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Metagenomi Therapeutics (MGX) earnings and revenue breakdown
Latest: Q1 2026 · 10-Q filed May 11, 2026 · Metagenomi Therapeutics (MGX) Q1 2026 earnings results →
Q1 2026 Revenue down 70% year over year to $1.2M
Metagenomi Therapeutics made $1.2M in Q1 2026 (-70% Y/Y). Operating margin n/m, net loss $23.1M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed May 11, 2026.
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What changed this quarter
Revenue was $1.2M in Q1 2026, down 70% year over year and down 68% from the previous quarter.
Operating costs exceeded revenue by $24.6M, an operating margin of -1970.1%. Total costs fell 19% while revenue fell 70%. The quarter ended with a net loss of $23.1M, wider than the previous quarter's $22.5M loss.
Operating cash flow was −$21.2M. Non-cash charges added back $1.3M of depreciation and $2.6M of share-based compensation. Working capital and other items used $1.9M. Capital expenditures of $25K exceeded it, leaving free cash flow of −$21.2M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q1 2026 | 10-Q | May 11, 2026 | $1.2M | -70% | n/m | −$23.1M | −$21.2M |
| Q4 2025 | 10-K | Mar 5, 2026 | $3.9M | -59% | -623.0% | −$22.5M | −$23.5M |
| Q3 2025 | 10-Q | Nov 12, 2025 | $8.7M | -25% | -263.8% | −$20.4M | −$21.3M |
| Q2 2025 | 10-Q | Aug 12, 2025 | $8.5M | -58% | -246.5% | −$19.9M | −$21.3M |
| Q1 2025 | 10-Q | May 13, 2025 | $4.1M | -63% | -674.1% | −$25.0M | −$22.8M |
| Q4 2024 | 10-K | Mar 17, 2025 | $9.6M | -22% | -214.5% | −$23.4M | −$26.3M |
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 Metagenomi Therapeutics
Metagenomi Therapeutics, Inc. is an in vivo genome editing company capitalizing on its proprietary technologies to create curative genetic medicines for patients. The Company was founded on the science of metagenomics, the study of genetic materials recovered from the natural environment, to discover and develop a suite of novel CRISPR gene-editing tools potentially capable of correcting any type of genetic mutation found anywhere in the human genome. The Company focuses on high value programs in disease indications with well-understood biology and clearly defined clinical development and regulatory pathways. Going forward, the Company intends to continue to expand its pipeline by leveraging its proprietary genetic editing capabilities in site specific deletion, insertion and correction.
In its own words, from its 8-K, filed Aug 10, 2026.
Metagenomi Therapeutics against its Biological Products, (No Diagnostic Substances) peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -70% against the peers' median +11%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| MGX Metagenomi Therapeutics | Q1 2026 | $1.2M | -70% | n/m |
| AMGN Amgen | Q3 2026 | $10.4B | +8% | 35.8% |
| GILD Gilead Sciences | Q3 2026 | $8.3B | +7% | 41.7% |
| BIIB Biogen | Q3 2026 | $2.8B | +11% | -0.3% |
| MRNA Moderna | Q3 2026 | $1.3B | +29% | 9.9% |
| NBIX Neurocrine Biosciences | Q3 2026 | $1.1B | +41% | 29.5% |
| EXEL Exelixis | Q3 2026 | $659M | +10% | 40.8% |
| HALO Halozyme Therapeutics | Q3 2026 | $493M | +39% | 59.8% |
| MGTX MeiraGTx Holdings | Q2 2026 | $321M | 87× | 76.0% |
Source: Metagenomi Therapeutics 10-Q on SEC EDGAR · CIK 1785279 · Biological Products, (No Diagnostic Substances)
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History
Every quarter: Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results