HCW Biologics Inc.
Income Statement
| Line Item | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $121.7K | $6.5M | $27.0K | $15.6K | $6.6K | $5.1K | $394.8K | $426.4K |
| Cost of Revenue | $229.5K | $11.1K | $21.6K | $12.5K | $5.2K | $4.1K | $315.8K | $341.1K |
| Gross Profit | $-93.9K | $6.5M | $5.4K | $3.1K | $1.3K | $1.0K | $79.0K | $85.3K |
| Gross Margin | -77.1% | 100.5% | 20.0% | 20.0% | 20.0% | 20.0% | 20.0% | 20.0% |
| Operating Expenses | ||||||||
| Research & Development | $1.2M | $1.3M | $1.3M | $1.4M | $1.2M | $1.5M | $1.0M | $1.2M |
| SG&A Expense | $1.9M | $1.8M | $1.5M | $1.9M | $2.1M | $2.2M | $2.0M | $1.6M |
| Operating Income | $-3.2M | $3.2M | $-4.4M | $-3.3M | $-3.5M | $-2.0M | $-3.1M | $-3.7M |
| Operating Margin | -2,601.1% | 49.8% | -16,439.6% | -21,095.3% | -52,886.7% | -38,811.5% | -795.9% | -864.1% |
| Interest Expense | $100.5K | $109.3K | $233.4K | $127.1K | $228.7K | $255.8K | $265.6K | $229.1K |
| Pretax Income | $-5.2M | $3.8M | — | — | $-1.9M | $-2.2M | — | — |
| Income Tax Expense | — | $330.2K | — | — | — | $0 | — | — |
| Net Income | $-5.2M | $3.5M | $719.2K | $-4.6M | $-1.9M | $-2.2M | $-3.4M | $-3.9M |
| Net Margin | -4,287.5% | 53.4% | 2,662.7% | -29,183.2% | -29,431.0% | -43,373.6% | -854.4% | -915.1% |
| EPS (Basic) | $-11.58 | $1.39 | $43.91 | $-1.01 | $-20.36 | $-5.90 | $-5.24 | $-2.07 |
| EPS (Diluted) | $-11.58 | $1.39 | $43.91 | $-1.01 | $-20.36 | $-5.90 | $-5.24 | $-2.07 |
| Shares Outstanding (Basic) | 1.3M | 904.3K | 2.1M | 4.5M | 593.4K | 372.3K | 1.9M | 1.9M |
| Shares Outstanding (Diluted) | 1.3M | 904.3K | 2.1M | 4.5M | 593.4K | 372.3K | 1.9M | 1.9M |
| Dividends Per Share | — | — | — | — | — | — | — | — |