GHRS

MKT CAP:$1B

GH Research PLC

Market Cap

$1B

Healthcare·Biotechnology·🇮🇪 Ireland·NASDAQ

Healthcare·Biotechnology·🇮🇪·NASDAQ

Stock Price

$20.65+$7.41 (+55.97%)

Apr 21, 2026

Company Details

GH Research PLC, a clinical-stage biopharmaceutical company, engages in developing various therapies for the treatment of psychiatric and neurological disorders. The company focuses on developing 5-Methoxy-N,N-Dimethyltryptamine (5-MeO-DMT)...

CEO

Velichka Valcheva

IPO Date

Jun 25, 2021

Website

www.ghres.com

Key Metrics TTM

Revenue

$0

— YoY

Net Income

-$48M

EPS (Diluted)

-$0.80

Free Cash Flow

-$44M

Revenue / Share

$0.00

Gross Margin

—

Operating Margin

—

Net Margin

—

FCF Margin

—

P/S

—

P/E

—

Earnings Reports

Q1 2026

May 7, 2026

PENDING

FY 2025

Mar 5, 2026

$0EPS -$0.79

Q4 2025

Mar 5, 2026

$0EPS -$0.23

Q3 2025

Nov 6, 2025

$0EPS -$0.23

Q2 2025

Aug 7, 2025

$0EPS -$0.15

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$0	$0	-$8M
Q2 22	$0	$0	-$7M
Q3 22	$0	$0	-$7M
Q4 22	$0	$0	-$9M
Q1 23	$0	$0	-$10M
Q2 23	$0	$0	-$10M
Q3 23	$0	$0	-$10M
Q4 23	$0	$0	-$11M
Q1 24	$0	$0	-$12M
Q2 24	$0	$0	-$13M
Q3 24	$0	$0	-$13M
Q4 24	$0	$0	-$13M
Q1 25	$0	$0	-$13M
Q2 25	$0	$0	-$15M
Q3 25	$0	-$89.0K	-$17M
Q4 25	$0	-$88.0K	-$17M

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$6M	-$6M
Q2 22	-$5M	-$5M
Q3 22	-$8M	-$8M
Q4 22	-$7M	-$7M
Q1 23	-$7M	-$7M
Q2 23	-$8M	-$8M
Q3 23	-$10M	-$10M
Q4 23	-$8M	-$8M
Q1 24	-$10M	-$10M
Q2 24	-$10M	-$10M
Q3 24	-$12M	-$12M
Q4 24	-$10M	-$10M
Q1 25	-$9M	-$9M
Q2 25	-$9M	-$9M
Q3 25	-$14M	-$14M
Q4 25	-$12M	-$12M

Capital Expenditures

Quarter	CapEx
Q1 22	$10.0K
Q2 22	$24.0K
Q3 22	$15.0K
Q4 22	$18.0K
Q1 23	$22.0K
Q2 23	$46.0K
Q3 23	$8.0K
Q4 23	$24.0K
Q1 24	$12.0K
Q2 24	$8.0K
Q3 24	$4.0K
Q4 24	$25.0K
Q1 25	$4.0K
Q2 25	$59.0K
Q3 25	$41.3K
Q4 25	$18.1K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	—	+602.3%
Q2 22	—	+152.5%
Q3 22	—	+42.0%
Q4 22	—	+38.5%
Q1 23	—	+30.1%
Q2 23	—	+47.0%
Q3 23	—	+46.7%
Q4 23	—	+21.7%
Q1 24	—	+10.6%
Q2 24	—	+33.2%
Q3 24	—	+29.9%
Q4 24	—	+16.0%
Q1 25	—	+10.4%
Q2 25	—	+11.2%
Q3 25	—	+31.0%
Q4 25	—	+29.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$327.0K	—
Q2 22	$466.0K	—
Q3 22	$419.0K	—
Q4 22	$459.0K	—
Q1 23	$551.0K	—
Q2 23	$451.0K	—
Q3 23	$647.0K	—
Q4 23	$591.0K	—
Q1 24	$300.0K	—
Q2 24	$108.0K	—
Q3 24	$273.0K	—
Q4 24	$759.0K	—
Q1 25	$2M	—
Q2 25	$2M	—
Q3 25	$0	—
Q4 25	$0	—

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q1 22	$5M	$3M	—
Q2 22	$4M	$3M	—
Q3 22	$5M	$2M	—
Q4 22	$7M	$2M	—
Q1 23	$7M	$3M	—
Q2 23	$7M	$3M	—
Q3 23	$7M	$3M	—
Q4 23	$8M	$3M	—
Q1 24	$9M	$3M	—
Q2 24	$10M	$3M	—
Q3 24	$8M	$4M	—
Q4 24	$8M	$5M	—
Q1 25	$8M	$5M	—
Q2 25	$9M	$6M	—
Q3 25	$11M	—	$6M
Q4 25	$11M	—	$5M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$271M	$0	$271M
Q2 22	$265M	$0	$265M
Q3 22	$257M	$0	$257M
Q4 22	$166M	$0	$166M
Q1 23	$105M	$58M	$163M
Q2 23	$97M	$68M	$165M
Q3 23	$86M	$75M	$161M
Q4 23	$78M	$83M	$162M
Q1 24	$77M	$80M	$158M
Q2 24	$87M	$64M	$151M
Q3 24	$90M	$60M	$150M
Q4 24	$101M	$49M	$149M
Q1 25	$245M	$46M	$291M
Q2 25	$254M	$38M	$292M
Q3 25	$250M	$39M	$289M
Q4 25	$246M	$34M	$281M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	52M	0.0%	+6.5%
Q2 22	52M	0.0%	+29.7%
Q3 22	52M	0.0%	0.0%
Q4 22	52M	0.0%	0.0%
Q1 23	52M	0.0%	0.0%
Q2 23	52M	0.0%	0.0%
Q3 23	52M	0.0%	0.0%
Q4 23	52M	+0.0%	+0.0%
Q1 24	52M	+0.0%	+0.0%
Q2 24	52M	0.0%	+0.0%
Q3 24	52M	0.0%	+0.0%
Q4 24	52M	0.0%	+0.0%
Q1 25	58M	+11.5%	+11.5%
Q2 25	62M	+6.9%	+19.2%
Q3 25	62M	+0.0%	+19.2%
Q4 25	62M	0.0%	+19.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$0	14
Q2 22	$0	14
Q3 22	$0	14
Q4 22	$0	32
Q1 23	$0	32
Q2 23	$0	32
Q3 23	$0	32
Q4 23	$0	49
Q1 24	$0	49
Q2 24	$0	49
Q3 24	$0	49
Q4 24	$0	50
Q1 25	$0	50
Q2 25	$0	50
Q3 25	$0	50
Q4 25	$0	73

Revenue / Employee