Axsome Therapeutics, Inc.

EDGAR

Annual consolidated revenue for 2025: about USD 638.5M, using the latest reported figures. The previous period, 2024, was about USD 385.7M.

Watchlist

Latest quarter

Revenue

218 million USD

2026 Q2 · USD

Exact inputs and evidence

Operating margin

-22.73%

2026 Q2 · %

Exact inputs and evidence
  • Operating Income: -49646000 USD Source
  • Revenue: 218375000 USD Source

Operating cash flow

-33 million USD

2026 Q2 · USD

Exact inputs and evidence
  • Operating Cash Flow: -53652000 USD Source
  • Operating Cash Flow: -20700000 USD Source

Free cash flow

-33.4 million USD

2026 Q2 · USD

Exact inputs and evidence
  • Operating Cash Flow: -53652000 USD Source
  • Operating Cash Flow: -20700000 USD Source
  • Capital Expenditure: 571000 USD Source
  • Capital Expenditure: 121000 USD Source
Cash and cash equivalents
320 million USD Source
Exact value

319850000 USD

Long-term debt including current maturities
Not available
Shares outstanding
52.3 million shares Source
Exact value

52299889 shares

Reported share-count change

4.99% · 2.48 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
  • 49815301 shares · 2025-06-30· Source
  • 52299889 shares · 2026-06-30· 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

777 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Revenue: 170992000 USD · 2025-07-01 – 2025-09-30 Source
  • Revenue: 638496000 USD · 2025-01-01 – 2025-12-31 Source
  • Revenue: 442497000 USD · 2025-01-01 – 2025-09-30 Source
  • Revenue: 191203000 USD · 2026-01-01 – 2026-03-31 Source
  • Revenue: 218375000 USD · 2026-04-01 – 2026-06-30 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: 2026-08-10.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 4 of 11 periods available· newest 2025-12-31
  • Operating income: 8 of 11 periods available· newest 2025-12-31
  • Net income: 8 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 8 of 11 periods available· newest 2025-12-31
  • Capital expenditure: 8 of 11 periods available· newest 2025-12-31
  • Total assets: 4 of 11 periods available· newest 2025-12-31
  • Total liabilities: 4 of 11 periods available· newest 2025-12-31
  • Current assets: 4 of 11 periods available· newest 2025-12-31
  • Current liabilities: 4 of 11 periods available· newest 2025-12-31
  • Cash and cash equivalents: 4 of 11 periods available· newest 2025-12-31
  • long term debt: No compatible figures in this window
  • Shares outstanding: 4 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

    +65.5%

    Prior period

    USD 385.69 million

    –

    Current period

    USD 638.5 million

    –

    Exact inputs and evidence

    638496000 − 385693000 = 252803000 USD

    385693000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    638496000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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  • Net income

    +USD 104.04 million

    Prior period

    −USD 287.22 million

    –

    Current period

    −USD 183.17 million

    –

    Exact inputs and evidence

    -183174000 − -287216000 = 104042000 USD

    -287216000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    -183174000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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  • Operating cash flow

    +USD 35.01 million

    Prior period

    −USD 128.41 million

    –

    Current period

    −USD 93.41 million

    –

    Exact inputs and evidence

    -93405000 − -128410000 = 35005000 USD

    -128410000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    -93405000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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  • Capital expenditure

    +77.8%

    Prior period

    USD 270,000

    –

    Current period

    USD 480,000

    –

    Exact inputs and evidence

    480000 − 270000 = 210000 USD

    270000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    480000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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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 638.5 million 100% of revenue
  • Operating costs Derived USD 805.26 million 126% of revenue
  • Operating income −USD 166.76 million −26% of revenue
  • Tax, interest and other Derived USD 16.41 million 2.6% of revenue
  • Net income −USD 183.17 million −29% of revenue

Cash

  • Operating cash flow −USD 93.41 million −15% of revenue
  • Capital expenditure USD 480,000 0.1% of revenue
  • Free cash flow Derived −USD 93.89 million −15% of revenue

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2022 Operating loss: operating costs were 459% of revenue.
  • 2023 Operating loss: operating costs were 186% of revenue.
  • 2024 Operating loss: operating costs were 173% of revenue.
  • 2025 Operating loss: operating costs were 126% of revenue.
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2022 2022-01-01 – 2022-12-3150037000 229836000 Derived -179799000 7335000 Derived -187134000 -117213000 Derived
Source
2023 2023-01-01 – 2023-12-31270600000 502425000 Derived -231825000 7413000 Derived -239238000 -145662000 Derived
Source
2024 2024-01-01 – 2024-12-31385693000 666255000 Derived -280562000 6654000 Derived -287216000 -128680000 Derived
Source
2025 2025-01-01 – 2025-12-31638496000 805258000 Derived -166762000 16412000 Derived -183174000 -93885000 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 638.5M 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.689.6M517.2M344.8M172.4M0.02022202320242025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2022Revenue50037000
2023Revenue270600000
2024Revenue385693000
2025Revenue638496000

Revenue growth

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

65.5% 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.476%357%238%119%0%2022202320242025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2022Year over yearNo prior comparable period
2023Year over year440.8%
2024Year over year42.5%
2025Year over year65.5%

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 -26.1% 2025
Net margin -28.7% 2025
Free cash flow margin -14.7% 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.30%-79%-187%-295%-404%2022202320242025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2022Operating margin-359.3%
2023Operating margin-85.7%
2024Operating margin-72.7%
2025Operating margin-26.1%
2022Net margin-374%
2023Net margin-88.4%
2024Net margin-74.5%
2025Net margin-28.7%
2022Free cash flow margin-234.3%
2023Free cash flow margin-53.8%
2024Free cash flow margin-33.4%
2025Free cash flow margin-14.7%

Operating cash flow

Cash generated by the company’s normal business operations.

USD -93.4M 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.11.6M-30.5M-72.5M-114.6M-156.7M2022202320242025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2022Operating cash flow-116511000
2023Operating cash flow-145080000
2024Operating cash flow-128410000
2025Operating cash flow-93405000

Free cash flow

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

USD -93.9M 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.11.7M-30.6M-72.8M-115.1M-157.3M2022202320242025
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2022Free cash flow-117213000
2023Free cash flow-145662000
2024Free cash flow-128680000
2025Free cash flow-93885000

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.

87.2% 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.97%73%49%24%0%2022202320242025
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2022Liabilities / assets66.9%
2023Liabilities / assets67.5%
2024Liabilities / assets90%
2025Liabilities / assets87.2%

Current assets to current liabilities

Current assets divided by current liabilities.

1.55× 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.3.92×2.94×1.96×0.98×0.00×2022202320242025
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2022Current assets / current liabilities2.54×
2023Current assets / current liabilities3.63×
2024Current assets / current liabilities2.11×
2025Current assets / current liabilities1.55×

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
2018 2018-01-01 – 2018-12-31
−USD 30.97 million
Exact value

Exact value: -30965464 USD

2018-01-01 – 2018-12-31: -30965464 USD Inspect Net Income Open source
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−USD 30.05 million
Exact value

Exact value: -30053701 USD

2018-01-01 – 2018-12-31: -30053701 USD Inspect Operating Cash Flow Open source
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USD 32,696
Exact value

Exact value: 32696 USD

2018-01-01 – 2018-12-31: 32696 USD Inspect Capital Expenditure Open source
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−USD 30.09 million
Calculation and evidence

-30053701 − 32696 USD

Exact free cash flow: -30086397 USD

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2019 2019-01-01 – 2019-12-31
−USD 68.35 million
Exact value

Exact value: -68345186 USD

2019-01-01 – 2019-12-31: -68345186 USD Inspect Net Income Open source
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−USD 46.38 million
Exact value

Exact value: -46375059 USD

2019-01-01 – 2019-12-31: -46375059 USD Inspect Operating Cash Flow Open source
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USD 16,121
Exact value

Exact value: 16121 USD

2019-01-01 – 2019-12-31: 16121 USD Inspect Capital Expenditure Open source
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−USD 46.39 million
Calculation and evidence

-46375059 − 16121 USD

Exact free cash flow: -46391180 USD

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2020 2020-01-01 – 2020-12-31
−USD 102.9 million
Exact value

Exact value: -102900600 USD

2020-01-01 – 2020-12-31: -102900600 USD Inspect Net Income Open source
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−USD 78.46 million
Exact value

Exact value: -78456569 USD

2020-01-01 – 2020-12-31: -78456569 USD Inspect Operating Cash Flow Open source
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USD 45,891
Exact value

Exact value: 45891 USD

2020-01-01 – 2020-12-31: 45891 USD Inspect Capital Expenditure Open source
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−USD 78.5 million
Calculation and evidence

-78456569 − 45891 USD

Exact free cash flow: -78502460 USD

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2021 2021-01-01 – 2021-12-31
−USD 130.4 million
Exact value

Exact value: -130403000 USD

2021-01-01 – 2021-12-31: -130403000 USD Inspect Net Income Open source
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−USD 108.23 million
Exact value

Exact value: -108226000 USD

2021-01-01 – 2021-12-31: -108226000 USD Inspect Operating Cash Flow Open source
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USD 308,000
Exact value

Exact value: 308000 USD

2021-01-01 – 2021-12-31: 308000 USD Inspect Capital Expenditure Open source
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−USD 108.53 million
Calculation and evidence

-108226000 − 308000 USD

Exact free cash flow: -108534000 USD

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2022 2022-01-01 – 2022-12-31
−USD 187.13 million
Exact value

Exact value: -187134000 USD

2022-01-01 – 2022-12-31: -187134000 USD Inspect Net Income Open source
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−USD 116.51 million
Exact value

Exact value: -116511000 USD

2022-01-01 – 2022-12-31: -116511000 USD Inspect Operating Cash Flow Open source
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USD 702,000
Exact value

Exact value: 702000 USD

2022-01-01 – 2022-12-31: 702000 USD Inspect Capital Expenditure Open source
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−USD 117.21 million
Calculation and evidence

-116511000 − 702000 USD

Exact free cash flow: -117213000 USD

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2023 2023-01-01 – 2023-12-31
−USD 239.24 million
Exact value

Exact value: -239238000 USD

2023-01-01 – 2023-12-31: -239238000 USD Inspect Net Income Open source
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−USD 145.08 million
Exact value

Exact value: -145080000 USD

2023-01-01 – 2023-12-31: -145080000 USD Inspect Operating Cash Flow Open source
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USD 582,000
Exact value

Exact value: 582000 USD

2023-01-01 – 2023-12-31: 582000 USD Inspect Capital Expenditure Open source
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−USD 145.66 million
Calculation and evidence

-145080000 − 582000 USD

Exact free cash flow: -145662000 USD

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2024 2024-01-01 – 2024-12-31
−USD 287.22 million
Exact value

Exact value: -287216000 USD

2024-01-01 – 2024-12-31: -287216000 USD Inspect Net Income Open source
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−USD 128.41 million
Exact value

Exact value: -128410000 USD

2024-01-01 – 2024-12-31: -128410000 USD Inspect Operating Cash Flow Open source
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USD 270,000
Exact value

Exact value: 270000 USD

2024-01-01 – 2024-12-31: 270000 USD Inspect Capital Expenditure Open source
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−USD 128.68 million
Calculation and evidence

-128410000 − 270000 USD

Exact free cash flow: -128680000 USD

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2025 2025-01-01 – 2025-12-31
−USD 183.17 million
Exact value

Exact value: -183174000 USD

2025-01-01 – 2025-12-31: -183174000 USD Inspect Net Income Open source
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−USD 93.41 million
Exact value

Exact value: -93405000 USD

2025-01-01 – 2025-12-31: -93405000 USD Inspect Operating Cash Flow Open source
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USD 480,000
Exact value

Exact value: 480000 USD

2025-01-01 – 2025-12-31: 480000 USD Inspect Capital Expenditure Open source
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−USD 93.89 million
Calculation and evidence

-93405000 − 480000 USD

Exact free cash flow: -93885000 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.

90 filings · 2,607 latest values · 2,607 originally reported values

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

Identifiers: 0001579428, 1579428, AXSM, edgar:1579428

Also known as AXSOME THERAPEUTICS, INC., Axsome Therapeutics, Inc.