MaaT Pharma SA (EPA:MAAT)

MaaT Pharma Income Statement

Financials in millions EUR. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Revenue	4.52	3.22	2.23	1.43	0.97
Revenue	4.52	3.22	2.23	1.43	0.97
Revenue Growth (YoY)	40.67%	44.34%	55.80%	47.12%	-
Cost of Revenue	1.73	1.61	0.88	0.64	0.33
Gross Profit	2.8	1.6	1.35	0.79	0.64
Selling, General & Admin	8.18	6.88	5.38	4.43	2.92
Research & Development	28.67	26.88	20.49	13.98	8.96
Other Operating Expenses	-4.32	-3.72	-4.58	-4.06	-2.34
Operating Expenses	32.53	30.03	21.29	14.34	9.54
Operating Income	-29.73	-28.43	-19.94	-13.56	-8.89
Interest Expense	-1.26	-0.87	-0.4	-0.19	-0.12
Interest & Investment Income	-	-	-	0.05	-
Other Non Operating Income (Expenses)	-0.07	0.39	0.63	-0.02	-0.01
Pretax Income	-31.06	-28.9	-19.72	-13.71	-9.02
Net Income	-31.06	-28.9	-19.72	-13.71	-9.02
Net Income to Common	-31.06	-28.9	-19.72	-13.71	-9.02
Shares Outstanding (Basic)	16	13	11	10	2
Shares Outstanding (Diluted)	16	13	11	10	2
Shares Change (YoY)	21.97%	14.95%	14.89%	307.65%	135.06%
EPS (Basic)	-1.95	-2.21	-1.73	-1.39	-3.72
EPS (Diluted)	-1.95	-2.21	-1.73	-1.39	-3.72
Free Cash Flow	-16.33	-22.79	-19.76	-13.27	-8.17
Free Cash Flow Per Share	-1.02	-1.75	-1.74	-1.34	-3.37
Gross Margin	61.80%	49.81%	60.59%	55.11%	66.05%
Operating Margin	-657.14%	-883.95%	-895.11%	-947.97%	-914.92%
Profit Margin	-686.58%	-898.76%	-884.96%	-958.95%	-927.88%
Free Cash Flow Margin	-360.88%	-708.77%	-887.03%	-927.76%	-840.23%
EBITDA	-29.41	-28.2	-19.74	-13.32	-8.71
D&A For EBITDA	0.32	0.23	0.2	0.24	0.18
EBIT	-29.73	-28.43	-19.94	-13.56	-8.89
Advertising Expenses	0.22	0.25	0.24	0.19	0.15

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.