NASDAQ : VSTM
Verastem, Inc. — Financial statements
Healthcare · Biotechnology · United States
Last price 9.75 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 1.18B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Verastem, Inc. (VSTM) reported revenue of 87.53M 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 | 87.53M | 30.91M | 10.00M | 2.60M | 2.05M | |
| Cost of Revenue | 10.81M | 4.60M | ||||
| Gross Profit | 76.71M | 26.31M | 10.00M | 2.60M | 2.05M | |
| Selling, General & Admin | 95.16M | 81.15M | 43.62M | 30.73M | 24.98M | 24.11M |
| Research & Development | 140.22M | 114.60M | 81.33M | 61.36M | 50.56M | 39.35M |
| Amortization of Goodwill & Intangibles | 1.13M | 698.00K | ||||
| Operating Expenses | 236.51M | 196.44M | 124.96M | 92.08M | 75.53M | 63.46M |
| Operating Income | -159.80M | -170.13M | -114.96M | -92.08M | -72.94M | -61.41M |
| Interest Expense | -1.48M | -1.14M | -4.56M | -4.14M | -2.14M | -9.97M |
| Interest & Investment Income | 4.69M | 4.07M | 4.15M | 6.21M | 1.22M | 181.00K |
| Other Non Operating Income (Expenses) | -45.30M | -40.45M | -15.08M | 2.64M | 47.00K | |
| EBT Excluding Unusual Items | -201.88M | -207.65M | -130.45M | -87.37M | -73.81M | -71.20M |
| Other Unusual Items | -1.83M | |||||
| Pretax Income | -201.88M | -209.47M | -130.45M | -87.37M | -73.81M | -71.20M |
| Income Tax Expense | 816.00K | 185.00K | ||||
| Net Income | -202.70M | -209.47M | -130.64M | -87.37M | -73.81M | -71.20M |
| Net Income to Common | -202.70M | -209.47M | -130.64M | -87.37M | -73.81M | -71.20M |
| Shares Outstanding (Basic) | 88.82M | 69.31M | 35.71M | 22.05M | 16.14M | 14.54M |
| Shares Outstanding (Diluted) | 88.82M | 69.31M | 35.71M | 22.05M | 16.14M | 14.54M |
| EPS (Basic) | -2.28 | -3.02 | -3.66 | -3.96 | -4.57 | -4.90 |
| EPS (Diluted) | -2.28 | -3.02 | -3.66 | -3.96 | -4.57 | -4.90 |
| Free Cash Flow | -162.19M | -137.51M | -104.80M | -86.46M | -63.67M | -53.70M |
| Free Cash Flow Per Share | -1.83 | -1.98 | -2.93 | -3.92 | -3.95 | -3.69 |
| Gross Margin | 87.64% | 85.12% | 100.00% | 100.00% | 100.00% | |
| Operating Margin | -182.57% | -550.33% | -1,149.56% | -2,809.59% | -2,991.18% | |
| Profit Margin | -231.59% | -677.59% | -1,306.37% | -2,843.30% | -3,468.10% | |
| Free Cash Flow Margin | -185.31% | -444.81% | -1,047.99% | -2,452.73% | -2,615.59% | |
| EBITDA | -158.65M | -169.40M | -114.93M | -92.02M | -72.82M | -61.20M |
| EBITDA Margin | -181.26% | |||||
| D&A For EBITDA | 1.15M | 728.00K | 26.00K | 62.00K | 118.00K | 206.00K |
| EBIT | -159.80M | -170.13M | -114.96M | -92.08M | -72.94M | -61.41M |
| EBIT Margin | -182.57% | |||||
| Revenue as Reported | 87.53M | 30.91M | 10.00M | 2.60M | 2.05M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 136.35M | 204.99M | 88.82M | 77.91M | 74.93M | 21.25M |
| Short-Term Investments | 59.22M | 12.96M | 79.00M | |||
| Cash & Short-Term Investments | 136.35M | 204.99M | 88.82M | 137.13M | 87.89M | 100.26M |
| Accounts Receivable | 28.87M | 8.81M | 127.00K | 516.00K | ||
| Other Receivables | 300.00K | 400.00K | 200.00K | 100.00K | 100.00K | |
| Receivables | 29.17M | 9.21M | 200.00K | 100.00K | 227.00K | 516.00K |
| Inventory | 2.40M | 1.83M | ||||
| Prepaid Expenses | 8.23M | 7.14M | 5.94M | 5.53M | 4.13M | 4.97M |
| Restricted Cash | 241.00K | 926.00K | 615.00K | |||
| Total Current Assets | 176.16M | 223.41M | 94.96M | 143.68M | 92.87M | 105.74M |
| Property, Plant & Equipment | 2.62M | 491.00K | 1.44M | 1.21M | 1.88M | 2.51M |
| Other Intangible Assets | 15.87M | 16.43M | ||||
| Other Long-Term Assets | 11.86M | 6.11M | 5.14M | 4.83M | 299.00K | 410.00K |
| Total Assets | 206.51M | 246.44M | 101.54M | 149.72M | 95.05M | 108.66M |
| Accounts Payable | 18.00M | 12.45M | 4.03M | 7.18M | 4.90M | 2.30M |
| Accrued Expenses | 54.20M | 53.98M | 25.95M | 17.93M | 14.98M | 15.62M |
| Current Portion of Long-Term Debt | 5.23M | 5.30M | 275.00K | |||
| Current Portion of Leases | 493.00K | 535.00K | 995.00K | 941.00K | 794.00K | 667.00K |
| Current Unearned Revenue | 327.00K | 710.00K | ||||
| Total Current Liabilities | 78.13M | 72.27M | 30.97M | 26.38M | 21.66M | 18.59M |
| Long-Term Debt | 76.27M | 81.33M | 40.72M | 44.27M | 24.53M | 249.00K |
| Long-Term Leases | 2.12M | 535.00K | 530.00K | 1.47M | 2.26M | |
| Other Long-Term Liabilities | 35.65M | 58.20M | ||||
| Total Liabilities | 156.53M | 189.25M | 130.43M | 71.19M | 47.66M | 21.10M |
| Common Stock | 9.00K | 8.00K | 4.00K | 3.00K | 2.00K | 19.00K |
| Additional Paid-In Capital | 1.28B | 1.22B | 926.63M | 882.25M | 784.91M | 751.22M |
| Retained Earnings | -1.24B | -1.16B | -955.53M | -824.89M | -737.52M | -663.71M |
| Comprehensive Income & Other | 8.04M | 5.23M | 13.00K | 34.00K | ||
| Total Common Equity | 49.99M | 57.20M | -28.89M | 57.37M | 47.39M | 87.56M |
| Shareholders' Equity | 49.99M | 57.20M | -28.89M | 78.53M | 47.39M | 87.56M |
| Total Liabilities & Equity | 206.51M | 246.44M | 101.54M | 149.72M | 95.05M | 108.66M |
| Total Debt | 84.33M | 87.17M | 42.25M | 45.75M | 27.07M | 3.18M |
| Net Cash (Debt) | 52.02M | 117.82M | 46.56M | 91.38M | 60.83M | 97.08M |
| Net Cash Per Share | 0.59 | 1.70 | 1.30 | 4.14 | 3.77 | 6.68 |
| Filing Date Shares Outstanding | 90.56M | 87.84M | 51.49M | 25.30M | 16.72M | 15.53M |
| Total Common Shares Outstanding | 90.48M | 77.74M | 44.78M | 25.28M | 16.71M | 15.44M |
| Working Capital | 98.03M | 151.15M | 63.99M | 117.30M | 71.21M | 87.15M |
| Book Value Per Share | 0.55 | 0.74 | -0.65 | 2.27 | 2.84 | 5.67 |
| Tangible Book Value | 34.12M | 40.77M | -28.89M | 57.37M | 47.39M | 87.56M |
| Tangible Book Value Per Share | 0.38 | 0.52 | -0.65 | 2.27 | 2.84 | 5.67 |
| Machinery | 1.48M | 1.50M | 1.48M | 1.48M | 1.74M | |
| Construction In Progress | 7.00K | |||||
| Leasehold Improvements | 146.00K | 146.00K | 146.00K | 146.00K | 146.00K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -202.70M | -209.47M | -130.64M | -87.37M | -73.81M | -71.20M |
| Depreciation & Amortization | 1.15M | 728.00K | 26.00K | 62.00K | 118.00K | 206.00K |
| Stock-Based Compensation | 9.68M | 9.40M | 7.34M | 5.86M | 6.05M | 7.71M |
| Other Operating Activities | 38.00M | 35.83M | 14.78M | -4.06M | 74.00K | 9.20M |
| Change in Accounts Receivable | -26.80M | -8.81M | 31.00K | 485.00K | -277.00K | |
| Change in Inventory | -1.23M | -1.83M | ||||
| Change in Accounts Payable | 9.95M | 8.42M | -3.16M | 2.28M | 2.60M | 623.00K |
| Change in Unearned Revenue | -327.00K | -383.00K | 710.00K | |||
| Change in Other Net Operating Assets | 9.75M | 28.23M | 7.20M | -2.89M | 106.00K | 238.00K |
| Operating Cash Flow | -162.19M | -137.51M | -104.77M | -86.46M | -63.67M | -53.50M |
| Capital Expenditures | -28.00K | -196.00K | ||||
| Sale (Purchase) of Intangibles | -9.62M | -9.62M | ||||
| Investment in Securities | 235.00K | 60.00M | -44.45M | 66.19M | 283.00K | |
| Investing Cash Flow | -9.39M | -9.62M | 59.97M | -44.45M | 66.19M | 87.00K |
| Short-Term Debt Issued | 1.18M | 1.30M | 1.43M | |||
| Long-Term Debt Issued | 75.00M | 14.92M | 24.15M | |||
| Total Debt Issued | 736.00K | 76.18M | 1.30M | 16.35M | 24.15M | |
| Short-Term Debt Repaid | -1.18M | -1.30M | -1.43M | |||
| Long-Term Debt Repaid | -42.58M | -150.00K | -300.00K | |||
| Total Debt Repaid | -3.49M | -43.76M | -1.45M | -1.73M | ||
| Net Debt Issued (Repaid) | -2.75M | 32.42M | -150.00K | 14.62M | 24.15M | |
| Issuance of Common Stock | 146.37M | 230.88M | 15.34M | 91.48M | 27.64M | 7.81M |
| Repurchase of Common Stock | -925.00K | |||||
| Other Financing Activities | 39.59M | |||||
| Financing Cash Flow | 143.62M | 263.31M | 54.78M | 134.19M | 51.78M | 6.88M |
| Net Cash Flow | -27.97M | 116.17M | 9.98M | 3.29M | 54.30M | -46.53M |
| Free Cash Flow | -162.19M | -137.51M | -104.80M | -86.46M | -63.67M | -53.70M |
| Free Cash Flow Margin | -185.31% | -444.81% | -1,047.99% | -2,452.73% | -2,615.59% | |
| Free Cash Flow Per Share | -1.83 | -1.98 | -2.93 | -3.92 | -3.95 | -3.69 |
| Levered Free Cash Flow | -103.43M | -82.36M | -62.41M | -50.95M | -37.58M | -37.28M |
| Unlevered Free Cash Flow | -102.51M | -81.65M | -59.56M | -48.36M | -36.24M | -31.04M |
| Cash Interest Paid | 6.36M | 6.36M | 3.77M | 3.36M | 1.54M | 1.01M |
| Cash Income Tax Paid | 185.00K | 185.00K | ||||
| Change in Working Capital | -8.32M | 26.00M | 3.72M | -957.00K | 3.90M | 584.00K |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.18B | 595.84M | 230.10M | 205.68M | 84.56M | 373.48M |
| Enterprise Value | 1.13B | 547.62M | 179.51M | 110.47M | 7.70M | 273.39M |
| Last Close Price | 9.75 | 7.72 | 5.17 | 8.14 | 4.83 | 24.60 |
| PS Ratio | 13.53 | 19.27 | 23.01 | 32.57 | 181.92 | |
| PB Ratio | 17.65 | 10.42 | -7.96 | 2.62 | 1.78 | 4.26 |
| P/TBV Ratio | 34.72 | 14.61 | 3.58 | 1.78 | 4.26 | |
| EV/Sales Ratio | 12.94 | 17.71 | 17.95 | 2.96 | 133.17 | |
| Debt / Equity Ratio | 1.69 | 1.52 | -1.46 | 0.58 | 0.57 | 0.04 |
| Net Debt / Equity Ratio | -1.04 | -2.06 | 1.61 | -1.16 | -1.28 | -1.11 |
| Net Debt / EBITDA Ratio | 0.33 | 0.70 | 0.41 | 0.99 | 0.83 | 1.59 |
| Net Debt / FCF Ratio | 0.32 | 0.86 | 0.44 | 1.06 | 0.95 | 1.81 |
| Asset Turnover | 0.43 | 0.18 | 0.08 | 0.03 | 0.02 | |
| Inventory Turnover | 6.07 | |||||
| Quick Ratio | 2.12 | 2.96 | 2.87 | 5.20 | 4.07 | 5.42 |
| Current Ratio | 2.25 | 3.09 | 3.07 | 5.45 | 4.29 | 5.69 |
| Return on Equity (ROE) | -471.16% | -1,480.15% | -526.34% | -138.76% | -109.39% | -70.20% |
| Return on Assets (ROA) | -49.59% | -61.11% | -57.19% | -47.03% | -44.76% | -29.19% |
| Return on Capital Employed (ROCE) | -124.50% | -97.70% | -162.90% | -74.70% | -99.40% | -68.20% |
| Earnings Yield | -23.41% | -35.15% | -56.77% | -42.48% | -87.29% | -19.06% |
| FCF Yield | -13.69% | -23.08% | -45.55% | -42.04% | -75.30% | -14.38% |
| Buyback Yield / Dilution | -69.55% | -94.07% | -61.93% | -36.66% | -11.03% | -13.76% |