Financial health
- The company is unprofitable; at its current free-cash-flow burn it has roughly 3.2 years of cash runway.
ACOG Financials Alpha Cognition Inc.
3 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
RevenueNet income
GrossOperatingNet
ROEROA
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key annual figures
| FY | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| 2025 | $10M | -$21M | 94.1% | -221.7% | -33.1% | -25.9% | -$21M | — | $66M |
| 2024 | — | -$15M | — | — | -37.8% | -29.1% | -$8M | — | $49M |
| 2023 | — | -$14M | — | — | 292.6% | -561.3% | — | — | $1M |
RevenueNet income
GrossOperatingNet
ROEROA
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key quarterly figures
| Quarter | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| Jun '26 | $6M | -$9M | 93.6% | -127.3% | -16.6% | -13.6% | -$7M | — | $41M |
| Mar '26 | $4M | -$6M | 0.0% | -229.1% | -11.3% | -9.4% | -$12M | — | $54M |
| Dec '25 | $3M | -$7M | 0.0% | -283.7% | -11.0% | -8.6% | -$7M | — | $66M |
| Sep '25 | $3M | -$1M | 0.0% | -187.0% | -3.9% | -2.8% | -$5M | — | $35M |
| Jun '25 | $2M | -$13M | 87.7% | -509.6% | -49.4% | -29.3% | -$6M | — | $39M |
| Mar '25 | $3M | -$2M | 99.6% | -116.3% | -4.5% | -3.5% | -$2M | — | $46M |
| Dec '24 | — | -$6M | — | — | -14.9% | -11.5% | — | — | $49M |
| Sep '24 | — | -$2M | — | — | 72.4% | -37.0% | — | — | $4M |
| Jun '24 | — | -$2M | — | — | -202.8% | -101.6% | — | — | $1M |
| Mar '24 | — | -$5M | — | — | -934.8% | — | — | — | — |
| Dec '23 | — | -$6M | — | — | 121.9% | -233.8% | — | — | $1M |
| Sep '23 | — | -$3M | — | — | 52.8% | — | — | — | — |
| Jun '23 | — | -$3M | — | — | 486.3% | — | — | — | — |
Valuation over time
How the market has priced ACOG against its own fundamentals since 2024-11 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
- The price-to-sales ratio has risen from 13.9× (Dec '25) to 19.6× (Sep '26).
P/S
Frequently asked questions
Is ACOG growing its revenue and profit?
See the revenue and net-income charts above for Alpha Cognition Inc.'s multi-year trend.
How much debt does ACOG have?
As of FY2025, Alpha Cognition Inc. reported — of total debt against $66M of cash.
What is ACOG's profit margin?
In FY2025, gross margin was 94.1%, operating margin -221.7%, and net margin -202.2%.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.