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Other financials

Income statement

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Revenue$3.0M+21,664%
Operating income-$73.6M-37.3%
Net income-$68.8M-43.3%
EPS (diluted)-$1.01-17.4%

Balance sheet

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Cash & equivalents$72.5M-45.7%
Total debt$20.5M-13.9%
Total equity$451.8M-3.8%
Total assets$512.9M-0.5%

Cash flow

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Operating cash flow-$68.1M-42.6%
CapEx--100%
Free cash flow-$68.1M-40.8%

Valuation

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Market cap$561.97M+119%
Enterprise value$510.02M+152%
P/S6.4×-7,758×

Profitability

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Operating margin-220.1%-110pp
Net margin-174,314.2%-62,763pp
FCF margin-154,209.2%-53,057pp

Returns & leverage

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Return on equity-45.4%+29.8pp
Debt / equity0.0×
Current ratio9.3×-3.0×

Where this comes from

Reported directly by 4D Molecular Therapeutics in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost.

The source filing: 4D Molecular Therapeutics’s 10-Q, filed May 7, 2026.

Filed
May 7, 2026, 4:13 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001193125-26-211939
Line itemThree Months Ended March 31, 2026Three Months Ended March 31, 2025
Revenue:
Collaboration and license revenue$3,047$14
Operating expenses:
Research and development64,98040,699
General and administrative11,68712,936
Total operating expenses76,66753,635
Loss from operations(73,620)(53,621)
Other income (expense):

Item 1. Condensed Financial Statements (Unaudited)

FAQ

What is 4D Molecular Therapeutics's R&D?
4D Molecular Therapeutics (FDMT) reported R&D of $64.98M in Q1 2026.
How has 4D Molecular Therapeutics's R&D changed year-over-year?
4D Molecular Therapeutics's R&D increased by 59.7% year-over-year, from $40.7M to $64.98M.
What is the long-term trend for 4D Molecular Therapeutics's R&D?
Over 4 years (2021 to 2025), 4D Molecular Therapeutics's R&D has grown at a 33.6% compound annual growth rate (CAGR), from $61.36M to $195.7M.
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.

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