Revenue volatility remains high, with a 68.6% year-over-year growth in 2026Q1 contrasting sharply against a 97.5% decline in 2025Q4, while gross margins remain structurally pressured at -33.5% as of 2026Q1.
| Sales/Revenue | 4.1M | 3.51M | 35M | 370M | 436K | 913.08M | 719K | 289.59M | 3.12M | 41M | 5.16M | 247K | 0 |
| Revenue Growth % | -88.91% | -89.97% | -90.54% | 84762.39% | -99.95% | 126893.18% | -99.75% | 9169.85% | -92.38% | 693.9% | 1990.69% | - | - |
| Cost of Goods Sold | 224.06M | 232.96M | 110.25M | 130.25M | 110.25M | 101.18M | 269.41M | 179.36M | 113.77M | 69.8M | 42.24M | 12.57M | 1.51M |
| COGS % of Revenue | - | 6637.01% | 315% | 35.2% | 25286.7% | 11.08% | 37469.68% | 61.94% | 3641.9% | 170.26% | 817.93% | 5090.28% | - |
| Gross Profit | -219.96M | -229.45M | -75.25M | 239.75M | -109.81M | 811.9M | -268.69M | 110.23M | -110.65M | -28.8M | -37.07M | -12.33M | -1.51M |
| Gross Margin % | -5360.86% | -6537.01% | -215% | 64.8% | -25186.7% | 88.92% | -37369.68% | 38.06% | -3541.9% | -70.26% | -717.93% | -4990.28% | - |
| Gross Profit Growth % | - | -204.92% | -131.39% | 318.32% | -113.53% | 402.17% | -343.76% | 199.62% | -284.16% | 22.31% | -200.78% | -714.67% | - |
| Operating Expenses | 330.19M | 338.87M | 391.32M | 462.29M | 563.35M | 438.38M | 85.75M | 63.49M | 162.07M | 105.64M | 73.29M | 25.98M | 6.63M |
| OpEx % of Revenue | - | 9654.39% | 1118.05% | 124.94% | 129208.03% | 48.01% | 11925.87% | 21.92% | 5187.8% | 257.69% | 1419.33% | 10516.6% | - |
| Selling, General & Admin | 71.43M | 73.54M | 72.98M | 76.16M | 102.46M | 99.69M | 85.75M | 63.49M | 48.29M | 35.84M | 31.06M | 13.4M | 5.11M |
| SG&A % of Revenue | - | 2095.21% | 208.51% | 20.58% | 23500.92% | 10.92% | 11925.87% | 21.92% | 1545.9% | 87.43% | 601.39% | 5426.32% | - |
| Research & Development | 270.63M | 265.33M | 320.65M | 387.33M | 461.64M | 340.57M | 221.38M | 179.36M | 113.77M | 69.8M | 42.24M | 12.57M | 1.51M |
| R&D % of Revenue | - | 7559.17% | 916.15% | 104.68% | 105881.88% | 37.3% | 30790.26% | 61.94% | 3641.9% | 170.26% | 817.93% | 5090.28% | - |
| Other Operating Expenses | -2M | 0 | -2.31M | -1.21M | -762K | -1.88M | -221.38M | -179.36M | -5.49M | -197K | 78.51M | 16K | -236K |
| Operating Income | -550.14M | -568.32M | -466.57M | -222.54M | -673.16M | 373.53M | -354.44M | 46.74M | -158.94M | -64.65M | -68.13M | -25.73M | -6.63M |
| Operating Margin % | -13408.29% | -16191.4% | -1333.05% | -60.15% | -154394.72% | 40.91% | -49295.55% | 16.14% | -5087.8% | -157.69% | -1319.33% | -10416.6% | - |
| Operating Income Growth % | - | -21.81% | -109.66% | 66.94% | -280.22% | 205.39% | -858.31% | 129.41% | -145.86% | 5.11% | -164.8% | -288.25% | - |
| EBITDA | -531.13M | -548.84M | -447.31M | -202.7M | -648.99M | 391.48M | -345.25M | 51.47M | -155.42M | -61.62M | -67.13M | -25.6M | -6.59M |
| EBITDA Margin % | -12944.89% | -15636.44% | -1278.02% | -54.78% | -148850.69% | 42.87% | -48018.22% | 17.77% | -4975.16% | -150.31% | -1299.96% | -10365.18% | - |
| EBITDA Growth % | -16.67% | -22.7% | -120.67% | 68.77% | -265.78% | 213.39% | -770.85% | 133.11% | -152.21% | 8.2% | -162.21% | -288.56% | - |
| D&A (Non-Cash Add-back) | 19.01M | 19.48M | 19.26M | 19.84M | 24.17M | 17.95M | 9.18M | 4.72M | 3.52M | 3.02M | 1M | 127K | 38K |
| EBIT | -523.9M | -568.32M | -466.57M | -222.54M | -673.16M | 373.53M | -354.44M | 46.74M | -158.94M | -64.65M | -14.67M | -25.71M | -6.86M |
| Net Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -8.05M | -108K | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - | 0 | 0 | 8.05M | 108K | 0 |
| Other Income/Expense | -15.03M | -9.65M | 103.9M | 71.82M | 22.66M | 6M | 6.38M | 20.57M | -5.49M | -1.96M | 45.41M | -92K | -236K |
| Pretax Income | -565.17M | -577.97M | -362.67M | -150.72M | -650.5M | 379.53M | -348.06M | 67.31M | -164.43M | -66.61M | -22.72M | -25.82M | -6.86M |
| Pretax Margin % | -13774.56% | -16466.24% | -1036.19% | -40.74% | -149197.25% | 41.57% | -48408.34% | 23.24% | -5263.38% | -162.47% | -439.93% | -10453.85% | - |
| Income Tax | 3.36M | 3.63M | 3.59M | 2.89M | -325K | 1.87M | 809K | 448K | 553K | 1.75M | 484K | 7K | -63K |
| Effective Tax Rate % | -0.6% | -0.63% | -0.99% | -1.92% | 0.05% | 0.49% | -0.23% | 0.67% | -0.34% | -2.63% | -2.13% | -0.03% | 0.92% |
| Net Income | -568.53M | -581.6M | -366.25M | -153.61M | -650.17M | 377.66M | -348.87M | 66.86M | -164.98M | -68.36M | -23.2M | -25.83M | -6.8M |
| Net Margin % | -13856.54% | -16569.77% | -1046.43% | -41.52% | -149122.71% | 41.36% | -48520.86% | 23.09% | -5281.08% | -166.74% | -449.3% | -10456.68% | - |
| Net Income Growth % | -47.42% | -58.8% | -138.43% | 76.37% | -272.16% | 208.25% | -621.8% | 140.52% | -141.35% | -194.62% | 10.17% | -279.82% | - |
| Net Income (Continuing) | -568.53M | -581.6M | -366.25M | -153.61M | -650.17M | 377.66M | -348.87M | 66.86M | -164.98M | -68.36M | -23.2M | -25.83M | -6.8M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -27K | 143K |
| EPS (Diluted) | -5.92 | -6.47 | -4.34 | -1.94 | -8.36 | 4.70 | -5.29 | 1.17 | -3.44 | -1.71 | -1.89 | -0.88 | -0.23 |
| EPS Growth % | -37.61% | -49.08% | -123.71% | 76.79% | -277.87% | 188.85% | -552.14% | 134.01% | -101.17% | 9.52% | -114.77% | -282.61% | - |
| EPS (Basic) | - | -6.47 | -4.34 | -1.94 | -8.36 | 4.97 | -5.29 | 1.23 | -3.44 | -1.71 | -1.89 | -0.88 | -0.23 |
| Diluted Shares Outstanding | 96.05M | 89.93M | 84.36M | 79.22M | 77.75M | 80.39M | 65.95M | 56.93M | 47.96M | 40.06M | 12.26M | 29.3M | 29.3M |
| Basic Shares Outstanding | 96.05M | 89.93M | 84.36M | 79.22M | 77.75M | 75.95M | 65.95M | 54.39M | 47.96M | 39.97M | 12.26M | 29.3M | 29.3M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - |
Clinical and Commercial Execution
As evidenced by the quarterly income statements, CRSP's revenue remains highly erratic, with a 68.6% year-over-year growth in 2026Q1 following a 97.5% decline in 2025Q4, reflecting the lumpy nature of milestone-based payments rather than consistent commercial product adoption or sustainable organic growth trends.
The reliance on collaboration milestones creates significant quarter-to-quarter revenue swings that obscure the company's actual commercial trajectory. Investors should monitor the transition from milestone-dependent income to recurring profit-sharing, as current figures suggest the business has yet to achieve a predictable revenue baseline.
Based on reported financial filings, the company's gross margins have frequently dipped into negative territory, including a -33.5% margin in 2026Q1, which highlights the substantial costs associated with manufacturing and clinical trial infrastructure that currently outweigh the limited revenue generated from its therapeutic pipeline.
The persistent negative gross margins indicate that the cost of goods sold is heavily burdened by the complex logistics of autologous gene therapy. Until the company achieves greater manufacturing scale or shifts toward more efficient allogeneic platforms, margin improvement will likely remain elusive.
According to recent income statement data, operating expenses continue to dwarf gross profit, with R&D spending consistently exceeding $50 million per quarter, preventing the company from achieving operating leverage despite the recent regulatory validation of its lead CRISPR/Cas9 platform and associated commercialization efforts.
The company's inability to scale operating income relative to its gross profit suggests that the current cost structure is fundamentally tied to high-intensity research and development. This indicates that profitability is unlikely in the near term without a significant reduction in clinical trial overhead or a massive revenue inflection.
As reported in financial statements, R&D remains the primary driver of the company's cash burn, with quarterly expenditures frequently surpassing $70 million, reflecting a strategic commitment to advancing its pipeline that continues to outpace the company's ability to generate self-sustaining commercial revenue.
Management's expense discipline appears focused on long-term pipeline development rather than short-term cost containment. While this is typical for a clinical-stage biotech, the lack of a clear path to cost-efficient operations warrants further investigation into the sustainability of current funding levels.
Based on the provided income statement history, the company's reliance on equity-based funding and milestone payments creates a precarious financial profile, as the consistent net losses and negative operating margins suggest that the current business model may be unsustainable without continuous external capital injections.
Short-sellers would likely focus on the widening gap between R&D spending and commercial revenue, questioning the timeline for achieving cash-flow neutrality. The reliance on Vertex for commercial infrastructure may limit the company's long-term margin potential, potentially capping the upside for equity holders.
Quick answers to the most common questions about buying CRSP stock.
For fiscal year 2025, CRISPR Therapeutics AG (CRSP) reported total revenue of $3.5M.
CRISPR Therapeutics AG (CRSP) reported a net loss of $581.6M for the fiscal year ending 2025.
CRISPR Therapeutics AG (CRSP) reported an operating income of $-568.3M, resulting in an operating profit margin of -16191.4%. This margin reflects the operational efficiency of the business before interest and taxes.
CRISPR Therapeutics AG (CRSP) generated $-229.4M in gross profit for the year, representing a gross profit margin of -6537.0%. This demonstrates the company's core pricing power and production efficiency.