What is Alumis Inc.'s R&D?

Alumis Inc. (ALMS) reported R&D of $81.54M in Q1 2026.

How has Alumis Inc.'s R&D changed year-over-year?

Alumis Inc.'s R&D decreased by 15.6% year-over-year, from $96.62M to $81.54M.

What is the long-term trend for Alumis Inc.'s R&D?

Over 2 years (2023 to 2025), Alumis Inc.'s R&D has grown at a 67.4% compound annual growth rate (CAGR), from $137.68M to $386M.

Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

Alumis Inc. ALMS R&D

R&D at other companies

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$2.65B+17.4%

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$1.72B+15.7%

Oruka Therapeutics, Inc.ORKA

$29.15M+46.3%

ANI PharmaceuticalsANIP

$10.6M+0.3%

Celldex TherapeuticsCLDX

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ImmunomeIMNM

$46.38M+25.8%

Segments

By segment

See full

Single Reportable$81.54M-15.6%

Other financials

Income statement

See full

Revenue$1.7M-90.0%

Operating income-$98.4M+3.1%

Net income-$93.1M+6.0%

EPS (diluted)-$0.74+59.3%

Balance sheet

See full

Cash & equivalents$63.9M-50.3%

Total debt$35.7M+1,881%

Total equity$567.0M+237%

Total assets$671.6M+157%

Cash flow

See full

Operating cash flow-$87.1M-8.4%

CapEx$164.0K+343%

Free cash flow-$87.2M-8.5%

Valuation

See full

Market cap$3.12B+739%

Enterprise value$3.1B+1,238%

P/S371.9×—

Profitability

See full

Operating margin-5,364%—

Net margin-2,825.7%—

FCF margin-4,487.4%—

Returns & leverage

See full

Return on equity-64.6%—

Debt / equity0.1×+0.1×

Current ratio7.5×+3.8×

Where this comes from

Reported directly by Alumis Inc. in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The official record: Alumis Inc.’s 10-Q, filed May 14, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Alumis Inc.'s R&D?: Alumis Inc. (ALMS) reported R&D of $81.54M in Q1 2026.
How has Alumis Inc.'s R&D changed year-over-year?: Alumis Inc.'s R&D decreased by 15.6% year-over-year, from $96.62M to $81.54M.
What is the long-term trend for Alumis Inc.'s R&D?: Over 2 years (2023 to 2025), Alumis Inc.'s R&D has grown at a 67.4% compound annual growth rate (CAGR), from $137.68M to $386M.
What does R&D mean?: Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.