VTGN (Vistagen Therapeutics) Operating Income : $-55.97 Mil (TTM As of Mar. 2025)

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What is Vistagen Therapeutics Operating Income?

Vistagen Therapeutics's Operating Income for the three months ended in Mar. 2025 was $-14.50 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2025 was $-55.97 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Vistagen Therapeutics's Operating Income for the three months ended in Mar. 2025 was $-14.50 Mil. Vistagen Therapeutics's Revenue for the three months ended in Mar. 2025 was $-0.02 Mil. Therefore, Vistagen Therapeutics's Operating Margin % for the quarter that ended in Mar. 2025 was 96,633.33%.

Vistagen Therapeutics's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Vistagen Therapeutics's annualized ROC % for the quarter that ended in Mar. 2025 was -813.58%. Vistagen Therapeutics's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2025 was -3,134.05%.

Vistagen Therapeutics Operating Income Historical Data

The historical data trend for Vistagen Therapeutics's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Vistagen Therapeutics Operating Income Chart

Vistagen Therapeutics Annual Data

Trend

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Operating Income

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-17.93

-47.55

-59.27

-33.02

-55.97

Vistagen Therapeutics Quarterly Data
	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25
Operating Income	Get a 7-Day Free Trial															-11.36	-12.13	-14.23	-15.12	-14.50

Vistagen Therapeutics Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was $-55.97 Mil.

Vistagen Therapeutics (NAS:VTGN) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Vistagen Therapeutics's annualized ROC % for the quarter that ended in Mar. 2025 is calculated as:

	ROC % (Q: Mar. 2025 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2024 )	+	Invested Capital (Q: Mar. 2025 ))	/ count )
=	-57.98 * ( 1 - 0% )	/	( (5.479	+	8.774)	/ 2 )
=	-57.98	/	7.1265
=	-813.58 %

where

	Invested Capital		(Q: Dec. 2024 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	92.307	-	6.508	-	( 88.56	-	max(0, 9.621	-	89.941	+	88.56	))
=	5.479

	Invested Capital		(Q: Mar. 2025 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	84.341	-	6.103	-	( 80.482	-	max(0, 12.612	-	82.076	+	80.482	))
=	8.774

Note: The Operating Income data used here is four times the quarterly (Mar. 2025) data.

2. Joel Greenblatt's definition of Return on Capital:

Vistagen Therapeutics's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2025 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2025 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2024		Q: Mar. 2025
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-57.98	/	( ( (1.889 + max(-7.637, 0))	+	(1.811 + max(-10.457, 0)) )	/	2 )
=	-57.98	/	( ( 1.889	+	1.811 )	/	2 )
=	-57.98	/	1.85
=	-3,134.05 %

where Working Capital is:

	Working Capital		(Q: Dec. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	1.381)	-	(6.508	+	2.51	+	1.7763568394003E-15)
=	-7.637

	Working Capital		(Q: Mar. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	1.594)	-	(6.103	+	2.588	+	3.36)
=	-10.457

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2025) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Vistagen Therapeutics's Operating Margin % for the quarter that ended in Mar. 2025 is calculated as:

Operating Margin %	=	Operating Income (Q: Mar. 2025 )	/	Revenue (Q: Mar. 2025 )
	=	-14.495	/	-0.015
	=	96,633.33 %

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Vistagen Therapeutics Operating Income Related Terms

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Vistagen Therapeutics Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Vistagen Therapeutics Inc (NAS:VTGN) » Definitions » Operating Income

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Traded in Other Exchanges

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Address

343 Allerton Avenue, South San Francisco, CA, USA, 94080

Website

https://www.vistagen.com

Vistagen Therapeutics Inc is a biotechnology firm. The company is neuroscience-focused biopharmaceutical company dedicated to pursuing a pioneering approach to the development and commercialization of groundbreaking therapies for psychiatric and neurological disorders based on deep understanding of nose-to-brain neurocircuitry.

Executives

Joshua S. Prince	officer: Chief Operating Officer	C/O VISTAGEN THERAPEUTICS, INC., 343 ALLERTON AVE., SOUTH SAN FRANCISCO CA 94080
Cynthia Lynn Anderson	officer: CHIEF FINANCIAL OFFICER	C/O VISTAGEN THERAPEUTICS, INC., 343 ALLERTON AVE., SOUTH SAN FRANCISCO CA 94080
Commodore Capital Lp	10 percent owner	444 MADISON AVENUE, 35TH FLOOR, NEW YORK NY 10022
Jerry B Gin	director	343 ALLERTON AVE, SOUTH SAN FRANCISCO CA 94080
Reid G. Adler	officer: CHIEF LEGAL OFFICER	C/O VISTAGEN THERAPEUTICS, INC., 343 ALLERTON AVE., SOUTH SAN FRANCISCO CA 94090
Shawn Singh	director, officer: CHIEF EXECUTIVE OFFICER	C/O VISTAGEN THERAPEUTICS, INC., 343 ALLERTON AVENUE, SOUTH SAN FRANCISCO CA 94080
Venrock Healthcare Capital Partners Ii, L.p.	10 percent owner	7 BRYANT PARK, 23RD FLOOR, NEW YORK NY 10018
Vhcp Management Ii, Llc	10 percent owner	7 BRYANT PARK, 23RD FLOOR, NEW YORK NY 10018
Vhcp Management Eg, Llc	10 percent owner	3340 HILLVIEW AVENUE, PALO ALTO CA 94304
Venrock Healthcare Capital Partners Eg, L.p.	10 percent owner	3340 HILLVIEW AVENUE, PALO ALTO CA 94304
Vhcp Co-investment Holdings Iii, Llc	10 percent owner	7 BRYANT PARK, 23RD FLOOR, NEW YORK NY 10018
Bong Y Koh	10 percent owner	7 BRYANT PARK, 23RD FLOOR, NEW YORK NY 10018
Vhcp Co-investment Holdings Ii, Llc	10 percent owner	7 BRYANT PARK, 23RD FLOOR, NEW YORK NY 10018
Nimish P Shah	10 percent owner	7 BRYANT PARK, 23RD FLOOR, NEW YORK CITY NY 10018
Venrock Healthcare Capital Partners Iii, L.p.	10 percent owner	530 FIFTH AVENUE, 22ND FLOOR, NEW YORK NY 10036