Filing Flows › Metagenomi Therapeutics (MGX) › Q4 2025
Metagenomi Therapeutics (MGX) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 5, 2026
Metagenomi Therapeutics (MGX) reported revenue of $3.9M for the fourth quarter 2025 (Q4 2025), -59% from a year earlier and -55% from the quarter before. Operating margin was -623.0%, net loss $22.5M (576.0% of revenue).
Metagenomi Therapeutics, Q4 2025: revenue $3.9M (-59% year over year), operating margin -623.0%, net loss $22.5M, operating cash flow −$23.5M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.9M | -55% | -59% |
| Operating profit | −$24.4M | — | — |
| Net earnings | −$22.5M | — | — |
| Operating cash flow | −$23.5M | — | — |
What changed
Revenue was $3.9M in Q4 2025, down 59% year over year and down 55% from the previous quarter.
Operating costs exceeded revenue by $24.4M, an operating margin of -623.0%. Total costs fell 6% while revenue fell 59%. The quarter ended with a net loss of $22.5M, wider than the previous quarter's $20.4M loss.
Operating cash flow was −$23.5M. Non-cash charges added back $1.3M of depreciation and $2.7M of share-based compensation. Working capital and other items used $5.0M. Capital expenditures of $85K exceeded it, leaving free cash flow of −$23.6M.
Questions
What was Metagenomi Therapeutics' revenue in the fourth quarter 2025?
Metagenomi Therapeutics (MGX) reported revenue of $3.9M for the fourth quarter 2025 (Q4 2025), -59% from a year earlier and -55% from the quarter before.
Was Metagenomi Therapeutics profitable in the fourth quarter 2025?
Operating loss was $24.4M (-623.0% of revenue) and net loss $22.5M.