Rapport Therapeutics, Inc. (RAPP) Income Statement
RAPP 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsRAPP revenue and net income
RAPP 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.
RAPP quarterly EPS vs estimates
Rapport Therapeutics beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: November 5, 2026 (estimate $-1.21).
RAPP income statement
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 |
| Cost of revenue | $1.0M | $839,000 | $112,000 | $15,000 |
| Gross profit | −$1.0M | −$839,000 | −$112,000 | −$15,000 |
| Research & development | $94.8M | $60.9M | $28.0M | $9.1M |
| Sales, general & admin | $30.3M | $22.1M | $8.3M | $1.4M |
| Total operating expenses | $125.1M | $83.1M | $36.2M | $10.4M |
| Operating income | −$125.1M | −$83.1M | −$36.2M | −$10.4M |
| Interest income | $13.6M | $12.1M | $2.5M | — |
| Interest expense | — | — | $0 | $285,000 |
| Income before taxes | −$111.5M | −$78.3M | −$34.8M | −$10.7M |
| Income taxes | — | — | $10,000 | — |
| Net income | −$111.5M | −$78.3M | −$34.8M | −$10.7M |
| EBITDA | −$124.1M | −$82.2M | −$36.1M | −$10.4M |
| EPS (diluted) | −$2.86 | −$3.89 | −$1.92 | −$10.65 |
| 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 | $720,000 | $0 | $0 | $0 | $0 | $0 |
| Cost of revenue | — | $227,000 | $265,000 | $256,000 | $252,000 | $244,000 | $260,000 | $219,000 | $208,000 | $152,000 | $76,000 | $23,000 |
| Gross profit | — | $20.0M | −$265,000 | −$256,000 | −$252,000 | −$244,000 | −$260,000 | −$219,000 | −$208,000 | −$152,000 | −$76,000 | −$23,000 |
| Research & development | $51.4M | $32.7M | $30.3M | $22.3M | $22.7M | $19.6M | $17.2M | $15.5M | $15.7M | $12.5M | $11.8M | $7.6M |
| Sales, general & admin | $9.4M | $11.5M | $8.3M | $7.7M | $6.8M | $7.5M | $6.3M | $6.1M | $5.3M | $4.7M | $3.1M | $2.0M |
| Total operating expenses | $60.8M | $44.2M | $38.5M | $30.0M | $29.5M | $27.1M | $23.5M | $21.6M | $20.8M | $17.1M | $14.8M | $9.6M |
| Operating income | −$60.8M | −$24.2M | −$38.5M | −$30.0M | −$29.5M | −$27.1M | −$23.5M | −$21.6M | −$20.8M | −$17.1M | −$14.8M | −$9.6M |
| Interest income | $4.2M | $4.4M | $4.7M | $3.1M | $2.8M | $3.0M | $3.5M | $4.1M | $2.7M | $1.8M | $1.4M | $856,000 |
| Income before taxes | −$56.6M | −$19.9M | −$33.8M | −$26.9M | −$26.7M | −$24.1M | −$20.0M | −$17.5M | −$18.1M | −$22.7M | −$13.5M | −$8.7M |
| Income taxes | — | — | — | — | — | — | — | — | — | — | $6,000 | $1,000 |
| Net income | −$56.6M | −$19.9M | −$33.8M | −$26.9M | −$26.7M | −$24.1M | −$20.0M | −$17.5M | −$18.1M | −$22.7M | −$13.5M | −$8.7M |
| EBITDA | −$56.4M | −$24.0M | −$38.2M | −$29.7M | −$29.2M | −$26.9M | −$23.3M | −$21.4M | −$20.6M | −$16.9M | −$13.3M | −$9.5M |
| EPS (diluted) | −$1.19 | −$0.42 | −$0.72 | −$0.71 | −$0.75 | −$0.68 | −$0.57 | −$0.50 | −$1.70 | −$1.12 | — | — |
| Gross margin | — | 100.0% | — | — | — | — | −36.1% | — | — | — | — | — |
| Operating margin | — | −121.1% | — | — | — | — | −3,266.8% | — | — | — | — | — |
| Net margin | — | −99.3% | — | — | — | — | −2,775.0% | — | — | — | — | — |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in RAPP's financial statements (latest annual report filed March 10, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
RAPP financial results
Rapport Therapeutics reported no revenue in fiscal year 2025 (ended December 31, 2025). It had a net loss of $111.5 million. Diluted earnings per share came to −$2.86.
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RAPP income statement FAQ
Does Rapport Therapeutics have revenue?
Rapport Therapeutics reported no revenue for fiscal year 2025, which ended on December 31, 2025.
Is Rapport Therapeutics profitable?
No. Rapport Therapeutics reported a net loss of $111.5 million in fiscal 2025.
How much does Rapport Therapeutics spend on research and development?
Rapport Therapeutics spent $94.8 million on research and development in fiscal 2025.
What are Rapport Therapeutics's earnings per share?
Rapport Therapeutics earned $-2.86 per diluted share in fiscal 2025, compared with $-3.89 a year earlier.
When will Rapport Therapeutics report its next earnings?
Rapport Therapeutics is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 before the market opens.
When does Rapport Therapeutics's fiscal year end?
Rapport Therapeutics's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 10, 2026.