ABSI Absci Corp

Overview and Growth

Absci Corp generated $2.80M of revenue in fiscal 2025, with net loss of $115.18M and an operating cash outflow of $92.92M. The $2.80M revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Revenue was 38.2% below fiscal 2024 revenue of $4.53M, marking a top-line contraction. Diluted earnings per share were -$0.84, translating the period’s attributable earnings into the amount reported for each diluted share. Diluted shares averaged 136.78M; this is the reported share base over which the company’s diluted per-share earnings were spread. Compared with 110.24M diluted shares in fiscal 2024, the current 136.78M base was 24.1% higher. Total assets stood at $216.30M, showing the scale of resources supporting revenue, earnings, liquidity, and financing. Asset turnover was 0.01x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

The company recorded an operating loss of $120.32M after the reported operating expense base. After all below-operating-line items, the company recorded a net loss of $115.18M for the fiscal year. Negative EBITDA totaled $108.58M, confirming that the earnings deficit remained before depreciation and amortization. The company reported a pretax loss of $115.11M, before the effect of income taxes. Income tax expense totaled $69.00K, providing the reported tax component that separates pretax and after-tax earnings. The loss-to-equity relationship was 60.8%, placing the bottom-line deficit against shareholder capital. The net loss equaled 53.3% of period-end assets, showing the deficit relative to the asset base. The net loss widened to $115.18M from $103.11M in fiscal 2024.

Liquidity and Capital Structure

At period end, the $216.30M asset base was financed through $26.85M of liabilities and $189.45M of equity. At period end, current assets of $149.57M compared with current liabilities of $22.77M, defining the company’s short-term resource position. At 6.57x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. The company held $20.02M in cash and equivalents, a narrower liquidity measure than total current assets. The cash balance equaled 88.0% of current liabilities, showing how much near-term coverage came from cash alone. Book equity represented 87.6% of total assets, quantifying the balance-sheet share supported by shareholder capital. Liabilities represented 12.4% of total assets, quantifying the liability-funded share of the company’s resource base. The cash-to-assets relationship was 9.3%, comparing reported cash and equivalents with the full positive asset balance. Compared with $213.61M in fiscal 2024, the current asset base moved 1.3% and finished higher. Against $179.13M of equity in fiscal 2024, the current book-equity balance moved 5.8% and ended higher. The reported cash balance changed 51.4% from $41.21M in fiscal 2024, ending lower year over year.

Cash Flow and Earnings Quality

Operating activities used $92.92M of cash, resulting in an operating cash outflow for the year. The company spent $1.11M on capital expenditures while operations also absorbed cash, so both ongoing activity and investment drew on liquidity during the period. The company recorded a $94.03M cash deficit after capital spending for the period. The cash deficit after capital spending represented 43.5% of the period-end asset base. Compared with a $72.40M operating cash outflow in fiscal 2024, the current outflow increased to $92.92M.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.