FHTX (Foghorn Therapeutics Inc.) Stock Financials & Earnings | Market Cap Arena

FHTX (Foghorn Therapeutics Inc.) Stock Financials & Earnings | Market Cap Arena

FHTXFoghorn Therapeutics Inc.

Mkt Cap$330M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Revenue (TTM)$25M

Net Income (TTM)-$72M

EPS (TTM)-$1.14

Free Cash Flow (TTM)-$89M

Gross Margin14.7%

Op. Margin-352.9%

Net Margin-294.2%

FCF Margin-362.5%

P/S Ratio (TTM)13.5x

P/E Ratio (TTM)—

YoY Rev Growth-3.9%

Employees—

Earnings Reports

Next: Q4 2025 · Mar 12

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q4 22	$4M	-$24M	-$32M
Q1 23	$5M	$5M	-$33M
Q2 23	$6M	-$24M	-$32M
Q3 23	$17M	-$9M	-$17M
Q4 23	$6M	$5M	-$25M
Q1 24	$5M	$5M	-$28M
Q2 24	$7M	$7M	-$27M
Q3 24	$8M	$8M	-$24M
Q4 24	$3M	$3M	-$24M
Q1 25	$6M	$6M	-$23M
Q2 25	$8M	$7M	-$21M
Q3 25	$8M	-$12M	-$19M

Valuation

Quarter	P/S	P/E
Q4 22	17.2x	—
Q1 23	16.0x	—
Q2 23	15.2x	—
Q3 23	10.1x	—
Q4 23	9.7x	—
Q1 24	9.7x	—
Q2 24	9.4x	—
Q3 24	12.9x	—
Q4 24	14.6x	—
Q1 25	14.1x	—
Q2 25	13.7x	—
Q3 25	13.5x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 22	-$29M	-$29M
Q1 23	-$31M	-$32M
Q2 23	-$32M	-$33M
Q3 23	-$27M	-$27M
Q4 23	-$28M	-$28M
Q1 24	-$29M	-$29M
Q2 24	-$26M	-$26M
Q3 24	-$21M	-$21M
Q4 24	-$25M	-$25M
Q1 25	-$24M	-$24M
Q2 25	-$21M	-$21M
Q3 25	-$19M	-$19M

Capital Expenditures

CapEx

Quarter	CapEx
Q4 22	$269K
Q1 23	$636K
Q2 23	$469K
Q3 23	$82K
Q4 23	$37K
Q1 24	$101K
Q2 24	$17K
Q3 24	$309K
Q4 24	$479K
Q1 25	$28K
Q2 25	$22K
Q3 25	$0

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 22	+486.8%	+25.3%
Q1 23	+35.4%	+21.8%
Q2 23	+24.7%	+11.8%
Q3 23	+163.5%	-1.0%
Q4 23	+37.9%	-13.4%
Q1 24	-4.9%	-13.9%
Q2 24	+23.0%	-11.0%
Q3 24	-55.3%	-8.4%
Q4 24	-50.5%	-14.0%
Q1 25	+17.9%	-13.2%
Q2 25	+9.7%	-14.5%
Q3 25	+4.4%	-15.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 22	$0	0.0%
Q1 23	$5M	86.1%
Q2 23	$0	0.0%
Q3 23	$4M	23.4%
Q4 23	$3M	52.9%
Q1 24	$3M	63.8%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$2M	86.9%
Q1 25	$3M	45.2%
Q2 25	$3M	36.2%
Q3 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A
Q4 22	$28M	$8M
Q1 23	$30M	$9M
Q2 23	$29M	$8M
Q3 23	$26M	$8M
Q4 23	$23M	$7M
Q1 24	$26M	$8M
Q2 24	$24M	$7M
Q3 24	$25M	$7M
Q4 24	$21M	$6M
Q1 25	$22M	$7M
Q2 25	$21M	$7M
Q3 25	$20M	$7M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 22	$52M	$294M	$346M
Q1 23	$51M	$265M	$316M
Q2 23	$58M	$227M	$284M
Q3 23	$70M	$190M	$260M
Q4 23	$80M	$154M	$234M
Q1 24	$79M	$127M	$207M
Q2 24	$139M	$146M	$285M
Q3 24	$58M	$210M	$267M
Q4 24	$55M	$188M	$244M
Q1 25	$61M	$160M	$221M
Q2 25	$73M	$126M	$199M
Q3 25	$89M	$91M	$180M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q4 22	42M	+0.3%
Q1 23	42M	+0.0%
Q2 23	42M	+0.0%
Q3 23	42M	+0.5%
Q4 23	42M	+0.6%
Q1 24	42M	+0.3%
Q2 24	52M	+21.6%
Q3 24	63M	+21.4%
Q4 24	63M	+0.0%
Q1 25	63M	+0.4%
Q2 25	63M	+0.2%
Q3 25	63M	+0.1%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 18	—	—
FY 19	—	—
FY 20	$5K	95
FY 21	$11K	119
FY 22	$119K	161
FY 23	$294K	116
FY 24	$202K	112