Revolution Medicines, Inc(NASDAQ:RVMD) 
Revolution Medicines, Inc., a clinical-stage precision oncology company, focuses on developing therapies to inhibit frontier targets in RAS-addicted cancers. The company is developing RMC-4630, an inhibitor of SHP2, which is in Phase 1/2 clinical trial for the treatment of solid tumors, such as gyne...
Website: http://www.revmed.com
Founded: 2014
Full Time Employees: 117
CEO: Mark A. Goldsmith
Sector: Healthcare
Industry: Biotechnology
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At a glance:
Bull Thesis:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
operating expenses: | ||||||||||||||||||||||||||
research and development | 343,970,000 | 294,943,000 | 262,506,000 | 224,134,000 | 205,749,000 | 188,096,000 | 151,752,000 | 134,932,000 | 118,021,000 | 148,481,000 | 107,735,000 | 97,981,000 | 68,947,000 | 66,127,000 | 69,455,000 | 61,001,000 | 56,490,000 | 53,681,000 | 46,473,000 | 45,936,000 | 40,858,000 | 37,006,000 | 34,871,000 | 32,918,000 | 27,457,000 | |
general and administrative | 101,252,000 | 66,683,000 | 52,763,000 | 40,580,000 | 35,011,000 | 28,214,000 | 23,960,000 | 21,711,000 | 22,838,000 | 32,244,000 | 15,513,000 | 14,640,000 | 13,224,000 | 10,910,000 | 10,434,000 | 10,204,000 | 9,037,000 | 8,692,000 | 7,791,000 | 7,297,000 | 6,670,000 | 5,825,000 | 5,341,000 | 5,091,000 | 5,171,000 | |
total operating expenses | 445,222,000 | 361,626,000 | 315,269,000 | 264,714,000 | 240,760,000 | 216,310,000 | 175,712,000 | 156,643,000 | 140,859,000 | 180,725,000 | 123,248,000 | 112,621,000 | 82,171,000 | 77,037,000 | 79,889,000 | 71,205,000 | 65,527,000 | 62,373,000 | 54,264,000 | 53,233,000 | 47,528,000 | 42,831,000 | 40,212,000 | 38,009,000 | 32,628,000 | |
income from operations | -445,222,000 | -361,626,000 | -315,269,000 | -264,714,000 | -240,760,000 | -216,310,000 | -175,712,000 | -156,643,000 | -140,859,000 | -179,983,000 | -123,248,000 | -108,797,000 | -75,157,000 | -61,707,000 | -76,533,000 | -62,089,000 | -57,949,000 | -52,913,000 | -53,163,000 | -44,535,000 | -37,397,000 | -34,080,000 | -27,551,000 | -27,984,000 | -21,082,000 | |
yoy | 84.92% | 67.18% | 79.42% | 68.99% | 70.92% | 20.18% | 42.57% | 43.98% | 87.42% | 191.67% | 61.04% | 75.23% | 29.70% | 16.62% | 43.96% | 39.42% | 54.96% | 55.26% | 92.96% | 59.14% | 77.39% | |||||
qoq | 23.12% | 14.70% | 19.10% | 9.95% | 11.30% | 23.10% | 12.17% | 11.21% | -21.74% | 46.03% | 13.28% | 44.76% | 21.80% | -19.37% | 23.26% | 7.14% | 9.52% | -0.47% | 19.37% | 19.09% | 9.73% | 23.70% | -1.55% | 32.74% | ||
operating margin % | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | NaN% | NaN% | NaN% | -24256.47% | NaN% | -2845.11% | -1071.53% | -402.52% | -2280.48% | -681.10% | -764.70% | -559.33% | -4828.61% | -512.01% | -369.13% | -389.44% | -217.61% | -279.14% | -182.59% | |
non-operating income, net: | ||||||||||||||||||||||||||
interest income | 19,508,000 | 21,292,000 | 22,083,000 | 22,404,000 | 24,915,000 | 21,225,000 | 20,411,000 | 21,487,000 | 23,760,000 | 18,977,000 | 10,947,000 | 10,499,000 | 7,059,000 | 5,077,000 | 2,907,000 | 867,000 | 302,000 | 237,000 | 223,000 | 236,000 | 233,000 | 252,000 | 347,000 | 730,000 | 909,000 | |
interest expense | -12,197,000 | -11,936,000 | -11,428,000 | -12,000 | ||||||||||||||||||||||
change in fair value of warrant liability | -15,788,000 | |||||||||||||||||||||||||
other expense | -117,000 | -10,000 | -2,809,000 | |||||||||||||||||||||||
total non-operating income | -8,594,000 | -3,266,000 | 10,063,000 | |||||||||||||||||||||||
income before income taxes | -453,816,000 | -364,892,000 | -305,206,000 | -247,787,000 | -213,416,000 | -195,322,000 | -156,288,000 | -133,233,000 | -116,003,000 | -161,194,000 | -112,301,000 | -98,298,000 | -68,098,000 | -56,630,000 | -73,626,000 | -61,222,000 | -57,647,000 | -52,676,000 | -52,940,000 | -44,299,000 | -37,176,000 | -33,842,000 | -27,221,000 | -27,273,000 | -20,194,000 | |
net income | -453,816,000 | -364,892,000 | -305,206,000 | -247,787,000 | -213,416,000 | -194,569,000 | -156,288,000 | -133,233,000 | -116,003,000 | -161,537,000 | -108,434,000 | -98,298,000 | -68,098,000 | -56,507,000 | -73,329,000 | -61,222,000 | -57,647,000 | -52,676,000 | -52,940,000 | -44,299,000 | -37,176,000 | -34,204,000 | -27,221,000 | -27,215,000 | -19,519,000 | |
yoy | 112.64% | 87.54% | 95.28% | 85.98% | 83.97% | 20.45% | 44.13% | 35.54% | 70.35% | 185.87% | 47.87% | 60.56% | 18.13% | 7.27% | 38.51% | 38.20% | 55.07% | 54.01% | 94.48% | 62.77% | 90.46% | |||||
qoq | 24.37% | 19.56% | 23.17% | 16.11% | 9.69% | 24.49% | 17.30% | 14.85% | -28.19% | 48.97% | 10.31% | 44.35% | 20.51% | -22.94% | 19.78% | 6.20% | 9.44% | -0.50% | 19.51% | 19.16% | 8.69% | 25.65% | 0.02% | 39.43% | ||
net income margin % | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | NaN% | NaN% | NaN% | -21770.49% | NaN% | -2570.55% | -970.89% | -368.60% | -2185.01% | -671.59% | -760.72% | -556.83% | -4808.36% | -509.30% | -366.95% | -390.86% | -215.00% | -271.47% | -169.05% | |
net income per share | -2.29 | -1.89 | -1.61 | -1.31 | -1.13 | -1.13 | -0.94 | -0.81 | -0.7 | -1.21 | -0.99 | -0.92 | -0.72 | -0.61 | -0.87 | -0.82 | -0.78 | -0.72 | -0.72 | -0.6 | -0.53 | -0.52 | -0.42 | -0.46 | -0.74 | |
weighted-average common shares used to compute net loss per share, basic and diluted | 198,098,047 | 190,129,154 | 189,231,562 | 188,583,288 | 188,145,904 | 167,737,672 | 166,843,984 | 165,141,936 | 164,729,200 | 113,149,869 | 109,233,084 | 106,884,185 | 94,831,979 | 80,626,525 | 84,694,860 | 74,280,590 | 74,162,363 | 72,806,079 | 73,535,686 | 73,399,714 | 70,420,076 | 54,874,119 | 64,892,868 | 58,752,494 | 29,297,698 | |
comprehensive loss: | ||||||||||||||||||||||||||
other comprehensive gain: | ||||||||||||||||||||||||||
unrealized gain on investments | -3,851 | 121 | 1,814 | 386 | -2,491 | 5,675 | -665 | -1,742 | 1,415 | 380 | -695 | 1,224 | ||||||||||||||
comprehensive loss | -457,667 | -364,771 | -303,392 | -248,192 | -213,030 | -197,060 | -150,613 | -133,898 | -117,745 | -160,122 | -108,054 | -98,993 | -66,874 | |||||||||||||
non-operating income: | ||||||||||||||||||||||||||
change in fair value of warrant liabilities and contingent earn-out shares | -682,750 | -592,000 | -4,578,000 | 2,439,000 | 1,135,750 | -1,269,000 | 1,907,000 | 3,905,000 | ||||||||||||||||||
other income | -10,500 | -627,750 | 282,000 | 16,000 | ||||||||||||||||||||||
other income, net: | ||||||||||||||||||||||||||
interest and other income | -899,000 | |||||||||||||||||||||||||
total other income | 16,927,000 | 27,344,000 | 20,988,000 | 19,424,000 | 23,410,000 | 24,856,000 | 18,789,000 | 10,947,000 | 10,499,000 | 7,059,000 | 5,077,000 | 2,907,000 | 867,000 | 302,000 | 170,000 | 223,000 | 236,000 | 221,000 | 238,000 | 330,000 | 711,000 | 888,000 | ||||
other comprehensive loss: | ||||||||||||||||||||||||||
unrealized loss on investments | -405 | |||||||||||||||||||||||||
revenue: | ||||||||||||||||||||||||||
collaboration revenue | 742,000 | 3,824,000 | 7,014,000 | 15,330,000 | 3,356,000 | 9,116,000 | 7,578,000 | 9,460,000 | 1,101,000 | 8,698,000 | 10,131,000 | |||||||||||||||
total revenue | 742,000 | 3,824,000 | 7,014,000 | 15,330,000 | 3,356,000 | 9,116,000 | 7,578,000 | 9,460,000 | 1,101,000 | 8,698,000 | 10,131,000 | 8,751,000 | 12,661,000 | 10,025,000 | 11,546,000 | |||||||||||
yoy | NaN% | NaN% | NaN% | -95.16% | NaN% | -58.05% | -7.44% | 62.05% | 204.81% | 4.81% | -25.20% | 8.10% | -91.30% | -13.24% | -12.26% | |||||||||||
qoq | NaN% | NaN% | NaN% | NaN% | NaN% | -45.48% | -54.25% | 356.79% | -63.19% | 20.30% | -19.89% | 759.22% | -87.34% | -14.14% | 15.77% | -30.88% | 26.29% | -13.17% | ||||||||
benefit from income taxes | 123,000 | 297,000 | -362,000 | 58,000 | 675,000 | |||||||||||||||||||||
benefit from income taxes/ | 966,750 | 3,867,000 | ||||||||||||||||||||||||
redeemable convertible preferred stock dividends - undeclared and cumulative | -2,219,000 | |||||||||||||||||||||||||
net loss attributable to common stockholders | -52,676,000 | -52,940,000 | -44,299,000 | -37,176,000 | -34,204,000 | -27,221,000 | -27,215,000 | -21,738,000 | ||||||||||||||||||
collaboration revenue, related party | 8,751,000 | 12,661,000 | 10,025,000 | 11,546,000 | ||||||||||||||||||||||
interest and other expense | -14,250 | -17,000 | -19,000 | -21,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||||||||||||
current assets: | ||||||||||||||||||||||||
cash and cash equivalents | 217,442,000 | 402,438,000 | 333,554,000 | 543,064,000 | 201,262,000 | 275,713,000 | 288,432,000 | 696,148,000 | 358,399,000 | 380,330,000 | 427,222,000 | 161,412,000 | 178,941,000 | 105,781,000 | 97,667,000 | 108,497,000 | 129,154,000 | 195,600,000 | 351,595,000 | 104,268,000 | 64,871,000 | 23,976,000 | 182,669,000 | 16,659,000 |
marketable securities | 1,714,066,000 | 1,734,733,000 | 1,769,121,000 | 1,746,235,000 | 1,348,219,000 | 1,315,002,000 | 1,415,108,000 | 1,156,807,000 | 454,796,000 | 529,159,000 | 482,578,000 | 483,531,000 | 476,072,000 | 355,652,000 | 421,087,000 | 468,557,000 | 479,501,000 | 450,722,000 | 329,998,000 | 336,473,000 | 401,269,000 | 301,469,000 | 165,279,000 | 106,099,000 |
prepaid expenses and other current assets | 45,981,000 | 39,268,000 | 31,907,000 | 38,333,000 | 29,658,000 | 34,015,000 | 25,662,000 | 25,072,000 | 10,963,000 | 10,093,000 | 8,958,000 | 10,569,000 | 15,155,000 | 15,989,000 | 10,206,000 | 6,790,000 | 7,469,000 | 8,162,000 | 8,248,000 | 6,988,000 | 7,459,000 | 7,605,000 | 5,688,000 | 2,486,000 |
total current assets | 1,977,489,000 | 2,176,439,000 | 2,134,582,000 | 2,327,632,000 | 1,579,139,000 | 1,624,730,000 | 1,729,202,000 | 1,879,281,000 | 824,467,000 | 922,092,000 | 922,753,000 | 660,185,000 | 675,108,000 | 483,046,000 | 534,343,000 | 589,773,000 | 623,536,000 | 661,011,000 | 697,405,000 | 454,122,000 | 482,898,000 | 340,381,000 | 362,086,000 | 133,981,000 |
property and equipment | 32,926,000 | 33,049,000 | 27,153,000 | 24,289,000 | 24,814,000 | 25,284,000 | 23,697,000 | 22,865,000 | 20,286,000 | 19,718,000 | 18,536,000 | 18,659,000 | 18,267,000 | 15,910,000 | 13,056,000 | 11,544,000 | 10,107,000 | 10,744,000 | 10,879,000 | 8,902,000 | 7,035,000 | 7,102,000 | 6,775,000 | 7,147,000 |
operating lease right-of-use asset | 134,450,000 | 114,000,000 | 115,777,000 | 117,534,000 | 74,338,000 | 75,305,000 | 76,193,000 | 77,149,000 | 53,122,000 | 53,733,000 | 54,302,000 | 55,077,000 | 56,259,000 | 57,434,000 | 58,570,000 | 59,692,000 | 25,234,000 | 25,925,000 | 26,695,000 | 27,435,000 | 28,194,000 | 28,892,000 | 8,468,000 | |
intangible assets | 55,869,000 | 56,136,000 | 56,403,000 | 56,670,000 | 56,937,000 | 57,205,000 | 57,472,000 | 57,739,000 | 58,006,000 | 58,273,000 | 58,540,000 | 58,807,000 | 59,075,000 | 59,342,000 | 59,609,000 | 59,876,000 | 60,143,000 | 60,410,000 | 60,678,000 | 60,945,000 | 61,212,000 | 61,479,000 | 61,746,000 | 62,013,000 |
goodwill | 14,608,000 | 14,608,000 | 14,608,000 | 14,608,000 | 14,608,000 | 14,608,000 | 14,608,000 | 14,608,000 | 14,608,000 | 14,608,000 | 14,608,000 | 14,608,000 | 14,608,000 | 14,608,000 | 14,608,000 | 14,608,000 | 14,608,000 | 14,608,000 | 14,608,000 | 14,608,000 | 14,608,000 | 14,608,000 | 14,608,000 | 14,608,000 |
restricted cash | 4,858,000 | 3,916,000 | 3,698,000 | 3,698,000 | 2,888,000 | 3,031,000 | 3,031,000 | 3,031,000 | 2,391,000 | 2,594,000 | 1,737,000 | 1,737,000 | 1,737,000 | 1,737,000 | 1,737,000 | 1,737,000 | 1,084,000 | 1,084,000 | 1,084,000 | 1,084,000 | 1,084,000 | 1,084,000 | 214,000 | 214,000 |
long-term deposits | 16,851,000 | |||||||||||||||||||||||
other noncurrent assets | 14,869,000 | 31,420,000 | 13,132,000 | 13,870,000 | 10,275,000 | 8,274,000 | 4,159,000 | 7,032,000 | 11,352,000 | 2,691,000 | 2,772,000 | 2,857,000 | 856,000 | 725,000 | 851,000 | 758,000 | 264,000 | 264,000 | 302,000 | 305,000 | 39,000 | 411,000 | 444,000 | 2,566,000 |
total assets | 2,251,920,000 | 2,429,568,000 | 2,365,353,000 | 2,558,301,000 | 1,762,999,000 | 1,808,437,000 | 1,908,362,000 | 2,061,705,000 | 984,232,000 | 1,073,709,000 | 1,073,248,000 | 811,930,000 | 825,910,000 | 632,802,000 | 682,774,000 | 737,988,000 | 734,976,000 | 774,046,000 | 811,651,000 | 567,401,000 | 595,070,000 | 453,957,000 | 454,341,000 | 220,529,000 |
liabilities and stockholdersʼ equity | ||||||||||||||||||||||||
current liabilities: | ||||||||||||||||||||||||
accounts payable | 74,849,000 | 56,761,000 | 47,507,000 | 54,427,000 | 24,456,000 | 29,319,000 | 32,379,000 | 61,788,000 | 29,627,000 | 29,784,000 | 19,912,000 | 21,306,000 | 24,382,000 | 14,067,000 | 14,174,000 | 14,057,000 | 10,491,000 | 10,435,000 | 9,650,000 | 12,609,000 | 6,656,000 | 10,173,000 | 7,877,000 | 11,400,000 |
accrued expenses and other current liabilities | 154,447,000 | 114,685,000 | 98,113,000 | 96,615,000 | 78,011,000 | 67,681,000 | 53,175,000 | 74,694,000 | 50,159,000 | 42,557,000 | 27,368,000 | 29,446,000 | 32,186,000 | 33,756,000 | 25,520,000 | 27,721,000 | 23,776,000 | 22,103,000 | 20,445,000 | 18,784,000 | 18,974,000 | 15,363,000 | 13,950,000 | 14,528,000 |
operating lease liability, current | 16,326,000 | 13,088,000 | 12,979,000 | 12,872,000 | 8,396,000 | 8,332,000 | 8,169,000 | 7,369,000 | 5,755,000 | 5,718,000 | 5,921,000 | 6,773,000 | 7,017,000 | 6,030,000 | 6,331,000 | 4,959,000 | 4,926,000 | 3,700,000 | 3,645,000 | 3,619,000 | 3,285,000 | |||
total current liabilities | 245,622,000 | 184,534,000 | 158,599,000 | 163,914,000 | 110,863,000 | 105,332,000 | 93,723,000 | 143,851,000 | 85,541,000 | 78,059,000 | 54,635,000 | 61,984,000 | 73,271,000 | 63,539,000 | 57,458,000 | 60,350,000 | 51,891,000 | 45,801,000 | 43,759,000 | 47,176,000 | 42,384,000 | 43,737,000 | 41,514,000 | 43,052,000 |
deferred tax liability | 2,353,000 | 2,353,000 | 2,353,000 | 2,353,000 | 3,115,000 | 3,115,000 | 3,115,000 | 3,115,000 | 3,158,000 | 7,025,000 | 7,025,000 | 7,025,000 | 7,148,000 | 7,444,000 | 7,444,000 | 7,444,000 | 7,444,000 | 7,444,000 | 7,444,000 | 7,444,000 | 7,085,000 | 7,085,000 | 7,103,000 | 7,819,000 |
operating lease liability, noncurrent | 142,135,000 | 119,699,000 | 121,363,000 | 122,971,000 | 78,310,000 | 79,079,000 | 79,860,000 | 80,575,000 | 57,093,000 | 57,538,000 | 57,676,000 | 57,432,000 | 58,183,000 | 58,922,000 | 59,583,000 | 26,827,000 | 27,566,000 | 28,294,000 | 29,669,000 | 30,337,000 | 7,403,000 | |||
liability related to the sale of future royalties | 256,509,000 | 245,081,000 | ||||||||||||||||||||||
warrant liability | 5,918,000 | 5,328,000 | 750,000 | 3,189,000 | 6,512,000 | |||||||||||||||||||
other noncurrent liabilities | 2,479,000 | 7,204,000 | 4,138,000 | 670,000 | 1,644,000 | 656,000 | 3,040,000 | 1,458,000 | 982,000 | 252,000 | 1,694,000 | 301,000 | 471,000 | 219,000 | 1,634,000 | 634,000 | 932,000 | 608,000 | 1,439,000 | 632,000 | 1,089,000 | 691,000 | 589,000 | 655,000 |
total liabilities | 655,016,000 | 564,199,000 | 287,203,000 | 293,097,000 | 196,695,000 | 189,589,000 | 182,895,000 | 235,511,000 | 146,774,000 | 142,874,000 | 121,030,000 | 126,742,000 | 144,491,000 | 133,961,000 | 131,781,000 | 135,420,000 | 96,772,000 | 89,040,000 | 89,071,000 | 92,725,000 | 90,000,000 | 93,459,000 | 69,025,000 | 67,994,000 |
commitments and contingencies | ||||||||||||||||||||||||
stockholdersʼ equity: | ||||||||||||||||||||||||
preferred stock, 0.0001 par value... | ||||||||||||||||||||||||
common stock, 0.0001 par value... | 18,000 | 18,000 | 18,000 | 18,000 | 16,000 | 16,000 | 16,000 | 16,000 | 11,000 | 11,000 | 11,000 | 9,000 | 9,000 | 8,000 | 8,000 | 8,000 | 8,000 | 8,000 | 8,000 | 7,000 | 7,000 | 6,000 | 6,000 | |
additional paid-in capital | 4,097,980,000 | 4,063,053,000 | 4,027,642,000 | 4,001,666,000 | 3,105,708,000 | 3,007,639,000 | 2,980,360,000 | 2,963,342,000 | 1,814,489,000 | 1,799,812,000 | 1,722,202,000 | 1,388,300,000 | 1,328,663,000 | 1,072,103,000 | 1,062,552,000 | 1,055,572,000 | 1,038,196,000 | 1,032,009,000 | 1,025,230,000 | 740,098,000 | 736,193,000 | 564,321,000 | 562,179,000 | 4,738,000 |
accumulated other comprehensive income | 3,116,000 | 1,302,000 | 1,707,000 | 1,321,000 | 3,812,000 | -1,863,000 | -1,198,000 | 544,000 | -2,419,000 | -1,765,000 | -1,284,000 | -376,000 | -40,000 | 9,000 | 63,000 | 116,000 | 211,000 | 291,000 | 36,000 | 74,000 | ||||
accumulated deficit | -2,504,210,000 | -2,199,004,000 | -1,951,217,000 | -1,737,801,000 | -1,543,232,000 | -1,386,944,000 | -1,253,711,000 | -1,137,708,000 | -976,171,000 | -867,737,000 | -769,439,000 | -701,341,000 | -644,834,000 | -571,505,000 | -510,283,000 | -452,636,000 | -399,960,000 | -347,020,000 | -302,721,000 | -265,545,000 | -231,341,000 | -204,120,000 | -157,386,000 | |
total stockholdersʼ equity | 1,596,904,000 | 1,865,369,000 | 2,078,150,000 | 2,265,204,000 | 1,566,304,000 | 1,618,848,000 | ||||||||||||||||||
total liabilities and stockholdersʼ equity | 2,251,920,000 | 2,429,568,000 | 2,365,353,000 | 2,558,301,000 | 1,762,999,000 | 1,808,437,000 | ||||||||||||||||||
accounts receivable | 1,254,000 | 309,000 | 2,510,000 | 3,995,000 | 4,673,000 | 4,940,000 | 5,624,000 | 5,383,000 | 7,412,000 | 6,527,000 | 7,564,000 | |||||||||||||
warrant liabilities | 2,763,000 | 1,407,000 | 3,157,000 | |||||||||||||||||||||
liabilities and stockholders' equity | ||||||||||||||||||||||||
stockholders' equity: | ||||||||||||||||||||||||
total stockholders' equity | 1,725,467,000 | 1,826,194,000 | 952,218,000 | 685,188,000 | 681,419,000 | 498,841,000 | 550,993,000 | 638,204,000 | 685,006,000 | 722,580,000 | 474,676,000 | 505,070,000 | 360,498,000 | 385,316,000 | ||||||||||
total liabilities and stockholders' equity | 1,908,362,000 | 2,061,705,000 | 1,073,248,000 | 811,930,000 | 825,910,000 | 632,802,000 | 682,774,000 | |||||||||||||||||
deferred revenue, current | 1,434,000 | 4,459,000 | 9,686,000 | 9,686,000 | 11,433,000 | 12,358,000 | 12,665,000 | 8,337,000 | 9,964,000 | |||||||||||||||
liabilities and stockholders’ equity | ||||||||||||||||||||||||
stockholders’ equity: | ||||||||||||||||||||||||
accumulated other comprehensive loss | -871,000 | -1,251,000 | -556,000 | -1,780,000 | ||||||||||||||||||||
total stockholders’ equity | 837,458,000 | 930,835,000 | 602,568,000 | |||||||||||||||||||||
total liabilities and stockholders’ equity | 984,232,000 | 1,073,709,000 | ||||||||||||||||||||||
deferred revenue, noncurrent | 5,418,000 | 3,837,000 | 5,662,000 | 6,573,000 | 9,678,000 | 7,621,000 | 8,135,000 | |||||||||||||||||
account receivable | 5,929,000 | |||||||||||||||||||||||
liabilities, redeemable convertible preferred stock and stockholders' equity | ||||||||||||||||||||||||
operating lease liability | 6,214,000 | 3,672,000 | ||||||||||||||||||||||
total liabilities, redeemable convertible preferred stock and stockholders’ equity | 737,988,000 | |||||||||||||||||||||||
total liabilities, redeemable convertible preferred stock and stockholders' equity | 734,976,000 | 774,046,000 | 811,651,000 | 567,401,000 | 595,070,000 | 453,957,000 | 454,341,000 | |||||||||||||||||
stockholders' equity | ||||||||||||||||||||||||
receivable from related party | 6,393,000 | 9,299,000 | 7,331,000 | 8,450,000 | 8,737,000 | |||||||||||||||||||
deferred revenue, related party, current | 12,111,000 | 13,109,000 | 14,582,000 | 16,402,000 | 17,124,000 | |||||||||||||||||||
deferred rent, noncurrent | 1,741,000 | |||||||||||||||||||||||
deferred revenue, related party, noncurrent | 8,481,000 | 9,773,000 | 11,609,000 | 12,416,000 | 14,727,000 | |||||||||||||||||||
redeemable convertible preferred stock, 0.0001 par value... | 305,109,000 | |||||||||||||||||||||||
accumulated | -176,905,000 | |||||||||||||||||||||||
assets held for sale | ||||||||||||||||||||||||
liabilities, redeemable convertible preferred stock and stockholders' deficit | ||||||||||||||||||||||||
stockholders' (deficit) equity: | ||||||||||||||||||||||||
total stockholders' deficit | -152,574,000 | |||||||||||||||||||||||
total liabilities, redeemable convertible preferred stock and stockholders' deficit | 220,529,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities | |||||||||||||||||||||||||
net loss | -453,816,000 | -364,892,000 | -305,206,000 | -247,787,000 | -213,416,000 | -194,569,000 | -156,288,000 | -133,233,000 | -116,003,000 | -161,537,000 | -108,434,000 | -98,298,000 | -68,098,000 | -56,507,000 | -73,329,000 | -61,222,000 | -57,647,000 | -52,676,000 | -52,940,000 | -44,299,000 | -37,176,000 | -34,204,000 | -27,221,000 | -27,215,000 | -19,519,000 |
adjustments to reconcile net loss to net cash from operating activities: | |||||||||||||||||||||||||
amortization of intangible assets | 69,000 | 267,000 | 267,000 | 267,000 | 267,000 | 268,000 | 267,000 | 267,000 | 267,000 | 267,000 | 267,000 | 267,000 | 268,000 | 267,000 | 267,000 | 267,000 | 267,000 | 267,000 | 268,000 | 267,000 | 267,000 | 267,000 | 267,000 | 267,000 | |
stock-based compensation expense | 87,299,000 | 33,696,000 | 30,779,000 | 28,830,000 | 25,084,000 | 22,439,000 | 20,775,000 | 19,775,000 | 16,208,000 | 25,427,000 | 13,666,000 | 12,980,000 | 9,699,000 | 8,316,000 | 8,138,000 | 8,098,000 | 6,644,000 | 6,197,000 | 5,827,000 | 5,313,000 | 3,387,000 | 2,632,000 | 2,670,000 | 2,017,000 | 1,567,000 |
depreciation and amortization | 2,346,000 | 2,267,000 | 2,063,000 | 1,758,000 | 1,692,000 | 1,223,000 | 1,205,000 | 1,149,000 | 991,000 | 931,000 | 901,000 | 816,000 | 793,000 | 803,000 | 671,000 | 674,000 | 665,000 | 640,000 | 632,000 | ||||||
change in fair value of warrant liability | 15,788,000 | ||||||||||||||||||||||||
non-cash interest expense on liabilities related to sale of future royalties | 12,197,000 | ||||||||||||||||||||||||
net amortization of premium or discount on marketable securities | -3,223,000 | -4,554,000 | -5,717,000 | -7,743,000 | -9,817,000 | -8,826,000 | -9,593,000 | -10,902,000 | -15,244,000 | -8,633,000 | -5,144,000 | -4,851,000 | -3,577,000 | ||||||||||||
amortization of operating lease right-of-use asset | 2,189,000 | 2,366,000 | 2,008,000 | 1,777,000 | 1,757,000 | 1,385,000 | 967,000 | 888,000 | 956,000 | 1,244,000 | 611,000 | 283,000 | 1,061,000 | 1,182,000 | 1,175,000 | 1,136,000 | 1,122,000 | 979,000 | 691,000 | 770,000 | 740,000 | 759,000 | 698,000 | 764,000 | 645,000 |
changes in operating assets and liabilities: | |||||||||||||||||||||||||
prepaid expenses and other current assets | -10,471,000 | -3,377,000 | -5,355,000 | -7,361,000 | 6,426,000 | -5,112,000 | 4,357,000 | -8,353,000 | -590,000 | -2,252,000 | -870,000 | -1,135,000 | 1,611,000 | 4,586,000 | 834,000 | -5,783,000 | -3,416,000 | 638,000 | 694,000 | 123,000 | -1,257,000 | 158,000 | 459,000 | 661,000 | -3,202,000 |
accounts payable | 16,857,000 | -10,501,000 | 19,545,000 | 8,761,000 | -8,270,000 | 29,363,000 | -2,788,000 | -4,080,000 | -28,960,000 | 24,305,000 | 580,000 | 8,634,000 | -1,050,000 | -1,507,000 | 10,239,000 | -952,000 | -492,000 | 2,573,000 | 189,000 | 1,608,000 | -2,131,000 | 4,616,000 | -3,370,000 | 2,143,000 | -3,084,000 |
accrued expenses and other current liabilities | -16,739,000 | 54,604,000 | 45,294,000 | 10,820,000 | 1,549,000 | 18,298,000 | 10,281,000 | 14,665,000 | -21,259,000 | -6,291,000 | 7,577,000 | 15,134,000 | -1,752,000 | -2,966,000 | -1,295,000 | 7,877,000 | -2,114,000 | 3,743,000 | 1,734,000 | 2,043,000 | 1,200,000 | -191,000 | 3,760,000 | 2,249,000 | -963,000 |
operating lease liability | -2,073,000 | 241,000 | 1,858,000 | -1,555,000 | -1,501,000 | 993,000 | -705,000 | -618,000 | 85,000 | -175,000 | -408,000 | -55,000 | -894,000 | -995,000 | 248,000 | -962,000 | -719,000 | -590,000 | -706,000 | 498,000 | -670,000 | -650,000 | -642,000 | -498,000 | -775,000 |
long-term deposits | -10,561,000 | -7,297,000 | |||||||||||||||||||||||
other prepaid and noncurrent assets | 378,000 | ||||||||||||||||||||||||
other noncurrent liabilities | 5,664,000 | -1,270,000 | -3,966,000 | 2,305,000 | 3,468,000 | -768,000 | 1,075,000 | -2,227,000 | 2,132,000 | -524,000 | 730,000 | -1,442,000 | 1,393,000 | -170,000 | 340,000 | -1,391,000 | 1,031,000 | -271,000 | 366,000 | -797,000 | 853,000 | -390,000 | 439,000 | 146,000 | -19,000 |
net cash from operating activities | -354,165,000 | -274,238,000 | -207,311,000 | -221,757,000 | -194,435,000 | -138,290,000 | -130,419,000 | -128,167,000 | -160,560,000 | -120,563,000 | -100,497,000 | -67,121,000 | -62,391,000 | -61,788,000 | -51,737,000 | -55,716,000 | -55,160,000 | -39,265,000 | -36,588,000 | -34,081,000 | -37,246,000 | -25,034,000 | -27,021,000 | -19,991,000 | -28,018,000 |
capital expenditures | -752,000 | -1,471,000 | -4,834,000 | -7,328,000 | -481,000 | -262,000 | -5,666,000 | -1,526,000 | -1,278,000 | -1,035,000 | -3,236,000 | 167,000 | -1,014,000 | -4,211,000 | -3,701,000 | -1,268,000 | -217,000 | -98,000 | -648,000 | -1,956,000 | -2,697,000 | 203,000 | -776,000 | 19,000 | -566,000 |
free cash flows | -354,917,000 | -275,709,000 | -212,145,000 | -229,085,000 | -194,916,000 | -138,552,000 | -136,085,000 | -129,693,000 | -161,838,000 | -121,598,000 | -103,733,000 | -66,954,000 | -63,405,000 | -65,999,000 | -55,438,000 | -56,984,000 | -55,377,000 | -39,363,000 | -37,236,000 | -36,037,000 | -39,943,000 | -24,831,000 | -27,797,000 | -19,972,000 | -28,584,000 |
cash flows from investing activities | |||||||||||||||||||||||||
purchases of marketable securities | -209,733,000 | -296,485,000 | -459,038,000 | -529,291,000 | -510,036,000 | -695,210,000 | -364,877,000 | -374,855,000 | -701,681,000 | -519,605,000 | -170,039,000 | -176,175,000 | -193,097,000 | -160,335,000 | -212,964,000 | -127,652,000 | -111,818,000 | -110,814,000 | -168,248,000 | -278,235,000 | -114,038,000 | -44,876,000 | -194,052,000 | -205,167,000 | -100,038,000 |
maturities of marketable securities | 383,886,000 | 373,292,000 | 487,236,000 | 564,633,000 | 497,353,000 | 303,529,000 | 346,928,000 | 485,198,000 | 456,882,000 | 141,520,000 | 249,926,000 | 133,750,000 | 198,851,000 | 156,107,000 | 93,051,000 | 192,579,000 | 157,732,000 | 120,530,000 | 129,533,000 | 156,765,000 | 119,926,000 | 108,991,000 | 93,772,000 | 66,140,000 | 40,925,000 |
purchases of property and equipment | -1,538,000 | -1,925,000 | -3,349,000 | -7,450,000 | -3,266,000 | -1,222,000 | -3,520,000 | -2,399,000 | -3,167,000 | -2,317,000 | -2,535,000 | -1,119,000 | -1,758,000 | -2,876,000 | -3,525,000 | -2,526,000 | -1,889,000 | -1,183,000 | -454,000 | -1,312,000 | -3,579,000 | -1,169,000 | -687,000 | -474,000 | -603,000 |
net cash from investing activities | 172,615,000 | 74,882,000 | 24,849,000 | 34,276,000 | -15,949,000 | -392,903,000 | -21,469,000 | 107,944,000 | -247,966,000 | -380,402,000 | 77,352,000 | -43,544,000 | 3,996,000 | -7,104,000 | -123,438,000 | 62,401,000 | 44,025,000 | 8,533,000 | -30,177,000 | -122,782,000 | 2,309,000 | 62,946,000 | -100,967,000 | -136,496,000 | -59,716,000 |
cash flows from financing activities | |||||||||||||||||||||||||
proceeds from issuance of common stock upon at-the-market offering, net of issuance costs | 226,730,000 | 0 | |||||||||||||||||||||||
proceeds from issuance of common stock under equity incentive plans | 12,209,000 | 4,145,000 | 1,937,000 | 891,000 | 4,179,000 | 3,001,000 | 4,340,000 | 810,000 | 1,338,000 | 1,011,000 | 468,000 | 499,000 | 777,000 | 209,000 | 190,000 | 305,000 | 356,000 | 319,000 | 257,000 | 555,000 | 687,000 | 1,077,000 | 86,000 | 27,000 | |
exercise of warrants | 57,000 | 0 | 3,000 | 0 | 1,000 | ||||||||||||||||||||
deferred offering costs | -252,000 | 45,000 | 2,000 | -18,000 | |||||||||||||||||||||
net cash from financing activities | 238,744,000 | 365,659,000 | -1,592,000 | 256,583,000 | 874,000 | 873,805,000 | 77,294,000 | 7,504,000 | 810,000 | 839,354,000 | 1,011,000 | 64,630,000 | 324,205,000 | 51,363,000 | 248,335,000 | 1,429,000 | 305,000 | 10,728,000 | 319,000 | 868,000 | 282,264,000 | 1,485,000 | 168,883,000 | -1,336,000 | 253,744,000 |
net increase in cash, cash equivalents and restricted cash | 57,194,000 | 342,612,000 | -74,594,000 | -12,719,000 | -407,716,000 | 338,389,000 | -22,134,000 | -46,035,000 | 265,810,000 | -17,529,000 | 73,160,000 | 8,114,000 | -10,830,000 | -20,004,000 | -66,446,000 | -155,995,000 | 247,327,000 | 39,397,000 | 40,895,000 | -157,823,000 | 166,010,000 | ||||
cash, cash equivalents and restricted cash - beginning of period | 388,603,000 | 0 | 0 | 546,762,000 | 0 | 0 | 699,179,000 | 0 | 0 | 163,149,000 | 0 | 0 | 110,234,000 | 0 | 0 | 105,352,000 | |||||||||
cash, cash equivalents and restricted cash - end of period | 445,797,000 | 166,303,000 | -184,054,000 | 69,102,000 | 337,252,000 | 342,612,000 | -74,594,000 | -12,719,000 | 291,463,000 | 338,389,000 | -22,134,000 | -46,035,000 | 428,959,000 | -17,529,000 | 73,160,000 | 8,114,000 | 99,404,000 | -66,446,000 | -155,995,000 | 352,679,000 | 40,895,000 | ||||
reconciliation of cash, cash equivalents and restricted cash to consolidated balance sheets | |||||||||||||||||||||||||
cash and cash equivalents | 440,939,000 | 166,303,000 | -184,996,000 | 68,884,000 | 333,554,000 | 341,802,000 | -74,451,000 | -12,719,000 | 288,432,000 | 337,749,000 | -21,931,000 | -46,892,000 | 427,222,000 | -17,529,000 | 73,160,000 | 8,114,000 | 97,667,000 | -20,657,000 | -66,446,000 | -155,995,000 | 351,595,000 | 39,397,000 | 40,895,000 | -158,693,000 | 182,669,000 |
restricted cash | 4,858,000 | 0 | 942,000 | 218,000 | 3,698,000 | 810,000 | -143,000 | 0 | 3,031,000 | 640,000 | -203,000 | 857,000 | 1,737,000 | 0 | 0 | 0 | 1,737,000 | 653,000 | 0 | 0 | 1,084,000 | 0 | 0 | 870,000 | 214,000 |
supplemental disclosure of non-cash investing and financing activities | |||||||||||||||||||||||||
purchases of property and equipment in accounts payable and accrued expenses and other current liabilities | 786,000 | 454,000 | -1,485,000 | 122,000 | 2,785,000 | 960,000 | -2,146,000 | 873,000 | 1,889,000 | 1,282,000 | -701,000 | 1,286,000 | 744,000 | -1,335,000 | -176,000 | 1,258,000 | 1,672,000 | 1,085,000 | -194,000 | -644,000 | 882,000 | 1,372,000 | -89,000 | 493,000 | 37,000 |
loss on disposal of fixed assets | 0 | -200,000 | 202,000 | 43,000 | 73,000 | 51,000 | 0 | 0 | 1,000 | 0 | 19,000 | ||||||||||||||
change in fair value of warrant liability and contingent earn-out shares | |||||||||||||||||||||||||
accounts receivable | 0 | 0 | 0 | 1,254,000 | -945,000 | 2,201,000 | 1,485,000 | 678,000 | 267,000 | 684,000 | -241,000 | 546,000 | -885,000 | 1,037,000 | -1,171,000 | ||||||||||
deferred revenue | 0 | 0 | -1,434,000 | -3,025,000 | -10,645,000 | 1,581,000 | -3,572,000 | -1,836,000 | -3,412,000 | 6,385,000 | -2,141,000 | -2,493,000 | |||||||||||||
deferred tax liability | -43,000 | -123,000 | 359,000 | 0 | -18,000 | -716,000 | |||||||||||||||||||
other noncurrent assets | -154,000 | 3,790,000 | -17,273,000 | 765,000 | 8,000 | -1,881,000 | -4,127,000 | 125,000 | 7,081,000 | -8,673,000 | 88,000 | 90,000 | -2,051,000 | -153,000 | 71,000 | -114,000 | -266,000 | 131,000 | |||||||
sales of marketable securities | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||
cash, cash equivalents and restricted cash acquired in connection with eqrx acquisition, net of transaction costs | |||||||||||||||||||||||||
proceeds from the sale of future royalties, net of issuance costs | |||||||||||||||||||||||||
proceeds from issuance of common stock, net of issuance costs | 0 | 0 | 0 | -564,000 | 281,709,000 | -34,000 | |||||||||||||||||||
proceeds from issuance of pre-funded warrants, net of transaction costs | |||||||||||||||||||||||||
proceeds from issuance of common stock from at-the-market offering, net of transaction costs | |||||||||||||||||||||||||
proceeds from issuance of common stock pursuant to stock option exercises | |||||||||||||||||||||||||
proceeds from issuance of common stock related to employee stock purchase plan | 3,392,000 | 0 | 1,865,000 | 0 | 1,208,000 | 0 | 625,000 | 0 | 0 | ||||||||||||||||
tax payment for common stock withheld in satisfaction of withholding tax requirements | |||||||||||||||||||||||||
payments of deferred offering costs | |||||||||||||||||||||||||
cash, cash equivalents and restricted cash - beginning of year | 0 | 16,873,000 | |||||||||||||||||||||||
cash, cash equivalents and restricted cash - end of year | -157,823,000 | 182,883,000 | |||||||||||||||||||||||
issuance of common stock for eqrx acquisition | |||||||||||||||||||||||||
fair value of net assets acquired in connection with eqrx acquisition | |||||||||||||||||||||||||
right-of-use assets obtained in exchange for operating lease liabilities | 0 | 286,000 | 0 | 0 | |||||||||||||||||||||
change in fair value of warrant liabilities and contingent earn-out shares | 592,000 | 4,578,000 | -2,439,000 | 1,269,000 | -1,907,000 | -3,905,000 | |||||||||||||||||||
non-cash interest expense on liability related to sale of future royalties | 11,428,000 | ||||||||||||||||||||||||
impairment of assets | 0 | 0 | 2,761,000 | ||||||||||||||||||||||
proceeds from the sale of future royalties | -5,785,000 | ||||||||||||||||||||||||
net decrease in cash, cash equivalents and restricted cash | -184,054,000 | 69,102,000 | -209,510,000 | ||||||||||||||||||||||
unpaid issuance costs on the liability related to the sale of future royalties | |||||||||||||||||||||||||
depreciation | 1,642,000 | 1,642,000 | 1,540,000 | 1,347,000 | |||||||||||||||||||||
proceeds from issuance of common stock upon follow-on offering, net of issuance costs | 0 | 0 | 323,706,000 | ||||||||||||||||||||||
unpaid/deferred offering costs | 15,000 | -1,000 | -11,000 | 7,000 | 7,000 | ||||||||||||||||||||
eqrx acquisition transaction costs incurred but not paid | |||||||||||||||||||||||||
vesting of early exercised options and restricted stock | 0 | 88,000 | 24,000 | 31,000 | 27,000 | 42,000 | 34,000 | 46,000 | 67,000 | 41,000 | 44,000 | 47,000 | |||||||||||||
advance payments for property and equipment | |||||||||||||||||||||||||
net amortization of premium (discount) on marketable securities | 693,000 | 534,000 | 586,000 | 400,000 | 87,000 | -105,000 | |||||||||||||||||||
proceeds from issuance of common stock from at-the-market offering | |||||||||||||||||||||||||
unpaid deferred offering costs | -72,000 | 89,000 | -207,000 | ||||||||||||||||||||||
loss on disposal of fixed asset | |||||||||||||||||||||||||
net amortization of premium on marketable securities | 27,000 | 648,000 | |||||||||||||||||||||||
loss on disposal of property and equipment | |||||||||||||||||||||||||
loss on disposal of held for sale assets | |||||||||||||||||||||||||
account receivable | |||||||||||||||||||||||||
deferred rent | |||||||||||||||||||||||||
proceeds from sales of property and equipment | |||||||||||||||||||||||||
proceeds from sale of held for sale assets | |||||||||||||||||||||||||
proceeds from issuance of redeemable convertible preferred stock, net of issuance costs | |||||||||||||||||||||||||
proceeds from issuance of common stock under employee stock purchase plan | |||||||||||||||||||||||||
repurchases of early exercised stock options | |||||||||||||||||||||||||
cash, cash equivalents and restricted cash – beginning of year | |||||||||||||||||||||||||
cash, cash equivalents and restricted cash – end of year | |||||||||||||||||||||||||
repurchases of early exercised stock | |||||||||||||||||||||||||
unpaid offering costs | 564,000 | 1,417,000 | |||||||||||||||||||||||
change in fair value of redeemable convertible preferred stock liability | |||||||||||||||||||||||||
receivable from related party | 2,906,000 | -1,968,000 | 1,119,000 | 287,000 | |||||||||||||||||||||
deferred revenue, related party | -2,290,000 | -3,309,000 | -2,627,000 | -3,033,000 | |||||||||||||||||||||
cash acquired in warp drive acquisition | |||||||||||||||||||||||||
redeemable convertible preferred stock issued in warp drive acquisition | |||||||||||||||||||||||||
extinguishment of redeemable convertible preferred stock liability | |||||||||||||||||||||||||
unpaid consideration for warp drive acquisition included within accrued expenses and other current liabilities | |||||||||||||||||||||||||
conversion of convertible note payable into series b redeemable convertible preferred stock | |||||||||||||||||||||||||
loss on disposal of held-for-sale assets | |||||||||||||||||||||||||
proceeds from sale of property and equipment | |||||||||||||||||||||||||
proceeds from sale of held-for-sale assets | |||||||||||||||||||||||||
gain on disposal of property and equipment | |||||||||||||||||||||||||
proceeds from issuance of common stock in initial public offering, net of issuance costs | -1,417,000 | 253,717,000 | |||||||||||||||||||||||
unpaid series c redeemable convertible preferred stock issuance costs | |||||||||||||||||||||||||
purchases of property and equipment in accounts payable |