VIR Vir Biotechnology, Inc.

Overview and Growth

Vir Biotechnology, Inc. generated $68.56M of revenue in fiscal 2025, with net loss of $437.99M and an operating cash outflow of $391.78M. Revenue of $68.56M sets the scale for evaluating how effectively sales translated into profit and cash during the year. The top line contracted 7.6% from $74.20M in fiscal 2024; this top-line contraction left the company with a smaller revenue base. Diluted earnings per share were -$3.16, translating the period’s attributable earnings into the amount reported for each diluted share. At period end, total assets were $1.00B, framing the scale of the company’s operating and financing commitments. Revenue equaled 0.07x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

After reported cost of revenue, the company retained $68.53M as gross profit before recognizing operating expenses and other items. The gross-profit relationship equaled 100.0% of revenue, quantifying the portion retained before operating expenses were recognized. The reported operating result was an operating loss of $479.33M, reflecting costs that exceeded gross profit. Relative to revenue, the operating deficit measured 699.2%, showing the shortfall after operating costs. The bottom-line result was a net loss of $437.99M after operating, financing, tax, and other recognized items. Net margin was -638.9%, reflecting a loss equal to 638.9% of reported revenue. The company reported negative EBITDA of $467.65M, adding a pre-interest, tax, depreciation, and amortization view of the operating shortfall. The pretax result was a loss of $437.77M, establishing the deficit before tax effects. Measured against revenue, the pretax deficit represented 638.6%. Income tax expense totaled $217.00K, providing the reported tax component that separates pretax and after-tax earnings. The net loss equaled 57.2% of period-end equity, showing the deficit relative to book capital. The loss-to-assets relationship was 43.7%, placing the bottom-line deficit against the company’s resource base. Compared with a $521.96M net loss in fiscal 2024, the current loss improved to $437.99M.

Liquidity and Capital Structure

Total assets were $1.00B, supported by $237.55M of liabilities and $765.28M of shareholder equity. At period end, current assets of $514.08M compared with current liabilities of $92.81M, defining the company’s short-term resource position. Current assets covered current liabilities by 5.54x, leaving a positive buffer for near-term obligations. The company held $232.19M in cash and equivalents, a narrower liquidity measure than total current assets. The cash balance equaled 250.2% of current liabilities, showing how much near-term coverage came from cash alone. Book equity represented 76.3% of total assets, quantifying the balance-sheet share supported by shareholder capital. Liabilities represented 23.7% of total assets, quantifying the liability-funded share of the company’s resource base. Cash and equivalents equaled 23.2% of total assets, showing the liquid cash component within the company’s broader resource base. Compared with $1.40B in fiscal 2024, the current asset base moved 28.3% and finished lower. Against $1.15B of equity in fiscal 2024, the current book-equity balance moved 33.5% and ended lower. Compared with $222.95M in fiscal 2024, the current cash balance moved 4.1% and finished higher.

Cash Flow and Earnings Quality

Cash flow from operations was an outflow of $391.78M, showing that operations absorbed cash during the period. Capital spending of $4.83M added to the period’s operating cash use, reinforcing the overall cash deficit after investment for the year. Negative free cash flow was $396.61M, leaving a cash deficit after capital spending and reducing financial flexibility. The free-cash-flow deficit equaled 578.5% of revenue, showing the post-investment cash shortfall relative to sales. The free-cash-flow deficit equaled 39.5% of total assets, placing the cash shortfall against the company’s resource base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.