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Rapport Therapeutics (RAPP) Financials

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$37.08 -0.88 (-2.31%)
As of 02:57 PM Eastern
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Annual Income Statements for Rapport Therapeutics

Annual Income Statements for Rapport Therapeutics

This table shows Rapport Therapeutics' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -35 -78 -111
Consolidated Net Income / (Loss)		 -35 -78 -111
Net Income / (Loss) Continuing Operations		 -35 -78 -111
Total Pre-Tax Income 		-35 -78 -111
Total Operating Income		 -36 -83 -125
Total Gross Profit		 0.00 0.00 0.00
Total Revenue		 0.00 0.00 0.00
Total Cost of Revenue		 0.00 0.00 0.00
Total Operating Expenses		 36 83 125
Selling, General & Admin Expense		 8.18 22 30
Research & Development Expense		 28 61 95
Total Other Income / (Expense), net		 1.40 4.75 14
Interest & Investment Income		 2.53 12 14
Basic Earnings per Share		 ($23.10) ($3.78) ($2.86)
Weighted Average Basic Shares Outstanding		 1.51M 20.74M 38.93M
Diluted Earnings per Share		 ($23.10) ($3.78) ($2.86)
Weighted Average Diluted Shares Outstanding		 1.51M 20.74M 38.93M
Weighted Average Basic & Diluted Shares Outstanding		 - 36.50M 47.79M

Quarterly Income Statements for Rapport Therapeutics

This table shows Rapport Therapeutics' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -6.41 -8.71 -23 -18 -18 -20 -24 -27 -27 -34 -20
Consolidated Net Income / (Loss)		 -6.41 -8.71 -23 -18 -18 -20 -24 -27 -27 -34 -20
Net Income / (Loss) Continuing Operations		 -6.41 -8.71 -23 -18 -18 -20 -24 -27 -27 -34 -20
Total Pre-Tax Income 		-6.41 -8.71 -23 -18 -18 -20 -24 -27 -27 -34 -20
Total Operating Income		 -6.63 -9.56 -17 -21 -22 -24 -27 -29 -30 -39 -24
Total Gross Profit		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 20
Total Revenue		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 20
Operating Revenue		 - - - - - - 0.00 - - - 20
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Operating Expenses		 6.63 9.56 17 21 22 24 27 29 30 39 44
Selling, General & Admin Expense		 1.91 1.98 4.59 5.11 6.10 6.32 7.54 6.82 7.71 8.25 11
Research & Development Expense		 4.72 7.58 13 16 16 17 20 23 22 30 33
Total Other Income / (Expense), net		 0.22 0.86 -5.58 2.68 4.10 3.54 3.05 2.76 3.06 4.75 4.36
Interest & Investment Income		 0.22 0.86 1.82 2.68 4.10 3.54 3.05 2.76 3.06 4.75 4.36
Basic Earnings per Share		 ($4.45) ($5.70) ($11.07) ($1.70) ($0.50) $9.49 ($0.68) ($0.75) ($0.71) ($0.72) ($0.42)
Weighted Average Basic Shares Outstanding		 1.44M 1.53M 2.05M 10.67M 34.86M 20.74M 35.27M 35.44M 37.93M 38.93M 47.24M
Diluted Earnings per Share		 ($4.45) ($5.70) ($11.07) ($1.70) ($0.50) $9.49 ($0.68) ($0.75) ($0.71) ($0.72) ($0.42)
Weighted Average Diluted Shares Outstanding		 1.44M 1.53M 2.05M 10.67M 34.86M 20.74M 35.27M 35.44M 37.93M 38.93M 47.24M
Weighted Average Basic & Diluted Shares Outstanding		 - - - 36.58M 36.58M 36.50M 36.50M 36.50M 47.66M 47.79M 47.83M

Annual Cash Flow Statements for Rapport Therapeutics

This table details how cash moves in and out of Rapport Therapeutics' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 39 -77 -4.16
Net Cash From Operating Activities		 -27 -65 -87
Net Cash From Continuing Operating Activities		 -27 -65 -87
Net Income / (Loss) Continuing Operations		 -35 -78 -111
Consolidated Net Income / (Loss)		 -35 -78 -111
Depreciation Expense		 0.11 0.84 1.02
Amortization Expense		 -0.08 -3.21 -1.40
Non-Cash Adjustments To Reconcile Net Income		 4.92 18 21
Changes in Operating Assets and Liabilities, net		 2.65 -2.42 3.50
Net Cash From Investing Activities		 -79 -170 -187
Net Cash From Continuing Investing Activities		 -79 -170 -187
Purchase of Property, Plant & Equipment		 -1.64 -2.41 -0.62
Purchase of Investments		 -77 -378 -355
Sale and/or Maturity of Investments		 0.00 210 168
Net Cash From Financing Activities		 145 222 271
Net Cash From Continuing Financing Activities		 145 158 271
Repayment of Debt		 -0.13 0.00 0.00
Repurchase of Preferred Equity		 0.00 0.00 -0.00
Issuance of Debt		 0.00 158 269
Issuance of Preferred Equity		 145 0.00 0.00
Issuance of Common Equity		 0.05 0.00 0.00
Other Financing Activities, net		 0.00 0.01 1.35

Quarterly Cash Flow Statements for Rapport Therapeutics

This table details how cash moves in and out of Rapport Therapeutics' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 80 -89 4.12 36 -71 17 0.80 -2.54 196 -199 25
Net Cash From Operating Activities		 -5.42 -10 -18 -16 -16 -14 -20 -25 -17 -25 -13
Net Cash From Continuing Operating Activities		 -6.37 -9.42 -18 -16 -16 -14 -20 -25 -17 -25 -13
Net Income / (Loss) Continuing Operations		 -8.71 -14 -23 -18 -18 -20 -24 -27 -27 -34 -20
Consolidated Net Income / (Loss)		 -8.71 -14 -23 -18 -18 -20 -24 -27 -27 -34 -20
Depreciation Expense		 0.02 0.05 0.15 0.21 0.22 0.26 0.24 0.25 0.26 0.27 0.23
Amortization Expense		 - -0.08 -0.98 -0.83 -1.96 0.56 -0.03 -0.50 0.20 -1.07 0.22
Non-Cash Adjustments To Reconcile Net Income		 0.05 2.17 9.04 2.51 3.34 3.37 4.04 5.28 5.30 6.26 6.96
Changes in Operating Assets and Liabilities, net		 2.27 1.96 -3.16 -0.12 -0.48 1.34 -0.43 -3.37 3.70 3.61 -0.77
Net Cash From Investing Activities		 -0.05 -79 -42 -107 -53 32 21 23 -57 -174 38
Net Cash From Continuing Investing Activities		 -0.05 -79 -42 -107 -53 32 21 23 -57 -174 38
Purchase of Property, Plant & Equipment		 -0.05 -1.44 -1.07 -0.97 -0.14 -0.23 -0.29 -0.02 -0.13 -0.17 -0.09
Purchase of Investments		 - -77 -45 -138 -110 -85 -43 -13 -102 -197 -30
Sale and/or Maturity of Investments		 - - 3.95 32 57 117 65 35 45 23 68
Net Cash From Financing Activities		 85 -0.14 64 159 -1.39 0.01 0.01 -0.06 271 0.31 0.53
Net Cash From Continuing Financing Activities		 85 -0.14 64 159 -1.39 0.01 0.01 -0.06 271 0.31 0.54
Repayment of Debt		 - - -0.28 0.28 - - 0.00 -0.06 0.06 - -0.27
Other Financing Activities, net		 - - 0.00 - - - 0.01 - 270 -269 0.81

Annual Balance Sheets for Rapport Therapeutics

This table presents Rapport Therapeutics' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Total Assets		 155 315 512
Total Current Assets		 151 310 499
Cash & Equivalents		 70 57 53
Restricted Cash		 0.09 0.11 0.11
Short-Term Investments		 77 248 438
Accounts Receivable		 - - 0.00
Prepaid Expenses		 3.31 4.42 7.92
Plant, Property, & Equipment, net		 1.92 3.53 2.98
Total Noncurrent Assets		 2.64 1.60 11
Other Noncurrent Operating Assets		 2.64 1.60 11
Total Liabilities & Shareholders' Equity		 155 315 512
Total Liabilities		 14 9.51 28
Total Current Liabilities		 8.80 8.77 19
Accounts Payable		 2.50 1.95 4.19
Accrued Expenses		 5.63 6.08 12
Other Current Liabilities		 0.67 0.74 2.76
Total Noncurrent Liabilities		 5.68 0.74 8.73
Other Noncurrent Operating Liabilities		 5.68 0.74 8.73
Commitments & Contingencies		 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -26 305 485
Total Preferred & Common Equity		 -26 305 485
Preferred Stock		 - 0.00 0.00
Total Common Equity		 -26 305 485
Common Stock		 20 430 719
Retained Earnings		 -45 -124 -235
Accumulated Other Comprehensive Income / (Loss)		 0.00 -0.52 0.55

Quarterly Balance Sheets for Rapport Therapeutics

This table presents Rapport Therapeutics' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 346 331 302 285 535 498
Total Current Assets		 341 326 291 270 521 485
Cash & Equivalents		 110 39 58 55 251 78
Restricted Cash		 0.11 0.11 0.11 0.11 0.11 0.11
Short-Term Investments		 226 281 228 205 262 399
Accounts Receivable		 - - - - - 0.06
Prepaid Expenses		 4.42 5.17 5.48 9.69 7.53 7.75
Plant, Property, & Equipment, net		 3.47 3.41 3.40 3.17 3.12 2.52
Total Noncurrent Assets		 1.96 1.80 7.68 12 12 10
Other Noncurrent Operating Assets		 1.96 1.80 7.68 12 12 10
Total Liabilities & Shareholders' Equity		 346 331 302 285 535 498
Total Liabilities		 9.21 8.03 16 22 24 26
Total Current Liabilities		 8.10 7.10 9.38 12 14 18
Accounts Payable		 1.88 1.32 2.14 3.18 3.24 6.56
Accrued Expenses		 5.52 5.06 6.24 6.94 8.60 8.72
Other Current Liabilities		 0.70 0.72 1.01 1.76 2.48 2.62
Total Noncurrent Liabilities		 1.12 0.93 6.83 10 9.39 8.19
Other Noncurrent Operating Liabilities		 1.12 0.93 6.83 10 9.39 8.19
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 337 323 286 264 512 472
Total Preferred & Common Equity		 337 323 286 264 512 472
Preferred Stock		 0.00 - - 0.00 0.00 0.00
Total Common Equity		 337 323 286 264 512 472
Common Stock		 423 426 434 438 713 727
Retained Earnings		 -86 -104 -148 -175 -201 -255
Accumulated Other Comprehensive Income / (Loss)		 -0.18 0.40 -0.10 -0.08 0.15 -0.51

Annual Metrics And Ratios for Rapport Therapeutics

This table displays calculated financial ratios and metrics derived from Rapport Therapeutics' official financial filings.

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 - - 47,661,138.00
DEI Adjusted Shares Outstanding		 - - 47,661,138.00
DEI Earnings Per Adjusted Shares Outstanding		 - - -2.34
Growth Metrics		 - - -
Profitability Metrics		 - - -
Net Operating Profit after Tax (NOPAT)		 -25 -58 -88
Return On Investment Capital (ROIC_SIMPLE)		 98.80% -19.04% -18.07%
Earnings before Interest and Taxes (EBIT)		 -37 -90 -125
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -37 -93 -125
Valuation Ratios		 - - -
Leverage & Solvency		 - - -
Liquidity Ratios		 - - -
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 0.00 -65 -82
Efficiency Ratios		 - - -
Capital & Investment Metrics		 - - -
Invested Capital		 -6.62 0.04 -5.99
Increase / (Decrease) in Invested Capital		 0.00 6.66 -6.03
Book Value per Share		 ($17.02) $8.35 $10.17
Tangible Book Value per Share		 ($17.02) $8.35 $10.17
Total Capital		 141 305 485
Total Debt		 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00
Net Debt		 -148 -305 -491
Capital Expenditures (CapEx)		 1.64 2.41 0.62
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -5.49 -4.35 -11
Debt-free Net Working Capital (DFNWC)		 142 301 480
Net Working Capital (NWC)		 142 301 480
Net Nonoperating Expense (NNE)		 9.46 20 24
Net Nonoperating Obligations (NNO)		 -148 -305 -491
Total Depreciation and Amortization (D&A)		 0.04 -2.37 -0.38
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 $0.00 ($3.78) ($2.86)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 20.74M 38.93M
Adjusted Diluted Earnings per Share		 $0.00 ($3.78) ($2.86)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 20.74M 38.93M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 36.50M 47.79M
Normalized Net Operating Profit after Tax (NOPAT)		 -25 -58 -88
Debt Service Ratios		 - - -
Payout Ratios		 - - -

Quarterly Metrics And Ratios for Rapport Therapeutics

This table displays calculated financial ratios and metrics derived from Rapport Therapeutics' official financial filings.

Metric Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - 0.00 - - 36,576,457.00 36,496,437.00 36,497,555.00 36,497,920.00 47,661,138.00 47,792,943.00
DEI Adjusted Shares Outstanding		 - - 0.00 - - 36,576,457.00 36,496,437.00 36,497,555.00 36,497,920.00 47,661,138.00 47,792,943.00
DEI Earnings Per Adjusted Shares Outstanding		 - - 0.00 - - -0.55 -0.65 -0.73 -0.74 -0.72 -0.42
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
EBITDA Growth		 0.00% 0.00% 0.00% -213.73% -145.10% - -6.24% -38.87% -26.26% - 11.60%
EBIT Growth		 0.00% 0.00% 0.00% -213.73% -126.27% - -10.72% -41.81% -38.57% - 10.67%
NOPAT Growth		 0.00% 0.00% 0.00% -213.73% -126.27% - -58.58% -41.81% -38.57% - 10.67%
Net Income Growth		 0.00% 0.00% 0.00% -182.65% -101.37% - -6.15% -47.52% -53.53% - 17.48%
EPS Growth		 0.00% 0.00% 0.00% 61.80% 91.23% - 93.86% 55.88% -42.00% - 38.24%
Operating Cash Flow Growth		 0.00% 0.00% 0.00% 0.00% -202.64% - -14.89% -53.31% -6.40% - 35.46%
Free Cash Flow Firm Growth		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% -51.07% 2.10% - 41.91%
Invested Capital Growth		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 361.06% -164.48% - -1,640.11%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
EBITDA Q/Q Growth		 0.00% -43.91% 0.00% 0.00% -12.43% - 0.00% -10.63% 0.74% - 39.54%
EBIT Q/Q Growth		 0.00% -44.25% 0.00% 0.00% -4.04% - 0.00% -8.81% -1.66% - 37.12%
NOPAT Q/Q Growth		 0.00% -44.25% 0.00% 0.00% -4.04% - 0.00% -8.81% -1.66% - 37.12%
Net Income Q/Q Growth		 0.00% -35.84% 0.00% 0.00% 3.22% - 0.00% -11.09% -0.72% - 41.19%
EPS Q/Q Growth		 0.00% -28.09% 0.00% 0.00% 70.59% - 0.00% -10.29% 5.33% - 41.67%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% -70.08% 0.00% 0.00% - -40.09% -23.88% 30.34% - 47.12%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% -15.09% - 0.00% -18.84% 25.42% - 46.34%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 265.73% - 0.00% 748.14% -151.15% - 10.28%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 100.00%
EBITDA Margin		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - -118.85%
Operating Margin		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - -121.08%
EBIT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - -121.08%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - -99.29%
Tax Burden Percent		 100.03% 100.01% 100.00% 100.00% 100.00% - 100.00% 100.00% 100.00% - 100.00%
Interest Burden Percent		 96.67% 91.05% 92.59% 87.12% 81.04% - 88.77% 90.63% 89.79% - 82.00%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Return on Equity (ROE)		 0.00% 0.00% 0.00% 0.00% 0.00% - -27.88% -29.42% -23.41% - -28.33%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - -6.06%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - -4.97%
Return on Common Equity (ROCE)		 0.00% 0.00% 0.00% 0.00% 0.00% - -27.88% -29.42% -23.41% - -28.33%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 0.00% 0.00% 0.00% - -27.88% 0.00% 0.00% - 0.00%
Net Operating Profit after Tax (NOPAT)		 -4.64 -6.69 -12 -15 -15 -16 -19 -21 -21 -27 -17
NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - -84.75%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% -2.12% -1.49% - -3.56% -2.04% -1.42% - -0.76%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - -5.39% -6.64% -7.84% -4.10% -5.56% -3.59%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 57.50%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 163.58%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 221.08%
Earnings before Interest and Taxes (EBIT)		 -6.63 -9.56 -24 -21 -22 -24 -27 -29 -30 -39 -24
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -6.63 -9.54 -25 -21 -23 -23 -27 -30 -30 -39 -24
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.55 2.32 - 1.28 1.57 2.12 - 3.17
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.55 2.32 - 1.28 1.57 2.12 - 3.17
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 74.77
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 182.42 - 230.87 52.17 0.00 - 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 50.93
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Financial Leverage		 0.00 0.00 0.00 -1.00 -0.99 - -1.00 -0.99 -1.00 - -1.01
Leverage Ratio		 0.00 0.00 0.00 1.03 1.02 - 1.06 1.05 1.04 - 1.06
Compound Leverage Factor		 0.00 0.00 0.00 0.90 0.83 - 0.94 0.95 0.93 - 0.87
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Common Equity to Total Capital		 0.00% 0.00% 0.00% 100.00% 100.00% - 100.00% 100.00% 100.00% - 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Altman Z-Score		 0.00 0.00 0.00 0.00 0.00 - 13.68 11.22 27.86 - 34.69
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.00 0.00 0.00 42.08 45.91 - 31.01 22.75 36.37 - 27.08
Quick Ratio		 0.00 0.00 0.00 41.52 45.17 - 30.41 21.93 35.84 - 26.64
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 0.00 0.00 -15 -17 0.00 -19 -23 -17 -21 -11
Operating Cash Flow to CapEx		 0.00% -10,430.77% -1,643.19% 0.00% -11,725.00% - -6,954.30% -113,954.55% -13,033.58% - -15,187.21%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.05
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 6.75
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 0.00 0.00 0.00 0.64 2.35 0.04 0.35 2.96 -1.51 -5.99 -5.38
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - -7.96
Increase / (Decrease) in Invested Capital		 0.00 0.00 0.00 0.64 2.35 0.00 0.35 2.32 -3.86 -6.03 -5.72
Enterprise Value (EV)		 0.00 0.00 0.00 -150 428 - 81 154 571 - 1,019
Market Capitalization		 136 136 136 186 749 - 366 415 1,084 - 1,495
Book Value per Share		 $0.00 $0.00 $0.00 $31.58 $8.83 $8.35 $7.83 $7.22 $14.02 $10.17 $9.87
Tangible Book Value per Share		 $0.00 $0.00 $0.00 $31.58 $8.83 $8.35 $7.83 $7.22 $14.02 $10.17 $9.87
Total Capital		 0.00 0.00 0.00 337 323 305 286 264 512 485 472
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 0.00 0.00 0.00 -336 -321 -305 -285 -261 -513 -491 -477
Capital Expenditures (CapEx)		 0.00 0.05 1.07 0.00 0.14 0.23 0.29 0.02 0.13 0.17 0.09
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 0.00 0.00 -3.67 -1.93 -4.35 -3.90 -2.19 -6.79 -11 -10
Debt-free Net Working Capital (DFNWC)		 0.00 0.00 0.00 333 319 301 282 258 506 480 467
Net Working Capital (NWC)		 0.00 0.00 0.00 333 319 301 282 258 506 480 467
Net Nonoperating Expense (NNE)		 1.77 2.01 11 3.56 2.39 3.52 5.09 6.08 5.93 6.81 2.91
Net Nonoperating Obligations (NNO)		 0.00 0.00 0.00 -336 -321 -305 -285 -261 -513 -491 -477
Total Depreciation and Amortization (D&A)		 0.00 0.02 -0.83 0.00 -1.75 0.82 0.22 -0.25 0.46 -0.81 0.45
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - -50.45%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 2,333.99%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 2,333.99%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 ($1.70) ($0.50) $9.49 ($0.68) ($0.75) ($0.71) ($0.72) ($0.42)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 0.00 10.67M 34.86M 20.74M 35.27M 35.44M 37.93M 38.93M 47.24M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 ($1.70) ($0.50) $9.49 ($0.68) ($0.75) ($0.71) ($0.72) ($0.42)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 0.00 10.67M 34.86M 20.74M 35.27M 35.44M 37.93M 38.93M 47.24M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 0.00 36.58M 36.58M 36.50M 36.50M 36.50M 47.66M 47.79M 47.83M
Normalized Net Operating Profit after Tax (NOPAT)		 -4.64 -6.69 -12 -15 -15 -16 -19 -21 -21 -27 -17
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - -84.75%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - -99.29%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%

Financials Breakdown Chart

Key Financial Trends

Rapport Therapeutics (RAPP) has shown a persistent cash burn across the quarters presented, but also access to sizable liquidity via financing activities. Below is a concise, bullet-point view of the key trends over the last four years based on the quarterly statements you provided.

  • Liquidity on hand is strong as of 2025 Q3: cash & equivalents about $251.4 million and short-term investments about $261.7 million, with total current assets around $520.7 million.
  • The company raised substantial funding in late 2024/2025, including a debt issuance of about $269.4 million in 2025 Q4 and a preferred equity issuance of about $85.3 million in 2025 Q3, expanding the balance sheet and financing runway.
  • Net cash from continuing financing activities was strong in 2025 Q3 (about $270.5 million), reflecting one-off financing events that boosted liquidity.
  • Revenue has been essentially zero across the quarters shown (Total Revenue 0 in several periods), indicating the business is not generating product sales yet and relies on financing for liquidity.
  • Total assets expanded to roughly $535 million by 2025 Q3, up from earlier periods, driven largely by cash, investments, and equity/debt financing.
  • There was a material sale/maturity of investments in 2025 Q3 (~$44.98 million), contributing to investing activity mix but not offsetting ongoing cash burn.
  • The company continues to incur net losses, with 2025 Q4 net income at approximately -$33.76 million, and 2025 Q3 and Q2 both around -$26.9 million and -$26.7 million respectively.
  • Operating cash flow remains negative in every quarter shown, with 2025 Q4 net cash from continuing operating activities about -$24.70 million and 2025 Q3 at around -$17.47 million, signaling ongoing cash burn from operations.
  • Investing activities show sizable outflows in some quarters (e.g., 2025 Q4 net investing cash flow about -$174.32 million; 2025 Q3 about -$56.78 million), indicating substantial ongoing investment activity beyond operating needs.
  • Retained earnings are negative across periods (e.g., -$201.47 million in 2025 Q3, -$174.54 million in 2025 Q2, -$147.81 million in 2025 Q1), reflecting sustained losses that have reduced equity over time despite large common stock balances.
05/15/26 12:24 PM ETAI Generated. May Contain Errors.

Rapport Therapeutics Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Rapport Therapeutics' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Rapport Therapeutics' net income appears to be on an upward trend, with a most recent value of -$111.48 million in 2025, rising from -$34.79 million in 2023. The previous period was -$78.31 million in 2024. Find out what analysts predict for Rapport Therapeutics in the coming months.

Rapport Therapeutics' total operating income in 2025 was -$125.10 million, based on the following breakdown:
  • Total Gross Profit: $0.00
  • Total Operating Expenses: $125.10 million

Over the last 2 years, Rapport Therapeutics' total revenue changed from $0.00 in 2023 to $0.00 in 2025, a change of 0.0%.

Rapport Therapeutics' total liabilities were at $27.78 million at the end of 2025, a 192.2% increase from 2024, and a 91.9% increase since 2023.

In the past 2 years, Rapport Therapeutics' cash and equivalents has ranged from $52.65 million in 2025 to $70.17 million in 2023, and is currently $52.65 million as of their latest financial filing in 2025.

Over the last 2 years, Rapport Therapeutics' book value per share changed from -17.02 in 2023 to 10.17 in 2025, a change of -159.7%.


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Financial statements for NASDAQ:RAPP last updated on 5/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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