Filing Flows › Cartesian Therapeutics (RNAC) › Q3 2025
Cartesian Therapeutics (RNAC) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Cartesian Therapeutics (RNAC) reported revenue of $452K for the third quarter 2025 (Q3 2025), +17% from a year earlier and +52% from the quarter before.
Cartesian Therapeutics, Q3 2025: revenue $452K (+17% year over year), net loss $35.9M, operating cash flow −$15.6M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $452K | +52% | +17% |
| Operating profit | −$21.1M | — | — |
| Net earnings | −$35.9M | -326% | — |
| Operating cash flow | −$15.6M | — | — |
What changed
Revenue was $452K in Q3 2025, up 17% year over year and up 52% from the previous quarter.
Operating costs exceeded revenue by $21.1M, an operating margin of -4660.6%. Total costs grew 20% against revenue growth of 17%. The fastest-growing cost line was Research & development (+21%). The quarter ended with a net loss of $35.9M, after a profit of $15.9M the previous quarter.
Operating cash flow was −$15.6M. Non-cash charges added back $600K of depreciation and $2.6M of share-based compensation. Working capital and other items added $17.1M. Capital expenditures of $1.3M exceeded it, leaving free cash flow of −$16.9M.
Questions
What was Cartesian Therapeutics' revenue in the third quarter 2025?
Cartesian Therapeutics (RNAC) reported revenue of $452K for the third quarter 2025 (Q3 2025), +17% from a year earlier and +52% from the quarter before.