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Financials · XFOR

X4 Pharmaceuticals Inc. (XFOR) financials

For the twelve months ended Sep 30, 2026, X4 Pharmaceuticals Inc. reported $16.96M of revenue and -$80.52M of net income.

Revenue, TTM
$16.96M
Revenue growth, YoY
-50.1%
Net income, TTM
-$80.52M
Net margin
-474.7%
Cash
$185.80M
Total debt
$75.00M
P/S
19.11
Market cap
$324.2M
Annual revenue$35.11M
FY2018FY2025
Annual net income-$79.20M
FY2016FY2025
Annual free cash flow-$85.62M
FY2016FY2025

XFOR revenue and earnings growth

XFOR revenueQ3 2026$2.88M

Quarter YoY
+63.1%
QoQ
-67.3%
FY YoY
14x
5Y CAGR
+63.6%

XFOR revenue was $2.88M in fiscal Q3 2026 (ended Sep 30, 2026), up 63.1% from a year earlier and down 67.3% from the prior quarter. For the full fiscal 2025 it was $35.11M, up about 14-fold from fiscal 2024. Compound annual growth was +63.6% over 5 years. Fiscal 2025 is the highest of the 8 fiscal years on file.

XFOR net incomeQ3 2026-$20.20M

XFOR net income was -$20.20M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$29.82M a year earlier. For the full fiscal 2025 it was -$79.20M, compared with -$37.45M in fiscal 2024.

XFOR EPSQ3 2026-$0.16

XFOR diluted EPS was -$0.16 in fiscal Q3 2026 (ended Sep 30, 2026). For the full fiscal 2025 it was -$1.87.

XFOR free cash flowQ4 2025-$15.53M

XFOR free cash flow was -$15.53M in fiscal Q4 2025 (ended Dec 31, 2025), compared with -$33.04M a year earlier. For the full fiscal 2025 it was -$85.62M, compared with -$131.23M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$35.11M$2.60M$0$0$0$3.00M$0$0--
Cost of revenue$5.76M$797.0K$0$0------
Gross profit$29.36M$1.80M$0$0------
Research and development$72.72M$81.64M$72.02M$61.06M$50.65M$41.93M$30.16M$20.35M$17.07M$17.83M
Selling, general and admin$43.52M$61.52M$35.51M$27.02M$24.70M$20.94M$17.64M$8.74M$5.18M$6.51M
Operating income-$86.88M-$36.40M-$107.52M-$87.57M-$85.11M-$59.87M-$51.70M-$29.09M-$22.25M-$24.35M
Interest expense$8.88M$8.77M$5.78M$3.99M$3.64M$2.69M$2.15M$720.0K$490.0K$2.52M
Pre-tax income-$79.16M-$37.14M-$101.09M-$93.84M-$88.68M-$61.98M-$52.81M-$33.28M-$21.99M-$22.98M
Income tax$41.0K$310.0K$78.0K$28.0K$17.0K$148.0K$0$0--
Net income-$79.20M-$37.45M-$101.17M-$93.87M-$88.70M-$62.13M-$52.81M-$33.28M-$21.99M-$22.98M
EPS, basic-$1.87-$5.59-$17.07-$45.60-$119.70-$92.70-$138.90-$2374.50-$1637.40-$1343.70
EPS, diluted-$1.87-$5.59-$17.07-$45.60-$119.70-$92.70-$138.90-$2374.50-$1637.40-$1343.70
Diluted shares42.3M6.7M5.9M2.1M858,293.233669,233.333384,333.33315,30015,266.66717,117.567

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$217.05M$56.48M$100.25M$123.03M$83.11M$80.70M$128.09M$8.13M$26.68M$15.16M
Receivables$573.0K$1.07M$0---$0---
Inventory-$2.82M$0-------
Current assets$261.58M$112.17M$122.08M$128.68M$87.88M$83.31M$129.28M$9.34M$79.53M-
Goodwill$17.35M$17.35M$17.35M$17.35M$17.35M$27.11M$27.11M$0--
Total assets$290.46M$146.45M$147.26M$155.59M$117.18M$122.87M$160.70M$9.94M$81.25M-
Current liabilities$25.76M$32.88M$22.86M$22.32M$14.02M$11.95M$9.45M$7.91M$10.68M-
Short-term debt--$0$1.31M$795.0K$0$0$1.69M--
Long-term debt--$54.57M$32.30M$33.14M$33.18M$20.00M$8.31M--
Total debt$75.00M$75.00M$54.57M$33.62M$33.93M$33.18M$20.00M$10.00M--
Total liabilities$104.17M$124.30M$96.16M$81.53M$52.76M$50.07M$31.48M$21.62M$22.55M-
Shareholders' equity$186.29M$22.15M$51.10M$74.05M$64.41M$72.80M$129.22M-$77.09M-$44.55M-$23.05M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow-$85.62M-$130.90M-$96.51M-$77.10M-$70.91M-$58.82M-$48.05M-$25.42M-$21.31M-$21.64M
Capital expenditures$0$326.0K$60.0K$103.0K$615.0K$1.36M$174.0K$0$378.0K$73.0K
Free cash flow-$85.62M-$131.23M-$96.57M-$77.20M-$71.52M-$60.18M-$48.23M-$25.42M-$21.69M-$21.71M
Investing cash flow$8.15M$66.99M-$14.88M-$103.0K-$615.0K-$1.36M$27.23M$0-$378.0K-$73.0K
Financing cash flow$238.63M$20.29M$88.52M$117.23M$74.25M$12.39M$140.66M$6.87M$33.42M$18.15M
Share repurchases--$0$0$2.00M$0$0---
Stock-based compensation$4.30M$8.20M$8.69M$5.20M$6.18M$5.43M$2.05M$759.0K$492.0K$644.0K
Depreciation and amortization$1.28M$796.0K$419.0K$513.0K$499.0K$351.0K$103.0K$103.0K$71.0K$285.0K

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY1250.5%----100.0%-----
Gross margin83.6%69.3%--------
Operating margin-247.4%-1400.0%----1995.8%----
Net margin-225.6%-1440.4%----2071.0%----
Free cash flow margin-243.8%-5047.2%----2006.0%----
Return on equity-42.5%-169.1%-198.0%-126.8%-137.7%-85.3%-40.9%---
Return on assets-27.3%-25.6%-68.7%-60.3%-75.7%-50.6%-32.9%-334.7%-27.1%-
Current ratio10.163.415.345.766.276.9713.681.187.45-
Debt to equity0.403.391.070.450.530.460.15---

Source: XBRL data X4 Pharmaceuticals Inc. files with the SEC, latest filing dated Nov 4, 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-30, first reported May 1, 2025.

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.

XFOR peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
XFOR$16.96M-50.1%-$80.52M-474.7%$324.2M
AMGN$38.90B+8.2%$9.39B24.1%$249.05B
GILD$30.99B+6.5%-$3.86B-12.5%$207.00B
MRNA$2.52B+13.1%-$2.79B-110.5%$101.48B
ARGX$4.25B+88.6%$1.29B30.4%$57.55B
RVMD$0--$1.13B-$41.59B
BIIB$10.30B+2.3%$347.50M3.4%$36.71B
BNTX€2.87B+4.3%-€1.14B-39.6%$21.98B
EXEL$2.50B+9.1%$885.14M35.5%$16.98B

XFOR FAQ

7 questions
  • What is XFOR revenue?
    X4 Pharmaceuticals Inc. (XFOR) reported $16.96M of revenue for the twelve months ended Sep 30, 2026. That is down 50.1% from the year before. Revenue for fiscal 2025 was $35.11M.
  • Is XFOR profitable?
    No. X4 Pharmaceuticals Inc. reported a net loss of $80.52M for the twelve months ended Sep 30, 2026.
  • How much cash and debt does XFOR have?
    X4 Pharmaceuticals Inc. reported $185.80M in cash and cash equivalents and $75.00M of debt on its most recent balance sheet in SEC filings.
  • How fast is XFOR revenue growing?
    X4 Pharmaceuticals Inc.'s revenue changed 14x in fiscal 2025, to $35.11M. Its compound annual growth rate was +63.6% over 5 years.
  • What is XFOR gross margin?
    X4 Pharmaceuticals Inc.'s gross profit was $13.87M on $16.96M of revenue for the twelve months ended Sep 30, 2026, a gross margin of 81.8%.
  • When did XFOR last report financial results?
    The latest statements here come from X4 Pharmaceuticals Inc.'s 10-Q filed on Nov 4, 2026, covering the period ended Sep 30, 2026.
  • Where does this XFOR financial data come from?
    Quantisnow builds these statements from the structured XBRL data X4 Pharmaceuticals Inc. files with the SEC. It is provided for information only and is not investment advice.