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Alumis (ALMS) earnings and revenue breakdown

Latest: Q2 2026 · 10-Q filed Aug 13, 2026 · Alumis (ALMS) Q2 2026 earnings results →

Q2 2026 Revenue down 38% year over year to $1.7M

Alumis made $1.7M in Q2 2026 (-38% Y/Y). Operating margin n/m, net loss $142M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 13, 2026.

Revenue$1.7M
Year over year-38%
Operating marginn/m
Net earnings−$142M
Operating cash flow−$81.5M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $1.7M in Q2 2026, down 38% year over year and down 5% from the previous quarter.

Operating costs exceeded revenue by $148.9M, an operating margin of -8956.4%. Total costs grew 5% against a revenue fall of 38%. The quarter ended with a net loss of $142.2M, wider than the previous quarter's $93.1M loss.

Operating cash flow was −$81.5M. Non-cash charges added back $874K of depreciation and amortization and $14.3M of share-based compensation. Working capital and other items added $45.6M. Capital expenditures of $237K exceeded it, leaving free cash flow of −$81.7M.

Quarterly history

Alumis revenue by quarterAlumis revenue by quarter$17.4MQ1 2025$2.7MQ2 2025$2.1MQ3 2025$1.9MQ4 2025$1.7MQ1 2026$1.7MQ2 2026
Alumis net earnings by quarterAlumis net earnings by quarter−$99.0MQ1 2025$59.3MQ2 2025−$111MQ3 2025−$92.9MQ4 2025−$93.1MQ1 2026−$142MQ2 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 202610-QAug 13, 2026$1.7M-38%n/m−$142M−$81.5M
Q1 202610-QMay 14, 2026$1.7M-90%n/m−$93.1M−$87.1M
Q4 202510-KMar 19, 2026$1.9M—n/m−$92.9M−$71.9M
Q3 202510-QNov 13, 2025$2.1M—n/m−$111M−$111M
Q2 202510-QAug 13, 2025$2.7M—n/m$59.3M−$106M
Q1 202510-QMay 14, 2025$17.4M—-583.9%−$99.0M−$80.4M

Charts

Alumis: revenue growth, year over year and quarter over quarterAlumis: revenue growth, year over year and quarter over quarterY/YQ/Q-85%Q2 2025-23%Q3 2025-7%Q4 2025-90%-10%Q1 2026-38%-5%Q2 2026
Latest (Q2 2026): Y/Y -38%, Q/Q -5%.
Alumis: where the cash came from (+) and went (−), TTM to Q2 2026Alumis: where the cash came from (+) and went (−), TTM to Q2 2026Other financing$359MOperating cash flow−$351MOther investing−$97.5MCash drawn (+) / kept (−)$88.4MShares issued$2.4MCapital spending−$401K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Alumis: profit against cash, quarter by quarterAlumis: profit against cash, quarter by quarterNet incomeOperating cash flow−$93.1M−$83.8MQ3 2024−$94.8M−$74.8MQ4 2024−$99.0M−$80.4MQ1 2025$59.3M−$106MQ2 2025−$111M−$111MQ3 2025−$92.9M−$71.9MQ4 2025−$93.1M−$87.1MQ1 2026−$142M−$81.5MQ2 2026
Latest (Q2 2026): Net income −$142M, Operating cash flow −$81.5M.
Alumis: diluted shares by fiscal year (split-adjusted)Alumis: diluted shares by fiscal year (split-adjusted)6MFY202385MFY202485MFY2025
+1218.2% since FY2023: more shares outstanding (issuance, stock pay); earlier years scaled for the 3-for-1 split before FY2025.
Alumis in its industry: growth against margin (225 companies, SIC 2834)Alumis in its industry: growth against margin (225 companies, SIC 2834)revenue growth, year over year →↑ operating marginmedian +11%median -50%JNJLLYMRKABBVPFEBMYABTREGNTEVAVTRSVRTXBHCZTSONCOGNALNYELANJAZZBMRNPRGOAMRXUTHRRPRXNRIXINSMKeenova Therapeutics plcALKSMDGLPAHCSRPTPTCTINDVBBIOACADCORTPBHANIPKNSAPTGXHRMYIONSAXSMTGTXSUPNTVTXCOLLVREOFAMPHMIRMPCRXRARELQDAARQTIRWDARDXNATRXNCREBSZLABXERSINVACRMDMNKDRYTMURGNPHATAUPHSNDXRIGLLGNDEOLSARWRPGENHROWVNDAOPKSDGRGERNETONAGIOPBYITNGXCYRXCYTKMRVIORGONUVBLFVNSIGAKROSAMRNZVRASPRYHRTXAKBABCYCKPTIGYREMGNXELTPSEPNVRDNLFCRCrinetics Pharmaceuticals, Inc.VSTMKURATBPHLABADCTNAMSFBIOXLODERMARCTRMTIAYTUFHTXENTATNXPOCULASMBWVEAPMDBFRIABEOSTOKLXRXCAPRIDYANKTRZOMDFINBPJANXSBFMGOSSETSTRCUSCPIXLIFDCUEAQSTPRAXWHWKVERUEMMAGENBVRCACELUQUREZYMEEQABCLIMNMKYNBAKTSRNACVSICNTBTRAWISCOEVFMTVRDLPCNCAMPAtaiBeckley Inc.CTMXPMHSACRSVTGNROIVKRROJAGXENSCKRSAABUSPRPHSTTKCPHITRDATXMDGOVXNWBOBIOEUPBIRDOVIDSPRBXBIOPRTAMCRBARVNMNOVSLNIGCBIOALGVNDNTHCPMDSPRORFLCOYASCYXBFRGSXTPBTAIQHCWBSERYARWRNACRGBPAVTXCLNNNTHIHINDAAGHALTONCOCRVOSKVIBOLTBDPTLYELIBOPULMALMS (-38%, -100%)
Pharmaceutical Preparations; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Alumis

Our mission is to significantly improve the lives of patients by replacing broad immunosuppression with targeted therapies. Our name, Alumis, captures our mission to enlighten immunology, and is inspired by the words “allumer”—French for illuminate—and “immunis”—Latin for the immune system. We are a clinical stage biopharmaceutical company with an initial focus on developing our two Tyrosine Kinase 2 (“TYK2”) inhibitors: envudeucitinib (“envu”), formerly known as ESK-001, a second-generation inhibitor that we are developing to maximize target inhibition and optimize tolerability, and A-005, a central nervous system (“CNS”) penetrant allosteric TYK2 inhibitor.

In its own words, from its 10-K, filed Mar 19, 2026.

Alumis against its Pharmaceutical Preparations peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -38% against the peers' median +7%.

CompanyQuarterRevenueY/YOp. margin
ALMS AlumisQ2 2026$1.7M-38%n/m
JNJ Johnson & JohnsonQ3 2026$25.4B+6%0.1%
LLY ELI LillyQ3 2026$24.4B+39%34.5%
MRK MerckQ3 2026$18.1B+5%30.7%
ABBV AbbVieQ3 2026$17.4B+10%36.0%
PFE PfizerQ3 2026$16.6B-0.4%20.4%
BMY Bristol Myers SquibbQ3 2026$13.1B+7%19.4%
ABT Abbott LaboratoriesQ3 2026$13.0B+14%10.4%
REGN Regeneron PharmaceuticalsQ3 2026$5.1B+36%40.0%

Source: Alumis 10-Q on SEC EDGAR · CIK 1847367 · Pharmaceutical Preparations

13F: who owns ALMS and who is buying

Largest holders of ALMS (13F)Largest holders of ALMS (13F)AyurMaya Capital Management Compa…$426MBlackRock$231MFMR LLC$190MDeep Track Capital, LP$179MSamsara BioCapital, LLC$179MForesite Capital Management V, LLC$166MPrice T Rowe Associates$146MvenBio Partners LLC$127MForesite Capital Management VI LLC$120MVanguard Capital Management LLC$119M
Funds' net buying of ALMS by quarter (13F)Funds' net buying of ALMS by quarter (13F)$49.0M2024-09$3.2M2024-12−$13.8M2025-03−$53.1M2025-06$987K2025-09$24.4M2025-12$748M2026-03$78.9M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on ALMS

History

Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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中文版：Alumis（ALMS）财报

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