62.53M | 39.09M | -4.70M | -1.32M | 9.03M |
| Shareholders' Equity | 52.96M | 62.53M | 39.09M | -4.70M | -1.32M | 9.03M |
| Total Liabilities & Equity | 64.52M | 79.73M | 50.74M | 2.45M | 2.95M | 12.88M |
| Total Debt | 911.46K | 1.21M | 1.21M | 1.08M | ||
| Net Cash (Debt) | 41.38M | 66.05M | 47.63M | 192.70K | 872.23K | 10.23M |
| Net Cash Per Share | 2.01 | 3.74 | 6.57 | 0.05 | 0.32 | 4.79 |
| Filing Date Shares Outstanding | 21.78M | 21.77M | 16.02M | 6.03M | 2.44M | 2.44M |
| Total Common Shares Outstanding | 21.77M | 21.77M | 16.02M | 4.73M | 2.44M | 2.42M |
| Working Capital | 51.51M | 69.88M | 46.90M | -697.55K | -1.72M | 10.37M |
| Book Value Per Share | 2.43 | 2.87 | 2.44 | -0.99 | -0.54 | 3.72 |
| Tangible Book Value | 46.74M | 62.14M | 38.68M | -5.24M | -1.93M | 8.33M |
| Tangible Book Value Per Share | 2.15 | 2.85 | 2.41 | -1.11 | -0.79 | 3.44 |
| Machinery | 12.37K | 12.37K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -21.01M | -20.67M | -14.79M | -13.76M | -12.07M | -19.55M |
| Depreciation & Amortization | 173.03K | 58.57K | 81.22K | 84.48K | 90.92K | 89.88K |
| Other Amortization | 459.36K | 24.27K | 494.55K | |||
| Loss (Gain) From Sale of Assets | 18.00K | |||||
| Asset Writedown & Restructuring Costs | 39.17K | 5.51K | ||||
| Stock-Based Compensation | 2.11M | 4.92M | 3.41M | 2.37M | 1.78M | 1.79M |
| Other Operating Activities | -3.95M | -90.71K | 3.23M | 4.08M | -1.81M | 7.58M |
| Change in Accounts Receivable | -3.66M | -4.24M | ||||
| Change in Inventory | -5.52M | -4.51M | -615.13K | |||
| Change in Accounts Payable | 3.43M | 6.52M | 1.05M | -1.45M | 2.11M | 239.51K |
| Change in Unearned Revenue | -322.67K | 95.53K | ||||
| Change in Other Net Operating Assets | -2.10M | -2.49M | -671.72K | -117.27K | 619.79K | -528.47K |
| Operating Cash Flow | -30.85M | -20.38M | -7.76M | -8.80M | -9.25M | -9.88M |
| Capital Expenditures | -321.80K | -293.49K | -26.70K | -4.88K | -13.67K | |
| Cash Acquisitions | 523.04K | |||||
| Sale (Purchase) of Intangibles | -5.91M | -50.00K | ||||
| Investing Cash Flow | -6.23M | -293.49K | -26.70K | -4.88K | 459.38K | |
| Long-Term Debt Issued | 4.54M | |||||
| Long-Term Debt Repaid | -911.46K | -300.00K | ||||
| Net Debt Issued (Repaid) | -911.46K | 4.25M | ||||
| Issuance of Common Stock | 35.68M | 35.71M | 56.84M | 9.25M | 40.78K | 16.10M |
| Other Financing Activities | 3.38M | 3.42M | -6.24M | -1.02M | -1.22M | |
| Financing Cash Flow | 39.06M | 38.21M | 54.85M | 8.23M | 40.78K | 14.88M |
| Foreign Exchange Rate Adjustments | -19.57K | -1.89K | -82.84K | |||
| Net Cash Flow | 1.98M | 17.54M | 47.07M | -589.12K | -9.22M | 5.38M |
| Free Cash Flow | -31.18M | -20.67M | -7.78M | -8.80M | -9.26M | -9.89M |
| Free Cash Flow Margin | -204.28% | -202.28% | ||||
| Free Cash Flow Per Share | -1.52 | -1.17 | -1.07 | -2.45 | -3.40 | -4.64 |
| Levered Free Cash Flow | -28.53M | -14.04M | -6.02M | -5.47M | -3.87M | -6.89M |
| Unlevered Free Cash Flow | -28.53M | -14.04M | -6.48M | -5.46M | -3.87M | -7.05M |
| Cash Interest Paid | 4.89K | 37.75K | 59.78K | 16.00K | 24.00K | |
| Change in Working Capital | -8.18M | -4.62M | -241.68K | -1.57M | 2.73M | -288.96K |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 190.34M | 141.32M | 94.36M | 58.73M | 13.04M | 60.00M |
| Enterprise Value | 148.95M | 105.92M | 92.90M | 59.18M | 10.50M | 56.60M |
| Last Close Price | 8.74 | 6.50 | 5.89 | 12.42 | 5.34 | 24.75 |
| PS Ratio | 12.47 | 13.83 | ||||
| PB Ratio | 3.59 | 2.26 | 2.41 | -12.49 | -9.88 | 6.64 |
| P/TBV Ratio | 4.07 | 2.27 | 2.44 | 7.20 | ||
| EV/Sales Ratio | 9.76 | 10.36 | ||||
| Debt / Equity Ratio | 0.02 | -0.26 | -0.92 | 0.12 | ||
| Net Debt / Equity Ratio | -0.78 | -1.06 | -1.22 | 0.04 | 0.66 | -1.13 |
| Net Debt / EBITDA Ratio | 1.56 | 2.92 | 3.99 | 0.02 | 0.07 | 0.93 |
| Net Debt / FCF Ratio | 1.33 | 3.19 | 6.12 | 0.02 | 0.09 | 1.03 |
| Asset Turnover | 0.28 | 0.16 | ||||
| Inventory Turnover | 0.40 | 0.67 | ||||
| Quick Ratio | 7.31 | 7.70 | 14.49 | 0.57 | 0.52 | 6.27 |
| Current Ratio | 9.03 | 8.65 | 15.00 | 0.73 | 0.57 | 6.75 |
| Return on Equity (ROE) | -49.53% | -40.68% | -86.00% | -313.21% | -432.14% | |
| Return on Assets (ROA) | -30.39% | -21.71% | -28.23% | -229.92% | -107.07% | -65.23% |
| Return on Capital Employed (ROCE) | -45.90% | -32.10% | -25.40% | 6,066.40% | 1,226.10% | -100.40% |
| Earnings Yield | -12.01% | -14.63% | -15.67% | -23.43% | -92.58% | -32.57% |
| FCF Yield | -16.38% | -14.63% | -8.25% | -14.98% | -70.98% | -16.49% |
| Buyback Yield / Dilution | -66.85% | -143.95% | -102.15% | -31.87% | -27.45% | -24.18% |