# Milestone Pharmaceuticals Inc.: financial statements, quarterly

MIST · Nasdaq · CIK 1408443 · [Healthcare](/sectors/healthcare.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/mist.md) · [Financials](/companies/mist/financials.md) · [Filings](/companies/mist/filings.md) · [Insiders](/companies/mist/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/mist/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 | not reported | not reported | not reported | not reported | not reported | not reported | [0.0](/filings/0001104659-26-059752.md) | [0.0](/filings/0001104659-26-094435.md) | not reported | not reported | [0.2](/filings/0001104659-26-059752.md) | [0.6](/filings/0001104659-26-094435.md) |
| Cost of revenue | $m | not reported | not reported | not reported | not reported | not reported | not reported | [0.0](/filings/0001104659-26-059752.md) | [0.0](/filings/0001104659-26-094435.md) | not reported | not reported | [0.0](/filings/0001104659-26-059752.md) | [0.0](/filings/0001104659-26-094435.md) |
| Research and development | $m | [6.7](/filings/0001558370-24-015147.md) | [5.5 d](/filings/0001558370-25-002849.md) | [3.6](/filings/0001558370-25-007648.md) | [2.8](/filings/0001558370-25-011141.md) | [4.0](/filings/0001104659-25-109689.md) | [3.9 d](/filings/0001104659-26-032415.md) | [5.0](/filings/0001104659-26-059752.md) | [3.7](/filings/0001104659-26-094435.md) | [3.9](/filings/0001104659-25-109689.md) | [5.5 d](/filings/0001104659-26-032415.md) | [3.3](/filings/0001104659-26-059752.md) | [3.5](/filings/0001104659-26-094435.md) |
| Selling, general and administrative | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | [8.9](/filings/0001104659-26-094435.md) | not reported | not reported | not reported | [22.6](/filings/0001104659-26-094435.md) |
| Operating income | $m | [(15.4)](/filings/0001558370-24-015147.md) | [(13.8) d](/filings/0001558370-25-002849.md) | [(10.5)](/filings/0001558370-25-007648.md) | [(9.7)](/filings/0001558370-25-011141.md) | [(9.6)](/filings/0001104659-25-109689.md) | [(12.3) d](/filings/0001104659-26-032415.md) | [(20.5)](/filings/0001104659-26-059752.md) | [(12.5)](/filings/0001104659-26-094435.md) | [(11.8)](/filings/0001104659-25-109689.md) | [(17.3) d](/filings/0001104659-26-032415.md) | [(23.7)](/filings/0001104659-26-059752.md) | [(25.6)](/filings/0001104659-26-094435.md) |
| Interest expense | $m | [0.8](/filings/0001558370-23-018665.md) | [0.9 d](/filings/0001558370-24-003666.md) | [0.9](/filings/0001558370-24-007860.md) | [0.9](/filings/0001558370-25-011141.md) | [0.9](/filings/0001104659-25-109689.md) | [0.9 d](/filings/0001104659-26-032415.md) | [0.9](/filings/0001104659-26-059752.md) | [1.0](/filings/0001104659-26-094435.md) | [1.0](/filings/0001104659-25-109689.md) | [1.0 d](/filings/0001104659-26-032415.md) | [4.1](/filings/0001104659-26-059752.md) | [4.7](/filings/0001104659-26-094435.md) |
| Income tax | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Net income | $m | [(15.1)](/filings/0001558370-24-015147.md) | [(13.6) d](/filings/0001558370-25-002849.md) | [(10.4)](/filings/0001558370-25-007648.md) | [(9.4)](/filings/0001558370-25-011141.md) | [(9.4)](/filings/0001104659-25-109689.md) | [(12.4) d](/filings/0001104659-26-032415.md) | [(20.8)](/filings/0001104659-26-059752.md) | [(13.0)](/filings/0001104659-26-094435.md) | [(11.9)](/filings/0001104659-25-109689.md) | [(17.4) d](/filings/0001104659-26-032415.md) | [(26.1)](/filings/0001104659-26-059752.md) | [(28.6)](/filings/0001104659-26-094435.md) |
| Diluted EPS | $ per share | [(0.35)](/filings/0001558370-24-015147.md) | not reported | [(0.21)](/filings/0001558370-25-007648.md) | [(0.14)](/filings/0001558370-25-011141.md) | [(0.14)](/filings/0001104659-25-109689.md) | not reported | [(0.31)](/filings/0001104659-26-059752.md) | [(0.20)](/filings/0001104659-26-094435.md) | [(0.12)](/filings/0001104659-25-109689.md) | not reported | [(0.20)](/filings/0001104659-26-059752.md) | [(0.21)](/filings/0001104659-26-094435.md) |
| Basic EPS | $ per share | [(0.35)](/filings/0001558370-24-015147.md) | not reported | [(0.21)](/filings/0001558370-25-007648.md) | [(0.14)](/filings/0001558370-25-011141.md) | [(0.14)](/filings/0001104659-25-109689.md) | not reported | [(0.31)](/filings/0001104659-26-059752.md) | [(0.20)](/filings/0001104659-26-094435.md) | [(0.12)](/filings/0001104659-25-109689.md) | not reported | [(0.20)](/filings/0001104659-26-059752.md) | [(0.21)](/filings/0001104659-26-094435.md) |

- Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
- Cost of revenue: us-gaap:CostOfGoodsAndServicesSold
- Research and development: us-gaap:ResearchAndDevelopmentExpense
- Selling, general and administrative: us-gaap:SellingGeneralAndAdministrativeExpense
- Operating income: us-gaap:OperatingIncomeLoss
- Interest expense: us-gaap:InterestExpense, us-gaap:InterestExpenseNonoperating
- Income tax: not reported
- 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 | [9.9](/filings/0001558370-23-018665.md) | [13.8](/filings/0001558370-25-002849.md) | [10.1](/filings/0001558370-24-007860.md) | [13.3](/filings/0001558370-24-011603.md) | [12.8](/filings/0001558370-24-015147.md) | [25.3](/filings/0001104659-26-032415.md) | [45.1](/filings/0001558370-25-007648.md) | [42.5](/filings/0001558370-25-011141.md) | [46.7](/filings/0001104659-25-109689.md) | [73.0](/filings/0001104659-26-094435.md) | [71.3](/filings/0001104659-26-059752.md) | [170](/filings/0001104659-26-094435.md) |
| Current assets | $m | [84.8](/filings/0001558370-23-018665.md) | [73.0](/filings/0001558370-25-002849.md) | [94.0](/filings/0001558370-24-007860.md) | [87.4](/filings/0001558370-24-011603.md) | [81.0](/filings/0001558370-24-015147.md) | [73.9](/filings/0001104659-26-032415.md) | [60.5](/filings/0001558370-25-007648.md) | [46.2](/filings/0001558370-25-011141.md) | [86.7](/filings/0001104659-25-109689.md) | [112](/filings/0001104659-26-094435.md) | [192](/filings/0001104659-26-059752.md) | [180](/filings/0001104659-26-094435.md) |
| Total assets | $m | [87.1](/filings/0001558370-23-018665.md) | [75.2](/filings/0001558370-25-002849.md) | [96.0](/filings/0001558370-24-007860.md) | [89.2](/filings/0001558370-24-011603.md) | [82.7](/filings/0001558370-24-015147.md) | [75.5](/filings/0001104659-26-032415.md) | [61.9](/filings/0001558370-25-007648.md) | [47.4](/filings/0001558370-25-011141.md) | [87.8](/filings/0001104659-25-109689.md) | [114](/filings/0001104659-26-094435.md) | [194](/filings/0001104659-26-059752.md) | [182](/filings/0001104659-26-094435.md) |
| Current liabilities | $m | [8.1](/filings/0001558370-23-018665.md) | [7.2](/filings/0001558370-25-002849.md) | [4.1](/filings/0001558370-24-007860.md) | [4.6](/filings/0001558370-24-011603.md) | [5.3](/filings/0001558370-24-015147.md) | [8.1](/filings/0001104659-26-032415.md) | [13.0](/filings/0001558370-25-007648.md) | [9.3](/filings/0001558370-25-011141.md) | [10.5](/filings/0001104659-25-109689.md) | [14.0](/filings/0001104659-26-094435.md) | [20.9](/filings/0001104659-26-059752.md) | [22.2](/filings/0001104659-26-094435.md) |
| Total liabilities | $m | [58.6](/filings/0001558370-23-018665.md) | [58.5](/filings/0001558370-25-002849.md) | [56.1](/filings/0001558370-24-007860.md) | [57.3](/filings/0001558370-24-011603.md) | [58.7](/filings/0001558370-24-015147.md) | [62.4](/filings/0001104659-26-032415.md) | [68.0](/filings/0001558370-25-007648.md) | [65.2](/filings/0001558370-25-011141.md) | [67.2](/filings/0001104659-25-109689.md) | [71.8](/filings/0001104659-26-094435.md) | [158](/filings/0001104659-26-059752.md) | [163](/filings/0001104659-26-094435.md) |
| Long-term debt | $m | [48.9](/filings/0001558370-23-018665.md) | [49.8](/filings/0001558370-25-002849.md) | [50.6](/filings/0001558370-24-007860.md) | [51.5](/filings/0001558370-24-011603.md) | [52.4](/filings/0001558370-24-015147.md) | [53.4](/filings/0001104659-26-032415.md) | [54.3](/filings/0001558370-25-007648.md) | [55.2](/filings/0001558370-25-011141.md) | [56.2](/filings/0001104659-25-109689.md) | [57.2](/filings/0001104659-26-094435.md) | [58.2](/filings/0001104659-26-059752.md) | [59.2](/filings/0001104659-26-094435.md) |
| Shareholders' equity | $m | [28.5](/filings/0001558370-24-015147.md) | [16.8](/filings/0001104659-26-032415.md) | [39.9](/filings/0001558370-25-011141.md) | [32.0](/filings/0001104659-25-109689.md) | [24.0](/filings/0001104659-25-109689.md) | [13.1](/filings/0001104659-26-094435.md) | [(6.1)](/filings/0001104659-26-094435.md) | [(17.7)](/filings/0001104659-26-094435.md) | [20.5](/filings/0001104659-25-109689.md) | [41.8](/filings/0001104659-26-094435.md) | [36.0](/filings/0001104659-26-094435.md) | [18.2](/filings/0001104659-26-094435.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:LongTermDebt
- 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 | [(12.2) d](/filings/0001558370-24-015147.md) | [(9.8) d](/filings/0001558370-25-002849.md) | [(8.9)](/filings/0001558370-25-007648.md) | [(6.1) d](/filings/0001558370-25-011141.md) | [(7.0) d](/filings/0001104659-25-109689.md) | [(6.8) d](/filings/0001104659-26-032415.md) | [(14.0)](/filings/0001104659-26-059752.md) | [(12.6) d](/filings/0001104659-26-094435.md) | [(9.7) d](/filings/0001104659-25-109689.md) | [(12.8) d](/filings/0001104659-26-032415.md) | [(16.1)](/filings/0001104659-26-059752.md) | [(22.7) d](/filings/0001104659-26-094435.md) |
| Capital expenditure | $m | [0.0 d](/filings/0001558370-24-015147.md) | [0.0 d](/filings/0001558370-25-002849.md) | not reported | not reported | [0.0 d](/filings/0001104659-25-109689.md) | [0.0 d](/filings/0001104659-26-032415.md) | [0.0](/filings/0001104659-26-059752.md) | [0.0 d](/filings/0001104659-26-094435.md) | [0.0 d](/filings/0001104659-25-109689.md) | [0.3 d](/filings/0001104659-26-032415.md) | [0.0](/filings/0001104659-26-059752.md) | [0.0 d](/filings/0001104659-26-094435.md) |

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

Shares outstanding: 124,497,980 at 2026-08-12, from the cover of the [10-Q filed 2026-08-12](/filings/0001104659-26-094435.md) (dei:EntityCommonStockSharesOutstanding).

Source: SEC EDGAR, XBRL company facts. Last ingested by Listed: Oct 24, 2026, 15:39 ET. No prices; not investment advice.