NUVL

MKT CAP:$8B

Nuvalent, Inc.

Market Cap

$8B

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$108.02+$7.18 (+7.12%)

Apr 23, 2026

Company Details

Nuvalent, Inc., a clinical stage biopharmaceutical company, develops therapies for patients with cancer. Its lead product candidates are NVL-520, a brain-penetrant ROS1-selective inhibitor to inhibit ROS1 fusions that express the normal ROS...

CEO

James R. Porter

IPO Date

Jul 29, 2021

Website

www.nuvalent.com

Key Metrics TTM

Revenue

$0

— YoY

Net Income

-$425M

EPS (Diluted)

-$5.85

Free Cash Flow

-$275M

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

Feb 26, 2026

$0EPS -$5.85

Q4 2025

Feb 26, 2026

$0EPS -$1.58

Q3 2025

Oct 30, 2025

$0EPS -$1.70

Q2 2025

Aug 7, 2025

$0EPS -$1.39

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$0	$0	-$18M
Q2 22	$0	$0	-$19M
Q3 22	$0	$0	-$20M
Q4 22	$0	$0	-$29M
Q1 23	$0	$0	-$30M
Q2 23	$0	$0	-$34M
Q3 23	$0	$0	-$39M
Q4 23	$0	$0	-$46M
Q1 24	$0	$0	-$53M
Q2 24	$0	$0	-$65M
Q3 24	$0	$0	-$76M
Q4 24	$0	$0	-$86M
Q1 25	$0	$0	-$95M
Q2 25	$0	$0	-$105M
Q3 25	$0	$0	-$113M
Q4 25	$0	$0	-$102M

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$14M	-$14M
Q2 22	-$15M	-$15M
Q3 22	-$18M	-$18M
Q4 22	-$18M	-$18M
Q1 23	-$24M	-$24M
Q2 23	-$22M	-$22M
Q3 23	-$23M	-$23M
Q4 23	-$30M	-$30M
Q1 24	-$36M	-$36M
Q2 24	-$41M	-$41M
Q3 24	-$46M	-$46M
Q4 24	-$62M	-$62M
Q1 25	-$55M	-$55M
Q2 25	-$77M	-$77M
Q3 25	-$70M	-$70M
Q4 25	-$73M	-$73M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	—	+187.0%
Q2 22	—	+90.2%
Q3 22	—	+64.1%
Q4 22	—	+68.6%
Q1 23	—	+70.8%
Q2 23	—	+81.8%
Q3 23	—	+90.2%
Q4 23	—	+58.5%
Q1 24	—	+74.1%
Q2 24	—	+91.3%
Q3 24	—	+96.8%
Q4 24	—	+85.8%
Q1 25	—	+80.3%
Q2 25	—	+60.5%
Q3 25	—	+47.6%
Q4 25	—	+18.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$2M	—
Q2 22	$2M	—
Q3 22	$3M	—
Q4 22	$3M	—
Q1 23	$5M	—
Q2 23	$6M	—
Q3 23	$7M	—
Q4 23	$7M	—
Q1 24	$14M	—
Q2 24	$15M	—
Q3 24	$15M	—
Q4 24	$16M	—
Q1 25	$20M	—
Q2 25	$22M	—
Q3 25	$0	—
Q4 25	$0	—

OpEx Breakdown

Quarter	R&D	G&A
Q1 22	$13M	$5M
Q2 22	$14M	$5M
Q3 22	$15M	$6M
Q4 22	$23M	$6M
Q1 23	$22M	$8M
Q2 23	$26M	$8M
Q3 23	$30M	$9M
Q4 23	$36M	$11M
Q1 24	$39M	$14M
Q2 24	$49M	$16M
Q3 24	$61M	$16M
Q4 24	$69M	$17M
Q1 25	$74M	$20M
Q2 25	$81M	$24M
Q3 25	$84M	$29M
Q4 25	$68M	$34M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$67M	$205M	$273M
Q2 22	$76M	$181M	$257M
Q3 22	$76M	$164M	$240M
Q4 22	$242M	$230M	$472M
Q1 23	$90M	$360M	$450M
Q2 23	$71M	$360M	$431M
Q3 23	$88M	$325M	$413M
Q4 23	$335M	$385M	$720M
Q1 24	$99M	$593M	$692M
Q2 24	$78M	$580M	$658M
Q3 24	$369M	$799M	$1.2B
Q4 24	$146M	$973M	$1.1B
Q1 25	$121M	$952M	$1.1B
Q2 25	$127M	$878M	$1.0B
Q3 25	$116M	$827M	$943M
Q4 25	$262M	$1.1B	$1.4B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	48M	+0.0%	+111.2%
Q2 22	48M	+0.1%	+5.1%
Q3 22	48M	+0.2%	+51.0%
Q4 22	54M	+10.8%	+11.1%
Q1 23	57M	+5.8%	+17.4%
Q2 23	57M	+0.3%	+17.7%
Q3 23	57M	+0.4%	+17.9%
Q4 23	62M	+8.9%	+16.0%
Q1 24	64M	+3.2%	+13.1%
Q2 24	65M	+0.7%	+13.6%
Q3 24	66M	+1.7%	+15.0%
Q4 24	71M	+8.3%	+14.4%
Q1 25	72M	+0.6%	+11.6%
Q2 25	72M	+0.3%	+11.2%
Q3 25	72M	+0.4%	+9.8%
Q4 25	75M	+4.1%	+5.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$0	40
Q2 22	$0	40
Q3 22	$0	40
Q4 22	$0	62
Q1 23	$0	62
Q2 23	$0	62
Q3 23	$0	62
Q4 23	$0	92
Q1 24	$0	92
Q2 24	$0	92
Q3 24	$0	92
Q4 24	$0	142
Q1 25	$0	142
Q2 25	$0	142
Q3 25	$0	142
Q4 25	$0	142

Revenue / Employee