Axsome Therapeutics Inc
NASDAQ: AXSM · HEALTHCARE · BIOTECHNOLOGY
Updated 2026-06-05
Axsome Therapeutics Inc (AXSM) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $8.82M | $50.04M | $270.60M | $385.69M | $638.50M |
| Revenue growth (YoY) | — | — | — | — | — | — | — | — | — | +467.3% | +440.8% | +42.5% | +65.5% |
| Cost of revenue | — | $0.00 | $3542.00 | $20484.00 | $42557.00 | $48935.00 | $37330.00 | $77718.00 | $1.16M | $5.20M | $26.07M | $33.30M | $47.48M |
| Gross profit | — | $0.00 | $-3542.00 | $-20484.00 | $-42557.00 | $-48935.00 | $-37330.00 | $-77718.00 | $-1.16M | $44.84M | $244.53M | $352.39M | $591.02M |
| Gross margin | — | — | — | — | — | — | — | — | -13.1% | 89.6% | 90.4% | 91.4% | 92.6% |
| R&D | $1.54M | $4.28M | $6.78M | $21.20M | $19.96M | $23.50M | $53.65M | $70.24M | $58.06M | $57.95M | $97.94M | $187.08M | $183.28M |
| SG&A | $304183.00 | $1.39M | $2.42M | $6.34M | $7.21M | $9.35M | $13.60M | $28.90M | $66.65M | $123.95M | $222.82M | $310.16M | $570.60M |
| Operating income | $-1.84M | $-5.67M | $-9.20M | $-27.54M | $-27.16M | $-32.85M | $-67.25M | $-99.14M | $-124.71M | $-179.80M | $-231.82M | $-280.56M | $-169.24M |
| Operating margin | — | — | — | — | — | — | — | — | -1413.9% | -359.3% | -85.7% | -72.7% | -26.5% |
| EBITDA | $-1.84M | $-2.74M | $-9.19M | $-27.52M | $-27.77M | $-32.58M | $-67.21M | $-100.31M | $-123.55M | $-175.40M | $-224.99M | $-272.60M | $-168.08M |
| EBITDA margin | — | — | — | — | — | — | — | — | -1400.8% | -350.5% | -83.1% | -70.7% | -26.3% |
| EBIT | $-1.84M | $-5.67M | $-9.20M | $-27.54M | $-27.81M | $-32.63M | $-67.25M | $-100.39M | $-124.71M | $-179.80M | $-231.82M | $-280.56M | $-177.15M |
| Interest expense | $327192.00 | $2.23M | $914952.00 | $132424.00 | $1.34M | $1.13M | $1.24M | $2.57M | $5.70M | $7.33M | $6.45M | $6.57M | $6.56M |
| Income tax | $-1.84M | $-2.42M | $1.36M | $586219.00 | $1.30M | $3.01M | $1.34M | $2.49M | $4.54M | $10.63M | $960000.00 | $85000.00 | — |
| Effective tax rate | 45.9% | 28.7% | -12.5% | -2.2% | -4.7% | -10.8% | -2.0% | -2.5% | -3.5% | -6.0% | -0.4% | -0.0% | 0.0% |
| Net income | $-2.17M | $-6.00M | $-12.21M | $-27.20M | $-28.94M | $-30.97M | $-68.35M | $-102.90M | $-134.94M | $-187.13M | $-239.24M | $-287.22M | $-183.17M |
| Net income growth (YoY) | — | -177.0% | -103.5% | -122.8% | -6.4% | -7.0% | -120.7% | -50.6% | -31.1% | -38.7% | -27.8% | -20.1% | +36.2% |
| Profit margin | — | — | — | — | — | — | — | — | -1530.0% | -374.0% | -88.4% | -74.5% | -28.7% |
Frequently asked questions
What is Axsome Therapeutics Inc's revenue?
Axsome Therapeutics Inc's trailing twelve-month revenue is $708.24M, and consensus projects about $5.12B by 2030. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is AXSM?
In its most recent fiscal year, AXSM ran a gross margin of 92.56%, an operating margin of -26.51%, and a net margin of -28.69%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does AXSM generate?
AXSM produced $-93.89M in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is AXSM's balance sheet healthy?
AXSM holds $322.93M in cash and equivalents against $117.75M in long-term debt, on $88.30M of shareholder equity. Cash on hand exceeds long-term debt, so the balance sheet adds little financial risk to the thesis.