CRNX

MKT CAP:$4B

Crinetics Pharmaceuticals, Inc.

Market Cap

$4B

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$38.90-$7.83 (-16.76%)

Apr 21, 2026

Company Details

Crinetics Pharmaceuticals, Inc., a clinical stage pharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for rare endocrine diseases and endocrine-related tumors. Its lead product candidate is P...

CEO

R. Scott Struthers

IPO Date

Jul 18, 2018

Website

www.crinetics.com

Key Metrics TTM

Revenue

$5M

+421.7% YoY

Net Income

-$465M

EPS (Diluted)

-$4.95

Free Cash Flow

-$384M

Revenue / Share

$0.06

Gross Margin

108.5%

Operating Margin

-9534.5%

Net Margin

-8585.2%

FCF Margin

-7079.0%

P/S

740.9x

P/E

—

Earnings Reports

Q1 2026

May 7, 2026

PENDING

FY 2025

Feb 26, 2026

$8M+640.7%EPS -$4.95

Q4 2025

Feb 26, 2026

$4MEPS -$1.30

Q3 2025

Nov 6, 2025

$143.0KEPS -$1.38

Q2 2025

Aug 7, 2025

$1M+158.4%EPS -$1.23

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$3M	$3M	-$34M
Q2 22	$439.0K	$439.0K	-$43M
Q3 22	$458.0K	$458.0K	-$43M
Q4 22	$709.0K	$709.0K	-$48M
Q1 23	$3M	$3M	-$48M
Q2 23	$988.0K	$988.0K	-$53M
Q3 23	$346.0K	$346.0K	-$59M
Q4 23	$0	$0	-$63M
Q1 24	$640.0K	$640.0K	-$74M
Q2 24	$399.0K	$399.0K	-$83M
Q3 24	$0	$0	-$88M
Q4 24	$0	$0	-$95M
Q1 25	$361.0K	$361.0K	-$111M
Q2 25	$1M	$1M	-$129M
Q3 25	$143.0K	$143.0K	-$143M
Q4 25	$4M	$4M	-$134M

Valuation

Quarter	P/S	P/E
Q1 22	214.7x	—
Q2 22	210.1x	—
Q3 22	199.2x	—
Q4 22	190.3x	—
Q1 23	212.0x	—
Q2 23	212.0x	—
Q3 23	385.9x	—
Q4 23	647.6x	—
Q1 24	1862.3x	—
Q2 24	2664.1x	—
Q3 24	4499.8x	—
Q4 24	4462.0x	—
Q1 25	4139.1x	—
Q2 25	1946.6x	—
Q3 25	2670.6x	—
Q4 25	826.0x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$14M	-$14M
Q2 22	-$28M	-$29M
Q3 22	-$38M	-$39M
Q4 22	-$35M	-$35M
Q1 23	-$41M	-$41M
Q2 23	-$46M	-$46M
Q3 23	-$41M	-$45M
Q4 23	-$39M	-$39M
Q1 24	-$53M	-$54M
Q2 24	-$48M	-$49M
Q3 24	-$61M	-$61M
Q4 24	-$65M	-$66M
Q1 25	-$88M	-$90M
Q2 25	-$86M	-$89M
Q3 25	-$111M	-$112M
Q4 25	-$93M	-$93M

Capital Expenditures

Quarter	CapEx
Q1 22	$87.0K
Q2 22	$613.0K
Q3 22	$682.0K
Q4 22	$274.0K
Q1 23	$16.0K
Q2 23	$237.0K
Q3 23	$4M
Q4 23	$935.0K
Q1 24	$1M
Q2 24	$955.0K
Q3 24	$528.0K
Q4 24	$1M
Q1 25	$1M
Q2 25	$3M
Q3 25	$863.0K
Q4 25	$458.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	—	+61.3%
Q2 22	—	+66.7%
Q3 22	—	+57.9%
Q4 22	-34.2%	+51.0%
Q1 23	-14.4%	+37.1%
Q2 23	+125.1%	+24.1%
Q3 23	-24.5%	+35.1%
Q4 23	-100.0%	+29.8%
Q1 24	-76.1%	+46.4%
Q2 24	-59.6%	+54.1%
Q3 24	-100.0%	+48.0%
Q4 24	—	+51.2%
Q1 25	-43.6%	+50.7%
Q2 25	+158.4%	+56.5%
Q3 25	—	+62.6%
Q4 25	—	+45.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$0	0.0%
Q2 22	$0	0.0%
Q3 22	$7M	1623.1%
Q4 22	$0	0.0%
Q1 23	$0	0.0%
Q2 23	$10M	1029.9%
Q3 23	$11M	3193.4%
Q4 23	$12M	—
Q1 24	$13M	2102.2%
Q2 24	$19M	4746.9%
Q3 24	$18M	—
Q4 24	$19M	—
Q1 25	$20M	5672.6%
Q2 25	$26M	2533.9%
Q3 25	$23M	15875.5%
Q4 25	$22M	559.1%

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q1 22	$28M	$9M	—
Q2 22	$33M	$10M	—
Q3 22	$32M	$12M	—
Q4 22	$37M	$11M	—
Q1 23	$38M	$12M	—
Q2 23	$41M	$13M	—
Q3 23	$44M	$15M	—
Q4 23	$46M	$17M	—
Q1 24	$53M	$21M	—
Q2 24	$58M	$25M	—
Q3 24	$62M	$26M	—
Q4 24	$67M	$28M	—
Q1 25	$76M	$36M	—
Q2 25	$80M	$50M	—
Q3 25	$90M	$52M	—
Q4 25	$85M	—	$54M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$146M	$174M	$320M
Q2 22	$62M	$346M	$409M
Q3 22	$31M	$337M	$368M
Q4 22	$33M	$302M	$334M
Q1 23	$41M	$255M	$296M
Q2 23	$40M	$225M	$265M
Q3 23	$143M	$412M	$555M
Q4 23	$55M	$504M	$559M
Q1 24	$396M	$505M	$901M
Q2 24	$302M	$561M	$863M
Q3 24	$317M	$545M	$863M
Q4 24	$265M	$1.1B	$1.4B
Q1 25	$95M	$1.2B	$1.3B
Q2 25	$54M	$1.1B	$1.2B
Q3 25	$111M	$981M	$1.1B
Q4 25	$102M	$926M	$1.0B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	48M	+5.5%	+44.5%
Q2 22	53M	+10.1%	+41.7%
Q3 22	54M	+2.4%	+40.4%
Q4 22	54M	+0.1%	+19.0%
Q1 23	54M	+0.1%	+13.0%
Q2 23	54M	+0.7%	+3.3%
Q3 23	57M	+4.7%	+5.7%
Q4 23	67M	+18.2%	+24.7%
Q1 24	72M	+7.7%	+34.1%
Q2 24	79M	+9.3%	+45.6%
Q3 24	80M	+1.4%	+41.0%
Q4 24	91M	+14.2%	+36.3%
Q1 25	93M	+1.8%	+28.8%
Q2 25	94M	+0.7%	+18.7%
Q3 25	94M	+0.5%	+17.6%
Q4 25	94M	-0.2%	+2.8%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$21.9K	143
Q2 22	$3.1K	143
Q3 22	$3.2K	143
Q4 22	$3.4K	210
Q1 23	$12.8K	210
Q2 23	$4.7K	210
Q3 23	$1.6K	210
Q4 23	$0	27K
Q1 24	$24	27K
Q2 24	$15	27K
Q3 24	$0	27K
Q4 24	$0	437
Q1 25	$826	437
Q2 25	$2.4K	437
Q3 25	$327	437
Q4 25	$108	36K

Revenue / Employee