Nautilus Biotechnolgy, Inc.
NAUTHealthcare|Biotechnology|US
$2.23
+0.08 (+3.72%)
Tangible Book / Share
$0.92
Cash / Share
$0.68
Financials
Financial Snapshot
Market Cap
$284.0M
Enterprise Value
$300.3M
Revenue (TTM)
$424.0K
Net Income (TTM)
-$58.6M
Cash & Investments
$86.6M
Net Cash
$59.8M
Free Cash Flow (TTM)
-$55.1M
Operating CF (TTM)
-$52.5M
Debt/Equity
0.23
Cash Runway & Burn Rate
Cash on Hand
$86.6M
Quarterly Burn
$13.1M
Monthly Burn
$4.4M
Est. Runway
~6.6 quarters
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $144.49B | $16.7M | $76.7M | $345.7M | $184.5M | $173.4M | $129.9M | $103.4M | $86.6M | |
| Operating Cash Flow | -$238.3M | -$9.7M | -$14.0M | -$39.2M | -$45.8M | -$51.7M | -$59.1M | -$50.7M | -$52.5M | |
| Free Cash Flow | -$238.3M | -$10.6M | -$14.9M | -$41.5M | -$48.1M | -$54.2M | -$61.3M | -$52.0M | -$55.1M | |
| Capital Expenditure | $0.00 | -$926.0K | -$921.0K | -$2.3M | -$2.3M | -$2.4M | -$2.1M | -$1.3M | -$2.7M | |
| Financing Cash Flow | $145.19B | $36.0K | $75.9M | $327.4M | $562.0K | $368.0K | $1.1M | $214.0K | $1.5M |
R&D Spending
R&D (TTM)
$40.1M
R&D Intensity
9454.0%
R&D Growth vs Prior
-2.5%
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $424.0K | |
| R&D Expense | $0.00 | $8.5M | $10.1M | $26.5M | $37.7M | $47.3M | $50.5M | $41.1M | $40.1M | |
| R&D % of Revenue | — | — | — | — | — | — | — | — | 9454.0% | |
| SG&A | $111.7M | $1.6M | $3.3M | $21.1M | $25.9M | $28.9M | $31.0M | $25.7M | $25.4M |
Income Statement
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $424.0K | |
| Cost of Revenue | $0.00 | $0.00 | $2.3M | $2.8M | $0.00 | $5.7M | $6.4M | $6.5M | $2.0M | |
| Gross Profit | $0.00 | $0.00 | -$2.3M | -$2.8M | $0.00 | -$5.7M | -$6.4M | -$6.5M | -$1.5M | |
| R&D | $0.00 | $8.5M | $10.1M | $26.5M | $37.7M | $47.3M | $50.5M | $41.1M | $40.1M | |
| SG&A | $111.7M | $1.6M | $3.3M | $21.1M | $25.9M | $28.9M | $31.0M | $25.7M | $25.4M | |
| Operating Income | -$111.7M | -$10.1M | -$15.7M | -$50.5M | -$63.6M | -$76.2M | -$81.5M | -$66.8M | -$64.0M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | $626.6M | -$9.6M | -$15.6M | -$50.3M | -$57.9M | -$63.7M | -$70.8M | -$59.0M | -$58.6M | |
| Net Income | $626.6M | -$9.6M | -$15.6M | -$50.3M | -$57.9M | -$63.7M | -$70.8M | -$59.0M | -$58.6M | |
| EPS (Diluted) | 87.18 | -1.59 | -0.47 | -0.60 | -0.46 | -0.51 | -0.56 | -0.47 | -0.46 | |
| EBITDA | $626.6M | -$9.6M | -$13.3M | -$47.5M | -$60.1M | -$58.0M | -$64.4M | -$52.5M | -$54.2M | |
| Shares Out. (M) | 7.19 | 6.07 | 33.07 | 84.46 | 124.59 | 124.92 | 125.43 | 126.26 | 127.24 |
Balance Sheet
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.2M | $595.0K | $36.6M | $185.6M | $114.5M | $19.4M | $27.6M | $12.4M | $10.5M | |
| Short-Term Investments | $144.49B | $16.1M | $40.1M | $160.1M | $69.9M | $154.0M | $102.2M | $91.0M | $76.1M | |
| Total Current Assets | $1.3M | $17.0M | $77.7M | $349.2M | $187.2M | $176.8M | $132.8M | $106.0M | $90.2M | |
| Total Assets | $145.8M | $18.5M | $85.0M | $398.4M | $350.1M | $305.6M | $242.7M | $191.1M | $148.9M | |
| Total Current Liabilities | $5.0K | $490.0K | $3.0M | $5.8M | $6.8M | $9.1M | $7.6M | $8.0M | $9.8M | |
| Long-Term Debt | $5.0M | $275.0M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $140.8M | $490.0K | $114.7M | $34.9M | $35.1M | $40.2M | $34.0M | $34.1M | $32.4M | |
| Stockholders' Equity | $5.0M | $18.1M | -$29.7M | $363.6M | $314.9M | $265.4M | $208.7M | $157.0M | $116.6M | |
| Retained Earnings | $626.6K | -$14.7M | -$30.3M | -$80.6M | -$138.6M | -$202.2M | -$273.0M | -$332.0M | -$376.8M |
Cash Flow Statement
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$238.3M | -$9.7M | -$14.0M | -$39.2M | -$45.8M | -$51.7M | -$59.1M | -$50.7M | -$52.5M | |
| Capital Expenditure | $0.00 | -$926.0K | -$921.0K | -$2.3M | -$2.3M | -$2.4M | -$2.1M | -$1.3M | -$2.7M | |
| Free Cash Flow | -$238.3M | -$10.6M | -$14.9M | -$41.5M | -$48.1M | -$54.2M | -$61.3M | -$52.0M | -$55.1M | |
| Investing Cash Flow | $1.2M | $4.0M | -$25.3M | -$139.0M | -$25.7M | -$43.7M | $66.3M | $35.2M | $37.5M | |
| Financing Cash Flow | $145.19B | $36.0K | $75.9M | $327.4M | $562.0K | $368.0K | $1.1M | $214.0K | $1.5M | |
| Issuance of Stock | $0.00 | $0.00 | $0.00 | -$8.0M | $562.0K | $368.0K | $1.1M | $214.0K | $1.5M | |
| Repurchase of Stock | -$1.2M | -$874.3K | $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 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $0.00 | $110.0K | $369.0K | $7.9M | $10.4M | $12.1M | $12.7M | $6.8M | $5.3M | |
| Net Change in Cash | $1.2M | $595.0K | $36.6M | $149.2M | -$71.0M | -$95.1M | $8.2M | -$15.3M | -$13.5M |
Dilution Tracker
Shares outstanding grew 281.8% over 5 years — significant dilution
Shares Outstanding
127M
5-Year Share Growth
+281.8%
Stock Issuance (TTM)
$1.5M
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 7.19 | 6.07 | 33.07 | 84.46 | 124.59 | 124.92 | 125.43 | 126.26 | 127.24 | |
| Change vs Prior % | — | -15.6% | 445.1% | 155.4% | 47.5% | 0.3% | 0.4% | 0.7% | 0.8% | |
| Stock Issuance | $0.00 | $0.00 | $0.00 | -$8.0M | $562.0K | $368.0K | $1.1M | $214.0K | $1.5M | |
| Stock Repurchase | -$1.2M | -$874.3K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $0.00 | $110.0K | $369.0K | $7.9M | $10.4M | $12.1M | $12.7M | $6.8M | $5.3M |
Margins & Profitability
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | — | — | — | — | — | — | — | — | -362.5% | |
| Operating Margin % | — | — | — | — | — | — | — | — | -15105.7% | |
| Net Margin % | — | — | — | — | — | — | — | — | -13816.7% | |
| EBITDA Margin % | — | — | — | — | — | — | — | — | -12788.9% | |
| FCF Margin % | — | — | — | — | — | — | — | — | -13003.5% | |
| ROE % | 12532.0% | -53.3% | 52.6% | -13.8% | -18.4% | -24.0% | -33.9% | -37.6% | -42.7% | |
| ROA % | 429.7% | -51.9% | -18.4% | -12.6% | -16.5% | -20.8% | -29.2% | -30.9% | -39.3% | |
| ROIC % | -76.6% | -56.0% | -18.9% | -12.8% | -18.4% | -25.4% | -34.1% | -35.7% | -44.7% | |
| R&D / Revenue % | — | — | — | — | — | — | — | — | 9454.0% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Gross Profit | 0.0% | 0.0% | 0.0% | -21.1% | 100.0% | 0.0% | -11.4% | -1.8% | |
| Operating Income | 0.0% | 90.9% | -55.7% | -220.7% | -26.0% | -19.7% | -7.0% | 18.0% | |
| Net Income | 0.0% | -101.5% | -62.4% | -222.1% | -15.1% | -9.9% | -11.2% | 16.6% | |
| EPS (Diluted) | 0.0% | -101.8% | 70.4% | -27.7% | 23.3% | -10.9% | -9.8% | 16.1% | |
| Operating Cash Flow | 0.0% | 95.9% | -44.9% | -180.4% | -16.7% | -12.9% | -14.4% | 14.3% | |
| Free Cash Flow | 0.0% | 95.6% | -40.9% | -178.3% | -15.9% | -12.5% | -13.1% | 15.2% | |
| R&D Expense | 0.0% | 0.0% | 18.8% | 162.8% | 42.1% | 25.4% | 6.8% | -18.6% | |
| SG&A Expense | 0.0% | -98.5% | 104.2% | 538.5% | 22.7% | 11.4% | 7.3% | -17.0% | |
| Total Assets | 0.0% | -87.3% | 358.5% | 368.7% | -12.1% | -12.7% | -20.6% | -21.3% | |
| Book Value / Share | 0.0% | 327.8% | -130.2% | 579.0% | -41.3% | -16.0% | -21.7% | -25.3% | |
| Debt | 0.0% | 5400.0% | -98.3% | 528.9% | 1.0% | 14.2% | -12.0% | -1.5% | |
| Diluted Shares | 0.0% | -15.6% | 445.1% | 155.4% | 47.5% | 0.3% | 0.4% | 0.7% |
Valuation
P/E (TTM)At Loss
P/S669.90
P/B2.43
10Y Low / Med / High0.71 / 1.41 / 15.01
EV/EBITDAAt Loss
EV/Revenue708.29
P/FCFAt Loss
Intrinsic Value Models (per share)
Tangible Book / Share
$0.92
Net Current Assets / Share
$0.45
Graham Net-Net
$0.43
Cash / Share
$0.68
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | 0.12 | -6.57 | -23.09 | -8.63 | -3.91 | -5.86 | -3.00 | -4.15 | -4.85 | |
| P/S Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 669.90 | |
| P/B Ratio | 15.01 | 3.51 | -12.07 | 1.20 | 0.71 | 1.41 | 1.01 | 1.57 | 2.43 | |
| EV/EBITDA | 0.13 | -35.32 | -24.63 | -5.94 | -2.33 | -6.71 | -3.31 | -5.02 | -5.54 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 708.29 |
Analyst Estimates & Quality
Altman Z-Score
1.05
Distress
Piotroski F-Score
3
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $668.5K | $5.8M | $17.9M |
| Net Income | -$72.3M | -$63.7M | -$57.4M |
| EPS | $-0.48 | $-0.48 | $-0.45 |
| # Analysts (EPS) | 3 | 3 | 3 |