RAPT

MKT CAP:$959M

RAPT Therapeutics, Inc.

Market Cap

$959M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$58.01+$26.16 (+82.14%)

Mar 6, 2026

Company Details

RAPT Therapeutics, Inc., a clinical-stage immunology-based biopharmaceutical company, focuses on discovering, developing, and commercializing oral small molecule therapies for patients with unmet needs in oncology and inflammatory diseases....

CEO

Brian Russell Wong

IPO Date

Oct 31, 2019

Website

www.rapt.com

Key Metrics TTM

Revenue

$0

— YoY

Net Income

-$106M

EPS (Diluted)

-$11.07

Free Cash Flow

-$87M

Revenue / Share

$0.00

Gross Margin

—

Operating Margin

—

Net Margin

—

FCF Margin

—

P/S

—

P/E

—

Earnings Reports

Q3 2025

Nov 6, 2025

$0EPS -$0.65

Q2 2025

Aug 7, 2025

$0EPS -$0.65

Q1 2025

May 8, 2025

$0EPS -$0.64

FY 2024

Mar 6, 2025

$0EPS -$25.49

Q4 2024

Mar 6, 2025

$0EPS -$9.12

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 21	$756.0K	$756.0K	-$18M
Q1 22	$641.0K	$641.0K	-$21M
Q2 22	$886.0K	$886.0K	-$19M
Q3 22	$0	$0	-$22M
Q4 22	$0	$0	-$24M
Q1 23	$0	$0	-$32M
Q2 23	$0	$0	-$28M
Q3 23	$0	$0	-$34M
Q4 23	$0	$0	-$33M
Q1 24	$0	-$314.0K	-$33M
Q2 24	$0	$0	-$29M
Q3 24	$0	$0	-$20M
Q4 24	$0	$0	-$54M
Q1 25	$0	$0	-$19M
Q2 25	$0	-$200.0K	-$20M
Q3 25	$0	$0	-$19M

Valuation

Quarter	P/S	P/E
Q4 21	251.6x	—
Q1 22	296.8x	—
Q2 22	295.2x	—
Q3 22	420.2x	—
Q4 22	628.2x	—
Q1 23	1082.7x	—
Q2 23	—	—
Q3 23	—	—
Q4 23	—	—
Q1 24	—	—
Q2 24	—	—
Q3 24	—	—
Q4 24	—	—
Q1 25	—	—
Q2 25	—	—
Q3 25	—	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	-$21M	-$21M
Q1 22	-$16M	-$16M
Q2 22	-$15M	-$16M
Q3 22	-$17M	-$17M
Q4 22	-$23M	-$23M
Q1 23	-$19M	-$19M
Q2 23	-$29M	-$29M
Q3 23	-$22M	-$22M
Q4 23	-$28M	-$28M
Q1 24	-$27M	-$27M
Q2 24	-$28M	-$28M
Q3 24	-$18M	-$18M
Q4 24	-$10M	-$10M
Q1 25	-$52M	-$52M
Q2 25	-$11M	-$11M
Q3 25	-$12M	-$12M

Capital Expenditures

Quarter	CapEx
Q4 21	$394.0K
Q1 22	$149.0K
Q2 22	$566.0K
Q3 22	$81.0K
Q4 22	$49.0K
Q1 23	$759.0K
Q2 23	$233.0K
Q3 23	$66.0K
Q4 23	$67.0K
Q1 24	$105.0K
Q2 24	$1.0K
Q3 24	$17.0K
Q4 24	$1.0K
Q1 25	$43.0K
Q2 25	$40.0K
Q3 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	-41.9%	+30.6%
Q1 22	-47.5%	+20.4%
Q2 22	+2.0%	+16.8%
Q3 22	-100.0%	+11.2%
Q4 22	-100.0%	+30.0%
Q1 23	-100.0%	+47.4%
Q2 23	-100.0%	+43.3%
Q3 23	—	+56.5%
Q4 23	—	+36.0%
Q1 24	—	+3.0%
Q2 24	—	+3.4%
Q3 24	—	-41.7%
Q4 24	—	+64.0%
Q1 25	—	-40.8%
Q2 25	—	-33.4%
Q3 25	—	-2.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$2M	275.9%
Q1 22	$0	0.0%
Q2 22	$3M	301.6%
Q3 22	$3M	—
Q4 22	$3M	—
Q1 23	$0	—
Q2 23	$4M	—
Q3 23	$0	—
Q4 23	$4M	—
Q1 24	$5M	—
Q2 24	$5M	—
Q3 24	$5M	—
Q4 24	$5M	—
Q1 25	$5M	—
Q2 25	$5M	—
Q3 25	$5M	—

OpEx Breakdown

Quarter	R&D	G&A
Q4 21	$14M	$4M
Q1 22	$17M	$5M
Q2 22	$14M	$5M
Q3 22	$17M	$5M
Q4 22	$19M	$5M
Q1 23	$26M	$6M
Q2 23	$22M	$7M
Q3 23	$27M	$7M
Q4 23	$27M	$6M
Q1 24	$25M	$8M
Q2 24	$23M	$7M
Q3 24	$13M	$6M
Q4 24	$46M	$8M
Q1 25	$12M	$7M
Q2 25	$12M	$7M
Q3 25	$12M	$7M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 21	$24M	$166M	$190M
Q1 22	$32M	$141M	$173M
Q2 22	$57M	$150M	$207M
Q3 22	$28M	$168M	$195M
Q4 22	$39M	$210M	$249M
Q1 23	$46M	$186M	$232M
Q2 23	$50M	$155M	$205M
Q3 23	$54M	$131M	$185M
Q4 23	$47M	$111M	$159M
Q1 24	$45M	$96M	$142M
Q2 24	$37M	$78M	$115M
Q3 24	$38M	$60M	$98M
Q4 24	$170M	$61M	$231M
Q1 25	$60M	$119M	$179M
Q2 25	$42M	$127M	$169M
Q3 25	$38M	$119M	$157M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 21	4M	+0.2%	+20.2%
Q1 22	4M	+0.1%	+19.0%
Q2 22	4M	+5.3%	+21.7%
Q3 22	4M	+8.2%	+14.2%
Q4 22	4M	+6.0%	+20.8%
Q1 23	5M	+7.3%	+29.4%
Q2 23	5M	+0.1%	+23.1%
Q3 23	5M	+0.1%	+13.9%
Q4 23	5M	+0.1%	+7.5%
Q1 24	5M	+0.6%	+0.9%
Q2 24	5M	+0.6%	+1.4%
Q3 24	5M	+0.1%	+1.4%
Q4 24	6M	+20.0%	+21.6%
Q1 25	27M	+361.4%	+457.7%
Q2 25	27M	+0.1%	+454.7%
Q3 25	27M	+0.0%	+454.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 21	$9.3K	81
Q1 22	$7.9K	81
Q2 22	$10.9K	81
Q3 22	$0	81
Q4 22	$0	97
Q1 23	$0	97
Q2 23	$0	97
Q3 23	$0	97
Q4 23	$0	131
Q1 24	$0	131
Q2 24	$0	131
Q3 24	$0	131
Q4 24	$0	68
Q1 25	$0	68
Q2 25	$0	68
Q3 25	$0	68

Revenue / Employee