• Income Statement
• Balance Sheet
• Cash Flow
• Ratios
• Market Data
• Valuation

	Transcode Therapeutics, Inc. (RNAZ)
	Q2-CY2026	Q1-CY2026	Q4-CY2025	Q3-CY2025	Q2-CY2025	Q1-CY2025	Q4-CY2024	Q3-CY2024	Q2-CY2024	Q1-CY2024	Q4-CY2023	Q3-CY2023	Q2-CY2023	Q1-CY2023	Q4-CY2022	Q3-CY2022	Q2-CY2022	Q1-CY2022	Q4-CY2021	Q3-CY2021	Q2-CY2021	Q1-CY2021	Q4-CY2020	Q3-CY2020	Q2-CY2020	Q1-CY2020	Q4-CY2019	Q3-CY2019	Q2-CY2019	Q1-CY2019	Q4-CY2018	Q3-CY2018	Q2-CY2018	Q1-CY2018	Q4-CY2017	Q3-CY2017	Q2-CY2017	Q1-CY2017	Q4-CY2016	Q3-CY2016	Q2-CY2016	Q1-CY2016	Q4-CY2015	Q3-CY2015	Q2-CY2015	Q1-CY2015	Q4-CY2014	Q3-CY2014	Q2-CY2014
Balance Sheet Date			2025-Dec-31	2025-Sep-30	2025-Jun-30	2025-Mar-31	2024-Dec-31	2024-Sep-30	2024-Jun-30	2024-Mar-31	2023-Dec-31	2023-Sep-30	2023-Jun-30	2023-Mar-31	2022-Dec-31	2022-Sep-30	2022-Jun-30	2022-Mar-31	2021-Dec-31	2021-Sep-30	2021-Jun-30
Fiscal Period			Q4-FY2025	Q3-FY2025	Q2-FY2025	Q1-FY2025	Q4-FY2024	Q3-FY2024	Q2-FY2024	Q1-FY2024	Q4-FY2023	Q3-FY2023	Q2-FY2023	Q1-FY2023	Q4-FY2022	Q3-FY2022	Q2-FY2022	Q1-FY2022	Q4-FY2021	Q3-FY2021	Q2-FY2021
Close Price of Common Stock	9.94$	8.55$	6.65$	10.32$	8.10$	0.49$	3.40$	0.57$	0.96$	0.65$	0.17$	0.50$	2.27$	0.32$	0.65$	1.21$	1.29$	2.65$	2.53$	3.00$
Market Cap of Common Stock	9,114,662$	7,840,076$	6,093,252$	8,599,440$	189,064,822$	8,529,235$	58,703,237$	9,882,863$	6,357,833$	13,103,633$	3,318,113$	1,012,837$	38,586,672$	4,163,097$	8,405,354$	15,637,567$	16,740,632$	34,197,121$	32,648,572$	38,713,722$
QoQ%	16.26%	28.67%	(29.14%)	(95.45%)	2,116.67%	(85.47%)	493.99%	55.44%	(51.48%)	294.91%	227.61%	(97.38%)	826.87%	(50.47%)	(46.25%)	(6.59%)	(51.05%)	4.74%	(15.67%)
YoY%	(95.18%)	(8.08%)	(89.62%)	(12.99%)	2,873.73%	(34.91%)	1,669.18%	875.76%	(83.52%)	214.76%	(60.52%)	(93.52%)	130.50%	(87.83%)	(74.26%)	(59.61%)
Common Shares Outstanding	916,968		916,968	833,683	833,683	23,341,336	36,753	17,265,658	7,265,658	5,808,053	19,014	10,687,724	1,950,674	15,823,534	16,222	12,977,234	12,977,234	12,977,234	12,904,574	12,904,574	4,636,216	4,636,216	4,636,216	4,636,216	4,636,216
QoQ%			9.99%	.00%	(96.43%)	63,408.66%	(99.79%)	137.63%	25.10%	30,446.19%	(99.82%)	447.90%	(87.67%)	97,443.67%	(99.88%)	.00%	.00%	.56%	.00%	178.34%	.00%	.00%	.00%	.00%
YoY%	9.99%		2,394.95%	(95.17%)	(88.53%)	301.88%	93.29%	61.55%	272.47%	(63.30%)	17.21%	(17.64%)	(84.97%)	21.93%	(99.87%)	.56%	179.91%	179.91%	178.34%	178.34%	.00%
Price to Sales
Price to Earnings	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Price to Book	.88x	.76x	.59x	6.03x	30.75x	.83x	-	5.98x	4.81x	2.86x	2.02x	.23x	18.44x	-	2.59x	1.90x	1.35x	2.01x	1.60x	1.67x
Total Revenue
QoQ%
YoY%
TTM
TTM_QoQ%
TTM_YoY%
Gross Margin
QoQ
YoY
Operating Income			(16,026,557$)	(4,561,200$)	(4,221,134$)	(3,171,179$)	(5,092,388$)	(2,165,412$)	(5,113,916$)	(3,288,982$)	(4,097,588$)	(5,310,252$)	(5,122,993$)	(4,887,684$)	(5,495,473$)	(4,953,560$)	(4,707,293$)	(3,477,502$)	(2,986,234$)	(2,359,909$)	(355,528$)	(449,465$)	(379,001$)	(239,491$)	(91,605$)
QoQ%			(251.37%)	(8.06%)	(33.11%)	37.73%	(135.17%)	57.66%	(55.49%)	19.73%	22.84%	(3.66%)	(4.81%)	11.06%	(10.94%)	(5.23%)	(35.36%)	(16.45%)	(26.54%)	(563.78%)	20.90%	(18.59%)	(58.25%)	(161.44%)
YoY%			(214.72%)	(110.64%)	17.46%	3.58%	(24.28%)	59.22%	.18%	32.71%	25.44%	(7.20%)	(8.83%)	(40.55%)	(84.03%)	(109.91%)	(1,224.03%)	(673.70%)	(687.92%)	(885.39%)	(288.11%)
TTM			(27,980,070$)	(17,045,901$)	(14,650,113$)	(15,542,895$)	(15,660,698$)	(14,665,898$)	(17,810,738$)	(17,819,815$)	(19,418,517$)	(20,816,402$)	(20,459,710$)	(20,044,010$)	(18,633,828$)	(16,124,589$)	(13,530,938$)	(9,179,173$)	(6,151,136$)	(3,543,903$)	(1,423,485$)	(1,159,562$)
TTM_QoQ%			(64.15%)	(16.35%)	5.74%	.75%	(6.78%)	17.66%	.05%	8.23%	6.72%	(1.74%)	(2.07%)	(7.57%)	(15.56%)	(19.17%)	(47.41%)	(49.23%)	(73.57%)	(148.96%)	(22.76%)
TTM_YoY%			(78.66%)	(16.23%)	17.75%	12.78%	19.35%	29.55%	12.95%	11.10%	(4.21%)	(29.10%)	(51.21%)	(118.36%)	(202.93%)	(355.00%)	(850.55%)	(691.61%)
Operating Margin
QoQ
YoY
Net Income			(13,443,110$)	(4,856,051$)	(4,276,502$)	(12,085,413$)	(5,915,958$)	(2,321,387$)	(5,190,814$)	(3,326,812$)	(4,087,547$)	(5,299,962$)	(4,341,652$)	(4,816,934$)	(5,134,056$)	(4,289,610$)	(4,671,232$)	(3,470,070$)	(2,799,259$)	(2,329,706$)	2,770,904$	(4,485,338$)	(801,531$)	(1,373,904$)	(127,198$)
QoQ%			(176.83%)	(13.55%)	64.61%	(104.29%)	(154.85%)	55.28%	(56.03%)	18.61%	22.88%	(22.07%)	9.87%	6.18%	(19.69%)	8.17%	(34.62%)	(23.96%)	(20.16%)	(184.08%)	161.78%	(459.60%)	41.66%	(980.13%)
YoY%			(127.24%)	(109.19%)	17.61%	(263.27%)	(44.73%)	56.20%	(19.56%)	30.94%	20.38%	(23.55%)	7.06%	(38.81%)	(83.41%)	(84.13%)	(268.58%)	22.64%	(249.24%)	(69.57%)	2,278.42%
TTM			(34,661,076$)	(27,133,924$)	(24,599,260$)	(25,513,572$)	(16,754,971$)	(14,926,560$)	(17,905,135$)	(17,055,973$)	(18,546,095$)	(19,592,604$)	(18,582,252$)	(18,911,832$)	(17,564,968$)	(15,230,171$)	(13,270,267$)	(5,828,131$)	(6,843,399$)	(4,845,671$)	(3,889,869$)	(6,787,971$)
TTM_QoQ%			(27.74%)	(10.30%)	3.58%	(52.28%)	(12.25%)	16.64%	(4.98%)	8.04%	5.34%	(5.44%)	1.74%	(7.67%)	(15.33%)	(14.77%)	(127.69%)	14.84%	(41.23%)	(24.57%)	42.70%
TTM_YoY%			(106.87%)	(81.78%)	(37.39%)	(49.59%)	9.66%	23.82%	3.64%	9.81%	(5.59%)	(28.64%)	(40.03%)	(224.49%)	(156.67%)	(214.31%)	(241.15%)	14.14%
Profit Margin
QoQ
YoY
Equity to Common Shareholders			10,335,466$	1,425,979$	6,147,706$	10,292,698$	(2,018,734$)	1,652,165$	1,322,274$	4,584,295$	1,640,814$	4,439,894$	2,092,463$	(236,792$)	3,240,696$	8,244,197$	12,428,205$	17,000,838$	20,404,346$	23,155,120$	(5,036,081$)	(7,845,139$)	(3,408,232$)	(2,619,365$)	(1,276,844$)
QoQ			8,909,487$	(4,721,727$)	(4,144,992$)	12,311,432$	(3,670,899$)	329,891$	(3,262,021$)	2,943,481$	(2,799,080$)	2,347,431$	2,329,255$	(3,477,488$)	(5,003,501$)	(4,184,008$)	(4,572,633$)	(3,403,508$)	(2,750,774$)	28,191,201$	2,809,058$	(4,436,907$)	(788,867$)	(1,342,521$)
QoQ%			624.80%	(76.81%)	(40.27%)	609.86%	(222.19%)	24.95%	(71.16%)	179.39%	(63.04%)	112.19%	983.67%	(107.31%)	(60.69%)	(33.67%)	(26.90%)	(16.68%)	(11.88%)	559.79%	35.81%	(130.18%)	(30.12%)	(105.14%)
YoY			12,354,200$	(226,186$)	4,825,432$	5,708,403$	(3,659,548$)	(2,787,729$)	(770,189$)	4,821,087$	(1,599,882$)	(3,804,303$)	(10,335,742$)	(17,237,630$)	(17,163,650$)	(14,910,923$)	17,464,286$	24,845,977$	23,812,578$	25,774,485$	(3,759,237$)
YoY%			611.98%	(13.69%)	364.93%	124.52%	(223.03%)	(62.79%)	(36.81%)	2,036.00%	(49.37%)	(46.15%)	(83.16%)	(101.39%)	(84.12%)	(64.40%)	346.78%	316.71%	698.68%	984.00%	(294.42%)
Dividends Paid
Additional Paid-In Capital QoQ			22,352,589$	134,324$	133,760$	24,394,515$	2,277,383$	2,650,278$	1,928,647$	6,269,714$	1,289,533$	7,646,519$	6,672,295$	1,337,866$	131,851$	105,602$	98,599$	66,555$	39,039$	30,520,172$
Treasury Stock
QoQ
Goodwill			25,744,143$
QoQ%
YoY%
Other Intangible Assets			114,300,000$
QoQ
Amortization of Intangible Assets
Total Assets			162,398,689$	5,226,682$	8,266,410$	13,194,375$	7,294,499$	3,936,105$	4,824,588$	7,290,467$	5,169,701$	10,227,846$	5,881,545$	5,590,510$	7,587,986$	12,015,573$	14,155,456$	18,850,017$	22,938,443$	25,359,852$	1,522,265$		1,055,368$
QoQ			157,172,007$	(3,039,728$)	(4,927,965$)	5,899,876$	3,358,394$	(888,483$)	(2,465,879$)	2,120,766$	(5,058,145$)	4,346,301$	291,035$	(1,997,476$)	(4,427,587$)	(2,139,883$)	(4,694,561$)	(4,088,426$)	(2,421,409$)	23,837,587$
YoY			155,104,190$	1,290,577$	3,441,822$	5,903,908$	2,124,798$	(6,291,741$)	(1,056,957$)	1,699,957$	(2,418,285$)	(1,787,727$)	(8,273,911$)	(13,259,507$)	(15,350,457$)	(13,344,279$)	12,633,191$		21,883,075$
Total Liabilities			10,518,687$	3,800,703$	2,118,704$	2,901,677$	9,313,233$	2,283,940$	3,502,314$	2,706,172$	3,528,887$	5,787,952$	3,789,082$	5,827,302$	4,347,290$	3,771,376$	1,727,251$	1,849,179$	2,534,097$	2,204,732$	6,558,346$		4,463,600$
QoQ			6,717,984$	1,681,999$	(782,973$)	(6,411,556$)	7,029,293$	(1,218,374$)	796,142$	(822,715$)	(2,259,065$)	1,998,870$	(2,038,220$)	1,480,012$	575,914$	2,044,125$	(121,928$)	(684,918$)	329,365$	(4,353,614$)
YoY			1,205,454$	1,516,763$	(1,383,610$)	195,505$	5,784,346$	(3,504,012$)	(286,768$)	(3,121,130$)	(818,403$)	2,016,576$	2,061,831$	3,978,123$	1,813,193$	1,566,644$	(4,831,095$)		(1,929,503$)
Current Ratio			6.29x	1.60x	5.27x	5.20x	2.56x	1.58x	1.25x	2.48x	1.28x	1.67x	1.39x	.80x	1.70x	3.07x	8.06x	10.08x	8.97x	11.43x	.35x		2.05x
Total Current Assets			21,983,865$	4,751,048$	8,241,721$	13,044,388$	7,093,338$	3,612,589$	4,386,421$	6,714,022$	4,455,444$	9,373,416$	4,892,937$	4,346,623$	7,379,405$	11,569,885$	13,920,783$	18,634,693$	22,732,175$	25,204,242$	540,219$		831,215$
QoQ			17,232,817$	(3,490,673$)	(4,802,667$)	5,951,050$	3,480,749$	(773,832$)	(2,327,601$)	2,258,578$	(4,917,972$)	4,480,479$	546,314$	(3,032,782$)	(4,190,480$)	(2,350,898$)	(4,713,910$)	(4,097,482$)	(2,472,067$)	24,664,023$
Total Current Liabilities			3,494,220$	2,967,828$	1,564,990$	2,509,677$	2,771,836$	2,283,940$	3,502,314$	2,706,172$	3,490,596$	5,598,186$	3,523,430$	5,449,489$	4,347,290$	3,771,376$	1,727,251$	1,849,179$	2,534,097$	2,204,732$	1,533,103$		404,862$
QoQ			526,392$	1,402,838$	(944,687$)	(262,159$)	487,896$	(1,218,374$)	796,142$	(784,424$)	(2,107,590$)	2,074,756$	(1,926,059$)	1,102,199$	575,914$	2,044,125$	(121,928$)	(684,918$)	329,365$	671,629$
Debt to Asset Ratio			.06x	.73x	.26x	.22x	1.28x	.58x	.73x	.37x	.68x	.57x	.64x	1.04x	.57x	.31x	.12x	.10x	.11x	.09x	4.31x		4.23x
Long Term Debt
QoQ
YoY
Capital Lease Obligations							38,291$	152,481$	227,246$	339,408$	450,571$	594,694$	663,293$	768,232$
Cash and Cash Equivalents			17,813,521$	2,835,916$	7,374,815$	11,569,154$	5,811,064$	1,875,862$	3,354,551$	4,913,676$	2,767,598$	7,452,934$	3,572,475$	1,622,657$	4,968,418$	8,790,540$	13,438,385$	16,852,626$	20,825,860$	22,499,856$	79,567$		828,016$
QoQ			14,977,605$	(4,538,899$)	(4,194,339$)	5,758,090$	3,935,202$	(1,478,689$)	(1,559,125$)	2,146,078$	(4,685,336$)	3,880,459$	1,949,818$	(3,345,761$)	(3,822,122$)	(4,647,845$)	(3,414,241$)	(3,973,234$)	(1,673,996$)	22,420,289$
YoY			12,002,457$	960,054$	4,020,264$	6,655,478$	3,043,466$	(5,577,072$)	(217,924$)	3,291,019$	(2,200,820$)	(1,337,606$)	(9,865,910$)	(15,229,969$)	(15,857,442$)	(13,709,316$)	13,358,818$		19,997,844$
Interest Expenses						114$	1,832$	10,792$	4,482$	9,706$	17,345$	17,282$	7,843$	13,429$					0$	333$	41,966$	52,770$	53,864$	280,277$	35,650$
Interest Income			78,757$	147$	148$	146$	159$	179$	178$	168$	137$	131$	246$	4,770$	9,636$	9,001$	1,331$	442$	510$	141$	1$	12$	22$	28$	57$

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