MBX net incomeQ3 2026-$62.42M
MBX net income was -$62.42M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$21.62M a year earlier. For the full fiscal 2025 it was -$86.97M, compared with -$61.92M in fiscal 2024.
MBX Biosciences Inc. (MBX) financials
For the twelve months ended Sep 30, 2026, MBX Biosciences Inc. reported -$145.09M of net income.
- Net income, TTM
- -$145.09M
- Free cash flow, TTM
- -$99.33M
- EPS, diluted, TTM
- -$3.03
- Cash
- $161.69M
- Market cap
- $2.60B
FY2023FY2025
FY2023FY2025
MBX revenue and earnings growth
MBX EPSQ3 2026-$1.29
MBX diluted EPS was -$1.29 in fiscal Q3 2026 (ended Sep 30, 2026). For the full fiscal 2025 it was -$2.38.
MBX free cash flowQ3 2026-$36.07M
MBX free cash flow was -$36.07M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$21.93M a year earlier. For the full fiscal 2025 it was -$81.88M, compared with -$55.55M in fiscal 2024.
Income statement
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 |
|---|---|---|---|
| Research and development | $79.16M | $57.41M | $28.53M |
| Selling, general and admin | $18.90M | $10.78M | $6.78M |
| Operating income | -$98.06M | -$68.19M | -$35.31M |
| Pre-tax income | -$87.00M | -$61.90M | - |
| Income tax | $0 | $0 | $0 |
| Net income | -$86.97M | -$61.92M | -$32.56M |
| EPS, basic | -$2.38 | -$5.82 | -$31.96 |
| EPS, diluted | -$2.38 | -$5.82 | -$31.96 |
| Diluted shares | 36.5M | 10.6M | 1.0M |
Balance sheet
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 |
|---|---|---|---|
| Cash and equivalents | $75.29M | $49.35M | $30.52M |
| Short-term investments | $298.42M | $212.80M | $50.15M |
| Current assets | $381.54M | $267.29M | $83.47M |
| Total assets | $385.14M | $268.54M | $84.18M |
| Current liabilities | $15.49M | $11.05M | $3.93M |
| Total liabilities | $15.92M | $11.09M | $4.29M |
| Shareholders' equity | $369.22M | $257.44M | -$72.47M |
Cash flow
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 |
|---|---|---|---|
| Operating cash flow | -$79.95M | -$54.68M | -$31.98M |
| Capital expenditures | $1.93M | $874.0K | $129.0K |
| Free cash flow | -$81.88M | -$55.55M | -$32.11M |
| Investing cash flow | -$83.70M | -$160.59M | -$30.93M |
| Financing cash flow | $189.59M | $234.10M | $69.22M |
| Stock-based compensation | $8.68M | $5.22M | $2.04M |
Key ratios
Income statement
| Line item | Sep 30, 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Research and development | $32.05M | $30.98M | $18.47M | $19.76M | $19.27M | $17.72M | $22.41M | $15.22M | $16.75M | $14.40M | $11.05M | $7.73M |
| Selling, general and admin | $34.30M | $9.95M | $8.79M | $6.04M | $4.66M | $4.08M | $4.12M | $3.39M | $2.87M | $2.26M | $2.27M | $2.26M |
| Operating income | -$66.34M | -$40.93M | -$27.27M | -$25.80M | -$23.93M | -$21.80M | -$26.53M | -$18.61M | -$19.61M | -$16.66M | -$13.31M | -$9.99M |
| Net income | -$62.42M | -$37.09M | -$23.52M | -$22.06M | -$21.62M | -$19.41M | -$23.88M | -$15.59M | -$18.14M | -$15.86M | -$12.34M | -$8.84M |
| EPS, basic | -$1.29 | -$0.78 | -$0.50 | -$0.46 | -$0.63 | -$0.58 | -$0.71 | - | -$2.78 | -$12.62 | -$10.26 | - |
| EPS, diluted | -$1.29 | -$0.78 | -$0.50 | -$0.46 | -$0.63 | -$0.58 | -$0.71 | - | -$2.78 | -$12.62 | -$10.26 | - |
| Diluted shares | 48.6M | 47.7M | 46.6M | - | 34.2M | 33.4M | 33.4M | - | 6.5M | 1.3M | 1.2M | - |
Balance sheet
| Line item | Sep 30, 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $161.69M | $54.12M | $45.21M | $75.29M | $223.13M | $39.78M | $29.90M | $49.35M | $132.87M | - | - | $30.52M |
| Short-term investments | $319.90M | $364.46M | $394.76M | $298.42M | $168.55M | $185.13M | $210.88M | $212.80M | $144.20M | - | - | $50.15M |
| Current assets | $492.76M | $427.86M | $448.54M | $381.54M | $397.50M | $229.19M | $244.28M | $267.29M | $281.17M | - | - | $83.47M |
| Total assets | $500.62M | $435.91M | $452.70M | $385.14M | $400.08M | $231.52M | $245.93M | $268.54M | $282.40M | - | - | $84.18M |
| Current liabilities | $25.17M | $23.66M | $14.57M | $15.49M | $12.06M | $11.76M | $10.48M | $11.05M | $10.92M | - | - | $3.93M |
| Total liabilities | $27.67M | $26.37M | $14.95M | $15.92M | $12.54M | $12.28M | $10.50M | $11.09M | $11.03M | - | - | $4.29M |
| Shareholders' equity | $472.95M | $409.54M | $437.76M | $369.22M | $387.54M | $219.24M | $235.42M | $257.44M | $271.37M | -$97.89M | -$83.05M | -$72.47M |
Cash flow
| Line item | Sep 30, 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$34.88M | -$22.62M | -$20.21M | -$18.30M | -$21.54M | -$17.43M | -$22.68M | -$16.04M | -$14.66M | -$13.27M | -$10.71M | -$11.15M |
| Capital expenditures | $1.19M | $901.0K | $437.0K | $793.0K | $399.0K | $707.0K | $30.0K | $92.0K | $57.0K | $452.0K | $273.0K | $55.0K |
| Free cash flow | -$36.07M | -$23.52M | -$20.64M | -$19.09M | -$21.93M | -$18.14M | -$22.71M | -$16.13M | -$14.72M | -$13.72M | -$10.98M | -$11.20M |
| Investing cash flow | $42.83M | $29.21M | -$97.10M | -$129.97M | $17.06M | $25.99M | $3.23M | -$67.34M | -$100.79M | -$7.89M | $15.43M | -$28.95M |
| Financing cash flow | $99.61M | $2.32M | $87.44M | $438.0K | $187.82M | $1.33M | $4.0K | -$132.0K | $235.81M | -$1.76M | $183.0K | $19.0K |
| Stock-based compensation | $27.55M | $6.06M | $5.48M | $2.66M | $2.25M | $1.94M | $1.84M | $1.49M | $1.19M | $919.0K | $1.62M | $1.02M |
Key ratios
| Line item | Sep 30, 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 19.58 | 18.08 | 30.79 | 24.62 | 32.95 | 19.50 | 23.31 | 24.19 | 25.75 | - | - | 21.26 |
Source: XBRL data MBX Biosciences Inc. files with the SEC, latest filing dated Nov 9, 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.
MBX peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| MBX | - | - | -$145.09M | - | $2.60B |
| LLY | $86.46B | +45.5% | $27.58B | 31.9% | $1.33T |
| JNJ | $99.33B | +7.8% | $16.09B | 16.2% | $679.13B |
| ABBV | $66.01B | +10.7% | $10.34B | 15.7% | $518.44B |
| MRK | $67.38B | +4.9% | $2.45B | 3.6% | $366.73B |
| NVS | $54.53B | +8.4% | $13.98B | 25.6% | $312.35B |
| AZN | $58.74B | +8.6% | $10.22B | 17.4% | $293.69B |
| ABT | $48.23B | +10.0% | $4.70B | 9.7% | $191.40B |
| NVO | DKK 309.06B | +6.4% | DKK 102.43B | 33.1% | $183.23B |
MBX FAQ
6 questionsIs MBX profitable?
No. MBX Biosciences Inc. reported a net loss of $145.09M for the twelve months ended Sep 30, 2026.How much cash and debt does MBX have?
MBX Biosciences Inc. reported $161.69M in cash and cash equivalents on its most recent balance sheet in SEC filings.What is MBX free cash flow?
MBX Biosciences Inc. generated -$99.33M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of -$96.01M less capital expenditures.What is MBX earnings per share?
Diluted earnings per share were -$3.03 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.When did MBX last report financial results?
The latest statements here come from MBX Biosciences Inc.'s 10-Q filed on Nov 9, 2026, covering the period ended Sep 30, 2026.Where does this MBX financial data come from?
Quantisnow builds these statements from the structured XBRL data MBX Biosciences Inc. files with the SEC. It is provided for information only and is not investment advice.