CytoDyn Inc (CYDY) Q3 2025 Earnings Report

Financial metrics (QQ3 2025, USD):
- Revenue: None reported; Gross profit: None; Gross margin: N/A.
- Operating expenses: $4.003 million (R&D $2.487m; G&A $1.511m; Other $0.005m).
- EBITDA: $(3.498) million; EBITDA margin: N/A; Operating income: $(4.003) million.
- Interest expense: $(1.256) million; Depreciation & amortization: $0.005 million.
- Income before tax: $(4.758) million; Net income: $(4.758) million; EPS: $(0.0039).
- Weighted-average shares outstanding: 1.228 billion.
- Cash flow: Net cash from operating activities $(4.956) million; Net change in cash $(4.935) million; Cash at end of period $16.4 million; Free cash flow $(4.956) million.
- Balance sheet: Total assets $21.191 million; Total liabilities $114.170 million; Total stockholders’ equity $(92.979) million; Cash and equivalents $16.4 million; Total debt $27.317 million; Short-term debt $27.141 million; Working capital positioned as negative. Current ratio 0.297; Quick ratio 0.297; Cash ratio 0.232.
- Key liquidity indicators: Current and quick ratios well below 1 indicate material funding risk; debt levels are substantial relative to assets and equity; negative net equity (-$92.979 million) underscores structural leverage.