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Axsome Therapeutics, Inc. (AXSM) Annual Reports

Q: Where can I read Axsome Therapeutics, Inc. (AXSM) annual reports?

Every year on this page links straight to the full text on SEC EDGAR. US annual reports are web pages (HTML) rather than PDFs, so you can read and search them in the browser. 3 filings are currently indexed.

Q: What is the difference between a 10-K and a 20-F?

A 10-K is the annual report of a US domestic issuer; a 20-F is filed by foreign private issuers (Taiwanese companies with US ADRs, such as TSMC, file 20-F). A 40-F applies to Canadian issuers under the MJDS.

Axsome Therapeutics, Inc. is listed on Nasdaq, classified by the SEC under Pharmaceutical Preparations (SIC 2834). This page indexes 3 annual reports, each linking to the full text on the SEC's EDGAR system.

Company profile

Exchange： Nasdaq
Fiscal year end： 12/31
SEC CIK： 1579428 →

Website：Official site ↗

Financial Highlights

FY2026 Q3 (quarterly, ended 2026-09-30)
	Current	Prior year	YoY
Revenue	$259.7M	$171.0M	+51.9%
Operating income	$-11.1M	$-46.1M	+76.0%
Net income	$-12.9M	$-47.2M	+72.7%
EPS (diluted)	$-0.25	$-0.94	+73.4%

Source: SEC EDGAR (XBRL company facts)

Financial history

Revenue & profit

Quarterly · In mn (USD)

Revenue 260 mn Net income -12.9 mn

Show table：Income statement

Item	2014Q4	2015Q1	2015Q2	2015Q3	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2	2026Q3
Revenue	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0	0	—	—	8.82	16.9	24.4	94.6	46.7	57.8	71.5	75.0	87.2	105	119	121	150	171	196	191	218	260
Operating income	-5.67	-1.93	-2.08	-2.02	3.15	-5.88	-6.83	-7.21	7.63	-7.67	-6.75	-6.30	6.44	-7.16	-7.99	-8.24	9.45	-10.4	-13.4	-18.9	-24.4	-32.5	-17.8	-21.1	-27.7	-27.8	-30.9	-33.4	-32.6	-38.3	-39.2	-42.4	-59.9	-6.37	-65.1	-62.1	-98.3	-67.3	-78.0	-62.6	-72.6	-57.0	-36.7	-46.1	-27.0	-63.4	-49.6	-11.1
Net income	-6.00	-2.14	-2.13	-4.58	-3.36	-5.87	-6.81	-7.19	-7.33	-8.00	-7.08	-6.43	-7.43	-4.81	-8.28	-8.28	-9.60	-10.6	-13.8	-19.1	-24.8	-32.5	-18.3	-22.9	-29.2	-29.3	-32.3	-34.9	-34.0	-39.6	-41.4	-44.8	-61.2	-11.2	-67.2	-62.2	-98.7	-68.4	-79.3	-64.6	-74.9	-59.4	-48.0	-47.2	-28.6	-64.5	-51.3	-12.9

Balance sheet

Quarterly · In mn (USD)

Total assets 827 mn Total liabilities 721 mn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Show table：Balance sheet

Item	2014Q4	2015Q1	2015Q2	2015Q3	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2	2026Q3
Current assets	—	—	—	—	49.0	45.1	39.9	34.8	38.0	46.2	38.8	32.4	35.3	27.8	21.5	15.9	15.2	43.8	54.6	44.2	220	198	191	203	184	165	142	115	86.5	86.8	104	252	246	304	520	512	504	460	463	479	485	495	537	565	589	611	657	725
Total assets	—	—	—	—	49.1	45.1	40.0	34.9	38.2	46.4	39.0	32.6	35.6	27.9	21.7	16.1	15.4	43.9	54.8	44.4	221	198	191	204	186	167	143	117	87.8	88.6	181	339	331	389	612	601	588	546	548	561	569	597	640	669	690	714	761	827
Current liabilities	—	—	—	—	2.63	3.91	5.10	6.74	7.17	8.36	8.21	8.40	12.2	9.42	9.53	10.9	10.8	7.71	13.1	18.5	24.5	26.1	23.0	20.3	23.4	21.7	22.9	24.7	23.1	24.6	42.6	60.3	96.6	101	115	115	139	144	187	196	230	244	342	360	379	439	460	510
Total liabilities	—	—	—	—	2.63	—	—	—	16.6	17.1	16.3	15.8	18.8	15.3	14.7	15.4	14.4	26.5	30.5	37.6	41.8	41.6	36.8	68.4	72.3	70.6	71.8	73.9	72.2	73.9	165	182	222	277	333	331	397	402	445	469	511	543	567	596	602	659	678	721
Equity	-3.20	—	—	—	46.4	41.2	34.9	28.2	21.6	29.3	22.8	16.8	16.7	12.6	7.01	0.74	0.94	17.4	24.3	6.82	179	156	154	135	114	96.3	71.4	42.7	15.6	14.7	15.2	157	110	112	279	270	191	144	103	92.9	57.0	53.2	73.1	73.7	88.3	54.6	83.3	105

Cash flow

Quarterly · In mn (USD)

Operating -9.47 mn Investing -0.2 mn Financing 3.68 mn

Positive = cash in, negative = cash out.

Show table：Cash flow statement

Item	2014Q4	2015Q1	2015Q2	2015Q3	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2	2026Q3
Operating	-4.60	-1.16	-2.11	-1.92	-2.25	-3.95	-5.31	-4.80	-7.22	-6.64	-7.10	-6.45	-6.29	-6.68	-7.67	-5.91	-9.79	-9.50	-8.68	-10.6	-17.6	-23.3	-18.9	-15.7	-20.6	-27.2	-25.4	-26.8	-28.8	-32.6	-33.5	-22.8	-27.6	-5.82	-55.4	-53.5	-30.4	-53.5	-30.1	-18.6	-26.2	-43.4	-32.4	1.05	-18.6	-20.7	-33.0	-9.47
Investing	—	-0.01	0	0	0	-0.01	-0.01	-0.08	-0.01	0	0	0	0	-0.01	-0.01	-0.01	0	—	-0.01	0	0	-0.01	0	-0.01	-0.02	-0.03	-0.02	-0.26	0	-0.21	-53.2	-0.07	-0.18	-0.07	-0.13	-0.37	-0.01	-0.1	-0.05	-0.09	-0.03	-0.34	-0.01	-0.06	-0.07	-0.12	-0.45	-0.2
Financing	5.13	0.24	6.83	0.13	45.7	—	—	0.01	9.95	15.0	0.07	0.13	8.64	-0.69	1.40	0.79	8.54	38.1	19.8	0.52	194	0.63	12.3	27.4	2.09	8.03	1.97	0.44	0.69	31.1	75.5	177	1.07	51.6	246	33.4	0	-1.19	14.4	30.4	14.2	29.3	34.5	21.3	16.4	2.99	48.1	3.68
Cash at period end	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	220	—	—	—	184	165	141	115	86.5	84.7	73.4	228	201	247	437	417	386	331	316	327	315	301	303	325	323	305	320	314

Profitability

Quarterly · %

Operating margin -4.3% Net margin -5.0%

Gross, operating and net margin = the respective profit ÷ revenue.

Show table：Profitability

Item	2014Q4	2015Q1	2015Q2	2015Q3	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2	2026Q3
Operating margin	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	-444.2%	-251.8%	-245.8%	-6.7%	-139.3%	-107.5%	-137.4%	-89.7%	-89.5%	-59.8%	-61.1%	-46.9%	-24.5%	-27.0%	-13.8%	-33.1%	-22.7%	-4.3%
Net margin	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	-469.8%	-266.1%	-251.3%	-11.9%	-143.8%	-107.6%	-137.9%	-91.1%	-91.0%	-61.7%	-63.1%	-48.9%	-32.0%	-27.6%	-14.6%	-33.8%	-23.5%	-5.0%

Returns & leverage

Quarterly · %

ROE -175.6% ROA -21.0% Debt ratio 87.3%

ROE / ROA = trailing four-quarter net income ÷ average equity / total assets (annual mode: the year’s net income ÷ average of opening and closing). Not computed when the denominator is zero or negative.

Show table：Returns & leverage

Item	2014Q4	2015Q1	2015Q2	2015Q3	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2	2026Q3
ROE	—	—	—	—	-56.5%	-38.6%	-59.1%	-82.5%	-80.0%	-83.2%	-102.7%	-128.1%	-151.2%	-123.0%	-181.1%	-327.6%	-350.8%	-245.7%	-270.2%	-1404.7%	-76.1%	-104.0%	-106.2%	-138.7%	-70.4%	-79.0%	-100.7%	-141.1%	-201.5%	-253.7%	-346.1%	-159.8%	-299.0%	-250.9%	-125.5%	-94.6%	-159.2%	-231.7%	-161.7%	-171.6%	-231.6%	-282.2%	-280.7%	-275.5%	-252.1%	-349.4%	-245.1%	-175.6%
ROA	—	—	—	—	-24.9%	-35.3%	-51.5%	-66.5%	-62.3%	-64.1%	-74.9%	-85.4%	-78.5%	-69.3%	-88.7%	-118.2%	-121.6%	-102.5%	-110.5%	-175.5%	-57.9%	-74.6%	-77.1%	-79.5%	-50.6%	-54.7%	-68.0%	-78.4%	-95.2%	-110.2%	-92.6%	-70.2%	-89.3%	-66.5%	-46.6%	-43.0%	-52.0%	-63.4%	-53.2%	-53.5%	-49.7%	-48.7%	-41.6%	-37.3%	-29.1%	-28.7%	-27.4%	-21.0%
Debt ratio	—	—	—	—	5.4%	—	—	—	43.5%	36.9%	41.7%	48.4%	53.0%	55.0%	67.7%	95.4%	93.9%	60.4%	55.7%	84.7%	19.0%	21.1%	19.2%	33.6%	38.9%	42.3%	50.1%	63.4%	82.2%	83.4%	91.6%	53.6%	67.0%	71.3%	54.4%	55.1%	67.5%	73.6%	81.2%	83.5%	90.0%	91.1%	88.6%	89.0%	87.2%	92.3%	89.1%	87.3%

EPS

Quarterly · US$

EPS US$-0.25

Show table：EPS

Item	2014Q4	2015Q1	2015Q2	2015Q3	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	2025Q3	2025Q4	2026Q1	2026Q2	2026Q3
EPS（US$）	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	-2.77	—	-0.86	-0.93	-0.90	-1.03	-1.06	-1.07	-1.43	-0.26	-1.54	-1.32	-2.13	-1.44	-1.67	-1.34	-1.54	-1.22	-0.97	-0.94	-0.55	-1.26	-0.99	-0.25

Revenue & profit

Year-to-date · In mn (USD)

Revenue 669 mn Net income -129 mn

Year-to-date = summed from the first quarter of the fiscal year; balance-sheet items are period-end balances.

Balance sheet

Year-to-date · In mn (USD)

Total assets 827 mn Total liabilities 721 mn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Cash flow

Year-to-date · In mn (USD)

Operating -63.1 mn Investing -0.77 mn Financing 54.8 mn

Positive = cash in, negative = cash out.

Profitability

Year-to-date · %

Operating margin -18.5% Net margin -19.2%

Gross, operating and net margin = the respective profit ÷ revenue.

Returns & leverage

Year-to-date · %

ROE -175.6% ROA -21.0% Debt ratio 87.3%

EPS

Year-to-date · US$

EPS US$-2.50

Revenue & profit

Annual · In mn (USD)

Revenue 639 mn Net income -183 mn

Annual = sum of four quarters of a complete fiscal year (incomplete years are omitted); balance-sheet items are year-end balances.

Show table：Income statement

Item	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Revenue	—	—	—	—	—	—	—	—	271	386	639
Operating income	-2.89	-12.3	-14.3	-13.9	-67.3	-99.1	-125	-180	-232	-281	-167
Net income	-12.2	-27.2	-28.9	-31.0	-68.3	-103	-130	-187	-239	-287	-183

Balance sheet

Annual · In mn (USD)

Total assets 690 mn Total liabilities 602 mn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Show table：Balance sheet

Item	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Current assets	49.0	38.0	35.3	15.2	220	184	86.5	246	504	485	589
Total assets	49.1	38.2	35.6	15.4	221	186	87.8	331	588	569	690
Current liabilities	2.63	7.17	12.2	10.8	24.5	23.4	23.1	96.6	139	230	379
Total liabilities	2.63	16.6	18.8	14.4	41.8	72.3	72.2	222	397	511	602
Equity	46.4	21.6	16.7	0.94	179	114	15.6	110	191	57.0	88.3

Cash flow

Annual · In mn (USD)

Operating -93.4 mn Investing -0.48 mn Financing 101 mn

Positive = cash in, negative = cash out.

Show table：Cash flow statement

Item	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Operating	-7.44	-21.3	-26.5	-30.1	-46.4	-78.5	-108	-117	-145	-128	-93.4
Investing	-0.02	-0.1	-0.01	-0.03	—	-0.05	-0.31	-53.7	-0.58	-0.27	-0.48
Financing	52.9	—	23.9	10.0	252	42.4	11.1	285	331	57.8	101
Cash at period end	—	—	—	—	220	184	86.5	201	386	315	323

Profitability

Annual · %

Operating margin -26.1% Net margin -28.7%

Gross, operating and net margin = the respective profit ÷ revenue.

Show table：Profitability

Item	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Operating margin	—	—	—	—	—	—	—	—	-85.7%	-72.7%	-26.1%
Net margin	—	—	—	—	—	—	—	—	-88.4%	-74.5%	-28.7%

Returns & leverage

Annual · %

ROE -252.1% ROA -29.1% Debt ratio 87.2%

Show table：Returns & leverage

Item	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
ROE	-26.3%	-80.0%	-151.2%	-350.8%	-76.1%	-70.4%	-201.5%	-299.0%	-159.2%	-231.6%	-252.1%
ROA	-24.9%	-62.3%	-78.5%	-121.6%	-57.9%	-50.6%	-95.2%	-89.3%	-52.0%	-49.7%	-29.1%
Debt ratio	5.4%	43.5%	53.0%	93.9%	19.0%	38.9%	82.2%	67.0%	67.5%	90.0%	87.2%

EPS

Annual · US$

EPS US$-3.68

Show table：EPS

Item	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
EPS（US$）	—	—	—	—	—	—	—	-4.59	-5.25	-5.99	-3.68

Source: SEC EDGAR (XBRL company facts)

Annual reports by year

	10-K
2025	Open full text →
2024	Open full text →
2023	Open full text →

10-K: annual report of a US domestic issuer. Filings are the original documents hosted on SEC EDGAR — this site neither mirrors nor edits them.

FAQ

Where can I read Axsome Therapeutics, Inc. (AXSM) annual reports?

Every year in the table above links straight to the full text on SEC EDGAR. US annual reports are web pages (HTML) rather than PDFs, so you can read and search them in the browser without downloading anything. 3 filings are currently indexed.

What is the difference between a 10-K and a 20-F?

A 10-K is the annual report of a US domestic issuer, with sections fixed by law: Item 1 Business, Item 1A Risk Factors, Item 7 Management's Discussion and Analysis. A 20-F is filed by foreign private issuers — Taiwanese companies with US ADRs, such as TSMC, file 20-F rather than 10-K. A 40-F applies to Canadian issuers under the MJDS.

Are earnings call materials available here?

No. Earnings calls are not SEC filings, so US pages on this site cover annual reports only. Taiwan has a mandatory investor-conference disclosure regime, and those materials are indexed under Annual Reports.

Source: US Securities and Exchange Commission (SEC) EDGAR. This site indexes public filings and links to them; it hosts no copies, offers no investment advice, and makes no warranty as to timeliness or completeness.
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