ALMSALUMIS INC.
Pharmaceutical Preparations
- Revenue
- $24M
- Operating margin
- -1886.9%
- EBITDA
- −$450M
- 51% YoY
- Market cap
- $851M
- Employees
- —
- Net debt / EBITDA
- —
- AI in 10-K
- 0.8
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 1 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCYes181% of revenueOver 10% of revenue
- Payouts exceed cash flowNo-0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo—Over 40% of assets
- Shareholder dissentNo84% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AINo0.8 per 10K words · 30th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$851M market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DYes1 filingActive-intent 13D in 18 months
- Net insider sellingNo$60M netNet sales over $10M in 12 months
Financials
| Metric | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|
| Revenue | — | — | $24M | |
| Operating income | −$158M | −$301M | −$454M | 51% |
| Net income | −$155M | −$294M | −$243M | 17% |
| Operating cash flow | −$130M | −$255M | −$370M | 45% |
| Capex | $4M | $2M | $653K | 62% |
| Stock-based comp | $9M | $19M | $44M | 124% |
| Buybacks | $64K | $6K | $17K | 183% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Jul 2, 2026 | AyurMaya Capital Management Company, LP | SCHEDULE 13D/A | 12.3% | Passive |
| Apr 3, 2026 | Foresite Capital Fund VI LP | SCHEDULE 13D/A | 3.4% | Active |
| Jan 13, 2026 | Samsara BioCapital, L.P. | SCHEDULE 13D/A | 5.4% | Passive |
| Jan 12, 2026 | Foresite Capital Fund VI LP | SCHEDULE 13D/A | 14.1% | Passive |
| Nov 24, 2025 | Samsara BioCapital, L.P. | SCHEDULE 13D | 10.4% | Passive |
| Nov 17, 2025 | Samsara BioCapital, L.P. | SCHEDULE 13D/A | 5.4% | Passive |
| Jun 10, 2025 | Foresite Capital Fund VI LP | SCHEDULE 13D/A | 4.4% | Passive |
| May 23, 2025 | AyurMaya Capital Management Company, LP | SCHEDULE 13D/A | 15.8% | Passive |
| May 23, 2025 | Samsara BioCapital, L.P. | SCHEDULE 13D/A | 5.0% | Passive |
| May 7, 2025 | Foresite Capital Fund VI LP | SCHEDULE 13D/A | 9.0% | Passive |
Insider trading
- Open-market buys, 12 mo
- $62M · 40
- Open-market sells, 12 mo
- $2M · 9
- Net
- $60M
Pay vs performance
No pay-versus-performance disclosure yet.