X4 Pharmaceuticals, Inc. financials
Source: EDGAR filings · Built 2026-06-19T03:24:49Z
Custom taxonomy namespace:
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Key metrics by reporting period
Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.
Derived Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Free Cash Flow | -85.62M | -131.23M | -96.57M | -77.20M | -71.52M | -60.18M |
| EBITDA | -85.61M | -35.60M | -107.10M | -87.06M | -84.61M | -59.52M |
| Working Capital | 235.82M | 79.30M | 99.21M | 106.35M | 73.86M | 71.36M |
| Net Debt | -141.06M | 21.96M | -40.51M | -83.30M | -42.00M | -40.26M |
| Gross Margin | 83.60% | 68.83% | — | — | — | — |
| Operating Margin | -247.44% | -1423.58% | — | — | — | -1995.80% |
| Net Margin | -225.55% | -1464.61% | — | — | — | -2071.03% |
| Return on Equity (ROE) | -42.51% | -169.08% | -197.98% | -126.76% | -137.70% | -85.35% |
| Return on Assets (ROA) | -27.27% | -25.57% | -68.70% | -60.33% | -75.69% | -50.57% |
| Current Ratio | 10.16× | 3.41× | 5.34× | 5.76× | 6.27× | 6.97× |
| Debt-to-Equity | 0.41× | 3.51× | 1.15× | 0.52× | 0.62× | 0.53× |
| Effective Tax Rate | -0.05% | -0.83% | -0.08% | -0.03% | -0.02% | -0.24% |
| Cash Conversion Ratio | 1.08× | 3.50× | 0.95× | 0.82× | 0.80× | 0.95× |
| Accruals Ratio | 0.02× | 0.64× | -0.03× | -0.11× | -0.15× | -0.03× |
| SBC % of Revenue | 12.24% | 320.84% | — | — | — | 180.93% |
| CapEx Coverage | — | -401.54× | -1608.53× | -748.56× | -115.29× | -43.19× |
| Free Cash Flow Per Share | $-2.02 | $-19.58 | $-16.29 | $-1.22 | $-2.78 | $-3.00 |
Income Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 35.11M | 2.56M | 0 | 0 | 0 | 3.00M |
| Revenues | 6.50M | 2.60M | 0 | — | — | — |
| Cost of Revenue | 5.76M | 797.00K | 0 | 0 | — | — |
| Research and Development Expense | 72.72M | 81.64M | 72.02M | 61.06M | 50.65M | 41.93M |
| Operating Expenses | — | — | 107.52M | 87.57M | 85.11M | 62.87M |
| Operating Income (Loss) | -86.88M | -36.40M | -107.52M | -87.57M | -85.11M | -59.87M |
| Income Tax Expense (Benefit) | 41.00K | 310.00K | 78.00K | 28.00K | 17.00K | 148.00K |
| Net Income (Loss) Attributable to Parent | -79.20M | -37.45M | -101.17M | -93.87M | -88.70M | -62.13M |
| Earnings Per Share, Basic | $-1.87 | $-5.59 | $-17.07 | $-1.52 | $-3.99 | $-3.09 |
| Weighted Average Number of Shares Outstanding, Basic | 42.29M | 6.70M | 5.93M | 63.53M | 25.75M | 20.08M |
| Earnings Per Share, Diluted | $-1.87 | $-5.59 | $-17.07 | $-1.52 | $-3.99 | $-3.09 |
| Weighted Average Number of Shares Outstanding, Diluted | 42.29M | 6.70M | 5.93M | 63.53M | 25.75M | 20.08M |
Balance Sheet
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 217.05M | 55.70M | 99.22M | 121.72M | 81.79M | 78.71M |
| Assets, Current | 261.58M | 112.17M | 122.08M | 128.68M | 87.88M | 83.31M |
| Assets | 290.46M | 146.45M | 147.26M | 155.59M | 117.18M | 122.87M |
| Long-term Debt | 75.00M | 75.00M | 55.00M | 32.50M | 32.50M | 32.50M |
| Liabilities, Current | 25.76M | 32.88M | 22.86M | 22.32M | 14.02M | 11.95M |
| Long-term Debt, Excluding Current Maturities | — | — | 54.57M | 32.30M | 33.14M | 33.18M |
| Liabilities | 104.17M | 124.30M | 96.16M | 81.53M | 52.76M | 50.07M |
| Stockholders' Equity Attributable to Parent | 186.29M | 22.15M | 51.10M | 74.05M | 64.41M | 72.80M |
| Common Stock, Shares, Outstanding | 90.91M | 5.70M | 167.43M | 121.67M | 28.13M | 16.31M |
Cash Flow Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | -85.62M | -130.90M | -96.51M | -77.10M | -70.91M | -58.82M |
| Payments to Acquire Property, Plant, and Equipment | — | 326.00K | 60.00K | 103.00K | — | — |
| Net Cash Provided by (Used in) Investing Activities | 8.15M | 66.99M | -14.88M | -103.00K | -615.00K | -1.36M |
| Payments for Repurchase of Common Stock | — | — | 0 | 0 | 2.00M | 0 |
| Net Cash Provided by (Used in) Financing Activities | 238.63M | 20.29M | 88.52M | 117.23M | 74.25M | 12.39M |
Derived Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Free Cash Flow | — | -15.53M | -70.09M | -42.27M | -12.37M | -33.04M |
| EBITDA | -20.08M | -23.48M | — | — | -8.97M | -35.44M |
| Working Capital | 218.21M | 235.82M | 109.30M | 50.05M | 69.81M | 79.30M |
| Net Debt | -141.18M | -141.06M | 6.66M | 37.96M | 37.16M | 21.96M |
| Gross Margin | 77.92% | 85.83% | 80.11% | 83.48% | 83.63% | 78.94% |
| Operating Margin | -749.85% | -922.86% | -1558.58% | -1329.55% | -32.78% | -2490.59% |
| Net Margin | -747.45% | -931.66% | -1689.24% | -1304.66% | 0.98% | -2776.92% |
| Return on Equity (ROE) | -12.02% | -12.84% | -48.39% | -648.22% | 1.23% | -179.79% |
| Return on Assets (ROA) | -7.49% | -8.24% | -18.23% | -24.48% | 0.22% | -27.19% |
| Current Ratio | 10.18× | 10.16× | 5.65× | 3.19× | 3.70× | 3.41× |
| Debt-to-Equity | 0.45× | 0.41× | 1.24× | 19.44× | 3.37× | 3.51× |
| Effective Tax Rate | 0.00% | 0.00% | 0.10% | -0.14% | 10.76% | -0.65% |
| Cash Conversion Ratio | 0.97× | 0.65× | 2.35× | 1.64× | -43.86× | 0.83× |
| Accruals Ratio | -0.00× | -0.03× | 0.25× | 0.16× | 0.10× | -0.05× |
| SBC % of Revenue | 89.11% | 88.43% | 114.84% | 64.22% | 1.80% | 154.60% |
| CapEx Coverage | — | — | — | — | — | -804.76× |
| Free Cash Flow Per Share | — | $-0.37 | $-1.62 | $-5.70 | $-1.80 | $-4.93 |
Income Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 2.71M | 2.57M | 1.76M | 1.97M | 28.81M | 1.43M |
| Revenues | 2.50M | 2.20M | 1.57M | 1.74M | 900.00K | 1.50M |
| Cost of Revenue | 598.00K | 364.00K | 351.00K | 326.00K | 4.72M | 302.00K |
| Research and Development Expense | 15.45M | 18.52M | 17.34M | 18.35M | 18.51M | 21.70M |
| Operating Income (Loss) | -20.31M | -23.70M | -27.51M | -26.23M | -9.44M | -35.72M |
| Income Tax Expense (Benefit) | 0 | 0 | -30.00K | 37.00K | 34.00K | 258.00K |
| Net Income (Loss) Attributable to Parent | -20.24M | -23.93M | -29.82M | -25.74M | 282.00K | -39.82M |
| Earnings Per Share, Basic | $-0.16 | $1.00 | $-0.69 | $-3.47 | $0.04 | $-5.94 |
| Weighted Average Number of Shares Outstanding, Basic | 126.29M | 42.29M | 43.27M | 7.41M | 6.84M | 6.70M |
| Earnings Per Share, Diluted | $-0.16 | $1.00 | $-0.69 | $-3.47 | $0.04 | $-5.94 |
| Weighted Average Number of Shares Outstanding, Diluted | 126.29M | 42.29M | 43.27M | 7.41M | 6.87M | 6.70M |
Balance Sheet
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 216.91M | 217.05M | 69.63M | 39.22M | 40.26M | 55.70M |
| Assets, Current | 241.98M | 261.58M | 132.81M | 72.94M | 95.70M | 112.17M |
| Assets | 270.28M | 290.46M | 163.56M | 105.17M | 130.01M | 146.45M |
| Long-term Debt | 75.00M | 75.00M | 75.00M | 75.00M | 75.00M | 75.00M |
| Liabilities, Current | 23.77M | 25.76M | 23.51M | 22.90M | 25.88M | 32.88M |
| Liabilities | 101.83M | 104.17M | 101.94M | 101.20M | 107.07M | 124.30M |
| Stockholders' Equity Attributable to Parent | 168.45M | 186.29M | 61.62M | 3.97M | 22.94M | 22.15M |
| Common Stock, Shares, Outstanding | 94.32M | 90.91M | 25.15M | 7.96M | 5.79M | 5.70M |
Cash Flow Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | -19.60M | -15.53M | -70.09M | -42.27M | -12.37M | -32.99M |
| Net Cash Provided by (Used in) Investing Activities | 19.25M | 16.85M | -8.70M | 19.97M | -3.14M | -8.62M |
| Net Cash Provided by (Used in) Financing Activities | 2.00K | 146.09M | 92.54M | 5.63M | 0 | 135.00K |
Raw XBRL tagging for a single filing
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Methodology
All facts on this page come straight from SEC EDGAR XBRL
company-facts filings (XFOR CIK 0001501697),
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