Sonnet BioTherapeutics Holdings, Inc. (SONN) Financial Statements (2026 and earlier)

Company Profile

Business Address 100 OVERLOOK CENTER
PRINCETON, NJ 08540
State of Incorp. DE
Fiscal Year End September 30
Industry (SIC) 2834 - Pharmaceutical Preparations (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)
Annual | Quarterly

9/30/2025
9/30/2024
9/30/2023
9/30/2022
9/30/2021
9/30/2020
12/31/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1494,5743,05327,6227,350501
Cash and cash equivalent1494,5743,05327,6227,350501
Restricted cash and investments      
Inventory, net of allowances, customer advances and progress billings      287
Inventory      287
Deferred costs 15     
Other undisclosed current assets1,9531642,3611,189288382
Total current assets:2,1184,7385,41428,8127,6381,170
Noncurrent Assets
Operating lease, right-of-use asset12319425712320611,668
Property, plant, and equipment, after accumulated depreciation, depletion, and amortization21334659685,630
Intangible asset, including goodwill, after accumulated amortization      12,225
Goodwill      8,568
Intangible asset, excluding goodwill, after accumulated amortization      3,657
Deposits noncurrent assets      309
Disposal group, including discontinued operation, noncurrent assets      149
Deferred costs 1550113   
Other noncurrent assets494414  83 
Other undisclosed noncurrent assets      381
Total noncurrent assets:65369141618235730,363
TOTAL ASSETS:2,7715,4295,83028,9947,99431,533
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities2,3592,4297,9466,0924,1218,165
Interest and dividends payable✕✕✕✕  617
Taxes payable✕✕✕✕  3,318
Accounts payable2,1832,2024,7523,7812,0584,231
Accrued liabilities1752273,1942,3102,064 
Deferred revenue  19166516500 
Debt      9,930
Due to related parties✕✕✕1121 
Other undisclosed current liabilities8523,077519582 
Total current liabilities:3,2105,5258,1656,7034,72418,095
Noncurrent Liabilities
Long-term debt and lease obligation   2043125014,382
Long-term debt, excluding current maturities     125 
Liabilities, other than long-term debt 47131   1,497
Deferred revenue      959
Deferred income tax liabilities      102
Disposal group, including discontinued operation, liabilities      436
Operating lease, liability 471312043112514,382
Other undisclosed noncurrent liabilities   (204)(31)(125)710
Total noncurrent liabilities: 471312043125016,589
Total liabilities:3,2575,6558,3696,7344,97434,685
Temporary equity, including noncontrolling interest      710
Equity
Equity, attributable to parent(486)(226)(2,539)22,2603,020(3,608)
Preferred stock      
Common stock001611
Additional paid in capital117,195110,01888,87283,94339,72471,506
Accumulated other comprehensive loss      (46)
Accumulated deficit(117,681)(110,244)(91,411)(61,689)(36,705)(75,068)
Equity, attributable to noncontrolling interest      456
Total equity:(486)(226)(2,539)22,2603,020(3,152)
Other undisclosed liabilities and equity      (710)
TOTAL LIABILITIES AND EQUITY:2,7715,4295,83028,9947,99431,533

Income Statement (P&L) ($ in thousands)
Annual | Quarterly

9/30/2025
9/30/2024
9/30/2023
9/30/2022
9/30/2021
9/30/2020
12/31/2019
Revenues4,328148350484 30,143
Other income4,328  126  
Cost of revenue      (26,815)
Gross profit:4,328148350484 3,328
Operating expenses(11,868)(18,940)(30,019)(25,571)(17,411)(19,406)
Other undisclosed operating loss (4,309)   (6,826) 
Operating loss:(11,849)(18,793)(29,669)(25,087)(24,238)(16,078)
Nonoperating income (expense)84(40)(52)(22)(48)(1,291)
Gain (loss), foreign currency transaction, before tax84(40)(52)(22)(48) 
Other nonoperating expense      (618)
Interest and debt expense      (674)
Other undisclosed income from continuing operations before equity method investments, income taxes      674
Loss from continuing operations before equity method investments, income taxes:(11,765)(18,833)(29,722)(25,109)(24,286)(17,370)
Other undisclosed income from continuing operations before income taxes      
Loss from continuing operations before income taxes:(11,765)(18,833)(29,722)(25,109)(24,286)(17,370)
Income tax expense     (74)
Loss from continuing operations:(11,765)(18,833)(29,722)(25,109)(24,286)(17,443)
Loss before gain (loss) on sale of properties:✕✕✕(29,722)(25,109)(24,286)(18,465)
Loss from discontinued operations      (1,022)
Net loss:(11,765)(18,833)(29,722)(25,109)(24,286)(18,465)
Net income attributable to noncontrolling interest      402
Other undisclosed net income attributable to parent 4,328  12621336
Net loss attributable to parent:(7,437)(18,833)(29,722)(24,984)(24,265)(17,726)
Preferred stock dividends and other adjustments     (112)
Other undisclosed net loss available to common stockholders, basic     (41,339) 
Net loss available to common stockholders, diluted:(7,437)(18,833)(29,722)(24,984)(65,604)(17,839)

Comprehensive Income ($ in thousands)
Annual | Quarterly

9/30/2025
9/30/2024
9/30/2023
9/30/2022
9/30/2021
9/30/2020
12/31/2019
Net loss:(11,765)(18,833)(29,722)(25,109)(24,286)(18,465)
Comprehensive loss:(11,765)(18,833)(29,722)(25,109)(24,286)(18,465)
Comprehensive income, net of tax, attributable to noncontrolling interest      402
Other undisclosed comprehensive income, net of tax, attributable to parent      492
Comprehensive loss, net of tax, attributable to parent:(11,765)(18,833)(29,722)(25,109)(24,286)(17,571)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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