Werewolf Therapeutics, Inc. (HOWL) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	21.0M	—	1.9M	19.9M	16.4M
Cost of Revenue	2.9M	1.6M	1.8M	1.8M	2.5M
Gross Profit	18.1M	(1.6M)	71.0K	18.2M	13.9M
Operating Expenses
R&D Expense	32.9M	44.8M	56.4M	41.8M	53.8M
SG&A Expense	19.3M	15.8M	19.0M	18.7M	21.5M
General & Admin Expense	19.3M	15.8M	19.0M	18.7M	17.3M
Selling & Marketing Expense	—	—	—	—	4.2M
Other Expenses	(8.5M)	(1.6M)	(1.8M)	(1.8M)	(5.3M)
Total Operating Expenses	43.7M	59.0M	73.7M	58.7M	69.9M
Cost and Expenses	46.6M	60.7M	75.5M	60.4M	72.5M
Operating Income (EBIT)	(25.6M)	(60.7M)	(73.6M)	(40.5M)	(56.1M)
Non-Operating
Interest Income	2.0M	3.1M	6.7M	7.4M	1.9M
Interest Expense	4.6M	5.3M	4.7M	3.1M	—
Net Interest Income	(2.6M)	(2.2M)	2.0M	4.3M	1.9M
Other Non-Op Income/Expense	(9.0M)	(145.0K)	3.1M	3.1M	2.2M
Non-Operating Income (excl Interest)	95.0K	(5.1M)	(7.7M)	(6.3M)	(2.2M)
EBT (Pre-Tax Income)	(34.6M)	(60.8M)	(70.5M)	(37.4M)	(53.8M)
Income Tax Expense	—	—	—	—	—
Bottom Line
Net Income	(34.6M)	(60.8M)	(70.5M)	(37.4M)	(53.8M)
Earnings from Cont. Ops	(34.6M)	(60.8M)	(70.5M)	(37.4M)	(53.8M)
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	(34.6M)	(60.8M)	(71.6M)	(37.4M)	(53.8M)
Per Share
Basic EPS	($0.73)	($1.32)	($1.63)	($1.05)	($1.86)
Diluted EPS	($0.73)	($1.33)	($1.63)	($1.05)	($1.86)
Revenue Per Share	$0.43	$0.00	$0.04	$0.56	$0.57
Shares
Basic Shares Outstanding	48.6M	46.0M	43.3M	35.6M	28.9M
Diluted Shares Outstanding	48.6M	46.8M	43.9M	35.6M	28.9M
Profitability Metrics
EBITDA	(22.0M)	(53.9M)	(64.0M)	(32.5M)	(51.3M)
D&A	3.7M	1.6M	1.8M	1.8M	2.5M
EBIT	(25.7M)	(55.5M)	(65.9M)	(34.2M)	(53.8M)

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Jun 1, 2026