Revolution Medicines, Inc. (RVMD) Income Statement
RVMD 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsRVMD revenue and net income
RVMD profit margins
RVMD 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.
RVMD quarterly EPS vs estimates
Revolution Medicines beat the analyst EPS estimate in 0 of the last 8 quarters. Next report: November 4, 2026 (estimate $-2.34).
RVMD income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $11.6M | $35.4M | $29.4M | $43.0M | $50.0M | $20.2M | $0 |
| Cost of revenue | $16.6M | $592.2M | $411.2M | $253.1M | $186.9M | $132.3M | $91.8M | $51.1M | $26.6M |
| Gross profit | −$16.6M | −$592.2M | $11.6M | $35.4M | $29.4M | $43.0M | $50.0M | $20.2M | −$26.6M |
| Research & development | $978.7M | $592.2M | $423.1M | $253.1M | $186.9M | $132.3M | $91.8M | $51.1M | $26.6M |
| Sales, general & admin | $187.1M | $97.3M | $78.8M | $40.6M | $30.4M | $21.4M | $12.4M | $9.4M | $4.5M |
| Total operating expenses | $1.17B | $689.5M | $498.8M | $293.7M | $217.4M | $153.7M | $104.2M | $60.5M | $4.5M |
| Operating income | −$1.18B | −$689.5M | −$487.2M | −$258.3M | −$188.0M | −$110.7M | −$54.1M | −$40.3M | −$31.1M |
| Interest income | $90.7M | $86.9M | $47.5M | $9.2M | $929,000 | $2.2M | $2.2M | $777,000 | $105,000 |
| Interest expense | $24.2M | $0 | $303,000 | $9.7M | $12,000 | $71,000 | $106,000 | $116,000 | $103,000 |
| Income before taxes | −$1.13B | −$600.8M | −$439.9M | −$249.1M | −$187.1M | −$108.5M | −$52.0M | −$41.8M | −$31.1M |
| Income taxes | — | −$753,000 | −$3.5M | −$420,000 | −$7.3M | −$371,000 | −$4.4M | −$1.3M | $105,000 |
| Net income | −$1.13B | −$600.1M | −$436.4M | −$248.7M | −$187.1M | −$108.2M | −$47.7M | −$41.8M | −$31.1M |
| EBITDA | −$1.09B | −$589.0M | −$430.3M | −$239.5M | −$179.7M | −$101.9M | −$48.6M | −$39.9M | −$29.8M |
| EPS (diluted) | −$5.91 | −$3.57 | −$3.77 | −$3.10 | −$2.56 | −$2.14 | −$6.89 | −$1.15 | −$15.56 |
| Gross margin | — | — | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | — |
| Operating margin | — | — | −4,207.1% | −730.0% | −639.7% | −257.5% | −108.2% | −200.0% | — |
| Net margin | — | — | −3,768.3% | −703.0% | −636.6% | −251.6% | −95.2% | −207.2% | — |
| 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 | $0 | $0 | $0 | $0 | $0 | $261.6M | $0 | $0 | $0 | $742,000 | $0 |
| Cost of revenue | — | $4.5M | $4.7M | — | $3.8M | $205.7M | $188.1M | $151.8M | $12.8M | $118.0M | $136.6M | $107.7M |
| Gross profit | — | −$4.5M | −$4.7M | — | −$3.8M | −$205.7M | −$188.1M | −$151.8M | −$12.8M | −$118.0M | $742,000 | −$107.7M |
| Research & development | $394.9M | $344.0M | $292.6M | $262.5M | $224.1M | $205.7M | $188.1M | $151.8M | $134.9M | $118.0M | $148.5M | $107.7M |
| Sales, general & admin | $110.2M | $101.3M | $64.3M | $52.8M | $40.6M | $35.0M | $28.2M | $24.0M | $22.6M | $22.8M | $33.5M | $15.5M |
| Total operating expenses | $505.1M | $440.7M | $356.9M | $315.3M | $264.7M | $240.8M | $216.3M | $175.7M | $156.6M | $140.9M | $180.7M | $123.2M |
| Operating income | −$505.1M | −$445.2M | −$361.6M | −$315.3M | −$264.7M | −$240.8M | −$216.3M | −$175.7M | −$156.6M | −$140.9M | −$180.0M | −$123.2M |
| Interest income | $35.6M | $19.5M | $21.3M | $22.1M | $22.4M | $24.9M | $21.2M | $20.4M | $21.5M | $23.8M | $19.0M | $10.9M |
| Interest expense | $23.8M | $12.2M | $11.9M | $11.4M | $899,000 | — | — | — | — | — | $9.3M | — |
| Income before taxes | −$644.4M | −$453.8M | −$364.9M | −$305.2M | −$247.8M | −$213.4M | −$195.3M | −$156.3M | −$133.2M | −$116.0M | −$161.2M | −$112.3M |
| Income taxes | — | — | — | — | — | — | −$753,000 | −$156.3M | — | −$2.8M | $343,000 | −$3.9M |
| Net income | −$644.4M | −$453.8M | −$364.9M | −$305.2M | −$247.8M | −$213.4M | −$194.6M | −$156.3M | −$133.2M | −$116.0M | −$161.5M | −$108.4M |
| EBITDA | −$616.1M | −$437.1M | −$348.3M | −$289.4M | −$244.0M | −$209.7M | −$191.9M | −$153.4M | −$130.4M | −$113.2M | −$129.5M | −$110.2M |
| EPS (diluted) | −$2.34 | −$2.29 | −$1.86 | −$1.61 | −$1.31 | −$1.13 | −$1.12 | −$0.94 | −$0.81 | −$0.70 | −$1.14 | −$0.99 |
| Gross margin | — | — | — | — | — | — | −71.9% | — | — | — | 100.0% | — |
| Operating margin | — | — | — | — | — | — | −82.7% | — | — | — | −24,256.5% | — |
| Net margin | — | — | — | — | — | — | −74.4% | — | — | — | −21,770.5% | — |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in RVMD's financial statements (latest annual report filed February 25, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
RVMD financial results
Revolution Medicines reported no revenue in fiscal year 2025 (ended December 31, 2025). It had a net loss of $1.1 billion. Diluted earnings per share came to −$5.91.
See the RVMD stock overview for the latest quote and news, or the RVMD chart for price history and technical indicators.
RVMD income statement FAQ
Does Revolution Medicines have revenue?
Revolution Medicines reported no revenue for fiscal year 2025, which ended on December 31, 2025.
Is Revolution Medicines profitable?
No. Revolution Medicines reported a net loss of $1.1 billion in fiscal 2025.
How much does Revolution Medicines spend on research and development?
Revolution Medicines spent $978.7 million on research and development in fiscal 2025.
What are Revolution Medicines's earnings per share?
Revolution Medicines earned $-5.91 per diluted share in fiscal 2025, compared with $-3.57 a year earlier.
When will Revolution Medicines report its next earnings?
Revolution Medicines is expected to report results for the quarter ending September 30, 2026 on November 4, 2026 after the market closes.
When does Revolution Medicines's fiscal year end?
Revolution Medicines's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 25, 2026.