# Madrigal Pharmaceuticals, Inc.: financial statements, quarterly

MDGL · Nasdaq · CIK 1157601 · [Healthcare](/sectors/healthcare.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/mdgl.md) · [Financials](/companies/mdgl/financials.md) · [Filings](/companies/mdgl/filings.md) · [Insiders](/companies/mdgl/insiders.md)

Standardized line items from XBRL company facts. Each value links to its filing; d marks a value derived from year-to-date figures. Other view: [annual](/companies/mdgl/financials.md?period=annual).

## Income statement

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [0.0](/filings/0001628280-24-044445.md) | [0.0](/filings/0001628280-24-007376.md) | [0.0](/filings/0001628280-25-021356.md) | [14.6](/filings/0001628280-25-037613.md) | [62.2](/filings/0001628280-25-048559.md) | [103 d](/filings/0001628280-26-009514.md) | [137](/filings/0001628280-26-030947.md) | [213](/filings/0001628280-26-050845.md) | [287](/filings/0001628280-25-048559.md) | [321 d](/filings/0001628280-26-009514.md) | [311](/filings/0001628280-26-030947.md) | [364](/filings/0001628280-26-050845.md) |
| Cost of revenue | $m | not reported | not reported | [0.0](/filings/0001628280-25-021356.md) | not reported | not reported | not reported | [4.5](/filings/0001628280-25-021356.md) | not reported | not reported | not reported | not reported | not reported |
| Selling, general and administrative | $m | [27.6](/filings/0001628280-24-044445.md) | [46.5 d](/filings/0001628280-26-009514.md) | [80.8](/filings/0001628280-25-021356.md) | [105](/filings/0001628280-25-037613.md) | [108](/filings/0001628280-25-048559.md) | [141 d](/filings/0001628280-26-009514.md) | [168](/filings/0001628280-26-030947.md) | [197](/filings/0001628280-26-050845.md) | [209](/filings/0001628280-25-048559.md) | [240 d](/filings/0001628280-26-009514.md) | [269](/filings/0001628280-26-030947.md) | [289](/filings/0001628280-26-050845.md) |
| Operating income | $m | [(98.5)](/filings/0001628280-24-044445.md) | [(117)](/filings/0001628280-24-007376.md) | [(152)](/filings/0001628280-25-021356.md) | [(163)](/filings/0001628280-25-037613.md) | [(116)](/filings/0001628280-25-048559.md) | [(67.0) d](/filings/0001628280-26-009514.md) | [(79.3)](/filings/0001628280-26-030947.md) | [(47.2)](/filings/0001628280-26-050845.md) | [(114)](/filings/0001628280-25-048559.md) | [(59.6) d](/filings/0001628280-26-009514.md) | [(92.7)](/filings/0001628280-26-030947.md) | [(56.3)](/filings/0001628280-26-050845.md) |
| Interest expense | $m | [3.5](/filings/0001628280-24-044445.md) | [4.0](/filings/0001628280-24-007376.md) | [3.8](/filings/0001628280-25-021356.md) | [3.7](/filings/0001628280-24-035400.md) | [3.7](/filings/0001628280-24-044445.md) | [3.5 d](/filings/0001628280-26-009514.md) | [3.3](/filings/0001628280-25-021356.md) | [3.3](/filings/0001628280-26-050845.md) | [7.5](/filings/0001628280-25-048559.md) | [8.3 d](/filings/0001628280-26-009514.md) | [7.8](/filings/0001628280-26-030947.md) | [7.9](/filings/0001628280-26-050845.md) |
| Net income | $m | [(98.7)](/filings/0001628280-24-044445.md) | [(112)](/filings/0001628280-24-007376.md) | [(148)](/filings/0001628280-25-048559.md) | [(152)](/filings/0001628280-25-048559.md) | [(107)](/filings/0001628280-25-048559.md) | [(59.4) d](/filings/0001628280-26-009514.md) | [(73.2)](/filings/0001628280-26-050845.md) | [(42.3)](/filings/0001628280-26-050845.md) | [(114)](/filings/0001628280-25-048559.md) | [(58.6) d](/filings/0001628280-26-009514.md) | [(94.4)](/filings/0001628280-26-050845.md) | [(57.9)](/filings/0001628280-26-050845.md) |
| Diluted EPS | $ per share | [(5.34)](/filings/0001628280-24-044445.md) | [(5.68)](/filings/0001628280-24-007376.md) | [(7.38)](/filings/0001628280-25-021356.md) | [(7.10)](/filings/0001628280-25-037613.md) | [(4.92)](/filings/0001628280-25-048559.md) | not reported | [(2.61)](/filings/0001628280-26-030947.md) | [(1.50)](/filings/0001628280-26-050845.md) | [(4.01)](/filings/0001628280-26-050845.md) | not reported | [(3.25)](/filings/0001628280-26-030947.md) | [(1.99)](/filings/0001628280-26-050845.md) |
| Basic EPS | $ per share | [(5.34)](/filings/0001628280-24-044445.md) | [(5.68)](/filings/0001628280-24-007376.md) | [(7.38)](/filings/0001628280-25-021356.md) | [(7.10)](/filings/0001628280-25-037613.md) | [(4.92)](/filings/0001628280-25-048559.md) | not reported | [(2.61)](/filings/0001628280-26-030947.md) | [(1.50)](/filings/0001628280-26-050845.md) | [(4.01)](/filings/0001628280-26-050845.md) | not reported | [(3.25)](/filings/0001628280-26-030947.md) | [(1.99)](/filings/0001628280-26-050845.md) |

- Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, us-gaap:Revenues
- Cost of revenue: us-gaap:CostOfGoodsAndServicesSold
- Selling, general and administrative: us-gaap:SellingGeneralAndAdministrativeExpense
- Operating income: us-gaap:OperatingIncomeLoss
- Interest expense: us-gaap:InterestExpense, us-gaap:InterestExpenseNonoperating
- Net income: us-gaap:NetIncomeLoss
- Diluted EPS: us-gaap:EarningsPerShareDiluted
- Basic EPS: us-gaap:EarningsPerShareBasic

## Balance sheet

| Line item | Unit | Q3 FY2023 (2023-09-30) | FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | $m | [62.1](/filings/0001193125-23-270803.md) | [99.9](/filings/0001628280-25-007980.md) | [623](/filings/0001628280-24-020865.md) | [495](/filings/0001628280-24-035400.md) | [233](/filings/0001628280-24-044445.md) | [100](/filings/0001628280-26-009514.md) | [184](/filings/0001628280-25-021356.md) | [186](/filings/0001628280-25-037613.md) | [296](/filings/0001628280-25-048559.md) | [199](/filings/0001628280-26-050845.md) | [227](/filings/0001628280-26-030947.md) | [293](/filings/0001628280-26-050845.md) |
| Current assets | $m | [235](/filings/0001193125-23-270803.md) | [637](/filings/0001628280-25-007980.md) | [1,074](/filings/0001628280-24-020865.md) | [1,092](/filings/0001628280-24-035400.md) | [1,064](/filings/0001628280-24-044445.md) | [1,033](/filings/0001628280-26-009514.md) | [988](/filings/0001628280-25-021356.md) | [1,003](/filings/0001628280-25-037613.md) | [1,347](/filings/0001628280-25-048559.md) | [1,246](/filings/0001628280-26-050845.md) | [1,182](/filings/0001628280-26-030947.md) | [1,199](/filings/0001628280-26-050845.md) |
| Total assets | $m | [238](/filings/0001193125-23-270803.md) | [641](/filings/0001628280-25-007980.md) | [1,082](/filings/0001628280-24-020865.md) | [1,100](/filings/0001628280-24-035400.md) | [1,073](/filings/0001628280-24-044445.md) | [1,042](/filings/0001628280-26-009514.md) | [997](/filings/0001628280-25-021356.md) | [1,015](/filings/0001628280-25-037613.md) | [1,362](/filings/0001628280-25-048559.md) | [1,260](/filings/0001628280-26-050845.md) | [1,227](/filings/0001628280-26-030947.md) | [1,245](/filings/0001628280-26-050845.md) |
| Current liabilities | $m | [99.7](/filings/0001193125-23-270803.md) | [119](/filings/0001628280-25-007980.md) | [114](/filings/0001628280-24-020865.md) | [125](/filings/0001628280-24-035400.md) | [178](/filings/0001628280-24-044445.md) | [169](/filings/0001628280-26-009514.md) | [167](/filings/0001628280-25-021356.md) | [197](/filings/0001628280-25-037613.md) | [391](/filings/0001628280-25-048559.md) | [310](/filings/0001628280-26-050845.md) | [338](/filings/0001628280-26-030947.md) | [374](/filings/0001628280-26-050845.md) |
| Total liabilities | $m | [216](/filings/0001193125-23-270803.md) | [235](/filings/0001628280-25-007980.md) | [232](/filings/0001628280-24-020865.md) | [243](/filings/0001628280-24-035400.md) | [296](/filings/0001628280-24-044445.md) | [288](/filings/0001628280-26-009514.md) | [286](/filings/0001628280-25-021356.md) | [319](/filings/0001628280-25-037613.md) | [737](/filings/0001628280-25-048559.md) | [657](/filings/0001628280-26-050845.md) | [684](/filings/0001628280-26-030947.md) | [721](/filings/0001628280-26-050845.md) |
| Long-term debt | $m | [115](/filings/0001193125-23-270803.md) | [115](/filings/0001628280-25-007980.md) | [116](/filings/0001628280-24-020865.md) | [117](/filings/0001628280-24-035400.md) | [117](/filings/0001628280-24-044445.md) | [118](/filings/0001628280-26-009514.md) | [118](/filings/0001628280-25-021356.md) | [118](/filings/0001628280-25-037613.md) | [340](/filings/0001628280-25-048559.md) | [340](/filings/0001628280-26-050845.md) | [340](/filings/0001628280-26-030947.md) | [341](/filings/0001628280-26-050845.md) |
| Shareholders' equity | $m | [22.2](/filings/0001628280-24-044445.md) | [405](/filings/0001628280-26-009514.md) | [851](/filings/0001628280-25-048559.md) | [857](/filings/0001628280-25-048559.md) | [777](/filings/0001628280-25-048559.md) | [754](/filings/0001628280-26-050845.md) | [711](/filings/0001628280-26-050845.md) | [696](/filings/0001628280-26-050845.md) | [626](/filings/0001628280-25-048559.md) | [603](/filings/0001628280-26-050845.md) | [543](/filings/0001628280-26-050845.md) | [524](/filings/0001628280-26-050845.md) |

- Cash and equivalents: us-gaap:CashAndCashEquivalentsAtCarryingValue
- Current assets: us-gaap:AssetsCurrent
- Total assets: us-gaap:Assets
- Current liabilities: us-gaap:LiabilitiesCurrent
- Total liabilities: us-gaap:Liabilities
- Long-term debt: us-gaap:LongTermDebtNoncurrent
- Shareholders' equity: us-gaap:StockholdersEquity

## Cash flow

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Operating cash flow | $m | [(84.9) d](/filings/0001628280-24-044445.md) | [(79.9) d](/filings/0001628280-26-009514.md) | [(149)](/filings/0001628280-25-021356.md) | [(135) d](/filings/0001628280-25-037613.md) | [(67.0) d](/filings/0001628280-25-048559.md) | [(104) d](/filings/0001628280-26-009514.md) | [(88.9)](/filings/0001628280-26-030947.md) | [(47.1) d](/filings/0001628280-26-050845.md) | [79.9 d](/filings/0001628280-25-048559.md) | [(133) d](/filings/0001628280-26-009514.md) | [(167)](/filings/0001628280-26-030947.md) | [23.3 d](/filings/0001628280-26-050845.md) |
| Capital expenditure | $m | [0.3 d](/filings/0001628280-24-044445.md) | [1.0 d](/filings/0001628280-26-009514.md) | [0.4](/filings/0001628280-25-021356.md) | [0.1 d](/filings/0001628280-25-037613.md) | [0.8 d](/filings/0001628280-25-048559.md) | [0.2 d](/filings/0001628280-26-009514.md) | [0.0](/filings/0001628280-26-030947.md) | [0.0 d](/filings/0001628280-26-050845.md) | [0.9 d](/filings/0001628280-25-048559.md) | [(0.4) d](/filings/0001628280-26-009514.md) | [3.8](/filings/0001628280-26-030947.md) | [4.3 d](/filings/0001628280-26-050845.md) |

- Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities
- Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment

## Shares

| Line item | Unit | Q1 FY2023 (2023-03-31) | Q2 FY2023 (2023-06-30) | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Diluted shares (weighted) | millions of shares | [18.2](/filings/0001628280-24-020865.md) | [18.3](/filings/0001628280-24-035400.md) | [18.5](/filings/0001628280-24-044445.md) | [19.8](/filings/0001628280-24-007376.md) | [20.0](/filings/0001628280-25-021356.md) | [21.4](/filings/0001628280-25-037613.md) | [21.7](/filings/0001628280-25-048559.md) | [28.1](/filings/0001628280-26-030947.md) | [28.2](/filings/0001628280-26-050845.md) | [28.5](/filings/0001628280-26-050845.md) | [29.0](/filings/0001628280-26-030947.md) | [29.1](/filings/0001628280-26-050845.md) |

- Diluted shares (weighted): us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

Shares outstanding: 23,104,126 at 2026-07-27, from the cover of the [10-Q filed 2026-07-30](/filings/0001628280-26-050845.md) (dei:EntityCommonStockSharesOutstanding).

Source: SEC EDGAR, XBRL company facts. Last ingested by Listed: Oct 24, 2026, 15:34 ET. No prices; not investment advice.