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Crinetics Pharmaceuticals earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 3, 2026
Q2 2026 Revenue up 2336% year over year to $25.1M · 481¢ of every $1 of revenue lost · operating margin -527.3%
Crinetics Pharmaceuticals made $25.1M in Q2 2026 (24× Y/Y): Product revenue, net $24.0M, Collaboration and license revenue $1.1M. Operating margin -527.3%, net loss $121M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 3, 2026.
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What changed this quarter
Revenue was $25.1M in Q2 2026, up 2336% year over year and up 134% from the previous quarter. Product revenue, net was the largest line at 96% of revenue. Collaboration and license revenue added $49K year over year (up 5%), 0% of the total change.
Operating costs exceeded revenue by $132.5M, an operating margin of -527.3%. Total costs grew 21% against revenue growth of 2336%. The fastest-growing cost line was Research & development (+24%). The quarter ended with a net loss of $120.9M, narrower than the previous quarter's $127.8M loss.
Operating cash flow was −$94.2M. Non-cash charges added back $1.1M of depreciation and amortization and $24.9M of share-based compensation. Capital expenditures of $521K exceeded it, leaving free cash flow of −$94.7M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 3, 2026 | $25.1M | 24× | -527.3% | −$121M | −$94.2M |
| Q1 2026 | 10-Q | May 7, 2026 | $10.7M | 30× | n/m | −$128M | −$125M |
| Q4 2025 | 10-K | Feb 26, 2026 | $6.2M | — | n/m | −$123M | −$92.9M |
| Q3 2025 | 10-Q | Nov 6, 2025 | $143K | — | n/m | −$130M | −$111M |
| Q2 2025 | 10-Q | Aug 7, 2025 | $1.0M | +158% | n/m | −$116M | −$85.9M |
| Q1 2025 | 10-Q | May 8, 2025 | $361K | -44% | n/m | −$96.8M | −$88.5M |
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About Crinetics Pharmaceuticals
We are a pharmaceutical company committed to transforming the treatment of endocrine diseases and endocrine-related tumors through science rooted in patient needs. We are focused on discovering, developing, and commercializing novel therapies, with a core expertise in targeting GPCRs with small molecules that have specifically tailored pharmacology and properties. Our lead product, PALSONIFY (paltusotine), is the first once-daily, oral treatment approved by the FDA for the treatment of adults with acromegaly who had an inadequate response to surgery and/or for whom surgery is not an option. Paltusotine is also in clinical development for CS associated with NETs.
In its own words, from its 10-K, filed Feb 26, 2026.
Crinetics Pharmaceuticals against its Pharmaceutical Preparations peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: 24× against the peers' median +10%. Operating margin: -527.3% against the peers' median 20.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| Crinetics Pharmaceuticals | Q2 2026 | $25.1M | 24× | -527.3% |
| JNJ Johnson & Johnson | Q3 2026 | $25.4B | +6% | 0.1% |
| LLY ELI Lilly | Q3 2026 | $24.4B | +39% | 34.5% |
| MRK Merck | Q3 2026 | $18.1B | +5% | 30.7% |
| ABBV AbbVie | Q3 2026 | $17.4B | +10% | 36.0% |
| PFE Pfizer | Q3 2026 | $16.6B | -0.4% | 20.4% |
| BMY Bristol Myers Squibb | Q3 2026 | $13.1B | +7% | 19.4% |
| ABT Abbott Laboratories | Q3 2026 | $13.0B | +14% | 10.4% |
| REGN Regeneron Pharmaceuticals | Q3 2026 | $5.1B | +36% | 40.0% |
Source: Crinetics Pharmaceuticals 10-Q on SEC EDGAR · CIK 1658247 · Pharmaceutical Preparations