HCW Biologics Inc.
Income Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|---|
| Revenue | — | $54.2K | $2.6M | $2.8M | $6.7M | $0 | $4.1M |
| Cost of Revenue | — | $43.4K | $1.6M | $2.3M | $4.1M | $0 | — |
| Gross Profit | — | $10.8K | $959.4K | $560.4K | $2.6M | $0 | — |
| Gross Margin | — | 20.0% | 37.4% | 19.7% | 38.5% | — | — |
| Operating Expenses | |||||||
| Research & Development | — | $5.4M | $6.4M | $7.7M | $9.3M | $8.2M | $7.3M |
| SG&A Expense | — | $7.7M | $6.8M | $6.8M | $8.3M | $5.2M | $2.7M |
| Operating Income | — | $-13.2M | $-29.5M | $-25.7M | $-15.1M | $-13.4M | $-5.8M |
| Operating Margin | — | -24,270.7% | -1,147.6% | -905.0% | -224.3% | — | -142.1% |
| Interest Expense | — | $845.1K | $654.3K | $283.0K | $126.7K | $0 | — |
| Pretax Income | — | $-8.0M | $-30.0M | $-25.0M | $-14.9M | $-12.9M | $-5.8M |
| Income Tax Expense | — | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Income | — | $-8.0M | $-30.0M | $-25.0M | $-14.9M | $-12.9M | $-5.8M |
| Net Margin | — | -14,677.1% | -1,169.7% | -879.5% | -221.7% | — | -141.5% |
| EPS (Basic) | — | $-10.63 | $-15.48 | $-0.35 | $-0.21 | $-0.35 | $-0.75 |
| EPS (Diluted) | — | $-10.63 | $-15.48 | $-0.35 | $-0.21 | $-0.35 | $-0.75 |
| Shares Outstanding (Basic) | 6.7M | 2.1M | 1.9M | 71.9M | 71.6M | 37.5M | — |
| Shares Outstanding (Diluted) | 6.7M | 2.1M | 1.9M | 71.9M | 71.6M | 37.5M | — |
| Dividends Per Share | — | — | — | — | — | — | — |