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Rapport Therapeutics (RAPP) earnings and revenue breakdown
Latest: Q1 2026 · 10-Q filed May 7, 2026 · Rapport Therapeutics (RAPP) Q1 2026 earnings results →
Q1 2026 99¢ of every $1 of revenue lost · operating margin -121.1%
Rapport Therapeutics made $20.0M in Q1 2026. Operating margin -121.1%, net loss $19.9M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed May 7, 2026.
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 $20.0M in Q1 2026.
Operating costs exceeded revenue by $24.2M, an operating margin of -121.1%. The quarter ended with a net loss of $19.9M. Non-operating items added $4.4M, -22% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$13.1M. Non-cash charges added back $227K of depreciation and amortization and $7.0M of share-based compensation. Capital expenditures of $86K exceeded it, leaving free cash flow of −$13.1M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q1 2026 | 10-Q | May 7, 2026 | $20.0M | — | -121.1% | −$19.9M | −$13.1M |
Charts
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 Rapport Therapeutics
Rapport Therapeutics is a clinical-stage biotechnology company dedicated to discovering and developing small molecule precision medicines for patients with neurological and psychiatric disorders. The Company’s founders made pioneering discoveries related to the function of receptor associated proteins (RAPs) in the brain, which form the basis of Rapport’s RAP technology platform. The platform enables a differentiated approach to generate precision small molecule product candidates with the potential to overcome many limitations of conventional neurology drug discovery. Rapport’s precision neuroscience pipeline includes the Company’s lead investigational drug, RAP-219, which is designed to achieve neuroanatomical specificity through selective targeting of a RAP expressed only in discrete regions of the brain.
In its own words, from its 8-K, filed Aug 5, 2026.
Rapport Therapeutics against its Pharmaceutical Preparations peers
The largest companies of the same SEC industry, each at its latest quarter. Operating margin: -121.1% against the peers' median 20.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| RAPP Rapport Therapeutics | Q1 2026 | $20.0M | — | -121.1% |
| JNJ Johnson & Johnson | Q3 2026 | $25.4B | +6% | 0.1% |
| LLY ELI Lilly | Q3 2026 | $24.4B | +39% | 34.5% |
| MRK Merck | Q3 2026 | $18.1B | +5% | 30.7% |
| ABBV AbbVie | Q3 2026 | $17.4B | +10% | 36.0% |
| PFE Pfizer | Q3 2026 | $16.6B | -0.4% | 20.4% |
| BMY Bristol Myers Squibb | Q3 2026 | $13.1B | +7% | 19.4% |
| ABT Abbott Laboratories | Q3 2026 | $13.0B | +14% | 10.4% |
| REGN Regeneron Pharmaceuticals | Q3 2026 | $5.1B | +36% | 40.0% |
Source: Rapport Therapeutics 10-Q on SEC EDGAR · CIK 2012593 · Pharmaceutical Preparations
13F: who owns RAPP and who is buying
More on RAPP
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History
Every quarter: Q1 2026 results