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Apellis Pharmaceuticals, Inc.

EDGAR
APLS Quarterly report (10-Q) · filed 2026-05-07

Annual consolidated revenue for 2025: about USD 1.004B, using the latest reported figures. The previous period, 2024, was about USD 781.4M.

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Watchlist

Latest quarter

Revenue

268 million USD

2026 Q1 · USD

Exact inputs and evidence

Operating margin

9.86%

2026 Q1 · %

Exact inputs and evidence
  • Operating Income: 26467000 USD Source
  • Revenue: 268295000 USD Source

Operating cash flow

-61 million USD

2026 Q1 · USD

Exact inputs and evidence
  • Operating Cash Flow: -60966000 USD Source
Cash and cash equivalents
405 million USD Source
Exact value

405200000 USD

Long-term debt including current maturities
93.1 million USD Source
Exact value

93109000 USD

Shares outstanding
128 million shares Source
Exact value

127923000 shares

Reported share-count change

1.80% · 2.26 million shares

Year-over-year change in reported shares. Splits, issuance and buybacks can affect this figure; it does not isolate employee compensation or economic dilution.

Exact inputs and evidence
  • 125661000 shares · 2025-03-31· Source
  • 127923000 shares · 2026-03-31· Source

Trailing twelve months

The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.

Revenue

1.11 billion USD

2025-04-01 – 2026-03-31

Exact inputs and evidence
  • Revenue: 178494000 USD · 2025-04-01 – 2025-06-30 Source
  • Revenue: 458578000 USD · 2025-07-01 – 2025-09-30 Source
  • Revenue: 1003782000 USD · 2025-01-01 – 2025-12-31 Source
  • Revenue: 803869000 USD · 2025-01-01 – 2025-09-30 Source
  • Revenue: 268295000 USD · 2026-01-01 – 2026-03-31 Source

Net income

133 million USD

2025-04-01 – 2026-03-31

Exact inputs and evidence
  • Net income: -42151000 USD · 2025-04-01 – 2025-06-30 Source
  • Net income: 215715000 USD · 2025-07-01 – 2025-09-30 Source
  • Net income: 22388000 USD · 2025-01-01 – 2025-12-31 Source
  • Net income: 81339000 USD · 2025-01-01 – 2025-09-30 Source
  • Net income: 18656000 USD · 2026-01-01 – 2026-03-31 Source

Operating cash flow

37.8 million USD

2025-04-01 – 2026-03-31

Exact inputs and evidence
  • Operating cash flow: -48965000 USD · 2025-01-01 – 2025-06-30 Source
  • Operating cash flow: -53410000 USD · 2025-01-01 – 2025-03-31 Source
  • Operating cash flow: 59503000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: -48965000 USD · 2025-01-01 – 2025-06-30 Source
  • Operating cash flow: 45327000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: 59503000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: -60966000 USD · 2026-01-01 – 2026-03-31 Source

Capital expenditure

313 thousand USD

2025-01-01 – 2025-12-31

Exact inputs and evidence
  • Capital expenditure: 8000 USD · 2025-01-01 – 2025-03-31 Source
  • Capital expenditure: 57000 USD · 2025-01-01 – 2025-06-30 Source
  • Capital expenditure: 8000 USD · 2025-01-01 – 2025-03-31 Source
  • Capital expenditure: 205000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 57000 USD · 2025-01-01 – 2025-06-30 Source
  • Capital expenditure: 313000 USD · 2025-01-01 – 2025-12-31 Source
  • Capital expenditure: 205000 USD · 2025-01-01 – 2025-09-30 Source

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-05-07.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 6 of 11 periods available· newest 2025-12-31
  • Operating income: 11 of 11 periods available· newest 2025-12-31
  • Net income: 11 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 11 of 11 periods available· newest 2025-12-31
  • Capital expenditure: 7 of 11 periods available· newest 2025-12-31
  • Total assets: 6 of 11 periods available· newest 2025-12-31
  • Total liabilities: 6 of 11 periods available· newest 2025-12-31
  • Current assets: 6 of 11 periods available· newest 2025-12-31
  • Current liabilities: 6 of 11 periods available· newest 2025-12-31
  • Cash and cash equivalents: 6 of 11 periods available· newest 2025-12-31
  • Long-term debt including current maturities: 2 of 11 periods available· newest 2023-12-31
  • Shares outstanding: 6 of 11 periods available· newest 2025-12-31

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    +28.5%

    Prior period

    USD 781.37 million

    –

    Current period

    USD 1 billion

    –

    Exact inputs and evidence

    1003782000 − 781367000 = 222415000 USD

    781367000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    1003782000 USD · 2025-01-01 – 2025-12-31

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  • Net income

    +USD 220.27 million

    Prior period

    −USD 197.88 million

    –

    Current period

    USD 22.39 million

    –

    Exact inputs and evidence

    22388000 − -197878000 = 220266000 USD

    -197878000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    22388000 USD · 2025-01-01 – 2025-12-31

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  • Operating cash flow

    +USD 133.19 million

    Prior period

    −USD 87.87 million

    –

    Current period

    USD 45.33 million

    –

    Exact inputs and evidence

    45327000 − -87866000 = 133193000 USD

    -87866000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    45327000 USD · 2025-01-01 – 2025-12-31

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  • Capital expenditure

    -22.3%

    Prior period

    USD 403,000

    –

    Current period

    USD 313,000

    –

    Exact inputs and evidence

    313000 − 403000 = -90000 USD

    403000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    313000 USD · 2025-01-01 – 2025-12-31

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Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue USD 1 billion 100% of revenue
  • Operating costs Derived USD 948.36 million 94% of revenue
  • Operating income USD 55.43 million 5.5% of revenue
  • Tax, interest and other Derived USD 33.04 million 3.3% of revenue
  • Net income USD 22.39 million 2.2% of revenue

Cash

  • Operating cash flow USD 45.33 million 4.5% of revenue
  • Capital expenditure USD 313,000 0% of revenue
  • Free cash flow Derived USD 45.01 million 4.5% of revenue

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2020 Operating loss: operating costs were 185% of revenue.
  • 2021 Operating loss: operating costs were 906% of revenue.
  • 2022 Operating loss: operating costs were 888% of revenue.
  • 2023 Operating loss: operating costs were 230% of revenue.
  • 2024 Operating loss: operating costs were 121% of revenue.
  • 2025 94%
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2020 2020-01-01 – 2020-12-31250646000 464372000 Derived -213726000 131148000 Derived -344874000 -165910000 Derived
Source
2021 2021-01-01 – 2021-12-3166563000 602840000 Derived -536277000 210077000 Derived -746354000 -564229000 Derived
Source
2022 2022-01-01 – 2022-12-3175422000 670035000 Derived -594613000 57559000 Derived -652172000 -515269000 Derived
Source
2023 2023-01-01 – 2023-12-31396591000 913712000 Derived -517121000 11507000 Derived -528628000 -595508000 Derived
Source
2024 2024-01-01 – 2024-12-31781367000 946346000 Derived -164979000 32899000 Derived -197878000 -88269000 Derived
Source
2025 2025-01-01 – 2025-12-311003782000 948355000 Derived 55427000 33039000 Derived 22388000 45014000 Derived
Source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 1B 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.1.1B813.1M542.0M271.0M0.0202020232025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2020Revenue250646000
2021Revenue66563000
2022Revenue75422000
2023Revenue396591000
2024Revenue781367000
2025Revenue1003782000

Revenue growth

Change in revenue from the same financial period one year earlier.

28.5% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.466%321%176%31%-113%202020232025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2020Year over yearNo prior comparable period
2021Year over year-73.4%
2022Year over year13.3%
2023Year over year425.8%
2024Year over year97%
2025Year over year28.5%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin 5.5% 2025
Net margin 2.2% 2025
Free cash flow margin 4.5% 2025
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.96%-231%-558%-885%-1,211%202020232025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2020Operating margin-85.3%
2021Operating margin-805.7%
2022Operating margin-788.4%
2023Operating margin-130.4%
2024Operating margin-21.1%
2025Operating margin5.5%
2020Net margin-137.6%
2021Net margin-1,121.3%
2022Net margin-864.7%
2023Net margin-133.3%
2024Net margin-25.3%
2025Net margin2.2%
2020Free cash flow margin-66.2%
2021Free cash flow margin-847.7%
2022Free cash flow margin-683.2%
2023Free cash flow margin-150.2%
2024Free cash flow margin-11.3%
2025Free cash flow margin4.5%

Operating cash flow

Cash generated by the company’s normal business operations.

USD 45.3M 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.96.5M-89.1M-274.7M-460.3M-645.9M202020232025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2020Operating cash flow-160488000
2021Operating cash flow-563126000
2022Operating cash flow-513745000
2023Operating cash flow-594735000
2024Operating cash flow-87866000
2025Operating cash flow45327000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

USD 45M 2025
Free cash flow historyOperating cash flow minus capital expenditure for the same period and unit. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.96.3M-89.5M-275.2M-461.0M-646.7M202020232025
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2020Free cash flow-165910000
2021Free cash flow-564229000
2022Free cash flow-515269000
2023Free cash flow-595508000
2024Free cash flow-88269000
2025Free cash flow45014000

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

65.6% 2025
Liabilities to assets historyTotal liabilities as a share of total assets. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.85%64%43%21%0%202020232025
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2020Liabilities / assets78.7%
2021Liabilities / assets77.5%
2022Liabilities / assets77.7%
2023Liabilities / assets75.3%
2024Liabilities / assets74.2%
2025Liabilities / assets65.6%

Current assets to current liabilities

Current assets divided by current liabilities.

3.14× 2025
Current assets to current liabilities historyCurrent assets divided by current liabilities. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.7.72×5.79×3.86×1.93×0.00×202020232025
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2020Current assets / current liabilities7.15×
2021Current assets / current liabilities6.25×
2022Current assets / current liabilities4.29×
2023Current assets / current liabilities3.1×
2024Current assets / current liabilities4.25×
2025Current assets / current liabilities3.14×

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2016 2016-01-01 – 2016-12-31
−USD 27.12 million
Exact value

Exact value: -27124637 USD

2016-01-01 – 2016-12-31: -27124637 USD Inspect Net Income Open source
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−USD 26 million
Exact value

Exact value: -26003078 USD

2016-01-01 – 2016-12-31: -26003078 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2017 2017-01-01 – 2017-12-31
−USD 51.01 million
Exact value

Exact value: -51006094 USD

2017-01-01 – 2017-12-31: -51006094 USD Inspect Net Income Open source
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−USD 46.6 million
Exact value

Exact value: -46595073 USD

2017-01-01 – 2017-12-31: -46595073 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2018 2018-01-01 – 2018-12-31
−USD 127.5 million
Exact value

Exact value: -127502000 USD

2018-01-01 – 2018-12-31: -127502000 USD Inspect Net Income Open source
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−USD 131.24 million
Exact value

Exact value: -131241000 USD

2018-01-01 – 2018-12-31: -131241000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2019 2019-01-01 – 2019-12-31
−USD 304.71 million
Exact value

Exact value: -304707000 USD

2019-01-01 – 2019-12-31: -304707000 USD Inspect Net Income Open source
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−USD 211.14 million
Exact value

Exact value: -211135000 USD

2019-01-01 – 2019-12-31: -211135000 USD Inspect Operating Cash Flow Open source
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USD 1.69 million
Exact value

Exact value: 1693000 USD

2019-01-01 – 2019-12-31: 1693000 USD Inspect Capital Expenditure Open source
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−USD 212.83 million
Calculation and evidence

-211135000 − 1693000 USD

Exact free cash flow: -212828000 USD

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2020 2020-01-01 – 2020-12-31
−USD 344.87 million
Exact value

Exact value: -344874000 USD

2020-01-01 – 2020-12-31: -344874000 USD Inspect Net Income Open source
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−USD 160.49 million
Exact value

Exact value: -160488000 USD

2020-01-01 – 2020-12-31: -160488000 USD Inspect Operating Cash Flow Open source
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USD 5.42 million
Exact value

Exact value: 5422000 USD

2020-01-01 – 2020-12-31: 5422000 USD Inspect Capital Expenditure Open source
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−USD 165.91 million
Calculation and evidence

-160488000 − 5422000 USD

Exact free cash flow: -165910000 USD

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2021 2021-01-01 – 2021-12-31
−USD 746.35 million
Exact value

Exact value: -746354000 USD

2021-01-01 – 2021-12-31: -746354000 USD Inspect Net Income Open source
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−USD 563.13 million
Exact value

Exact value: -563126000 USD

2021-01-01 – 2021-12-31: -563126000 USD Inspect Operating Cash Flow Open source
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USD 1.1 million
Exact value

Exact value: 1103000 USD

2021-01-01 – 2021-12-31: 1103000 USD Inspect Capital Expenditure Open source
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−USD 564.23 million
Calculation and evidence

-563126000 − 1103000 USD

Exact free cash flow: -564229000 USD

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2022 2022-01-01 – 2022-12-31
−USD 652.17 million
Exact value

Exact value: -652172000 USD

2022-01-01 – 2022-12-31: -652172000 USD Inspect Net Income Open source
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−USD 513.75 million
Exact value

Exact value: -513745000 USD

2022-01-01 – 2022-12-31: -513745000 USD Inspect Operating Cash Flow Open source
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USD 1.52 million
Exact value

Exact value: 1524000 USD

2022-01-01 – 2022-12-31: 1524000 USD Inspect Capital Expenditure Open source
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−USD 515.27 million
Calculation and evidence

-513745000 − 1524000 USD

Exact free cash flow: -515269000 USD

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2023 2023-01-01 – 2023-12-31
−USD 528.63 million
Exact value

Exact value: -528628000 USD

2023-01-01 – 2023-12-31: -528628000 USD Inspect Net Income Open source
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−USD 594.74 million
Exact value

Exact value: -594735000 USD

2023-01-01 – 2023-12-31: -594735000 USD Inspect Operating Cash Flow Open source
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USD 773,000
Exact value

Exact value: 773000 USD

2023-01-01 – 2023-12-31: 773000 USD Inspect Capital Expenditure Open source
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−USD 595.51 million
Calculation and evidence

-594735000 − 773000 USD

Exact free cash flow: -595508000 USD

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2024 2024-01-01 – 2024-12-31
−USD 197.88 million
Exact value

Exact value: -197878000 USD

2024-01-01 – 2024-12-31: -197878000 USD Inspect Net Income Open source
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−USD 87.87 million
Exact value

Exact value: -87866000 USD

2024-01-01 – 2024-12-31: -87866000 USD Inspect Operating Cash Flow Open source
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USD 403,000
Exact value

Exact value: 403000 USD

2024-01-01 – 2024-12-31: 403000 USD Inspect Capital Expenditure Open source
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−USD 88.27 million
Calculation and evidence

-87866000 − 403000 USD

Exact free cash flow: -88269000 USD

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2025 2025-01-01 – 2025-12-31
USD 22.39 million
Exact value

Exact value: 22388000 USD

2025-01-01 – 2025-12-31: 22388000 USD Inspect Net Income Open source
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USD 45.33 million
Exact value

Exact value: 45327000 USD

2025-01-01 – 2025-12-31: 45327000 USD Inspect Operating Cash Flow Open source
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USD 313,000
Exact value

Exact value: 313000 USD

2025-01-01 – 2025-12-31: 313000 USD Inspect Capital Expenditure Open source
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USD 45.01 million
Calculation and evidence

45327000 − 313000 USD

Exact free cash flow: 45014000 USD

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Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

100 filings · 2,417 latest values · 2,417 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0001492422, 1492422, APLS, edgar:1492422

Also known as APELLIS PHARMACEUTICALS, INC., APELLIS PHARMACEUTICALS, INC., Apellis Pharmaceuticals, Inc.