APGE financial statements

The full income statement, balance sheet, and cash-flow statement for Apogee Therapeutics Inc. (APGE), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-06 56.7M2024-09 56.9M2024-12 58.1M2025-03 58.3M2025-06 58.6M2025-09 59.3M2025-12 68.4M2026-03 75.4M2026-06 75.7M+33.5% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23
	286M YoY+31.7%	217M YoY+133.2%	93.0M
Research & development	215M YoY+27.9%	168M YoY+145.3%	68.4M
Selling, general & administrative	70.9M YoY+44.6%	49.0M YoY+99.4%	24.6M
General & administrative	70.9M YoY+44.6%	49.0M YoY+99.4%	24.6M
Operating income	-286M YoY-31.7%	-217M YoY-133.2%	-93.0M
Interest & investment income	30.0M YoY-13.6%	34.7M YoY+285.3%	9.02M
Other non-operating income	30.0M YoY-13.6%	34.7M YoY+285.3%	9.02M
Pre-tax income	-256M YoY-40.3%	-182M YoY-116.9%	-84.0M
Income tax	278K YoY+1444.4%	18.0K	0.00
	-256M YoY-40.5%	-182M YoY-116.9%	-84.0M
Net income to common	-256M YoY-40.5%	-182M	—
	-$4.22 YoY-27.9%	-$3.30	—
EPS (basic)	-$4.22 YoY-27.9%	-$3.30	—
	60.7M YoY+10.0%	55.2M YoY+120.7%	25.0M
	60.7M YoY+10.0%	55.2M YoY+120.7%	25.0M
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23
	741M YoY+40.0%	530M YoY+33.0%	398M
Cash & equivalents	132M YoY-7.2%	142M YoY+19.8%	118M
Short-term investments	599M YoY+58.0%	379M YoY+36.7%	277M
Prepaid expenses	11.2M YoY+23.2%	9.06M YoY+207.1%	2.95M
Other current assets	605K YoY-65.3%	1.74M YoY+43.5%	1.21M
	937M YoY+24.3%	754M YoY+87.8%	401M
Property, plant & equipment	5.69M YoY+190.4%	1.96M YoY+419.6%	377K
Operating lease right-of-use	8.69M YoY-23.6%	11.4M YoY+412.6%	2.22M
Long-term investments	173M YoY-17.9%	210M	—
Other non-current assets	8.67M YoY+1641.2%	498K YoY+24.2%	401K
	27.9M YoY-2.3%	28.6M YoY+38.9%	20.6M
Accounts payable	1.22M YoY+14.0%	1.07M YoY-50.0%	2.14M
Accrued liabilities	23.2M YoY-4.4%	24.3M YoY+40.1%	17.3M
Current lease liability	3.50M YoY+8.3%	3.23M YoY+193.7%	1.10M
	33.3M YoY-10.5%	37.2M YoY+72.9%	21.5M
Non-current lease liability	5.34M YoY-37.8%	8.60M YoY+821.4%	933K
Operating lease liability (total)	8.85M YoY-25.2%	11.8M YoY+491.5%	2.00M
Common stock	1.00K YoY+0.0%	1.00K	—
Additional paid-in capital	1.46B YoY+43.3%	1.02B YoY+103.0%	503M
Retained earnings	-562M YoY-83.6%	-306M YoY-147.2%	-124M
Accumulated other comprehensive income	1.08M YoY+18.0%	915K YoY+178.1%	329K
Total liabilities & equity	937M YoY+24.3%	754M YoY+87.8%	401M
	69.0M YoY+16.1%	59.5M YoY+17.4%	50.7M
	68.4M YoY+17.8%	58.1M YoY+20.1%	48.3M
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23
	-227M YoY-32.9%	-171M YoY-129.0%	-74.8M
Depreciation & amortization	1.42M YoY+650.3%	189K	—
Share-based compensation	46.3M YoY+98.3%	23.3M YoY+282.3%	6.10M
Change in payables	150K YoY+114.0%	-1.07M YoY-166.5%	1.61M
	-180M YoY+40.2%	-300M YoY-9.7%	-274M
Capital expenditure	5.15M YoY+346.8%	1.15M YoY+589.8%	167K
Free cash flow	-233M YoY-35.0%	-172M YoY-130.0%	-74.9M
Acquisitions	0.00	0.00	0.00
	396M YoY-19.9%	495M YoY+57.0%	315M
Long-term debt issued	0.00	0.00	0.00
Long-term debt repaid	0.00	0.00	0.00
Common stock issued	0.00 YoY-100.0%	450M YoY+42.7%	315M
Common stock repurchased	0.00	0.00	0.00
Dividends paid	0.00	0.00	0.00
Net change in cash	-10.5M YoY-144.9%	23.5M YoY+170.5%	-33.3M
Income taxes paid	—	360K	—
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23
Market cap	5.16B YoY+96.3%	2.63B YoY+96.1%	1.34B
Source filing	10-K	10-K	10-K

About this data

Source: APGE's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all APGE filings on SEC EDGAR → Not investment advice.