MAZE (MAZE) reported R&D of $34.15M in Q1 2026.

How has MAZE's R&D changed year-over-year?

MAZE's R&D increased by 23.8% year-over-year, from $27.58M to $34.15M.

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

MAZE MAZE R&D

R&D at other companies

Septerna, Inc.SEPN

$29.54M+53.3%

Stoke Therapeutics, Inc.STOK

$39.67M+21.4%

Olema Pharmaceuticals, Inc.OLMA

$49.23M+60.8%

ZymeworksZYME

$34.46M-3.6%

Nurix Therapeutics, Inc.NRIX

$84.14M+20.8%

MapLight Therapeutics, Inc. MPLT

$53.68M+171%

Other financials

Income statement

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Revenue$20.0M—

Operating income-$26.6M+25.0%

Net income-$24.2M+26.2%

EPS (diluted)-$0.45+60.9%

Balance sheet

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Cash & equivalents$198.8M-32.5%

Total debt$61.2M+137%

Total equity$341.7M+17.0%

Total assets$419.7M+26.1%

Cash flow

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Operating cash flow-$39.1M-32.5%

CapEx$93.0K-68.9%

Free cash flow-$39.2M-31.5%

Valuation

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Market cap$1.48B+201%

Enterprise value$1.34B—

P/S7.9×—

Profitability

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Operating margin-71.5%—

Net margin-65.4%—

FCF margin-65.1%—

Returns & leverage

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Return on equity-38.7%—

Debt / equity0.2×+0.1×

Current ratio17.9×+1.8×

Where this comes from

Reported directly by MAZE in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The official record: MAZE’s 10-Q, filed May 12, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is MAZE's R&D?: MAZE (MAZE) reported R&D of $34.15M in Q1 2026.
How has MAZE's R&D changed year-over-year?: MAZE's R&D increased by 23.8% year-over-year, from $27.58M to $34.15M.
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.