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Cartesian Therapeutics Valuation Multiples

Discover revenue and EBITDA valuation multiples for Cartesian Therapeutics and similar public comparables like Pharming, Galapagos, and Benevolent AI.

Cartesian Therapeutics Overview

About Cartesian Therapeutics

Cartesian Therapeutics Inc is a clinical-stage biopharmaceutical company. The company uses its ImmTOR immune tolerance platform, which is designed to give rise to antigen-specific immunity, mitigating unwanted immune responses. The company leverages its proprietary technology and manufacturing platform to introduce one or more mRNA molecules into cells to enhance their function.


Founded

2007

HQ

United States of America
Employees

66

Financials

LTM Revenue $28.6M

LTM EBITDA n/a

EV

$138M

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Cartesian Therapeutics Financials

Cartesian Therapeutics has a last 12-month revenue of $28.6M and a last 12-month EBITDA of n/a.

In the most recent fiscal year, Cartesian Therapeutics achieved revenue of $38.9M and an EBITDA of -$76.0M.

Cartesian Therapeutics expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Cartesian Therapeutics P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $26.0M $38.9M XXX XXX XXX
Gross Profit n/a n/a XXX XXX XXX
Gross Margin NaN% NaN% XXX XXX XXX
EBITDA -$235M -$76.0M XXX XXX XXX
EBITDA Margin -904% -195% XXX XXX XXX
Net Profit $35.4M -$220M XXX XXX XXX
Net Margin 136% -565% XXX XXX XXX
Net Debt n/a n/a XXX XXX XXX

Financial data powered by Morningstar, Inc.

Cartesian Therapeutics Stock Performance

As of April 15, 2025, Cartesian Therapeutics's stock price is $13.

Cartesian Therapeutics has current market cap of $337M, and EV of $138M.

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Cartesian Therapeutics Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$138M $337M XXX XXX XXX XXX $-4.08

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Cartesian Therapeutics Valuation Multiples

As of April 15, 2025, Cartesian Therapeutics has market cap of $337M and EV of $138M.

Cartesian Therapeutics's trades at 4.8x LTM EV/Revenue multiple, and n/a LTM EBITDA.

Analysts estimate Cartesian Therapeutics's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Cartesian Therapeutics Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $138M XXX XXX XXX
EV/Revenue 3.6x XXX XXX XXX
EV/EBITDA -1.8x XXX XXX XXX
P/E -4.3x XXX XXX XXX
P/E/Growth n/a XXX XXX XXX
EV/FCF -4.2x XXX XXX XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Cartesian Therapeutics Valuation Multiples

Cartesian Therapeutics's NTM/LTM revenue growth is -92%

Cartesian Therapeutics's revenue per employee for the last fiscal year averaged $0.6M, while opex per employee averaged $1.1M for the same period.

Over next 12 months, Cartesian Therapeutics's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Cartesian Therapeutics's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Cartesian Therapeutics Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 50% XXX XXX XXX XXX
EBITDA Margin -195% XXX XXX XXX XXX
EBITDA Growth -68% XXX XXX XXX XXX
Rule of 40 (SaaS-only) -287% XXX XXX XXX XXX
Revenue per Employee $0.6M XXX XXX XXX XXX
Opex per Employee $1.1M XXX XXX XXX XXX
S&M Expenses to Revenue n/a XXX XXX XXX XXX
G&A Expenses to Revenue 77% XXX XXX XXX XXX
R&D Expenses to Revenue 116% XXX XXX XXX XXX
Opex to Revenue 193% XXX XXX XXX XXX

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Cartesian Therapeutics Public Comps

See public comps and valuation multiples for Drug Development & Therapeutics and Vaccines & Immunotherapies comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Julphar XXX XXX XXX XXX XXX XXX
Benevolent AI XXX XXX XXX XXX XXX XXX
Galapagos XXX XXX XXX XXX XXX XXX
Pharming XXX XXX XXX XXX XXX XXX
Vivoryon Therapeutics XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Cartesian Therapeutics M&A and Investment Activity

Cartesian Therapeutics acquired  XXX companies to date.

Last acquisition by Cartesian Therapeutics was  XXXXXXXX, XXXXX XXXXX XXXXXX . Cartesian Therapeutics acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Cartesian Therapeutics

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Cartesian Therapeutics

When was Cartesian Therapeutics founded? Cartesian Therapeutics was founded in 2007.
Where is Cartesian Therapeutics headquartered? Cartesian Therapeutics is headquartered in United States of America.
How many employees does Cartesian Therapeutics have? As of today, Cartesian Therapeutics has 66 employees.
Who is the CEO of Cartesian Therapeutics? Cartesian Therapeutics's CEO is Dr. Carsten Brunn, PhD.
Is Cartesian Therapeutics publicy listed? Yes, Cartesian Therapeutics is a public company listed on NAS.
What is the stock symbol of Cartesian Therapeutics? Cartesian Therapeutics trades under RNAC ticker.
When did Cartesian Therapeutics go public? Cartesian Therapeutics went public in 2016.
Who are competitors of Cartesian Therapeutics? Similar companies to Cartesian Therapeutics include e.g. Julphar, Benevolent AI, Galapagos, Pharming.
What is the current market cap of Cartesian Therapeutics? Cartesian Therapeutics's current market cap is $337M
What is the current revenue of Cartesian Therapeutics? Cartesian Therapeutics's last 12-month revenue is $28.6M.
What is the current EV/Revenue multiple of Cartesian Therapeutics? Current revenue multiple of Cartesian Therapeutics is 4.8x.
What is the current revenue growth of Cartesian Therapeutics? Cartesian Therapeutics revenue growth between 2023 and 2024 was 50%.
Is Cartesian Therapeutics profitable? Yes, Cartesian Therapeutics is EBITDA-positive (as of the last 12 months).

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