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Foghorn Therapeutics (FHTX) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 6, 2026 · Foghorn Therapeutics (FHTX) Q2 2026 earnings results →
Q2 2026 Revenue up 113% year over year to $16.1M · 45¢ of every $1 of revenue lost · operating margin -54.8%
Foghorn Therapeutics made $16.1M in Q2 2026 (+113% Y/Y). Operating margin -54.8%, net loss $7.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 6, 2026.
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What changed this quarter
Revenue was $16.1M in Q2 2026, up 113% year over year and up 392% from the previous quarter.
Operating costs exceeded revenue by $8.8M, an operating margin of -54.8%. Total costs fell 13% while revenue rose 113%. The quarter ended with a net loss of $7.2M, narrower than the previous quarter's $19.9M loss. Non-operating items added $1.6M, -22% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$17.8M. Non-cash charges added back $200K of depreciation and amortization and $2.5M of share-based compensation. Working capital and other items used $13.4M. Capital expenditures of $50K exceeded it, leaving free cash flow of −$17.9M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 6, 2026 | $16.1M | +113% | -54.8% | −$7.2M | −$17.8M |
| Q1 2026 | 10-Q | May 7, 2026 | $3.3M | -45% | -660.3% | −$19.9M | −$25.3M |
| Q4 2025 | 10-K | Mar 11, 2026 | $9.2M | +224% | -258.2% | −$21.7M | −$22.3M |
| Q3 2025 | 10-Q | Nov 5, 2025 | $8.2M | +4% | -226.9% | −$15.8M | −$18.9M |
| Q2 2025 | 10-Q | Aug 5, 2025 | $7.6M | +10% | -279.2% | −$17.9M | −$21.0M |
| Q1 2025 | 10-Q | May 14, 2025 | $6.0M | +18% | -385.0% | −$18.8M | −$24.0M |
| Q4 2024 | 10-K | Mar 6, 2025 | $2.9M | -50% | -840.5% | −$19.5M | −$24.5M |
Charts
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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📈Investments: gains and what it boughtinteractive
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About Foghorn Therapeutics
Foghorn is a clinical stage, precision therapeutics biotechnology company pioneering a new class of medicines that treat serious diseases by correcting abnormal gene expression through selectively targeting the chromatin regulatory system, an untapped opportunity for therapeutic intervention in oncology and with potential in a wide spectrum of other diseases, including immunology and inflammation. The chromatin regulatory system orchestrates gene expression — the turning on and off of genes — which is fundamental to how all our cells function. The chromatin regulatory system is implicated in approximately 50 percent of all cancers, and understanding how this system works could lead to an entirely new class of precision medicines. To our knowledge, we are the only company with the ability to study and target the chromatin regulatory system at scale, in context, and in an integrated way.
In its own words, from its 10-K, filed Mar 11, 2026.
Foghorn Therapeutics against its Pharmaceutical Preparations peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +113% against the peers' median +10%. Operating margin: -54.8% against the peers' median 20.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| FHTX Foghorn Therapeutics | Q2 2026 | $16.1M | +113% | -54.8% |
| 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: Foghorn Therapeutics 10-Q on SEC EDGAR · CIK 1822462 · Pharmaceutical Preparations
13F: who owns FHTX and who is buying
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History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results