QTTB

MKT CAP:$78M

Q32 Bio Inc.

Market Cap

$78M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$6.75+$3.31 (+96.22%)

Apr 22, 2026

Company Details

Q32 Bio Inc., a clinical-stage biotechnology company, develops biologic therapeutics to restore healthy immune balance in patients with autoimmune and inflammatory diseases driven by pathological immune dysfunction in the United States. Its...

CEO

Jodie Pope Morrison

IPO Date

Mar 28, 2018

Website

www.q32bio.com

Key Metrics TTM

Revenue

$0

+100.0% YoY

Net Income

-$42M

EPS (Diluted)

-$3.44

Free Cash Flow

-$39M

Revenue / Share

$0.00

Gross Margin

—

Operating Margin

—

Net Margin

—

FCF Margin

—

P/S

—

P/E

—

Earnings Reports

Q4 2025

May 7, 2026

PENDING

Q3 2025

Nov 13, 2025

$0EPS -$0.60

Q2 2025

Aug 6, 2025

$0EPS -$0.78

Q1 2025

May 8, 2025

$0EPS -$0.90

FY 2024

Mar 11, 2025

$0+100.0%EPS -$6.58

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 21	$2M	$2M	-$31M
Q4 21	$802.0K	-$2M	-$34M
Q1 22	$802.0K	$257.0K	-$38M
Q2 22	$802.0K	$16.0K	-$28M
Q3 22	$802.0K	$167.0K	-$33M
Q1 23	$3M	$3M	-$7M
Q2 23	$3M	$3M	-$7M
Q3 23	$2M	$2M	-$8M
Q4 23	-$15M	-$15M	-$26M
Q1 24	$0	-$123.0K	-$15M
Q2 24	$0	-$121.0K	-$18M
Q3 24	$0	$0	-$19M
Q4 24	$0	-$120.0K	-$15M
Q1 25	$0	$0	-$12M
Q2 25	$0	-$91.0K	-$9M
Q3 25	$0	$0	-$8M

Valuation

Quarter	P/S	P/E
Q3 21	2.3x	—
Q4 21	2.3x	—
Q1 22	14.3x	—
Q2 22	19.1x	—
Q3 22	24.3x	—
Q1 23	14.6x	3.5x
Q2 23	10.1x	—
Q3 23	8.8x	—
Q4 23	—	—
Q1 24	—	—
Q2 24	—	—
Q3 24	—	—
Q4 24	—	—
Q1 25	—	—
Q2 25	—	—
Q3 25	—	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 21	-$25M	-$26M
Q4 21	-$30M	-$31M
Q1 22	-$31M	-$32M
Q2 22	-$31M	-$31M
Q3 22	-$25M	-$25M
Q1 23	-$12M	-$13M
Q2 23	$2M	$2M
Q3 23	$16M	$16M
Q4 23	-$11M	-$11M
Q1 24	-$15M	-$15M
Q2 24	-$22M	-$22M
Q3 24	-$20M	-$20M
Q4 24	-$11M	-$11M
Q1 25	-$12M	-$12M
Q2 25	-$11M	-$11M
Q3 25	-$4M	-$4M

Capital Expenditures

Quarter	CapEx
Q3 21	$477.0K
Q4 21	$338.0K
Q1 22	$1M
Q2 22	$121.0K
Q3 22	$6.0K
Q1 23	$5.0K
Q2 23	$224.0K
Q3 23	$1.0K
Q4 23	$0
Q1 24	$0
Q2 24	$15.0K
Q3 24	$58.0K
Q4 24	$2.0K
Q1 25	$0
Q2 25	$0
Q3 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 21	+195.8%	+12.1%
Q4 21	-18.2%	+11.8%
Q1 22	-97.3%	+26.3%
Q2 22	-63.3%	-11.1%
Q3 22	-52.2%	+4.1%
Q1 23	+267.5%	-70.0%
Q2 23	+299.6%	-72.7%
Q3 23	+131.8%	-66.8%
Q4 23	-1928.2%	-66.9%
Q1 24	-100.0%	+43.8%
Q2 24	-100.0%	+71.0%
Q3 24	-100.0%	+94.8%
Q4 24	+100.0%	+30.3%
Q1 25	—	-17.6%
Q2 25	—	-48.8%
Q3 25	—	-59.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 21	$0	0.0%
Q4 21	$0	0.0%
Q1 22	$0	0.0%
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q1 23	$296.0K	10.0%
Q2 23	$0	0.0%
Q3 23	$301.0K	16.2%
Q4 23	$0	—
Q1 24	$417.0K	—
Q2 24	$1M	—
Q3 24	$1M	—
Q4 24	$1M	—
Q1 25	$1M	—
Q2 25	$1M	—
Q3 25	$1M	—

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q3 21	$24M	—	$6M
Q4 21	$24M	—	$8M
Q1 22	$24M	—	$14M
Q2 22	$21M	—	$7M
Q3 22	$26M	—	$7M
Q1 23	$8M	—	$2M
Q2 23	$8M	—	$2M
Q3 23	$7M	—	$2M
Q4 23	$8M	$3M	—
Q1 24	$10M	$5M	—
Q2 24	$13M	$5M	—
Q3 24	$14M	$4M	—
Q4 24	$11M	$4M	—
Q1 25	$7M	$5M	—
Q2 25	$5M	$4M	—
Q3 25	$4M	—	$4M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$248M	$8M	$256M
Q2 22	$176M	$49M	$226M
Q3 22	$43M	$158M	$201M
Q4 22	$34M	$141M	$175M
Q1 23	$39M	$111M	$150M
Q2 23	$77M	$50M	$127M
Q3 23	$36M	$0	$36M
Q4 23	$26M	$0	$26M
Q1 24	$116M	$20M	$135M
Q2 24	$98M	$10M	$108M
Q3 24	$89M	$0	$89M
Q4 24	$78M	$0	$78M
Q1 25	$65M	$0	$65M
Q2 25	$55M	$0	$55M
Q3 25	$49M	$0	$49M
Q4 25	$48M	$0	$48M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 21	3M	+1.1%	+26.3%
Q4 21	3M	+0.1%	+18.8%
Q1 22	3M	+1.3%	+14.9%
Q2 22	3M	-0.8%	+1.6%
Q3 22	3M	+0.1%	+0.6%
Q1 23	3M	+0.5%	+1.0%
Q2 23	3M	+0.1%	-0.1%
Q3 23	3M	+0.1%	+0.8%
Q4 23	3M	+0.3%	+1.0%
Q1 24	12M	+270.5%	+272.4%
Q2 24	12M	+0.2%	+272.6%
Q3 24	12M	+0.9%	+275.7%
Q4 24	12M	+1.0%	+278.4%
Q1 25	12M	0.0%	+2.1%
Q2 25	12M	0.0%	+2.0%
Q3 25	12M	+0.4%	+1.4%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 21	$8.2K	205
Q4 21	$3.6K	224
Q1 22	$3.6K	224
Q2 22	$3.6K	224
Q3 22	$3.6K	224
Q1 23	$32.0K	92
Q2 23	$34.8K	92
Q3 23	$20.2K	92
Q4 23	-$2M	7
Q1 24	$0	7
Q2 24	$0	7
Q3 24	$0	7
Q4 24	$0	42
Q1 25	$0	42
Q2 25	$0	42
Q3 25	$0	42

Revenue / Employee