Keros Therapeutics, Inc.
For the period ended Dec 31, 2025. Filed Mar 4, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Mar 4, 2026
KROS$9.33+1.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(In thousands)
| YEAR ENDED DECEMBER 31, | ||
|---|---|---|
| 2025 | 2024 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net income (loss) | $87,014 | $(187,353) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Depreciation expense | 1,509 | 1,229 |
| Gain on disposal of fixed asset | (13) | — |
| Stock-based compensation expense | 28,696 | 34,872 |
| Non-cash lease expense | 2,410 | 1,820 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (825) | (2,599) |
| Prepaid expenses and other current assets | 4,018 | (10,217) |
| Current income tax receivable | (2,250) | — |
| Other assets | 2,056 | (4) |
| Accounts payable | (3,001) | (249) |
| Right-of-use assets and operating lease liabilities | (1,978) | (1,320) |
| Accrued expenses and other current liabilities | (10,131) | 2,952 |
| Net cash provided by (used in) operating activities | 107,505 | (160,869) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Purchase of property and equipment | (1,551) | (1,931) |
| Net cash used in investing activities | (1,551) | (1,931) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Proceeds from issuance of common stock, net of underwriting discounts | — | 151,340 |
| Payment of issuance costs | — | (283) |
| Proceeds from issuance of common stock under the ATM agreement, net of commissions | — | 228,794 |
| Payment of issuance costs associated with issuance of common stock under the ATM agreement | — | (171) |
| Proceeds from issuance of common stock under the employee stock purchase plan | 138 | — |
| Repurchase of treasury stock | (375,000) | — |
| Payment of direct expenses associated with the treasury stock repurchase | (3,897) | — |
| Short-swing profit settlement | 139 | — |
| Proceeds from exercise of stock options | 150 | 12,141 |
| Net cash provided by (used in) financing activities | (378,470) | 391,821 |
| NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | (272,516) | 229,021 |
| Cash, cash equivalents and restricted cash at beginning of year | 561,380 | 332,359 |
| Cash, cash equivalents and restricted cash at end of year | $288,864 | $561,380 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||
| Cash paid for taxes | $7,145 | $— |
| Property and equipment purchases in accounts payable and accrued expenses | $5 | $— |
| Treasury stock repurchase costs in accounts payable and accrued expenses | $5,661 | $— |
| Right-of-use assets obtained in exchange for operating lease obligation | $— | $5,737 |
The following table provides a reconciliation of the cash and cash equivalents and restricted cash as of each of the periods shown above:
| YEAR ENDED DECEMBER 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash and cash equivalents | $287,415 | $559,931 |
| Restricted cash | 1,449 | 1,449 |
| Total cash, cash equivalents and restricted cash | $288,864 | $561,380 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.