Filing Flows › Connect Biopharma Holdings (CNTB) › Q3 2025
Connect Biopharma Holdings (CNTB) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 12, 2025
Connect Biopharma Holdings (CNTB) reported revenue of $16K for the third quarter 2025 (Q3 2025), -99% from a year earlier and -67% from the quarter before.
Connect Biopharma Holdings, Q3 2025: revenue $16K (-99% year over year), net loss $17.2M, operating cash flow −$17.4M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $16K | -67% | -99% |
| Operating profit | −$17.7M | — | — |
| Net earnings | −$17.2M | — | — |
| Operating cash flow | −$17.4M | — | — |
What changed
Revenue was $16K in Q3 2025, down 99% year over year and down 67% from the previous quarter.
Operating costs exceeded revenue by $17.7M, an operating margin of -110481.2%. Total costs grew 17% against a revenue fall of 99%. The fastest-growing cost line was Research & development (+23%). The quarter ended with a net loss of $17.2M, wider than the previous quarter's $12.9M loss.
Operating cash flow was −$17.4M. Non-cash charges added back $179K of depreciation and amortization and $916K of share-based compensation. Working capital and other items used $1.3M. Capital expenditures of $34K exceeded it, leaving free cash flow of −$17.4M.
Questions
What was Connect Biopharma Holdings' revenue in the third quarter 2025?
Connect Biopharma Holdings (CNTB) reported revenue of $16K for the third quarter 2025 (Q3 2025), -99% from a year earlier and -67% from the quarter before.