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Clene (CLNN) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · Clene (CLNN) Q3 2026 earnings results →

Q3 2026 Revenue up 273% year over year to $56K

Clene made $56K in Q3 2026 (+273% Y/Y): Product $43K, Royalty $13K. Operating margin n/m, net earnings $3.9M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.

Revenue$56K
Year over year+273%
Operating marginn/m
Net earnings$3.9M
Operating cash flow−$4.6M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $56K in Q3 2026, up 273% year over year and down 38% from the previous quarter. Product was the largest line at 77% of revenue. Royalty declined 13%.

Operating costs exceeded revenue by $6.3M, an operating margin of -11333.9%. Total costs grew 13% against revenue growth of 273%. The fastest-growing cost line was Research & development (+27%). Net earnings were $3.9M. The effective tax rate was 0.0%. Non-operating items added $10.3M, 262% of pre-tax earnings, so the bottom line overstates operating performance.

Operating cash flow was −$4.6M. Non-cash charges added back $349K of depreciation and $1.1M of share-based compensation. Working capital and other items used $10.0M. Capital expenditures of $51K exceeded it, leaving free cash flow of −$4.7M.

Quarterly history

Clene revenue by quarterClene revenue by quarter$81KQ1 2025$27KQ2 2025$15KQ3 2025$77KQ4 2025$15KQ1 2026$90KQ2 2026$56KQ3 2026
Clene net earnings by quarterClene net earnings by quarter−$751KQ1 2025−$7.4MQ2 2025−$8.8MQ3 2025−$9.2MQ4 2025−$8.1MQ1 2026−$13.4MQ2 2026$3.9MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 4, 2026$56K+273%n/m$3.9M−$4.6M
Q2 202610-QAug 14, 2026$90K+233%n/m−$13.4M−$2.6M
Q1 202610-QMay 14, 2026$15K-82%n/m−$8.1M−$4.5M
Q4 202510-KMar 17, 2026$77K-15%n/m−$9.2M−$4.8M
Q3 202510-QNov 13, 2025$15K-83%n/m−$8.8M−$4.0M
Q2 202510-QAug 14, 2025$27K-70%n/m−$7.4M−$4.7M
Q1 202510-QMay 7, 2025$81K+11%n/m−$751K−$5.0M

Charts

Clene: revenue growth, year over year and quarter over quarterClene: revenue growth, year over year and quarter over quarterY/YQ/Q+11%Q1 2025-70%-67%Q2 2025-83%-44%Q3 2025-15%+400%Q4 2025-82%-81%Q1 2026+233%+400%Q2 2026+273%-38%Q3 2026
Latest (Q3 2026): Y/Y +273%, Q/Q -38%.
Clene: where the cash came from (+) and went (−), TTM to Q3 2026Clene: where the cash came from (+) and went (−), TTM to Q3 2026Other financing$18.9MOperating cash flow−$16.5MCash drawn (+) / kept (−)−$2.0MNet borrowing (+) / repaid (−)−$363KCapital spending−$80KExchange rates$76K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Clene: profit against cash, quarter by quarterClene: profit against cash, quarter by quarterNet incomeOperating cash flow−$13.5M−$4.9MQ4 2024−$751K−$5.0MQ1 2025−$7.4M−$4.7MQ2 2025−$8.8M−$4.0MQ3 2025−$9.2M−$4.8MQ4 2025−$8.1M−$4.5MQ1 2026−$13.4M−$2.6MQ2 2026$3.9M−$4.6MQ3 2026
Latest (Q3 2026): Net income $3.9M, Operating cash flow −$4.6M.
Clene: long-term debt falling due (FY2025)Clene: long-term debt falling due (FY2025)$4.3M2026$7.8M2027$5.0M2028$600KLater
Cash $5.2M, short-term investments —, long-term debt $17.8M at 2025-12-31.
Clene in its industry: growth against margin (225 companies, SIC 2834)Clene in its industry: growth against margin (225 companies, SIC 2834)revenue growth, year over year →↑ operating marginmedian +11%median -50%JNJLLYMRKABBVPFEBMYABTREGNTEVAVTRSVRTXBHCZTSONCOGNALNYELANJAZZBMRNPRGOAMRXUTHRRPRXNRIXINSMKeenova Therapeutics plcALKSMDGLPAHCSRPTPTCTINDVBBIOACADCORTPBHANIPKNSAPTGXHRMYIONSAXSMTGTXSUPNTVTXCOLLVREOFAMPHMIRMPCRXRARELQDAARQTIRWDARDXNATRXNCREBSZLABXERSINVACRMDMNKDRYTMURGNPHATAUPHSNDXRIGLLGNDEOLSARWRPGENHROWVNDAOPKSDGRGERNETONAGIOPBYITNGXCYRXCYTKMRVIORGONUVBLFVNSIGAKROSAMRNZVRASPRYHRTXAKBABCYCKPTIGYREMGNXELTPSEPNVRDNLFCRCrinetics Pharmaceuticals, Inc.VSTMKURATBPHLABADCTNAMSFBIOXLODERMARCTRMTIAYTUFHTXENTATNXPOCULASMBWVEAPMDBFRIABEOSTOKLXRXCAPRIDYANKTRZOMDFINBPJANXSBFMGOSSETSTRCUSCPIXLIFDCUEAQSTPRAXWHWKVERUEMMAGENBVRCACELUQUREZYMEEQABCLIMNMKYNBAKTSRNACVSICNTBTRAWISCOEVFMTVRDLPCNCAMPAtaiBeckley Inc.CTMXALMSPMHSACRSVTGNROIVKRROJAGXENSCKRSAABUSPRPHSTTKCPHITRDATXMDGOVXNWBOBIOEUPBIRDOVIDSPRBXBIOPRTAMCRBARVNMNOVSLNIGCBIOALGVNDNTHCPMDSPRORFLCOYASCYXBFRGSXTPBTAIQHCWBSERYARWRNACRGBPAVTXNTHIHINDAAGHALTONCOCRVOSKVIBOLTBDPTLYELIBOPULMCLNN (+273%, -100%)
Pharmaceutical Preparations; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Clene

We are a clinical-stage pharmaceutical company pioneering the discovery, development, and commercialization of novel clean-surfaced nanotechnology (“CSN ® ”) therapeutics. CSN ® therapeutics are comprised of atoms of transition elements that, when assembled in nanocrystal form, possess unusually high, unique catalytic activities not present in those same elements in bulk form. These catalytic activities drive, support, and maintain beneficial metabolic and energetic cellular reactions within diseased, stressed, and damaged cells. We believe that our patent-protected, proprietary position affords us the potential to develop a broad and deep pipeline of novel CSN therapeutics to address a range of diseases with high impact on human health.

In its own words, from its 10-K, filed Mar 17, 2026.

Clene against its Pharmaceutical Preparations peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +273% against the peers' median +10%.

CompanyQuarterRevenueY/YOp. margin
CLNN CleneQ3 2026$56K+273%n/m
JNJ Johnson & JohnsonQ3 2026$25.4B+6%0.1%
LLY ELI LillyQ3 2026$24.4B+39%34.5%
MRK MerckQ3 2026$18.1B+5%30.7%
ABBV AbbVieQ3 2026$17.4B+10%36.0%
PFE PfizerQ3 2026$16.6B-0.4%20.4%
BMY Bristol Myers SquibbQ3 2026$13.1B+7%19.4%
ABT Abbott LaboratoriesQ3 2026$13.0B+14%10.4%
REGN Regeneron PharmaceuticalsQ3 2026$5.1B+36%40.0%

Source: Clene 10-Q on SEC EDGAR · CIK 1822791 · Pharmaceutical Preparations

Guidance and outlook

Clene: what its forward-looking statements are about (10-Q filed 2026-11-04)Clene: what its forward-looking statements are about (10-Q filed 2026-11-04)Other12Products7Demand4Costs3Financing3Legal & regulation1Tax1
31 statements; tone +0.10 (−1 all cautious, +1 all confident); 12 hedged.
Clene: outlook statements against the filing beforeClene: outlook statements against the filing beforeConfident9Cautious6

13F: who owns CLNN and who is buying

Largest holders of CLNN (13F)Largest holders of CLNN (13F)Empery Asset Management, LP$5.6MScoggin Management LP$3.7MBoxer Capital Management, LLC$2.9MEnsign Peak Advisors$2.1MSymBiosis Capital Partners, LLC$2.1MVanguard Capital Management LLC$2.1MVanguard Group$1.3MGeode Capital Management, LLC$630KBlackRock$379KVanguard Fiduciary Trust$356K
Funds' net buying of CLNN by quarter (13F)Funds' net buying of CLNN by quarter (13F)$3.8M2024-09−$3.4M2024-12−$69K2025-03−$235K2025-06$1.2M2025-09$2.0M2025-12$600K2026-03$8.7M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on CLNN

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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中文版：Clene（CLNN）财报

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