InsiderClue
Stocks · Health care · Biological Products, (No Diagnostic Substances)

X4 Pharmaceuticals, Inc

XFOR Clue Score49
United States Fiscal year ends December CIK 0001501697
$2.91 +4.30% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $2.91 −45.20% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 16 Nov 2017. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Operating income−24.3Net income−23.0Fiscal year 2017Operating income−22.2Net income−22.0Fiscal year 2018Revenue0.0Operating income−29.1Net income−33.3Fiscal year 2019Revenue0.0Operating income−51.7Net income−52.8Fiscal year 2020Revenue3.0Operating income−59.9Net income−62.1EPS, diluted−3.09Fiscal year 2021Revenue0.0 −100.0%Operating income−85.1Net income−88.7EPS, diluted−3.99Fiscal year 2022Revenue0.0Operating income−87.6Net income−93.9EPS, diluted−1.52Fiscal year 2023Revenue0.0Operating income−107.5Net income−101.2EPS, diluted−17.07Fiscal year 2024Revenue2.6Operating income−36.4Net income−37.5EPS, diluted−5.59Fiscal year 2025Revenue35.1 +1,273.2%Operating income−86.9Net income−79.2EPS, diluted−1.87
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue n/a n/a 0.0 0.0 3.0 0.0 0.0 0.0 2.6 35.1
Growth −100.0% +1,273.2%
Operating income −24.3 −22.2 −29.1 −51.7 −59.9 −85.1 −87.6 −107.5 −36.4 −86.9
Net income −23.0 −22.0 −33.3 −52.8 −62.1 −88.7 −93.9 −101.2 −37.5 −79.2
Growth
EPS, diluted n/a n/a n/a n/a −3.09 −3.99 −1.52 −17.07 −5.59 −1.87

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Fiscal year 2017Fiscal year 2018Fiscal year 2019Fiscal year 2020Operating margin−1,995.8%Net margin−2,071.0%Free cash flow margin−2,006.0%Fiscal year 2021Fiscal year 2022Fiscal year 2023Fiscal year 2024Operating margin−1,423.6%Net margin−1,464.6%Free cash flow margin−5,132.1%Fiscal year 2025Operating margin−247.4%Net margin−225.6%Free cash flow margin−243.8%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin n/a n/a n/a n/a −1,995.8% n/a n/a n/a −1,423.6% −247.4%
Net margin n/a n/a n/a n/a −2,071.0% n/a n/a n/a −1,464.6% −225.6%
Free cash flow margin n/a n/a n/a n/a −2,006.0% n/a n/a n/a −5,132.1% −243.8%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow−21.6Capital expenditure−0.1Free cash flow−21.7Fiscal year 2017Operating cash flow−21.3Capital expenditure−0.4Free cash flow−21.7Fiscal year 2018Operating cash flow−25.4Capital expenditure0.0Free cash flow−25.4Fiscal year 2019Operating cash flow−48.1Capital expenditure−0.2Free cash flow−48.2Buybacks0.0Fiscal year 2020Operating cash flow−58.8Capital expenditure−1.4Free cash flow−60.2Buybacks0.0Fiscal year 2021Operating cash flow−70.9Capital expenditure−0.6Free cash flow−71.5Buybacks−2.0Fiscal year 2022Operating cash flow−77.1Capital expenditure−0.1Free cash flow−77.2Buybacks0.0Fiscal year 2023Operating cash flow−96.5Capital expenditure−0.1Free cash flow−96.6Buybacks0.0Fiscal year 2024Operating cash flow−130.9Capital expenditure−0.3Free cash flow−131.2Fiscal year 2025Operating cash flow−85.6Capital expenditure0.0Free cash flow−85.6
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −21.6 −21.3 −25.4 −48.1 −58.8 −70.9 −77.1 −96.5 −130.9 −85.6
Capital expenditure −0.1 −0.4 0.0 −0.2 −1.4 −0.6 −0.1 −0.1 −0.3 0.0
Free cash flow −21.7 −21.7 −25.4 −48.2 −60.2 −71.5 −77.2 −96.6 −131.2 −85.6
Growth
Buybacks n/a n/a n/a 0.0 0.0 −2.0 0.0 0.0 n/a n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash15.2Shareholders’ equity−23.1Fiscal year 2017Cash26.7Shareholders’ equity−44.5Fiscal year 2018Cash8.1Total debt10.0Net cash (debt)−1.9Shareholders’ equity−77.1Fiscal year 2019Cash126.2Total debt20.0Net cash (debt)106.2Shareholders’ equity129.2Debt to equity0.15Fiscal year 2020Cash78.7Total debt33.2Net cash (debt)45.5Shareholders’ equity72.8Debt to equity0.46Fiscal year 2021Cash81.8Total debt33.9Net cash (debt)47.9Shareholders’ equity64.4Debt to equity0.53Fiscal year 2022Cash121.7Total debt33.6Net cash (debt)88.1Shareholders’ equity74.1Debt to equity0.45Fiscal year 2023Cash99.2Total debt54.6Net cash (debt)44.6Shareholders’ equity51.1Debt to equity1.07Fiscal year 2024Cash55.7Total debt75.0Net cash (debt)−19.3Shareholders’ equity22.1Debt to equity3.39Fiscal year 2025Cash217.0Total debt75.0Net cash (debt)142.0Shareholders’ equity186.3Debt to equity0.40
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 15.2 26.7 8.1 126.2 78.7 81.8 121.7 99.2 55.7 217.0
Total debt n/a n/a 10.0 20.0 33.2 33.9 33.6 54.6 75.0 75.0
Net cash (debt) n/a n/a −1.9 106.2 45.5 47.9 88.1 44.6 −19.3 142.0
Shareholders’ equity −23.1 −44.5 −77.1 129.2 72.8 64.4 74.1 51.1 22.1 186.3
Debt to equity n/a n/a n/a 0.15 0.46 0.53 0.45 1.07 3.39 0.40

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022† 31 Dec 2022 FY2023† 31 Dec 2023 FY2024 31 Dec 2024 FY2025† 31 Dec 2025
Revenue and profit
n/a n/a 0.0 0.0 3.0 0.0 0.0 0.0 2.6 35.1
Growth −100.0% +1,273.2%
n/a n/a n/a n/a n/a n/a 0.0 0.0 0.8 5.8
17.8 17.1 20.3 30.2 41.9 50.6 61.1 72.0 81.6 72.7
6.5 5.2 8.7 17.6 20.9 24.7 27.0 35.5 61.5 43.5
−24.3 −22.2 −29.1 −51.7 −59.9 −85.1 −87.6 −107.5 −36.4 −86.9
Growth
−23.0 −22.0 −33.3 −52.8 −62.0 −88.7 −93.8 −101.1 −37.1 −79.2
n/a n/a 0.0 0.0 0.1 0.0 0.0 0.1 0.3 0.0
−23.0 −22.0 −33.3 −52.8 −62.1 −88.7 −93.9 −101.2 −37.5 −79.2
Growth
Per share
n/a n/a n/a n/a −3.09 −3.99 −1.52 −17.07 −5.59 −1.87
n/a n/a n/a n/a −3.09 −3.99 −1.52 −17.07 −5.59 −1.87
Growth
n/a n/a n/a n/a 20.1 25.7 63.5 5.9 6.7 42.3
n/a n/a n/a n/a 20.1 25.7 63.5 5.9 6.7 42.3
Growth +28.3% +146.7% −90.7% +13.1% +531.0%

† The diluted share count jumps at 2022 and 2023 and 2025, so per-share figures either side of that column are not comparable. Usually a split, but the break lands on the restatement boundary rather than on the split date, because every column is that period’s latest filing.

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 63.6% a year over five years.
  • Operating margin is up 1,748.4 points on five years ago, at -247.4%.
  • A net loss in 10 of 10 years on file.