Filing Flows › Relay Therapeutics (RLAY) › Q4 2025
Relay Therapeutics (RLAY) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
Relay Therapeutics (RLAY) reported revenue of $7.0M for the fourth quarter 2025 (Q4 2025). Operating margin was -866.1%, net loss $54.9M (784.1% of revenue).
Relay Therapeutics, Q4 2025: revenue $7.0M, operating margin -866.1%, net loss $54.9M, operating cash flow −$44.9M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.0M | — | — |
| Operating profit | −$60.6M | — | — |
| Net earnings | −$54.9M | — | — |
| Operating cash flow | −$44.9M | — | — |
What changed
Revenue was $7.0M in Q4 2025.
Operating costs exceeded revenue by $60.6M, an operating margin of -866.1%. The quarter ended with a net loss of $54.9M.
Operating cash flow was −$44.9M. Non-cash charges added back $599K of depreciation and $13.1M of share-based compensation. Working capital and other items used $3.6M. Capital expenditures of $1K exceeded it, leaving free cash flow of −$44.9M.
Questions
What was Relay Therapeutics' revenue in the fourth quarter 2025?
Relay Therapeutics (RLAY) reported revenue of $7.0M for the fourth quarter 2025 (Q4 2025).
Was Relay Therapeutics profitable in the fourth quarter 2025?
Operating loss was $60.6M (-866.1% of revenue) and net loss $54.9M.
Source: Relay Therapeutics 10-K on SEC EDGAR.