Maze Therapeutics, Inc. (MAZE) Income Statement
MAZE 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsMAZE revenue and net income
MAZE profit margins
MAZE growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −100.0% | — | — | — |
| Gross profit | −101.4% | — | — | — |
| Operating income | −348.1% | — | — | — |
| Net income | −351.0% | — | — | — |
| 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.
MAZE quarterly EPS vs estimates
Maze Therapeutics beat the analyst EPS estimate in 5 of the last 7 quarters. Next report: November 5, 2026 (estimate $-0.78).
MAZE income statement
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Revenue | $0 | $167.5M | $0 | $0 |
| Cost of revenue | $2.4M | $3.3M | $4.1M | $3.8M |
| Gross profit | −$2.4M | $167.5M | −$4.1M | −$3.8M |
| Research & development | $108.4M | $83.5M | $73.9M | $88.2M |
| Sales, general & admin | $34.5M | $26.4M | $24.6M | $22.8M |
| Total operating expenses | $140.5M | $109.9M | $98.6M | $111.0M |
| Operating income | −$142.9M | $57.6M | −$98.6M | −$111.0M |
| Interest income | $11.8M | $4.7M | $2.0M | $2.0M |
| Income before taxes | −$131.1M | $53.4M | −$100.4M | −$114.9M |
| Income taxes | — | $1.2M | — | — |
| Net income | −$131.1M | $52.2M | −$100.4M | −$114.9M |
| EBITDA | −$128.7M | $56.7M | −$96.3M | −$111.1M |
| EPS (diluted) | −$3.23 | −$18.32 | −$2.29 | −$57.47 |
| Gross margin | — | 100.0% | — | — |
| Operating margin | — | 34.4% | — | — |
| Net margin | — | 31.2% | — | — |
| 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 | $20.0M | $0 | $0 | $0 | $0 | $0 | $2.5M | $165.0M | $0 | $0 | $0 |
| Cost of revenue | — | $444,000 | $499,000 | — | $649,000 | $684,000 | $705,000 | $788,000 | $0 | $950,000 | $976,000 | $1.0M |
| Gross profit | — | $19.6M | −$499,000 | — | −$649,000 | −$684,000 | −$705,000 | $2.5M | $165.0M | −$950,000 | −$976,000 | −$1.0M |
| Research & development | $34.9M | $33.7M | $27.6M | $25.2M | $28.1M | $27.6M | $22.2M | $19.9M | $19.5M | $21.9M | $16.0M | $19.5M |
| Sales, general & admin | $13.1M | $12.4M | $10.5M | $7.8M | $8.4M | $7.8M | $7.5M | $6.9M | $5.9M | $6.1M | $7.0M | $5.8M |
| Total operating expenses | $48.0M | $46.1M | $37.6M | $33.0M | $35.8M | $35.4M | $29.7M | $26.7M | $25.4M | $28.0M | $23.1M | $25.2M |
| Operating income | −$48.0M | −$26.6M | −$38.1M | −$33.0M | −$36.5M | −$35.4M | −$29.7M | −$24.2M | $139.6M | −$28.0M | −$23.1M | −$25.2M |
| Interest income | $4.2M | $3.2M | $3.5M | $2.9M | $2.8M | $2.6M | $1.5M | $1.8M | $1.0M | $281,000 | $304,000 | $481,000 |
| Interest expense | $931,000 | $866,000 | — | — | $0 | $0 | — | — | — | — | — | — |
| Income before taxes | −$44.7M | −$24.2M | −$34.6M | −$30.1M | −$33.7M | −$32.8M | −$29.9M | −$25.0M | $140.8M | −$32.5M | −$26.6M | −$24.7M |
| Income taxes | — | — | — | — | — | — | −$275,000 | −$279,000 | $1.7M | — | — | — |
| Net income | −$44.7M | −$24.2M | −$34.6M | −$30.1M | −$33.7M | −$32.8M | −$29.6M | −$24.8M | $139.1M | −$32.5M | −$26.6M | −$24.7M |
| EBITDA | −$43.4M | −$22.9M | −$34.1M | −$29.5M | −$33.0M | −$32.1M | −$29.1M | −$24.2M | $141.6M | −$31.5M | −$25.6M | −$23.7M |
| EPS (diluted) | −$0.76 | −$0.45 | −$0.65 | −$0.66 | −$0.77 | −$1.15 | −$18.32 | — | — | — | — | — |
| Gross margin | — | 97.8% | — | — | — | — | — | 100.0% | 100.0% | — | — | — |
| Operating margin | — | −132.8% | — | — | — | — | — | −969.2% | 84.6% | — | — | — |
| Net margin | — | −121.0% | — | — | — | — | — | −990.1% | 84.3% | — | — | — |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MAZE's financial statements (latest annual report filed March 25, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MAZE financial results
Maze Therapeutics reported no revenue in fiscal year 2025 (ended December 31, 2025). It had a net loss of $131.1 million. Diluted earnings per share came to −$3.23.
See the MAZE stock overview for the latest quote and news, or the MAZE chart for price history and technical indicators.
MAZE income statement FAQ
Does Maze Therapeutics have revenue?
Maze Therapeutics reported no revenue for fiscal year 2025, which ended on December 31, 2025.
Is Maze Therapeutics profitable?
No. Maze Therapeutics reported a net loss of $131.1 million in fiscal 2025.
How much does Maze Therapeutics spend on research and development?
Maze Therapeutics spent $108.4 million on research and development in fiscal 2025.
What are Maze Therapeutics's earnings per share?
Maze Therapeutics earned $-3.23 per diluted share in fiscal 2025, compared with $-18.32 a year earlier.
When will Maze Therapeutics report its next earnings?
Maze Therapeutics is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 after the market closes.
When does Maze Therapeutics's fiscal year end?
Maze Therapeutics's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 25, 2026.