NXTC

MKT CAP:$28M

NextCure, Inc.

Market Cap

$28M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$12.40-$0.88 (-6.63%)

Apr 23, 2026

Company Details

NextCure, Inc., a clinical-stage biopharmaceutical company, engages in discovering and developing novel immunomedicines to treat cancer and other immune-related diseases by restoring normal immune function. Its lead product candidate is NC3...

CEO

Michael S. Richman

IPO Date

May 9, 2019

Website

www.nextcure.com

Key Metrics TTM

Revenue

$0

— YoY

Net Income

-$56M

EPS (Diluted)

-$21.90

Free Cash Flow

-$50M

Revenue / Share

$0.00

Gross Margin

—

Operating Margin

—

Net Margin

—

FCF Margin

—

P/S

—

P/E

—

Earnings Reports

Q1 2026

Apr 30, 2026

PENDING

FY 2025

Mar 5, 2026

$0EPS -$19.65

Q4 2025

Mar 5, 2026

$0EPS -$2.69

Q3 2025

Nov 5, 2025

$0EPS -$3.22

Q2 2025

Aug 7, 2025

$0EPS -$11.29

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$0	$0	-$21M
Q2 22	$0	$0	-$18M
Q3 22	$0	$0	-$19M
Q4 22	$0	$0	-$18M
Q1 23	$0	$0	-$17M
Q2 23	$0	$0	-$19M
Q3 23	$0	$0	-$16M
Q4 23	$0	$0	-$16M
Q1 24	$0	$0	-$18M
Q2 24	$0	-$701.0K	-$16M
Q3 24	$0	$0	-$12M
Q4 24	$0	$0	-$12M
Q1 25	$0	$0	-$12M
Q2 25	$0	$0	-$27M
Q3 25	$0	$0	-$9M
Q4 25	$0	-$365.0K	-$10M

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$15M	-$16M
Q2 22	-$14M	-$15M
Q3 22	-$15M	-$16M
Q4 22	-$9M	-$10M
Q1 23	-$15M	-$15M
Q2 23	-$15M	-$15M
Q3 23	-$13M	-$13M
Q4 23	-$11M	-$11M
Q1 24	-$13M	-$13M
Q2 24	-$10M	-$10M
Q3 24	-$11M	-$12M
Q4 24	-$7M	-$7M
Q1 25	-$13M	-$13M
Q2 25	-$23M	-$23M
Q3 25	-$6M	-$6M
Q4 25	-$8M	-$8M

Capital Expenditures

Quarter	CapEx
Q1 22	$305.0K
Q2 22	$414.0K
Q3 22	$532.0K
Q4 22	$865.0K
Q1 23	$248.0K
Q2 23	$280.0K
Q3 23	$279.0K
Q4 23	$13.0K
Q1 24	$37.0K
Q2 24	$301.0K
Q3 24	$170.0K
Q4 24	$34.0K
Q1 25	$0
Q2 25	$0
Q3 25	$0
Q4 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	—	+20.5%
Q2 22	—	+1.0%
Q3 22	—	+3.9%
Q4 22	—	+4.1%
Q1 23	—	-17.8%
Q2 23	—	+5.7%
Q3 23	—	-18.8%
Q4 23	—	-11.1%
Q1 24	—	+7.2%
Q2 24	—	-13.9%
Q3 24	—	-20.0%
Q4 24	—	-21.1%
Q1 25	—	-36.5%
Q2 25	—	+65.5%
Q3 25	—	-28.4%
Q4 25	—	-21.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$3M	—
Q2 22	$2M	—
Q3 22	$2M	—
Q4 22	$0	—
Q1 23	$2M	—
Q2 23	$2M	—
Q3 23	$2M	—
Q4 23	$2M	—
Q1 24	$2M	—
Q2 24	$2M	—
Q3 24	$2M	—
Q4 24	$2M	—
Q1 25	$1M	—
Q2 25	$588.0K	—
Q3 25	$600.0K	—
Q4 25	$435.0K	—

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q1 22	$15M	$6M	—
Q2 22	$13M	$5M	—
Q3 22	$14M	$6M	—
Q4 22	$13M	$5M	—
Q1 23	$12M	$5M	—
Q2 23	$13M	$6M	—
Q3 23	$11M	$5M	—
Q4 23	$12M	$4M	—
Q1 24	$11M	$4M	—
Q2 24	$12M	$4M	—
Q3 24	$9M	$4M	—
Q4 24	$9M	$4M	—
Q1 25	$8M	$4M	—
Q2 25	$24M	$3M	—
Q3 25	$6M	$3M	—
Q4 25	$6M	—	$3M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$11M	$191M	$201M
Q2 22	$28M	$157M	$185M
Q3 22	$31M	$138M	$169M
Q4 22	$27M	$133M	$160M
Q1 23	$30M	$116M	$145M
Q2 23	$22M	$109M	$131M
Q3 23	$20M	$99M	$118M
Q4 23	$13M	$95M	$108M
Q1 24	$18M	$78M	$96M
Q2 24	$21M	$66M	$86M
Q3 24	$28M	$48M	$75M
Q4 24	$28M	$41M	$69M
Q1 25	$22M	$34M	$56M
Q2 25	$5M	$30M	$35M
Q3 25	$7M	$22M	$29M
Q4 25	$26M	$16M	$42M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	2M	+0.2%	+0.4%
Q2 22	2M	+0.1%	+0.5%
Q3 22	2M	+0.0%	+0.5%
Q4 22	2M	+0.1%	+0.5%
Q1 23	2M	0.0%	+0.2%
Q2 23	2M	+0.2%	+0.3%
Q3 23	2M	+0.0%	+0.3%
Q4 23	2M	+0.3%	+0.5%
Q1 24	2M	-0.0%	+0.5%
Q2 24	2M	+0.2%	+0.5%
Q3 24	2M	+0.0%	+0.5%
Q4 24	2M	+0.1%	+0.3%
Q1 25	2M	0.0%	+0.4%
Q2 25	2M	+1.8%	+1.9%
Q3 25	3M	+12.7%	+14.8%
Q4 25	4M	+31.0%	+50.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$0	87
Q2 22	$0	87
Q3 22	$0	87
Q4 22	$0	99
Q1 23	$0	99
Q2 23	$0	99
Q3 23	$0	99
Q4 23	$0	82
Q1 24	$0	82
Q2 24	$0	82
Q3 24	$0	82
Q4 24	$0	43
Q1 25	$0	43
Q2 25	$0	43
Q3 25	$0	43
Q4 25	$0	200K

Revenue / Employee