NASDAQ : CING
Cingulate Inc. — Financial statements
Healthcare · Biotechnology · United States
Last price 4.98 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 72.42M
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cost of Revenue | 8.52M | 9.77M | 9.45M | 15.49M | 9.00M | 3.81M |
| Gross Profit | -8.52M | -9.77M | -9.45M | -15.49M | -9.00M | -3.81M |
| Selling, General & Admin | 16.40M | 10.16M | 6.20M | 7.27M | 8.51M | 4.17M |
| Operating Expenses | 16.40M | 10.16M | 6.20M | 7.27M | 8.51M | 4.17M |
| Operating Income | -24.92M | -19.94M | -15.64M | -22.76M | -17.50M | -7.98M |
| Interest Expense | -2.17M | -1.73M | -62.86K | -829.58K | -174.51K | -30.59K |
| Interest & Investment Income | 369.27K | 369.27K | 162.10K | 53.83K | ||
| Other Non Operating Income (Expenses) | -2.07M | -1.15M | -1.01M | |||
| EBT Excluding Unusual Items | -28.80M | -22.45M | -16.56M | -23.53M | -17.68M | -8.01M |
| Other Unusual Items | -12.70M | |||||
| Pretax Income | -28.80M | -22.45M | -16.56M | -23.53M | -17.68M | -20.71M |
| Net Income | -28.80M | -22.45M | -16.56M | -23.53M | -17.68M | -20.71M |
| Net Income to Common | -28.81M | -22.45M | -16.56M | -23.53M | -17.68M | -20.71M |
| Shares Outstanding (Basic) | 8.78M | 5.06M | 1.52M | 75.44K | 50.20K | 30.89K |
| Shares Outstanding (Diluted) | 8.78M | 5.06M | 1.52M | 75.44K | 50.20K | 30.89K |
| EPS (Basic) | -3.28 | -4.44 | -10.86 | -311.99 | -352.15 | -670.44 |
| EPS (Diluted) | -3.28 | -4.44 | -10.86 | -311.99 | -352.15 | -670.44 |
| Free Cash Flow | -20.94M | -17.41M | -18.66M | -15.26M | -16.04M | -11.25M |
| Free Cash Flow Per Share | -2.38 | -3.44 | -12.24 | -202.28 | -319.48 | -364.12 |
| EBITDA | -24.47M | -19.40M | -14.99M | -22.18M | -17.11M | -7.27M |
| D&A For EBITDA | 448.04K | 540.89K | 653.09K | 582.92K | 394.01K | 708.32K |
| EBIT | -24.92M | -19.94M | -15.64M | -22.76M | -17.50M | -7.98M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 28.40M | 10.95M | 12.21M | 52.42K | 5.36M | 16.49M |
| Short-Term Investments | 933.00 | |||||
| Cash & Short-Term Investments | 28.40M | 10.95M | 12.21M | 52.42K | 5.36M | 16.49M |
| Other Receivables | 80.03K | 19.76K | 30.90K | 14.62K | 272.12K | 690.25K |
| Receivables | 80.03K | 19.76K | 30.90K | 14.62K | 272.12K | 690.25K |
| Prepaid Expenses | 269.95K | 141.66K | 34.17K | 31.30K | 533.68K | 761.59K |
| Other Current Assets | 1.46M | 893.46K | 384.42K | 480.25K | 1.71M | 936.76K |
| Total Current Assets | 30.21M | 12.01M | 12.66M | 578.59K | 7.87M | 18.88M |
| Property, Plant & Equipment | 2.86M | 3.07M | 2.20M | 2.91M | 3.54M | 4.00M |
| Total Assets | 33.07M | 15.07M | 14.86M | 3.49M | 11.41M | 22.89M |
| Accounts Payable | 1.99M | 2.04M | 1.27M | 5.20M | 762.36K | 264.69K |
| Accrued Expenses | 1.32M | 1.74M | 1.01M | 1.50M | 894.63K | 321.57K |
| Short-Term Debt | 3.00M | 5.00M | ||||
| Current Portion of Long-Term Debt | 5.07M | 6.30M | 2.53M | |||
| Current Portion of Leases | 255.13K | 238.86K | 135.09K | 375.14K | 355.81K | 310.69K |
| Other Current Liabilities | 31.16K | 155.80K | 279.73K | |||
| Total Current Liabilities | 8.63M | 10.31M | 4.97M | 10.23M | 7.01M | 1.18M |
| Long-Term Debt | 1.15M | 2.44M | ||||
| Long-Term Leases | 968.46K | 1.10M | 135.10K | 510.24K | 866.04K | |
| Total Liabilities | 9.60M | 12.56M | 7.41M | 10.36M | 7.52M | 2.04M |
| Common Stock | 1.39K | 725.00 | 340.00 | 10.00 | 61.00 | 1.13K |
| Additional Paid-In Capital | 171.02M | 134.88M | 117.38M | 86.07M | 73.29M | 72.57M |
| Retained Earnings | -147.56M | -132.38M | -109.93M | -92.94M | -69.41M | -51.73M |
| Comprehensive Income & Other | 165.00 | |||||
| Shareholders' Equity | 23.47M | 2.51M | 7.46M | -6.87M | 3.88M | 20.84M |
| Total Liabilities & Equity | 33.07M | 15.07M | 14.86M | 3.49M | 11.41M | 22.89M |
| Total Debt | 6.29M | 8.79M | 5.10M | 3.51M | 5.87M | 1.18M |
| Net Cash (Debt) | 22.11M | 2.17M | 7.11M | -3.46M | -509.77K | 15.32M |
| Net Cash Per Share | 2.52 | 0.43 | 4.66 | -45.84 | -10.16 | 495.85 |
| Filing Date Shares Outstanding | 14.54M | 11.63M | 3.77M | 417.54K | 47.12K | 47.12K |
| Total Common Shares Outstanding | 13.89M | 7.25M | 3.40M | 97.29K | 47.12K | 47.12K |
| Working Capital | 21.58M | 1.70M | 7.69M | -9.65M | 856.85K | 17.71M |
| Book Value Per Share | 1.69 | 0.35 | 2.19 | -70.61 | 82.38 | 442.32 |
| Tangible Book Value | 23.47M | 2.51M | 7.46M | -6.87M | 3.88M | 20.84M |
| Tangible Book Value Per Share | 1.69 | 0.35 | 2.19 | -70.61 | 82.38 | 442.32 |
| Machinery | 4.86M | 4.86M | 4.55M | 4.51M | 2.75M | 2.70M |
| Construction In Progress | 346.73K | 233.40K | 375.28K | 207.98K | 1.74M | 1.64M |
| Leasehold Improvements | 489.39K | 474.46K | 474.46K | 471.50K | 471.50K | 471.50K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -28.80M | -22.45M | -16.56M | -23.53M | -17.68M | -20.71M |
| Depreciation & Amortization | 448.04K | 540.89K | 653.09K | 582.92K | 394.01K | 708.32K |
| Other Amortization | 427.27K | 352.53K | ||||
| Stock-Based Compensation | 1.93M | 1.52M | 995.48K | 812.67K | 800.80K | 12.78M |
| Other Operating Activities | 3.37M | 1.96M | 1.01M | |||
| Change in Accounts Receivable | -18.86K | 18.31K | -11.70K | 219.81K | 455.82K | -538.48K |
| Change in Accounts Payable | 2.45M | 1.47M | -4.54M | 5.19M | 791.00K | -1.32M |
| Change in Other Net Operating Assets | -463.81K | -655.36K | -1.80K | 1.69M | -648.20K | -1.35M |
| Operating Cash Flow | -20.65M | -17.25M | -18.45M | -15.03M | -15.88M | -10.43M |
| Capital Expenditures | -284.48K | -162.14K | -211.80K | -224.10K | -153.42K | -814.74K |
| Investment in Securities | 933.00 | |||||
| Other Investing Activities | -165.00 | |||||
| Investing Cash Flow | -284.48K | -162.14K | -211.80K | -224.10K | -152.65K | -814.74K |
| Short-Term Debt Issued | 5.00M | |||||
| Long-Term Debt Issued | 6.00M | 4.96M | 3.00M | |||
| Total Debt Issued | 6.00M | 6.00M | 4.96M | 3.00M | 5.00M | |
| Short-Term Debt Repaid | -500.33K | |||||
| Long-Term Debt Repaid | -4.43K | -17.06K | -16.05K | -15.09K | -436.26K | |
| Total Debt Repaid | -660.00K | -4.43K | -17.06K | -16.05K | -15.09K | -936.59K |
| Net Debt Issued (Repaid) | 5.34M | 6.00M | 4.95M | 2.98M | 4.98M | -936.59K |
| Issuance of Common Stock | 35.10M | 10.15M | 25.88M | 6.97M | 32.11M | |
| Other Financing Activities | -85.92K | -4.63M | ||||
| Financing Cash Flow | 40.44M | 16.15M | 30.82M | 9.95M | 4.90M | 26.54M |
| Net Cash Flow | 19.50M | -1.26M | 12.16M | -5.30M | -11.14M | 15.30M |
| Free Cash Flow | -20.94M | -17.41M | -18.66M | -15.26M | -16.04M | -11.25M |
| Free Cash Flow Per Share | -2.38 | -3.44 | -12.24 | -202.28 | -319.48 | -364.12 |
| Levered Free Cash Flow | -12.84M | -10.43M | -12.84M | -6.39M | -9.34M | 4.55M |
| Unlevered Free Cash Flow | -11.91M | -9.70M | -12.81M | -5.87M | -9.23M | 4.57M |
| Cash Interest Paid | 4.45K | 19.89K | 6.29K | 19.42K | 19.00K | 114.72K |
| Change in Working Capital | 1.97M | 830.85K | -4.55M | 7.10M | 598.62K | -3.21M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 73.15M | 29.33M | 16.28M | 7.17M | 11.31M | 31.21M |
| Enterprise Value | 51.03M | 27.79M | 6.47M | 8.79M | 7.46M | 30.69M |
| Last Close Price | 5.03 | 4.34 | 4.93 | 91.80 | 240.00 | 662.40 |
| PB Ratio | 2.98 | 11.69 | 2.18 | -1.04 | 2.91 | 1.50 |
| P/TBV Ratio | 3.12 | 11.69 | 2.18 | 2.91 | 1.50 | |
| Debt / Equity Ratio | 0.27 | 3.50 | 0.68 | -0.51 | 1.51 | 0.06 |
| Net Debt / Equity Ratio | -0.94 | -0.86 | -0.95 | -0.50 | 0.13 | -0.73 |
| Net Debt / EBITDA Ratio | 0.90 | 0.11 | 0.47 | -0.16 | -0.03 | 2.11 |
| Net Debt / FCF Ratio | 1.06 | 0.12 | 0.38 | -0.23 | -0.03 | 1.36 |
| Quick Ratio | 3.30 | 1.06 | 2.46 | 0.01 | 0.80 | 14.60 |
| Current Ratio | 3.50 | 1.16 | 2.55 | 0.06 | 1.12 | 16.05 |
| Return on Equity (ROE) | -198.74% | -450.60% | -5,651.01% | -142.98% | -187.12% | |
| Return on Assets (ROA) | -66.94% | -83.25% | -106.54% | -190.98% | -63.80% | -34.78% |
| Return on Capital Employed (ROCE) | -102.00% | -418.80% | -158.20% | 338.00% | -398.50% | -36.80% |
| Earnings Yield | -65.20% | -76.55% | -101.73% | -328.33% | -156.30% | -66.35% |
| FCF Yield | -28.63% | -59.36% | -114.65% | -212.87% | -141.80% | -36.03% |
| Buyback Yield / Dilution | -167.56% | -231.54% | -1,921.34% | -50.28% | -62.50% |