{ "ok": true, "cik": "1716947", "ticker": "ENSC", "name": "ENSYSCE BIOSCIENCES, INC.", "filings": [ { "form": "8-K", "filed": "2026-09-29", "items": [ "5.03 Amendments to Articles or Bylaws; Change in Fiscal Year", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1716947/000149315226044802/0001493152-26-044802-index.htm" }, { "form": "8-K", "filed": "2026-08-25", "items": [ "8.01 Other Events" ], "url": "https://www.sec.gov/Archives/edgar/data/1716947/000149315226040080/0001493152-26-040080-index.htm" }, { "form": "8-K", "filed": "2026-08-24", "items": [ "8.01 Other Events" ], "url": "https://www.sec.gov/Archives/edgar/data/1716947/000149315226039898/0001493152-26-039898-index.htm" }, { "form": "10-Q", "filed": "2026-08-13", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1716947/000149315226037817/0001493152-26-037817-index.htm" }, { "form": "8-K", "filed": "2026-08-13", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1716947/000149315226037794/0001493152-26-037794-index.htm" }, { "form": "8-K", "filed": "2026-08-06", "items": [ "1.01 Entry into a Material Definitive Agreement", "2.01 Completion of Acquisition or Disposition of Assets", "3.02 Unregistered Sales of Equity Securities", "3.03 Material Modifications to Rights of Security Holders", "5.02 Departure or Election of Directors; Appointment of Officers", "5.03 Amendments to Articles or Bylaws; Change in Fiscal Year", "7.01 Regulation FD Disclosure", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1716947/000149315226036268/0001493152-26-036268-index.htm" } ], "events12m": 17, "healthWatch": { "window": "last 12 months", "since": "2025-09-30", "signals": [ { "code": "3.01", "label": "Exchange listing notice or transfer", "count": 2, "latest": { "filed": "2026-05-22", "url": "https://www.sec.gov/Archives/edgar/data/1716947/000149315226025061/0001493152-26-025061-index.htm" } }, { "code": "5.02", "label": "Director or officer change", "count": 4, "latest": { "filed": "2026-08-06", "url": "https://www.sec.gov/Archives/edgar/data/1716947/000149315226036268/0001493152-26-036268-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001716947.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1716947" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets and no trading recommendations.", "edgar": "🫧 Edgar looked up ENSYSCE BIOSCIENCES, INC. ($ENSC). Last filing: 8-K (5.03 Amendments to Articles or Bylaws; Change in Fiscal Year), 2026-09-29. 17 event filings (8-K) in the past twelve months. Auditor change (8-K Item 4.01) filed 2025-06-05.", "auditor": { "changes": [ { "filed": "2025-06-05", "url": "https://www.sec.gov/Archives/edgar/data/1716947/000164117225013853/0001641172-25-013853-index.htm" } ], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2025-12-31", "revenue": 5066650, "revenueGrowth1y": -0.027520181741720884, "revenueGrowthPerYear": 0.0944594562164851, "yearsOfData": 5, "operatingMargin": -2.0212459909407596, "operatingMarginPrior": -1.2917646747207454, "netMargin": -2.0084645673176555, "operatingCashFlow": -7806292, "capitalSpending": 123643, "freeCashFlow": -7929935, "researchAndDevelopment": 10376895, "researchShareOfRevenue": 2.048078118678022, "cash": 4310354, "longTermDebt": null, "longTermDebtChange": null, "revenueHistory": [ { "fiscalYearEnd": "2021-12-31", "revenue": 3531199 }, { "fiscalYearEnd": "2022-12-31", "revenue": 2523383 }, { "fiscalYearEnd": "2023-12-31", "revenue": 2230520 }, { "fiscalYearEnd": "2024-12-31", "revenue": 5210031 }, { "fiscalYearEnd": "2025-12-31", "revenue": 5066650 } ], "totalEquity": 3213720, "totalAssets": 7452479, "equityRatio": 0.43122832013347506, "returnOnEquity": -3.1664821453020178, "dividendsPaid": null, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "earningsPerShare": -3.98, "sharesOutstanding": 2557377, "bookValuePerShare": 1.2566469472432105, "revenuePerShare": 1.9811901022023737, "range80": { "low": 2554532.706516004, "high": 12160145.622658545, "baseline": 5659583.265271745, "n": 2483, "band": "b000", "bandLabel": "under $50M", "method": "v4.1", "credibility": 0.5714285714285714, "growthYears": 5, "ownVolatility": 0.46023296009512354, "classVolatility": 0.3000583276631395, "volatility": 0.3995287420791934 }, "ifPaceHeld": { "low": 2554532.706516004, "high": 12160145.622658545 } }, "edgarette": "🔖 Exposure: revenue $5.1M (FY2025). Experience: revenue down 2.8% on the year, up 9.4% a year over 4 years; operating margin -202.1%, down from -129.2%. Soundness: equity 43.1% of assets, return on equity -316.6%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $2.6M and $12.2M next year (method v4.1: its own 5-year record of growth weighed at 57% 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 $2.3M to $13.6M. A statistical range, not company guidance. Against peers (114 filers, $50M+ revenue, pharmaceutical preparations): operating margin -202.1% against a -3.8% median; growth -2.8% against 13.7%.", "peers": { "sic": 2834, "sicDescription": "Pharmaceutical Preparations", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "2834", "growth": [ 0.1365, 111 ], "opMargin": [ -0.038, 114 ], "equityRatio": [ 0.4028, 118 ], "returnOnEquity": [ -0.0112, 100 ], "payoutRatio": [ 0.403, 13 ] }, "summary": "Ensysce Biosciences (ENSC) saw revenue fall 2.8% in FY2025 to $5 million, operating margin -202% against a -3.8% median for pharmaceutical preparations, equity 43.1% of assets. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
ENSYSCE BIOSCIENCES, INC. against its own record and its peers
Operating marginPeer median -3.8%-202.1%Revenue, on the yearPeer median 13.7%-2.8%Equity of assetsPeer median 40.3%43.1%Return on equityPeer median -1.1%-316.6%Gold tick: the median of 100–118 peers with $50M+ revenue in pharmaceutical preparations
", "chartHorizon": null, "backtest": { "tests": 2, "hits": 1, "rate": 0.5, "method": "v4", "byYear": { "2024": [ 0, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-30T14:30:53.476Z", "hash": "dfd15b9a0f1e28a1", "status": "open" }, "caution": "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.", "schema": "pops4.edgarette.card/1", "card": { "summary": "Ensysce Biosciences (ENSC) saw revenue fall 2.8% in FY2025 to $5 million, operating margin -202% against a -3.8% median for pharmaceutical preparations, equity 43.1% of assets. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2025-12-31", "revenue": 5066650, "totalDebt": null, "cash": 4310354 }, "experience": { "revenueGrowth1y": -0.027520181741720884, "revenueGrowthPerYear": 0.0944594562164851, "operatingMargin": -2.0212459909407596, "operatingMarginPrior": -1.2917646747207454, "netMargin": -2.0084645673176555, "freeCashFlow": -7929935 }, "soundness": { "equityRatio": 0.43122832013347506, "returnOnEquity": -3.1664821453020178, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 2834, "sicDescription": "Pharmaceutical Preparations", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "2834", "growth": [ 0.1365, 111 ], "opMargin": [ -0.038, 114 ], "equityRatio": [ 0.4028, 118 ], "returnOnEquity": [ -0.0112, 100 ], "payoutRatio": [ 0.403, 13 ] }, "credibility": { "auditedYears": 5, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": { "filed": "2025-06-05", "url": "https://www.sec.gov/Archives/edgar/data/1716947/000164117225013853/0001641172-25-013853-index.htm" } }, "healthWatch": { "window": "last 12 months", "since": "2025-09-30", "signals": [ { "code": "3.01", "label": "Exchange listing notice or transfer", "count": 2, "latest": { "filed": "2026-05-22", "url": "https://www.sec.gov/Archives/edgar/data/1716947/000149315226025061/0001493152-26-025061-index.htm" } }, { "code": "5.02", "label": "Director or officer change", "count": 4, "latest": { "filed": "2026-08-06", "url": "https://www.sec.gov/Archives/edgar/data/1716947/000149315226036268/0001493152-26-036268-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "range": { "low": 2554532.706516004, "high": 12160145.622658545, "baseline": 5659583.265271745, "coverage": 0.8, "method": "v4.1", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); width = the company's own volatility of yearly growth, credibility-weighted against its size class (Buhlmann), scaled to the 80% target on 2023 and tested on 2024", "calibratedOn": { "companyYears": 2483, "sizeBand": "under $50M", "fitYears": [ 2018, 2022 ], "tuneYear": 2023, "testYear": 2024, "coverageOnTestYear": 0.8341, "coverageAllYears": 0.6904374799277399, "stressCoverageAllYears": 0.819004992974709, "outcomeYears": [ 2019, 2025 ] }, "credibility": { "weightOnOwnRecord": 0.571, "growthYears": 5, "ownVolatility": 0.46023296009512354, "classVolatility": 0.3000583276631395, "pricedVolatility": 0.3995287420791934, "k": 3 }, "stress": { "low": 2295317.185945356, "high": 13583843.345303193, "basis": "the same range with widths set to hold 80% across 2018-2023, pandemic years included" }, "kind": "a statistical range, not company guidance; no view on the share price", "track": { "backtest": { "tests": 2, "hits": 1, "rate": 0.5, "method": "v4", "byYear": { "2024": [ 0, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-30T14:30:53.476Z", "hash": "dfd15b9a0f1e28a1", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "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.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001716947.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1716947" }, "speedCash": { "fiscalYear": 2025, "cashConversion": -1.5407, "growth3y": 0.2616, "volatility": 0.4602, "paysDividend": false, "raisedDividend": false, "equityRatio": 0.4312, "quadrant": { "code": "fj", "label": "Fast and jumpy", "plain": "growing faster than its size class, with revenue that swings more" }, "compass": { "code": "notyet", "inside": "Turns -154.1% of revenue into operating cash; revenue growing 26.2% a year over three years; no common dividend.", "outside": "Among under $50M companies: 25th percentile for cash, 75th for growth.", "emoji": "⚡", "label": "Fast, cash not yet", "plain": "growing fast, but little cash arriving so far" }, "band": "under $50M", "cashPctInClass": 25, "growthPctInClass": 75, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [ { "key": "cash", "text": "operating cash flow was negative" }, { "key": "range", "text": "revenue is hard to predict: its 80% range is ±65%" } ], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 2, "name": "Weathered boat", "plain": "two warning signs" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": -7806292, "investing": -123643, "financing": 8738212, "capitalSpending": 123643, "free": -7929935, "trend": [ { "fiscalYearEnd": "2021-12-31", "operating": -8242177, "free": null }, { "fiscalYearEnd": "2022-12-31", "operating": -17887439, "free": null }, { "fiscalYearEnd": "2023-12-31", "operating": -10779982, "free": null }, { "fiscalYearEnd": "2024-12-31", "operating": -7502700, "free": null }, { "fiscalYearEnd": "2025-12-31", "operating": -7806292, "free": -7929935 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 4310354, "shortTerm": null, "longTerm": null, "equityHoldings": null, "totalAssets": 7452479, "ladder": null, "currentRatio": 1.59, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same range method applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so.", "healthWatch": "Distress-type events the company filed in the last 12 months (late-filing notices; 8-K items 1.03, 3.01, 2.04, 4.02, 4.01, 2.05, 2.06, 1.05, 5.02), each with its count and newest filing. Display only: they do not change the range or its receipt." }, "speedCash": { "fiscalYear": 2025, "cashConversion": -1.5407, "growth3y": 0.2616, "volatility": 0.4602, "paysDividend": false, "raisedDividend": false, "equityRatio": 0.4312, "quadrant": { "code": "fj", "label": "Fast and jumpy", "plain": "growing faster than its size class, with revenue that swings more" }, "compass": { "code": "notyet", "inside": "Turns -154.1% of revenue into operating cash; revenue growing 26.2% a year over three years; no common dividend.", "outside": "Among under $50M companies: 25th percentile for cash, 75th for growth.", "emoji": "⚡", "label": "Fast, cash not yet", "plain": "growing fast, but little cash arriving so far" }, "band": "under $50M", "cashPctInClass": 25, "growthPctInClass": 75, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [ { "key": "cash", "text": "operating cash flow was negative" }, { "key": "range", "text": "revenue is hard to predict: its 80% range is ±65%" } ], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 2, "name": "Weathered boat", "plain": "two warning signs" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": -7806292, "investing": -123643, "financing": 8738212, "capitalSpending": 123643, "free": -7929935, "trend": [ { "fiscalYearEnd": "2021-12-31", "operating": -8242177, "free": null }, { "fiscalYearEnd": "2022-12-31", "operating": -17887439, "free": null }, { "fiscalYearEnd": "2023-12-31", "operating": -10779982, "free": null }, { "fiscalYearEnd": "2024-12-31", "operating": -7502700, "free": null }, { "fiscalYearEnd": "2025-12-31", "operating": -7806292, "free": -7929935 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 4310354, "shortTerm": null, "longTerm": null, "equityHoldings": null, "totalAssets": 7452479, "ladder": null, "currentRatio": 1.59, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }