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Denali Therapeutics Inc. DNLI Milestone Triggered — Total collaboration revenue

Other product segments

Milestone Payment
$2.5M0.0%
Option Fee Payment
$2.5M+100%

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NBIXCollaboration revenues — Total revenues
$3.5M-60.7%

Other financials

Income statement

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Revenue$3.6M
Gross profit$3.5M
Operating income-$130.5M+3.3%
Net income-$127.6M-2.8%
EPS (diluted)-$0.68+5.6%

Balance sheet

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Cash & equivalents$204.6M+41.8%
Total debt$37.7M-21.4%
Total equity$835.2M-18.7%
Total assets$1.2B-0.7%

Cash flow

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Operating cash flow-$97.0M-28.8%
CapEx$805.0K-81.2%
Free cash flow-$97.8M-22.9%

Valuation

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Market cap$3.92B+88.3%
Enterprise value$3.76B+89.0%
P/S1,089×+1,084×

Profitability

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Operating margin-37,938%-37,986pp
Net margin-33,121.9%-33,159pp
FCF margin-31,736.3%-31,830pp

Returns & leverage

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Return on equity-54.9%+34.3pp
Debt / equity0.0×
Current ratio8.4×-1.9×

Where this comes from

Reported directly by Denali Therapeutics Inc. in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The source filing: Denali Therapeutics Inc.’s 10-Q, filed August 6, 2026.

Filed
Aug 6, 2026, 4:08 PM EDT
Fiscal quarter
Q4 FY2026
Calendar quarter
Q4 2026
Accession
0001714899-26-000097

Under the Sanofi Collaboration Agreement, the Company is eligible to receive milestone payments totaling up to approximately $495.0 million upon achievement of certain clinical, regulatory and sales milestone events for Peripheral Products, and variable royalties on worldwide net sales. As of June 30, 2026, the Company had earned milestone payments of $100.0 million and had not recorded any product sales under the Sanofi Collaboration Agreement.

Item 1. Financial Statements (Unaudited)

FAQ

What is Denali Therapeutics Inc.'s milestone triggered — total collaboration revenue?
Denali Therapeutics Inc. (DNLI) reported milestone triggered — total collaboration revenue of $25M in Q4 2026.
How has Denali Therapeutics Inc.'s milestone triggered — total collaboration revenue changed year-over-year?
Denali Therapeutics Inc.'s milestone triggered — total collaboration revenue decreased by 0.0% year-over-year, from $25M to $25M.
What is the long-term trend for Denali Therapeutics Inc.'s milestone triggered — total collaboration revenue?
Over 3 years (2022 to 2026), Denali Therapeutics Inc.'s milestone triggered — total collaboration revenue has grown at a 15.4% compound annual growth rate (CAGR), from $65M to $100M.
What does milestone triggered — total collaboration revenue mean?
Represents the aggregate revenue recognized from collaborative research and development agreements within a specific business segment. This metric captures the financial value derived from achieving contractually defined milestones or performance obligations in partnership with other entities. It serves as a key indicator of the commercial success and progress of the company's joint development programs.

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