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Entrada Therapeutics (TRDA) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Entrada Therapeutics (TRDA) Q3 2026 earnings results →

Q3 2026 Revenue down 44% year over year to $905K

Entrada Therapeutics made $905K in Q3 2026 (-44% Y/Y). Operating margin n/m, net loss $39.7M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.

Revenue$905K
Year over year-44%
Operating marginn/m
Net earnings−$39.7M
Operating cash flow−$30.0M

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 $905K in Q3 2026, down 44% year over year and up 1% from the previous quarter.

Operating costs exceeded revenue by $41.7M, an operating margin of -4606.5%. Total costs fell 12% while revenue fell 44%. The quarter ended with a net loss of $39.7M, narrower than the previous quarter's $42.8M loss.

Operating cash flow was −$30.0M. Non-cash charges added back $700K of depreciation and $4.8M of share-based compensation. Working capital and other items added $4.3M. Capital expenditures of $161K exceeded it, leaving free cash flow of −$30.1M.

Quarterly history

Entrada Therapeutics revenue by quarterEntrada Therapeutics revenue by quarter$20.6MQ1 2025$1.9MQ2 2025$1.6MQ3 2025$1.3MQ4 2025$875KQ1 2026$898KQ2 2026$905KQ3 2026
Entrada Therapeutics net earnings by quarterEntrada Therapeutics net earnings by quarter−$17.3MQ1 2025−$43.1MQ2 2025−$44.1MQ3 2025−$39.2MQ4 2025−$39.7MQ1 2026−$42.8MQ2 2026−$39.7MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 5, 2026$905K-44%n/m−$39.7M−$30.0M
Q2 202610-QAug 5, 2026$898K-54%n/m−$42.8M−$32.5M
Q1 202610-QMay 7, 2026$875K-96%n/m−$39.7M−$41.7M
Q4 202510-KFeb 26, 2026$1.3M-96%n/m−$39.2M−$32.2M
Q3 202510-QNov 6, 2025$1.6M-92%n/m−$44.1M−$28.3M
Q2 202510-QAug 6, 2025$1.9M-98%n/m−$43.1M−$29.5M
Q1 202510-QMay 8, 2025$20.6M-65%-106.0%−$17.3M−$38.5M

Charts

Entrada Therapeutics: revenue growth, year over year and quarter over quarterEntrada Therapeutics: revenue growth, year over year and quarter over quarterY/YQ/Q-65%Q1 2025-98%-91%Q2 2025-92%-17%Q3 2025-96%-20%Q4 2025-96%-33%Q1 2026-54%+3%Q2 2026-44%+1%Q3 2026
Latest (Q3 2026): Y/Y -44%, Q/Q +1%.
Entrada Therapeutics: where the cash came from (+) and went (−), TTM to Q3 2026Entrada Therapeutics: where the cash came from (+) and went (−), TTM to Q3 2026Other investing$154MOperating cash flow−$136MCash drawn (+) / kept (−)−$18.3MOther financing$465KShares issued$177KCapital spending−$9K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Entrada Therapeutics: profit against cash, quarter by quarterEntrada Therapeutics: profit against cash, quarter by quarterNet incomeOperating cash flow$1.1M−$31.6MQ4 2024−$17.3M−$38.5MQ1 2025−$43.1M−$29.5MQ2 2025−$44.1M−$28.3MQ3 2025−$39.2M−$32.2MQ4 2025−$39.7M−$41.7MQ1 2026−$42.8M−$32.5MQ2 2026−$39.7M−$30.0MQ3 2026
Latest (Q3 2026): Net income −$39.7M, Operating cash flow −$30.0M.
Entrada Therapeutics: diluted shares by fiscal year (split-adjusted)Entrada Therapeutics: diluted shares by fiscal year (split-adjusted)28MFY202031MFY202131MFY202233MFY202339MFY202441MFY2025
+49.7% since FY2020: more shares outstanding (issuance, stock pay); earlier years scaled for the 5-for-1 split before FY2022, 5-for-1 split before FY2021.
Entrada Therapeutics in its industry: growth against margin (225 companies, SIC 2834)Entrada Therapeutics 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.CTMXALMSPMHSACRSVTGNROIVKRROJAGXENSCKRSAABUSPRPHSTTKCPHITXMDGOVXNWBOBIOEUPBIRDOVIDSPRBXBIOPRTAMCRBARVNMNOVSLNIGCBIOALGVNDNTHCPMDSPRORFLCOYASCYXBFRGSXTPBTAIQHCWBSERYARWRNACRGBPAVTXCLNNNTHIHINDAAGHALTONCOCRVOSKVIBOLTBDPTLYELIBOPULMTRDA (-44%, -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

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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 Entrada Therapeutics

We are a clinical-stage biopharmaceutical company aiming to transform the lives of patients by e stablishing a new class of medicines that engage intracellular targets that have long been considered inaccessible . Through proprietary, versatile and modular approaches, we are advancing a robust development portfolio of genetic medicines for the potential treatment of neuromuscular and inherited retinal diseases, among others. In 2026, we expect to progress our ENTR-601-44 and ENTR-601-45 clinical trials, an EU filing for the ENTR-601-50 clinical trial, and regulatory submissions for ENTR-601-51. In addition, our VX-670 partnership with Vertex Pharmaceuticals Incorporated (“Vertex”) continues to progress, with dosing completion anticipated in mid-2026.

In its own words, from its 10-K, filed Feb 26, 2026.

Entrada Therapeutics against its Pharmaceutical Preparations peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -44% against the peers' median +7%.

CompanyQuarterRevenueY/YOp. margin
TRDA Entrada TherapeuticsQ3 2026$905K-44%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: Entrada Therapeutics 10-Q on SEC EDGAR · CIK 1689375 · Pharmaceutical Preparations

Guidance and outlook

Entrada Therapeutics: what its forward-looking statements are about (10-Q filed 2026-11-05)Entrada Therapeutics: what its forward-looking statements are about (10-Q filed 2026-11-05)Other18Costs8Demand6Products5Legal & regulation2Margins1Financing1
41 statements; tone +0.20 (−1 all cautious, +1 all confident); 10 hedged.
Entrada Therapeutics: outlook statements against the filing beforeEntrada Therapeutics: outlook statements against the filing beforeConfident12Cautious4

13F: who owns TRDA and who is buying

Largest holders of TRDA (13F)Largest holders of TRDA (13F)Baker Bros. Advisors LP$37.3M5AM Venture Management, LLC$29.9MMPM Asset Management LLC$25.4MBlackRock$19.0MVanguard Group$16.8MMerck$12.8MVanguard Capital Management LLC$9.3MMPM BioImpact LLC$9.2MTCG Crossover Management, LLC$7.8MWellington Management Group LLP$7.0M
Funds' net buying of TRDA by quarter (13F)Funds' net buying of TRDA by quarter (13F)−$6.9M2024-09−$7.5M2024-12−$3.9M2025-03−$3.9M2025-06−$7.7M2025-09$5.9M2025-12$9.2M2026-03$25.1M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on TRDA

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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