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Drug manufacturers · Healthcare · Fiscal year ends Dec 31
Viridian Therapeutics reported revenue of $71M in the fiscal year ended Dec 2025, up 23359.9% from the year before. Operating income was −$363M, an operating margin of −512.9%, and net income was −$343M. Operating cash flow of −$276M less capital expenditure of $495,000 left free cash flow of −$277M.
Ranks among the 78 drug manufacturers companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 3.0 | 1.8 | 0.3 | 0.3 | 70.8 |
| Research & development | 56.9 | 101 | 160 | 238 | 339 |
| Selling, general & admin | – | – | 95.0 | 61.1 | 95.3 |
| Operating income | −79.7 | −134 | −254 | −299 | −363 |
| Interest expense | 0.0 | 0.5 | 1.3 | 2.2 | 4.9 |
| Income tax | – | – | – | – | 0.0 |
| Net income | −79.4 | −130 | −238 | −270 | −343 |
| Diluted EPS | −6.66 | −4.05 | −5.31 | – | – |
| Diluted shares | 11.9 | 32.1 | 44.8 | – | – |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 42.3 | 156 | 103 | 99.6 | 212 |
| Current assets | 200 | 431 | 486 | 738 | 894 |
| Net PP&E | 0.4 | 1.3 | 1.7 | 1.2 | 1.2 |
| Total assets | 204 | 435 | 490 | 742 | 899 |
| Payables | 2.3 | 14.2 | 2.2 | 2.1 | 8.7 |
| Deferred revenue | 0.3 | 0.3 | 0.3 | 0.3 | 0.4 |
| Current liabilities | 13.6 | 33.3 | 26.6 | 47.9 | 70.7 |
| Short-term debt | – | – | 0.0 | 0.0 | – |
| Long-term debt | 0.0 | 4.6 | 20.2 | 20.6 | – |
| Total liabilities | 16.0 | 40.0 | 48.4 | 70.8 | 177 |
| Shareholders' equity | 188 | 395 | 442 | 672 | 722 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | −54.6 | −93.8 | −184 | −232 | −276 |
| Capital expenditure | 0.3 | 0.8 | 0.9 | 0.5 | 0.5 |
| Free cash flow | −54.9 | −94.6 | −185 | −233 | −277 |
| Depreciation & amortisation | 0.1 | 0.3 | 0.5 | 0.5 | 0.5 |
| Stock-based compensation | 14.5 | 19.8 | 67.2 | 42.2 | 44.3 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −40.2% | −82.3% | −3.8% | 23359.9% |
| Operating margin | −2690.8% | −7579.2% | −81035.0% | −99018.2% | −512.9% |
| Net margin | −2680.2% | −7329.2% | −75711.5% | −89387.1% | −483.6% |
| Return on equityBlank when equity is negative | −42.3% | −32.9% | −53.8% | −40.2% | −47.4% |
| ROCEEBIT ÷ (assets − current liabilities) | −41.9% | −33.4% | −54.9% | −43.1% | −43.9% |
| Free cash flow margin | −1853.5% | −5340.6% | −58938.9% | −77096.0% | −390.8% |
| Cash conversion (CFO ÷ net income) | 0.69x | 0.72x | 0.77x | 0.86x | 0.81x |
| Interest cover | −26576x | −269x | −191x | −136x | −73.4x |
| Debt ÷ equity | 0.00x | 0.01x | 0.05x | 0.03x | – |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | −42.3 | −151 | −82.6 | −79.0 | – |
| Current ratio | 14.7x | 12.9x | 18.3x | 15.4x | 12.6x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.