Filing Flows › Metagenomi Therapeutics (MGX) › Q3 2025
Metagenomi Therapeutics (MGX) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 12, 2025
Metagenomi Therapeutics (MGX) reported revenue of $8.7M for the third quarter 2025 (Q3 2025), -25% from a year earlier and +2% from the quarter before. Operating margin was -263.8%, net loss $20.4M (235.5% of revenue).
Metagenomi Therapeutics, Q3 2025: revenue $8.7M (-25% year over year), operating margin -263.8%, net loss $20.4M, operating cash flow −$21.3M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $8.7M | +2% | -25% |
| Operating profit | −$22.8M | — | — |
| Net earnings | −$20.4M | — | — |
| Operating cash flow | −$21.3M | — | — |
What changed
Revenue was $8.7M in Q3 2025, down 25% year over year and up 2% from the previous quarter.
Operating costs exceeded revenue by $22.8M, an operating margin of -263.8%. Total costs fell 7% while revenue fell 25%. The quarter ended with a net loss of $20.4M, wider than the previous quarter's $19.9M loss.
Operating cash flow was −$21.3M. Non-cash charges added back $1.3M of depreciation and $3.0M of share-based compensation. Working capital and other items used $5.2M. Capital expenditures of $74K exceeded it, leaving free cash flow of −$21.3M.
Questions
What was Metagenomi Therapeutics' revenue in the third quarter 2025?
Metagenomi Therapeutics (MGX) reported revenue of $8.7M for the third quarter 2025 (Q3 2025), -25% from a year earlier and +2% from the quarter before.
Was Metagenomi Therapeutics profitable in the third quarter 2025?
Operating loss was $22.8M (-263.8% of revenue) and net loss $20.4M.