Keros Therapeutics, Inc. income statement
In fiscal 2025, Keros Therapeutics, Inc. reported revenue of $244m, up 6769.4% on the year before, operating income of $67.6m (a 27.7% margin) and net income of $87.0m, or $2.30 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 10 | 0 | 20 | 0 | 0 | 4 | 244 | 15 |
| Research and development | 17 | 34 | 55 | 87 | 135 | 174 | 130 | 76 |
| General and administrative | 3 | 13 | 21 | 28 | 35 | 41 | 47 | 41 |
| Operating income | −11 | −47 | −56 | −115 | −170 | −211 | 68 | −101 |
| Interest expense | — | 0 | 0 | 0 | 0 | 0 | — | — |
| Income before tax | −12 | −46 | −57 | −105 | −153 | −187 | 92 | −86 |
| Income tax | 0 | −0 | 2 | 0 | 0 | 0 | 5 | −3 |
| Net income | −12 | −45 | −59 | −105 | −153 | −187 | 87 | −83 |
| Diluted EPS | −$6.08 | −$2.93 | −$2.52 | −$4.15 | −$5.20 | −$5.00 | $2.30 | −$3.05 |
| Diluted shares (average) | 2m | 16m | 23m | 25m | 29m | 37m | 38m | 27m |
| EBITDA | −10 | −46 | −56 | −114 | −169 | −210 | 69 | −100 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 3 | 211 | 18 | 14 | 0 | 0 | 0 |
| Research and development | 49 | 46 | 49 | 44 | 20 | 18 | 16 | 22 |
| General and administrative | 10 | 11 | 10 | 14 | 10 | 12 | 10 | 9 |
| Operating income | −59 | −53 | 152 | −40 | −15 | −29 | −26 | −31 |
| Income before tax | −53 | −46 | 158 | −33 | −9 | −25 | −24 | −29 |
| Income tax | 0 | 0 | 10 | −2 | −1 | −2 | 0 | 0 |
| Net income | −53 | −46 | 148 | −31 | −7 | −23 | −24 | −29 |
| Diluted EPS | −$1.41 | −$1.12 | $3.62 | −$0.76 | −$0.18 | −$0.38 | −$1.21 | −$1.45 |
| EBITDA | −58 | −53 | 152 | −39 | −15 | −29 | −25 | −31 |
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