VSTM

MKT CAP:$414M

Verastem, Inc.

Market Cap

$414M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$6.07-$1.16 (-16.04%)

Apr 22, 2026

Company Details

Verastem, Inc., a development-stage biopharmaceutical company, focusing on developing and commercializing drugs for the treatment of cancer. Its product in development includes VS-6766, a dual rapidly accelerated fibrosarcoma (RAF)/mitogen-...

CEO

Daniel W. Paterson

IPO Date

Jan 27, 2012

Website

www.verastem.com

Key Metrics TTM

Revenue

$31M

+209.1% YoY

Net Income

-$209M

EPS (Diluted)

-$3.32

Free Cash Flow

-$138M

Revenue / Share

$0.37

Gross Margin

83.8%

Operating Margin

-550.3%

Net Margin

-677.6%

FCF Margin

-444.8%

P/S

13.4x

P/E

—

Earnings Reports

Q1 2026

May 12, 2026

PENDING

FY 2025

Mar 4, 2026

$31M+209.1%EPS -$3.02

Q4 2025

Mar 4, 2026

$18MEPS -$0.39

Q3 2025

Nov 4, 2025

$11MEPS -$1.35

Q2 2025

Aug 7, 2025

$2M-78.6%EPS -$0.62

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$3M	$3M	-$17M
Q2 22	$0	$0	-$21M
Q3 22	$0	$0	-$18M
Q4 22	$0	$0	-$17M
Q1 23	$0	$0	-$19M
Q2 23	$0	$0	-$20M
Q3 23	$0	$0	-$21M
Q4 23	$0	$0	-$31M
Q1 24	$0	$0	-$28M
Q2 24	$10M	$10M	-$18M
Q3 24	$0	$0	-$37M
Q4 24	$0	$0	-$32M
Q1 25	$0	$0	-$44M
Q2 25	$2M	$2M	-$44M
Q3 25	$11M	$10M	-$41M
Q4 25	$18M	$15M	-$41M

Valuation

Quarter	P/S	P/E
Q1 22	113.6x	—
Q2 22	131.7x	—
Q3 22	131.7x	—
Q4 22	159.4x	—
Q1 23	—	—
Q2 23	—	—
Q3 23	—	—
Q4 23	—	—
Q1 24	—	—
Q2 24	41.4x	—
Q3 24	41.4x	—
Q4 24	41.4x	—
Q1 25	41.4x	—
Q2 25	193.6x	—
Q3 25	30.9x	—
Q4 25	13.4x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$19M	-$19M
Q2 22	-$13M	-$13M
Q3 22	-$15M	-$15M
Q4 22	-$17M	-$17M
Q1 23	-$20M	-$20M
Q2 23	-$20M	-$20M
Q3 23	-$17M	-$17M
Q4 23	-$30M	-$30M
Q1 24	-$28M	-$28M
Q2 24	-$28M	-$28M
Q3 24	-$24M	-$24M
Q4 24	-$25M	-$25M
Q1 25	-$39M	-$39M
Q2 25	-$33M	-$33M
Q3 25	-$36M	-$36M
Q4 25	-$30M	-$30M

Capital Expenditures

Quarter	CapEx
Q1 22	$0
Q2 22	$0
Q3 22	$0
Q4 22	$0
Q1 23	$0
Q2 23	$0
Q3 23	$0
Q4 23	$0
Q1 24	$21.0K
Q2 24	$7.0K
Q3 24	$0
Q4 24	$0
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	+158.1%	+29.5%
Q2 22	-100.0%	+30.2%
Q3 22	-100.0%	+19.3%
Q4 22	-100.0%	-1.2%
Q1 23	-100.0%	-1.2%
Q2 23	—	-5.2%
Q3 23	—	+20.3%
Q4 23	—	+84.8%
Q1 24	—	+45.1%
Q2 24	—	+39.4%
Q3 24	—	+73.8%
Q4 24	—	+1.4%
Q1 25	—	+57.4%
Q2 25	-78.6%	+62.3%
Q3 25	—	+40.3%
Q4 25	—	+86.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$2M	63.4%
Q2 22	$2M	—
Q3 22	$1M	—
Q4 22	$1M	—
Q1 23	$1M	—
Q2 23	$1M	—
Q3 23	$2M	—
Q4 23	$2M	—
Q1 24	$1M	—
Q2 24	$2M	19.1%
Q3 24	$2M	—
Q4 24	$2M	—
Q1 25	$2M	—
Q2 25	$3M	159.7%
Q3 25	$2M	19.4%
Q4 25	$2M	11.5%

OpEx Breakdown

Quarter	R&D	SG&A
Q1 22	$14M	$6M
Q2 22	$15M	$7M
Q3 22	$11M	$6M
Q4 22	$11M	$6M
Q1 23	$12M	$7M
Q2 23	$13M	$7M
Q3 23	$14M	$7M
Q4 23	$23M	$9M
Q1 24	$18M	$10M
Q2 24	$18M	$10M
Q3 24	$25M	$12M
Q4 24	$21M	$11M
Q1 25	$29M	$15M
Q2 25	$25M	$21M
Q3 25	$29M	$21M
Q4 25	$32M	$24M

Revenue Segments

Quarter	Sale of COPIKTRA license and related assets
Q1 22	$3M
Q2 22	$3M
Q3 22	$3M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$47M	$60M	$106M
Q2 22	$64M	$30M	$94M
Q3 22	$78M	$26M	$104M
Q4 22	$75M	$13M	$88M
Q1 23	$97M	$14M	$111M
Q2 23	$183M	$0	$183M
Q3 23	$95M	$71M	$166M
Q4 23	$78M	$59M	$137M
Q1 24	$81M	$29M	$110M
Q2 24	$83M	$0	$83M
Q3 24	$113M	$0	$113M
Q4 24	$89M	$0	$89M
Q1 25	$118M	$0	$118M
Q2 25	$164M	$0	$164M
Q3 25	$138M	$0	$138M
Q4 25	$205M	$0	$205M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	16M	+2.0%	+8.6%
Q2 22	16M	+0.1%	+8.4%
Q3 22	16M	+5.7%	+9.6%
Q4 22	17M	+3.7%	+11.9%
Q1 23	17M	-1.9%	+7.7%
Q2 23	18M	+6.0%	+14.1%
Q3 23	27M	+51.1%	+63.1%
Q4 23	27M	+0.1%	+57.3%
Q1 24	27M	+0.1%	+60.4%
Q2 24	27M	+0.1%	+51.5%
Q3 24	40M	+49.9%	+50.3%
Q4 24	38M	-5.6%	+41.7%
Q1 25	54M	+42.6%	+101.9%
Q2 25	74M	+36.7%	+175.6%
Q3 25	73M	-1.2%	+81.7%
Q4 25	83M	+14.0%	+119.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$54.1K	48
Q2 22	$0	48
Q3 22	$0	48
Q4 22	$0	57
Q1 23	$0	57
Q2 23	$0	57
Q3 23	$0	57
Q4 23	$0	73
Q1 24	$0	73
Q2 24	$137.0K	73
Q3 24	$0	73
Q4 24	$0	78
Q1 25	$0	78
Q2 25	$27.4K	78
Q3 25	$144.1K	78
Q4 25	$171.9K	102

Revenue / Employee