ProKidney Corp.
PROKHealthcare|Biotechnology|US
$1.14
+0.07 (+7.04%)
DCF Value
$0.86
Tangible Book / Share
$1.19
Cash / Share
$0.97
Financials
Financial Snapshot
Market Cap
$383.3M
Enterprise Value
$312.0M
Revenue (TTM)
$818.0K
Net Income (TTM)
-$86.7M
Cash & Investments
$181.6M
Net Cash
$178.0M
Free Cash Flow (TTM)
-$159.7M
Operating CF (TTM)
-$141.2M
Debt/Equity
-0.00
Cash Runway & Burn Rate
Cash on Hand
$181.6M
Quarterly Burn
$35.3M
Monthly Burn
$11.8M
Est. Runway
~5.1 quarters
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $15.2M | $4.6M | $20.6M | $490.3M | $362.9M | $358.3M | $270.0M | $181.6M | |
| Operating Cash Flow | -$76.8K | -$25.2M | -$50.3M | -$77.1M | -$90.1M | -$126.4M | -$120.1M | -$141.2M | |
| Free Cash Flow | -$78.1K | -$30.6M | -$55.5M | -$78.9M | -$124.3M | -$155.9M | -$135.3M | -$159.7M | |
| Capital Expenditure | -$1.3K | -$5.5M | -$5.2M | -$1.8M | -$34.2M | -$29.5M | -$15.2M | -$18.6M | |
| Financing Cash Flow | $20.0K | $20.0M | $71.5M | $548.5M | -$9.6M | $144.4M | $25.6M | $26.4M |
R&D Spending
R&D (TTM)
$130.9M
R&D Intensity
16004.3%
R&D Growth vs Prior
+14.7%
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $76.0K | $893.0K | $818.0K | |
| R&D Expense | $75.2M | $21.0M | $46.3M | $82.1M | $106.7M | $127.7M | $114.1M | $130.9M | |
| R&D % of Revenue | — | — | — | — | — | 167984.2% | 12779.7% | 16004.3% | |
| SG&A | $4.2M | $6.0M | $8.9M | $70.9M | $44.8M | $56.1M | $51.8M | $41.9M |
Income Statement
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $76.0K | $893.0K | $818.0K | |
| Cost of Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.9M | |
| Gross Profit | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $76.0K | $893.0K | -$2.1M | |
| R&D | $75.2M | $21.0M | $46.3M | $82.1M | $106.7M | $127.7M | $114.1M | $130.9M | |
| SG&A | $4.2M | $6.0M | $8.9M | $70.9M | $44.8M | $56.1M | $51.8M | $41.9M | |
| Operating Income | -$79.4M | -$27.0M | -$55.1M | -$153.0M | -$151.5M | -$183.7M | -$165.0M | -$177.2M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | $215.0K | $12.0K | $9.0K | $4.0K | $19.0K | |
| Pretax Income | -$79.3M | -$27.0M | -$55.1M | -$147.2M | -$129.5M | -$163.9M | -$151.2M | -$166.8M | |
| Net Income | -$79.6M | -$26.7M | -$55.1M | -$108.0M | -$35.5M | -$61.2M | -$69.0M | -$86.7M | |
| EPS (Diluted) | -1.01 | -0.14 | -1.73 | -1.76 | -0.57 | -0.62 | -0.52 | -0.57 | |
| EBITDA | -$18.3M | -$26.1M | -$53.1M | -$144.0M | -$125.6M | -$158.5M | -$144.6M | -$159.9M | |
| Shares Out. (M) | 78.53 | 186.50 | 31.89 | 61.54 | 61.71 | 97.92 | 133.94 | 186.56 |
Balance Sheet
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $15.2M | $4.6M | $20.6M | $490.3M | $60.6M | $99.1M | $108.5M | $74.9M | |
| Short-Term Investments | $0.00 | $0.00 | $0.00 | $0.00 | $302.3M | $259.2M | $161.5M | $106.7M | |
| Total Current Assets | $15.4M | $5.6M | $27.3M | $504.7M | $374.1M | $395.9M | $280.7M | $189.8M | |
| Total Assets | $19.6M | $16.7M | $40.3M | $518.0M | $420.6M | $441.1M | $335.6M | $249.0M | |
| Total Current Liabilities | $2.7M | $5.5M | $12.3M | $10.9M | $25.0M | $36.2M | $30.7M | $22.7M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $3.7M | $6.8M | $13.4M | $13.1M | $29.2M | $39.4M | $34.8M | $26.2M | |
| Stockholders' Equity | $15.9M | $9.9M | $26.9M | -$1.10B | -$1.10B | -$995.0M | -$1.01B | -$883.5M | |
| Retained Earnings | -$79.6M | -$106.4M | -$161.5M | -$1.10B | -$1.14B | -$1.20B | -$1.27B | -$1.32B |
Cash Flow Statement
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$76.8K | -$25.2M | -$50.3M | -$77.1M | -$90.1M | -$126.4M | -$120.1M | -$141.2M | |
| Capital Expenditure | -$1.3K | -$5.5M | -$5.2M | -$1.8M | -$34.2M | -$29.5M | -$15.2M | -$18.6M | |
| Free Cash Flow | -$78.1K | -$30.6M | -$55.5M | -$78.9M | -$124.3M | -$155.9M | -$135.3M | -$159.7M | |
| Investing Cash Flow | -$3.0K | -$5.5M | -$5.2M | -$1.7M | -$330.0M | $20.4M | $104.0M | $104.7M | |
| Financing Cash Flow | $20.0K | $20.0M | $71.5M | $548.5M | -$9.6M | $144.4M | $25.6M | $26.4M | |
| Issuance of Stock | $0.00 | $0.00 | $71.5M | $6.0M | $0.00 | $144.3M | $25.6M | $18.4M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | -$9.5M | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $0.00 | -$11.0K | -$30.0K | -$32.0K | -$52.0K | -$54.0K | -$26.0K | -$11.0K | |
| Stock Based Comp. | $498.00 | $730.0K | $699.0K | $74.5M | $30.8M | $29.4M | $25.3M | $16.2M | |
| Net Change in Cash | $15.2K | -$10.6M | $16.0M | $469.7M | -$429.6M | $38.5M | $9.4M | -$10.1M |
Dilution Tracker
Shares Outstanding
148M
5-Year Share Growth
-28.2%
Stock Issuance (TTM)
$18.4M
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 78.53 | 186.50 | 31.89 | 61.54 | 61.71 | 97.92 | 133.94 | 186.56 | |
| Change vs Prior % | — | 137.5% | -82.9% | 93.0% | 0.3% | 58.7% | 36.8% | 39.3% | |
| Stock Issuance | $0.00 | $0.00 | $71.5M | $6.0M | $0.00 | $144.3M | $25.6M | $18.4M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | -$9.5M | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $498.00 | $730.0K | $699.0K | $74.5M | $30.8M | $29.4M | $25.3M | $16.2M |
Margins & Profitability
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | — | — | — | — | — | 100.0% | 100.0% | -252.6% | |
| Operating Margin % | — | — | — | — | — | -241678.9% | -18477.8% | -21664.5% | |
| Net Margin % | — | — | — | — | — | -80507.9% | -7725.2% | -10599.8% | |
| EBITDA Margin % | — | — | — | — | — | -208542.1% | -16194.7% | -19549.1% | |
| FCF Margin % | — | — | — | — | — | -205078.9% | -15152.6% | -19527.4% | |
| ROE % | -501.3% | -271.2% | -204.9% | 9.9% | 3.2% | 6.1% | 6.8% | 8.8% | |
| ROA % | -406.1% | -160.2% | -136.8% | -20.9% | -8.4% | -13.9% | -20.6% | -34.8% | |
| ROIC % | -467.1% | -234.5% | -195.1% | -30.1% | -38.2% | -45.1% | -53.9% | -68.1% | |
| R&D / Revenue % | — | — | — | — | — | 167984.2% | 12779.7% | 16004.3% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 1075.0% | |
| Gross Profit | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 1075.0% | |
| Operating Income | 0.0% | 66.0% | -103.9% | -177.6% | 1.0% | -21.2% | 10.2% | |
| Net Income | 0.0% | 66.4% | -106.2% | -95.9% | 67.2% | -72.5% | -12.7% | |
| EPS (Diluted) | 0.0% | 86.1% | -1135.7% | -1.7% | 67.6% | -8.8% | 16.1% | |
| Operating Cash Flow | 0.0% | -32685.2% | -99.7% | -53.3% | -16.8% | -40.3% | 4.9% | |
| Free Cash Flow | 0.0% | -39122.4% | -81.1% | -42.2% | -57.4% | -25.4% | 13.2% | |
| R&D Expense | 0.0% | -72.0% | 119.8% | 77.4% | 30.0% | 19.6% | -10.6% | |
| SG&A Expense | 0.0% | 43.8% | 48.0% | 701.1% | -36.8% | 25.1% | -7.7% | |
| Total Assets | 0.0% | -14.8% | 141.3% | 1185.4% | -18.8% | 4.9% | -23.9% | |
| Book Value / Share | 0.0% | -73.9% | 1495.9% | 872.1% | -22.7% | -35.3% | -45.3% | |
| Debt | 0.0% | 40.2% | -14.4% | 79.8% | 84.0% | -26.7% | 24.7% | |
| Diluted Shares | 0.0% | 137.5% | -82.9% | 93.0% | 0.3% | 58.7% | 36.8% |
Valuation
P/E (TTM)At Loss
P/S468.62
P/B-0.24
10Y Low / Med / High11.73 / 49.98 / 191.15
EV/EBITDAAt Loss
EV/Revenue381.40
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$0.86
Tangible Book / Share
$1.19
Net Current Assets / Share
$1.10
Graham Net-Net
$0.84
Cash / Share
$0.97
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -10.01 | -72.21 | -5.72 | -3.90 | -3.12 | -2.73 | -4.31 | -2.00 | |
| P/S Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2177.35 | 335.98 | 468.62 | |
| P/B Ratio | 49.98 | 191.15 | 11.73 | -0.38 | -0.10 | -0.17 | -0.30 | -0.24 | |
| EV/EBITDA | -97.72 | -164.08 | -13.13 | -3.27 | -1.54 | -1.76 | -3.99 | -1.95 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3679.70 | 645.46 | 381.40 |
Analyst Estimates & Quality
Altman Z-Score
-0.03
Distress
Piotroski F-Score
1
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $529.0K | $494.2K | $62.8M |
| Net Income | -$32.3M | -$104.4M | -$52.3M |
| EPS | $-0.24 | $-0.69 | $-0.38 |
| # Analysts (EPS) | 3 | 3 | 3 |