MAZE

MKT CAP:$1B

Maze Therapeutics, Inc.

Market Cap

$1B

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$25.69-$14.08 (-35.40%)

Apr 21, 2026

Company Details

Maze Therapeutics, Inc., a clinical stage biopharmaceutical company, develops small molecule precision medicines for the treatment of renal, cardiovascular, related metabolic diseases, and obesity in the United States. Its lead programs inc...

CEO

Jason V. Coloma

IPO Date

Jan 31, 2025

Website

www.mazetx.com

Key Metrics TTM

Revenue

$0

-100.0% YoY

Net Income

-$131M

EPS (Diluted)

-$3.05

Free Cash Flow

-$113M

Revenue / Share

$0.00

Gross Margin

—

Operating Margin

—

Net Margin

—

FCF Margin

—

P/S

—

P/E

—

Earnings Reports

Q1 2026

May 13, 2026

PENDING

FY 2025

Mar 25, 2026

$0-100.0%EPS -$3.05

Q4 2025

Mar 25, 2026

$0EPS -$0.87

Q3 2025

Nov 6, 2025

$0-100.0%EPS -$0.66

Q2 2025

Aug 12, 2025

$0-100.0%EPS -$0.77

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 23	$0	$0	-$25M
Q4 23	$0	$0	-$23M
Q1 24	$0	$0	-$28M
Q2 24	$165M	$165M	$140M
Q3 24	$3M	$3M	-$24M
Q4 24	$0	$0	-$30M
Q1 25	$0	$0	-$35M
Q2 25	$0	-$649.0K	-$36M
Q3 25	$0	$0	-$33M
Q4 25	$0	-$499.0K	-$38M

Valuation

Quarter	P/S	P/E
Q3 23	—	—
Q4 23	—	—
Q1 24	—	—
Q2 24	4.0x	11.9x
Q3 24	3.9x	11.9x
Q4 24	3.9x	12.6x
Q1 25	2.9x	9.3x
Q2 25	215.2x	—
Q3 25	—	—
Q4 25	—	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 23	-$20M	-$20M
Q4 23	-$21M	-$21M
Q1 24	-$23M	-$24M
Q2 24	$145M	$145M
Q3 24	-$23M	-$23M
Q4 24	-$22M	-$23M
Q1 25	-$30M	-$30M
Q2 25	-$30M	-$30M
Q3 25	-$25M	-$25M
Q4 25	-$28M	-$28M

Capital Expenditures

Quarter	CapEx
Q3 23	$3.0K
Q4 23	$34.0K
Q1 24	$279.0K
Q2 24	$160.0K
Q3 24	$103.0K
Q4 24	$605.0K
Q1 25	$299.0K
Q2 25	$393.0K
Q3 25	$68.0K
Q4 25	$34.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 24	—	+5.9%
Q4 24	—	+29.0%
Q1 25	—	+26.4%
Q2 25	-100.0%	+43.3%
Q3 25	-100.0%	+23.3%
Q4 25	—	+28.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 23	$2M	—
Q4 23	$3M	—
Q1 24	$2M	—
Q2 24	$2M	1.3%
Q3 24	$2M	93.7%
Q4 24	$3M	—
Q1 25	$3M	—
Q2 25	$3M	—
Q3 25	$4M	—
Q4 25	$6M	—

OpEx Breakdown

Quarter	R&D	G&A
Q3 23	$19M	$6M
Q4 23	$16M	$7M
Q1 24	$22M	$6M
Q2 24	$20M	$6M
Q3 24	$20M	$7M
Q4 24	$22M	$8M
Q1 25	$28M	$8M
Q2 25	$28M	$8M
Q3 25	$25M	$8M
Q4 25	$28M	$10M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 23	$29M	$0	$29M
Q2 24	$175M	$0	$175M
Q3 24	$150M	$0	$150M
Q4 24	$197M	$0	$197M
Q1 25	$294M	$0	$294M
Q2 25	$265M	$0	$265M
Q3 25	$317M	$67M	$384M
Q4 25	$189M	$153M	$342M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 23	44M	—	—
Q4 23	44M	0.0%	—
Q1 24	44M	+0.0%	—
Q2 24	44M	-0.0%	—
Q3 24	44M	-0.0%	0.0%
Q4 24	44M	+0.0%	+0.0%
Q1 25	44M	+0.0%	0.0%
Q2 25	44M	+0.1%	+0.1%
Q3 25	46M	+4.4%	+4.6%
Q4 25	43M	-6.1%	-1.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 23	—	—
Q4 23	—	—
Q1 24	—	—
Q2 24	—	—
Q3 24	—	—
Q4 24	$0	14K
Q1 25	$0	14K
Q2 25	$0	14K
Q3 25	$0	14K
Q4 25	$0	1.0M

Revenue / Employee