NASDAQ : APLS
Apellis Pharmaceuticals, Inc. — Financial statements
Healthcare · Biotechnology · United States
Last price 41.03 USD (At close: May 13, 2026) · Market cap 5.25B
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Financial statements
Apellis Pharmaceuticals, Inc. (APLS) reported revenue of 1.11B 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 | 1.11B | 1.00B | 781.37M | 396.59M | 75.42M | 66.56M |
| Cost of Revenue | 394.81M | 398.09M | 445.29M | 412.90M | 392.87M | 426.07M |
| Gross Profit | 710.47M | 605.69M | 336.07M | -16.31M | -317.45M | -359.51M |
| Selling, General & Admin | 545.24M | 550.26M | 501.05M | 500.81M | 277.16M | 176.77M |
| Operating Expenses | 545.24M | 550.26M | 501.05M | 500.81M | 277.16M | 176.77M |
| Operating Income | 165.22M | 55.43M | -164.98M | -517.12M | -594.61M | -536.28M |
| Interest Expense | -43.59M | -44.33M | -40.39M | -29.58M | -32.63M | -13.24M |
| Interest & Investment Income | 13.40M | 13.14M | 12.77M | 20.93M | 8.91M | 418.00K |
| Other Non Operating Income (Expenses) | 120.00K | -133.00K | -2.17M | -727.00K | -288.00K | -96.31M |
| EBT Excluding Unusual Items | 135.15M | 24.11M | -194.77M | -526.50M | -618.61M | -645.41M |
| Other Unusual Items | -1.95M | -32.89M | -100.59M | |||
| Pretax Income | 135.15M | 24.11M | -196.72M | -526.50M | -651.50M | -746.00M |
| Income Tax Expense | 1.88M | 1.72M | 1.16M | 2.13M | 669.00K | 352.00K |
| Net Income | 133.27M | 22.39M | -197.88M | -528.63M | -652.17M | -746.35M |
| Net Income to Common | 133.27M | 22.39M | -197.88M | -528.63M | -652.17M | -746.35M |
| Shares Outstanding (Basic) | 126.70M | 126.14M | 123.91M | 118.68M | 106.11M | 84.42M |
| Shares Outstanding (Diluted) | 131.35M | 129.85M | 123.91M | 118.68M | 106.11M | 84.42M |
| EPS (Basic) | 1.05 | 0.18 | -1.60 | -4.45 | -6.15 | -8.84 |
| EPS (Diluted) | 1.03 | 0.17 | -1.60 | -4.45 | -6.15 | -8.84 |
| Free Cash Flow | 37.47M | 45.01M | -88.27M | -595.51M | -515.27M | -564.23M |
| Free Cash Flow Per Share | 0.28 | 0.35 | -0.71 | -5.02 | -4.86 | -6.68 |
| Gross Margin | 64.28% | 60.34% | 43.01% | -4.11% | ||
| Operating Margin | 14.95% | 5.52% | -21.11% | -130.39% | -788.38% | -805.67% |
| Profit Margin | 12.06% | 2.23% | -25.32% | -133.29% | -864.70% | -1,121.28% |
| Free Cash Flow Margin | 3.39% | 4.48% | -11.30% | -150.16% | -683.18% | -847.66% |
| EBITDA | 166.62M | 56.98M | -163.18M | -515.34M | -593.06M | -534.90M |
| EBITDA Margin | 15.07% | 5.68% | -20.88% | -129.94% | ||
| D&A For EBITDA | 1.40M | 1.56M | 1.80M | 1.78M | 1.55M | 1.38M |
| EBIT | 165.22M | 55.43M | -164.98M | -517.12M | -594.61M | -536.28M |
| EBIT Margin | 14.95% | 5.52% | -21.11% | -130.39% | ||
| Effective Tax Rate | 1.39% | 7.14% | ||||
| Revenue as Reported | 1.11B | 1.00B | 781.37M | 396.59M | 75.42M | 66.56M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 405.21M | 466.23M | 411.29M | 351.19M | 551.80M | 640.19M |
| Short-Term Investments | 989.00K | 1.55M | 4.85M | 4.35M | 6.50M | 61.03M |
| Cash & Short-Term Investments | 406.20M | 467.79M | 416.14M | 355.54M | 558.31M | 701.23M |
| Accounts Receivable | 445.11M | 369.16M | 271.72M | 224.50M | 29.17M | 80.10M |
| Other Receivables | 8.71M | |||||
| Receivables | 445.11M | 369.16M | 271.72M | 224.50M | 37.88M | 80.10M |
| Inventory | 133.61M | 144.76M | 82.48M | 162.66M | 99.70M | 24.00M |
| Prepaid Expenses | 17.38M | 9.52M | 9.51M | 8.59M | 7.18M | 5.17M |
| Restricted Cash | 1.52M | 1.53M | 1.32M | 1.11M | 1.27M | 1.56M |
| Other Current Assets | 24.20M | 22.10M | 7.78M | 13.93M | 15.18M | 11.98M |
| Total Current Assets | 1.03B | 1.01B | 788.95M | 766.33M | 719.52M | 824.05M |
| Property, Plant & Equipment | 20.36M | 19.90M | 19.04M | 21.09M | 24.89M | 26.08M |
| Long-Term Accounts Receivable | 15.00M | 30.00M | ||||
| Other Long-Term Assets | 34.15M | 40.51M | 77.06M | 1.31M | 799.00K | 1.64M |
| Total Assets | 1.08B | 1.08B | 885.05M | 788.73M | 760.22M | 881.76M |
| Accounts Payable | 49.05M | 56.80M | 38.57M | 37.52M | 37.34M | 16.91M |
| Accrued Expenses | 133.69M | 166.05M | 140.18M | 127.81M | 95.14M | 103.24M |
| Current Portion of Long-Term Debt | 93.74M | 93.66M | ||||
| Current Portion of Leases | 6.96M | 7.09M | 6.75M | 6.44M | 5.62M | 4.12M |
| Other Current Liabilities | 75.83M | 29.50M | 7.58M | |||
| Total Current Liabilities | 283.45M | 323.60M | 185.51M | 247.59M | 167.61M | 131.85M |
| Long-Term Debt | 362.24M | 361.66M | 452.83M | 93.03M | 92.74M | 189.02M |
| Long-Term Leases | 12.81M | 11.95M | 10.20M | 11.45M | 14.35M | 17.08M |
| Other Long-Term Liabilities | 9.11M | 7.90M | 7.97M | 242.13M | 315.65M | 345.15M |
| Total Liabilities | 667.61M | 705.11M | 656.51M | 594.21M | 590.35M | 683.10M |
| Common Stock | 13.00K | 12.00K | 12.00K | 12.00K | 11.00K | 10.00K |
| Additional Paid-In Capital | 3.41B | 3.39B | 3.27B | 3.04B | 2.48B | 1.86B |
| Retained Earnings | -2.99B | -3.01B | -3.04B | -2.84B | -2.31B | -1.66B |
| Comprehensive Income & Other | -2.41M | -2.10M | -3.31M | -3.54M | -875.00K | -2.09M |
| Total Common Equity | 414.92M | 370.15M | 228.54M | 194.52M | 169.87M | 198.66M |
| Shareholders' Equity | 414.92M | 370.15M | 228.54M | 194.52M | 169.87M | 198.66M |
| Total Liabilities & Equity | 1.08B | 1.08B | 885.05M | 788.73M | 760.22M | 881.76M |
| Total Debt | 475.76M | 474.36M | 469.78M | 110.93M | 112.71M | 210.22M |
| Net Cash (Debt) | -69.56M | -6.57M | -53.65M | 244.61M | 445.59M | 491.01M |
| Net Cash Per Share | -0.53 | -0.05 | -0.43 | 2.06 | 4.20 | 5.82 |
| Filing Date Shares Outstanding | 128.02M | 127.83M | 125.52M | 120.58M | 111.29M | 97.73M |
| Total Common Shares Outstanding | 127.92M | 126.62M | 124.50M | 119.56M | 110.77M | 97.52M |
| Working Capital | 744.57M | 691.24M | 603.45M | 518.74M | 551.91M | 692.20M |
| Book Value Per Share | 3.24 | 2.92 | 1.84 | 1.63 | 1.53 | 2.04 |
| Tangible Book Value | 414.92M | 370.15M | 228.54M | 194.52M | 169.87M | 198.66M |
| Tangible Book Value Per Share | 3.24 | 2.92 | 1.84 | 1.63 | 1.53 | 2.04 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 133.27M | 22.39M | -197.88M | -528.63M | -652.17M | -746.35M |
| Depreciation & Amortization | 1.40M | 1.56M | 1.80M | 1.78M | 1.55M | 1.49M |
| Other Amortization | 2.57M | 2.50M | 1.56M | 297.00K | 459.00K | 964.00K |
| Loss (Gain) From Sale of Assets | 120.00K | |||||
| Stock-Based Compensation | 101.80M | 104.00M | 114.13M | 105.94M | 91.08M | 70.67M |
| Other Operating Activities | 10.88M | 26.00M | 61.09M | 203.63M | ||
| Change in Accounts Receivable | -205.03M | -101.28M | -58.48M | -198.72M | 2.38M | -10.10M |
| Change in Inventory | -10.46M | -15.27M | -10.76M | -60.65M | -69.40M | -16.32M |
| Change in Accounts Payable | -6.23M | 18.22M | 1.09M | 170.00K | 18.69M | 10.49M |
| Change in Other Net Operating Assets | 20.45M | 13.21M | 49.79M | 58.94M | 32.57M | -77.59M |
| Operating Cash Flow | 37.77M | 45.33M | -87.87M | -594.74M | -513.75M | -563.13M |
| Capital Expenditures | -305.00K | -313.00K | -403.00K | -773.00K | -1.52M | -1.10M |
| Sale of Property, Plant & Equipment | 99.00K | |||||
| Investment in Securities | 61.42M | 248.72M | ||||
| Investing Cash Flow | -305.00K | -313.00K | -403.00K | -674.00K | 59.89M | 247.62M |
| Long-Term Debt Issued | 365.45M | |||||
| Net Debt Issued (Repaid) | 365.45M | |||||
| Issuance of Common Stock | 8.70M | 8.89M | 18.83M | 461.04M | 405.84M | 398.02M |
| Repurchase of Common Stock | -26.00K | -11.00K | -57.00K | -11.04M | -5.68M | -1.79M |
| Other Financing Activities | -234.98M | -55.50M | -34.50M | -4.00M | ||
| Financing Cash Flow | 8.67M | 8.88M | 149.24M | 394.50M | 365.66M | 392.24M |
| Foreign Exchange Rate Adjustments | 760.00K | 1.25M | -659.00K | 135.00K | -488.00K | -2.02M |
| Net Cash Flow | 46.90M | 55.15M | 60.31M | -200.78M | -88.68M | 74.71M |
| Free Cash Flow | 37.47M | 45.01M | -88.27M | -595.51M | -515.27M | -564.23M |
| Free Cash Flow Margin | 3.39% | 4.48% | -11.30% | -150.16% | -683.18% | -847.66% |
| Free Cash Flow Per Share | 0.28 | 0.35 | -0.71 | -5.02 | -4.86 | -6.68 |
| Levered Free Cash Flow | -63.65M | -15.46M | -35.70M | -404.84M | -304.60M | -351.61M |
| Unlevered Free Cash Flow | -38.97M | 9.74M | -12.01M | -386.65M | -284.66M | -344.30M |
| Cash Interest Paid | 40.62M | 41.23M | 29.37M | 3.29M | 5.00M | 10.27M |
| Cash Income Tax Paid | 1.56M | 1.63M | 1.65M | -1.76M | 4.92M | 49.00K |
| Change in Working Capital | -201.27M | -85.12M | -18.36M | -200.25M | -15.76M | -93.52M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 5.25B | 3.18B | 3.97B | 7.09B | 5.72B | 4.54B |
| Enterprise Value | 5.32B | 3.17B | 4.04B | 6.74B | 5.12B | 4.32B |
| Last Close Price | 41.03 | 25.12 | 31.91 | 59.86 | 51.71 | 47.28 |
| PE Ratio | 39.98 | 141.97 | ||||
| Forward PE | 209.26 | 278.91 | ||||
| PS Ratio | 4.75 | 3.17 | 5.08 | 17.89 | 75.81 | 68.22 |
| PB Ratio | 12.65 | 8.59 | 17.37 | 36.47 | 33.66 | 22.86 |
| P/TBV Ratio | 12.66 | 8.59 | 17.37 | 36.47 | 33.66 | 22.86 |
| P/FCF Ratio | 140.20 | 70.61 | ||||
| P/OCF Ratio | 139.07 | 70.12 | ||||
| EV/Sales Ratio | 4.82 | 3.16 | 5.17 | 16.99 | 67.92 | 64.94 |
| EV/EBITDA Ratio | 31.94 | 55.69 | ||||
| EV/EBIT Ratio | 32.21 | 57.26 | ||||
| EV/FCF Ratio | 142.06 | 70.50 | ||||
| Debt / Equity Ratio | 1.15 | 1.28 | 2.06 | 0.57 | 0.66 | 1.06 |
| Debt / EBITDA Ratio | 2.68 | 7.03 | ||||
| Debt / FCF Ratio | 12.70 | 10.54 | ||||
| Net Debt / Equity Ratio | 0.17 | 0.02 | 0.23 | -1.26 | -2.62 | -2.47 |
| Net Debt / EBITDA Ratio | 0.42 | 0.12 | -0.33 | 0.47 | 0.75 | 0.92 |
| Net Debt / FCF Ratio | 1.86 | 0.15 | -0.61 | 0.41 | 0.86 | 0.87 |
| Asset Turnover | 1.17 | 1.02 | 0.93 | 0.51 | 0.09 | 0.07 |
| Inventory Turnover | 3.47 | 3.50 | 3.63 | 3.15 | 6.35 | |
| Quick Ratio | 3.00 | 2.59 | 3.71 | 2.34 | 3.56 | 5.93 |
| Current Ratio | 3.63 | 3.14 | 4.25 | 3.10 | 4.29 | 6.25 |
| Return on Equity (ROE) | 46.02% | 7.48% | -93.55% | -290.14% | -353.93% | -370.20% |
| Return on Assets (ROA) | 10.93% | 3.53% | -12.32% | -41.73% | -45.27% | -36.39% |
| Return on Invested Capital (ROIC) | 37.84% | 15.62% | -142.16% | |||
| Return on Capital Employed (ROCE) | 20.70% | 7.40% | -23.60% | -95.60% | -100.30% | -71.50% |
| Earnings Yield | 2.54% | 0.70% | -4.98% | -7.45% | -11.41% | -16.44% |
| FCF Yield | 0.71% | 1.42% | -2.22% | -8.39% | -9.01% | -12.43% |
| Buyback Yield / Dilution | -5.48% | -4.80% | -4.40% | -11.84% | -25.70% | -12.32% |