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NASDAQ:HCWB

HCW Biologics Inc.

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HCW Biologics Inc.'s revenue fell 97.9% in fiscal 2025 to $54,232 while operating margin fell to −24270.7%, its lowest in 4 years. Free cash flow was −$13.4M, −24693.2% of revenue, and the diluted share count rose 116.3%.Summary generated from HCW Biologics Inc.'s SEC filings. Latest annual report filed Mar 31, 2026.

Key statistics

Fiscal 2025 from SEC filings. Methodology
Revenue (FY25)$54,232
Revenue growth−97.9%
Revenue, 5-yr CAGR−57.9%
Gross margin20.0%
Operating margin−24270.7%
Net margin−14677.1%
ROIC−210.7%
Return on equityn/a
Debt / equity2.46
Free cash flow−$13.4M
FCF margin−24693.2%
Share count change+116.3%

Financials

Fiscal years, $M
Item20212022202320242025
Revenue07330
Operating income−13−15−26−29−13
Net income−13−15−25−30−8
Free cash flow−11−21−29−14−13

Recent filings

From SEC EDGAR

Peers

Pharmaceutical preparations