eXoZymes (EXOZ) AI Stock Analysis

• Market Cap: N/A
• Dividend Yield: N/A
• Average Volume (3M): 2.40K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.01
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 31
• Sector: Technology
• Sector Strength: 88
• Industry: Biotechnology
• EPS (TTM): -0.27
• Shares Outstanding: 8,387,250
• 10 Day Avg. Volume: 1,191
• 30 Day Avg. Volume: 2,398
• PEG Ratio: -0.12
• Price to Book (P/B): 12.87
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -15.06
• Enterprise Value/Market Cap: 10.00T>
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -295.99
• Enterprise Value/Ebitda: -10.23
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 47 Neutral
• Price Target: $11.50 ▲(0.09% Upside)

The score is held down primarily by weak financial performance (pre-revenue, widening losses, and accelerating cash burn) and bearish technical signals (price below key moving averages with negative MACD). A positive offset comes from the recent production scale-up milestone, while valuation is difficult to interpret due to the company’s losses and negative P/E.

Positive Factors

Production Scale-Up

The scale-up milestone demonstrates the scalability and efficiency of eXoZymes' platform, supporting potential commercial validation and leadership in sustainable biomanufacturing.

Balance Sheet Health

A manageable debt level and positive equity indicate financial flexibility and a solid foundation for future growth, despite current losses.

Industry Leadership

The successful scale-up and collaboration with Cayman Chemical enhance eXoZymes' reputation and competitive position in the biomanufacturing industry.

Negative Factors

Widening Losses

The widening losses reflect ongoing operational challenges and the absence of revenue, which may pressure financial resources and delay profitability.

Cash Burn

Significant cash burn indicates reliance on external funding, which could limit strategic options and increase financial risk if not addressed.

Pre-Revenue Status

The lack of revenue generation underscores the company's early-stage status and the need for successful commercialization to achieve financial sustainability.

eXoZymes Business Overview & Revenue Model

Company Description

eXoZymes, Inc. operates as a synthetic biochemical company in the United States. The company develops SimplePath, a platform that produces chemicals, including pharmaceuticals, fuels, materials, food additives, and novel compounds. Its platform also comprises one or more module which consist of one or more enzymes that work together to perform a defined biocatalytic conversion. The company was founded in 2014 and is headquartered in Monrovia, California.

How the Company Makes Money

eXoZymes generates revenue through the sale of its enzyme products to industrial clients seeking to improve their processes' efficiency and sustainability. The company operates on a B2B model, offering tailored enzyme solutions that cater to specific industrial needs. Key revenue streams include direct sales of enzyme formulations, licensing agreements for proprietary enzyme technology, and strategic partnerships with industrial enterprises aiming to integrate eco-friendly solutions into their operations. Additionally, eXoZymes may engage in research collaborations with academic institutions, receiving funding to further develop its enzyme technologies, which can contribute to its earnings.

eXoZymes Financial Statement Overview

Summary

Financials reflect an early-stage, pre-revenue biotech profile: revenue remains at 0, losses widened in TTM versus 2024, and cash burn is significant and worsening (operating cash flow about -$10.2M TTM; free cash flow about -$10.5M TTM). The balance sheet is a relative bright spot with modest debt (~$1.32M) and positive equity (~$5.4M), but continued heavy losses keep overall financial strength constrained.

Income Statement

The company remains pre-revenue (revenue is 0 across annual periods and TTM (Trailing-Twelve-Months)), so losses are being driven by operating expenses rather than weak sales conversion. Losses have widened materially in TTM (Trailing-Twelve-Months) versus 2024 (net loss of about -$8.3M vs. -$5.9M), and gross profit is negative, indicating ongoing cost structure that is not yet supported by commercial revenue. While this profile can be normal for early-stage biotech, the current trajectory shows deteriorating profitability with no revenue inflection visible in the provided data.

Balance Sheet

Leverage appears manageable with total debt of ~$1.32M in TTM (Trailing-Twelve-Months) and a modest debt-to-equity ratio (~0.19), which supports financial flexibility. Total assets are ~$7.7M and equity is positive (~$5.4M) in TTM (Trailing-Twelve-Months), a meaningful improvement versus 2023 when equity was negative, suggesting successful recapitalization or balance sheet repair. The key weakness is continued heavy losses, reflected in strongly negative returns on equity in 2024 and TTM (Trailing-Twelve-Months), which can pressure the balance sheet over time if funding is not sustained.

Cash Flow

Cash burn is significant and worsening: operating cash flow is about -$10.2M in TTM (Trailing-Twelve-Months) versus -$8.5M in 2024, with free cash flow also deeply negative (~-$10.5M TTM). Free cash flow has been negative every year shown, consistent with a business still funding operations through external capital rather than internally generated cash. A positive item is that free cash flow tracks net losses relatively closely (free cash flow to net income near 1x), but the overall level of burn remains the dominant risk.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00
Gross Profit	-281.93K	-267.38K	0.00	-147.75K	-59.41K
EBITDA	-8.15M	-5.59M	-1.60M	-1.18M	-1.15M
Net Income	-8.34M	-5.86M	-2.04M	-1.40M	-1.21M
Balance Sheet
Total Assets	7.72M	13.03M	3.56M	2.69M	2.35M
Cash, Cash Equivalents and Short-Term Investments	5.10M	9.72M	66.53K	558.57K	547.81K
Total Debt	1.32M	1.39M	1.61M	608.77K	720.63K
Total Liabilities	2.34M	2.61M	3.94M	1.31M	1.15M
Stockholders Equity	5.37M	10.42M	-384.32K	1.37M	1.20M
Cash Flow
Free Cash Flow	-10.54M	-8.90M	-1.47M	-1.44M	-2.01M
Operating Cash Flow	-10.24M	-8.51M	-1.18M	-1.26M	-1.59M
Investing Cash Flow	-285.63K	-359.22K	-311.17K	-87.21K	-312.25K
Financing Cash Flow	15.39M	18.52M	1.00M	1.36M	2.31M

eXoZymes Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
EXOZ	47 Neutral	―	-10.44	―	―	―	―
BDRX	41 Neutral	$1.10M	-0.03	-60.37%	―	-100.00%	86.75%

eXoZymes Corporate Events

eXoZymes Achieves Major NCT Production Scale-Up

On December 11, 2025, eXoZymes Inc. announced a significant milestone in its production capabilities by achieving a 100-fold scale-up of N-trans-caffeoyltyramine (NCT) production using its proprietary exozyme-based platform. This achievement demonstrates near-perfect feedstock conversion and underscores the scalability and efficiency of eXoZymes’ cell-free biomanufacturing process. The successful scale-up, conducted in collaboration with Cayman Chemical, validates the commercial and scientific potential of exozymes, positioning eXoZymes as a leader in sustainable biomanufacturing solutions.

eXoZymes Releases Updated Investor Presentation

eXoZymes Inc. has released an updated investor presentation as of November 13, 2025, concerning its NCTx business. The update is likely to provide stakeholders with new insights into the company’s operations and strategic direction, potentially impacting its market positioning and investor relations.