# CANDEL THERAPEUTICS, INC. (CADL) · Edgar & Edgarette company card

> Candel Therapeutics (CADL) grew revenue 0.0% in FY2022 to $0 million, operating margin -27778% against a -15.8% median for biological products, (no diagnostic substances), equity 61.4% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1841387 · fiscal year ended 2022-12-31 · 3 audited years read · [page](https://www.pops4.com/boards/company/CADL) · [JSON](https://www.pops4.com/boards/company/CADL.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $125,000 |
| Revenue growth, 1 year | 0.0% |
| Revenue growth per year | 0.0% |
| Operating margin | -27777.6% (prior year -20580.8%) |
| Net margin | -15035.2% |
| Operating cash flow | −$31M |
| Capital spending | $1M |
| Free cash flow | −$33M |
| Cash | $70M |
| Long-term debt | — |
| Total assets | $78M |
| Total equity | $48M |
| Equity ÷ assets | 61.4% |
| Return on equity | -39.4% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Altman Z: 0.11 (distress zone)
- Piotroski F: 2 of 9 (weak)
- Health Harbor boat: Weathered boat · two warning signs · operating cash flow was negative (-$38.3M in FY2025); revenue is hard to predict: its 80% range is ±28%

## Edgarette's reading

Exposure: revenue $125K (FY2022). Experience: revenue up 0.0% on the year, up 0.0% a year over 2 years; operating margin -27777.6%, down from -20580.8%. Soundness: equity 61.4% of assets, return on equity -39.4%. Credibility: 3 audited years, moderate weight. Range: 80% of past cases like this landed between $92K and $165K next year (method v3, set from 749 SEC company-years; on a year the method never saw, 83% landed inside). A statistical range, not company guidance. Against peers (31 filers, $50M+ revenue, biological products, (no diagnostic substances)): operating margin -27777.6% against a -15.8% median; growth 0.0% against 21.4%.

## Health Watch, last 12 months

- Item 5.02 Director or officer change: 2, latest 2026-09-10 ([filing](https://www.sec.gov/Archives/edgar/data/1841387/000119312526387310/0001193125-26-387310-index.htm))

## Recent filings

- 8-K · filed 2026-09-10 · 5.02 Departure or Election of Directors; Appointment of Officers; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1841387/000119312526387310/0001193125-26-387310-index.htm)
- 8-K · filed 2026-09-09 · 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1841387/000119312526386561/0001193125-26-386561-index.htm)
- 10-Q · filed 2026-08-13 · [filing](https://www.sec.gov/Archives/edgar/data/1841387/000119312526347980/0001193125-26-347980-index.htm)
- 8-K · filed 2026-08-13 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1841387/000119312526347957/0001193125-26-347957-index.htm)
- 8-K · filed 2026-06-24 · 5.07 Submission of Matters to a Vote of Security Holders · [filing](https://www.sec.gov/Archives/edgar/data/1841387/000184138726000009/0001841387-26-000009-index.htm)
- 8-K · filed 2026-06-16 · 5.02 Departure or Election of Directors; Appointment of Officers; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1841387/000184138726000007/0001841387-26-000007-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001841387.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1841387

## Cite

POPS4, Edgar & Edgarette: CANDEL THERAPEUTICS, INC. (CADL) company card, from the company's own SEC filings, accessed 2026-11-04, https://www.pops4.com/boards/company/CADL. 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.

Its latest audited year is FY2025, which reports no revenue; the revenue figures and the range here are from FY2022, its last year with revenue on record. 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.