N/A Avidity Biosciences, Inc.

Overview and Growth

In fiscal 2025, Avidity Biosciences, Inc. recorded $18.75M of revenue, net loss of $684.63M, and an operating cash outflow of $650.44M. Revenue of $18.75M sets the scale for evaluating how effectively sales translated into profit and cash during the year. Compared with $10.90M in fiscal 2024, revenue recorded a 72.1% year-over-year increase. On a per-share basis, diluted EPS was -$4.97, which connects the reported earnings outcome with the company’s diluted share count. The diluted weighted-average share count was 137.71M, linking total earnings with the per-share result received by shareholders. The diluted share count was 23.4% higher than fiscal 2024, when diluted shares averaged 111.58M, adding context to the EPS comparison. Total assets stood at $1.96B, showing the scale of resources supporting revenue, earnings, liquidity, and financing. Revenue equaled 0.01x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

Operations produced a $745.94M operating loss before non-operating and tax effects. After all below-operating-line items, the company recorded a net loss of $684.63M for the fiscal year. The company reported negative EBITDA of $741.79M, adding a pre-interest, tax, depreciation, and amortization view of the operating shortfall. The pretax result was a loss of $684.63M, establishing the deficit before tax effects. The company recognized $0.00 of income tax for the period, completing the transition from pretax income to net income. Relative to period-end equity, the net loss represented 40.5%. The loss-to-assets relationship was 35.0%, placing the bottom-line deficit against the company’s resource base. Compared with a $322.30M net loss in fiscal 2024, the current loss increased to $684.63M.

Liquidity and Capital Structure

Total assets were $1.96B, supported by $269.45M of liabilities and $1.69B of shareholder equity. At period end, current assets of $1.80B compared with current liabilities of $195.45M, defining the company’s short-term resource position. Current assets covered current liabilities by 9.2x, leaving a positive buffer for near-term obligations. Reported cash and equivalents were $382.52M, separating immediately recognizable cash resources from the rest of the current-asset base. Cash and equivalents represented 195.7% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. Book equity represented 86.2% of total assets, quantifying the balance-sheet share supported by shareholder capital. Liabilities represented 13.8% of total assets, quantifying the liability-funded share of the company’s resource base. Measured against total assets, cash and equivalents represented 19.5%, a balance-sheet composition measure rather than a liquidity forecast. Total assets were 25.2% higher than fiscal 2024 assets of $1.56B, measuring the company’s own balance-sheet change. Against $1.42B of equity in fiscal 2024, the current book-equity balance moved 18.5% and ended higher. The reported cash balance changed 74.0% from $219.87M in fiscal 2024, ending higher year over year.

Cash Flow and Earnings Quality

Operating activities used $650.44M of cash, resulting in an operating cash outflow for the year. Capital expenditures used $13.32M in addition to the operating cash outflow, increasing the total cash consumed by operations and investment during the period. The company recorded a $663.76M cash deficit after capital spending for the period. Relative to total assets, the post-investment cash deficit measured 33.9%. The operating cash outflow widened to $650.44M from $300.87M in fiscal 2024.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.