Filing Flows › C4 Therapeutics (CCCC) › Q3 2025
C4 Therapeutics (CCCC) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
C4 Therapeutics (CCCC) reported revenue of $11.2M for the third quarter 2025 (Q3 2025), -27% from a year earlier and +74% from the quarter before. Operating margin was -306.4%, net loss $32.2M (286.4% of revenue).
C4 Therapeutics, Q3 2025: revenue $11.2M (-27% year over year), operating margin -306.4%, net loss $32.2M, operating cash flow −$31.2M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $11.2M | +74% | -27% |
| Operating profit | −$34.4M | — | — |
| Net earnings | −$32.2M | — | — |
| Operating cash flow | −$31.2M | — | — |
What changed
Revenue was $11.2M in Q3 2025, down 27% year over year and up 74% from the previous quarter.
Operating costs exceeded revenue by $34.4M, an operating margin of -306.4%. Total costs grew 5% against a revenue fall of 27%. The quarter ended with a net loss of $32.2M, wider than the previous quarter's $26.0M loss.
Operating cash flow was −$31.2M. Non-cash charges added back $460K of depreciation and amortization and $4.6M of share-based compensation. Working capital and other items used $4.1M. Capital expenditures of $411K exceeded it, leaving free cash flow of −$31.6M.
Questions
What was C4 Therapeutics' revenue in the third quarter 2025?
C4 Therapeutics (CCCC) reported revenue of $11.2M for the third quarter 2025 (Q3 2025), -27% from a year earlier and +74% from the quarter before.
Was C4 Therapeutics profitable in the third quarter 2025?
Operating loss was $34.4M (-306.4% of revenue) and net loss $32.2M.
Source: C4 Therapeutics 10-Q on SEC EDGAR.