Detailed financial statements for Silo Pharma, Inc. (SILO): 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.
Silo Pharma Inc. operates as a developmental-stage biopharmaceutical firm dedicated to creating treatments for a variety of underserviced medical conditions. These include stress-related psychiatric disorders, persistent pain syndromes, and diseases impacting the central nervous system (CNS). The company's approach combines both traditional and psychedelic therapies, with a strong emphasis on innovative formulations and advanced drug delivery systems.
Analysis Summary
Trailing-twelve-month margins: gross margin -474.3%, operating margin -82.5%, net margin -82.7%.
At the current price of $1.76, SILO has negative trailing earnings (P/E not meaningful) and an ROE of -81.74%. Market capitalisation stands at $2M.
Balance sheet quality for SILO: current ratio of 11.4. 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 | -$669480 | $847407 | 0 | $40569 | 0 | $71264 | $72102 | $72102 | $72102 | $72102 |
| Cost of Revenue | 0 | 0 | $17550 | $27387 | 0 | $5004 | $5838 | $5838 | $5838 | $886057 |
| Gross Profit | -$669480 | $847407 | -$17550 | $13182 | 0 | $66260 | $66264 | $66264 | $66264 | -$813955 |
| Research & Development | 0 | 0 | 0 | $63465 | $26250 | $693910 | $1.3M | $845092 | $2.4M | $2.2M |
| Selling, General & Admin | $300994 | $313371 | $459830 | $864180 | $2.2M | $2.3M | $2.4M | $3.1M | $2.4M | $2.1M |
| Operating Expenses | $443494 | $490871 | $459830 | $943585 | $2.2M | $2.8M | $3.7M | $3.9M | $4.8M | $3.5M |
| Operating Income | -$393658 | -$470388 | -$594242 | -$930403 | -$2.2M | -$2.7M | -$3.6M | -$3.9M | -$4.7M | -$4.3M |
| EBITDA | 0 | $356536 | -$951914 | -$950366 | -$2.4M | $4.2M | -$3.9M | -$3.6M | -$4.4M | -$4.2M |
| Interest Expense | 0 | 0 | 0 | $62928 | $269267 | $3036 | $2199 | $4869 | $5084 | $37302 |
| Pre-tax Income | -$1.1M | $356536 | -$969463 | -$1.0M | -$2.7M | $4.2M | -$3.9M | -$3.6M | -$4.4M | -$4.2M |
| Income Tax | 0 | 0 | 0 | 0 | 0 | $24876 | 0 | 0 | 0 | 0 |
| Net Income | -$1.1M | $356536 | -$969463 | -$1.0M | -$3.0M | $3.9M | -$3.9M | -$3.7M | -$4.4M | -$4.2M |
| EPS | $-16.65 | $7.50 | $-14.85 | $-18.60 | $-35.25 | $19.80 | $-25.65 | $-18.00 | $-17.85 | $-7.50 |
| EPS (Diluted) | $-16.65 | $7.50 | $-14.85 | $-18.60 | $-35.25 | $19.50 | $-25.65 | $-18.00 | $-17.85 | $-7.50 |
| Shares Outstanding (Diluted) | $66928 | $69443 | $65469 | $56153 | $87940 | $127896 | $152283 | $205325 | $245359 | $558818 |
Income Statement (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Revenue | $18025 | $18026 | $18026 | 0 |
| Gross Profit | -$2662 | -$2663 | -$248232 | -$2938 |
| Operating Income | -$1.2M | -$786524 | -$1.6M | -$928949 |
| EBITDA | -$1.1M | -$845891 | -$1.6M | -$988779 |
| Net Income | -$1.1M | -$881530 | -$1.6M | -$832829 |
| EPS | $-1.80 | $-0.99 | $-1.80 | $-0.76 |
| EPS (Diluted) | $-1.80 | $-0.99 | $-1.80 | $-0.76 |
Balance Sheet (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Cash & Equivalents | $579209 | $294591 | $336679 | $111752 | $1.1M | $9.8M | $11.4M | $3.5M | $3.9M | $4.7M |
| Short-term Investments | 0 | 0 | $228294 | $9394 | $200 | $419995 | $3118 | $4.1M | $3.2M | $2.1M |
| Receivables | $58549 | 0 | 0 | $200000 | $23500 | 0 | $66010 | 0 | 0 | 0 |
| Inventory | 0 | 0 | $26973 | $156366 | $33484 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | $664731 | $1.6M | $625977 | $493845 | $1.4M | $10.4M | $11.6M | $7.7M | $7.1M | $7.4M |
| Property, Plant & Equipment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | $29440 | 0 | 0 | 0 | 0 | 0 | $241215 | $217375 |
| Total Assets | $1.3M | $1.6M | $855417 | $493845 | $1.4M | $10.5M | $11.6M | $7.7M | $7.4M | $7.6M |
| Accounts Payable | $53098 | $38343 | $25631 | $54862 | $127069 | $417937 | $364216 | $703488 | $1.6M | $578081 |
| Short-term Debt | 0 | 0 | $22344 | $61875 | $14654 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | $53098 | $38343 | $47975 | $116737 | $141723 | $490039 | $436318 | $775590 | $1.7M | $650183 |
| Long-term Debt | 0 | 0 | 0 | 0 | $4246 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | $453098 | $438343 | $447975 | $516737 | $145969 | $1.4M | $1.3M | $1.6M | $2.4M | $1.3M |
| Retained Earnings | -$400000 | -$470388 | -$1.6M | -$2.7M | -$5.8M | -$3.3M | -$7.2M | -$10.9M | -$15.3M | -$19.5M |
| Total Equity | $846506 | $1.2M | $407442 | -$22892 | $1.3M | $9.1M | $10.3M | $6.2M | $5.0M | $6.3M |
| Total Debt | 0 | 0 | $22344 | $61875 | $18900 | 0 | 0 | 0 | 0 | 0 |
| Net Debt | -$579209 | -$294591 | -$542629 | -$59271 | -$1.1M | -$10.3M | -$11.4M | -$7.7M | -$7.1M | -$6.9M |
| Working Capital | $611633 | $1.6M | $578002 | $377108 | $1.3M | $9.9M | $11.1M | $6.9M | $5.5M | $6.7M |
Balance Sheet (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Cash & Equivalents | $3.9M | $4.7M | $3.9M | $3.3M |
| Total Assets | $6.4M | $7.6M | $7.0M | $6.0M |
| Total Liabilities | $1.4M | $1.3M | $1.3M | $1.1M |
| Total Equity | $5.0M | $6.3M | $5.7M | $4.9M |
| Total Debt | 0 | 0 | 0 | 0 |
Cash Flow (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Net Income | -$1.1M | $356536 | -$969463 | -$1.0M | -$3.0M | $4.2M | -$3.9M | -$3.7M | -$4.4M | -$4.2M |
| Depreciation & Amortization | 0 | 0 | $17550 | 0 | 0 | 0 | 0 | 0 | $6185 | $11440 |
| Stock-based Compensation | 0 | 0 | 0 | $177960 | $1.2M | 0 | $156047 | $14125 | 0 | $117021 |
| Change in Working Capital | -$89378 | -$34708 | -$16797 | -$82464 | -$72138 | $704751 | -$75288 | $299275 | $551756 | -$1.2M |
| Operating Cash Flow | -$143555 | -$284618 | $272637 | -$794324 | -$1.2M | -$2.3M | -$3.5M | -$3.2M | -$3.8M | -$4.7M |
| Capital Expenditure | 0 | 0 | 0 | 0 | 0 | -$4 | 0 | 0 | 0 | 0 |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Repurchased | 0 | 0 | -$2872 | 0 | 0 | 0 | 0 | -$471121 | -$173113 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | -$143555 | -$284618 | $272637 | -$794324 | -$1.2M | -$2.3M | -$3.5M | -$3.2M | -$3.8M | -$4.7M |
Cash Flow (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Operating Cash Flow | -$955493 | -$780278 | -$822623 | -$781861 |
| Capital Expenditure | $3 | 0 | $3 | 0 |
| Free Cash Flow | -$955490 | -$780278 | -$822620 | -$781861 |
| Dividends Paid | 0 | 0 | 0 | 0 |
| Stock-based Compensation | $47267 | $52309 | 0 | $39174 |
Growth & Margins (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Revenue Growth (YoY) | | +226.6% | -100.0% | | -100.0% | | +1.2% | +0.0% | +0.0% | +0.0% |
| Net Income Growth (YoY) | | +132.0% | -371.9% | -4.5% | -199.8% | +228.5% | -200.1% | +5.3% | -18.7% | +3.8% |
| EPS Growth (YoY) | | +145.0% | -298.0% | -25.3% | -89.5% | +156.2% | -229.5% | +29.8% | +0.8% | +58.0% |
| Shares Change (YoY) | | +3.8% | -5.7% | -14.2% | +56.6% | +45.4% | +19.1% | +34.8% | +19.5% | +127.8% |
| FCF Growth (YoY) | | -98.3% | +195.8% | -391.3% | -45.7% | -96.9% | -53.5% | +7.8% | -18.9% | -21.6% |
| Gross Margin | 100.0% | 100.0% | | 32.5% | | 93.0% | 91.9% | 91.9% | 91.9% | -1128.9% |
| Operating Margin | 58.8% | -55.5% | | -2293.4% | | -3851.0% | -5031.3% | -5347.4% | -6526.4% | -5937.0% |
| EBITDA Margin | -0.0% | 42.1% | | -2342.6% | | 5872.6% | -5416.2% | -5029.3% | -6077.0% | -5795.9% |
| Net Margin | 166.2% | 42.1% | | -2497.7% | | 5477.9% | -5420.9% | -5132.6% | -6092.6% | -5863.5% |
| FCF Margin | 21.4% | -33.6% | | -1958.0% | | -3196.6% | -4850.9% | -4472.1% | -5317.3% | -6464.9% |
| Effective Tax Rate | -0.0% | 0.0% | -0.0% | -0.0% | -0.0% | 0.6% | -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 | $-2.14 | $-4.10 | $4.16 | $-14.15 | $-13.16 | $-17.81 | $-22.97 | $-15.70 | $-15.63 | $-8.34 |
| 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) | $66928 | $66777 | $65469 | $56153 | $87940 | $126488 | $152283 | $205325 | $245359 | $558818 |
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 | -81.74% |
| Return on Invested Capital | -91.31% |
| Return on Assets | -75.13% |
| Gross Margin | -474.31% |
| Operating Margin | -8250.46% |
| Net Margin | -8269.53% |
Financial Health
| Debt / Equity | 0.00 |
| Current Ratio | 5.36 |
| Piotroski F-Score | 2 |
| Altman Z-Score | -3.06 |
Key Ratios (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -15.77 | 35.00 | -17.68 | -14.11 | -7.45 | 5.42 | -1.96 | -1.20 | -0.75 | -0.68 |
| P/B | 20.75 | 14.57 | 42.18 | -643.90 | 18.02 | 1.50 | 0.74 | 0.72 | 0.65 | 0.45 |
| P/S | -26.24 | 20.69 | 0.00 | 363.34 | 0.00 | 190.36 | 106.45 | 61.51 | 45.43 | 39.53 |
| Gross Margin | 100.0% | 100.0% | 0.0% | 32.5% | 0.0% | 93.0% | 91.9% | 91.9% | 91.9% | -1128.9% |
| Operating Margin | 58.8% | -55.5% | 0.0% | -2293.4% | 0.0% | -3851.0% | -5031.3% | -5347.4% | -6526.4% | -5937.0% |
| Net Margin | 166.2% | 42.1% | 0.0% | -2497.7% | 0.0% | 5477.9% | -5420.9% | -5132.6% | -6092.6% | -5863.5% |