NASDAQ : GHRS
GH Research PLC — Financial statements
Healthcare · Biotechnology · Ireland
Last price 21.5 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 1.48B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Selling, General & Admin | 24.75M | 21.95M | 15.30M | 11.40M | 10.07M | 6.55M |
| Research & Development | 46.73M | 38.77M | 35.02M | 29.82M | 20.48M | 8.55M |
| Operating Expenses | 71.43M | 60.68M | 50.25M | 41.22M | 30.68M | 15.10M |
| Operating Income | -71.43M | -60.68M | -50.25M | -41.22M | -30.68M | -15.10M |
| Interest Expense | -278.00K | -463.00K | -717.00K | -723.00K | -123.00K | -9.00K |
| Interest & Investment Income | 3.53M | 5.08M | 6.28M | 6.03M | 858.00K | |
| Currency Exchange Gain (Loss) | -708.00K | 1.75M | 2.13M | -2.62M | 7.18M | 5.91M |
| EBT Excluding Unusual Items | -68.89M | -54.30M | -42.56M | -38.54M | -22.76M | -9.20M |
| Gain (Loss) on Sale of Investments | 6.62M | 6.05M | 3.60M | 2.95M | 308.00K | |
| Pretax Income | -62.27M | -48.26M | -38.96M | -35.59M | -22.46M | -9.20M |
| Net Income | -62.27M | -48.26M | -38.96M | -35.59M | -22.46M | -9.20M |
| Net Income to Common | -62.27M | -48.26M | -38.96M | -35.59M | -22.46M | -9.20M |
| Shares Outstanding (Basic) | 63.17M | 61.04M | 52.03M | 52.02M | 52.02M | 43.68M |
| Shares Outstanding (Diluted) | 63.17M | 61.04M | 52.03M | 52.02M | 52.02M | 43.68M |
| EPS (Basic) | -0.99 | -0.79 | -0.75 | -0.68 | -0.43 | -0.21 |
| EPS (Diluted) | -0.99 | -0.79 | -0.75 | -0.68 | -0.43 | -0.21 |
| Free Cash Flow | -51.84M | -43.67M | -42.33M | -33.44M | -26.27M | -15.39M |
| Free Cash Flow Per Share | -0.82 | -0.71 | -0.81 | -0.64 | -0.51 | -0.35 |
| EBITDA | -71.33M | -60.60M | -50.18M | -40.91M | -30.63M | -15.08M |
| D&A For EBITDA | 101.00K | 77.00K | 68.00K | 315.00K | 47.00K | 19.00K |
| EBIT | -71.43M | -60.68M | -50.25M | -41.22M | -30.68M | -15.10M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 345.05M | 246.25M | 100.79M | 78.42M | 165.96M | 276.78M |
| Short-Term Investments | 17.60M | 34.46M | 29.15M | 27.52M | ||
| Trading Asset Securities | 19.39M | 55.62M | ||||
| Cash & Short-Term Investments | 362.65M | 280.71M | 149.32M | 161.56M | 165.96M | 276.78M |
| Other Receivables | 1.29M | 1.73M | 297.00K | 90.00K | 48.00K | |
| Receivables | 1.29M | 1.73M | 297.00K | 90.00K | 48.00K | |
| Prepaid Expenses | 3.97M | 3.17M | 2.23M | 2.45M | 3.01M | |
| Other Current Assets | 6.17M | 47.00K | 10.00K | |||
| Total Current Assets | 368.82M | 285.98M | 154.22M | 164.09M | 168.54M | 279.84M |
| Property, Plant & Equipment | 502.00K | 620.00K | 748.00K | 1.07M | 97.00K | 82.00K |
| Long-Term Investments | 33.30M | 61.14M | 85.72M | |||
| Other Long-Term Assets | 3.02M | 1.63M | ||||
| Total Assets | 372.35M | 288.23M | 188.27M | 226.30M | 254.36M | 279.92M |
| Accounts Payable | 5.93M | 3.77M | 3.74M | 3.49M | 1.87M | 883.00K |
| Accrued Expenses | 3.83M | 4.25M | 2.67M | 2.58M | 1.79M | |
| Current Portion of Leases | 354.00K | 365.00K | 255.00K | 343.00K | ||
| Other Current Liabilities | 6.57M | 407.00K | 704.00K | 203.00K | 95.00K | 72.00K |
| Total Current Liabilities | 12.85M | 8.38M | 8.95M | 6.70M | 4.55M | 2.75M |
| Long-Term Leases | 6.00K | 147.00K | 369.00K | 631.00K | ||
| Total Liabilities | 12.86M | 8.53M | 9.32M | 7.33M | 4.55M | 2.75M |
| Common Stock | 1.72M | 1.55M | 1.30M | 1.30M | 1.30M | 1.30M |
| Additional Paid-In Capital | 542.67M | 431.06M | 291.46M | 291.46M | 291.45M | 304.41M |
| Retained Earnings | -187.84M | -154.43M | -106.45M | -67.94M | -32.49M | -10.04M |
| Comprehensive Income & Other | 2.94M | 1.52M | -7.37M | -5.86M | -10.44M | -18.50M |
| Shareholders' Equity | 359.49M | 279.70M | 178.95M | 218.97M | 249.82M | 277.18M |
| Total Liabilities & Equity | 372.35M | 288.23M | 188.27M | 226.30M | 254.36M | 279.92M |
| Total Debt | 360.00K | 512.00K | 624.00K | 974.00K | ||
| Net Cash (Debt) | 362.29M | 280.20M | 182.00M | 221.73M | 251.68M | 276.78M |
| Net Cash Per Share | 5.74 | 4.59 | 3.50 | 4.26 | 4.84 | 6.34 |
| Filing Date Shares Outstanding | 68.64M | 62.03M | 62.03M | 52.03M | 52.02M | 52.02M |
| Total Common Shares Outstanding | 68.64M | 62.03M | 52.03M | 52.03M | 52.02M | 52.02M |
| Working Capital | 355.97M | 277.60M | 145.27M | 157.39M | 164.00M | 277.09M |
| Book Value Per Share | 5.24 | 4.51 | 3.44 | 4.21 | 4.80 | 5.33 |
| Tangible Book Value | 359.49M | 279.70M | 178.95M | 218.97M | 249.82M | 277.18M |
| Tangible Book Value Per Share | 5.24 | 4.51 | 3.44 | 4.21 | 4.80 | 5.33 |
| Machinery | 409.00K | 257.00K | 260.00K | 163.00K | 101.00K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -62.27M | -48.26M | -38.96M | -35.59M | -22.46M | -9.20M |
| Depreciation & Amortization | 359.00K | 335.00K | 315.00K | 315.00K | 47.00K | 19.00K |
| Stock-Based Compensation | 8.98M | 8.50M | 1.17M | 2.29M | 1.67M | 366.00K |
| Provision & Write-off of Bad Debts | -56.00K | -42.00K | -66.00K | -1.00K | 121.00K | |
| Other Operating Activities | 3.63M | -997.00K | -4.93M | -2.00M | -7.74M | -5.91M |
| Change in Other Net Operating Assets | -2.35M | -3.09M | 188.00K | 1.65M | 2.16M | -559.00K |
| Operating Cash Flow | -51.70M | -43.55M | -42.28M | -33.34M | -26.20M | -15.28M |
| Capital Expenditures | -138.00K | -121.00K | -49.00K | -100.00K | -67.00K | -104.00K |
| Investment in Securities | 33.74M | 46.29M | 65.18M | -54.00M | -84.62M | |
| Investing Cash Flow | 33.60M | 46.17M | 65.14M | -54.10M | -84.69M | -104.00K |
| Long-Term Debt Repaid | -197.00K | -304.00K | -219.00K | |||
| Lease Payments | -275.00K | -197.00K | -304.00K | -219.00K | ||
| Net Debt Issued (Repaid) | -275.00K | -197.00K | -304.00K | -219.00K | ||
| Issuance of Common Stock | 118.04M | 150.00M | 15.00K | 309.20M | ||
| Other Financing Activities | -6.03M | -10.15M | -22.75M | |||
| Financing Cash Flow | 111.74M | 139.65M | -304.00K | -204.00K | 286.45M | |
| Foreign Exchange Rate Adjustments | -2.46M | 3.19M | -175.00K | 105.00K | 66.00K | -179.00K |
| Net Cash Flow | 91.18M | 145.46M | 22.37M | -87.53M | -110.82M | 270.88M |
| Free Cash Flow | -51.84M | -43.67M | -42.33M | -33.44M | -26.27M | -15.39M |
| Free Cash Flow Per Share | -0.82 | -0.71 | -0.81 | -0.64 | -0.51 | -0.35 |
| Levered Free Cash Flow | -36.52M | -30.54M | -30.42M | -21.83M | -15.29M | -9.67M |
| Unlevered Free Cash Flow | -36.35M | -30.25M | -29.97M | -21.38M | -15.21M | -9.67M |
| Free Cash Flow After Leases | -52.12M | -43.87M | -42.64M | -33.66M | -26.27M | -15.39M |
| Cash Interest Paid | 366.00K | 639.00K | 723.00K | 648.00K | 9.00K | |
| Change in Working Capital | -2.35M | -3.09M | 188.00K | 1.65M | 2.16M | -559.00K |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.43B | 787.77M | 364.20M | 301.72M | 505.64M | 1.21B |
| Enterprise Value | 1.07B | 494.47M | 171.09M | 73.92M | 248.70M | 932.90M |
| Last Close Price | 20.86 | 12.70 | 7.00 | 5.80 | 9.72 | 23.33 |
| PB Ratio | 3.98 | 2.82 | 2.04 | 1.38 | 2.02 | 4.38 |
| P/TBV Ratio | 3.98 | 2.82 | 2.04 | 1.38 | 2.02 | 4.38 |
| Debt / Equity Ratio | 0.00 | 0.00 | 0.00 | 0.00 | ||
| Net Debt / Equity Ratio | -1.01 | -1.00 | -1.02 | -1.01 | -1.01 | -1.00 |
| Net Debt / EBITDA Ratio | 5.08 | 4.62 | 3.63 | 5.42 | 8.22 | 18.35 |
| Net Debt / FCF Ratio | 6.99 | 6.42 | 4.30 | 6.63 | 9.58 | 17.99 |
| Quick Ratio | 28.21 | 33.65 | 16.87 | 24.15 | 36.53 | 100.70 |
| Current Ratio | 28.70 | 34.13 | 17.23 | 24.49 | 37.08 | 101.80 |
| Return on Equity (ROE) | -18.79% | -21.04% | -19.58% | -15.18% | -8.52% | -6.51% |
| Return on Assets (ROA) | -13.02% | -15.92% | -15.15% | -10.72% | -7.18% | -6.60% |
| Return on Capital Employed (ROCE) | -19.90% | -21.70% | -28.00% | -18.80% | -12.30% | -5.40% |
| Earnings Yield | -4.73% | -6.13% | -10.70% | -11.79% | -4.44% | -0.76% |
| FCF Yield | -3.62% | -5.54% | -11.62% | -11.08% | -5.20% | -1.27% |
| Buyback Yield / Dilution | -12.74% | -17.33% | -0.01% | -0.00% | -19.09% | -54.03% |