Cartesian Therapeutics, Inc. (RNAC) Revenue History
Annual and quarterly revenue from 2014 to present
RNAC Revenue Over Time (2014–2025)
RNAC Revenue Growth History
8 of 11 years with positive growth- FY2014 revenue growth
- N/A
- FY2015 revenue growth
- +97.7%
- FY2016 revenue growth
- +34.5%
- FY2017 revenue growth
- -97.4%
- FY2018 revenue growth
- +336.2%
- FY2019 revenue growth
- +639.4%
- FY2020 revenue growth
- +148.6%
- FY2021 revenue growth
- +412.6%
- FY2022 revenue growth
- +30.2%
- FY2023 revenue growth
- -76.5%
- FY2024 revenue growth
- +49.6%
- FY2025 revenue growth
- -92.8%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $78K | -92.9% |
| Q4 2025 | $947K | +224.8% |
| Q3 2025 | $452K | +16.8% |
| Q2 2025 | $298K | -99.1% |
| Q1 2025 | $1.1M | -81.2% |
| Q4 2024 | $-759,000 | -109.2% |
| Q3 2024 | $387K | -94.1% |
| Q2 2024 | $33.4M | +537.2% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
RNAC's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
RNAC Revenue Analysis (2014–2025)
Current Revenue & Growth
As of June 22, 2026, Cartesian Therapeutics, Inc. (RNAC) generated trailing twelve-month (TTM) revenue of $1.8 million, reflecting significant decline in growth of -92.9% year-over-year. The most recent quarter (Q1 2026) recorded $78,000 in revenue, down 91.8% sequentially.
Historical Growth Trajectory
RNAC's 5-year compound annual growth rate (CAGR) stands at -30.0%, indicating revenue contraction over this period. The 3-year CAGR of -70.7% is below the 5-year average, signalling a growth deceleration in recent years. Cartesian Therapeutics, Inc.'s highest annual revenue of $110.8 million was recorded in 2022.
Revenue by Segment
RNAC's revenue is primarily driven by Operating Segment (100%). With over half of revenue concentrated in Operating Segment, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Healthcare sector peers — including KYMR (-12.6% YoY), ARQT (+95.3% YoY), and RCUS (+67.4% YoY) — RNAC has underperformed the peer group in revenue growth. Compare RNAC vs KYMR →
RNAC Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| RNACCurrent | $2M | -92.9% | -30.0% | -3099.9% | |
 KYMR | $39M | -12.6% | +2.9% | -891.3% | |
 ARQT | $376M | +95.3% | - | -3.3% | |
 RCUS | $247M | +67.4% | +25.9% | -156.3% | |
 TGTX | $616M | +81.3% | +426.7% | 20.0% |
RNAC Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $2.8M | -92.8% | $2.8M | 100.0% | $-86,705,000 | -3099.9% |
| 2024 | $38.9M | +49.6% | $38.9M | 100.0% | $-43,897,000 | -112.8% |
| 2023 | $26.0M | -76.5% | $26.0M | 100.0% | $-86,416,000 | -332.3% |
| 2022 | $110.8M | +30.2% | $108.7M | 98.2% | $14.5M | 13.1% |
| 2021 | $85.1M | +412.6% | $85.1M | 100.0% | $-4,597,000 | -5.4% |
| 2020 | $16.6M | +148.6% | $16.6M | 100.0% | $-56,821,000 | -342.4% |
| 2019 | $6.7M | +639.4% | $6.7M | 100.0% | $-52,455,000 | -785.6% |
| 2018 | $903K | +336.2% | $903K | 100.0% | $-65,022,000 | -7200.7% |
| 2017 | $207K | -97.4% | $207K | 100.0% | $-63,784,000 | -30813.5% |
| 2016 | $8.1M | +34.5% | $8.1M | 100.0% | $-34,670,000 | -428.9% |
| 2015 | $6.0M | +97.7% | $6.0M | 100.0% | $-25,304,000 | -421.0% |
| 2014 | $3.0M | - | $3.0M | 100.0% | $-15,399,000 | -506.5% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
12+ years return with dividends reinvested.
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Peer Comparison
Compare growth, multiples, and margins vs sector.
RNAC — Frequently Asked Questions
Quick answers to the most common questions about buying RNAC stock.
Is RNAC's revenue growth accelerating or slowing?
RNAC revenue is declining -92.9% year-over-year. TTM revenue fell to $2M, contrasting with the 5-year CAGR of -30.0%. The reversal reflects either macro headwinds or company-specific challenges.
What is RNAC's revenue history from 2014 to 2026?
Cartesian Therapeutics, Inc. (RNAC) revenue history spans 2014 to 2026. TTM revenue as of 2026 is $2M, growing at -92.9% YoY. The 5-year CAGR is -30.0%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is RNAC's long-term revenue growth rate (CAGR)?
Cartesian Therapeutics, Inc.'s 5-year revenue CAGR of -30.0% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of -92.9% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for RNAC.
Why does RNAC's quarterly revenue fluctuate?
RNAC quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Cartesian Therapeutics, Inc.'s revenue data from 2014 to 2026 shows full historical quarterly detail on this page.
How is RNAC's revenue distributed by segment?
RNAC reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does RNAC's revenue compare to industry peers?
Cartesian Therapeutics, Inc. (RNAC) with TTM revenue of $2M and -92.9% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.