Cogent Biosciences, Inc. (COGT) Income Statement
COGT 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsCOGT revenue and net income
COGT profit margins
COGT growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | — | — | — | — |
| Gross profit | — | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
COGT quarterly EPS vs estimates
Cogent Biosciences beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 6, 2026 (estimate $-0.57).
COGT income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $7.9M | $22.5M | $9.7M | $8.4M | $6.4M |
| Cost of revenue | $4.6M | $4.4M | $3.6M | $5.9M | $147,000 | $25.7M | $43,709 | $0 | $0 | $0 |
| Gross profit | −$4.6M | −$4.4M | −$3.6M | −$5.9M | −$147,000 | −$17.9M | $22.5M | $9.7M | $8.4M | $6.4M |
| Research & development | $269.8M | $232.7M | $173.8M | $121.6M | $55.9M | $72.6M | $43.7M | $38.3M | $29.8M | $22.0M |
| Sales, general & admin | $63.6M | $43.3M | $34.4M | $26.2M | $19.6M | $17.4M | $11.0M | $7.5M | $4.7M | $3.4M |
| Total operating expenses | $328.7M | $275.9M | $208.1M | $147.8M | $75.6M | $64.3M | $54.7M | $45.7M | $34.5M | $25.4M |
| Operating income | −$333.4M | −$275.9M | −$208.1M | −$147.8M | −$75.6M | −$82.2M | −$32.2M | −$36.0M | −$26.2M | −$19.1M |
| Interest income | $14.7M | $18.1M | $11.3M | $4.0M | $467,000 | $144,000 | $267,000 | $1.2M | $386,000 | $265,000 |
| Interest expense | $3.1M | $0 | $0 | $4.0M | $3.1M | $144,000 | $0 | $0 | $0 | $0 |
| Income before taxes | −$328.9M | −$255.9M | −$192.4M | −$140.2M | −$72.3M | −$74.8M | −$31.8M | −$34.5M | −$25.5M | −$18.1M |
| Income taxes | — | — | — | −$7.6M | −$467,000 | −$8.4M | −$1.6M | $1.5M | −$386,000 | −$265,000 |
| Net income | −$328.9M | −$255.9M | −$192.4M | −$132.6M | −$72.3M | −$74.8M | −$30.3M | −$34.5M | −$25.5M | −$18.1M |
| EBITDA | −$321.3M | −$251.5M | −$188.8M | −$142.0M | −$70.3M | −$34.6M | −$30.9M | −$34.7M | −$25.0M | −$18.2M |
| EPS (diluted) | −$2.11 | −$1.94 | −$2.43 | −$2.45 | −$1.85 | −$8.84 | −$4.20 | −$4.42 | −$1.22 | −$1.43 |
| Gross margin | — | — | — | — | — | −227.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating margin | — | — | — | — | — | −1,044.3% | −143.0% | −369.9% | −312.8% | −300.1% |
| Net margin | — | — | — | — | — | −950.4% | −134.6% | −354.8% | −304.9% | −285.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $4.3M | $0 | $0 | $0 | $5.6M | $0 |
| Cost of revenue | — | $1.2M | $1.2M | — | $1.2M | $1.1M | $2.1M | $1.1M | $1.1M | $1.1M | $794,000 | $855,000 |
| Gross profit | — | −$1.2M | −$1.2M | — | −$1.2M | −$1.1M | $2.1M | −$1.1M | −$1.1M | −$1.1M | $4.8M | −$855,000 |
| Research & development | $70.8M | $75.4M | $74.4M | $69.0M | $61.0M | $63.0M | $62.0M | $63.6M | $54.3M | $52.7M | $48.7M | $50.1M |
| Sales, general & admin | $31.8M | $28.2M | $23.9M | $14.4M | $13.4M | $11.9M | $11.7M | $11.8M | $10.1M | $9.7M | $9.5M | $9.5M |
| Total operating expenses | $102.6M | $102.5M | $98.3M | $83.4M | $74.4M | $74.9M | $73.7M | $75.4M | $64.4M | $62.4M | $58.2M | $59.6M |
| Operating income | −$102.6M | −$103.6M | −$99.5M | −$83.4M | −$75.6M | −$74.9M | −$73.7M | −$75.4M | −$64.4M | −$62.4M | −$58.2M | −$59.6M |
| Interest income | $7.5M | $7.6M | $5.5M | $3.9M | $2.4M | $3.0M | $3.9M | $4.8M | $5.4M | $4.1M | $3.9M | $4.2M |
| Interest expense | $1.2M | $1.2M | $1.3M | $1.5M | $314,000 | $0 | — | $0 | $0 | — | $4.7M | — |
| Income before taxes | −$96.4M | −$97.4M | −$102.5M | −$80.9M | −$73.5M | −$72.0M | −$67.9M | −$70.6M | −$59.0M | −$58.3M | −$54.4M | −$55.4M |
| Income taxes | — | — | — | — | — | — | — | — | — | −$4.1M | −$3.9M | −$855,000 |
| Net income | −$96.4M | −$97.4M | −$102.5M | −$80.9M | −$73.5M | −$72.0M | −$67.9M | −$70.6M | −$59.0M | −$58.3M | −$54.4M | −$55.4M |
| EBITDA | −$94.4M | −$95.0M | −$104.6M | −$78.3M | −$72.1M | −$70.8M | −$66.8M | −$69.5M | −$57.9M | −$57.3M | −$53.6M | −$54.5M |
| EPS (diluted) | −$0.52 | −$0.53 | −$0.56 | −$0.50 | −$0.53 | −$0.52 | −$0.09 | −$0.64 | −$0.59 | −$0.62 | −$0.63 | −$0.64 |
| Gross margin | — | — | — | — | — | — | 50.0% | — | — | — | 85.8% | — |
| Operating margin | — | — | — | — | — | — | −1,717.9% | — | — | — | −1,042.0% | — |
| Net margin | — | — | — | — | — | — | −1,582.6% | — | — | — | −972.9% | — |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in COGT's financial statements (latest annual report filed February 17, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
COGT financial results
Cogent Biosciences reported no revenue in fiscal year 2025 (ended December 31, 2025). It had a net loss of $328.9 million. Diluted earnings per share came to −$2.11.
See the COGT stock overview for the latest quote and news, or the COGT chart for price history and technical indicators.
COGT income statement FAQ
Does Cogent Biosciences have revenue?
Cogent Biosciences reported no revenue for fiscal year 2025, which ended on December 31, 2025.
Is Cogent Biosciences profitable?
No. Cogent Biosciences reported a net loss of $328.9 million in fiscal 2025.
How much does Cogent Biosciences spend on research and development?
Cogent Biosciences spent $269.8 million on research and development in fiscal 2025.
What are Cogent Biosciences's earnings per share?
Cogent Biosciences earned $-2.11 per diluted share in fiscal 2025, compared with $-1.94 a year earlier.
When will Cogent Biosciences report its next earnings?
Cogent Biosciences is expected to report results for the quarter ending September 30, 2026 on November 6, 2026.
When does Cogent Biosciences's fiscal year end?
Cogent Biosciences's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 17, 2026.