Candel Therapeutics, Inc. (CADL) Financial Statements
Industry: Biological Products, (No Diagnostic Substances)
In fiscal 2025, Candel Therapeutics reported revenue of $0. Net income was -$38.2M, or -$0.72 per diluted share. Operating activities generated -$38.3M of cash, leaving -$38.9M of free cash flow. At fiscal year end, Candel Therapeutics held $125.2M in total assets against $73.3M in total liabilities, including $119.7M of cash and equivalents.
Open the full interactive Candel Therapeutics financials → Quarterly statements, key ratios, valuation history and price charts.
Candel Therapeutics Key Stats
| Share Price | $9.27 |
|---|---|
| Market Cap | $687.2M |
| 52-Week Range | $4.42 – $13.75 |
| Shares Outstanding | 74.1 million (basic, 2026 Q2) |
Candel Therapeutics Income Statement
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $125,000 | $125,000 | $0 | $0 | $0 |
| Operating Income | -$25.7M | -$34.7M | -$38.4M | -$33.4M | -$48.3M |
| Pre-Tax Income | -$36.1M | -$18.8M | -$37.9M | -$55.2M | -$38.2M |
| Income Tax | — | $0 | $0 | $0 | $0 |
| Net Income | -$36.1M | -$18.8M | -$37.9M | -$55.2M | -$38.2M |
| Diluted EPS | -$1.91 | -$0.65 | -$1.31 | -$1.74 | -$0.72 |
Candel Therapeutics Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 |
| Net Income | -$11.3M | -$29.5M | -$8.9M | -$38.9M |
| Diluted EPS | -$0.21 | -$0.56 | -$0.14 | -$0.52 |
Candel Therapeutics Balance Sheet
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Cash & Equivalents | $82.6M | $70.1M | $35.4M | $102.7M | $119.7M |
| Current Assets | $84.9M | $71.9M | $36.8M | $103.8M | $121.4M |
| Total Assets | $89.2M | $77.7M | $41.2M | $106.9M | $125.2M |
| Current Liabilities | $5.4M | $5.6M | $14.2M | $37.5M | $9.0M |
| Total Long-Term Debt | $560,000 | $20.9M | $20.5M | $11.6M | $47.1M |
| Total Liabilities | $25.1M | $30.0M | $28.5M | $40.5M | $73.3M |
| Shareholders' Equity | $64.1M | $47.7M | $12.7M | $66.3M | $51.9M |
Candel Therapeutics Cash Flow Statement
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Cash From Operations | -$22.2M | -$31.4M | -$34.2M | -$27.0M | -$38.3M |
| Cash From Investing | -$1.8M | -$1.3M | -$280,000 | -$16,000 | -$560,000 |
| Cash From Financing | $71.8M | $20.0M | -$121,000 | $94.3M | $56.1M |
| Free Cash Flow | -$24.1M | -$32.7M | -$34.7M | -$27.0M | -$38.9M |
Figures from Candel Therapeutics' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Candel Therapeutics financials page for every line item.
Candel Therapeutics Company Profile
| Ticker | CADL |
|---|---|
| Exchange | Nasdaq |
| Industry | Biological Products, (No Diagnostic Substances) |
| Headquarters | Needham, Massachusetts |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Emerging growth company |
| SEC CIK | 0001841387 |
Frequently Asked Questions
What was Candel Therapeutics' revenue in fiscal 2025?
Candel Therapeutics (CADL) reported revenue of $0 for fiscal 2025.
What is Candel Therapeutics' annual revenue history?
Candel Therapeutics' annual revenue by fiscal year: 2021: $125,000; 2022: $125,000; 2023: $0; 2024: $0; 2025: $0.
What was Candel Therapeutics' net income in fiscal 2025?
Candel Therapeutics reported net income of -$38.2M for fiscal 2025.
What was Candel Therapeutics' earnings per share (EPS) in fiscal 2025?
Candel Therapeutics' diluted EPS was -$0.72 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Candel Therapeutics generate in fiscal 2025?
Candel Therapeutics generated -$38.9M of free cash flow in fiscal 2025.
What was Candel Therapeutics' revenue last quarter?
In its most recent reported quarter (2026 Q2), Candel Therapeutics reported revenue of $0.
How much debt does Candel Therapeutics have?
Candel Therapeutics reported $47.1M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Candel Therapeutics are outstanding?
Candel Therapeutics reported a weighted average of 74.1 million basic shares outstanding in 2026 Q2.
What is Candel Therapeutics' market cap?
Based on its latest closing price, Candel Therapeutics (CADL) has a market capitalization of about $687.2M.
When does Candel Therapeutics' fiscal year end?
Candel Therapeutics' fiscal year end, as registered with the SEC, is December 31.
Where is Candel Therapeutics headquartered?
Candel Therapeutics lists its business address in Needham, Massachusetts in its SEC filings.
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