Relay Therapeutics (RLAY) Financial Statements & Analysis

Relay Therapeutics (RLAY) Income Statement

Relay Therapeutics reported revenue of $15.36M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 53.4% from $10.01M a year earlier. Relay Therapeutics posted a net loss of $276.48M, compared with a net loss of $337.71M a year earlier. Gross margin was 76.8% and operating margin -1971.6%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $350.00K, down 48.3% from the same quarter a year earlier.

Relay Therapeutics Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Relay Therapeutics, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018
Revenue & Gross Profit
Revenue	15.36	10.01	25.55	1.38	3.03	82.65	0.00	0.00
Cost of Revenue	3.56	315.44	326.39	243.01	169.39	3.55	2.85	2.15
Gross Profit	11.80	-305.43	-300.84	-241.62	3.03	79.11	-2.85	-2.15
Operating Expenses
Research & Development	261.38	319.09	330.02	246.36	295.65	99.86	70.31	41.03
Selling, General & Administrative	56.71	80.24	78.58	69.33	59.75	38.59	13.74	8.86
Operating Expenses	318.09	67.03	72.16	57.65	367.73	134.90	84.05	49.89
Operating Income	-302.74	-372.47	-373.00	-299.28	-364.70	-55.80	-84.05	-49.89
Other Income/Expense
Interest Income	27.04	34.75	31.05	8.79	0.83	3.40	8.80	1.11
Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Income/Expense	-0.78	34.76	31.03	8.77	0.83	3.38	8.74	1.10
Income
Income Before Tax	-276.48	-337.71	-341.97	-290.51	-363.87	-52.41	-75.31	-48.79
Income Tax Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Income	-276.48	-337.71	-341.97	-290.51	-363.87	-52.41	-66.50	-48.79
Net Income - Continuous Operations	-276.48	-337.71	-341.97	-290.51	-363.87	-52.41	-66.50	-48.79
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-
EBITDA	-299.18	-380.21	-374.15	-306.82	-222.18	-52.25	-81.20	-47.74
EBIT	-302.74	-385.67	-379.42	-310.95	-226.11	-55.80	-	-
Depreciation & Amortization	3.56	5.46	5.27	4.13	3.93	3.55	2.85	2.15
Earnings Per Share
Basic EPS	-2.00	-2.00	-3.00	-3.00	-4.00	-3.00	-16.00	-20.00
Diluted EPS	-2.00	-2.00	-3.00	-3.00	-4.00	-3.00	-16.00	-20.00
Basic Shares Outstanding	171.59	142.87	122.58	112.23	95.14	90.05	4.28	2.49
Diluted Shares Outstanding	171.59	142.87	122.58	112.23	95.14	90.19	4.28	2.49

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Relay Therapeutics Financial Statements

What was Relay Therapeutics's revenue in fiscal 2025?

Relay Therapeutics reported revenue of $15.36M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 53.4% from $10.01M a year earlier.

Is Relay Therapeutics profitable?

No. Relay Therapeutics reported a net loss of $276.48M in fiscal 2025. In fiscal 2024 it lost $337.71M.

What is Relay Therapeutics's operating margin?

Relay Therapeutics's operating income was −$302.74M on revenue of $15.36M in fiscal 2025, an operating margin of -1971.6%, compared with -3722.1% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition