RAPP

MKT CAP:$1B

Rapport Therapeutics, Inc. Common Stock

Market Cap

$1B

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$36.36+$8.25 (+29.35%)

Apr 23, 2026

Company Details

Rapport Therapeutics, Inc., operates as a clinical-stage biopharmaceutical company that focuses on the discovery and development of transformational small molecule medicines for patients suffering from central nervous system (CNS) disorders...

CEO

Abraham N. Ceesay

IPO Date

Jun 7, 2024

Website

www.rapportrx.com

Key Metrics TTM

Revenue

$0

— YoY

Net Income

-$111M

EPS (Diluted)

-$2.30

Free Cash Flow

-$88M

Revenue / Share

$0.00

Gross Margin

—

Operating Margin

—

Net Margin

—

FCF Margin

—

P/S

—

P/E

—

Earnings Reports

Q1 2026

May 14, 2026

PENDING

FY 2025

Mar 10, 2026

$0EPS -$2.86

Q4 2025

Mar 10, 2026

$0EPS -$0.72

Q3 2025

Nov 6, 2025

$0EPS -$0.71

Q2 2025

Aug 7, 2025

$0EPS -$0.75

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 23	$0	-$15.0K	-$5M
Q2 23	$0	-$21.0K	-$7M
Q3 23	$0	$0	-$10M
Q4 23	$0	-$76.0K	-$15M
Q1 24	$0	-$152.0K	-$17M
Q2 24	$0	-$208.0K	-$21M
Q3 24	$0	$0	-$22M
Q4 24	$0	$0	-$24M
Q1 25	$0	$0	-$27M
Q2 25	$0	$0	-$29M
Q3 25	$0	$0	-$30M
Q4 25	$0	-$265.0K	-$39M

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	-$5M	-$5M
Q2 23	-$7M	-$7M
Q3 23	-$5M	-$5M
Q4 23	-$10M	-$12M
Q1 24	-$18M	-$19M
Q2 24	-$16M	-$17M
Q3 24	-$16M	-$17M
Q4 24	-$14M	-$15M
Q1 25	-$20M	-$21M
Q2 25	-$25M	-$25M
Q3 25	-$17M	-$18M
Q4 25	-$25M	-$25M

Capital Expenditures

Quarter	CapEx
Q1 23	$61.0K
Q2 23	$86.0K
Q3 23	$52.0K
Q4 23	$1M
Q1 24	$1M
Q2 24	$967.0K
Q3 24	$140.0K
Q4 24	$226.0K
Q1 25	$291.0K
Q2 25	$22.0K
Q3 25	$134.0K
Q4 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 24	—	+229.3%
Q2 24	—	+213.7%
Q3 24	—	+126.3%
Q4 24	—	+59.0%
Q1 25	—	+58.6%
Q2 25	—	+41.8%
Q3 25	—	+38.6%
Q4 25	—	+63.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$723.0K	—
Q2 23	$945.0K	—
Q3 23	$859.0K	—
Q4 23	$998.0K	—
Q1 24	$1M	—
Q2 24	$2M	—
Q3 24	$3M	—
Q4 24	$3M	—
Q1 25	$4M	—
Q2 25	$4M	—
Q3 25	$5M	—
Q4 25	$0	—

OpEx Breakdown

Quarter	R&D	G&A
Q1 23	$4M	$1M
Q2 23	$5M	$2M
Q3 23	$8M	$2M
Q4 23	$12M	$3M
Q1 24	$13M	$5M
Q2 24	$16M	$5M
Q3 24	$16M	$6M
Q4 24	$17M	$6M
Q1 25	$20M	$8M
Q2 25	$23M	$7M
Q3 25	$22M	$8M
Q4 25	$30M	$8M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 23	$70M	$77M	$147M
Q1 24	$74M	$119M	$193M
Q2 24	$110M	$226M	$336M
Q3 24	$39M	$281M	$321M
Q4 24	$57M	$248M	$305M
Q1 25	$58M	$228M	$285M
Q2 25	$55M	$205M	$260M
Q3 25	$251M	$262M	$513M
Q4 25	$53M	$438M	$491M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 23	19M	—	—
Q2 23	20M	+3.4%	—
Q3 23	19M	-5.1%	—
Q4 23	18M	-5.3%	—
Q1 24	19M	+7.6%	0.0%
Q2 24	20M	+3.4%	0.0%
Q3 24	19M	-4.7%	+0.4%
Q4 24	19M	+0.6%	+6.7%
Q1 25	19M	0.0%	-0.9%
Q2 25	35M	+83.8%	+76.2%
Q3 25	38M	+7.0%	+97.9%
Q4 25	47M	+23.9%	+143.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 23	—	—
Q2 23	—	—
Q3 23	—	—
Q4 23	—	—
Q1 24	—	—
Q2 24	—	—
Q3 24	—	—
Q4 24	$0	69
Q1 25	$0	69
Q2 25	$0	69
Q3 25	$0	69
Q4 25	$0	84

Revenue / Employee