Detailed financial statements for Precision BioSciences, Inc. (DTIL): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year with up to 20 years of history.
Precision BioSciences, Inc. is a clinical-stage biotechnology firm based in the United States, specializing in the creation of both in vivo gene editing solutions and ex vivo allogeneic CAR T-cell therapies. At its core is ARCUS, a proprietary genome editing platform designed to address and potentially cure genetic diseases.
Analysis Summary
Precision BioSciences, Inc. reported revenue of $34.3M in the most recent fiscal year, growing at a 5-year CAGR of 7.1%.
Trailing-twelve-month margins: gross margin 100.0%, operating margin -80.8%, net margin -117.0%.
At the current price of $6.63, DTIL has negative trailing earnings (P/E not meaningful) and an ROE of -91.60%. Market capitalisation stands at $85M.
Balance sheet quality for DTIL: current ratio of 13.3, net cash position of $86.8M. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Income Statement (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.0M | $6.5M | $10.9M | $22.2M | $24.3M | $115.5M | $25.1M | $48.7M | $68.7M | $34.3M |
| Cost of Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Gross Profit | $7.0M | $6.5M | $10.9M | $22.2M | $24.3M | $115.5M | $25.1M | $48.7M | $68.7M | $34.3M |
| Research & Development | $9.1M | $20.3M | $45.1M | $82.4M | $98.1M | $115.2M | $46.1M | $53.4M | $59.6M | $54.2M |
| Selling, General & Admin | $6.1M | $8.0M | $13.7M | $27.0M | $36.1M | $39.7M | $41.3M | $39.1M | $35.3M | $32.2M |
| Operating Expenses | $15.2M | $28.3M | $58.8M | $109.4M | $134.1M | $154.9M | $87.4M | $92.5M | $94.9M | $86.4M |
| Operating Income | -$8.8M | -$22.0M | -$47.9M | -$87.2M | -$109.8M | -$39.4M | -$62.3M | -$43.7M | -$26.2M | -$52.1M |
| EBITDA | -$8.2M | -$20.4M | -$43.7M | -$87.4M | -$99.2M | -$20.3M | -$62.8M | -$32.0M | $13.5M | -$42.4M |
| Interest Expense | 0 | 0 | 0 | $182000 | 0 | $132000 | $1.1M | $2.2M | $1.8M | $1.4M |
| Pre-tax Income | -$8.3M | -$21.1M | -$46.0M | -$92.9M | -$109.0M | -$30.6M | -$72.9M | -$42.5M | $7.2M | -$46.6M |
| Income Tax | -$5000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Income | -$8.3M | -$21.1M | -$46.0M | -$92.9M | -$109.0M | -$30.6M | -$111.6M | -$61.3M | $7.2M | -$45.7M |
| EPS | $-0.49 | $-18.81 | $-28.17 | $-59.50 | $-62.85 | $-15.60 | $-38.10 | $-15.96 | $1.05 | $-3.56 |
| EPS (Diluted) | $-0.49 | $-18.81 | $-28.17 | $-59.50 | $-62.85 | $-15.60 | $-38.10 | $-15.96 | $1.04 | $-3.56 |
| Shares Outstanding (Diluted) | $16.7M | $1.1M | $1.6M | $1.4M | $1.7M | $2.0M | $2.9M | $3.8M | $6.9M | $12.8M |
Income Statement (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Revenue | $13000 | $34.2M | $10.8M | 0 |
| Gross Profit | $13000 | $34.2M | $10.8M | 0 |
| Operating Income | -$20.7M | $12.5M | -$9.1M | -$19.2M |
| EBITDA | -$20.7M | $20.3M | -$17.5M | -$32.1M |
| Net Income | -$21.8M | $20.1M | -$18.4M | -$32.7M |
| EPS | $-1.84 | $1.06 | $-0.75 | $-1.26 |
| EPS (Diluted) | $-1.84 | $1.05 | $-0.75 | $-1.26 |
Balance Sheet (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $93.4M | $62.8M | $103.2M | $180.9M | $89.8M | $143.7M | $189.6M | $116.7M | $85.9M | $110.8M |
| Short-term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $413000 | $4.8M |
| Receivables | $386000 | $22000 | $523000 | $965000 | $10.0M | $488000 | $720000 | $12.8M | $1.7M | 0 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | $94.4M | $64.3M | $115.7M | $193.7M | $105.6M | $161.8M | $199.1M | $136.4M | $95.0M | $118.7M |
| Property, Plant & Equipment | $3.5M | $8.1M | $21.1M | $39.6M | $41.5M | $29.3M | $13.8M | $14.6M | $10.2M | $7.2M |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | $90000 | $1.5M | $1.4M | $1.4M | $2.0M | $731000 | $400000 | $622000 | $1.2M |
| Total Assets | $98.4M | $72.7M | $138.6M | $235.2M | $150.2M | $211.5M | $238.2M | $159.8M | $136.4M | $154.4M |
| Accounts Payable | $1.3M | $1.8M | $2.2M | $2.0M | $792000 | $1.1M | $653000 | $3.0M | $1.3M | $296000 |
| Short-term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $22.4M | 0 | 0 |
| Total Current Liabilities | $8.3M | $9.2M | $14.1M | $26.9M | $42.8M | $36.0M | $59.7M | $50.0M | $15.0M | $8.9M |
| Long-term Debt | 0 | 0 | 0 | 0 | 0 | $2.5M | $22.2M | 0 | $22.3M | $22.4M |
| Total Liabilities | $103.2M | $99.1M | $98.6M | $96.9M | $105.7M | $120.3M | $177.7M | $140.9M | $80.0M | $62.2M |
| Retained Earnings | -$18.0M | -$39.1M | -$85.2M | -$177.1M | -$286.1M | -$316.7M | -$428.3M | -$489.6M | -$482.5M | -$528.2M |
| Total Equity | -$4.7M | -$26.4M | $40.0M | $138.3M | $44.4M | $91.2M | $60.4M | $18.9M | $56.4M | $92.2M |
| Total Debt | 0 | 0 | 0 | 0 | $10.5M | $9.1M | $25.0M | $31.3M | $30.0M | $28.8M |
| Net Debt | -$93.4M | -$62.8M | -$103.2M | -$180.9M | -$79.3M | -$134.6M | -$164.6M | -$85.4M | -$56.3M | -$86.8M |
| Working Capital | $86.1M | $55.1M | $101.6M | $166.7M | $62.7M | $125.8M | $139.4M | $86.4M | $80.0M | $109.8M |
Balance Sheet (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Cash & Equivalents | $44.9M | $110.8M | $99.4M | $86.1M |
| Total Assets | $93.5M | $154.4M | $143.9M | $125.9M |
| Total Liabilities | $76.9M | $62.2M | $67.8M | $80.6M |
| Total Equity | $16.6M | $92.2M | $76.1M | $45.3M |
| Total Debt | $29.1M | $28.8M | $28.5M | $28.1M |
Cash Flow (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | -$8.3M | -$21.1M | -$46.0M | -$92.9M | -$109.0M | -$30.6M | -$111.6M | -$61.3M | $7.2M | -$45.7M |
| Depreciation & Amortization | $640000 | $1.4M | $2.4M | $5.3M | $9.8M | $10.2M | $9.0M | $8.3M | $4.6M | $2.8M |
| Stock-based Compensation | 0 | $419000 | $2.5M | 0 | $13.8M | $16.5M | $19.2M | $14.0M | $12.6M | $10.2M |
| Change in Working Capital | $99.7M | -$5.1M | -$10.5M | -$2.4M | -$2.0M | $19.6M | $24.1M | -$41.5M | -$54.0M | -$24.7M |
| Operating Cash Flow | $92.3M | -$24.2M | -$51.7M | -$73.6M | -$87.4M | -$10.9M | -$45.8M | -$84.1M | -$58.4M | -$65.8M |
| Capital Expenditure | -$2.1M | -$5.6M | -$15.7M | -$24.7M | -$5.0M | -$5.8M | -$3.3M | -$2.3M | -$250000 | -$85000 |
| Acquisitions | 0 | $50000 | $15000 | 0 | 0 | 0 | 0 | $8.0M | $60000 | 0 |
| Stock Repurchased | 0 | -$952000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | $90.2M | -$29.7M | -$67.4M | -$98.3M | -$92.4M | -$16.7M | -$49.1M | -$86.4M | -$58.7M | -$65.9M |
Cash Flow (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Operating Cash Flow | -$15.3M | -$11.2M | -$11.9M | -$13.4M |
| Capital Expenditure | 0 | -$34000 | -$18000 | 0 |
| Free Cash Flow | -$15.3M | -$11.3M | -$12.0M | -$13.4M |
| Dividends Paid | 0 | 0 | 0 | 0 |
| Stock-based Compensation | $2.4M | $2.0M | $1.5M | $1.8M |
Growth & Margins (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue Growth (YoY) | -7.6% | +67.8% | +104.3% | +9.2% | +375.7% | -78.3% | +94.1% | +41.0% | -50.1% | |
| Net Income Growth (YoY) | -155.8% | -118.2% | -101.7% | -17.4% | +71.9% | -264.8% | +45.1% | +111.7% | -738.0% | |
| EPS Growth (YoY) | -3738.8% | -49.8% | -111.2% | -5.6% | +75.2% | -144.2% | +58.1% | +106.6% | -439.0% | |
| Shares Change (YoY) | -93.3% | +45.7% | -14.3% | +23.9% | +12.8% | +49.8% | +31.1% | +79.2% | +86.3% | |
| FCF Growth (YoY) | -133.0% | -126.7% | -45.8% | +6.0% | +82.0% | -194.6% | -76.1% | +32.1% | -12.3% | |
| Gross Margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating Margin | -125.8% | -338.9% | -440.2% | -392.1% | -452.2% | -34.1% | -248.3% | -89.8% | -38.1% | -152.2% |
| EBITDA Margin | -116.7% | -314.9% | -401.4% | -392.9% | -408.5% | -17.5% | -250.2% | -65.8% | 19.7% | -123.8% |
| Net Margin | -117.6% | -325.4% | -423.0% | -417.6% | -448.9% | -26.5% | -444.8% | -125.8% | 10.4% | -133.4% |
| FCF Margin | 1285.8% | -458.6% | -619.3% | -442.0% | -380.6% | -14.4% | -195.5% | -177.3% | -85.4% | -192.4% |
| Effective Tax Rate | 0.1% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | 0.0% | -0.0% |
Per-Share Data (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| FCF Per Share | $5.39 | $-26.51 | $-41.24 | $-70.22 | $-53.28 | $-8.51 | $-16.75 | $-22.49 | $-8.53 | $-5.14 |
| Dividends Per Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Shares Outstanding (Basic) | $16.7M | $1.1M | $1.6M | $1.4M | $1.7M | $2.0M | $2.9M | $3.8M | $6.8M | $12.8M |
What to look at in Biotech
Most small biotechs lose money. Analysing them with P/E makes no sense — look at cash and pipeline.
- Cash Runway — Months of cash at current burn rate. <18 months = urgent dilution risk
- Annual cash burn — Rate at which they burn operating cash. Compare with cash position to project runway
- Total Debt — Biotech with no revenue + debt = recipe for bankruptcy
- R&D / Market cap — How much they invest in pipeline vs the company value — research-intensity indicator
- Market cap / Cash — If it trades near its cash, the market assigns ~0 value to the pipeline — opportunity or trap
Profitability
| Return on Equity | -91.60% |
| Return on Invested Capital | -30.23% |
| Return on Assets | -41.88% |
| Gross Margin | 100.00% |
| Operating Margin | -80.78% |
| Net Margin | -117.04% |
Financial Health
| Debt / Equity | 0.62 |
| Current Ratio | 12.82 |
| Piotroski F-Score | 2 |
| Altman Z-Score | -4.31 |
Key Ratios (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | -1067.76 | -27.81 | -18.57 | -7.00 | -3.98 | -14.23 | -0.94 | -0.69 | 3.63 | -1.17 |
| P/B | -1844.03 | -22.26 | 21.40 | 4.22 | 9.77 | 4.76 | 1.73 | 2.23 | 0.46 | 0.58 |
| P/S | 1248.37 | 90.52 | 78.57 | 26.23 | 17.87 | 3.76 | 4.17 | 0.86 | 0.38 | 1.56 |
| Gross Margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating Margin | -125.8% | -338.9% | -440.2% | -392.1% | -452.2% | -34.1% | -248.3% | -89.8% | -38.1% | -152.2% |
| Net Margin | -117.6% | -325.4% | -423.0% | -417.6% | -448.9% | -26.5% | -444.8% | -125.8% | 10.4% | -133.4% |
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Explore sector: Healthcare · Biotechnology
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