PRAX revenueQ4 2025$0
- Quarter YoY
- -100.0%
- FY YoY
- -100.0%
PRAX revenue was $0 in fiscal Q4 2025 (ended Dec 31, 2025), down 100.0% from a year earlier. For the full fiscal 2025 it was $0, down 100.0% from fiscal 2024.
Praxis Precision Medicines Inc. (PRAX) financials
For fiscal 2025 (ended Dec 31, 2025), Praxis Precision Medicines Inc. reported $0 of revenue and -$303.27M of net income.
- Revenue, FY2025
- $0
- Revenue growth, YoY
- -100.0%
- Net income, FY2025
- -$303.27M
- Free cash flow, FY2025
- -$249.12M
- EPS, diluted, FY2025
- -$13.48
- Cash
- $474.76M
- Market cap
- $7.75B
FY2022FY2025
FY2019FY2025
FY2019FY2025
PRAX revenue and earnings growth
PRAX net incomeQ2 2026-$83.72M
PRAX net income was -$83.72M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$71.13M a year earlier. For the full fiscal 2025 it was -$303.27M, compared with -$182.82M in fiscal 2024.
PRAX EPSQ2 2026-$2.87
PRAX diluted EPS was -$2.87 in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$3.31 a year earlier. For the full fiscal 2025 it was -$13.48, compared with -$10.21 in fiscal 2024.
PRAX free cash flowQ2 2026-$77.79M
PRAX free cash flow was -$77.79M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$54.73M a year earlier. For the full fiscal 2025 it was -$249.12M, compared with -$131.76M 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 |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $8.55M | $2.45M | $0 | - | - | - |
| Research and development | $267.12M | $152.41M | $86.77M | $155.04M | $120.26M | $44.98M | $29.56M |
| Selling, general and admin | $59.08M | $56.30M | $42.05M | $59.95M | $47.08M | $16.99M | $6.23M |
| Operating income | -$326.20M | -$200.16M | -$126.37M | -$214.99M | -$167.33M | -$61.97M | -$35.79M |
| Pre-tax income | -$302.80M | -$182.74M | -$123.01M | - | -$167.06M | -$61.83M | -$35.60M |
| Income tax | $471.0K | - | - | - | $0 | -$8.0K | -$84.0K |
| Net income | -$303.27M | -$182.82M | -$123.28M | -$214.03M | -$167.06M | -$61.82M | -$35.51M |
| EPS, basic | -$13.48 | -$10.21 | -$18.69 | -$69.65 | -$59.10 | -$117.90 | -$399.00 |
| EPS, diluted | -$13.48 | -$10.21 | -$18.69 | -$69.65 | -$59.10 | -$117.90 | -$399.00 |
| Diluted shares | 22.5M | 17.9M | 6.6M | 3.1M | 2.8M | 596,676.8 | 101,975.267 |
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 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $357.33M | $215.79M | $81.30M | $62.03M | $139.72M | $297.21M | $45.41M |
| Short-term investments | $242.00M | $177.19M | - | - | - | - | - |
| Current assets | $610.91M | $404.37M | $84.88M | $110.84M | $287.41M | $302.33M | $45.50M |
| Total assets | $937.91M | $483.11M | $87.95M | $115.13M | $292.75M | $303.18M | $47.69M |
| Current liabilities | $59.77M | $37.55M | $15.75M | $34.34M | $38.43M | $15.72M | $6.82M |
| Total liabilities | $59.77M | $37.66M | $18.28M | $39.02M | $41.94M | $15.72M | $7.58M |
| Shareholders' equity | $878.14M | $445.45M | $69.67M | $76.11M | $250.81M | $287.46M | -$81.01M |
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 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$249.07M | -$131.76M | -$111.14M | -$185.04M | -$124.55M | -$52.62M | -$33.42M |
| Capital expenditures | $56.0K | $0 | $50.0K | $444.0K | $1.05M | $0 | $103.0K |
| Free cash flow | -$249.12M | -$131.76M | -$111.19M | -$185.49M | -$125.60M | -$52.62M | -$33.52M |
| Investing cash flow | -$311.15M | -$248.49M | $38.95M | $96.89M | -$140.52M | $0 | -$103.0K |
| Financing cash flow | $702.17M | $514.32M | $91.87M | $10.46M | $107.59M | $304.42M | $60.39M |
| Stock-based compensation | $33.94M | $41.36M | $24.86M | $28.59M | $22.69M | $5.21M | $668.0K |
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 |
|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | -100.0% | 249.5% | - | - | - | - | - |
| Operating margin | - | -2340.3% | -5164.4% | - | - | - | - |
| Net margin | - | -2137.5% | -5037.9% | - | - | - | - |
| Free cash flow margin | - | -1540.5% | -4543.8% | - | - | - | - |
| Return on equity | -34.5% | -41.0% | -176.9% | -281.2% | -66.6% | -21.5% | - |
| Return on assets | -32.3% | -37.8% | -140.2% | -185.9% | -57.1% | -20.4% | -74.5% |
| Current ratio | 10.22 | 10.77 | 5.39 | 3.23 | 7.48 | 19.23 | 6.67 |
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 | $7.46M | $302.0K | $357.0K | $431.0K | $515.0K | $468.0K |
| Research and development | $69.42M | $77.99M | $77.51M | $65.80M | $63.01M | $60.81M | $56.29M | $41.88M | $27.26M | $26.98M | $18.39M | $17.26M |
| Selling, general and admin | $27.49M | $27.87M | $19.54M | $12.56M | $13.06M | $13.92M | $15.13M | $15.26M | $10.59M | $15.33M | $9.93M | $8.72M |
| Operating income | -$96.90M | -$105.86M | -$97.04M | -$78.36M | -$76.07M | -$74.73M | -$63.96M | -$56.84M | -$37.49M | -$41.89M | -$27.81M | -$25.52M |
| Net income | -$83.72M | -$92.56M | -$88.91M | -$73.93M | -$71.13M | -$69.30M | -$58.68M | -$51.91M | -$32.68M | -$39.55M | -$26.88M | -$24.63M |
| EPS, basic | -$2.87 | -$3.20 | -$3.52 | -$3.36 | -$3.31 | -$3.29 | - | -$2.75 | -$1.74 | -$2.84 | - | -$2.72 |
| EPS, diluted | -$2.87 | -$3.20 | -$3.52 | -$3.36 | -$3.31 | -$3.29 | - | -$2.75 | -$1.74 | -$2.84 | - | -$2.72 |
| Diluted shares | 29.1M | 28.9M | - | 22.0M | 21.5M | 21.1M | - | 18.9M | 18.8M | 13.9M | - | 9.0M |
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 | $474.76M | $536.33M | $357.33M | $149.53M | $157.41M | $165.57M | $215.79M | $168.65M | $145.14M | $151.98M | $81.30M | $101.08M |
| Short-term investments | $283.79M | $250.53M | $242.00M | - | - | - | $177.19M | - | - | - | - | - |
| Current assets | $771.90M | $797.77M | $610.91M | $273.84M | $306.58M | $333.57M | $404.37M | $360.05M | $356.72M | $211.80M | $84.88M | $103.33M |
| Total assets | $1.39B | $1.46B | $937.91M | $396.39M | $452.83M | $478.74M | $483.11M | $416.26M | $441.06M | $250.41M | $87.95M | $106.72M |
| Current liabilities | $49.06M | $50.24M | $59.77M | $52.88M | $48.61M | $39.52M | $37.55M | $32.86M | $20.62M | $18.79M | $15.75M | $16.79M |
| Total liabilities | $49.06M | $50.24M | $59.77M | $52.88M | $48.61M | $39.52M | $37.66M | $33.59M | $21.96M | $20.73M | $18.28M | $19.97M |
| Shareholders' equity | $1.34B | $1.41B | $878.14M | $343.50M | $404.22M | $439.21M | $445.45M | $382.67M | $419.10M | $229.68M | $69.67M | $86.76M |
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 | -$77.54M | -$86.15M | -$76.33M | -$65.06M | -$54.68M | -$53.01M | -$56.12M | -$27.50M | -$27.28M | -$20.86M | -$23.86M | -$23.21M |
| Capital expenditures | $245.0K | $62.0K | $0 | $0 | $56.0K | $0 | $0 | $0 | - | - | $50.0K | $0 |
| Free cash flow | -$77.79M | -$86.21M | -$76.33M | -$65.06M | -$54.73M | -$53.01M | -$56.12M | -$27.50M | - | - | -$23.91M | -$23.21M |
| Investing cash flow | $10.98M | -$344.27M | -$328.39M | $50.41M | $17.89M | -$51.06M | -$10.92M | $49.57M | -$195.92M | -$91.22M | -$50.0K | $0 |
| Financing cash flow | $4.57M | $609.43M | $612.52M | $6.76M | $28.63M | $54.27M | $113.77M | $1.44M | $216.36M | $182.76M | $4.13M | $0 |
| Stock-based compensation | $11.31M | $17.11M | $9.94M | $7.45M | $7.77M | $8.79M | $8.57M | $12.43M | $5.88M | $14.47M | $5.73M | $5.76M |
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% | -100.0% | 1349.1% | -35.5% | -54.3% | -36.9% | - | - |
| Operating margin | - | - | - | - | - | - | -857.0% | -18819.5% | -10500.8% | -9718.3% | -5399.2% | -5452.1% |
| Net margin | - | - | - | - | - | - | -786.3% | -17188.7% | -9153.2% | -9177.0% | -5219.0% | -5263.2% |
| Free cash flow margin | - | - | - | - | - | - | -752.0% | -9106.0% | - | - | -4642.9% | -4960.5% |
| Current ratio | 15.73 | 15.88 | 10.22 | 5.18 | 6.31 | 8.44 | 10.77 | 10.96 | 17.30 | 11.27 | 5.39 | 6.15 |
Source: XBRL data Praxis Precision Medicines Inc. files with the SEC, latest filing dated Aug 6, 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 and share counts are restated for stock splits the filings show: 1-for-15, first reported Mar 5, 2024.
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.
PRAX peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| PRAX | $0 | -100.0% | -$303.27M | - | $7.75B |
| 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 |
PRAX FAQ
8 questionsWhat is PRAX revenue?
Praxis Precision Medicines Inc. (PRAX) reported $0 of revenue for fiscal 2025 (ended Dec 31, 2025). That is down 100.0% from the year before.Is PRAX profitable?
No. Praxis Precision Medicines Inc. reported a net loss of $303.27M for fiscal 2025 (ended Dec 31, 2025).How much cash and debt does PRAX have?
Praxis Precision Medicines Inc. reported $474.76M in cash and cash equivalents on its most recent balance sheet in SEC filings.How fast is PRAX revenue growing?
Praxis Precision Medicines Inc.'s revenue changed -100.0% in fiscal 2025, to $0.What is PRAX free cash flow?
Praxis Precision Medicines Inc. generated -$249.12M of free cash flow for fiscal 2025 (ended Dec 31, 2025), which is operating cash flow of -$249.07M less capital expenditures.What is PRAX earnings per share?
Diluted earnings per share were -$13.48 for fiscal 2025 (ended Dec 31, 2025), from SEC filings, restated for any stock split those filings show.When did PRAX last report financial results?
The latest statements here come from Praxis Precision Medicines Inc.'s 10-Q filed on Aug 6, 2026, covering the period ended Jun 30, 2026.Where does this PRAX financial data come from?
Quantisnow builds these statements from the structured XBRL data Praxis Precision Medicines Inc. files with the SEC. It is provided for information only and is not investment advice.