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Sionna Therapeutics Inc. · Financials
Is this a real, growing, cash-generative business, or a story propped up by accounting?
Business enginePre-revenue: no positive revenue in any year through FY25, so the growth and margin read is withheld. Worth your attention in FY25: Capex step-up ($377.0K). Visible in the receipts below.
The four lines that matter · FY22–FY25
Revenue ($M)—
0.0
FY22→FY25CAGR —
Net income ($M)▼22.0%
−75.3
FY22→FY25CAGR —
Free cash flow ($M)▼26.2%
−66.7
capex stepped upCAGR —
Diluted EPS▲88.2%
−1.88
FY22→FY25CAGR —
What the receipts whisper · what a headline number hides
Share count
+0.0%
40.0mn → 40.0mn diluted shares since FY25. Broadly flat, so EPS moves with net income rather than with the share count.
Capex step-up
$377.0K
▲1296% YoY in FY25, largest jump in this window; watch free-cash-flow conversion.
What the income statement says · FY22–FY25
Where every revenue dollar goes · FY25 ($M)
Margin trend · direction beats level
This filer reports no gross profit or operating income line, so those margins are not drawn.
The receipt · income statement · FY22–FY25 USD millions except per-share & ratios · hover a line for its definition
| Line item | TTM † | FY25 | FY24 | FY23 | FY22 | YoY | CAGR 22→25 |
|---|---|---|---|---|---|---|---|
| Revenue & profitability | |||||||
Revenue | — | 0.0 | 0.0 | 0.0 | 0.0 | — | — |
Cost of revenue | — | 0.0 | 0.0 | 0.0 | 0.0 | — | — |
Gross profit | — | 0.0 | 0.0 | 0.0 | 0.0 | — | — |
Research & development | 72.0 | 60.3 | 57.3 | 40.6 | 34.6 | ▲5.2% | +20.3% |
Selling, general & admin | 37.4 | 28.7 | 13.3 | 9.7 | 6.8 | ▲116.5% | +61.9% |
Total operating expenses | 109.7 | 89.0 | 70.6 | 50.3 | 41.4 | ▲26.1% | +29.1% |
Operating incomefeeds ROC rank | −109.5 | −89.0 | −70.6 | −50.3 | −41.4 | ▼26.1% | — |
Other income, net | 11.9 | 13.3 | 8.9 | 3.1 | 1.1 | — | — |
Pretax income | −97.6 | −75.7 | −61.7 | −47.3 | −40.2 | ▼22.7% | — |
Income tax | — | — | — | 0.0 | 0.0 | — | — |
Net incomePiotroski ROA ✕feeds Buffett Quality owner earnings | −97.4 | −75.3 | −61.7 | −47.3 | −40.2 | ▼22.0% | — |
| Per share | |||||||
Diluted EPSbuyback-sensitive | −2.11 | −1.88 | −15.99 | −1.07 | −0.91 | ▲88.2% | — |
Diluted shares (mn) | 45.15 | 39.96 | 3.86 | 44.12 | 44.12 | ▲935.6% | −3.2% |
| Margins | |||||||
† TTM = trailing four quarters through 2026-06-30.
These lines feed the tenet checklists: see which gates passTenets →Margins & returns continue as sector-ranked ratiosStatistics →
Annual report filed 2026-03-02 · view filings on SEC EDGAR ↗ · reported currency USD · as-filed figures may be later restated.
Statements normalized in our fundamentals DB · Not investment advice.
Statements normalized in our fundamentals DB · Not investment advice.
Annual and quarterly statements as filed, normalized into one comparable shape · Not investment advice.