DYN

MKT CAP:$3B

Dyne Therapeutics, Inc.

Market Cap

$3B

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$20.08+$1.58 (+8.54%)

Apr 20, 2026

Company Details

Dyne Therapeutics, Inc., a muscle disease company, operates as a biotechnology company that focuses on advancing therapeutics for genetically driven muscle diseases in the United States. It develops various programs for myotonic dystrophy t...

CEO

John G. Cox

IPO Date

Sep 17, 2020

Website

www.dyne-tx.com

Key Metrics TTM

Revenue

$0

— YoY

Net Income

-$446M

EPS (Diluted)

-$3.54

Free Cash Flow

-$424M

Revenue / Share

$0.00

Gross Margin

—

Operating Margin

—

Net Margin

—

FCF Margin

—

P/S

—

P/E

—

Earnings Reports

Q1 2026

May 14, 2026

PENDING

FY 2025

Mar 2, 2026

$0EPS -$3.47

Q4 2025

Mar 2, 2026

$0EPS -$0.76

Q3 2025

Nov 5, 2025

$0EPS -$0.76

Q2 2025

Jul 28, 2025

$0EPS -$0.97

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$0	$0	-$36M
Q2 22	$0	$0	-$53M
Q3 22	$0	$0	-$42M
Q4 22	$0	$0	-$40M
Q1 23	$0	$0	-$45M
Q2 23	$0	$0	-$67M
Q3 23	$0	$0	-$62M
Q4 23	$0	$0	-$68M
Q1 24	$0	$0	-$69M
Q2 24	$0	$0	-$72M
Q3 24	$0	$0	-$106M
Q4 24	$0	$0	-$97M
Q1 25	$0	$0	-$122M
Q2 25	$0	$0	-$116M
Q3 25	$0	$0	-$114M
Q4 25	$0	-$521.0K	-$116M

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$51M	-$52M
Q2 22	-$31M	-$31M
Q3 22	-$43M	-$44M
Q4 22	-$29M	-$30M
Q1 23	-$47M	-$47M
Q2 23	-$56M	-$56M
Q3 23	-$51M	-$51M
Q4 23	-$35M	-$35M
Q1 24	-$79M	-$79M
Q2 24	-$55M	-$56M
Q3 24	-$75M	-$75M
Q4 24	-$84M	-$85M
Q1 25	-$106M	-$107M
Q2 25	-$95M	-$95M
Q3 25	-$91M	-$110M
Q4 25	-$112M	-$112M

Capital Expenditures

Quarter	CapEx
Q1 22	$1M
Q2 22	$261.0K
Q3 22	$886.0K
Q4 22	$519.0K
Q1 23	$230.0K
Q2 23	$250.0K
Q3 23	$167.0K
Q4 23	$82.0K
Q1 24	$191.0K
Q2 24	$857.0K
Q3 24	$253.0K
Q4 24	$1M
Q1 25	$981.0K
Q2 25	$60.0K
Q3 25	$19M
Q4 25	$484.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	—	+42.4%
Q2 22	—	+74.9%
Q3 22	—	-1.1%
Q4 22	—	-22.7%
Q1 23	—	+27.1%
Q2 23	—	+26.5%
Q3 23	—	+47.3%
Q4 23	—	+68.6%
Q1 24	—	+52.1%
Q2 24	—	+7.8%
Q3 24	—	+69.7%
Q4 24	—	+43.5%
Q1 25	—	+76.9%
Q2 25	—	+60.9%
Q3 25	—	+7.8%
Q4 25	—	+19.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$0	—
Q2 22	$0	—
Q3 22	$4M	—
Q4 22	$4M	—
Q1 23	$5M	—
Q2 23	$5M	—
Q3 23	$5M	—
Q4 23	$6M	—
Q1 24	$20M	—
Q2 24	$7M	—
Q3 24	$9M	—
Q4 24	$0	—
Q1 25	$13M	—
Q2 25	$11M	—
Q3 25	$0	—
Q4 25	$11M	—

OpEx Breakdown

Quarter	R&D	G&A
Q1 22	$28M	$8M
Q2 22	$47M	$6M
Q3 22	$35M	$8M
Q4 22	$33M	$7M
Q1 23	$38M	$8M
Q2 23	$59M	$8M
Q3 23	$55M	$7M
Q4 23	$59M	$9M
Q1 24	$45M	$25M
Q2 24	$62M	$10M
Q3 24	$93M	$13M
Q4 24	$82M	$15M
Q1 25	$106M	$16M
Q2 25	$99M	$17M
Q3 25	$97M	$17M
Q4 25	$95M	$21M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$148M	$175M	$323M
Q2 22	$136M	$156M	$292M
Q3 22	$145M	$103M	$248M
Q4 22	$172M	$84M	$256M
Q1 23	$181M	$57M	$238M
Q2 23	$168M	$40M	$208M
Q3 23	$130M	$28M	$158M
Q4 23	$122M	$1M	$123M
Q1 24	$272M	$182M	$454M
Q2 24	$608M	$171M	$779M
Q3 24	$532M	$192M	$724M
Q4 24	$435M	$207M	$642M
Q1 25	$472M	$205M	$677M
Q2 25	$485M	$199M	$684M
Q3 25	$574M	$218M	$792M
Q4 25	$893M	$217M	$1.1B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	52M	+0.1%	+4.3%
Q2 22	52M	+0.2%	+0.9%
Q3 22	52M	+0.2%	+0.9%
Q4 22	52M	+1.3%	+1.8%
Q1 23	56M	+7.4%	+9.2%
Q2 23	60M	+6.2%	+15.8%
Q3 23	61M	+2.1%	+18.0%
Q4 23	61M	+0.5%	+17.0%
Q1 24	81M	+32.0%	+43.9%
Q2 24	93M	+14.1%	+54.6%
Q3 24	101M	+9.1%	+65.1%
Q4 24	102M	+1.1%	+66.1%
Q1 25	110M	+7.8%	+35.6%
Q2 25	114M	+3.6%	+23.1%
Q3 25	142M	+24.5%	+40.6%
Q4 25	128M	-9.4%	+25.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$0	95
Q2 22	$0	95
Q3 22	$0	95
Q4 22	$0	123
Q1 23	$0	123
Q2 23	$0	123
Q3 23	$0	123
Q4 23	$0	141
Q1 24	$0	141
Q2 24	$0	141
Q3 24	$0	141
Q4 24	$0	191
Q1 25	$0	191
Q2 25	$0	191
Q3 25	$0	191
Q4 25	$0	55K

Revenue / Employee