Filing Flows › Cue Biopharma (CUE) › Q4 2025
Cue Biopharma (CUE) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 16, 2026
Cue Biopharma (CUE) reported revenue of $21.9M for the fourth quarter 2025 (Q4 2025), up 14-fold from a year earlier and +921% from the quarter before. Operating margin was 9.0%, net earnings $1.6M (7.2% of revenue).
Cue Biopharma, Q4 2025: revenue $21.9M (14× year over year), operating margin 9.0%, net earnings $1.6M, operating cash flow −$1.1M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $21.9M | +921% | 14× |
| Operating profit | $2.0M | — | — |
| Net earnings | $1.6M | — | — |
| Operating cash flow | −$1.1M | — | — |
What changed
Revenue was $21.9M in Q4 2025, up 1292% year over year and up 921% from the previous quarter.
Operating profit was $2.0M, a 9.0% margin (up 620.2 points year over year). Total costs grew 78% against revenue growth of 1292%. The fastest-growing cost line was Research & development (+130%). Net earnings were $1.6M. The effective tax rate was 0.0%.
Operating cash flow was −$1.1M. Non-cash charges added back $678K of depreciation and amortization and $610K of share-based compensation. Working capital and other items used $3.9M.
Questions
What was Cue Biopharma's revenue in the fourth quarter 2025?
Cue Biopharma (CUE) reported revenue of $21.9M for the fourth quarter 2025 (Q4 2025), up 14-fold from a year earlier and +921% from the quarter before.
Was Cue Biopharma profitable in the fourth quarter 2025?
Operating profit was $2.0M (9.0% of revenue) and net earnings $1.6M.
Source: Cue Biopharma 10-K on SEC EDGAR.