AtaiBeckley Inc
ATAIHealthcare|Biotechnology|USA
$5.17
-0.16 (-3.00%)
Tangible Book
$0.54
Financials
Financial Snapshot
Market Cap
$1.90B
Enterprise Value
$228.7M
Revenue (TTM)
$3.5M
Net Income (TTM)
$-663.4M
Cash & Equivalents
—
Net Cash/Share
$0.45
Free Cash Flow (TTM)
$-111.5M
Operating CF (TTM)
$-105.9M
Debt/Equity
0.01
Cash Runway & Burn Rate
Cash on Hand
$0.00
Quarterly Burn
$26.5M
Monthly Burn
$8.8M
Est. Runway
—
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $30.1M | $97.2M | $362.3M | $273.1M | $179.3M | $62.3M | $256.0M | $230.8M | |
| Operating Cash Flow | $-7.8M | $-20.8M | $-63.2M | $-104.5M | $-84.1M | $-82.4M | $-102.7M | $-105.9M | |
| Free Cash Flow | $-7.9M | $-20.8M | $-64.4M | $-105.5M | $-84.7M | $-82.5M | $-113.5M | $-111.5M | |
| Capital Expenditure | $-19.0K | $-59.0K | $-1.1M | $-1.0M | $-590.0K | $-95.0K | $-10.9M | $-5.6M | |
| Financing Cash Flow | $40.4M | $113.1M | $409.9M | $20.8M | $-8.4M | $5.4M | $269.5M | $210.7M |
R&D Spending
R&D (TTM)
$59.1M
R&D Intensity
1695.8%
R&D Growth YoY
+11.5%
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $20.4M | $233.0K | $314.0K | $308.0K | $4.1M | $3.5M | |
| R&D Expense | $3.1M | $11.4M | $48.0M | $74.3M | $62.2M | $55.5M | $53.1M | $59.1M | |
| R&D % of Revenue | — | — | 235.4% | 31894.0% | 19809.9% | 18004.9% | 1297.7% | 1695.8% | |
| SG&A | $5.1M | $80.7M | $92.7M | $70.3M | $63.6M | $47.5M | $65.1M | $68.9M |
Income Statement
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $20.4M | $233.0K | $314.0K | $308.0K | $4.1M | $3.5M | |
| Cost of Goods Sold | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Gross Profit | $0.00 | $0.00 | $20.4M | $233.0K | $314.0K | $308.0K | $4.1M | $3.5M | |
| R&D | $3.1M | $11.4M | $48.0M | $74.3M | $62.2M | $55.5M | $53.1M | $59.1M | |
| SG&A | $5.1M | $80.7M | $92.7M | $70.3M | $63.6M | $47.5M | $65.1M | $68.9M | |
| Operating Income | $-8.2M | $-92.1M | $-120.3M | $-144.4M | $-123.0M | $-102.2M | $-113.3M | $-123.2M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | $-923.0K | $-2.7M | $-3.1M | $-1.2M | $-262.0K | |
| Pretax Income | $-17.5M | $-101.8M | $-136.6M | $-135.2M | $-39.3M | $-148.4M | $-659.8M | $-663.3M | |
| Net Income | $-14.1M | $-169.8M | $-167.8M | $-152.4M | $-40.2M | $-149.3M | $-660.0M | $-663.4M | |
| EPS (Diluted) | -0.09 | -1.11 | -1.21 | -0.98 | -0.25 | -0.93 | -2.91 | -2.23 | |
| EBITDA | $-8.2M | $-92.1M | $-120.3M | $-134.1M | $-36.3M | $-144.8M | $-657.7M | $-662.1M | |
| Shares Out. (M) | 152.57 | 152.57 | 138.27 | 155.72 | 158.83 | 160.16 | 226.53 | 357.42 |
Balance Sheet
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $30.1M | $97.2M | $362.3M | $190.6M | $45.0M | $17.5M | $85.3M | $43.1M | |
| Marketable Securities | $0.00 | $0.00 | $0.00 | $82.5M | $134.2M | $44.8M | $170.7M | $187.7M | |
| Total Current Assets | $39.1M | $99.5M | $375.1M | $287.1M | $185.6M | $80.1M | $275.7M | $250.1M | |
| Total Assets | $62.1M | $111.5M | $414.2M | $305.4M | $293.5M | $159.4M | $292.7M | $264.9M | |
| Total Current Liabilities | $1.6M | $12.3M | $20.9M | $19.9M | $20.1M | $25.0M | $23.5M | $25.0M | |
| Long-Term Debt | $157.0K | $2.2M | $743.0K | $15.1M | $17.9M | $14.1M | $0.00 | $0.00 | |
| Total Liabilities | $2.5M | $16.2M | $28.2M | $39.7M | $49.2M | $42.8M | $70.7M | $66.1M | |
| Stockholders' Equity | $58.8M | $90.8M | $376.9M | $260.7M | $243.0M | $116.3M | $221.9M | $198.7M | |
| Retained Earnings | $-20.2M | $-190.0M | $-357.8M | $-510.2M | $-550.9M | $-700.2M | $-1.36B | $-1.39B |
Cash Flow Statement
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $-7.8M | $-20.8M | $-63.2M | $-104.5M | $-84.1M | $-82.4M | $-102.7M | $-105.9M | |
| Capital Expenditure | $-19.0K | $-59.0K | $-1.1M | $-1.0M | $-590.0K | $-95.0K | $-10.9M | $-5.6M | |
| Free Cash Flow | $-7.9M | $-20.8M | $-64.4M | $-105.5M | $-84.7M | $-82.5M | $-113.5M | $-111.5M | |
| Investing Cash Flow | $-9.0M | $-28.3M | $-81.3M | $-86.8M | $-53.3M | $59.2M | $-109.1M | $-119.8M | |
| Financing Cash Flow | $40.4M | $113.1M | $409.9M | $20.8M | $-8.4M | $5.4M | $269.5M | $210.7M | |
| Issuance of Stock | $42.7M | $82.4M | $409.9M | $0.00 | $0.00 | $0.00 | $258.1M | $198.4M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $-6.6M | $-6.6M | |
| Issuance of Debt | $0.00 | $32.5M | $1.6M | $15.0M | $0.00 | $5.0M | $0.00 | $21.8M | |
| Payments of Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $57.0K | $67.2M | $63.4M | $42.4M | $33.0M | $25.5M | $14.2M | $16.3M | |
| Net Change in Cash | $23.1M | $67.2M | $265.0M | $-171.7M | $-145.6M | $-17.5M | $57.8M | $-15.2M |
Dilution Tracker
Shares outstanding grew 158.5% over 5 years — significant dilution
Shares Outstanding
357M
5-Year Share Growth
+158.5%
Stock Issuance (TTM)
$198.4M
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 152.57 | 152.57 | 138.27 | 155.72 | 158.83 | 160.16 | 226.53 | 357.42 | |
| YoY Change % | — | 0.0% | -9.4% | 12.6% | 2.0% | 0.8% | 41.4% | 57.8% | |
| Stock Issuance | $42.7M | $82.4M | $409.9M | $0.00 | $0.00 | $0.00 | $258.1M | $198.4M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $-6.6M | $-6.6M | |
| Stock Based Comp. | $57.0K | $67.2M | $63.4M | $42.4M | $33.0M | $25.5M | $14.2M | $16.3M |
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 % | 0.0% | 0.0% | -590.5% | -61987.1% | -39180.3% | -33170.8% | -2772.0% | -3531.1% | |
| Net Margin % | 0.0% | 0.0% | -823.6% | -65401.3% | -12810.2% | -48464.0% | -16142.0% | -19019.4% | |
| EBITDA Margin % | 0.0% | 0.0% | -590.3% | -57549.8% | -11564.0% | -47015.6% | -16084.0% | -18982.1% | |
| FCF Margin % | 0.0% | 0.0% | -315.9% | -45275.1% | -26977.1% | -26796.1% | -2776.8% | -3197.4% | |
| ROE % | -24.1% | -227.1% | -71.8% | -47.8% | -16.0% | -83.1% | -390.4% | -378.6% | |
| ROA % | -22.8% | -195.6% | -63.8% | -42.4% | -13.4% | -65.9% | -292.0% | -280.5% | |
| R&D / Revenue | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)At Loss
HistoricalAt Loss / At Loss / At Loss
Industry Med.27.51
P/S397.69
Historical36.59 / 740.00 / 2450.00
Industry Med.9.49
P/B9.52
Historical0.66 / 1.99 / 26.50
Industry Med.2.93
EV/EBITDA-2.53
Historical-34.31 / -2.10 / 0.44
Industry Med.13.02
EV/Revenue480.15
Historical-254.67 / 320.10 / 1099.48
Industry Med.8.59
P/FCF—
Historical— / — / —
Industry Med.27.13
Intrinsic Value Models
Tangible Book
$0.54
Net Current Assets
$0.500
Net-Net Working Capital
$0.45
| 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 | - | - | 51.90 | 2660.00 | 705.00 | 665.00 | 227.22 | 397.69 | |
| PB Ratio | 0.00 | 0.00 | 3.25 | 1.69 | 0.96 | 1.92 | 6.69 | 9.52 | |
| EV/EBITDA | 0.00 | 0.00 | -7.26 | -1.41 | -2.07 | -1.28 | -1.87 | -2.53 | |
| EV/Revenue | 0.00 | 0.00 | 42.87 | 809.65 | 239.92 | 603.96 | 301.29 | 480.15 |
Analyst Estimates & Quality
Altman Z-Score
2.70
Grey Zone
Piotroski F-Score
4
Moderate
Beneish M-Score
1.72
Possible Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $1.16M | $0.37M | $1.36M |
| Net Income | $-142.15M | $-166.63M | $-171.86M |
| EPS | -0.42 | -0.43 | -0.41 |
| Book Value per Share | 0.45 | 0.48 | 0.35 |
| Operating Cash Flow per Share | -0.28 | -0.31 | -0.26 |
| Operating CF | $-100.08M | $-110.80M | $-91.14M |
Dividends
Revenue Segments
By Business
| Segment | 2025 |
|---|---|
| Global discovery, research, development, and commercialization of highly effective mental health | $4.1M |
By Geography
| Segment | 2025 |
|---|---|
| United States | $4.1M |