WVEWave Life Sciences, Inc.
Pharmaceutical Preparations
- Revenue
- $43M
- 61% YoY
- Operating margin
- -504.1%
- 394% YoY
- EBITDA
- −$212M
- 99% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- AI in 10-K
- —
Red flags 1 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCFired58% of revenueOver 10% of revenue
- Payouts exceed cash flowClear0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear—Over 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $41M | $4M | $113M | $108M | $43M | 61% |
| Operating income | −$127M | −$163M | −$68M | −$110M | −$215M | 95% |
| Net income | −$122M | −$162M | −$58M | −$97M | −$204M | 111% |
| Operating cash flow | −$89M | −$128M | −$19M | −$151M | −$187M | 24% |
| Capex | $560K | $1M | $1M | $938K | $718K | 23% |
| Stock-based comp | $16M | $17M | $10M | $13M | $25M | 90% |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $12M | $19M | 216 | 66 |
| FY2024 | $4M | $17M | 157 | 37 |
| FY2023 | $4M | $2M | 64 | 43 |
| FY2022 | $3M | $6M | 89 | 48 |
| FY2021 | $4M | $1M | 40 | 77 |