Filing Flows › Voyager Therapeutics (VYGR) › Q4 2025
Voyager Therapeutics (VYGR) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 9, 2026
Voyager Therapeutics (VYGR) reported revenue of $15.3M for the fourth quarter 2025 (Q4 2025), +144% from a year earlier and +15% from the quarter before. Operating margin was -195.2%, net loss $27.4M (178.8% of revenue).
Voyager Therapeutics, Q4 2025: revenue $15.3M (+144% year over year), operating margin -195.2%, net loss $27.4M, operating cash flow −$30.3M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $15.3M | +15% | +144% |
| Operating profit | −$29.9M | — | — |
| Net earnings | −$27.4M | — | — |
| Operating cash flow | −$30.3M | — | — |
What changed
Revenue was $15.3M in Q4 2025, up 144% year over year and up 15% from the previous quarter.
Operating costs exceeded revenue by $29.9M, an operating margin of -195.2%. Total costs grew 2% against revenue growth of 144%. The quarter ended with a net loss of $27.4M, narrower than the previous quarter's $27.9M loss.
Operating cash flow was −$30.3M. Non-cash charges added back $1.0M of depreciation and $3.5M of share-based compensation. Working capital and other items used $7.4M. Capital expenditures of $626K exceeded it, leaving free cash flow of −$30.9M.
Questions
What was Voyager Therapeutics' revenue in the fourth quarter 2025?
Voyager Therapeutics (VYGR) reported revenue of $15.3M for the fourth quarter 2025 (Q4 2025), +144% from a year earlier and +15% from the quarter before.
Was Voyager Therapeutics profitable in the fourth quarter 2025?
Operating loss was $29.9M (-195.2% of revenue) and net loss $27.4M.