Metagenomi, Inc. Common Stock
MGXHealthcare|Biotechnology|US
$0.71
-0.02 (-2.93%)
Tangible Book / Share
$2.99
Cash / Share
$3.20
Financials
Financial Snapshot
Market Cap
$26.8M
Enterprise Value
$25.5M
Revenue (TTM)
$13.6M
Net Income (TTM)
-$93.5M
Cash & Investments
$120.7M
Net Cash
$82.9M
Free Cash Flow (TTM)
-$85.8M
Operating CF (TTM)
-$85.5M
Debt/Equity
0.34
Cash Runway & Burn Rate
Cash on Hand
$120.7M
Quarterly Burn
$21.4M
Monthly Burn
$7.1M
Est. Runway
~5.6 quarters
| Metric | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
| Cash & Investments | $108.2M | $362.1M | $271.2M | $248.3M | $160.8M | $120.7M | |
| Operating Cash Flow | $24.3M | $29.7M | -$91.4M | -$109.1M | -$88.9M | -$85.5M | |
| Free Cash Flow | $21.4M | $15.7M | -$101.2M | -$112.2M | -$89.5M | -$85.8M | |
| Capital Expenditure | -$2.9M | -$14.0M | -$9.8M | -$3.1M | -$574.0K | -$309.0K | |
| Financing Cash Flow | $39.9M | $239.6M | $1.0M | $84.0M | -$356.0K | -$73.0K |
R&D Spending
R&D (TTM)
$87.3M
R&D Intensity
643.6%
R&D Growth vs Prior
-7.6%
| Metric | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
| Revenue | $243.0K | $17.2M | $44.8M | $52.3M | $25.2M | $13.6M | |
| R&D Expense | $14.5M | $43.1M | $94.4M | $109.2M | $94.4M | $87.3M | |
| R&D % of Revenue | 5958.0% | 250.8% | 210.9% | 208.8% | 374.6% | 643.6% | |
| SG&A | $9.7M | $18.7M | $28.8M | $32.0M | $26.8M | $24.2M |
Income Statement
| Metric | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
| Revenue | $243.0K | $17.2M | $44.8M | $52.3M | $25.2M | $13.6M | |
| Cost of Revenue | $387.0K | $1.7M | $94.4M | $0.00 | $5.3M | $3.5M | |
| Gross Profit | -$144.0K | $15.5M | -$49.6M | $52.3M | $19.9M | $10.1M | |
| R&D | $14.5M | $43.1M | $94.4M | $109.2M | $94.4M | $87.3M | |
| SG&A | $9.7M | $18.7M | $28.8M | $32.0M | $26.8M | $24.2M | |
| Operating Income | -$23.9M | -$44.6M | -$78.5M | -$88.9M | -$96.0M | -$100.6M | |
| Interest Expense | $302.0K | $98.0K | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | -$21.4M | -$41.0M | -$60.2M | -$83.6M | -$87.9M | -$93.7M | |
| Net Income | -$21.4M | -$43.6M | -$68.3M | -$78.1M | -$87.9M | -$93.5M | |
| EPS (Diluted) | -3.62 | -1.16 | -1.82 | -2.09 | -2.36 | -2.49 | |
| EBITDA | -$20.8M | -$39.2M | -$56.0M | -$78.2M | -$82.6M | -$88.5M | |
| Shares Out. (M) | 5.93 | 37.47 | 37.47 | 37.42 | 37.25 | 37.66 |
Balance Sheet
| Metric | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $39.3M | $184.4M | $140.6M | $27.4M | $41.7M | $39.0M | |
| Short-Term Investments | $68.9M | $177.7M | $130.6M | $220.9M | $119.1M | $81.6M | |
| Total Current Assets | $108.9M | $366.9M | $278.3M | $258.0M | $165.5M | $124.5M | |
| Total Assets | $142.0M | $414.5M | $364.8M | $324.6M | $221.1M | $173.7M | |
| Total Current Liabilities | $25.2M | $48.5M | $68.9M | $37.3M | $22.9M | $27.6M | |
| Long-Term Debt | $30.3M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $174.5M | $488.9M | $500.4M | $89.7M | $62.5M | $61.1M | |
| Stockholders' Equity | -$32.5M | -$74.4M | -$135.6M | $234.9M | $158.6M | $112.6M | |
| Retained Earnings | -$33.1M | -$76.7M | -$144.9M | -$223.0M | -$310.9M | -$361.4M |
Cash Flow Statement
| Metric | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $24.3M | $29.7M | -$91.4M | -$109.1M | -$88.9M | -$85.5M | |
| Capital Expenditure | -$2.9M | -$14.0M | -$9.8M | -$3.1M | -$574.0K | -$309.0K | |
| Free Cash Flow | $21.4M | $15.7M | -$101.2M | -$112.2M | -$89.5M | -$85.8M | |
| Investing Cash Flow | -$74.3M | -$122.2M | $45.7M | -$88.2M | $103.5M | $96.9M | |
| Financing Cash Flow | $39.9M | $239.6M | $1.0M | $84.0M | -$356.0K | -$73.0K | |
| Issuance of Stock | $0.00 | $0.00 | $0.00 | $84.0M | $202.0K | $167.0K | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $30.0M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $375.0K | $2.0M | $6.9M | $16.2M | $11.9M | $10.5M | |
| Net Change in Cash | -$10.1M | $147.1M | -$44.7M | -$113.2M | $14.3M | $12.1M |
Dilution Tracker
Shares outstanding grew 528.2% over 5 years — significant dilution
Shares Outstanding
38M
5-Year Share Growth
+528.2%
Stock Issuance (TTM)
$167.0K
| Metric | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 5.93 | 37.47 | 37.47 | 37.42 | 37.25 | 37.66 | |
| Change vs Prior % | — | 531.9% | 0.0% | -0.1% | -0.4% | 1.1% | |
| Stock Issuance | $0.00 | $0.00 | $0.00 | $84.0M | $202.0K | $167.0K | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $375.0K | $2.0M | $6.9M | $16.2M | $11.9M | $10.5M |
Margins & Profitability
| Metric | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
| Gross Margin % | -59.3% | 89.9% | -110.9% | 100.0% | 78.9% | 74.3% | |
| Operating Margin % | -9854.7% | -259.5% | -175.4% | -170.0% | -380.9% | -741.6% | |
| Net Margin % | -8823.9% | -253.4% | -152.5% | -149.3% | -348.5% | -689.2% | |
| EBITDA Margin % | -8540.3% | -227.9% | -125.2% | -149.5% | -327.7% | -652.5% | |
| FCF Margin % | 8787.7% | 91.6% | -226.2% | -214.5% | -354.9% | -632.7% | |
| ROE % | 65.9% | 58.6% | 50.3% | -33.2% | -55.4% | -63.6% | |
| ROA % | -15.1% | -10.5% | -18.7% | -24.0% | -39.7% | -53.8% | |
| ROIC % | -20.4% | -12.1% | -26.2% | -28.4% | -47.0% | -65.9% | |
| R&D / Revenue % | 5958.0% | 250.8% | 210.9% | 208.8% | 374.6% | 643.6% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | 0.0% | 6978.2% | 160.2% | 16.8% | -51.8% | |
| Gross Profit | 0.0% | 10841.0% | -421.0% | 205.3% | -62.0% | |
| Operating Income | 0.0% | -86.4% | -75.8% | -13.3% | -8.0% | |
| Net Income | 0.0% | -103.3% | -56.6% | -14.4% | -12.6% | |
| EPS (Diluted) | 0.0% | 68.0% | -56.9% | -14.8% | -12.9% | |
| Operating Cash Flow | 0.0% | 22.5% | -407.5% | -19.3% | 18.5% | |
| Free Cash Flow | 0.0% | -26.3% | -742.8% | -10.8% | 20.3% | |
| R&D Expense | 0.0% | 198.0% | 118.8% | 15.7% | -13.5% | |
| SG&A Expense | 0.0% | 92.6% | 54.2% | 11.0% | -16.3% | |
| Total Assets | 0.0% | 191.9% | -12.0% | -11.0% | -31.9% | |
| Book Value / Share | 0.0% | 63.8% | -82.2% | 273.5% | -32.2% | |
| Debt | 0.0% | -62.0% | 159.7% | -5.1% | -11.2% | |
| Diluted Shares | 0.0% | 531.9% | 0.0% | -0.1% | -0.4% |
Valuation
P/E (TTM)At Loss
P/S1.98
10Y Low / Med / High2.39 / 8.63 / 251.58
P/B0.24
EV/EBITDAAt Loss
EV/Revenue1.88
10Y Low / Med / High2.35 / 6.57 / 291.22
P/FCFAt Loss
Intrinsic Value Models (per share)
Tangible Book / Share
$2.99
Net Current Assets / Share
$1.68
Graham Net-Net
$1.60
Cash / Share
$3.20
| Metric | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
| P/E Ratio | -2.85 | -8.89 | -5.66 | -1.73 | -0.69 | -0.28 | |
| P/S Ratio | 251.58 | 22.46 | 8.63 | 2.58 | 2.39 | 1.98 | |
| P/B Ratio | -1.88 | -5.19 | -2.85 | 0.58 | 0.38 | 0.24 | |
| EV/EBITDA | -3.41 | -5.63 | -5.25 | -1.96 | -0.72 | -0.29 | |
| EV/Revenue | 291.22 | 12.82 | 6.57 | 2.93 | 2.35 | 1.88 |
Analyst Estimates & Quality
Altman Z-Score
-3.68
Distress
Piotroski F-Score
2
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $5.1M | $9.3M | $6.7M |
| Net Income | -$89.9M | -$71.8M | -$107.5M |
| EPS | $-2.49 | $-1.88 | $-1.86 |
| # Analysts (EPS) | 3 | 3 | 1 |