4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) is a biotechnology company focused on developing gene therapy products using its targeted vector evolution platform. It operates in the Zacks Medical - Drugs industry and competes with other firms in the gene therapy space.
The company released its full-year 2025 financial results on March 18, 2026 (covering the quarter ending December 31, 2025). Analysts had estimated an EPS loss of approximately -$0.53 and revenue of around $30.9 million for Q4.
In the recent report, FDMT delivered a strong quarterly EPS of $0.43, a remarkable turnaround from the expected loss and prior periods. This was largely due to one-time collaboration revenue. Full-year 2025 results showed a narrowed net loss of $140 million (or -$2.42 per diluted share), improved from $161 million (or -$2.98) in 2024.
Revenue for full-year 2025 was $85 million (almost entirely from the Q4 collaboration). The Q4 revenue beat highlights growth potential from partnerships, though sustainability depends on pipeline progress and future milestones.
The company maintains a strong balance sheet: low debt-to-equity ratio (~0.042), high current ratio (~9.39), and $514 million in cash, cash equivalents, and marketable securities as of December 31, 2025 (providing runway at least into the second half of 2028). These metrics reflect prudent financial management during its growth-focused phase.
