Filing Flows › Rapport Therapeutics (RAPP) › Q1 2026
Rapport Therapeutics (RAPP) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Rapport Therapeutics (RAPP) reported revenue of $20.0M for the first quarter 2026 (Q1 2026). Operating margin was -121.1%, net loss $19.9M (99.3% of revenue).
Rapport Therapeutics, Q1 2026: revenue $20.0M, operating margin -121.1%, net loss $19.9M, operating cash flow −$13.1M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $20.0M | — | — |
| Operating profit | −$24.2M | — | — |
| Net earnings | −$19.9M | — | — |
| Operating cash flow | −$13.1M | — | — |
What changed
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.
Questions
What was Rapport Therapeutics' revenue in the first quarter 2026?
Rapport Therapeutics (RAPP) reported revenue of $20.0M for the first quarter 2026 (Q1 2026).
Was Rapport Therapeutics profitable in the first quarter 2026?
Operating loss was $24.2M (-121.1% of revenue) and net loss $19.9M.