CHRS

MKT CAP:$204M

Coherus Oncology, Inc.

Market Cap

$204M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$1.76+$0.39 (+28.47%)

Apr 23, 2026

Company Details

Coherus Oncology, Inc., a biopharmaceutical company, researches, develops, and commercializes immunotherapies to treat cancer in the United States. The company develops UDENYCA, a biosimilar to Neulasta, a long-acting granulocyte-colony sti...

CEO

Dennis Lanfear

IPO Date

Nov 6, 2014

Website

www.coherus.com

Key Metrics TTM

Revenue

$84M

-65.1% YoY

Net Income

$155M

EPS (Diluted)

-$1.62

Free Cash Flow

-$90M

Revenue / Share

$0.72

Gross Margin

47.8%

Operating Margin

-212.4%

Net Margin

185.4%

FCF Margin

-107.9%

P/S

2.4x

P/E

1.3x

Earnings Reports

Q4 2025

May 11, 2026

PENDING

Q3 2025

Nov 6, 2025

$12M-83.7%EPS -$0.30

Q2 2025

Aug 7, 2025

$10MEPS -$0.39

Q1 2025

May 12, 2025

$8M+229.2%EPS -$0.49

FY 2024

Mar 17, 2025

$267M+3.8%EPS $0.25

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 21	$83M	$61M	-$33M
Q4 21	$73M	$61M	-$40M
Q1 22	$60M	$51M	-$81M
Q2 22	$60M	$49M	-$44M
Q3 22	$45M	$10M	-$80M
Q4 22	$45M	$31M	-$51M
Q1 23	$32M	$16M	-$68M
Q2 23	$59M	$34M	-$35M
Q3 23	$75M	$42M	-$32M
Q4 23	$92M	$7M	-$69M
Q1 24	$2M	$869.0K	-$68M
Q3 24	$71M	$50M	-$6M
Q4 24	$54M	$20M	-$42M
Q1 25	$8M	$5M	-$45M
Q2 25	$10M	$7M	-$45M
Q3 25	$12M	$8M	-$44M

Valuation

Quarter	P/S	P/E
Q3 21	0.6x	—
Q4 21	0.6x	—
Q1 22	0.7x	—
Q2 22	0.7x	—
Q3 22	0.9x	—
Q4 22	1.0x	—
Q1 23	1.1x	—
Q2 23	1.1x	—
Q3 23	1.0x	—
Q4 23	0.8x	—
Q1 24	0.9x	—
Q3 24	0.9x	—
Q4 24	0.9x	—
Q1 25	1.5x	—
Q2 25	1.4x	1.1x
Q3 25	2.4x	1.3x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 21	$14M	$13M
Q4 21	-$52M	-$53M
Q1 22	-$54M	-$55M
Q2 22	-$50M	-$51M
Q3 22	-$37M	-$38M
Q4 22	-$100M	-$100M
Q1 23	-$69M	-$69M
Q2 23	-$39M	-$39M
Q3 23	-$54M	-$54M
Q4 23	-$13M	-$13M
Q1 24	-$47M	-$47M
Q3 24	-$62M	-$62M
Q4 24	$29M	$29M
Q1 25	-$26M	-$26M
Q2 25	-$47M	-$47M
Q3 25	-$46M	-$46M

Capital Expenditures

Quarter	CapEx
Q3 21	$261.0K
Q4 21	$468.0K
Q1 22	$615.0K
Q2 22	$880.0K
Q3 22	$457.0K
Q4 22	$87.0K
Q1 23	$152.0K
Q2 23	$100.0K
Q3 23	$0
Q4 23	$34.0K
Q1 24	$0
Q3 24	$0
Q4 24	$0
Q1 25	$0
Q2 25	$0
Q3 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 21	-27.3%	+44.4%
Q4 21	-33.6%	+20.1%
Q1 22	-27.6%	-43.7%
Q2 22	-31.4%	-6.8%
Q3 22	-44.9%	+9.2%
Q4 22	-38.2%	-14.2%
Q1 23	-46.0%	-29.0%
Q2 23	-2.4%	-10.5%
Q3 23	+64.2%	-15.3%
Q4 23	+101.8%	+65.7%
Q1 24	-92.9%	-30.0%
Q3 24	+20.5%	-17.3%
Q4 24	-27.4%	-9.6%
Q1 25	-91.7%	-66.9%
Q2 25	+344.3%	-20.5%
Q3 25	-83.7%	-27.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 21	$12M	14.5%
Q4 21	$0	0.0%
Q1 22	$13M	21.4%
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q4 22	$12M	25.9%
Q1 23	$12M	37.9%
Q2 23	$10M	17.2%
Q3 23	$10M	13.3%
Q4 23	$11M	11.8%
Q1 24	$7M	317.1%
Q3 24	$6M	9.1%
Q4 24	$6M	11.8%
Q1 25	$5M	70.7%
Q2 25	$5M	52.9%
Q3 25	$3M	29.3%

OpEx Breakdown

Quarter	R&D	SG&A
Q3 21	$54M	$40M
Q4 21	$51M	$50M
Q1 22	$83M	$49M
Q2 22	$42M	$51M
Q3 22	$46M	$45M
Q4 22	$29M	$54M
Q1 23	$34M	$49M
Q2 23	$23M	$45M
Q3 23	$26M	$48M
Q4 23	$26M	$49M
Q1 24	$28M	$40M
Q3 24	$22M	$35M
Q4 24	$21M	$41M
Q1 25	$24M	$26M
Q2 25	$26M	$26M
Q3 25	$27M	$23M

Revenue Segments

Quarter	Product	Product Revenue	Other	Product and Service, Other
Q3 21	$83M	—	—	—
Q4 21	—	$73M	—	—
Q1 22	—	$60M	—	—
Q1 23	—	$32M	$83.0K	—
Q2 23	—	$58M	$259.0K	—
Q3 23	—	$74M	$204.0K	—
Q3 24	$71M	—	—	$220.0K

Revenue by Geography

Quarter

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$326M	$0	$326M
Q2 22	$275M	$0	$275M
Q3 22	$287M	$0	$287M
Q4 22	$64M	$128M	$192M
Q1 23	$17M	$112M	$129M
Q2 23	$73M	$72M	$145M
Q3 23	$81M	$51M	$132M
Q4 23	$103M	$15M	$118M
Q1 24	$260M	$0	$260M
Q2 24	$159M	$0	$159M
Q3 24	$98M	$0	$98M
Q4 24	$126M	$0	$126M
Q1 25	$82M	$0	$82M
Q2 25	$217M	$21M	$238M
Q3 25	$103M	$88M	$192M
Q4 25	$89M	$83M	$172M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 21	79M	+4.6%	-9.7%
Q4 21	77M	-2.8%	-12.4%
Q1 22	77M	+0.6%	+6.1%
Q2 22	78M	+0.4%	+2.6%
Q3 22	78M	+0.2%	-1.6%
Q4 22	78M	+0.3%	+1.5%
Q1 23	79M	+1.7%	+2.6%
Q2 23	87M	+10.1%	+12.5%
Q3 23	98M	+12.0%	+25.7%
Q4 23	111M	+14.1%	+43.0%
Q1 24	126M	+12.6%	+58.4%
Q3 24	115M	-8.2%	+32.0%
Q4 24	115M	+0.2%	+18.1%
Q1 25	116M	+0.4%	+3.9%
Q2 25	116M	+0.2%	-7.5%
Q3 25	116M	+0.1%	+0.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 21	$260.3K	317
Q4 21	$221.0K	332
Q1 22	$181.1K	332
Q2 22	$181.2K	332
Q3 22	$136.8K	332
Q4 22	$126.3K	359
Q1 23	$90.4K	359
Q2 23	$163.6K	359
Q3 23	$207.7K	359
Q4 23	$299.1K	306
Q1 24	$7.5K	306
Q3 24	$231.3K	306
Q4 24	$176.9K	306
Q1 25	$24.8K	306
Q2 25	$33.5K	306
Q3 25	$37.8K	306

Revenue / Employee