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Praxis Precision Medicines (PRAX) earnings and revenue breakdown

Latest: Q4 2024 · 10-K filed Feb 28, 2025 · Praxis Precision Medicines (PRAX) Q4 2024 earnings results →

Q4 2024 Revenue up 1349% year over year to $7.5M · 786¢ of every $1 of revenue lost · operating margin -857.0%

Praxis Precision Medicines made $7.5M in Q4 2024 (14× Y/Y). Operating margin -857.0%, net loss $58.7M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-K filed Feb 28, 2025.

Revenue$7.5M
Year over year14×
Operating margin-857.0%
Net earnings−$58.7M
Operating cash flow−$56.1M

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 $7.5M in Q4 2024, up 1349% year over year and up 2371% from the previous quarter.

Operating costs exceeded revenue by $64.0M, an operating margin of -857.0%. Total costs grew 152% against revenue growth of 1349%. The fastest-growing cost line was Research & development (+206%). The quarter ended with a net loss of $58.7M, wider than the previous quarter's $51.9M loss.

Operating cash flow was −$56.1M. Non-cash charges added back $47K of depreciation and $8.6M of share-based compensation. Working capital and other items used $6.1M.

Quarterly history

QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q4 202410-KFeb 28, 2025$7.5M14×-857.0%−$58.7M−$56.1M

Charts

Praxis Precision Medicines: where the cash came from (+) and went (−), TTM to Q2 2026Praxis Precision Medicines: where the cash came from (+) and went (−), TTM to Q2 2026Shares issued$3.0BOther financing−$1.8BOther investing−$611MCash drawn (+) / kept (−)−$317MOperating cash flow−$305MTaxes on employees’ shares−$14.1MCapital spending−$307K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Praxis Precision Medicines: profit against cash, quarter by quarterPraxis Precision Medicines: profit against cash, quarter by quarterNet incomeOperating cash flow−$51.9M−$27.5MQ3 2024−$58.7M−$56.1MQ4 2024−$69.3M−$53.0MQ1 2025−$71.1M−$54.7MQ2 2025−$73.9M−$65.1MQ3 2025−$88.9M−$76.3MQ4 2025−$92.6M−$86.2MQ1 2026−$83.7M−$77.5MQ2 2026
Latest (Q2 2026): Net income −$83.7M, Operating cash flow −$77.5M.
Praxis Precision Medicines: diluted shares by fiscal year (split-adjusted)Praxis Precision Medicines: diluted shares by fiscal year (split-adjusted)215MFY2020255MFY202118MFY202220MFY202318MFY202423MFY2025
-89.5% since FY2020: buybacks shrank the count; earlier years scaled for the 3-for-1 split before FY2024, 2-for-1 split before FY2023, 4-for-1 split before FY2021.
Praxis Precision Medicines in its industry: growth against margin (225 companies, SIC 2834)Praxis Precision Medicines in its industry: growth against margin (225 companies, SIC 2834)revenue growth, year over year →↑ operating marginmedian +11%median -50%JNJLLYMRKABBVPFEBMYABTREGNTEVAVTRSVRTXBHCZTSONCOGNALNYELANJAZZBMRNPRGOAMRXUTHRRPRXNRIXINSMKeenova Therapeutics plcALKSMDGLPAHCSRPTPTCTINDVBBIOACADCORTPBHANIPKNSAPTGXHRMYIONSAXSMTGTXSUPNTVTXCOLLVREOFAMPHMIRMPCRXRARELQDAARQTIRWDARDXNATRXNCREBSZLABXERSINVACRMDMNKDRYTMURGNPHATAUPHSNDXRIGLLGNDEOLSARWRPGENHROWVNDAOPKSDGRGERNETONAGIOPBYITNGXCYRXCYTKMRVIORGONUVBLFVNSIGAKROSAMRNZVRASPRYHRTXAKBABCYCKPTIGYREMGNXELTPSEPNVRDNLFCRCrinetics Pharmaceuticals, Inc.VSTMKURATBPHLABADCTNAMSFBIOXLODERMARCTRMTIAYTUFHTXENTATNXPOCULASMBWVEAPMDBFRIABEOSTOKLXRXCAPRIDYANKTRZOMDFINBPJANXSBFMGOSSETSTRCUSCPIXLIFDCUEAQSTWHWKVERUEMMAGENBVRCACELUQUREZYMEEQABCLIMNMKYNBAKTSRNACVSICNTBTRAWISCOEVFMTVRDLPCNCAMPAtaiBeckley Inc.CTMXALMSPMHSACRSVTGNROIVKRROJAGXENSCKRSAABUSPRPHSTTKCPHITRDATXMDGOVXNWBOBIOEUPBIRDOVIDSPRBXBIOPRTAMCRBARVNMNOVSLNIGCBIOALGVNDNTHCPMDSPRORFLCOYASCYXBFRGSXTPBTAIQHCWBSERYARWRNACRGBPAVTXCLNNNTHIHINDAAGHALTONCOCRVOSKVIBOLTBDPTLYELIBOPULMPRAX (+300%, -100%)
Pharmaceutical Preparations; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵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 Praxis Precision Medicines

We are a clinical-stage biopharmaceutical company translating insights from genetic epilepsies into the development of therapies for central nervous system, or CNS, disorders characterized by neuronal excitation-inhibition imbalance. Normal brain function requires a delicate balance of excitation and inhibition in neuronal circuits, which, when dysregulated, can lead to abnormal function and both rare and more prevalent neurological disorders. We are applying genetic insights to the discovery and development of therapies for neurological disorders through two proprietary platforms, using our understanding of shared biological targets and circuits in the brain. Each platform currently has multiple programs, with significant potential for additional program and indication expansion:

In its own words, from its 10-K, filed Feb 28, 2025.

Praxis Precision Medicines against its Pharmaceutical Preparations peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: 14× against the peers' median +10%. Operating margin: -857.0% against the peers' median 20.4%.

CompanyQuarterRevenueY/YOp. margin
PRAX Praxis Precision MedicinesQ4 2024$7.5M14×-857.0%
JNJ Johnson & JohnsonQ3 2026$25.4B+6%0.1%
LLY ELI LillyQ3 2026$24.4B+39%34.5%
MRK MerckQ3 2026$18.1B+5%30.7%
ABBV AbbVieQ3 2026$17.4B+10%36.0%
PFE PfizerQ3 2026$16.6B-0.4%20.4%
BMY Bristol Myers SquibbQ3 2026$13.1B+7%19.4%
ABT Abbott LaboratoriesQ3 2026$13.0B+14%10.4%
REGN Regeneron PharmaceuticalsQ3 2026$5.1B+36%40.0%

Source: Praxis Precision Medicines 10-K on SEC EDGAR · CIK 1689548 · Pharmaceutical Preparations

13F: who owns PRAX and who is buying

Largest holders of PRAX (13F)Largest holders of PRAX (13F)Jupiter Topco LLC$1.1BJanus Henderson Group$1.1BFMR LLC$776MBlackRock$768MPerceptive Advisors LLC$682MBaker Bros. Advisors LP$587MOrbis Allan Gray$512MVanguard Portfolio Management LLC$447MVanguard Group$431MVanguard Capital Management LLC$414M
Funds' net buying of PRAX by quarter (13F)Funds' net buying of PRAX by quarter (13F)−$39.1M2024-09$133M2024-12$78.2M2025-03$32.4M2025-06$25.3M2025-09$1.4B2025-12$524M2026-03$551M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on PRAX

History

Every quarter: Q4 2024 results

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