FULC revenueQ4 2025$0
- FY YoY
- -100.0%
FULC revenue was $0 in fiscal Q4 2025 (ended Dec 31, 2025), compared with $0 a year earlier. For the full fiscal 2025 it was $0, down 100.0% from fiscal 2024.
Fulcrum Therapeutics Inc. (FULC) financials
For fiscal 2025 (ended Dec 31, 2025), Fulcrum Therapeutics Inc. reported $0 of revenue and -$74.88M of net income.
- Revenue, FY2025
- $0
- Revenue growth, YoY
- -100.0%
- Net income, FY2025
- -$74.88M
- Free cash flow, FY2025
- -$60.38M
- EPS, diluted, FY2025
- -$1.18
- Cash
- $48.47M
- Market cap
- $282.2M
FY2020FY2025
FY2018FY2025
FY2018FY2025
FULC revenue and earnings growth
FULC net incomeQ2 2026-$26.18M
FULC net income was -$26.18M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$17.30M a year earlier. For the full fiscal 2025 it was -$74.88M, compared with -$9.72M in fiscal 2024.
FULC EPSQ2 2026-$0.34
FULC diluted EPS was -$0.34 in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$0.28 a year earlier. For the full fiscal 2025 it was -$1.18, compared with -$0.16 in fiscal 2024.
FULC free cash flowQ2 2026-$16.15M
FULC free cash flow was -$16.15M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$13.88M a year earlier. For the full fiscal 2025 it was -$60.38M, compared with -$2.50M in fiscal 2024.
Income statement
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $80.00M | $2.81M | $6.34M | $19.16M | $8.82M | - | - |
| Research and development | $56.10M | $63.39M | $71.80M | $76.78M | $69.70M | $59.04M | $71.07M | $25.18M |
| Selling, general and admin | $28.67M | $36.45M | $41.67M | $41.69M | $30.52M | $21.39M | $13.14M | $8.31M |
| Operating income | -$84.77M | -$21.90M | -$110.66M | -$112.56M | -$81.05M | -$71.61M | -$84.22M | -$33.50M |
| Income tax | $0 | $0 | - | - | - | - | - | - |
| Net income | -$74.88M | -$9.72M | -$97.33M | -$109.87M | -$80.85M | -$70.82M | -$82.68M | -$32.59M |
| EPS, basic | -$1.18 | -$0.16 | -$1.59 | -$2.44 | -$2.29 | -$2.79 | -$8.13 | -$31.14 |
| EPS, diluted | -$1.18 | -$0.16 | -$1.59 | -$2.44 | -$2.29 | -$2.79 | -$8.13 | -$31.14 |
| Diluted shares | 63,355 | 61,984 | 61,310 | 44,991 | 35,361 | 25,354 | 11,046 | 1,257 |
Balance sheet
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $197.53M | $58.21M | $25.56M | $35.10M | $35.41M | $57.05M | $96.71M | $72.80M |
| Short-term investments | - | - | - | - | - | - | $0 | - |
| Current assets | $357.48M | $249.92M | $242.20M | $207.52M | $226.00M | $119.51M | $100.08M | $74.09M |
| Total assets | $366.28M | $260.72M | $257.69M | $226.69M | $235.00M | $129.58M | $110.44M | $85.77M |
| Current liabilities | $13.05M | $11.04M | $13.68M | $16.73M | $19.20M | $26.73M | $12.14M | $4.23M |
| Total liabilities | $17.28M | $17.68M | $22.50M | $27.74M | $23.46M | $34.40M | $23.29M | $9.77M |
| Shareholders' equity | $349.00M | $243.03M | $235.19M | $198.94M | $211.54M | $95.18M | $87.15M | -$63.67M |
Cash flow
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$60.06M | -$2.22M | -$90.97M | -$97.05M | -$78.48M | -$53.66M | -$39.48M | -$22.56M |
| Capital expenditures | $314.0K | $278.0K | $508.0K | $1.96M | $1.71M | $1.34M | $853.0K | $8.98M |
| Free cash flow | -$60.38M | -$2.50M | -$91.47M | -$99.01M | -$80.19M | -$55.00M | -$40.34M | -$31.54M |
| Investing cash flow | $30.72M | $32.23M | -$36.69M | $12.41M | -$129.67M | -$57.14M | -$944.0K | -$8.98M |
| Financing cash flow | $168.67M | $2.75M | $118.12M | $84.32M | $186.51M | $71.13M | $64.34M | $105.03M |
| Stock-based compensation | $12.47M | $14.55M | $14.80M | $13.35M | $11.07M | $7.35M | $4.22M | $2.16M |
Key ratios
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | -100.0% | 2752.0% | -55.8% | -66.9% | 117.2% | - | - | - |
| Operating margin | - | -27.4% | -3945.2% | -1774.9% | -423.0% | -811.6% | - | - |
| Net margin | - | -12.2% | -3470.1% | -1732.4% | -421.9% | -802.7% | - | - |
| Free cash flow margin | - | -3.1% | -3261.1% | -1561.2% | -418.5% | -623.3% | - | - |
| Return on equity | -21.5% | -4.0% | -41.4% | -55.2% | -38.2% | -74.4% | -94.9% | - |
| Return on assets | -20.4% | -3.7% | -37.8% | -48.5% | -34.4% | -54.7% | -74.9% | -38.0% |
| Current ratio | 27.40 | 22.63 | 17.71 | 12.41 | 11.77 | 4.47 | 8.24 | 17.52 |
Income statement
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | $0 | $0 | $0 | $0 | $0 | $0 | $80.00M | $0 | $871.0K | $759.0K |
| Research and development | $12.44M | $14.08M | $15.42M | $14.30M | $12.99M | $13.40M | $11.71M | $14.64M | $17.26M | $19.77M | $19.00M | $18.24M |
| Selling, general and admin | $7.46M | $8.10M | $7.28M | $7.56M | $6.83M | $7.00M | $7.72M | $8.42M | $10.25M | $10.06M | $9.86M | $9.96M |
| Operating income | -$29.31M | -$22.19M | -$22.69M | -$21.86M | -$19.82M | -$20.40M | -$19.43M | -$25.13M | $52.49M | -$29.83M | -$27.99M | -$27.44M |
| Net income | -$26.18M | -$18.89M | -$20.33M | -$19.59M | -$17.30M | -$17.66M | -$16.57M | -$21.70M | $55.41M | -$26.87M | -$24.76M | -$24.02M |
| EPS, basic | -$0.34 | -$0.25 | - | -$0.31 | -$0.28 | -$0.28 | - | -$0.35 | $0.89 | -$0.43 | - | -$0.39 |
| EPS, diluted | -$0.34 | -$0.25 | - | -$0.31 | -$0.28 | -$0.28 | - | -$0.35 | $0.87 | -$0.43 | - | -$0.39 |
| Diluted shares | 76.3M | 76.2M | - | 62.6M | 62.5M | 62.5M | - | 62.4M | 63.6M | 62.0M | - | 61.8M |
Balance sheet
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $48.47M | $50.26M | $197.53M | $47.08M | $42.59M | $42.18M | $58.21M | $72.63M | $86.70M | $39.95M | $25.56M | $30.08M |
| Current assets | $322.85M | $338.67M | $357.48M | $205.86M | $219.37M | $232.56M | $249.92M | $267.49M | $280.29M | $217.95M | $242.20M | $262.49M |
| Total assets | $323.95M | $346.77M | $366.28M | $214.86M | $228.84M | $242.65M | $260.72M | $279.01M | $294.26M | $232.59M | $257.69M | $278.88M |
| Current liabilities | $10.30M | $9.86M | $13.05M | $11.63M | $8.98M | $8.10M | $11.04M | $14.51M | $12.70M | $10.69M | $13.68M | $14.07M |
| Total liabilities | $13.26M | $13.47M | $17.28M | $16.49M | $14.46M | $14.16M | $17.68M | $21.72M | $20.47M | $19.00M | $22.50M | $23.42M |
| Shareholders' equity | $310.70M | $333.30M | $349.00M | $198.37M | $214.38M | $228.49M | $243.03M | $257.29M | $273.79M | $213.59M | $235.19M | $255.46M |
Cash flow
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$16.04M | -$18.75M | -$16.80M | -$14.19M | -$13.82M | -$15.26M | -$16.76M | -$19.07M | $58.90M | -$25.28M | -$23.16M | -$22.91M |
| Capital expenditures | $108.0K | $8.0K | $159.0K | $90.0K | $65.0K | $0 | $231.0K | $19.0K | $0 | $28.0K | $77.0K | $65.0K |
| Free cash flow | -$16.15M | -$18.76M | -$16.96M | -$14.28M | -$13.88M | -$15.26M | -$16.99M | -$19.09M | $58.90M | -$25.31M | -$23.23M | -$22.97M |
| Investing cash flow | $13.78M | -$128.21M | -$1.05M | $18.61M | $13.93M | -$777.0K | $2.26M | $4.35M | -$12.51M | $38.13M | $18.35M | $19.02M |
| Financing cash flow | $356.0K | -$312.0K | $168.30M | $64.0K | $301.0K | $0 | $83.0K | $635.0K | $377.0K | $1.65M | $287.0K | $0 |
| Stock-based compensation | $3.27M | $3.86M | $3.07M | $3.36M | $2.88M | $3.17M | $2.48M | $3.82M | $4.34M | $3.92M | $3.45M | $3.74M |
Key ratios
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | - | - | - | - | -100.0% | - | -100.0% | -100.0% | 8990.9% | -100.0% | 27.2% | -35.8% |
| Operating margin | - | - | - | - | - | - | - | - | 65.6% | - | -3213.8% | -3615.3% |
| Net margin | - | - | - | - | - | - | - | - | 69.3% | - | -2842.3% | -3164.3% |
| Free cash flow margin | - | - | - | - | - | - | - | - | 73.6% | - | -2667.6% | -3026.5% |
| Current ratio | 31.35 | 34.33 | 27.40 | 17.70 | 24.42 | 28.71 | 22.63 | 18.44 | 22.07 | 20.38 | 17.71 | 18.65 |
Source: XBRL data Fulcrum Therapeutics Inc. files with the SEC, latest filing dated Jul 30, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
FULC peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| FULC | $0 | -100.0% | -$74.88M | - | $282.2M |
| LLY | $86.46B | +45.5% | $27.58B | 31.9% | $1.27T |
| JNJ | $99.33B | +7.8% | $16.09B | 16.2% | $664.95B |
| ABBV | $66.01B | +10.7% | $10.34B | 15.7% | $514.92B |
| MRK | $67.38B | +4.9% | $2.45B | 3.6% | $361.71B |
| NVS | $54.53B | +8.4% | $13.98B | 25.6% | $310.17B |
| AZN | $58.74B | +8.6% | $10.22B | 17.4% | $289.10B |
| ABT | $48.23B | +10.0% | $4.70B | 9.7% | $190.39B |
| NVO | DKK 309.06B | +6.4% | DKK 102.43B | 33.1% | $178.51B |
FULC FAQ
8 questionsWhat is FULC revenue?
Fulcrum Therapeutics Inc. (FULC) reported $0 of revenue for fiscal 2025 (ended Dec 31, 2025). That is down 100.0% from the year before.Is FULC profitable?
No. Fulcrum Therapeutics Inc. reported a net loss of $74.88M for fiscal 2025 (ended Dec 31, 2025).How much cash and debt does FULC have?
Fulcrum Therapeutics Inc. reported $48.47M in cash and cash equivalents on its most recent balance sheet in SEC filings.How fast is FULC revenue growing?
Fulcrum Therapeutics Inc.'s revenue changed -100.0% in fiscal 2025, to $0.What is FULC free cash flow?
Fulcrum Therapeutics Inc. generated -$60.38M of free cash flow for fiscal 2025 (ended Dec 31, 2025), which is operating cash flow of -$60.06M less capital expenditures.What is FULC earnings per share?
Diluted earnings per share were -$1.18 for fiscal 2025 (ended Dec 31, 2025), from SEC filings, restated for any stock split those filings show.When did FULC last report financial results?
The latest statements here come from Fulcrum Therapeutics Inc.'s 10-Q filed on Jul 30, 2026, covering the period ended Jun 30, 2026.Where does this FULC financial data come from?
Quantisnow builds these statements from the structured XBRL data Fulcrum Therapeutics Inc. files with the SEC. It is provided for information only and is not investment advice.