CING

MKT CAP:$31M

Cingulate Inc.

Market Cap

$31M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$5.62+$1.24 (+28.31%)

Apr 23, 2026

Company Details

Cingulate Inc., a clinical-stage biopharmaceutical company, focuses on the development of product candidates for the treatment of attention-deficit/hyperactivity disorder. The company's lead product candidates are CTx-1301 (dexmethylphenida...

CEO

Shane J. Schaffer

IPO Date

Dec 8, 2021

Website

www.cingulate.com

Key Metrics TTM

Revenue

$0

— YoY

Net Income

-$22M

EPS (Diluted)

-$5.28

Free Cash Flow

-$18M

Revenue / Share

$0.00

Gross Margin

—

Operating Margin

—

Net Margin

—

FCF Margin

—

P/S

—

P/E

—

Earnings Reports

Q4 2025

May 14, 2026

PENDING

FY 2025

Mar 18, 2026

$0EPS -$4.13

Q3 2025

Nov 13, 2025

$0EPS -$1.35

Q2 2025

Aug 19, 2025

$0EPS -$1.09

Q1 2025

May 8, 2025

$0EPS -$1.04

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 21	$0	-$1M	-$15M
Q4 21	$0	-$1M	-$3M
Q1 22	$0	-$101.4K	-$5M
Q2 22	$0	-$101.4K	-$4M
Q3 22	$0	-$101.4K	-$4M
Q4 22	$0	-$149.9K	-$4M
Q1 23	$0	$0	-$4M
Q2 23	$0	-$155.3K	-$6M
Q3 23	$0	-$154.7K	-$6M
Q4 23	$0	-$172.3K	-$7M
Q1 24	$0	-$163.6K	-$3M
Q2 24	$0	-$163.8K	-$3M
Q4 24	$0	-$160.3K	-$6M
Q1 25	$0	-$165.3K	-$4M
Q2 25	$0	-$147.0K	-$5M
Q3 25	$0	-$106.8K	-$6M

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 21	-$3M	-$3M
Q4 21	-$5M	-$5M
Q1 22	-$4M	-$4M
Q2 22	-$4M	-$4M
Q3 22	-$3M	-$3M
Q4 22	-$4M	-$4M
Q1 23	-$4M	-$4M
Q2 23	-$5M	-$5M
Q3 23	-$4M	-$4M
Q4 23	-$3M	-$3M
Q1 24	-$9M	-$9M
Q2 24	-$2M	-$2M
Q4 24	-$4M	-$4M
Q1 25	-$5M	-$5M
Q2 25	-$5M	-$5M
Q3 25	-$4M	-$4M

Capital Expenditures

Quarter	CapEx
Q3 21	$15.8K
Q4 21	$710.0K
Q1 22	$10.4K
Q2 22	$0
Q3 22	$0
Q4 22	$143.0K
Q1 23	$37.1K
Q2 23	$1
Q3 23	$5
Q4 23	$187.0K
Q1 24	$81.5K
Q2 24	$72.6K
Q4 24	$198.5K
Q1 25	$0
Q2 25	$5.9K
Q3 25	$4

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 21	—	+1293.2%
Q4 21	—	+129.6%
Q1 22	—	+276.6%
Q2 22	—	+184.6%
Q3 22	—	-74.0%
Q4 22	—	+69.1%
Q1 23	—	-23.1%
Q2 23	—	+57.1%
Q3 23	—	+44.9%
Q4 23	—	+51.9%
Q1 24	—	-23.4%
Q2 24	—	-49.6%
Q4 24	—	+8.0%
Q1 25	—	-45.5%
Q2 25	—	+57.7%
Q3 25	—	+87.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 21	$12.7K	—
Q4 21	$43.8K	—
Q1 22	$181.5K	—
Q2 22	$207.2K	—
Q3 22	$205.7K	—
Q4 22	$206.4K	—
Q1 23	$204.5K	—
Q2 23	$217.4K	—
Q3 23	$236.3K	—
Q4 23	$154	—
Q1 24	$164.6K	—
Q2 24	$376.8K	—
Q4 24	$60.3K	—
Q1 25	$357.6K	—
Q2 25	$187.4K	—
Q3 25	$0	—

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q3 21	$6M	$1M	$109.0K	—
Q4 21	$1M	$1M	$162.0K	—
Q1 22	$3M	—	—	$2M
Q2 22	$2M	—	—	$2M
Q3 22	$2M	—	—	$2M
Q4 22	$2M	—	—	$2M
Q1 23	$2M	$2M	—	—
Q2 23	$4M	—	—	$2M
Q3 23	$4M	—	—	$2M
Q4 23	$5M	—	—	$2M
Q1 24	$2M	—	—	$977.6K
Q2 24	$2M	$1.3B	—	—
Q4 24	$4M	—	—	$2M
Q1 25	$2.2B	$1.5B	—	—
Q2 25	$2.7B	$1.9B	—	—
Q3 25	$3M	—	—	$3M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$13M	$933	$13M
Q2 22	$8M	$0	$8M
Q3 22	$10M	$0	$10M
Q4 22	$5M	$0	$5M
Q1 23	$2M	$0	$2M
Q2 23	$349.8K	$0	$349.8K
Q3 23	$2M	$0	$2M
Q4 23	$52.4K	$0	$52.4K
Q1 24	$1M	$0	$1M
Q2 24	$380.9K	$0	$380.9K
Q3 24	$10M	$0	$10M
Q4 24	$12M	$0	$12M
Q1 25	$10M	$0	$10M
Q2 25	$9M	$0	$9M
Q3 25	$6M	$0	$6M
Q4 25	$11M	$0	$11M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 21	1M	0.0%	0.0%
Q4 21	1M	-27.2%	-27.2%
Q1 22	1M	+37.4%	0.0%
Q2 22	1M	0.0%	0.0%
Q3 22	1M	0.0%	0.0%
Q4 22	1M	0.0%	+37.4%
Q1 23	1M	+0.0%	+0.0%
Q2 23	1M	+3.4%	+3.4%
Q3 23	2M	+69.0%	+74.8%
Q4 23	3M	+18.1%	+106.5%
Q1 24	2M	-29.4%	+45.8%
Q2 24	3M	+42.3%	+100.5%
Q4 24	3M	+16.1%	+37.7%
Q1 25	4M	+7.2%	+24.9%
Q2 25	4M	+20.4%	+113.0%
Q3 25	5M	+23.7%	+85.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 21	—	—
Q4 21	$0	16
Q1 22	$0	16
Q2 22	$0	16
Q3 22	$0	16
Q4 22	$0	15
Q1 23	$0	15
Q2 23	$0	15
Q3 23	$0	15
Q4 23	$0	13
Q1 24	$0	13
Q2 24	$0	13
Q4 24	$0	13
Q1 25	$0	13
Q2 25	$0	13
Q3 25	$0	13

Revenue / Employee