ORIC has no revenue, with R&D expenses rising from $22.0M in 2024Q1 to $36.3M in 2026Q2, leading to a net loss of $41.5M in 2026Q2, a 66% increase from $25.0M in 2024Q1.
ORIC Pharmaceuticals, Inc. (ORIC) annual income statement — 9-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 |
|---|
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | - | - | - | - | - | - | - | - | - |
| Cost of Goods Sold | 584K | 1.22M | 1.11M | 1.03M | 0 | 0 | 0 | 1M | 900K | 900K |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | -584K | -1.22M | -1.11M | -1.03M | 0 | 0 | 0 | -1M | -900K | -900K |
| Gross Margin % | - | - | - | - | - | - | - | - | - | - |
| Gross Profit Growth % | - | -10.21% | -7.27% | - | - | - | 100% | -11.11% | 0% | - |
| Operating Expenses | 155.55M | 141.78M | 141.79M | 109.75M | 91.77M | 78.87M | 74.19M | 27.57M | 22.37M | 21.64M |
| OpEx % of Revenue | - | - | - | - | - | - | - | - | - | - |
| Selling, General & Admin | 33.77M | 33.19M | 28.82M | 25.61M | 25.09M | 22.01M | 13.42M | 4.72M | 3.35M | 2.52M |
| SG&A % of Revenue | - | - | - | - | - | - | - | - | - | - |
| Research & Development | 122.36M | 109.82M | 114.07M | 85.17M | 61.68M | 56.86M | 60.76M | 22.84M | 19.03M | 19.13M |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | -584K | -1.22M | -1.11M | -1.03M | 5M | 0 | 0 | 0 | 233K | 0 |
| Operating Income | -156.14M | -143M | -142.9M | -110.78M | -91.77M | -78.87M | -74.19M | -28.57M | -22.37M | -22.54M |
| Operating Margin % | - | - | - | - | - | - | - | - | - | - |
| Operating Income Growth % | - | -0.08% | -28.99% | -20.72% | -16.35% | -6.32% | -159.67% | -27.71% | 0.75% | - |
| EBITDA | -155M | -141.78M | -141.79M | -109.75M | -90.8M | -77.97M | -73.22M | -27.57M | -21.47M | -21.64M |
| EBITDA Margin % | - | - | - | - | - | - | - | - | - | - |
| EBITDA Growth % | -4.38% | 0% | -29.19% | -20.87% | -16.45% | -6.5% | -165.57% | -28.4% | 0.79% | - |
| D&A (Non-Cash Add-back) | 1.14M | 1.22M | 1.11M | 1.03M | 966K | 897K | 970K | 1M | 900K | 900K |
| EBIT | -144.16M | -129.47M | -127.85M | -100.7M | -86.77M | -78.72M | -49.34M | -26.88M | -22.37M | -22.54M |
| Net Interest Income | 0 | 0 | 0 | 10.08M | 0 | 141K | 306K | 1.4M | 775K | 0 |
| Interest Income | 0 | 0 | 0 | 10.08M | 2.65M | 141K | 306K | 1.4M | 775K | 251K |
| Interest Expense | 0 | 0 | 0 | 0 | 2.65M | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 15.79M | 13.54M | 15.05M | 10.08M | 2.65M | 156K | 483K | 1.69M | 1.01M | 512K |
| Pretax Income | -140.35M | -129.47M | -127.85M | -100.7M | -89.12M | -78.72M | -73.7M | -26.88M | -21.36M | -22.03M |
| Pretax Margin % | - | - | - | - | - | - | - | - | - | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -140.35M | -129.47M | -127.85M | -100.7M | -89.12M | -78.72M | -73.7M | -26.88M | -21.36M | -22.03M |
| Net Margin % | - | - | - | - | - | - | - | - | - | - |
| Net Income Growth % | -2.26% | -1.27% | -26.96% | -12.99% | -13.22% | -6.8% | -174.16% | -25.84% | 3.02% | - |
| Net Income (Continuing) | -140.35M | -129.47M | -127.85M | -100.7M | -89.12M | -78.72M | -73.7M | -26.88M | -21.36M | -22.03M |
| 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) | -1.30 | -1.47 | -1.83 | -1.96 | -2.25 | -2.07 | -3.36 | -1.40 | -12.32 | -15.62 |
| EPS Growth % | 28.57% | 19.67% | 6.63% | 12.89% | -8.7% | 38.39% | -140% | 88.64% | 21.13% | - |
| EPS (Basic) | - | -1.47 | -1.83 | -1.96 | -2.25 | -2.07 | -3.36 | -1.40 | -12.32 | -15.62 |
| Diluted Shares Outstanding | 108.01M | 87.79M | 69.73M | 51.45M | 39.66M | 37.95M | 21.94M | 19.14M | 1.73M | 1.41M |
| Basic Shares Outstanding | 108.01M | 87.79M | 69.73M | 51.45M | 39.66M | 37.95M | 21.94M | 1.9M | 1.73M | 1.41M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying ORIC stock.
For fiscal year 2025, ORIC Pharmaceuticals, Inc. (ORIC) reported total revenue of $0.0M.
ORIC Pharmaceuticals, Inc. (ORIC) reported a net loss of $129.5M for the fiscal year ending 2025.
Key Metrics
Top Statement Risk
Cash burn sustainability
Metrics are mathematically derived from official filings.
Revenue Absent, Losses Deepen
ORIC has no product revenue, with R&D expenses climbing from $22.0M in 2024Q1 to $36.3M in 2026Q2, driving net losses to $41.5M, as per the latest quarterly report.
The company is pre-revenue, so growth is measured by expense escalation. R&D spending increased 65% over the period, indicating aggressive pipeline investment. However, the sequential increase in net loss from $35.8M to $41.5M suggests accelerating cash consumption, which may not be sustainable without additional financing.
R&D Dominates Cost Structure
R&D expenses constitute the bulk of operating costs, rising from $22.0M in 2024Q1 to $36.3M in 2026Q2, while SG&A remains modest at $9.0M, based on reported financials.
The R&D-to-SG&A ratio is roughly 4:1, typical for a clinical-stage biotech. The increase in R&D spending suggests advancement of clinical trials, but investors should monitor whether this translates into value-creating milestones. SG&A growth is slower, indicating disciplined overhead management.
SBC Adds to Cash Burn
Stock-based compensation (SBC) has risen from $5.0M in 2024Q1 to $7.1M in 2026Q2, representing roughly 17% of operating expenses, as disclosed in quarterly filings.
SBC is a non-cash expense but dilutes shareholders. The increasing SBC suggests that a portion of employee compensation is equity-based, which may be a deliberate strategy to conserve cash. However, the growing SBC could signal potential dilution ahead, and investors should factor this into valuation.
2025Q4 Marks Expense Surge
In 2025Q4, R&D jumped to $25.9M from $24.6M in the prior quarter, but the more notable inflection is the 41.2% year-over-year EPS growth, as per the income statement data.
The EPS growth in 2025Q4 is misleading because it reflects a smaller net loss compared to the prior year, not operational improvement. The sequential increase in R&D spending from 2025Q4 to 2026Q1 suggests a strategic pivot to accelerate clinical programs, which may have lasting impacts on cash runway.
Cash Burn Outpaces Progress
Despite no revenue, quarterly net losses have grown from $25.0M in 2024Q1 to $41.5M in 2026Q2, a 66% increase, raising questions about the sustainability of the current burn rate.
The company's cash burn is accelerating, with no near-term revenue catalysts visible in the data. If clinical trials fail or are delayed, the company may need to raise capital at dilutive terms. The lack of revenue and mounting losses could pressure the stock, especially if the market perceives the pipeline as high-risk.