Filing Flows › Macrogenics (MGNX) › Q4 2025
Macrogenics (MGNX) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 9, 2026
Macrogenics (MGNX) reported revenue of $41.2M for the fourth quarter 2025 (Q4 2025), +113% from a year earlier and -43% from the quarter before. Operating margin was -29.3%, net loss $14.2M (34.3% of revenue).
Macrogenics, Q4 2025: revenue $41.2M (+113% year over year), operating margin -29.3%, net loss $14.2M, operating cash flow $43.0M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $41.2M | -43% | +113% |
| Operating profit | −$12.1M | -165% | — |
| Net earnings | −$14.2M | -184% | — |
| Operating cash flow | $43.0M | — | — |
| Free cash flow | $42.8M | — | — |
What changed
Revenue was $41.2M in Q4 2025, up 113% year over year and down 43% from the previous quarter.
Operating costs exceeded revenue by $12.1M, an operating margin of -29.3%. Total costs fell 26% while revenue rose 113%. The fastest-growing cost line was Other operating costs (+92%). The quarter ended with a net loss of $14.2M, after a profit of $16.8M the previous quarter.
Operating cash flow was $43.0M. Non-cash charges added back $1.7M of depreciation and amortization and $2.7M of share-based compensation. Working capital and other items added $52.8M. Capital expenditures of $244K left free cash flow of $42.8M.
Questions
What was Macrogenics' revenue in the fourth quarter 2025?
Macrogenics (MGNX) reported revenue of $41.2M for the fourth quarter 2025 (Q4 2025), +113% from a year earlier and -43% from the quarter before.
Was Macrogenics profitable in the fourth quarter 2025?
Operating loss was $12.1M (-29.3% of revenue) and net loss $14.2M.
Source: Macrogenics 10-K on SEC EDGAR.