# NORTHWEST BIOTHERAPEUTICS INC (NWBO) · Edgar & Edgarette company card

> Northwest Biotherapeutics (NWBO) saw revenue fall 0.3% in FY2025 to $1 million, operating margin -4348% against a -3.8% median for pharmaceutical preparations, equity -74.2% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1072379 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/NWBO) · [JSON](https://www.pops4.com/boards/company/NWBO.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $1M |
| Revenue growth, 1 year | -0.3% |
| Revenue growth per year | 8.2% |
| Operating margin | -4347.9% (prior year -4812.4%) |
| Net margin | -4368.7% |
| Operating cash flow | −$45M |
| Capital spending | $2M |
| Free cash flow | −$46M |
| Cash | $3M |
| Long-term debt | $60M |
| Total assets | $81M |
| Total equity | −$60M |
| Equity ÷ assets | -74.2% |
| Return on equity | — |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Altman Z: -72.7 (distress zone)
- Piotroski F: 4 of 9 (middling)
- Health Harbor boat: Rotting at the dock · four or more warning signs · filed late annual report notice in the last 12 months; liabilities exceed assets (often from years of share buybacks, not always distress); slow and jumpy: growing slower than its size class, with revenue that swings more; operating cash flow was negative; operating loss: a margin of -4347.9% in FY2025; revenue is hard to predict: its 80% range is ±61%
- Cash Compass: Fading · slow and jumpy, lagging its peers

## Edgarette's reading

Exposure: revenue $1.4M (FY2025), total debt $60.0M. Experience: revenue down 0.3% on the year, up 8.2% a year over 4 years; operating margin -4347.9%, up from -4812.4%. Soundness: equity -74.2% of assets (liabilities exceed assets). Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $642K and $2.7M next year (method v4.1: its own 6-year record of growth weighed at 63% against under $50M filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $582K to $3.0M. A statistical range, not company guidance. Against peers (114 filers, $50M+ revenue, pharmaceutical preparations): operating margin -4347.9% against a -3.8% median; growth -0.3% against 13.7%.

Range logged 2026-11-02, receipt 779e691163ad57e3, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item NT 10-K Late annual report notice: 1, latest 2026-03-31 ([filing](https://www.sec.gov/Archives/edgar/data/1072379/000110465926037871/0001104659-26-037871-index.htm))

## Recent filings

- 8-K · filed 2026-10-30 · 1.01 Entry into a Material Definitive Agreement; 2.03 Creation of a Direct Financial Obligation · [filing](https://www.sec.gov/Archives/edgar/data/1072379/000110465926120669/0001104659-26-120669-index.htm)
- 10-Q · filed 2026-08-14 · [filing](https://www.sec.gov/Archives/edgar/data/1072379/000110465926097188/0001104659-26-097188-index.htm)
- 8-K · filed 2026-07-31 · 1.01 Entry into a Material Definitive Agreement; 2.03 Creation of a Direct Financial Obligation · [filing](https://www.sec.gov/Archives/edgar/data/1072379/000110465926089293/0001104659-26-089293-index.htm)
- 8-K · filed 2026-07-20 · 7.01 Regulation FD Disclosure · [filing](https://www.sec.gov/Archives/edgar/data/1072379/000110465926084743/0001104659-26-084743-index.htm)
- 10-Q · filed 2026-05-15 · [filing](https://www.sec.gov/Archives/edgar/data/1072379/000110465926062661/0001104659-26-062661-index.htm)
- 10-K · filed 2026-04-15 · [filing](https://www.sec.gov/Archives/edgar/data/1072379/000110465926043806/0001104659-26-043806-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001072379.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1072379

## Cite

POPS4, Edgar & Edgarette: NORTHWEST BIOTHERAPEUTICS INC (NWBO) company card, from the company's own SEC filings, accessed 2026-11-02, https://www.pops4.com/boards/company/NWBO. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.