Eton Pharmaceuticals, Inc. (ETON) Financial Statements
Industry: Pharmaceutical Preparations
In fiscal 2025, Eton Pharmaceuticals reported revenue of $80.0M, up 104.9% from $39.0M the year before. Net income was -$4.6M (a -5.8% net margin). Gross margin was 53.5% and operating margin was -1.1%. Operating activities generated $10.5M of cash, leaving $10.2M of free cash flow. At fiscal year end, Eton Pharmaceuticals held $92.1M in total assets against $66.0M in total liabilities, including $25.9M of cash and equivalents.
Open the full interactive Eton Pharmaceuticals financials → Quarterly statements, key ratios, valuation history and price charts.
Eton Pharmaceuticals Key Stats
| Share Price | $53.33 |
|---|---|
| Market Cap | $1.75B |
| Revenue YoY Growth | +104.9% |
| 52-Week Range | $14.35 – $64.43 |
| Shares Outstanding | 27.6 million (basic, 2026 Q2) |
Eton Pharmaceuticals Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $39,000 | $21.8M | $21.3M | $31.6M | $39.0M | $80.0M |
| Cost of Goods Sold | $286,000 | — | $6.9M | $10.6M | $15.6M | $37.2M |
| Gross Profit | -$247,000 | $19.2M | $14.3M | $21.1M | $23.4M | $42.7M |
| Operating Income | -$27.1M | -$1.5M | -$8.3M | -$1.2M | -$2.6M | -$844,000 |
| Pre-Tax Income | -$28.0M | -$2.0M | -$9.0M | -$689,000 | -$3.8M | -$4.6M |
| Income Tax | — | — | — | $247,000 | $15,000 | $43,000 |
| Net Income | -$28.0M | -$2.0M | -$9.0M | -$936,000 | -$3.8M | -$4.6M |
| Diluted EPS | -$1.33 | -$0.08 | — | — | — | — |
Eton Pharmaceuticals Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $22.5M | $21.3M | $24.3M | $37.6M |
| Net Income | -$1.9M | $1.5M | $1.6M | $11.6M |
| Diluted EPS | -$0.07 | — | $0.05 | $0.35 |
Eton Pharmaceuticals Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $21.3M | $14.4M | $16.3M | $21.4M | $14.9M | $25.9M |
| Current Assets | $24.7M | $23.6M | $20.0M | $26.8M | $41.0M | $60.6M |
| Total Assets | $26.3M | $27.5M | $25.0M | $31.7M | $76.1M | $92.1M |
| Current Liabilities | $3.8M | $4.6M | $6.5M | $16.2M | $19.9M | $38.5M |
| Total Long-Term Debt | $6.5M | $5.3M | $5.4M | $6.5M | $29.8M | $30.6M |
| Total Liabilities | $10.7M | $9.8M | $12.0M | $16.3M | $51.7M | $66.0M |
| Shareholders' Equity | $15.7M | $17.6M | $13.1M | $15.5M | $24.4M | $26.2M |
Eton Pharmaceuticals Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$22.3M | -$4.7M | $4.8M | $6.8M | $969,000 | $10.5M |
| Cash From Investing | -$50,000 | -$2.6M | -$2.8M | -$775,000 | -$40.0M | -$333,000 |
| Cash From Financing | $31.6M | $391,000 | -$134,000 | -$957,000 | $32.6M | $815,000 |
| Free Cash Flow | -$22.4M | -$4.7M | $4.8M | $6.8M | $943,000 | $10.2M |
Figures from Eton Pharmaceuticals' 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 Eton Pharmaceuticals financials page for every line item.
Eton Pharmaceuticals Company Profile
| Ticker | ETON |
|---|---|
| Exchange | Nasdaq |
| Industry | Pharmaceutical Preparations |
| Headquarters | Deer Park, Illinois |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Non-accelerated filer, smaller reporting company |
| SEC CIK | 0001710340 |
Frequently Asked Questions
What was Eton Pharmaceuticals' revenue in fiscal 2025?
Eton Pharmaceuticals (ETON) reported revenue of $80.0M for fiscal 2025.
What is Eton Pharmaceuticals' annual revenue history?
Eton Pharmaceuticals' annual revenue by fiscal year: 2020: $39,000; 2021: $21.8M; 2022: $21.3M; 2023: $31.6M; 2024: $39.0M; 2025: $80.0M.
What was Eton Pharmaceuticals' net income in fiscal 2025?
Eton Pharmaceuticals reported net income of -$4.6M for fiscal 2025.
How much free cash flow did Eton Pharmaceuticals generate in fiscal 2025?
Eton Pharmaceuticals generated $10.2M of free cash flow in fiscal 2025.
What was Eton Pharmaceuticals' revenue last quarter?
In its most recent reported quarter (2026 Q2), Eton Pharmaceuticals reported revenue of $37.6M.
How much debt does Eton Pharmaceuticals have?
Eton Pharmaceuticals reported $30.6M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Eton Pharmaceuticals are outstanding?
Eton Pharmaceuticals reported a weighted average of 27.6 million basic shares outstanding in 2026 Q2.
What is Eton Pharmaceuticals' market cap?
Based on its latest closing price, Eton Pharmaceuticals (ETON) has a market capitalization of about $1.75B.
When does Eton Pharmaceuticals' fiscal year end?
Eton Pharmaceuticals' fiscal year end, as registered with the SEC, is December 31.
Where is Eton Pharmaceuticals headquartered?
Eton Pharmaceuticals lists its business address in Deer Park, Illinois in its SEC filings.