MGTX

MKT CAP:$759M

MeiraGTx Holdings plc

Market Cap

$759M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$9.32+$1.51 (+19.33%)

Apr 23, 2026

Company Details

MeiraGTx Holdings plc, a clinical stage gene therapy company, focusing on developing treatments for patients with serious diseases. The company develops various therapies for ocular diseases, including inherited blindness, as well as Xerost...

CEO

Alexandria Forbes

IPO Date

Jun 8, 2018

Website

www.meiragtx.com

Key Metrics TTM

Revenue

$27M

+96.8% YoY

Net Income

-$169M

EPS (Diluted)

-$2.11

Free Cash Flow

-$121M

Revenue / Share

$0.34

Gross Margin

41.0%

Operating Margin

-597.9%

Net Margin

-615.3%

FCF Margin

-441.5%

P/S

27.7x

P/E

—

Earnings Reports

Q4 2025

May 12, 2026

PENDING

FY 2025

Mar 30, 2026

$81M+144.6%EPS -$1.42

Q3 2025

Nov 13, 2025

$410.0K-96.2%EPS -$0.62

Q2 2025

Aug 14, 2025

$4M+1208.9%EPS -$0.48

Q1 2025

May 13, 2025

$2M+176.3%EPS -$0.51

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 21	$21M	$19M	-$8M
Q1 22	$6M	$4M	-$29M
Q2 22	$11M	$9M	-$24M
Q3 22	$5M	$3M	-$23M
Q4 22	-$5M	-$5M	-$41M
Q1 23	$3M	$242.0K	-$32M
Q2 23	$4M	$293.0K	-$29M
Q3 23	$5M	$5M	-$33M
Q4 23	$2M	-$2M	-$44M
Q1 24	$697.0K	-$3M	-$47M
Q2 24	$282.0K	$282.0K	-$46M
Q3 24	$11M	-$1M	-$40M
Q4 24	$21M	$10M	-$31M
Q1 25	$2M	$548.0K	-$42M
Q2 25	$4M	$1M	-$45M
Q3 25	$410.0K	$97.0K	-$46M

Valuation

Quarter	P/S	P/E
Q4 21	27.6x	—
Q1 22	15.4x	—
Q2 22	7.6x	—
Q3 22	8.6x	—
Q4 22	19.3x	—
Q1 23	24.6x	—
Q2 23	62.6x	—
Q3 23	44.2x	—
Q4 23	30.1x	—
Q1 24	32.5x	—
Q2 24	32.3x	—
Q3 24	19.3x	—
Q4 24	12.7x	—
Q1 25	13.7x	—
Q2 25	13.6x	—
Q3 25	24.2x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	$19M	-$6M
Q1 22	-$8M	-$21M
Q2 22	-$28M	-$42M
Q3 22	-$21M	-$31M
Q4 22	-$16M	-$25M
Q1 23	-$37M	-$46M
Q2 23	-$29M	-$34M
Q3 23	-$24M	-$28M
Q4 23	-$15M	-$18M
Q1 24	-$37M	-$38M
Q2 24	-$19M	-$21M
Q3 24	-$25M	-$26M
Q4 24	-$23M	-$24M
Q1 25	-$37M	-$39M
Q2 25	-$44M	-$45M
Q3 25	-$12M	-$13M

Capital Expenditures

Quarter	CapEx
Q4 21	$24M
Q1 22	$12M
Q2 22	$14M
Q3 22	$10M
Q4 22	$8M
Q1 23	$9M
Q2 23	$5M
Q3 23	$4M
Q4 23	$3M
Q1 24	$2M
Q2 24	$1M
Q3 24	$730.0K
Q4 24	$1M
Q1 25	$2M
Q2 25	$1M
Q3 25	$610.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	+455.5%	+71.5%
Q1 22	+22.6%	+29.1%
Q2 22	+110.3%	+34.8%
Q3 22	-30.7%	-6.4%
Q4 22	-125.1%	+22.6%
Q1 23	-40.8%	+2.1%
Q2 23	-67.1%	-6.4%
Q3 23	+6.0%	+37.1%
Q4 23	+138.6%	+28.0%
Q1 24	-79.1%	+35.3%
Q2 24	-92.0%	+42.9%
Q3 24	+113.8%	+34.6%
Q4 24	+948.5%	+15.5%
Q1 25	+176.3%	-8.3%
Q2 25	+1208.9%	+5.0%
Q3 25	-96.2%	-8.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$5M	25.8%
Q1 22	$8M	134.5%
Q2 22	$7M	67.9%
Q3 22	$7M	144.0%
Q4 22	$7M	—
Q1 23	$6M	192.9%
Q2 23	$7M	205.4%
Q3 23	$7M	138.2%
Q4 23	$7M	341.2%
Q1 24	$7M	998.6%
Q2 24	$6M	2060.3%
Q3 24	$6M	57.8%
Q4 24	$6M	28.6%
Q1 25	$5M	253.7%
Q2 25	$6M	153.5%
Q3 25	$6M	1451.7%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q4 21	$14M	—	—	$13M
Q1 22	$23M	—	—	$9M
Q2 22	$24M	—	—	$8M
Q3 22	$17M	—	—	$9M
Q4 22	$25M	$14M	—	—
Q1 23	$22M	—	—	$10M
Q2 23	$20M	—	—	$9M
Q3 23	$28M	$10M	—	—
Q4 23	$34M	$12M	—	—
Q1 24	$34M	$13M	—	—
Q2 24	$35M	$11M	—	—
Q3 24	$26M	$13M	—	—
Q4 24	$24M	$17M	$3M	—
Q1 25	$33M	$9M	—	—
Q2 25	$33M	$12M	—	—
Q3 25	$33M	$14M	—	—

Revenue Segments

Quarter	Related Party Service Revenue
Q2 25	$4M
Q3 25	$410.0K

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$114M	$0	$114M
Q2 22	$72M	$0	$72M
Q3 22	$115M	$0	$115M
Q4 22	$116M	$0	$116M
Q1 23	$69M	$0	$69M
Q2 23	$93M	$0	$93M
Q3 23	$63M	$0	$63M
Q4 23	$130M	$0	$130M
Q1 24	$119M	$0	$119M
Q2 24	$100M	$0	$100M
Q3 24	$123M	$0	$123M
Q4 24	$104M	$0	$104M
Q1 25	$67M	$0	$67M
Q2 25	$32M	$0	$32M
Q3 25	$15M	$0	$15M
Q4 25	$66M	$0	$66M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 21	44M	0.0%	+18.7%
Q1 22	45M	+0.7%	+1.2%
Q2 22	45M	+0.4%	+1.2%
Q3 22	45M	+0.0%	+1.2%
Q4 22	44M	-1.2%	-0.1%
Q1 23	49M	+10.2%	+9.3%
Q2 23	55M	+13.8%	+23.9%
Q3 23	60M	+7.5%	+33.2%
Q4 23	64M	+6.8%	+44.1%
Q1 24	64M	+0.7%	+31.7%
Q2 24	64M	+0.5%	+16.3%
Q3 24	72M	+11.3%	+20.3%
Q4 24	70M	-2.5%	+9.8%
Q1 25	79M	+13.2%	+23.4%
Q2 25	81M	+2.0%	+25.2%
Q3 25	81M	+0.4%	+13.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 21	$71.1K	296
Q1 22	$19.0K	296
Q2 22	$36.3K	296
Q3 22	$16.3K	296
Q4 22	-$14.8K	358
Q1 23	$9.3K	358
Q2 23	$9.9K	358
Q3 23	$14.3K	358
Q4 23	$4.8K	425
Q1 24	$1.6K	425
Q2 24	$664	425
Q3 24	$25.7K	425
Q4 24	$56.1K	381
Q1 25	$5.1K	381
Q2 25	$9.7K	381
Q3 25	$1.1K	381

Revenue / Employee