First Tracks Biotherapeutics (TRAX) Income Statement
TRAX 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsTRAX revenue and net income
TRAX 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.
TRAX quarterly EPS vs estimates
First Tracks Biotherapeutics beat the analyst EPS estimate in 0 of the last 2 quarters. Next report: November 11, 2026 (estimate $-0.92).
TRAX income statement
| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Revenue | $0 | $0 | $0 |
| Cost of revenue | $139.6M | $152.3M | — |
| Gross profit | −$139.6M | −$152.3M | — |
| Research & development | $139.6M | $152.3M | $97.6M |
| Sales, general & admin | $39.4M | $28.8M | $20.9M |
| Total operating expenses | $39.4M | $28.8M | $118.5M |
| Operating income | −$179.0M | −$181.1M | −$118.5M |
| Interest income | — | $17.4M | $12.3M |
| Income before taxes | −$166.1M | −$163.7M | −$106.2M |
| Net income | −$166.1M | −$163.7M | −$106.2M |
| EBITDA | −$176.6M | −$178.7M | −$116.1M |
| EPS (diluted) | −$4.78 | — | — |
| Jun '26 | Mar '26 | Jun '25 | Mar '25 | |
|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 |
| Cost of revenue | $207,000 | — | — | — |
| Gross profit | −$207,000 | — | — | — |
| Research & development | $25.5M | $34.0M | $39.3M | $41.5M |
| Sales, general & admin | $9.3M | $18.9M | $6.6M | $9.8M |
| Total operating expenses | $34.7M | $52.8M | $45.9M | $51.3M |
| Operating income | −$34.9M | −$52.8M | −$45.9M | −$51.3M |
| Interest income | $1.6M | $2.3M | $3.5M | $4.1M |
| Income before taxes | −$33.4M | −$50.5M | −$42.4M | −$47.2M |
| Net income | −$33.4M | −$50.5M | −$42.4M | −$47.2M |
| EBITDA | −$34.7M | −$52.7M | −$45.3M | −$50.7M |
| EPS (diluted) | −$0.95 | −$1.45 | — | — |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in TRAX's financial statements (latest annual report filed December 31, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
TRAX financial results
First Tracks Biotherapeutics reported no revenue in fiscal year 2025 (ended December 31, 2025). It had a net loss of $166.1 million. Diluted earnings per share came to −$4.78.
See the TRAX stock overview for the latest quote and news, or the TRAX chart for price history and technical indicators.
TRAX income statement FAQ
Does First Tracks Biotherapeutics have revenue?
First Tracks Biotherapeutics reported no revenue for fiscal year 2025, which ended on December 31, 2025.
Is First Tracks Biotherapeutics profitable?
No. First Tracks Biotherapeutics reported a net loss of $166.1 million in fiscal 2025.
How much does First Tracks Biotherapeutics spend on research and development?
First Tracks Biotherapeutics spent $139.6 million on research and development in fiscal 2025.
What are First Tracks Biotherapeutics's earnings per share?
First Tracks Biotherapeutics earned $-4.78 per diluted share in fiscal 2025.
When will First Tracks Biotherapeutics report its next earnings?
First Tracks Biotherapeutics is expected to report results for the quarter ending September 30, 2026 on November 11, 2026.
When does First Tracks Biotherapeutics's fiscal year end?
First Tracks Biotherapeutics's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on December 31, 2025.