ALMR
ALMR
Alamar Biosciences, Inc.Income Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q1-2026 | $26.04M | $26.8M | $-21.32M | -81.91% | $-0.31 | $-19.47M |
What's going well?
Gross margins are fairly high at 56%, which means the core product or service could be profitable if costs are controlled. The company is investing heavily in research and development, which could lead to future growth.
What's concerning?
Losses are large compared to revenue, with the company losing 82 cents for every dollar sold. Operating expenses are very high, and 'other' expenses are also dragging down results.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q1-2026 | $64.59M | $186.45M | $364.52M | $-178.07M |
What's financially strong about this company?
The company has a strong liquidity position, with $64.6 million in cash and a current ratio of 5.7x. Most assets are tangible and there is little risk from goodwill write-downs.
What are the financial risks or weaknesses?
The company owes much more than it owns, with negative equity of $178 million and total debt far above total assets. Large historical losses and high leverage create serious financial risk.
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q1-2026 | $-21.32M | $-20.35M | $-778K | $55.76M | $64.59M | $-20.95M |
What's strong about this company's cash flow?
The company was able to raise $56 million in new debt, giving it a cash cushion for now. No dilution from stock-based compensation or new share issuance.
What are the cash flow concerns?
Operations are burning $20 million in cash every quarter, and working capital is draining even more cash. The business is completely dependent on new borrowing to survive.
5-Year Trend Analysis
A comprehensive look at Alamar Biosciences, Inc.'s financial evolution and strategic trajectory over the past five years.
Key positives include a differentiated, high‑sensitivity proteomics platform with credible independent validation, a growing suite of disease‑focused products, and meaningful early revenue supported by strong gross margins. The company also benefits from solid short‑term liquidity and a relatively clean asset base, while its R&D engine and external backing from foundations and IPO proceeds provide fuel for continued innovation and market expansion.
The main concerns center on financial sustainability and capital structure. Alamar is deeply loss‑making, burns substantial cash, and carries very negative equity alongside sizeable non‑current liabilities, which raises longer‑term solvency and refinancing questions. Competitive pressure from much larger life‑science players, regulatory and execution risks in moving into diagnostics, and the need to prove consistent customer value across diverse applications further add to the risk profile.
The forward picture is that of a high‑potential, high‑risk growth story. If Alamar can maintain its technological lead, convert it into wider commercial adoption, and gradually bring operating expenses in line with a scaling revenue base, its financial profile could improve materially over time. Conversely, if revenue growth or clinical progress falls short, the current cash burn and leveraged capital structure could become increasingly constraining. Monitoring revenue momentum, path toward profitability, and progress on the clinical diagnostics roadmap will be central to assessing how the story evolves.
About Alamar Biosciences, Inc.
www.alamarbio.comAlamar Biosciences operates as a commercial-stage proteomics firm, specializing in the highly sensitive, simultaneous identification of various proteins for both scientific research and prospective medical applications. Their integrated platform brings together proprietary instruments, specialized consumables, and unique software, forming a comprehensive, end-to-end solution.
Income Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q1-2026 | $26.04M | $26.8M | $-21.32M | -81.91% | $-0.31 | $-19.47M |
What's going well?
Gross margins are fairly high at 56%, which means the core product or service could be profitable if costs are controlled. The company is investing heavily in research and development, which could lead to future growth.
What's concerning?
Losses are large compared to revenue, with the company losing 82 cents for every dollar sold. Operating expenses are very high, and 'other' expenses are also dragging down results.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q1-2026 | $64.59M | $186.45M | $364.52M | $-178.07M |
What's financially strong about this company?
The company has a strong liquidity position, with $64.6 million in cash and a current ratio of 5.7x. Most assets are tangible and there is little risk from goodwill write-downs.
What are the financial risks or weaknesses?
The company owes much more than it owns, with negative equity of $178 million and total debt far above total assets. Large historical losses and high leverage create serious financial risk.
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q1-2026 | $-21.32M | $-20.35M | $-778K | $55.76M | $64.59M | $-20.95M |
What's strong about this company's cash flow?
The company was able to raise $56 million in new debt, giving it a cash cushion for now. No dilution from stock-based compensation or new share issuance.
What are the cash flow concerns?
Operations are burning $20 million in cash every quarter, and working capital is draining even more cash. The business is completely dependent on new borrowing to survive.
5-Year Trend Analysis
A comprehensive look at Alamar Biosciences, Inc.'s financial evolution and strategic trajectory over the past five years.
Key positives include a differentiated, high‑sensitivity proteomics platform with credible independent validation, a growing suite of disease‑focused products, and meaningful early revenue supported by strong gross margins. The company also benefits from solid short‑term liquidity and a relatively clean asset base, while its R&D engine and external backing from foundations and IPO proceeds provide fuel for continued innovation and market expansion.
The main concerns center on financial sustainability and capital structure. Alamar is deeply loss‑making, burns substantial cash, and carries very negative equity alongside sizeable non‑current liabilities, which raises longer‑term solvency and refinancing questions. Competitive pressure from much larger life‑science players, regulatory and execution risks in moving into diagnostics, and the need to prove consistent customer value across diverse applications further add to the risk profile.
The forward picture is that of a high‑potential, high‑risk growth story. If Alamar can maintain its technological lead, convert it into wider commercial adoption, and gradually bring operating expenses in line with a scaling revenue base, its financial profile could improve materially over time. Conversely, if revenue growth or clinical progress falls short, the current cash burn and leveraged capital structure could become increasingly constraining. Monitoring revenue momentum, path toward profitability, and progress on the clinical diagnostics roadmap will be central to assessing how the story evolves.
CEO
Justin J. McAnear
Compensation Summary
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Upcoming Earnings
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Ratings Snapshot
Rating : C-