Emmaus Life Sciences Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	12.45	16.65	29.6	18.39	20.61
Revenue Growth (YoY)	-25.22%	-43.73%	60.94%	-10.77%	-11.04%
Cost of Revenue	0.86	1.2	1.34	2.59	3.31
Gross Profit	11.6	15.45	28.26	15.8	17.3
Selling, General & Admin	11.05	16.69	23.53	20.66	19.32
Research & Development	0.31	0.66	1.19	1.73	4.11
Operating Expenses	11.37	17.35	24.72	22.39	23.43
Operating Income	0.23	-1.89	3.54	-6.59	-6.13
Interest Expense	-7.13	-5.49	-7.38	-5.01	-3.1
Interest & Investment Income	0.27	0.27	0.68	0.68	0.76
Earnings From Equity Investments	-	-	-1.71	-1.91	-2.73
Currency Exchange Gain (Loss)	0.03	-0.15	-1.77	-2.66	-2.02
Other Non Operating Income (Expenses)	0.16	0.35	3.97	5.56	-2.34
EBT Excluding Unusual Items	-6.45	-6.91	-2.67	-9.93	-15.56
Gain (Loss) on Sale of Investments	-0.53	-0.54	-0.3	-0.13	-
Other Unusual Items	-0.5	1.03	-0.82	-0.5	-0.37
Pretax Income	-7.48	-6.42	-3.79	-10.57	-15.92
Income Tax Expense	0.01	0.03	-0.06	0.06	0.03
Net Income	-7.49	-6.45	-3.73	-10.63	-15.95
Net Income to Common	-7.49	-6.45	-3.73	-10.63	-15.95
Shares Outstanding (Basic)	64	63	53	49	49
Shares Outstanding (Diluted)	64	63	53	49	49
Shares Change (YoY)	1.27%	19.07%	7.41%	0.38%	0.73%
EPS (Basic)	-0.12	-0.10	-0.07	-0.21	-0.32
EPS (Diluted)	-0.12	-0.10	-0.07	-0.21	-0.32
Free Cash Flow	-0.01	-2.3	-1.52	-5.1	-1.33
Free Cash Flow Per Share	-	-0.04	-0.03	-0.10	-0.03
Gross Margin	93.12%	92.79%	95.47%	85.93%	83.93%
Operating Margin	1.85%	-11.37%	11.96%	-35.81%	-29.73%
Profit Margin	-60.16%	-38.75%	-12.61%	-57.78%	-77.37%
Free Cash Flow Margin	-0.10%	-13.80%	-5.14%	-27.73%	-6.44%
EBITDA	0.27	-1.87	3.57	-6.53	-6.07
EBITDA Margin	2.17%	-11.24%	12.07%	-35.52%	-29.45%
D&A For EBITDA	0.04	0.02	0.03	0.05	0.06
EBIT	0.23	-1.89	3.54	-6.59	-6.13
EBIT Margin	1.85%	-11.37%	11.96%	-35.81%	-29.73%

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