Absci Corp
ABSIHealthcare|Biotechnology|USA
$10.60
-0.87 (-7.59%)
Tangible Book
$0.85
Financials
Financial Snapshot
Market Cap
$1.79B
Enterprise Value
$121.3M
Revenue (TTM)
$1.8M
Net Income (TTM)
$-118.4M
Cash & Equivalents
—
Net Cash/Share
$0.66
Free Cash Flow (TTM)
$-98.5M
Operating CF (TTM)
$-97.4M
Debt/Equity
0.03
Cash Runway & Burn Rate
Cash on Hand
$0.00
Quarterly Burn
$24.3M
Monthly Burn
$8.1M
Est. Runway
—
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $13.1M | $69.9M | $252.6M | $164.4M | $97.7M | $112.4M | $144.3M | $125.7M | |
| Operating Cash Flow | $-6.0M | $-11.0M | $-60.6M | $-81.3M | $-64.6M | $-72.4M | $-92.9M | $-97.4M | |
| Free Cash Flow | $-7.1M | $-13.2M | $-98.6M | $-97.5M | $-65.5M | $-72.8M | $-94.0M | $-98.5M | |
| Capital Expenditure | $-1.1M | $-2.2M | $-38.0M | $-16.2M | $-860.0K | $-404.0K | $-1.1M | $-1.1M | |
| Financing Cash Flow | $12.7M | $71.0M | $336.2M | $5.2M | $-4.5M | $82.5M | $105.9M | $70.7M |
R&D Spending
R&D (TTM)
$84.3M
R&D Intensity
4593.1%
R&D Growth YoY
+3.6%
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.1M | $4.8M | $4.8M | $5.7M | $5.7M | $4.5M | $2.8M | $1.8M | |
| R&D Expense | $4.3M | $11.4M | $44.6M | $58.9M | $48.1M | $63.9M | $81.4M | $84.3M | |
| R&D % of Revenue | 209.3% | 239.5% | 932.4% | 1025.0% | 840.6% | 1408.4% | 2907.8% | 4593.1% | |
| SG&A | $3.5M | $5.5M | $28.8M | $40.6M | $37.8M | $36.2M | $35.1M | $34.6M |
Income Statement
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.1M | $4.8M | $4.8M | $5.7M | $5.7M | $4.5M | $2.8M | $1.8M | |
| Cost of Goods Sold | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Gross Profit | $2.1M | $4.8M | $4.8M | $5.7M | $5.7M | $4.5M | $2.8M | $1.8M | |
| R&D | $4.3M | $11.4M | $44.6M | $58.9M | $48.1M | $63.9M | $81.4M | $84.3M | |
| SG&A | $3.5M | $5.5M | $28.8M | $40.6M | $37.8M | $36.2M | $35.1M | $34.6M | |
| Operating Income | $-6.3M | $-13.3M | $-75.2M | $-106.8M | $-94.2M | $-108.9M | $-125.4M | $-128.5M | |
| Interest Expense | $-268.0K | $-634.0K | $-3.4M | $-972.0K | $-1.0M | $-565.0K | $-209.0K | $-148.0K | |
| Pretax Income | $-6.6M | $-14.4M | $-109.9M | $-105.4M | $-110.5M | $-103.0M | $-115.1M | $-118.3M | |
| Net Income | $-6.6M | $-14.4M | $-101.0M | $-104.9M | $-110.6M | $-103.1M | $-115.2M | $-118.4M | |
| EPS (Diluted) | -0.26 | -0.55 | -2.08 | -1.15 | -1.20 | -0.94 | -0.84 | -0.83 | |
| EBITDA | $-5.8M | $-12.6M | $-99.8M | $-91.3M | $-95.5M | $-89.1M | $-103.2M | $-106.8M | |
| Shares Out. (M) | 90.38 | 90.38 | 49.69 | 90.85 | 92.03 | 110.24 | 136.78 | 152.96 |
Balance Sheet
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $13.1M | $69.9M | $252.6M | $60.0M | $72.4M | $41.2M | $20.0M | $8.6M | |
| Marketable Securities | $0.00 | $0.00 | $0.00 | $104.5M | $25.3M | $71.2M | $124.3M | $117.1M | |
| Total Current Assets | $13.6M | $73.2M | $273.1M | $186.9M | $120.6M | $133.8M | $149.6M | $132.0M | |
| Total Assets | $19.5M | $88.6M | $426.2M | $321.0M | $217.3M | $213.6M | $216.3M | $195.6M | |
| Total Current Liabilities | $3.5M | $10.1M | $33.9M | $30.3M | $29.6M | $28.7M | $22.8M | $20.0M | |
| Long-Term Debt | $1.7M | $4.1M | $1.1M | $8.0M | $4.7M | $1.3M | $0.00 | $0.00 | |
| Total Liabilities | $60.6M | $178.0M | $60.1M | $46.6M | $41.1M | $34.5M | $26.8M | $23.6M | |
| Stockholders' Equity | $-41.2M | $-89.4M | $366.1M | $274.4M | $176.2M | $179.1M | $189.4M | $172.0M | |
| Retained Earnings | $-41.4M | $-90.1M | $-191.0M | $-295.9M | $-406.5M | $-509.6M | $-624.8M | $-654.4M |
Cash Flow Statement
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $-6.0M | $-11.0M | $-60.6M | $-81.3M | $-64.6M | $-72.4M | $-92.9M | $-97.4M | |
| Capital Expenditure | $-1.1M | $-2.2M | $-38.0M | $-16.2M | $-860.0K | $-404.0K | $-1.1M | $-1.1M | |
| Free Cash Flow | $-7.1M | $-13.2M | $-98.6M | $-97.5M | $-65.5M | $-72.8M | $-94.0M | $-98.5M | |
| Investing Cash Flow | $-1.1M | $-2.2M | $-67.4M | $-127.0M | $81.9M | $-41.6M | $-50.2M | $-27.8M | |
| Financing Cash Flow | $12.7M | $71.0M | $336.2M | $5.2M | $-4.5M | $82.5M | $105.9M | $70.7M | |
| Issuance of Stock | $0.00 | $0.00 | $210.4M | $656.0K | $862.0K | $82.4M | $105.8M | $72.1M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Issuance of Debt | $2.8M | $3.2M | $125.0M | $12.0M | $0.00 | $0.00 | $0.00 | $0.00 | |
| Payments of Debt | $-377.0K | $-1.6M | $-4.1M | $-7.5M | $-5.3M | $-4.0M | $-3.2M | $-2.8M | |
| Stock Based Comp. | $42.0K | $420.0K | $10.6M | $12.5M | $11.4M | $19.5M | $18.3M | $17.8M | |
| Net Change in Cash | $5.6M | $57.8M | $208.2M | $-203.1M | $12.8M | $-31.5M | $-37.1M | $-54.4M |
Dilution Tracker
Shares outstanding grew 207.9% over 5 years — significant dilution
Shares Outstanding
153M
5-Year Share Growth
+207.9%
Stock Issuance (TTM)
$72.1M
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 90.38 | 90.38 | 49.69 | 90.85 | 92.03 | 110.24 | 136.78 | 152.96 | |
| YoY Change % | — | 0.0% | -45.0% | 82.8% | 1.3% | 19.8% | 24.1% | 11.8% | |
| Stock Issuance | $0.00 | $0.00 | $210.4M | $656.0K | $862.0K | $82.4M | $105.8M | $72.1M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $42.0K | $420.0K | $10.6M | $12.5M | $11.4M | $19.5M | $18.3M | $17.8M |
Margins & Profitability
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Margin % | -304.1% | -278.3% | -1573.4% | -1857.5% | -1647.1% | -2401.6% | -4479.2% | -7000.8% | |
| Net Margin % | -319.6% | -300.3% | -2111.3% | -1825.4% | -1933.6% | -2274.1% | -4113.7% | -6450.8% | |
| EBITDA Margin % | -282.8% | -263.3% | -2086.4% | -1588.5% | -1669.4% | -1964.8% | -3684.4% | -5816.9% | |
| FCF Margin % | -346.1% | -275.1% | -2062.8% | -1696.8% | -1145.4% | -1605.8% | -3358.3% | -5365.2% | |
| ROE % | 0.0% | 0.0% | -73.0% | -32.8% | -49.1% | -58.0% | -62.5% | -62.7% | |
| ROA % | -33.8% | -26.6% | -39.2% | -28.1% | -41.1% | -47.9% | -53.6% | -53.9% | |
| R&D / Revenue | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)At Loss
HistoricalAt Loss / At Loss / At Loss
Industry Med.27.51
P/S815.00
Historical14.04 / 78.39 / 893.85
Industry Med.9.49
P/B9.57
Historical0.46 / 1.94 / 10.50
Industry Med.2.93
EV/EBITDA-15.67
Historical-45.43 / -2.73 / 0.10
Industry Med.13.02
EV/Revenue911.50
Historical-1.40 / 57.50 / 911.50
Industry Med.8.59
P/FCF—
Historical— / — / —
Industry Med.27.13
Intrinsic Value Models
Tangible Book
$0.85
Net Current Assets
$0.700
Net-Net Working Capital
$0.66
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| PE Ratio | N/A | N/A | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | |
| PS Ratio | 0.00 | 0.00 | 85.42 | 33.33 | 67.74 | 63.90 | 174.50 | 815.00 | |
| PB Ratio | 0.00 | 0.00 | 2.07 | 0.71 | 2.22 | 1.69 | 2.79 | 9.57 | |
| EV/EBITDA | 0.00 | 0.00 | -5.28 | -0.58 | -3.24 | -2.24 | -3.78 | -15.67 | |
| EV/Revenue | 0.00 | 0.00 | 110.24 | 9.16 | 54.07 | 44.08 | 139.21 | 911.50 |
Analyst Estimates & Quality
Altman Z-Score
39.61
Safe
Piotroski F-Score
3
Weak
Beneish M-Score
-4.87
Unlikely Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $7.19M | $22.22M | $49.09M |
| Net Income | $-123.28M | $-112.35M | $-153.22M |
| EPS | -0.81 | -0.66 | -0.73 |
| Book Value per Share | 1.31 | 1.38 | 1.43 |
| Operating Cash Flow per Share | -0.68 | -0.60 | 0.00 |
| Operating CF | $-104.01M | $-91.78M | $0.00M |
Dividends
Revenue Segments
By Business
| Segment | 2025 |
|---|---|
| Single Segment | $2.8M |
By Geography
| Segment | 2025 |
|---|---|
| United States | $2.8M |