Filing Flows › Alector (ALEC) › Q4 2025
Alector (ALEC) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 25, 2026
Alector (ALEC) reported revenue of $6.2M for the fourth quarter 2025 (Q4 2025), -89% from a year earlier and +91% from the quarter before. Operating margin was -634.4%, net loss $37.3M (597.5% of revenue).
Alector, Q4 2025: revenue $6.2M (-88% year over year), operating margin -634.4%, net loss $37.3M, operating cash flow −$41.7M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $6.2M | +91% | -89% |
| Operating profit | −$39.6M | — | — |
| Net earnings | −$37.3M | — | — |
| Operating cash flow | −$41.7M | — | — |
What changed
Revenue was $6.2M in Q4 2025, down 89% year over year and up 91% from the previous quarter.
Operating costs exceeded revenue by $39.6M, an operating margin of -634.4%. Total costs fell 26% while revenue fell 89%. The quarter ended with a net loss of $37.3M, wider than the previous quarter's $34.7M loss.
Operating cash flow was −$41.7M. Non-cash charges added back $1.2M of depreciation and amortization and $4.8M of share-based compensation. Working capital and other items used $10.4M.
Questions
What was Alector's revenue in the fourth quarter 2025?
Alector (ALEC) reported revenue of $6.2M for the fourth quarter 2025 (Q4 2025), -89% from a year earlier and +91% from the quarter before.
Was Alector profitable in the fourth quarter 2025?
Operating loss was $39.6M (-634.4% of revenue) and net loss $37.3M.
Source: Alector 10-K on SEC EDGAR.