FDMT

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4D Molecular Therapeutics, Inc.

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Key Metrics

Previous Close: $16.76
52-Week Range: $5.97 – $16.93
Market Cap: $889.43M
P/E (TTM): —
EPS (TTM): -2.63
Dividend Yield: —

Advanced Metrics

Price/Book: 2.18
PEG Ratio: —
Return on Equity: -43.25%
Return on Assets: -25.09%
Gross Margin: -157.70%
Operating Margin: -2037.16%
Profit Margin: -194.74%
Current Ratio: 8.03
Debt/Equity: 0.10
Total Debt: $39.22M
Free Cash Flow: $-90.77M
Revenue Growth: 25106.70%
Earnings Growth: —
Enterprise Value: $603.78M

FDMT Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$3.13M	$20.72M	$37.00K	$85.21M
Research & Development	$80.25M	$97.10M	$141.30M	$195.70M
Selling, General & Admin	$32.91M	$36.49M	$46.58M	$49.06M
Operating Expenses	$113.16M	$133.59M	$187.88M	$244.76M
Operating Income	-$110.03M	-$112.87M	-$187.84M	-$159.55M
EBITDA	-$106.15M	-$107.12M	-$181.14M	-$151.92M
Pretax Income	-$107.49M	-$100.84M	-$160.87M	-$140.11M
Net Income	-$107.49M	-$100.84M	-$160.87M	-$140.11M
Diluted EPS	-3.32	-2.58	-2.98	-2.42
Diluted Shares	32.35M	39.13M	53.94M	57.93M

FDMT Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$52.35M	$249.11M	$149.34M	$60.24M
Receivables	$0.00	—	—	—
Current Assets	$220.51M	$296.59M	$434.93M	$413.13M
Total Assets	$261.85M	$339.89M	$560.38M	$566.71M
Current Liabilities	$15.73M	$18.95M	$29.15M	$43.98M
Total Debt	$16.12M	$14.67M	$24.61M	$21.41M
Total Liabilities	$30.51M	$32.06M	$49.78M	$61.05M
Retained Earnings	-$314.49M	-$415.33M	-$576.20M	-$716.30M
Shareholders' Equity	$231.34M	$307.83M	$510.61M	$505.66M
Working Capital	$204.78M	$277.64M	$405.78M	$369.15M

FDMT Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$86.69M	-$75.79M	-$134.59M	-$109.08M
Capital Expenditure	-$11.54M	-$2.77M	-$3.79M	-$536.00K
Free Cash Flow	-$98.22M	-$78.56M	-$138.37M	-$109.62M
Depreciation & Amortisation	$3.88M	$5.75M	$6.71M	$7.63M
Stock-Based Compensation	$17.12M	$19.66M	$26.12M	$22.02M
Investing Cash Flow	-$17.05M	$115.72M	-$302.44M	-$92.97M
Financing Cash Flow	$3.08M	$156.83M	$337.25M	$112.96M
Net Change in Cash	-$100.65M	$196.76M	-$99.77M	-$89.09M

FDMT Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$14.00K	$15.00K	$90.00K	$85.09M	$3.05M
Research & Development	$40.70M	$47.95M	$49.44M	$57.61M	$64.98M
Selling, General & Admin	$12.94M	$11.52M	$11.84M	$12.77M	$11.69M
Operating Expenses	$53.63M	$59.47M	$61.27M	$70.38M	$76.67M
Operating Income	-$53.62M	-$59.46M	-$61.19M	$14.71M	-$73.62M
EBITDA	-$51.87M	-$57.57M	-$59.18M	$16.70M	-$71.56M
Pretax Income	-$47.97M	-$54.66M	-$56.88M	$19.40M	-$68.76M
Net Income	-$47.97M	-$54.66M	-$56.88M	$19.40M	-$68.76M
Diluted EPS	-0.86	-0.98	-1.01	—	-1.01
Diluted Shares	55.74M	55.93M	56.13M	—	68.06M

FDMT Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$133.53M	$77.16M	$48.55M	$60.24M	$72.49M
Current Assets	$332.57M	$303.29M	$312.38M	$413.13M	$405.36M
Total Assets	$515.73M	$473.64M	$423.98M	$566.71M	$512.90M
Current Liabilities	$26.90M	$34.68M	$37.11M	$43.98M	$43.40M
Total Debt	$23.85M	$23.08M	$22.26M	$21.41M	$20.54M
Total Liabilities	$46.01M	$52.75M	$55.00M	$61.05M	$61.07M
Retained Earnings	-$624.17M	-$678.83M	-$735.70M	-$716.30M	-$785.06M
Shareholders' Equity	$469.72M	$420.89M	$368.98M	$505.66M	$451.84M
Working Capital	$305.67M	$268.61M	$275.27M	$369.15M	$361.96M

FDMT Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$47.76M	-$43.38M	-$46.50M	$28.55M	-$68.13M
Capital Expenditure	-$631.00K	-$66.00K	—	—	—
Free Cash Flow	-$48.39M	-$43.44M	-$46.41M	$28.62M	-$68.13M
Depreciation & Amortisation	$1.75M	$1.89M	$2.00M	$1.98M	$2.06M
Stock-Based Compensation	$6.99M	$4.96M	$4.52M	$5.55M	$4.45M
Investing Cash Flow	$31.95M	-$13.85M	$17.78M	-$128.85M	$68.89M
Financing Cash Flow	$0.00	$862.00K	$116.00K	$111.98M	$11.48M
Net Change in Cash	-$15.81M	-$56.37M	-$28.60M	$11.69M	$12.25M

Market Snapshot

About

4D Molecular Therapeutics, Inc. is a clinical-stage gene therapy company developing treatments for severe cardiovascular and pulmonary diseases. The company's proprietary platform creates targeted and evolved adeno-associated virus (AAV) vectors designed for specific tissues and disease applications. 4D Molecular Therapeutics' lead programs address conditions including Fabry disease, cystic fibrosis, and pulmonary arterial hypertension. The company's Therapeutic Vector Evolution platform combines directed evolution with machine learning to optimize vector performance. Clinical trials are evaluating the safety and efficacy of these novel gene therapy candidates.