CRDL

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Cardiol Therapeutics Inc.

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Key Metrics

Previous Close: $1.96
52-Week Range: $0.88 – $2.00
Market Cap: $220.21M
P/E (TTM): —
EPS (TTM): -0.25
Dividend Yield: —

Advanced Metrics

Price/Book: 12.63
PEG Ratio: —
Return on Equity: -190.18%
Return on Assets: -90.92%
Gross Margin: 0.00%
Operating Margin: 0.00%
Profit Margin: 0.00%
Current Ratio: 5.55
Debt/Equity: 0.00
Total Debt: $107.00K
Free Cash Flow: $-15.48M
Revenue Growth: —
Earnings Growth: —
Enterprise Value: $203.00M

CRDL Income statement, annual periods, in CAD
CAD	FY2022	FY2023	FY2024	FY2025
Revenue	$0.00	$0.00	$0.00	$0.00
Research & Development	$18.96M	$14.22M	$14.01M	$14.02M
Selling, General & Admin	$22.37M	$15.56M	$25.89M	$20.20M
Operating Expenses	$41.34M	$29.79M	$40.28M	$34.32M
Operating Income	-$41.34M	-$29.79M	-$40.28M	-$34.32M
EBITDA	-$41.12M	-$29.54M	-$39.90M	-$34.21M
Pretax Income	-$30.93M	-$28.13M	-$36.68M	-$33.82M
Net Income	-$30.93M	-$28.13M	-$36.68M	-$33.82M
Diluted EPS	-0.49	-0.44	-0.51	-0.39
Diluted Shares	62.51M	64.46M	71.57M	86.99M

CRDL Balance Sheet statement, annual periods, in CAD
CAD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$59.47M	$34.93M	$30.58M	$21.42M
Receivables	$480.20K	$279.87K	$361.62K	$226.19K
Current Assets	$61.44M	$36.15M	$31.67M	$23.50M
Total Assets	$62.03M	$36.70M	$31.86M	$23.62M
Current Liabilities	$9.80M	$8.30M	$7.01M	$5.66M
Total Debt	$72.87K	$174.34K	$158.53K	$125.52K
Total Liabilities	$9.83M	$8.45M	$7.14M	$5.74M
Retained Earnings	-$114.45M	-$142.58M	-$179.25M	-$213.07M
Shareholders' Equity	$52.20M	$28.25M	$24.73M	$17.88M
Working Capital	$51.63M	$27.86M	$24.66M	$17.85M

CRDL Cash Flow statement, annual periods, in CAD
CAD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$27.22M	-$25.18M	-$25.06M	-$23.85M
Capital Expenditure	-$74.71K	-$64.31K	-$21.29K	-$24.48K
Free Cash Flow	-$27.30M	-$25.24M	-$25.08M	-$23.88M
Depreciation & Amortisation	$219.91K	$248.35K	$373.11K	$101.98K
Stock-Based Compensation	$5.01M	$4.16M	$14.28M	$10.70M
Investing Cash Flow	-$74.71K	-$64.31K	-$21.29K	-$24.48K
Financing Cash Flow	-$53.93K	-$55.38K	$18.84M	$15.54M
Net Change in Cash	-$27.35M	-$25.30M	-$6.24M	-$8.34M

CRDL Income statement, quarterly periods, in CAD
CAD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$0.00	$0.00	$0.00	$0.00	$0.00
Research & Development	$3.76M	$2.73M	$4.79M	$2.74M	$4.95M
Selling, General & Admin	$4.65M	$4.92M	$5.37M	$5.26M	$4.73M
Operating Expenses	$8.43M	$7.68M	$10.18M	$8.03M	$9.71M
Operating Income	-$8.43M	-$7.68M	-$10.18M	-$8.03M	-$9.71M
EBITDA	-$8.40M	-$7.65M	-$10.15M	-$8.00M	-$9.68M
Pretax Income	-$8.29M	-$8.35M	-$9.96M	-$7.21M	-$10.82M
Net Income	-$8.29M	-$8.35M	-$9.96M	-$7.21M	-$10.82M
Diluted EPS	-0.10	-0.10	-0.12	—	-0.10
Diluted Shares	82.61M	82.65M	84.73M	—	108.99M

CRDL Balance Sheet statement, quarterly periods, in CAD
CAD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$23.29M	$18.20M	$11.62M	$21.42M	$27.67M
Receivables	$346.69K	$279.89K	$195.88K	$226.19K	$339.71K
Current Assets	$25.27M	$19.77M	$12.81M	$23.50M	$31.27M
Total Assets	$25.45M	$19.94M	$12.95M	$23.62M	$31.41M
Current Liabilities	$7.75M	$8.02M	$3.29M	$5.66M	$7.13M
Total Debt	$150.66K	$142.55K	$134.20K	$125.52K	$116.41K
Total Liabilities	$7.87M	$8.13M	$3.39M	$5.74M	$7.20M
Retained Earnings	-$187.54M	-$195.90M	-$205.90M	-$213.07M	-$223.89M
Shareholders' Equity	$17.59M	$11.81M	$9.56M	$17.88M	$24.20M
Working Capital	$17.52M	$11.75M	$9.52M	$17.85M	$24.14M

CRDL Cash Flow statement, quarterly periods, in CAD
CAD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$7.15M	-$4.55M	-$6.93M	-$5.23M	-$7.52M
Capital Expenditure	-$11.94K	-$6.44K	-$3.02K	-$3.09K	-$47.59K
Free Cash Flow	-$7.17M	-$4.56M	-$6.93M	-$5.23M	-$7.57M
Depreciation & Amortisation	$24.99K	$25.47K	$25.55K	$25.98K	$26.71K
Stock-Based Compensation	$1.15M	$2.54M	$4.00M	$3.01M	$1.84M
Investing Cash Flow	-$11.94K	-$6.44K	-$3.02K	-$3.09K	-$47.59K
Financing Cash Flow	-$13.84K	$20.42K	-$13.84K	$15.55M	$13.60M
Net Change in Cash	-$7.18M	-$4.54M	-$6.94M	$10.32M	$6.03M

Market Snapshot

About

Cardiol Therapeutics Inc. is a clinical-stage biotechnology company focused on developing anti-inflammatory and anti-fibrotic therapies for cardiovascular disease. Headquartered in Oakville, Ontario, Canada, the company's lead product candidate is CardiolRx, a pharmaceutically produced cannabidiol (CBD) formulation designed to treat heart inflammation and fibrosis. Cardiol is conducting clinical trials evaluating CardiolRx for acute myocarditis and acute respiratory distress syndrome (ARDS). The company utilizes nanotechnology to enhance CBD bioavailability and therapeutic efficacy.