Cytokinetics Inc (CYTK)
Gross profit margin
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 18,474 | -322,593 | -146,225 | -89,510 | -41,123 |
| Revenue | US$ in thousands | 18,474 | 7,530 | 94,588 | 70,428 | 55,828 |
| Gross profit margin | 100.00% | -4,284.10% | -154.59% | -127.09% | -73.66% |
December 31, 2024 calculation
Gross profit margin = Gross profit ÷ Revenue
= $18,474K ÷ $18,474K
= 100.00%
Based on the data provided, Cytokinetics Inc's gross profit margin has varied significantly over the years, ranging from negative percentages to a dramatic increase to 100% in December 31, 2024.
In 2020 and 2021, the company experienced negative gross profit margins of -73.66% and -127.09% respectively, indicating that the cost of goods sold exceeded the revenue generated, leading to losses at the gross profit level.
The situation worsened in 2022, with a staggering gross profit margin of -154.59%, suggesting further challenges in managing production costs relative to sales revenue.
By December 31, 2023, the gross profit margin reached an alarming -4,284.10%, reinforcing the significant difficulties the company faced in covering its direct costs with its sales proceeds.
However, there was a remarkable turnaround by December 31, 2024, where the gross profit margin surged to 100%, implying that the company's revenue from sales exceeded its direct costs by a significant margin.
Overall, the fluctuating trend in Cytokinetics Inc's gross profit margin showcases the company's ability to adapt and improve its operational efficiency over time, culminating in a positive milestone by the end of 2024.
Peer comparison
Dec 31, 2024