Foghorn Therapeutics Inc. (FHTX) Income Statement
FHTX 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsFHTX revenue and net income
Where FHTX's revenue goes
2025Each bar shows an amount and its share of revenue. FHTX kept −240.3% of revenue as net income.
FHTX profit margins
FHTX growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +36.8% | +17.1% | +135.1% | — |
| Gross profit | +22.0% | +12.8% | — | — |
| 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.
FHTX quarterly EPS vs estimates
Foghorn Therapeutics beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 4, 2026 (estimate $-0.23).
FHTX income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $30.9M | $22.6M | $34.2M | $19.2M | $1.3M | $430,000 | $0 | $0 |
| Cost of revenue | $3.3M | $3.1M | $109.7M | $19,228 | $7.5M | $57.7M | $1.8M | $379,000 |
| Gross profit | $27.6M | $22.6M | $34.2M | $19.2M | $1.3M | −$57.3M | −$1.8M | −$379,000 |
| Research & development | $85.5M | $94.5M | $109.7M | $105.6M | $80.3M | $57.7M | $44.4M | $21.2M |
| Sales, general & admin | $27.6M | $28.4M | $32.4M | $30.7M | $21.7M | $11.2M | $6.7M | $4.8M |
| Total operating expenses | $109.7M | $125.3M | $142.1M | $136.4M | $102.1M | $11.2M | $49.3M | $26.0M |
| Operating income | −$82.1M | −$102.7M | −$107.9M | −$117.1M | −$100.7M | −$68.5M | −$51.1M | −$26.0M |
| Interest income | $8.7M | $11.9M | $10.6M | $5.7M | $2.6M | $1.0M | $495,000 | $113,000 |
| Interest expense | — | — | — | $11.6M | $1.9M | $979,000 | $540,000 | $371,000 |
| Income before taxes | −$74.3M | −$86.6M | −$94.2M | −$108.9M | −$101.3M | −$68.8M | −$51.1M | −$26.3M |
| Income taxes | — | — | $4.2M | −$8,255 | $1.9M | $979,000 | $540,000 | $83,000 |
| Net income | −$74.3M | −$86.6M | −$98.4M | −$108.9M | −$101.3M | −$68.8M | −$51.1M | −$26.3M |
| EBITDA | −$71.0M | −$97.2M | −$90.7M | −$113.8M | −$96.2M | −$67.2M | −$48.8M | −$25.6M |
| EPS (diluted) | −$1.20 | −$1.65 | −$2.34 | −$2.62 | −$2.70 | −$6.27 | −$2.31 | −$1.34 |
| Gross margin | 89.2% | 100.0% | 100.0% | 99.9% | 100.0% | −13,322.1% | — | — |
| Operating margin | −265.6% | −454.3% | −315.9% | −609.2% | −7,637.1% | −15,937.4% | — | — |
| Net margin | −240.3% | −383.2% | −288.2% | −566.2% | −7,681.6% | −16,000.0% | — | — |
| 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 | $16.1M | $3.3M | $9.2M | $8.2M | $7.6M | $6.0M | $2.9M | $7.8M | $6.9M | $5.0M | $5.8M | $17.5M |
| Cost of revenue | $0 | $238,000 | $802,000 | $20.0M | $900,000 | $0 | $761,000 | $700,000 | $800,000 | $835,000 | $852,000 | $26.3M |
| Gross profit | $16.1M | $3.0M | $8.4M | −$11.8M | $6.7M | $6.0M | $2.9M | $7.8M | $6.9M | $5.0M | $4.9M | −$8.8M |
| Research & development | $18.5M | $18.3M | $22.9M | $20.0M | $20.9M | $21.6M | $20.5M | $24.7M | $23.8M | $25.5M | $23.4M | $26.3M |
| Sales, general & admin | $6.4M | $6.6M | $6.8M | $6.7M | $6.9M | $7.2M | $6.4M | $7.0M | $7.3M | $7.7M | $7.0M | $8.3M |
| Total operating expenses | $24.9M | $24.6M | $28.0M | $6.7M | $27.8M | $28.9M | $26.9M | $31.7M | $33.5M | $33.2M | $30.4M | $8.3M |
| Operating income | −$8.8M | −$21.6M | −$19.6M | −$18.5M | −$21.1M | −$22.9M | −$24.0M | −$23.9M | −$26.6M | −$28.2M | −$25.5M | −$17.1M |
| Interest income | $1.6M | $1.7M | $1.7M | $2.0M | $2.3M | $2.7M | $3.1M | $3.5M | $2.9M | $2.4M | $2.7M | $2.8M |
| Interest expense | — | — | — | — | — | — | — | — | — | — | $2.3M | — |
| Income before taxes | −$7.2M | −$19.9M | −$21.7M | −$15.8M | −$17.9M | −$18.8M | −$19.5M | −$19.1M | −$23.0M | −$25.0M | −$22.1M | −$13.6M |
| Income taxes | — | — | — | — | — | — | −$791,724 | −$700,000 | — | $791,724 | $2.0M | $738,000 |
| Net income | −$7.2M | −$19.9M | −$21.7M | −$15.8M | −$17.9M | −$18.8M | −$19.5M | −$19.1M | −$23.0M | −$25.0M | −$24.1M | −$14.3M |
| EBITDA | −$7.0M | −$19.6M | −$20.9M | −$15.0M | −$17.0M | −$18.0M | −$18.7M | −$18.4M | −$23.4M | −$24.2M | −$21.3M | −$12.7M |
| EPS (diluted) | −$0.10 | −$0.29 | −$0.37 | −$0.25 | −$0.28 | −$0.30 | −$0.30 | −$0.31 | −$0.45 | −$0.59 | −$0.57 | −$0.34 |
| Gross margin | 100.0% | 92.7% | 91.3% | −145.3% | 88.1% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 85.2% | −50.2% |
| Operating margin | −54.8% | −660.3% | −211.9% | −226.9% | −279.2% | −385.0% | −840.5% | −305.5% | −386.6% | −558.3% | −441.3% | −97.7% |
| Net margin | −44.7% | −608.4% | −234.3% | −194.4% | −237.3% | −316.4% | −682.9% | −244.9% | −333.6% | −495.4% | −417.9% | −82.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in FHTX's financial statements (latest annual report filed March 11, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
FHTX financial results
In fiscal year 2025 (ended December 31, 2025), Foghorn Therapeutics reported revenue of $30.9 million, up 36.8% from the year before. It had a net loss of $74.3 million, a net profit margin of −240.3%. Diluted earnings per share came to −$1.20. Over five years revenue grew at an average rate of 135.1% a year.
See the FHTX stock overview for the latest quote and news, or the FHTX chart for price history and technical indicators.
FHTX income statement FAQ
What is Foghorn Therapeutics's annual revenue?
Foghorn Therapeutics reported total revenue of $30.9 million for fiscal year 2025, which ended on December 31, 2025. That was up 36.8% from $22.6 million the previous year.
Is Foghorn Therapeutics profitable?
No. Foghorn Therapeutics reported a net loss of $74.3 million in fiscal 2025, a net profit margin of −240.3%; its operating margin was −265.6%.
What is Foghorn Therapeutics's gross margin?
Foghorn Therapeutics's gross margin was 89.2% in fiscal 2025: for every $100 of revenue, Foghorn Therapeutics kept $89 after the direct cost of its products and services.
How much does Foghorn Therapeutics spend on research and development?
Foghorn Therapeutics spent $85.5 million on research and development in fiscal 2025, 276.5% of revenue.
How fast is Foghorn Therapeutics growing?
Revenue grew 135.1% a year on average over the last five fiscal years, from $0.4 million to $30.9 million.
What are Foghorn Therapeutics's earnings per share?
Foghorn Therapeutics earned $-1.20 per diluted share in fiscal 2025, compared with $-1.65 a year earlier.
When will Foghorn Therapeutics report its next earnings?
Foghorn Therapeutics is expected to report results for the quarter ending September 30, 2026 on November 4, 2026.
When does Foghorn Therapeutics's fiscal year end?
Foghorn Therapeutics's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 11, 2026.