What is Relay Therapeutics, Inc.'s R&D?

Relay Therapeutics, Inc. (RLAY) reported R&D of $70.56M in Q1 2026.

How has Relay Therapeutics, Inc.'s R&D changed year-over-year?

Relay Therapeutics, Inc.'s R&D decreased by 4.4% year-over-year, from $73.81M to $70.56M.

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

Over 4 years (2021 to 2025), Relay Therapeutics, Inc.'s R&D has grown at a 10.9% compound annual growth rate (CAGR), from $172.65M to $261.38M.

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

Relay Therapeutics, Inc. RLAY R&D

R&D at other companies

CelcuityCELC

$33.06M+11.1%

Revolution Medicines, Inc.RVMD

$343.97M+67.2%

Ligand PharmaceuticalsLGND

$2.15M-95.7%

Cogent Biosciences, Inc.COGT

$75.37M+19.6%

Tango TherapeuticsTNGX

$33.53M-8.0%

Spyre Therapeutics, Inc.SYRE

$60.41M+45.1%

Other financials

Income statement

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Revenue$3.0M-60.9%

Operating income-$78.6M+7.4%

Net income-$73.3M+4.9%

EPS (diluted)-$0.41+10.9%

Balance sheet

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Cash & equivalents$204.6M+119%

Total debt$31.6M-33.1%

Total equity$642.2M-10.9%

Total assets$699.6M-12.5%

Cash flow

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Operating cash flow-$51.1M+30.2%

CapEx$1.0K—

Free cash flow-$44.9M+22.5%

Valuation

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Market cap$3.46B+300%

Enterprise value$3.29B+304%

P/S324.1×+212×

Profitability

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Operating margin-2,776.6%-820pp

Net margin-2,554.1%-745pp

FCF margin-1,536%-429pp

Returns & leverage

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Return on equity-40%-4.3pp

Debt / equity0×0.0×

Current ratio22.1×+2.2×

Where this comes from

Reported directly by Relay Therapeutics, Inc. in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost.

The official record: Relay Therapeutics, Inc.’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Relay Therapeutics, Inc.'s R&D?: Relay Therapeutics, Inc. (RLAY) reported R&D of $70.56M in Q1 2026.
How has Relay Therapeutics, Inc.'s R&D changed year-over-year?: Relay Therapeutics, Inc.'s R&D decreased by 4.4% year-over-year, from $73.81M to $70.56M.
What is the long-term trend for Relay Therapeutics, Inc.'s R&D?: Over 4 years (2021 to 2025), Relay Therapeutics, Inc.'s R&D has grown at a 10.9% compound annual growth rate (CAGR), from $172.65M to $261.38M.
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.