Detailed financial statements for Editas Medicine, Inc. (EDIT): 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.
Editas Medicine, Inc., a clinical stage genome editing company, focuses on developing transformative genomic medicines to treat a range of serious diseases. The company develops a proprietary gene editing platform based on CRISPR technology. Its lead program is EDIT-401, a one-time therapy designed to reduce LDL cholesterol through the upregulation of the LDL receptor to treat hyperlipidemia.
Analysis Summary
Editas Medicine, Inc. reported revenue of $40.5M in the most recent fiscal year, growing at a 5-year CAGR of -14.9%.
Trailing-twelve-month margins: gross margin 56.9%, operating margin -174.7%, net margin -157.3%.
At the current price of $2.71, EDIT has negative trailing earnings (P/E not meaningful) and an ROE of -196.63%. Market capitalisation stands at $416M.
Balance sheet quality for EDIT: current ratio of 3.5, net cash position of $69.9M. 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 | $6.1M | $13.7M | $31.9M | $20.5M | $90.7M | $25.5M | $19.7M | $78.1M | $32.3M | $40.5M |
| Cost of Revenue | $57.0M | $83.2M | $90.7M | $96.9M | $158.0M | $5.1M | $6.3M | $6.1M | $199.2M | 0 |
| Gross Profit | -$50.9M | -$69.4M | -$58.7M | -$76.4M | -$67.3M | $20.5M | $13.4M | $72.1M | -$166.9M | $40.5M |
| Research & Development | $57.0M | $83.2M | $90.7M | $96.9M | $158.0M | $142.5M | $175.0M | $177.7M | $199.2M | $90.0M |
| Selling, General & Admin | $46.3M | $50.5M | $55.0M | $64.6M | $67.6M | $76.2M | $70.7M | $69.7M | $72.0M | $49.9M |
| Operating Expenses | $103.2M | $133.7M | $145.7M | $64.6M | $67.6M | $213.6M | $239.3M | $241.2M | $84.2M | $139.9M |
| Operating Income | -$97.2M | -$119.9M | -$113.7M | -$140.9M | -$134.8M | -$193.1M | -$225.9M | -$169.2M | -$251.2M | -$99.3M |
| EBITDA | -$96.1M | -$116.7M | -$110.5M | -$138.1M | -$130.9M | -$187.4M | -$214.1M | -$147.2M | -$233.1M | -$148.6M |
| Interest Expense | 0 | $978000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $6.2M |
| Pre-tax Income | -$97.2M | -$120.3M | -$110.0M | -$133.7M | -$116.0M | -$192.5M | -$220.4M | -$153.2M | -$237.1M | -$160.1M |
| Income Tax | 0 | -$1.1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Income | -$97.2M | -$120.3M | -$110.0M | -$133.7M | -$116.0M | -$192.5M | -$220.4M | -$153.2M | -$237.1M | -$160.1M |
| EPS | $-3.02 | $-2.98 | $-2.33 | $-2.47 | $-1.98 | $-2.85 | $-3.21 | $-2.02 | $-2.88 | $-1.80 |
| EPS (Diluted) | $-3.02 | $-2.98 | $-2.33 | $-2.47 | $-1.98 | $-2.85 | $-3.21 | $-2.02 | $-2.88 | $-1.80 |
| Shares Outstanding (Diluted) | $32.2M | $40.3M | $47.1M | $50.0M | $58.6M | $67.6M | $68.7M | $76.0M | $82.3M | $88.7M |
Income Statement (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Revenue | $7.5M | $24.7M | $2.8M | $11.9M |
| Gross Profit | -$12.2M | $24.7M | $2.3M | $11.9M |
| Operating Income | -$24.5M | -$14.0M | -$25.0M | -$18.6M |
| EBITDA | -$22.0M | -$5.3M | -$23.4M | -$19.5M |
| Net Income | -$25.1M | -$5.6M | -$25.0M | -$18.2M |
| EPS | $-0.28 | $-0.06 | $-0.26 | $-0.15 |
| EPS (Diluted) | $-0.28 | $-0.06 | $-0.26 | $-0.15 |
Balance Sheet (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $185.3M | $146.6M | $134.8M | $238.2M | $139.7M | $203.5M | $141.5M | $123.7M | $131.5M | $146.6M |
| Short-term Investments | 0 | $182.5M | $234.2M | $219.0M | $262.4M | $296.3M | $202.8M | $199.5M | $138.4M | 0 |
| Receivables | $88000 | $679000 | $30000 | $418000 | $6.0M | $267000 | $5.1M | $10.2M | $16.3M | $15.2M |
| Inventory | $1.7M | $1.9M | $2.9M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | $187.2M | $332.2M | $374.8M | $463.8M | $419.1M | $507.3M | $356.8M | $340.8M | $289.3M | $163.9M |
| Property, Plant & Equipment | $40.4M | $39.4M | $40.2M | $39.6M | $39.1M | $43.3M | $59.2M | $45.7M | $47.1M | $19.7M |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Assets | $229.2M | $373.3M | $420.4M | $508.9M | $572.6M | $677.5M | $514.3M | $499.2M | $341.6M | $186.5M |
| Accounts Payable | $4.6M | $4.0M | $5.3M | $5.8M | $6.4M | $5.0M | $9.5M | $8.3M | $5.5M | $2.6M |
| Short-term Debt | $10.0M | $7.5M | 0 | 0 | 0 | 0 | 0 | $12.0M | 0 | $11.0M |
| Total Current Liabilities | $33.1M | $36.7M | $35.9M | $60.0M | $58.2M | $46.9M | $60.1M | $63.2M | $77.2M | $46.2M |
| Long-term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $53.6M |
| Total Liabilities | $94.6M | $165.2M | $184.2M | $246.4M | $179.0M | $123.8M | $153.6M | $150.1M | $207.3M | $159.2M |
| Retained Earnings | -$185.5M | -$305.9M | -$416.3M | -$549.2M | -$665.2M | -$857.7M | -$1.08B | -$1.23B | -$1.47B | -$1.63B |
| Total Equity | $134.6M | $208.1M | $236.2M | $262.4M | $393.6M | $553.6M | $360.7M | $349.1M | $134.3M | $27.3M |
| Total Debt | $35.1M | $33.4M | $32.4M | $29.1M | $26.1M | $26.4M | $43.9M | $48.5M | $35.0M | $76.7M |
| Net Debt | -$150.2M | -$295.7M | -$336.5M | -$428.1M | -$376.0M | -$473.5M | -$300.3M | -$274.6M | -$234.9M | -$69.9M |
| Working Capital | $154.1M | $295.5M | $338.9M | $403.9M | $360.9M | $460.4M | $296.6M | $277.6M | $212.1M | $117.6M |
Balance Sheet (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Cash & Equivalents | $165.6M | $146.6M | $123.6M | $181.8M |
| Total Assets | $201.8M | $186.5M | $149.3M | $237.4M |
| Total Liabilities | $188.3M | $159.2M | $144.9M | $132.1M |
| Total Equity | $13.5M | $27.3M | $4.4M | $105.3M |
| Total Debt | $19.7M | $76.7M | $72.0M | $15.5M |
Cash Flow (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | -$97.2M | -$120.3M | -$110.0M | -$133.7M | -$116.0M | -$192.5M | -$220.4M | -$153.2M | -$237.1M | -$160.1M |
| Depreciation & Amortization | $1.2M | $2.7M | $3.3M | $2.8M | $4.0M | $5.1M | $6.3M | $6.1M | $5.8M | $5.3M |
| Stock-based Compensation | $16.9M | $23.4M | $26.6M | $27.2M | $23.2M | $43.4M | $29.3M | $19.8M | $21.4M | $10.0M |
| Change in Working Capital | $18.5M | $70.7M | $26.9M | $65.9M | -$102.2M | -$21.4M | $8.2M | -$1.6M | $3.5M | -$31.2M |
| Operating Cash Flow | -$49.9M | -$9.4M | -$45.7M | -$40.7M | -$179.8M | -$163.8M | -$177.3M | -$132.2M | -$210.3M | -$165.2M |
| Capital Expenditure | -$3.5M | -$2.1M | -$4.8M | -$6.2M | -$7.2M | -$8.0M | -$4.1M | -$4.7M | -$8.8M | -$607000 |
| Acquisitions | $20000 | $15000 | $37000 | $102000 | $12000 | $46.5M | $18000 | 0 | 0 | $269000 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | -$53.4M | -$11.5M | -$50.5M | -$46.8M | -$187.0M | -$171.8M | -$181.5M | -$136.9M | -$219.1M | -$165.8M |
Cash Flow (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Operating Cash Flow | -$30.8M | -$36.4M | -$23.1M | -$29.6M |
| Capital Expenditure | -$433000 | -$60000 | -$92000 | -$106000 |
| Free Cash Flow | -$31.3M | -$36.4M | -$23.2M | -$29.7M |
| Dividends Paid | 0 | 0 | 0 | 0 |
| Stock-based Compensation | $2.2M | $2.1M | $2.1M | $2.2M |
Growth & Margins (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue Growth (YoY) | +126.8% | +132.6% | -35.7% | +341.9% | -71.8% | -22.8% | +296.3% | -58.6% | +25.4% | |
| Net Income Growth (YoY) | -23.8% | +8.6% | -21.6% | +13.3% | -66.0% | -14.5% | +30.5% | -54.7% | +32.5% | |
| EPS Growth (YoY) | +1.3% | +21.8% | -6.0% | +19.8% | -43.9% | -12.6% | +37.1% | -42.6% | +37.5% | |
| Shares Change (YoY) | +25.2% | +16.8% | +6.1% | +17.3% | +15.4% | +1.5% | +10.6% | +8.4% | +7.8% | |
| FCF Growth (YoY) | +78.5% | -339.7% | +7.2% | -299.3% | +8.1% | -5.6% | +24.6% | -60.1% | +24.3% | |
| Gross Margin | -841.3% | -505.8% | -183.9% | -372.0% | -74.1% | 80.2% | 67.9% | 92.2% | -516.6% | 100.0% |
| Operating Margin | -1605.6% | -873.6% | -356.1% | -686.4% | -148.6% | -756.1% | -1146.3% | -216.6% | -777.2% | -245.2% |
| EBITDA Margin | -1587.1% | -849.8% | -345.9% | -672.6% | -144.3% | -733.8% | -1086.1% | -188.4% | -721.4% | -366.8% |
| Net Margin | -1605.5% | -876.5% | -344.3% | -651.4% | -127.8% | -753.6% | -1118.3% | -196.1% | -733.7% | -395.0% |
| FCF Margin | -882.5% | -83.6% | -158.0% | -228.1% | -206.1% | -672.5% | -920.6% | -175.2% | -678.1% | -409.3% |
| Effective Tax Rate | -0.0% | 0.9% | -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 | $-1.66 | $-0.28 | $-1.07 | $-0.94 | $-3.19 | $-2.54 | $-2.64 | $-1.80 | $-2.66 | $-1.87 |
| 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) | $32.2M | $40.3M | $47.1M | $50.0M | $58.6M | $67.6M | $68.7M | $76.0M | $82.3M | $88.7M |
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 | -196.63% |
| Return on Invested Capital | -46.81% |
| Return on Assets | -31.15% |
| Gross Margin | 56.90% |
| Operating Margin | -174.71% |
| Net Margin | -157.32% |
Financial Health
| Debt / Equity | 0.15 |
| Current Ratio | 3.19 |
Key Ratios (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | -5.37 | -10.31 | -9.76 | -11.99 | -35.41 | -9.32 | -2.76 | -5.01 | -0.44 | -1.14 |
| P/B | 3.88 | 5.96 | 4.54 | 5.64 | 10.44 | 3.24 | 1.69 | 2.20 | 0.78 | 6.67 |
| P/S | 86.39 | 90.26 | 33.55 | 72.09 | 45.29 | 70.28 | 30.90 | 9.85 | 3.24 | 4.49 |
| Gross Margin | -841.3% | -505.8% | -183.9% | -372.0% | -74.1% | 80.2% | 67.9% | 92.2% | -516.6% | 100.0% |
| Operating Margin | -1605.6% | -873.6% | -356.1% | -686.4% | -148.6% | -756.1% | -1146.3% | -216.6% | -777.2% | -245.2% |
| Net Margin | -1605.5% | -876.5% | -344.3% | -651.4% | -127.8% | -753.6% | -1118.3% | -196.1% | -733.7% | -395.0% |
Related companies: ALLO · AVIR · CABA · CAPR · IMMP · KYTX · LYEL
Explore sector: Healthcare · Biotechnology
More sections of EDIT: Overview · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
Discover more: Radar — undervalued stock signals · Investment Academy — learn to analyze stocks