4D Molecular Therapeutics, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $85.2M | $37,000 | $20.7M | $3.1M | $18.0M |
| Research and development | $195.7M | $141.3M | $97.1M | $80.3M | $61.4M |
| Operating expenses | $244.8M | $187.9M | $133.6M | $113.2M | $89.4M |
| Operating income | -$159.5M | -$187.8M | -$112.9M | -$110.0M | -$71.3M |
| Income tax expense | $0 | $0 | $0 | $0 | $0 |
| Net income | -$140.1M | -$160.9M | -$100.8M | -$107.5M | -$71.3M |
| Balance Sheet | |||||
| Cash and equivalents | $60.2M | $149.3M | $249.1M | $52.4M | $153.0M |
| Current assets | $413.1M | $434.9M | $296.6M | $220.5M | $256.3M |
| Total assets | $566.7M | $560.4M | $339.9M | $261.8M | $353.5M |
| Current liabilities | $44.0M | $29.1M | $19.0M | $15.7M | $16.3M |
| Total liabilities | $61.0M | $49.8M | $32.1M | $30.5M | $34.4M |
| Stockholders' equity | $505.7M | $510.6M | $307.8M | $231.3M | $319.1M |
| Cash Flow Statement | |||||
| Cash from operations | -$109.1M | -$134.6M | -$75.8M | -$86.7M | -$69.1M |
| Depreciation and amortization | $5.2M | $4.8M | $4.4M | $2.4M | $1.5M |
| Stock-based compensation | $22.0M | $26.1M | $19.7M | $17.1M | $13.8M |
| Capital expenditure | $536,000 | $3.8M | $2.8M | $11.5M | $9.1M |
| Free cash flow | -$109.6M | -$138.4M | -$78.6M | -$98.2M | -$78.2M |
| Dividends paid | $0 | $0 | $0 | $0 | $0 |
| Impairments | $0 | $0 | $0 | $0 | $0 |
Shares outstanding 52.3M · Free float 74.7%
Annual filing data through FY ended December 31, 2025; float as of July 14, 2026.