Edesa Biotech, Inc.
EDSAHealthcare|Biotechnology|CA
$2.14
+0.01 (+0.47%)
DCF Value
$2.00
Tangible Book / Share
$0.77
Cash / Share
$1.15
Financials
Financial Snapshot
Market Cap
$20.6M
Enterprise Value
$10.3M
Revenue (TTM)
$0.00
Net Income (TTM)
-$14.1M
Cash & Investments
$10.3M
Net Cash
$10.3M
Free Cash Flow (TTM)
-$9.0M
Operating CF (TTM)
-$9.0M
Debt/Equity
0.00
Cash Runway & Burn Rate
Cash on Hand
$10.3M
Quarterly Burn
$2.2M
Monthly Burn
$746.0K
Est. Runway
~4.6 quarters
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $11.4M | $6.6M | $10.3M | $5.0M | $7.2M | $7.8M | $7.1M | $5.4M | $1.0M | $10.8M | $10.3M | |
| Operating Cash Flow | -$4.5M | -$4.7M | -$4.6M | -$4.8M | -$5.0M | -$13.7M | -$12.3M | -$6.6M | -$4.9M | -$7.3M | -$9.0M | |
| Free Cash Flow | -$4.9M | -$5.0M | -$5.0M | -$4.9M | -$5.0M | -$13.7M | -$12.3M | -$6.6M | -$4.9M | -$7.3M | -$9.0M | |
| Capital Expenditure | -$402.3K | -$302.7K | -$382.8K | -$8.1K | -$34.3K | -$6.1K | -$5.7K | $3.00 | $0.00 | $0.00 | $3.00 | |
| Financing Cash Flow | $7.3M | $5.9K | $8.8M | $0.00 | $7.1M | $14.2M | $11.6M | $4.8M | $592.0K | $17.0M | $7.0M |
R&D Spending
R&D (TTM)
$9.1M
R&D Intensity
—
R&D Growth vs Prior
+147.4%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.3M | $228.3K | $211.8K | $410.9K | $328.8K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $1.7M | $2.0M | $2.1M | $1.1M | $3.3M | $17.9M | $13.3M | $4.8M | $2.9M | $3.7M | $9.1M | |
| R&D % of Revenue | 136.0% | 864.4% | 985.3% | 266.9% | 1012.6% | — | — | — | — | — | — | |
| SG&A | $3.3M | $2.9M | $2.8M | $2.0M | $3.4M | $5.7M | $5.0M | $4.4M | $4.1M | $4.2M | $5.6M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.3M | $228.3K | $211.8K | $410.9K | $328.8K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Revenue | $1.1M | $534.5K | $445.3K | $101.3K | $17.6K | $118.8K | $0.00 | $0.00 | $0.00 | $119.3K | $102.8K | |
| Gross Profit | $143.9K | -$306.2K | -$233.5K | $309.6K | $311.2K | -$118.8K | $0.00 | $0.00 | $0.00 | -$119.3K | -$102.8K | |
| R&D | $1.7M | $2.0M | $2.1M | $1.1M | $3.3M | $17.9M | $13.3M | $4.8M | $2.9M | $3.7M | $9.1M | |
| SG&A | $3.3M | $2.9M | $2.8M | $2.0M | $3.4M | $5.7M | $5.0M | $4.4M | $4.1M | $4.2M | $5.6M | |
| Operating Income | -$4.9M | -$5.2M | -$5.1M | -$2.8M | -$6.4M | -$23.7M | -$18.4M | -$9.2M | -$7.0M | -$7.9M | -$14.6M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | -$5.0M | -$5.0M | -$5.0M | -$2.8M | -$6.4M | -$13.3M | -$17.5M | -$8.4M | -$6.2M | -$7.2M | -$14.1M | |
| Net Income | -$5.0M | -$5.0M | -$5.0M | -$2.7M | -$6.4M | -$13.3M | -$17.5M | -$8.4M | -$6.2M | -$7.2M | -$14.1M | |
| EPS (Diluted) | -23.92 | -36.78 | -3.32 | -4.79 | -5.18 | -7.73 | -8.37 | -2.93 | -1.93 | -1.27 | -1.69 | |
| EBITDA | -$4.9M | -$4.9M | -$4.8M | -$2.8M | -$6.3M | -$13.2M | -$17.5M | -$8.5M | -$6.1M | -$7.1M | -$14.3M | |
| Shares Out. (M) | 0.21 | 0.02 | 0.46 | 0.66 | 1.23 | 1.73 | 2.10 | 2.86 | 3.20 | 5.68 | 9.01 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $7.4M | $4.6M | $4.2M | $5.0M | $7.2M | $7.8M | $7.1M | $5.4M | $1.0M | $10.8M | $10.3M | |
| Short-Term Investments | $4.0M | $2.0M | $6.1M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Current Assets | $12.1M | $6.8M | $10.7M | $5.6M | $8.1M | $12.1M | $9.1M | $6.4M | $1.7M | $11.5M | $10.8M | |
| Total Assets | $12.9M | $7.7M | $11.8M | $5.7M | $10.8M | $14.6M | $11.6M | $8.9M | $3.8M | $13.5M | $12.7M | |
| Total Current Liabilities | $623.6K | $320.9K | $493.4K | $461.6K | $1.5M | $1.5M | $2.1M | $1.8M | $1.8M | $1.1M | $3.9M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $623.6K | $320.9K | $493.4K | $461.6K | $1.7M | $1.5M | $2.2M | $1.8M | $1.8M | $1.1M | $3.9M | |
| Stockholders' Equity | $12.3M | $7.4M | $11.3M | $5.3M | $9.1M | $13.1M | $9.4M | $7.0M | $2.0M | $12.5M | $8.8M | |
| Retained Earnings | -$40.4M | -$45.4M | -$50.4M | -$6.7M | -$13.1M | -$26.5M | -$44.0M | -$52.4M | -$58.6M | -$65.9M | -$77.9M |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$4.5M | -$4.7M | -$4.6M | -$4.8M | -$5.0M | -$13.7M | -$12.3M | -$6.6M | -$4.9M | -$7.3M | -$9.0M | |
| Capital Expenditure | -$402.3K | -$302.7K | -$382.8K | -$8.1K | -$34.3K | -$6.1K | -$5.7K | $3.00 | $0.00 | $0.00 | $3.00 | |
| Free Cash Flow | -$4.9M | -$5.0M | -$5.0M | -$4.9M | -$5.0M | -$13.7M | -$12.3M | -$6.6M | -$4.9M | -$7.3M | -$9.0M | |
| Investing Cash Flow | $557.4K | $1.7M | -$4.5M | $6.4M | $19.1K | -$6.1K | -$5.7K | $0.00 | $0.00 | $0.00 | $0.00 | |
| Financing Cash Flow | $7.3M | $5.9K | $8.8M | $0.00 | $7.1M | $14.2M | $11.6M | $4.8M | $592.0K | $17.0M | $7.0M | |
| Issuance of Stock | $7.3M | $0.00 | $8.8M | $0.00 | $7.1M | $14.2M | $11.6M | $4.8M | $621.6K | $17.0M | $7.0M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $0.00 | $0.00 | $0.00 | $0.00 | $29.7K | $0.00 | $0.00 | $0.00 | -$29.5K | $0.00 | $0.00 | |
| Stock Based Comp. | $259.4K | $115.5K | $154.3K | $46.5K | $598.4K | $3.2M | $2.3M | $1.2M | $537.5K | $729.6K | $404.4K | |
| Net Change in Cash | $3.5M | -$2.8M | -$345.4K | $1.7M | $2.2M | $625.6K | -$748.3K | -$1.7M | -$4.3M | $9.8M | -$2.0M |
Dilution Tracker
Shares outstanding grew 361.7% over 5 years — significant dilution
Shares Outstanding
10M
5-Year Share Growth
+361.7%
Stock Issuance (TTM)
$7.0M
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 0.21 | 0.02 | 0.46 | 0.66 | 1.23 | 1.73 | 2.10 | 2.86 | 3.20 | 5.68 | 9.01 | |
| Change vs Prior % | — | -88.7% | 1843.9% | 41.6% | 87.6% | 40.3% | 21.5% | 36.4% | 11.8% | 77.5% | 58.7% | |
| Stock Issuance | $7.3M | $0.00 | $8.8M | $0.00 | $7.1M | $14.2M | $11.6M | $4.8M | $621.6K | $17.0M | $7.0M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $259.4K | $115.5K | $154.3K | $46.5K | $598.4K | $3.2M | $2.3M | $1.2M | $537.5K | $729.6K | $404.4K |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 11.3% | -134.1% | -110.2% | 75.3% | 94.6% | — | — | — | — | — | — | |
| Operating Margin % | -386.0% | -2288.6% | -2397.1% | -689.3% | -1946.7% | — | — | — | — | — | — | |
| Net Margin % | -395.2% | -2203.7% | -2378.6% | -662.3% | -1935.6% | — | — | — | — | — | — | |
| EBITDA Margin % | -382.9% | -2124.7% | -2289.3% | -688.1% | -1929.8% | — | — | — | — | — | — | |
| FCF Margin % | -385.9% | -2191.3% | -2359.4% | -1181.4% | -1527.0% | — | — | — | — | — | — | |
| ROE % | -40.8% | -68.0% | -44.6% | -51.8% | -69.9% | -102.2% | -186.9% | -118.8% | -311.4% | -57.7% | -124.2% | |
| ROA % | -38.8% | -65.2% | -42.8% | -47.6% | -59.1% | -91.5% | -151.6% | -94.2% | -161.8% | -53.1% | -110.9% | |
| ROIC % | -39.9% | -70.6% | -45.0% | -52.8% | -68.8% | -179.3% | -194.3% | -129.1% | -350.6% | -63.5% | -166.0% | |
| R&D / Revenue % | 136.0% | 864.4% | 985.3% | 266.9% | 1012.6% | — | — | — | — | — | — |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 67.6% | -82.0% | -7.2% | 93.9% | -20.0% | -100.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Gross Profit | 276.4% | -312.8% | 23.7% | 232.6% | 0.5% | -138.2% | 100.0% | 0.0% | 0.0% | 0.0% | |
| Operating Income | -13.1% | -6.4% | 2.8% | 44.2% | -126.0% | -270.0% | 22.4% | 49.8% | 23.9% | -12.8% | |
| Net Income | -76.8% | -0.1% | -0.2% | 46.0% | -133.9% | -109.7% | -31.5% | 52.3% | 26.3% | -16.5% | |
| EPS (Diluted) | -59.4% | -53.8% | 91.0% | -44.3% | -8.1% | -49.2% | -8.3% | 65.0% | 34.1% | 34.2% | |
| Operating Cash Flow | -2.1% | -4.3% | 1.8% | -5.0% | -2.9% | -174.0% | 10.1% | 46.0% | 26.3% | -49.7% | |
| Free Cash Flow | -4.7% | -1.9% | 0.1% | 2.9% | -3.4% | -172.3% | 10.1% | 46.0% | 26.3% | -49.7% | |
| R&D Expense | 68.0% | 14.1% | 5.8% | -47.5% | 203.7% | 439.0% | -25.7% | -64.0% | -39.9% | 27.3% | |
| SG&A Expense | 3.0% | -11.4% | -6.4% | -25.8% | 65.4% | 69.5% | -12.2% | -12.1% | -6.7% | 2.7% | |
| Total Assets | 24.6% | -40.3% | 52.6% | -51.5% | 88.2% | 35.5% | -20.6% | -23.2% | -57.1% | 254.8% | |
| Book Value / Share | 38.7% | 449.0% | -92.4% | -67.2% | -7.6% | 2.1% | -40.8% | -45.0% | -74.9% | 254.0% | |
| Debt | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -39.5% | -80.9% | 398.0% | -79.0% | -100.0% | |
| Diluted Shares | 10.9% | -88.7% | 1843.9% | 41.6% | 87.6% | 40.3% | 21.5% | 36.4% | 11.8% | 77.5% |
Valuation
P/E (TTM)At Loss
P/S0.00
10Y Low / Med / High33.47 / 116.60 / 211.15
P/B2.19
10Y Low / Med / High1.03 / 5.43 / 12.04
EV/EBITDAAt Loss
EV/Revenue0.00
10Y Low / Med / High13.45 / 107.37 / 189.71
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$2.00
Tangible Book / Share
$0.77
Net Current Assets / Share
$0.71
Graham Net-Net
$0.73
Cash / Share
$1.15
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -29.50 | -9.03 | -17.58 | -9.10 | -10.91 | -6.68 | -0.77 | -1.51 | -2.31 | -1.94 | -1.27 | |
| P/S Ratio | 116.60 | 33.47 | 127.32 | 69.52 | 211.15 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| P/B Ratio | 12.04 | 1.03 | 2.39 | 5.43 | 7.62 | 6.82 | 1.44 | 1.79 | 7.18 | 1.13 | 2.19 | |
| EV/EBITDA | -28.93 | -0.63 | -4.69 | -8.32 | -9.83 | -6.15 | -0.37 | -0.87 | -2.15 | -0.46 | -0.72 | |
| EV/Revenue | 110.77 | 13.45 | 107.37 | 57.28 | 189.71 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
-8.49
Distress
Piotroski F-Score
1
Weak
Forward Estimates (consensus)
| Metric | FY2027 | FY2028 | FY2029 |
|---|---|---|---|
| Revenue | $19.0M | $23.3M | $70.5M |
| Net Income | -$11.7M | -$11.6M | -$13.5M |
| EPS | $-2.07 | $-2.05 | $-2.37 |
| # Analysts (EPS) | 2 | 2 | 1 |
Revenue Segments
By Product
| Segment | 2018 |
|---|---|
| Product | $211.8K |