Aardvark Therapeutics, Inc. (NASDAQ:AARD)
Insiders filed in the last 90 days, but none of those trades qualified for scoring — round-trip buys and filings whose price is far off the market are excluded.
No revenue reported, so there is no margin to score.
- Revenue
- $0
- Net income
- -$69.9M
- Net margin
- —
Little or no net debt.
- Total debt
- $677K
- Cash
- $73.8M
- Debt / equity
- 0.01
Comfortably covers what is due within a year.
- Current assets
- $80.7M
- Current liabilities
- $6.4M
- Current ratio
- 12.63
Consumes cash and must keep raising it.
- Operating cash flow
- -$69.4M
- Free cash flow
- -$69.4M
Some dilution over the past year.
- Shares outstanding
- 21.8M
- Share growth (1y)
- 0.7%
- Cash runway
- 13 months
Five pillars — profitability, leverage, liquidity, cash generation, dilution & runway — each scored 0–20 from the company’s own income statement, balance sheet and cash-flow statement, then scaled to 100. A pillar the statements cannot answer is left out rather than guessed; fewer than three and no score is shown.
AARD Income Statement
| Fiscal Period | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|
| Period Ending | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 |
| Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Revenue Growth (YoY) | — | — | — | — | — | — |
| Cost of Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A Expense | 4.63 M | 5.90 M | 4.41 M | 3.97 M | 2.70 M | 2.71 M |
| R&D Expense | 10.46 M | 16.57 M | 14.30 M | 13.74 M | 13.14 M | 7.75 M |
| Operating Expenses | 15.08 M | 22.46 M | 18.70 M | 17.70 M | 15.85 M | 10.47 M |
| Operating Income | -15.08 M | -22.46 M | -18.70 M | -17.70 M | -15.85 M | -10.47 M |
| Pretax Income | -14.39 M | -21.59 M | -17.60 M | -16.32 M | -14.37 M | -9.31 M |
| Tax Provision | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Income | -14.39 M | -21.59 M | -17.60 M | -16.32 M | -14.37 M | -9.31 M |
| EPS (Basic) | -0.66 | -0.99 | -0.81 | -0.75 | -0.66 | -0.43 |
| EPS (Diluted) | -0.66 | -0.99 | -0.81 | -0.75 | -0.66 | -0.43 |
| Shares Outstanding | 21.85 M | 21.82 M | 21.82 M | 21.75 M | 21.69 M | 21.69 M |
Quarterly figures; YoY compares the same fiscal quarter a year earlier. Source: public market data.