Clene Inc

clene.com

What Do They Do?

Develops nanotechnology-based drug candidates for neurological disorders and sells dietary supplements through its subsidiary and a licensee.

How Do They Make Money?

Buyers pay for dietary supplements upon delivery, while online retail sales are prepaid; Clene also earns royalties from 4Life’s supplement sales under an exclusive license.

revenue

Segment	Share	Revenue	How money arrives
Product Sold outright	60% FY2022: 70%		Sold outright
Royalty Licensed	41% FY2022: 30%		Licensed

Who Are Their Customers?

Dietary supplements are marketed through dOrbital, which sells rMetx, and through 4Life, which sells Zinc Factor under a supply agreement and markets licensed Gold Factor.

Do Revenues Turn Into Profits?

No. It lost $26.2M in FY2025.

Operating income, FY2025

−11542% of revenue

▼ −30% (Loss) vs FY2024 (−$33.1M, −9676%)

Net income, FY2025

−13087% of revenue

▼ −34% (Loss) vs FY2024 (−$39.4M, −11520%)

Free cash flow, FY2025

−9270% of revenue

▼ −13% (Loss) vs FY2024 (−$21.3M, −6232%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +233%; vs $27K in Q2 FY2025
Net income: ▲ +81% (Loss); vs −$7.4M in Q2 FY2025

Product share of revenue vs 3.7% in Q2 FY2025

Shrinking. Revenue fell 72% in 4 years, from $723K in FY2021 to $200K in FY2025, about 27% a year.

Revenue over time

Product Royalty

$1M$500K$0

FY2021 FY2022 FY2023 FY2024 FY2025

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