NextCure, Inc. (NXTC) Income Statement
NXTC 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsNXTC revenue and net income
NXTC profit margins
NXTC 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.
NXTC quarterly EPS vs estimates
NextCure beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 4, 2026 (estimate $-0.90).
NXTC income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $22.4M | $6.3M | $0 | $0 |
| Cost of revenue | $2.2M | $2.9M | $3.7M | $4.5M | $4.3M | $46,554 | $34.2M | $1.7M | $582,000 |
| Gross profit | −$2.2M | −$2.9M | −$3.7M | −$4.5M | −$4.3M | $22.4M | −$27.9M | −$1.7M | −$582,000 |
| Research & development | $44.9M | $41.5M | $47.9M | $54.2M | $50.2M | $46.6M | $34.2M | $19.8M | $13.0M |
| Sales, general & admin | $12.7M | $15.7M | $19.7M | $21.7M | $20.6M | $17.0M | $9.6M | $3.4M | $2.6M |
| Total operating expenses | $55.4M | $59.7M | $67.6M | $75.9M | $70.8M | $63.6M | $9.6M | $23.2M | $15.5M |
| Operating income | −$57.6M | −$59.7M | −$67.6M | −$75.9M | −$70.8M | −$41.2M | −$37.5M | −$23.2M | −$15.5M |
| Interest income | — | — | — | — | — | — | $3.7M | — | — |
| Interest expense | — | — | — | $5.3M | $77,000 | $183,000 | $209,000 | $0 | $0 |
| Income before taxes | −$55.8M | −$55.7M | −$62.7M | −$74.7M | −$69.4M | −$36.6M | −$33.7M | −$22.8M | −$15.5M |
| Income taxes | — | — | — | −$5.3M | $7.0M | −$3.4M | $2.5M | $397,000 | $0 |
| Net income | −$55.8M | −$55.7M | −$62.7M | −$69.4M | −$69.4M | −$33.2M | −$33.7M | −$22.8M | −$15.5M |
| EBITDA | −$53.7M | −$54.3M | −$59.0M | −$71.8M | −$65.1M | −$37.8M | −$34.8M | −$21.1M | −$15.0M |
| EPS (diluted) | −$20.00 | −$18.19 | −$21.28 | −$25.46 | −$23.41 | −$13.65 | −$20.30 | −$2.27 | — |
| Gross margin | — | — | — | — | — | 100.0% | −439.1% | — | — |
| Operating margin | — | — | — | — | — | −184.2% | −590.5% | — | — |
| Net margin | — | — | — | — | — | −148.3% | −531.5% | — | — |
| 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 | $3.3M | $0 | $0 | $0 | $6.3M | $0 |
| Cost of revenue | — | $283,000 | $365,000 | — | $633,000 | $654,000 | $1.6M | $700,000 | $701,000 | $940,000 | $824,000 | $946,000 |
| Gross profit | — | −$283,000 | −$365,000 | — | −$633,000 | −$654,000 | $1.6M | −$700,000 | −$701,000 | −$940,000 | $5.5M | −$946,000 |
| Research & development | $7.4M | $6.8M | $6.8M | $6.1M | $24.1M | $7.9M | $8.9M | $8.8M | $12.4M | $11.4M | $11.8M | $11.0M |
| Sales, general & admin | $2.6M | $3.3M | $3.0M | $2.8M | $3.2M | $3.7M | $3.6M | $3.7M | $4.1M | $4.4M | $4.0M | $4.6M |
| Total operating expenses | $15.1M | $9.8M | $9.8M | $8.9M | $27.3M | $11.6M | $12.5M | $12.5M | $15.8M | $18.3M | $15.8M | $15.6M |
| Operating income | −$15.1M | −$10.1M | −$9.8M | −$8.9M | −$27.3M | −$11.6M | −$12.5M | −$12.5M | −$16.5M | −$18.3M | −$15.8M | −$15.6M |
| Interest expense | — | — | — | — | — | — | — | — | — | — | $975,000 | — |
| Income before taxes | −$14.9M | −$9.8M | −$9.4M | −$8.6M | −$26.8M | −$11.0M | −$11.6M | −$11.5M | −$15.4M | −$17.1M | −$14.5M | −$14.3M |
| Income taxes | — | — | — | — | — | — | — | — | — | $896,724 | $975,000 | $985,586 |
| Net income | −$14.9M | −$9.8M | −$9.4M | −$8.6M | −$26.8M | −$11.0M | −$11.6M | −$11.5M | −$15.4M | −$17.1M | −$14.5M | −$14.3M |
| EBITDA | −$14.6M | −$9.5M | −$9.1M | −$8.1M | −$26.2M | −$10.3M | −$10.9M | −$10.8M | −$14.7M | −$15.0M | −$13.6M | −$13.4M |
| EPS (diluted) | −$1.84 | −$1.87 | −$0.81 | −$3.22 | −$11.29 | −$4.68 | −$0.41 | −$4.92 | −$6.60 | −$6.26 | −$0.52 | −$6.12 |
| Gross margin | — | — | — | — | — | — | 50.0% | — | — | — | 86.9% | — |
| Operating margin | — | — | — | — | — | — | −379.5% | — | — | — | −251.3% | — |
| Net margin | — | — | — | — | — | — | −353.5% | — | — | — | −230.2% | — |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in NXTC's financial statements (latest annual report filed March 5, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
NXTC financial results
NextCure reported no revenue in fiscal year 2025 (ended December 31, 2025). It had a net loss of $55.8 million. Diluted earnings per share came to −$20.00.
See the NXTC stock overview for the latest quote and news, or the NXTC chart for price history and technical indicators.
NXTC income statement FAQ
Does NextCure have revenue?
NextCure reported no revenue for fiscal year 2025, which ended on December 31, 2025.
Is NextCure profitable?
No. NextCure reported a net loss of $55.8 million in fiscal 2025.
How much does NextCure spend on research and development?
NextCure spent $44.9 million on research and development in fiscal 2025.
What are NextCure's earnings per share?
NextCure earned $-20.00 per diluted share in fiscal 2025, compared with $-18.19 a year earlier.
When will NextCure report its next earnings?
NextCure is expected to report results for the quarter ending September 30, 2026 on November 4, 2026.
When does NextCure's fiscal year end?
NextCure's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 5, 2026.