Filing Flows › 4D Molecular Therapeutics (FDMT) › Q3 2025
4D Molecular Therapeutics (FDMT) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 10, 2025
4D Molecular Therapeutics (FDMT) reported revenue of $90K for the third quarter 2025 (Q3 2025), up 30-fold from a year earlier and +500% from the quarter before.
4D Molecular Therapeutics, Q3 2025: revenue $90K (30× year over year), net loss $56.9M, operating cash flow −$46.5M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $90K | +500% | 30× |
| Operating profit | −$61.2M | — | — |
| Net earnings | −$56.9M | — | — |
| Operating cash flow | −$46.5M | — | — |
What changed
Revenue was $90K in Q3 2025, up 2900% year over year and up 500% from the previous quarter.
Operating costs exceeded revenue by $61.2M, an operating margin of -67983.3%. Total costs grew 20% against revenue growth of 2900%. The fastest-growing cost line was Research & development (+28%). The quarter ended with a net loss of $56.9M, wider than the previous quarter's $54.7M loss.
Operating cash flow was −$46.5M. Non-cash charges added back $1.3M of depreciation and amortization and $4.5M of share-based compensation. Working capital and other items added $4.6M. Capital expenditures of −$91K exceeded it, leaving free cash flow of −$46.4M.
Questions
What was 4D Molecular Therapeutics' revenue in the third quarter 2025?
4D Molecular Therapeutics (FDMT) reported revenue of $90K for the third quarter 2025 (Q3 2025), up 30-fold from a year earlier and +500% from the quarter before.