MeritValue

REVELATION BIOSCIENCES, INC.

REVBdata completeness 63%7 fiscal years on file

Data notes: no data for concept 'revenue'; no data for concept 'totalDebt'

The thesis, from the filings

REVELATION BIOSCIENCES, INC. earns about -363% on equity, but has diluted owners by 120% over 5 years — worth asking whether the growth reaches owners. The cash-flow models don't apply cleanly here — the ledger says why below.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.

i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue—————
Net income−$12M1−$10.8M2−$120,2543−$15M4−$8.91M4
Operating cash flow−$11.1M5−$11.2M6−$7.29M7−$18.3M8−$8.27M8
Capital expenditure$131,9639——$19,17110—
Free cash flow (derived)−$11.2M5——−$18.3M8—
Total debt—————
Cash & equivalents$1.27M11$5.25M12$12M13$6.5M14$10.7M14
Diluted shares282,03572,58514,24614,293620,785

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

ii. Your slice — ownership made literal
If you owned
shares
Net assets behind them
$142.74
your share of equity
Profit it earned you last year
−$143.59
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on $142.74 of net worth that earned you −$143.59 last year.

iii. Is this a good business?
Moat signal · return on equity
-363% avg · 5y
FY21 —FY22 -1029%FY23 -2%FY24 -319%FY25 -101%

It earned an average -363% on equity over 5 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
+120% shares · 5y

Share count is up 120% over 5 years — owners have been diluted. Worth asking what they got for it.

reading capital allocation →

Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.

iv. What it’s worth — engine v0.1.0
DCF · Growth Exit 10Y
not applicable
only 2 years of FCF (need ≥3) — model not applicable
DCF · Growth Exit 5Y
not applicable
only 2 years of FCF (need ≥3) — model not applicable
Earnings Power Value
not applicable
normalized (5y-median) earnings non-positive — EPV undefined
Graham Number
not applicable
diluted EPS missing or non-positive — Graham Number undefined

Different models answer different questions — which to trust when →

Sources — the receipts
  1. 10-K · period ending 2021-12-31 · accession 0000950170-23-011000 (NetIncomeLoss)
  2. 10-K/A · period ending 2022-12-31 · accession 0000950170-24-108793 (NetIncomeLoss)
  3. 10-K · period ending 2023-12-31 · accession 0000950170-25-034584 (NetIncomeLoss)
  4. 10-K · period ending 2024-12-31 · accession 0001193125-26-076552 (NetIncomeLoss)
  5. 10-K · period ending 2021-12-31 · accession 0000950170-23-011000 (NetCashProvidedByUsedInOperatingActivities)
  6. 10-K/A · period ending 2022-12-31 · accession 0000950170-24-108793 (NetCashProvidedByUsedInOperatingActivities)
  7. 10-K · period ending 2023-12-31 · accession 0000950170-25-034584 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2024-12-31 · accession 0001193125-26-076552 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2021-12-31 · accession 0000950170-23-011000 (PaymentsToAcquirePropertyPlantAndEquipment)
  10. 10-K · period ending 2024-12-31 · accession 0001193125-26-076552 (PaymentsToAcquirePropertyPlantAndEquipment)
  11. 10-K · period ending 2021-12-31 · accession 0000950170-23-011000 (CashAndCashEquivalentsAtCarryingValue)
  12. 10-K/A · period ending 2022-12-31 · accession 0000950170-24-108793 (CashAndCashEquivalentsAtCarryingValue)
  13. 10-K · period ending 2023-12-31 · accession 0000950170-25-034584 (CashAndCashEquivalentsAtCarryingValue)
  14. 10-K · period ending 2024-12-31 · accession 0001193125-26-076552 (CashAndCashEquivalentsAtCarryingValue)