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RVMD

Revolution Medicines, Inc.

RVMD

Revolution Medicines, Inc. • NASDAQ
$77.76 ▲ 0.23% (+0.18)
Market Cap $15.03 B
52w High $78.17
52w Low $29.17
Dividend Yield 0%
P/E -14.98
Volume 850.03K
Outstanding Shares 193.32M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $315.269M ▲ $-305.206M ▼ 0% $-1.61 ▼ $-302.376M ▼
Q2-2025 $0 $264.714M ▲ $-247.787M ▼ 0% $-1.31 ▼ $-260.912M ▼
Q1-2025 $0 $35.011M ▲ $-213.416M ▼ 0% $-1.13 ▲ $-237.044M ▼
Q4-2024 $0 $28.214M ▲ $-194.569M ▼ 0% $-1.13 ▼ $-212.923M ▼
Q3-2024 $0 $23.96M $-156.288M 0% $-0.94 $-172.835M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.932B ▼ $2.252B ▼ $655.016M ▲ $1.597B ▼
Q2-2025 $2.137B ▲ $2.43B ▲ $564.199M ▲ $1.865B ▼
Q1-2025 $2.103B ▼ $2.365B ▼ $287.203M ▼ $2.078B ▼
Q4-2024 $2.289B ▲ $2.558B ▲ $293.097M ▲ $2.265B ▲
Q3-2024 $1.549B $1.763B $196.695M $1.566B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-305.206M ▼ $-207.311M ▲ $24.849M ▼ $-1.592M ▼ $-184.054M ▼ $-210.66M ▲
Q2-2025 $-247.787M ▼ $-221.757M ▼ $34.276M ▲ $256.583M ▲ $69.102M ▲ $-229.207M ▼
Q1-2025 $-213.416M ▼ $-194.435M ▼ $-15.949M ▲ $874K ▼ $-209.51M ▼ $-197.701M ▼
Q4-2024 $-194.569M ▼ $-138.29M ▼ $-392.903M ▼ $873.805M ▲ $341.802M ▲ $-139.512M ▼
Q3-2024 $-156.288M $-130.419M $-21.469M $77.294M $-74.594M $-133.939M

Revenue by Products

Product Q2-2022Q3-2022Q4-2022Q1-2023
Collaboration Revenue Member
Collaboration Revenue Member
 $10.00M ▲$0 ▼$20.00M ▲$10.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Revolution Medicines is still very much a research-focused company, not a commercial one. Revenue is essentially non‑existent, and has stayed that way for several years, so there is no operating business to fund the company yet. Expenses have risen steadily as clinical programs ramp up, leading to sizable operating losses and net losses every year. Losses have widened over time as the pipeline has grown and trials have moved into more expensive stages. This pattern is typical for a clinical‑stage biotech, but it means the company’s financial results are driven almost entirely by research spending, not by product sales.

Balance Sheet

Balance Sheet The balance sheet shows a sizeable asset base for a company without products, with most of the value sitting in cash and investments raised from equity financing. Shareholders’ equity has increased over time, indicating repeated capital raises rather than retained profits. Debt remains modest relative to total assets and equity, which reduces financial strain from interest payments. Overall, the company appears well‑capitalized for a clinical‑stage biotech, but its asset base is largely financial rather than operational at this point, and it remains dependent on external funding until any drugs are approved and commercialized.

Cash Flow

Cash Flow Cash flow is clearly negative from operations, reflecting the heavy cost of running multiple clinical trials and a growing R&D organization without offsetting revenue. Free cash flow is similarly negative, and has become more negative as the company has scaled its development efforts. Capital spending on equipment and facilities is relatively small compared with R&D, so the main cash drain is ongoing operating activity rather than big one‑time investments. This all points to a classic “cash burn” profile: the company will likely need to keep using its existing cash reserves and external financing to support operations until it can generate meaningful product revenue, which is still some years away and highly uncertain.

Competitive Edge

Competitive Edge Scientifically, Revolution Medicines occupies an attractive niche: it focuses on the active form of RAS, a notoriously difficult cancer target that many competitors historically approached differently. Its tri‑complex, or “molecular glue,” platform gives it a differentiated mechanism that may work in cancers resistant to older approaches and may apply across many RAS mutations and tumor types. The pipeline already spans several key RAS mutations in high‑need cancers like pancreatic and lung, and early clinical data appear encouraging. However, the competitive landscape in RAS‑targeted oncology is intense, with major pharmaceutical companies also investing heavily, and ultimate success will hinge on showing clear, durable clinical benefits and manageable safety in larger trials.

Innovation and R&D

Innovation and R&D Innovation and R&D are the clear strengths of this company. It has built a sophisticated discovery engine around its tri‑complex RAS(ON) platform and is translating that into a broad, mutation‑specific portfolio. Multiple drug candidates are already in human trials, including one moving toward pivotal Phase 3 studies and others targeting difficult, common mutations such as KRAS G12C and G12D. The company is expanding into next‑generation inhibitors aimed at additional RAS variants and is also exploring combination regimens with immunotherapies and other targeted agents, which could deepen clinical impact if results hold up. This R&D ambition comes with high cost and risk: every program faces clinical and regulatory uncertainty, and setbacks in key trials could materially change the company’s outlook.

Summary

Revolution Medicines is a classic high‑risk, high‑uncertainty clinical‑stage biotech: almost no revenue today, substantial and growing losses, and a business model entirely built around the future success of its drug pipeline. On the positive side, it has a strong cash cushion, low reliance on debt, and a clearly differentiated scientific platform targeting a very important cancer pathway. The breadth of its RAS(ON) pipeline and the move into late‑stage trials create meaningful potential, but also increase execution risk and cash needs. Future results will depend heavily on clinical trial outcomes, regulatory interactions, and the company’s ability to maintain funding and partnerships, rather than on current financial performance, which mainly reflects its investment in innovation rather than an operating business.

NEWS

November 5, 2025 · 4:02 PM UTC

Revolution Medicines Reports Third Quarter 2025 Financial Results and Update on Corporate Progress

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November 4, 2025 · 4:05 PM UTC

Revolution Medicines to Participate in November 2025 Investor Conferences

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October 29, 2025 · 4:05 PM UTC

Revolution Medicines to Report Financial Results for Third Quarter 2025 After Market Close on November 5, 2025

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October 27, 2025 · 8:00 AM UTC

Revolution Medicines' RAS(ON) Multi-Selective Inhibitor Daraxonrasib Granted U.S. FDA Orphan Drug Designation in Pancreatic Cancer

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October 22, 2025 · 12:12 PM UTC

Revolution Medicines to Present Updated Elironrasib Safety and Efficacy Data in Patients with KRAS G12C Non-Small Cell Lung Cancer Following Treatment with a KRAS(OFF) G12C Inhibitor

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