Revenue remains highly erratic, characterized by a 100% sequential decline in 2026Q1 and gross margins that have swung from a 95% peak in 2025Q4 to negative double-digits.
| Sales/Revenue | 132.27M | 139.74M | 63.52M | 377.71M | 60.92M | 51.84M | 24K | 18K | 0 | 0 |
| Revenue Growth % | 108.05% | 120.01% | -83.18% | 520.01% | 17.51% | 215916.67% | 33.33% | - | - | - |
| Cost of Goods Sold | 217.19M | 22.29M | 367.56M | 0 | 311.59M | 232.13M | 103.18M | 54.62M | 33.87M | 0 |
| COGS % of Revenue | - | 15.95% | 578.67% | - | 511.48% | 447.75% | 429912.5% | 303438.89% | - | - |
| Gross Profit | -84.92M | 117.45M | -304.04M | 377.71M | -250.67M | -180.29M | -103.16M | -54.6M | -33.87M | 0 |
| Gross Margin % | -64.2% | 84.05% | -478.67% | 100% | -411.48% | -347.75% | -429812.5% | -303338.89% | - | - |
| Gross Profit Growth % | - | 138.63% | -180.5% | 250.68% | -39.04% | -74.78% | -88.93% | -61.19% | - | - |
| Operating Expenses | 318.44M | 501.14M | 111.53M | 554.19M | 87.81M | 212.18M | 29.6M | 20.55M | 11.87M | 8.6M |
| OpEx % of Revenue | - | 358.62% | 175.58% | 146.73% | 144.13% | 409.26% | 123354.16% | 114183.33% | - | - |
| Selling, General & Admin | 114.64M | 113.82M | 111.53M | 116.81M | 87.81M | 57.22M | 29.61M | 20.55M | 11.87M | 2.2M |
| SG&A % of Revenue | - | 81.45% | 175.58% | 30.93% | 144.13% | 110.37% | 123354.17% | 114183.33% | - | - |
| Research & Development | 415.33M | 409.62M | 367.56M | 437.38M | 311.59M | 387.09M | 103.18M | 54.62M | 33.87M | 5.86M |
| R&D % of Revenue | - | 293.12% | 578.67% | 115.8% | 511.48% | 746.64% | 429912.5% | 303438.89% | - | - |
| Other Operating Expenses | -2M | -22.29M | -367.56M | 0 | -311.59M | -232.13M | -103.18M | -54.62M | -33.87M | 0 |
| Operating Income | -371.62M | -383.69M | -415.57M | -176.49M | -338.48M | -392.46M | -132.76M | -75.15M | -45.74M | -8.6M |
| Operating Margin % | -280.95% | -274.57% | -654.25% | -46.73% | -555.61% | -757.01% | -553166.66% | -417522.22% | - | - |
| Operating Income Growth % | - | 7.67% | -135.47% | 47.86% | 13.76% | -195.62% | -76.65% | -64.3% | -432.1% | - |
| EBITDA | -354.86M | -377.36M | -393.64M | -146.95M | -324.33M | -385.01M | -128.03M | -71.65M | -45.09M | -8.58M |
| EBITDA Margin % | -268.28% | -270.04% | -619.73% | -38.91% | -532.39% | -742.64% | -533437.5% | -398061.11% | - | - |
| EBITDA Growth % | 13.17% | 4.14% | -167.87% | 54.69% | 15.76% | -200.73% | -78.68% | -58.9% | -425.27% | - |
| D&A (Non-Cash Add-back) | 16.77M | 6.34M | 21.93M | 29.53M | 14.15M | 7.45M | 4.73M | 3.5M | 650K | 12K |
| EBIT | 22.06M | -36.26M | -415.57M | -176.49M | -338.48M | -237.51M | -132.76M | -75.15M | -45.74M | -8.6M |
| Net Interest Income | -9.6M | -43.73M | 49.09M | 0 | 0 | 0 | 1.57M | 2.3M | 0 | 0 |
| Interest Income | 10.9M | 0 | 49.09M | 0 | 0 | 0 | 1.57M | 2.49M | 292K | 0 |
| Interest Expense | 20.51M | 43.73M | 0 | 0 | 0 | 0 | 0 | 187K | 0 | 0 |
| Other Income/Expense | 306.58M | 303.7M | 38.87M | 45.32M | 52.8M | 21.83M | -61.83M | -3.17M | -71M | -133.09K |
| Pretax Income | -65.04M | -79.99M | -376.7M | -131.16M | -285.68M | -370.64M | -194.59M | -78.33M | -116.74M | -8.73M |
| Pretax Margin % | -49.17% | -57.24% | -593.07% | -34.73% | -468.94% | -714.91% | -810800% | -435144.44% | - | - |
| Income Tax | 0 | 0 | 39K | 1.37M | 3.41M | 0 | 0 | 0 | 0 | 500K |
| Effective Tax Rate % | 0% | 0% | -0.01% | -1.04% | -1.19% | 0% | 0% | 0% | 0% | -5.73% |
| Net Income | -65.04M | -79.99M | -376.74M | -132.53M | -289.09M | -370.64M | -194.59M | -78.33M | -115.26M | -8.73M |
| Net Margin % | -49.17% | -57.24% | -593.13% | -35.09% | -474.54% | -714.91% | -810800% | -435144.44% | - | - |
| Net Income Growth % | 83.21% | 78.77% | -184.28% | 54.16% | 22% | -90.47% | -148.44% | 32.04% | -1220.32% | - |
| Net Income (Continuing) | -65.04M | -79.99M | -376.74M | -132.53M | -289.09M | -370.64M | -194.59M | -78.33M | -116.74M | -8.73M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.63 | -0.81 | -4.58 | -1.72 | -4.13 | -5.77 | -5.49 | -1.53 | -3.28 | -0.62 |
| EPS Growth % | 85.25% | 82.31% | -166.28% | 58.35% | 28.42% | -5.1% | -258.82% | 53.35% | -429.03% | - |
| EPS (Basic) | - | -0.81 | -4.58 | -1.72 | -4.13 | -5.77 | -5.49 | -1.53 | -3.28 | -0.62 |
| Diluted Shares Outstanding | 103.26M | 98.91M | 82.31M | 77.15M | 70.02M | 64.23M | 46.73M | 51.34M | 35.14M | 12.95M |
| Basic Shares Outstanding | 103.26M | 98.91M | 82.31M | 77.15M | 70.02M | 64.23M | 46.73M | 51.34M | 35.14M | 12.95M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - |
Clinical Milestone Revenue Volatility
As reported in financial statements, BEAM's revenue trajectory remains highly erratic, characterized by a 100% sequential decline in 2026Q1, reflecting the inherent instability of a business model entirely dependent on non-recurring collaboration milestones rather than consistent, scalable commercial product sales or recurring service-based income streams.
The absence of product revenue renders traditional growth metrics largely irrelevant, as top-line fluctuations are driven by the timing of contractual recognition rather than operational momentum. Investors should monitor the sustainability of these partnerships, as the lack of a diversified revenue base suggests significant exposure to the specific clinical success of individual pipeline assets.
Based on reported figures, the company's gross margin profile has exhibited extreme volatility, swinging from a 95% peak in 2025Q4 to negative double-digits in multiple periods, which underscores the lack of a stable, cost-efficient manufacturing foundation for its proprietary base-editing therapeutic platform.
The wide variance in gross margins suggests that the company's current cost structure is heavily influenced by the accounting treatment of R&D-heavy collaboration agreements. Until the firm transitions to a commercial manufacturing model, these margin swings will likely continue to obscure the true underlying economics of the base-editing technology.
According to recent SEC filings, BEAM maintains a rigid cost structure dominated by R&D expenditures that consistently exceed $90 million per quarter, indicating that the firm's primary capital allocation remains focused on clinical trial advancement rather than achieving near-term operational efficiency or expense discipline.
The persistent high level of R&D spending relative to revenue suggests that the company is prioritizing long-term platform validation over immediate profitability. This heavy reliance on specialized scientific personnel and infrastructure creates a high fixed-cost burden that may necessitate further capital raises if clinical milestones are delayed.
As evidenced by the 2025Q4 net income spike to $244.3 million, the company's bottom-line performance is frequently distorted by non-operating items and accounting adjustments, which complicates the assessment of true operational health and the underlying sustainability of the firm's current cash-burning trajectory.
The significant fluctuations in net income, often decoupled from operating performance, suggest that investors should focus on cash burn rather than GAAP earnings. The presence of substantial stock-based compensation further complicates the quality of earnings, as it represents a significant non-cash expense necessary to retain critical scientific talent.
While the company's base-editing platform offers theoretical advantages in precision, the market's focus on the competitive landscape for sickle cell disease suggests that BEAM may struggle to capture meaningful share against established first-generation CRISPR therapies, potentially limiting the long-term commercial viability of its lead programs.
Short-term investors may focus on the risk that the company's technical differentiation does not translate into a superior clinical profile or a faster regulatory path. The reliance on external partners for commercialization may also result in a lower-than-expected capture of the total addressable market value.
Quick answers to the most common questions about buying BEAM stock.
For fiscal year 2025, Beam Therapeutics Inc. (BEAM) reported total revenue of $139.7M.
Beam Therapeutics Inc. (BEAM) reported a net loss of $80.0M for the fiscal year ending 2025.
Beam Therapeutics Inc. (BEAM) reported an operating income of $-383.7M, resulting in an operating profit margin of -274.6%. This margin reflects the operational efficiency of the business before interest and taxes.
Beam Therapeutics Inc. (BEAM) generated $117.4M in gross profit for the year, representing a gross profit margin of 84.0%. This demonstrates the company's core pricing power and production efficiency.