RAPP · Rapport Therapeutics, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | - | - | - | - | - | - | - |
| Cost of Revenue | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - |
| R&D | $32.72M | - | $22.28M | $22.68M | $12.50M | - | $7.58M | $15.69M |
| SG&A | $7.54M | - | $7.71M | $6.82M | $4.59M | - | $1.98M | $5.11M |
| Total Operating Expenses | $44.22M | - | $29.99M | $29.50M | $17.09M | - | $21.64M | $6.63M |
| D&A | $227.0K | - | - | - | $152.0K | - | $200.0K | $200.0K |
| Operating Income | ($24.21M) | - | ($29.99M) | ($29.50M) | ($17.09M) | - | ($21.64M) | ($20.80M) |
| Interest Expense | - | - | - | - | - | - | - | - |
| Income Tax | - | - | - | - | - | - | $1.0K | $2.0K |
| Net Income | ($19.86M) | - | ($26.93M) | ($26.73M) | ($24.06M) | - | ($8.71M) | ($6.41M) |
| EPS - Basic | ($0.42) | - | ($0.71) | ($0.75) | ($11.07) | - | ($0.50) | ($1.70) |
| EPS - Diluted | ($0.42) | - | ($0.71) | ($0.75) | ($11.07) | - | ($0.50) | ($4.45) |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $78.06M | $52.65M | $251.36M | $55.07M | $57.60M | $56.80M | $159.41M | $110.16M |
| Accounts Receivable | $0 | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - |
| Accounts Payable | $6.56M | $4.19M | $3.23M | $3.18M | $2.14M | $1.95M | $1.32M | $2.50M |
| Current Assets | $484.69M | $498.56M | $520.66M | $270.24M | $290.97M | $309.80M | $325.94M | $340.67M |
| Total Assets | $497.60M | $512.43M | $535.32M | $285.50M | $302.05M | $314.93M | $331.14M | $155.42M |
| Current Liabilities | $17.90M | $19.05M | $14.32M | $11.88M | $9.38M | $8.77M | $7.10M | $8.80M |
| Long-term Debt | - | - | - | - | - | - | - | - |
| Total Liabilities | $26.09M | $27.78M | $23.71M | $21.98M | $16.22M | $9.51M | $8.03M | $9.21M |
| Stockholders' Equity | $471.51M | $484.65M | $511.62M | $263.51M | $285.84M | $305.43M | ($13.12M) | ($9.43M) |
| Retained Earnings | ($255.09M) | ($235.23M) | ($201.47M) | ($174.54M) | ($147.81M) | ($123.75M) | ($103.77M) | ($86.23M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($13.06M) | - | - | - | ($17.61M) | - | - | - |
| Investing Cash Flow | $37.94M | - | - | - | ($41.93M) | - | - | - |
| Financing Cash Flow | $531.0K | - | - | - | $63.66M | - | - | - |
| CapEx | $86.0K | - | - | - | $1.07M | - | - | - |
| Free Cash Flow | ($13.15M) | - | - | - | ($18.69M) | - | - | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 |
|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||
| Gross margin | - | - | - | - | - | - | - | - |
| Operating margin | - | - | - | - | - | - | - | - |
| EBITDA margin | - | - | - | - | - | - | - | - |
| Net margin | - | - | - | - | - | - | - | - |
| Free cash flow margin | - | - | - | - | - | - | - | - |
| FCF / Net income | 0.66 | - | - | - | 0.78 | - | - | - |
| R&D / Revenue | - | - | - | - | - | - | - | - |
| SG&A / Revenue | - | - | - | - | - | - | - | - |
| Effective tax rate | - | - | - | - | - | - | - | - |
| Return on assets | -4.0% | - | -5.0% | -9.4% | -8.0% | - | -2.6% | -4.1% |
| Return on equity | -4.2% | - | -5.3% | -10.1% | -8.4% | - | 66.4% | 68.0% |
| Return on invested capital | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||
| Current ratio | 27.08 | 26.17 | 36.37 | 22.75 | 31.01 | 35.34 | 45.91 | 38.70 |
| Quick ratio | 27.08 | 26.17 | 36.37 | 22.75 | 31.01 | 35.34 | 45.91 | 38.70 |
| Cash ratio | 4.36 | 2.76 | 17.56 | 4.64 | 6.14 | 6.48 | 22.46 | 12.51 |
| Leverage | ||||||||
| Debt / Equity | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - |
| Equity multiplier | 1.06 | 1.06 | 1.05 | 1.08 | 1.06 | 1.03 | -25.25 | -16.48 |
| Liabilities / Assets | 0.05 | 0.05 | 0.04 | 0.08 | 0.05 | 0.03 | 0.02 | 0.06 |
| Efficiency | ||||||||
| Asset turnover | 0.00 | - | - | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - |
| Valuation | ||||||||
| P / E | - | - | - | - | - | - | - | - |
| P / B | 3.1x | - | 2.2x | 1.5x | 0.1x | - | - | - |
| P / S | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - |
| Growth | ||||||||
| Revenue growth (YoY) | - | - | - | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | -41.7% | - | -38.6% | -41.8% | - | - | - | - |
| Net income growth (YoY) | 17.5% | - | -209.2% | -317.0% | - | - | - | - |
| EPS growth (YoY) | 96.2% | - | -42.0% | 83.1% | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | 29.6% | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 65.0% | 58.7% | - | - | - | - | - | - |
Peer comparison
Same SIC group: Pharmaceutical Preparations
Comparing Rapport Therapeutics against the 5 most active filers in the same SIC group.