MBX Biosciences, Inc. (MBX) Income Statement
MBX 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsMBX revenue and net income
MBX 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.
MBX quarterly EPS vs estimates
MBX Biosciences beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: November 5, 2026 (estimate $-0.80).
MBX income statement
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 |
| Cost of revenue | $248,000 | $244,000 | $157,000 | $56,000 |
| Gross profit | −$248,000 | −$244,000 | −$157,000 | −$56,000 |
| Research & development | $79.2M | $57.4M | $28.5M | $21.4M |
| Sales, general & admin | $18.9M | $10.8M | $6.8M | $3.8M |
| Total operating expenses | $98.1M | $68.2M | $35.3M | $25.2M |
| Operating income | −$98.1M | −$68.2M | −$35.3M | −$25.2M |
| Interest income | $11.1M | $6.3M | $2.7M | $372,000 |
| Interest expense | — | — | $0 | $374,000 |
| Income before taxes | −$87.0M | −$61.9M | −$32.6M | −$26.1M |
| Net income | −$87.0M | −$61.9M | −$32.6M | −$26.1M |
| EBITDA | −$86.7M | −$61.7M | −$32.4M | −$25.7M |
| EPS (diluted) | −$2.41 | −$14.72 | −$1.02 | −$26.14 |
| 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 | $222,000 | $0 | $0 | $0 | $0 | $0 |
| Cost of revenue | — | $64,000 | $60,000 | $100,000 | $100,000 | $77,000 | $111,000 | $100,000 | $63,000 | $48,000 | — | $100,000 |
| Gross profit | — | −$64,000 | −$60,000 | −$100,000 | −$100,000 | −$77,000 | $111,000 | −$100,000 | −$63,000 | −$48,000 | — | −$100,000 |
| Research & development | $31.0M | $18.5M | $19.8M | $19.3M | $17.7M | $22.4M | $15.2M | $16.7M | $14.4M | $11.0M | $7.7M | $9.1M |
| Sales, general & admin | $9.9M | $8.8M | $6.0M | $4.7M | $4.1M | $4.1M | $3.4M | $2.9M | $2.3M | $2.3M | $2.3M | $1.9M |
| Total operating expenses | $40.9M | $27.3M | $25.8M | $23.9M | $21.8M | $26.5M | $18.6M | $19.6M | $16.7M | $13.3M | $10.0M | $10.9M |
| Operating income | −$40.9M | −$27.3M | −$25.8M | −$23.9M | −$21.8M | −$26.5M | −$18.6M | −$19.6M | −$16.7M | −$13.3M | −$10.0M | −$10.9M |
| Interest income | $3.8M | $3.7M | $3.7M | $2.3M | $2.4M | $2.6M | $3.0M | $1.5M | $801,000 | $977,000 | $1.1M | $783,000 |
| Income before taxes | −$37.1M | −$23.5M | −$22.1M | −$21.6M | −$19.4M | −$23.9M | −$15.6M | −$18.1M | −$15.9M | −$12.3M | −$8.8M | −$10.2M |
| Net income | −$37.1M | −$23.5M | −$22.1M | −$21.6M | −$19.4M | −$23.9M | −$15.6M | −$18.1M | −$15.9M | −$12.3M | −$8.8M | −$10.2M |
| EBITDA | −$40.9M | −$23.5M | −$22.0M | −$21.6M | −$19.4M | −$23.8M | −$15.5M | −$18.1M | −$15.8M | −$12.3M | −$7.2M | −$10.1M |
| EPS (diluted) | −$0.78 | −$0.51 | −$0.49 | −$0.63 | −$0.58 | −$0.71 | −$0.47 | −$2.78 | −$11.47 | — | — | — |
| Gross margin | — | — | — | — | — | — | 50.0% | — | — | — | — | — |
| Operating margin | — | — | — | — | — | — | −8,382.9% | — | — | — | — | — |
| Net margin | — | — | — | — | — | — | −7,020.7% | — | — | — | — | — |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MBX's financial statements (latest annual report filed March 12, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MBX financial results
MBX Biosciences reported no revenue in fiscal year 2025 (ended December 31, 2025). It had a net loss of $87.0 million. Diluted earnings per share came to −$2.41.
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MBX income statement FAQ
Does MBX Biosciences have revenue?
MBX Biosciences reported no revenue for fiscal year 2025, which ended on December 31, 2025.
Is MBX Biosciences profitable?
No. MBX Biosciences reported a net loss of $87.0 million in fiscal 2025.
How much does MBX Biosciences spend on research and development?
MBX Biosciences spent $79.2 million on research and development in fiscal 2025.
What are MBX Biosciences's earnings per share?
MBX Biosciences earned $-2.41 per diluted share in fiscal 2025, compared with $-14.72 a year earlier.
When will MBX Biosciences report its next earnings?
MBX Biosciences is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 before the market opens.
When does MBX Biosciences's fiscal year end?
MBX Biosciences's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 12, 2026.