Filing Flows › Cue Biopharma (CUE) › Q3 2025
Cue Biopharma (CUE) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 12, 2025
Cue Biopharma (CUE) reported revenue of $2.1M for the third quarter 2025 (Q3 2025), -36% from a year earlier and -27% from the quarter before. Operating margin was -353.4%, net loss $7.4M (346.6% of revenue).
Cue Biopharma, Q3 2025: revenue $2.1M (-36% year over year), operating margin -353.4%, net loss $7.4M, operating cash flow −$9.0M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.1M | -27% | -36% |
| Operating profit | −$7.6M | — | — |
| Net earnings | −$7.4M | — | — |
| Operating cash flow | −$9.0M | — | — |
What changed
Revenue was $2.1M in Q3 2025, down 36% year over year and down 27% from the previous quarter.
Operating costs exceeded revenue by $7.6M, an operating margin of -353.4%. Total costs fell 20% while revenue fell 36%. The quarter ended with a net loss of $7.4M, narrower than the previous quarter's $8.5M loss.
Operating cash flow was −$9.0M. Non-cash charges added back $80K of depreciation and amortization and $1.5M of share-based compensation. Working capital and other items used $3.2M.
Questions
What was Cue Biopharma's revenue in the third quarter 2025?
Cue Biopharma (CUE) reported revenue of $2.1M for the third quarter 2025 (Q3 2025), -36% from a year earlier and -27% from the quarter before.
Was Cue Biopharma profitable in the third quarter 2025?
Operating loss was $7.6M (-353.4% of revenue) and net loss $7.4M.
Source: Cue Biopharma 10-Q on SEC EDGAR.