VERA

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Vera Therapeutics, Inc.

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Key Metrics

Previous Close: $32.28
52-Week Range: $21.15 – $56.05
Market Cap: $2.25B
P/E (TTM): —
EPS (TTM): -5.87
Dividend Yield: —

Advanced Metrics

Price/Book: 5.52
PEG Ratio: —
Return on Equity: -91.75%
Return on Assets: -46.76%
Gross Margin: 0.00%
Operating Margin: 0.00%
Profit Margin: 0.00%
Current Ratio: 10.92
Debt/Equity: 0.19
Total Debt: $76.91M
Free Cash Flow: $-212.95M
Revenue Growth: —
Earnings Growth: —
Enterprise Value: $1.83B

VERA Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$0.00	$0.00	$0.00	$0.00
Research & Development	$68.99M	$78.22M	$126.17M	$215.26M
Selling, General & Admin	$21.91M	$23.79M	$41.00M	$100.22M
Operating Expenses	$90.90M	$102.01M	$167.17M	$315.47M
Operating Income	-$90.90M	-$102.01M	-$167.17M	-$315.47M
EBITDA	-$88.06M	-$92.18M	-$144.42M	-$291.62M
Pretax Income	-$89.06M	-$95.99M	-$152.15M	-$299.61M
Income Tax	$1.00K	$1.00K	$1.00K	$1.00K
Net Income	-$89.06M	-$95.99M	-$152.15M	-$299.62M
Diluted EPS	-3.35	-2.25	-2.75	-4.66
Diluted Shares	26.57M	42.71M	55.33M	64.23M

VERA Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$43.46M	$45.68M	$92.65M	$354.73M
Receivables	—	$512.00K	$3.77M	$3.29M
Current Assets	$125.70M	$172.02M	$651.22M	$728.88M
Total Assets	$131.44M	$175.55M	$655.68M	$734.73M
Current Liabilities	$25.60M	$22.30M	$25.37M	$53.45M
Long-Term Debt	$24.81M	$49.88M	$50.69M	$74.84M
Total Debt	$31.29M	$53.71M	$54.64M	$77.31M
Total Liabilities	$54.53M	$73.86M	$78.53M	$130.21M
Retained Earnings	-$213.11M	-$309.10M	-$461.25M	-$760.87M
Shareholders' Equity	$76.91M	$101.69M	$577.15M	$604.52M
Working Capital	$100.10M	$149.72M	$625.85M	$675.43M
Net Debt	—	$4.20M	—	—

VERA Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$67.60M	-$92.18M	-$134.68M	-$241.10M
Capital Expenditure	-$62.00K	-$63.00K	-$972.00K	-$630.00K
Free Cash Flow	-$67.66M	-$92.24M	-$135.65M	-$241.73M
Depreciation & Amortisation	-$846.00K	$21.00K	$105.00K	$468.00K
Stock-Based Compensation	$8.89M	$11.49M	$20.80M	$37.93M
Investing Cash Flow	-$70.55M	-$39.43M	-$425.03M	$194.29M
Financing Cash Flow	$101.93M	$133.54M	$606.67M	$308.90M
Share Repurchases	—	$0.00	-$13.00K	$0.00
Net Change in Cash	-$36.22M	$1.93M	$46.97M	$262.08M

VERA Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$0.00	$0.00	$0.00	$0.00	$0.00
Research & Development	$41.28M	$58.20M	$56.47M	$59.31M	$86.01M
Selling, General & Admin	$15.92M	$21.95M	$27.46M	$34.90M	$39.12M
Operating Expenses	$57.19M	$80.14M	$83.93M	$94.21M	$125.13M
Operating Income	-$57.19M	-$80.14M	-$83.93M	-$94.21M	-$125.13M
EBITDA	-$49.82M	-$74.54M	-$78.20M	-$89.06M	-$119.07M
Pretax Income	-$51.69M	-$76.53M	-$80.29M	-$91.10M	-$121.03M
Net Income	-$51.69M	-$76.53M	-$80.29M	-$91.10M	-$121.03M
Diluted EPS	-0.81	-1.20	-1.26	—	-1.69
Diluted Shares	63.67M	63.79M	63.85M	—	71.48M

VERA Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$55.09M	$49.12M	$57.77M	$354.73M	$114.35M
Receivables	$3.59M	$4.20M	$3.36M	$3.29M	$3.91M
Current Assets	$606.08M	$571.35M	$511.31M	$728.88M	$615.80M
Total Assets	$610.17M	$578.53M	$517.50M	$734.73M	$621.74M
Current Liabilities	$21.89M	$33.55M	$41.88M	$53.45M	$45.15M
Long-Term Debt	$50.91M	$74.46M	$74.65M	$74.84M	$75.03M
Total Debt	$54.47M	$77.55M	$77.22M	$77.31M	$76.89M
Total Liabilities	$75.17M	$110.25M	$118.62M	$130.21M	$122.04M
Retained Earnings	-$512.94M	-$589.48M	-$669.77M	-$760.87M	-$881.90M
Shareholders' Equity	$535.00M	$468.28M	$398.88M	$604.52M	$499.70M
Working Capital	$584.18M	$537.80M	$469.43M	$675.43M	$570.65M
Net Debt	—	$25.34M	$16.88M	—	—

VERA Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$54.41M	-$54.80M	-$61.91M	-$69.99M	-$106.50M
Capital Expenditure	-$187.00K	-$208.00K	-$133.00K	-$102.00K	-$173.00K
Free Cash Flow	-$54.59M	-$55.01M	-$62.04M	-$70.10M	-$106.67M
Depreciation & Amortisation	$85.00K	$119.00K	$129.00K	$135.00K	$140.00K
Stock-Based Compensation	$7.74M	$9.47M	$9.74M	$10.96M	$13.21M
Investing Cash Flow	$15.32M	$28.54M	$69.76M	$80.66M	-$137.82M
Financing Cash Flow	$1.53M	$20.29M	$797.00K	$286.28M	$3.94M
Share Repurchases	—	—	—	$0.00	—
Net Change in Cash	-$37.56M	-$5.97M	$8.65M	$296.95M	-$240.37M

Market Snapshot

About

Vera Therapeutics is a clinical-stage biotechnology company focused on developing treatments for serious immunological diseases. The company is advancing atacicept, a novel fusion protein, for IgA nephropathy and other autoimmune conditions. Vera aims to address unmet medical needs in complement-mediated and autoimmune disorders.