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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$582.36M+127%
Enterprise value$530.4M+162%
P/S6.6×-7,757×

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:RetainedEarningsAccumulatedDeficit.

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 itemMarch 31,2026December 31,2025
Stockholders’ equity
Preferred stock, $0.0001 par value, 10,000,000 shares authorized at March 31, 2026 and December 31, 2025; no shares issued and outstanding at March 31, 2026 and December 31, 2025
Common stock, $0.0001 par value, 300,000,000 shares authorized at March 31, 2026 and December 31, 2025; 52,271,648 and 57,607,874 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively56
Additional paid-in-capital1,237,0751,221,235
Accumulated other comprehensive gain (loss)(180)727
Accumulated deficit(785,064)(716,304)
Total stockholders’ equity451,836505,664
Total liabilities and stockholders’ equity$512,905$566,711

Item 1. Condensed Financial Statements (Unaudited)

FAQ

What is 4D Molecular Therapeutics's retained earnings?
4D Molecular Therapeutics (FDMT) reported retained earnings of -$785.06M in Q1 2026.
How has 4D Molecular Therapeutics's retained earnings changed year-over-year?
4D Molecular Therapeutics's retained earnings decreased by 25.8% year-over-year, from -$624.17M to -$785.06M.
What is the long-term trend for 4D Molecular Therapeutics's retained earnings?
Over 5 years (2020 to 2025), 4D Molecular Therapeutics's retained earnings has grown at a 39.5% compound annual growth rate (CAGR), from -$135.68M to -$716.3M.
What does retained earnings mean?
Cumulative net income earned since inception minus all dividends paid — the total profits reinvested in the business over its lifetime.

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