Filing Flows

Filing Flows › Health Care › Rafael Holdings (RFL)

Rafael Holdings (RFL) earnings and revenue breakdown

Latest: Q4 FY26 · 10-K filed Oct 29, 2026 · Rafael Holdings (RFL) Q4 FY26 earnings results →

Q4 FY26 Revenue down 30% year over year to $244K

Rafael Holdings made $244K in Q4 FY26 (-30% Y/Y): Product Revenue $151K, Rental – Third Party $63K, Rental – Related Party $30K. Operating margin n/m, net loss $8.9M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-K filed Oct 29, 2026.

Revenue$244K
Year over year-30%
Operating marginn/m
Net earnings−$8.9M
Operating cash flow−$8.4M

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 $244K in Q4 FY26, down 30% year over year and up 36% from the previous quarter. Product Revenue was the largest line at 62% of revenue.

Operating costs exceeded revenue by $9.7M, an operating margin of -3988.1%. Total costs fell 24% while revenue fell 30%. The quarter ended with a net loss of $8.9M, wider than the previous quarter's $2.9M loss.

Operating cash flow was −$8.4M. Non-cash charges added back $51K of depreciation and amortization and $231K of share-based compensation. Capital expenditures of −$2K exceeded it, leaving free cash flow of −$8.4M.

Quarterly history

Rafael Holdings revenue by quarterRafael Holdings revenue by quarter$77KQ2 FY25$362KQ3 FY25$350KQ4 FY25$240KQ1 FY26$211KQ2 FY26$179KQ3 FY26$244KQ4 FY26
Rafael Holdings net earnings by quarterRafael Holdings net earnings by quarter−$5.3MQ2 FY25−$4.1MQ3 FY25−$12.1MQ4 FY25−$9.8MQ1 FY26−$6.3MQ2 FY26−$2.9MQ3 FY26−$8.9MQ4 FY26
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q4 FY2610-KOct 29, 2026$244K-30%n/m−$8.9M−$8.4M
Q3 FY2610-QJun 11, 2026$179K-51%n/m−$2.9M−$7.3M
Q2 FY2610-QMar 16, 2026$211K+174%n/m−$6.3M−$7.5M
Q1 FY2610-QDec 12, 2025$240K+88%n/m−$9.8M−$6.8M
Q4 FY2510-KOct 29, 2025$350K+112%n/m−$12.1M−$10.4M
Q3 FY2510-QJun 11, 2025$362K+8%n/m−$4.1M−$3.2M
Q2 FY2510-QMar 14, 2025$77K+13%n/m−$5.3M−$2.3M

Charts

Rafael Holdings: revenue growth, year over year and quarter over quarterRafael Holdings: revenue growth, year over year and quarter over quarterY/YQ/Q+13%Q2 FY25+8%+370%Q3 FY25+112%-3%Q4 FY25+88%-31%Q1 FY26+174%-12%Q2 FY26-51%-15%Q3 FY26-30%+36%Q4 FY26
Latest (Q4 FY26): Y/Y -30%, Q/Q +36%.
Rafael Holdings: where the cash came from (+) and went (−), FY26Rafael Holdings: where the cash came from (+) and went (−), FY26Cash drawn (+) / kept (−)$30.7MOperating cash flow−$30.0MOther investing−$750KTaxes on employees’ shares−$105KExchange rates$84KAsset & business sales$77KOther financing−$11KCapital spending−$3K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Rafael Holdings: profit against cash, quarter by quarterRafael Holdings: profit against cash, quarter by quarterNet incomeOperating cash flow−$9.2M−$3.0MQ1 FY25−$5.3M−$2.3MQ2 FY25−$4.1M−$3.2MQ3 FY25−$12.1M−$10.4MQ4 FY25−$9.8M−$6.8MQ1 FY26−$6.3M−$7.5MQ2 FY26−$2.9M−$7.3MQ3 FY26−$8.9M−$8.4MQ4 FY26
Latest (Q4 FY26): Net income −$8.9M, Operating cash flow −$8.4M.
Rafael Holdings: diluted shares by fiscal yearRafael Holdings: diluted shares by fiscal year17MFY2120MFY2223MFY2324MFY2429MFY2551MFY26
+211.0% since FY21: more shares outstanding (issuance, stock pay).
Rafael Holdings in its industry: growth against margin (225 companies, SIC 2834)Rafael Holdings 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.VSTMKURATBPHLABADCTNAMSFBIOXLODERMARCTRMTIAYTUFHTXENTATNXPOCULASMBWVEAPMDBFRIABEOSTOKLXRXCAPRIDYANKTRZOMDFINBPJANXSBFMGOSSETSTRCUSCPIXLIFDCUEAQSTPRAXWHWKVERUEMMAGENBVRCACELUQUREZYMEEQABCLIMNMKYNBAKTSRNACVSICNTBTRAWISCOEVFMTVRDLPCNCAMPAtaiBeckley Inc.CTMXALMSPMHSACRSVTGNROIVKRROJAGXENSCKRSAABUSPRPHSTTKCPHITRDATXMDGOVXNWBOBIOEUPBIRDOVIDSPRBXBIOPRTAMCRBARVNMNOVSLNIGCBIOALGVNDNTHCPMDSPROCOYASCYXBFRGSXTPBTAIQHCWBSERYARWRNACRGBPAVTXCLNNNTHIHINDAAGHALTONCOCRVOSKVIBOLTBDPTLYELIBOPULMRFL (-30%, -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

Loading the interactive chart…

🌏Named in Asian annual reportsinteractive

Loading the interactive chart…

🔄Rotation against the market and its industry (RRG)interactive

Loading the interactive chart…

🔍Earnings qualityinteractive

Loading the interactive chart…

⚖️Fair value by methodinteractive

Loading the interactive chart…

🔭Outlook & guidanceinteractive

Loading the interactive chart…

📈Investments: gains and what it boughtinteractive

Loading the interactive chart…

🏭Its industry’s money flow (input-output)interactive

Loading the interactive chart…

About Rafael Holdings

Rafael Holdings, Inc. (“Rafael Holdings”, “Rafael”, “we” or the “Company”) is a biotechnology company that develops pharmaceuticals and holds interests in clinical and early-stage companies that develop pharmaceuticals and medical devices. Our lead candidate is Trappsol® Cyclo™ (remibetadex), an investigational therapy for the potential treatment of Niemann-Pick Disease Type C (“NPC”), a rare, fatal and progressive genetic disorder. We have completed the pivotal Phase 3 clinical trial of Trappsol® Cyclo™ and on October 28, 2026 submitted a New Drug Application to the U.S. Food and Drug Administration. We also hold: (i) a majority equity interest in LipoMedix Pharmaceuticals Ltd. (“LipoMedix”), a clinical stage pharmaceutical company; (ii) Barer Institute Inc.

In its own words, from its 10-K, filed Oct 29, 2026.

Rafael Holdings against its Pharmaceutical Preparations peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -30% against the peers' median +7%.

CompanyQuarterRevenueY/YOp. margin
RFL Rafael HoldingsQ4 FY26$244K-30%n/m
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: Rafael Holdings 10-K on SEC EDGAR · CIK 1713863 · Pharmaceutical Preparations

Guidance and outlook

Rafael Holdings: what its forward-looking statements are about (10-K filed 2026-10-29)Rafael Holdings: what its forward-looking statements are about (10-K filed 2026-10-29)Other4Costs1Margins1Buybacks & dividends1Demand1
8 statements; tone -0.25 (−1 all cautious, +1 all confident); 2 hedged.
Rafael Holdings: outlook statements against the filing beforeRafael Holdings: outlook statements against the filing beforeCautious2

13F: who owns RFL and who is buying

Largest holders of RFL (13F)Largest holders of RFL (13F)Vanguard Capital Management LLC$4.5MVanguard Group$1.8MGeode Capital Management, LLC$1.4MBlackRock$1.3MDimensional Fund Advisors LP$915KVanguard Fiduciary Trust$677KIEQ Capital, LLC$541KState Street$516KJane Street Group, LLC$370KWells Fargo$340K
Funds' net buying of RFL by quarter (13F)Funds' net buying of RFL by quarter (13F)−$155K2024-09−$461K2024-12$1.5M2025-03$920K2025-06$430K2025-09$33K2025-12−$237K2026-03$981K2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on RFL

History

Every quarter: Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results

Compare RFL with

中文版：Rafael Holdings（RFL）财报

Español · Français