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Keros Therapeutics (KROS) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Keros Therapeutics (KROS) Q3 2026 earnings results →
Q3 2026 Revenue up 183% year over year to $40.0M · 35¢ of every $1 of revenue kept as net profit · operating margin 32.0%
Keros Therapeutics made $40.0M in Q3 2026 (+183% Y/Y). Operating margin 32.0%, net earnings $14.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $40.0M in Q3 2026, up 183% year over year.
Operating profit was $12.8M, a 32.0% margin (up 141.0 points year over year). Total costs fell 8% while revenue rose 183%. Net earnings were $14.2M. The effective tax rate was 5.2%.
Operating cash flow was $3.4M (up 4% year over year), 24% of net earnings. Non-cash charges added back $384K of depreciation and $4.2M of share-based compensation. Working capital and other items used $15.3M. Capital expenditures of $59K left free cash flow of $3.3M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $40.0M | +183% | 32.0% | $14.2M | $3.4M |
| Q1 2026 | 10-Q | May 14, 2026 | $367K | -100% | n/m | −$23.7M | −$3.5M |
| Q4 2025 | 10-K | Mar 4, 2026 | $380K | -88% | n/m | −$23.5M | −$27.3M |
| Q3 2025 | 10-Q | Nov 5, 2025 | $14.1M | 36× | -108.9% | −$7.3M | $3.2M |
| Q2 2025 | 10-Q | Aug 6, 2025 | $18.2M | 491× | -219.2% | −$30.7M | −$29.6M |
| Q1 2025 | 10-Q | May 6, 2025 | $211M | 2,544× | 72.0% | $148M | $161M |
Charts
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Keros Therapeutics
We are a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapeutics to treat a wide range of patients with disorders that are linked to dysfunctional signaling of the transforming growth factor-beta, or TGF-ß, family of proteins. We are a leader in understanding the role of the TGF-ß family of proteins, which are master regulators of the growth, repair and maintenance of a number of tissues, including skeletal muscle, bone, adipose, heart tissue and blood. By leveraging this understanding, we have discovered and are developing protein therapeutics that have the potential to provide meaningful and potentially disease-modifying benefit to patients. Our lead product candidate, rinvatercept (KER-065), is being developed for the treatment of neuromuscular diseases.
In its own words, from its 10-K, filed Mar 4, 2026.
Keros Therapeutics against its Pharmaceutical Preparations peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +183% against the peers' median +10%. Operating margin: 32.0% against the peers' median 30.7%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| KROS Keros Therapeutics | Q3 2026 | $40.0M | +183% | 32.0% |
| 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: Keros Therapeutics 10-Q on SEC EDGAR · CIK 1664710 · Pharmaceutical Preparations
Guidance and outlook
13F: who owns KROS and who is buying
More on KROS
- How Keros Therapeutics makes money: revenue by segment
- Keros Therapeutics next earnings date and what analysts expect
- Keros Therapeutics stock forecast, price target and fair value
- Who owns Keros Therapeutics stock: holders, funds and Congress trades
- Keros Therapeutics guidance and outlook
- Keros Therapeutics recalls, complaints and regulation
History
Every quarter: Q3 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results