RLAY (Relay Therapeutics, Inc.) Stock Financials & Earnings | Market Cap Arena

RLAY (Relay Therapeutics, Inc.) Stock Financials & Earnings | Market Cap Arena

RLAYRelay Therapeutics, Inc.

Mkt Cap$2B

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Revenue (TTM)$15M

Net Income (TTM)-$276M

EPS (TTM)-$1.62

Free Cash Flow (TTM)-$236M

Gross Margin91.2%

Op. Margin-1971.5%

Net Margin-1800.5%

FCF Margin-1536.0%

P/S Ratio (TTM)124.5x

P/E Ratio (TTM)—

YoY Rev Growth+53.5%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$226K	-$83M	-$101M
Q2 23	$119K	-$88M	-$106M
Q3 23	$25M	-$56M	-$74M
Q4 23	-$1K	-$1K	-$92M
Q1 24	$10M	$10M	-$90M
Q2 24	$0	$0	-$101M
Q3 24	$0	$0	-$96M
Q4 24	$0	$0	-$85M
Q1 25	$8M	$8M	-$85M
Q2 25	$677K	$677K	-$77M
Q3 25	$0	-$748K	-$80M
Q4 25	$7M	$6M	-$61M

Valuation

Quarter	P/S	P/E
Q1 23	1609.7x	—
Q2 23	2030.1x	—
Q3 23	74.1x	—
Q4 23	74.9x	—
Q1 24	54.1x	—
Q2 24	54.3x	—
Q3 24	191.1x	—
Q4 24	191.1x	—
Q1 25	249.0x	—
Q2 25	228.9x	—
Q3 25	228.9x	—
Q4 25	124.5x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	-$67M	-$69M
Q2 23	-$69M	-$70M
Q3 23	-$75M	-$76M
Q4 23	-$89M	-$89M
Q1 24	-$50M	-$52M
Q2 24	-$66M	-$66M
Q3 24	-$75M	-$75M
Q4 24	-$58M	-$58M
Q1 25	-$73M	-$74M
Q2 25	-$55M	-$55M
Q3 25	-$62M	-$62M
Q4 25	-$45M	-$45M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$2M
Q2 23	$2M
Q3 23	$590K
Q4 23	$118K
Q1 24	$2M
Q2 24	$11K
Q3 24	$227K
Q4 24	$0
Q1 25	$384K
Q2 25	$26K
Q3 25	$1K
Q4 25	$1K

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	-46.1%	+60.6%
Q2 23	-67.4%	+35.8%
Q3 23	+7226.2%	+14.5%
Q4 23	-100.4%	+26.1%
Q1 24	+4327.9%	-1.0%
Q2 24	-100.0%	-5.1%
Q3 24	-100.0%	-2.4%
Q4 24	+100.0%	-7.8%
Q1 25	-23.3%	-7.8%
Q2 25	—	-23.1%
Q3 25	—	-16.6%
Q4 25	—	-20.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$22M	9521.2%
Q2 23	$23M	19673.1%
Q3 23	$22M	86.6%
Q4 23	$19M	—
Q1 24	$27M	271.7%
Q2 24	$27M	—
Q3 24	$22M	—
Q4 24	$18M	—
Q1 25	$19M	251.7%
Q2 25	$15M	2141.8%
Q3 25	$16M	—
Q4 25	$13M	186.7%

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q1 23	$83M	$20M	—
Q2 23	$88M	$20M	—
Q3 23	$81M	$18M	—
Q4 23	$77M	$17M	—
Q1 24	$82M	$20M	—
Q2 24	$92M	$20M	—
Q3 24	$77M	$20M	—
Q4 24	$68M	$17M	—
Q1 25	$74M	$19M	—
Q2 25	$64M	$14M	—
Q3 25	$68M	—	$11M
Q4 25	$55M	$13M	—

Revenue Segments

Quarter	Operating Segments
Q2 25	$677K

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$161M	$777M	$938M
Q2 23	$146M	$726M	$872M
Q3 23	$151M	$659M	$811M
Q4 23	$144M	$606M	$750M
Q1 24	$153M	$597M	$750M
Q2 24	$134M	$554M	$688M
Q3 24	$152M	$687M	$840M
Q4 24	$124M	$657M	$781M
Q1 25	$94M	$617M	$710M
Q2 25	$114M	$543M	$657M
Q3 25	$92M	$505M	$596M
Q4 25	$84M	$0	$84M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	121M	+0.3%
Q2 23	122M	+0.3%
Q3 23	122M	+0.5%
Q4 23	123M	+0.3%
Q1 24	131M	+6.7%
Q2 24	133M	+1.5%
Q3 24	140M	+5.6%
Q4 24	167M	+19.3%
Q1 25	169M	+1.1%
Q2 25	171M	+1.2%
Q3 25	172M	+0.7%
Q4 25	172M	-0.5%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 18	—	—
FY 19	—	—
FY 20	$520K	159
FY 21	$12K	245
FY 22	$4K	327
FY 23	$79K	323
FY 24	$38K	261
FY 25	$90	170K