C4 Therapeutics, Inc. Financials
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
C4 Therapeutics, Inc. has an operating margin of -336.1%, meaning the company retains $-336 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -669.8% the prior year.
C4 Therapeutics, Inc.'s revenue surged 71.4% year-over-year to $35.6M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
C4 Therapeutics, Inc. carries a low D/E ratio of 0.62, meaning only $0.62 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 88/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 5.71, C4 Therapeutics, Inc. holds $5.71 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
While C4 Therapeutics, Inc. generated -$65.2M in operating cash flow, capex of $180K consumed most of it, leaving -$65.3M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
C4 Therapeutics, Inc. passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, C4 Therapeutics, Inc. generates $0.62 in operating cash flow (-$65.2M OCF vs -$105.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
This page shows C4 Therapeutics, Inc. (CCCC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
C4 Therapeutics, Inc. generated $35.6M in revenue in fiscal year 2024. This represents an increase of 71.4% from the prior year.
C4 Therapeutics, Inc.'s EBITDA was -$117.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 14.1% from the prior year.
C4 Therapeutics, Inc. generated -$65.3M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 39.8% from the prior year.
C4 Therapeutics, Inc. reported -$105.3M in net income in fiscal year 2024. This represents an increase of 20.5% from the prior year.
C4 Therapeutics, Inc. earned $-1.52 per diluted share (EPS) in fiscal year 2024. This represents an increase of 43.1% from the prior year.
C4 Therapeutics, Inc. held $55.5M in cash against $0 in long-term debt as of fiscal year 2024.
C4 Therapeutics, Inc. had 71M shares outstanding in fiscal year 2024. This represents an increase of 3.0% from the prior year.
C4 Therapeutics, Inc.'s operating margin was -336.1% in fiscal year 2024, reflecting core business profitability. This is up 333.7 percentage points from the prior year.
C4 Therapeutics, Inc.'s net profit margin was -296.0% in fiscal year 2024, showing the share of revenue converted to profit. This is up 342.4 percentage points from the prior year.
C4 Therapeutics, Inc. invested $110.6M in research and development in fiscal year 2024. This represents a decrease of 6.0% from the prior year.
C4 Therapeutics, Inc. spent $194K on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents an increase of 76.4% from the prior year.
C4 Therapeutics, Inc. invested $180K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 89.5% from the prior year.
CCCC Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $11.2M+73.8% | $6.5M-10.7% | $7.2M+39.8% | $5.2M-56.9% | $12.0M+295.1% | $3.0M-6.8% | $3.3M-70.5% | $11.1M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | $26.0M-0.8% | $26.2M-3.2% | $27.1M-16.7% | $32.5M+36.9% | $23.8M+5.4% | $22.5M-25.9% | $30.4M+7.2% | $28.3M |
| SG&A Expenses | $8.9M+1.7% | $8.8M-6.0% | $9.3M-10.1% | $10.4M+7.0% | $9.7M-5.8% | $10.3M-0.1% | $10.3M-2.2% | $10.5M |
| Operating Income | -$34.4M-20.7% | -$28.5M+2.3% | -$29.2M+22.7% | -$37.7M-75.9% | -$21.4M+33.4% | -$32.2M+13.9% | -$37.4M-34.6% | -$27.8M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $0 | N/A | $0-100.0% | $131K | $0 | $0-100.0% | $277K-72.4% | $1.0M |
| Net Income | -$32.2M-23.6% | -$26.0M+1.1% | -$26.3M+23.9% | -$34.6M-95.2% | -$17.7M+37.5% | -$28.4M+18.4% | -$34.8M-28.5% | -$27.0M |
| EPS (Diluted) | $-0.44-18.9% | $-0.370.0% | $-0.37+26.0% | $-0.50-92.3% | $-0.26+36.6% | $-0.41+39.7% | $-0.68-23.6% | $-0.55 |
CCCC Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $265.5M-10.5% | $296.5M-7.2% | $319.5M-8.6% | $349.6M-8.3% | $381.1M-4.3% | $398.4M+5.8% | $376.5M+13.0% | $333.0M |
| Current Assets | $206.9M-7.9% | $224.7M-3.4% | $232.5M-9.8% | $257.8M-6.6% | $276.0M-1.3% | $279.6M+3.1% | $271.2M+21.2% | $223.7M |
| Cash & Equivalents | $58.8M-24.8% | $78.2M+52.4% | $51.3M-7.6% | $55.5M-24.1% | $73.1M-18.5% | $89.7M-29.2% | $126.6M+107.6% | $61.0M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $6.5M+203.2% | $2.2M-73.1% | $8.0M+158.8% | $3.1M+165.8% | $1.2M-91.4% | $13.6M+15.3% | $11.8M+2259.8% | $500K |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $111.1M-9.3% | $122.5M-1.5% | $124.4M-6.9% | $133.6M-0.3% | $134.0M-4.3% | $140.1M+7.5% | $130.3M+11.4% | $117.0M |
| Current Liabilities | $35.9M-19.1% | $44.5M+8.9% | $40.8M-9.6% | $45.2M-16.6% | $54.2M-1.5% | $55.0M+28.6% | $42.8M+41.3% | $30.3M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | $0 | $0 |
| Total Equity | $154.4M-11.3% | $174.1M-10.8% | $195.1M-9.7% | $216.0M-12.6% | $247.1M-4.3% | $258.3M+4.9% | $246.1M+13.9% | $216.0M |
| Retained Earnings | -$718.2M-4.7% | -$686.0M-3.9% | -$660.0M-4.2% | -$633.7M-10.3% | -$574.5M-3.2% | -$556.7M-5.4% | -$528.4M-7.0% | -$493.6M |
CCCC Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$31.2M-158.8% | -$12.1M+63.8% | -$33.3M-85.6% | -$17.9M-260.5% | -$5.0M+72.5% | -$18.1M+24.5% | -$24.0M+21.8% | -$30.7M |
| Capital Expenditures | $411K | N/A | N/A | -$4K-102.0% | $197K | $0-100.0% | $157K-73.8% | $600K |
| Free Cash Flow | -$31.6M | N/A | N/A | -$17.9M-246.9% | -$5.2M+71.5% | -$18.1M+25.0% | -$24.2M+22.8% | -$31.3M |
| Investing Cash Flow | $4.1M-89.5% | $38.9M+33.6% | $29.1M+113.1% | $13.7M+216.8% | -$11.7M+78.1% | -$53.4M-267.1% | $31.9M-44.7% | $57.7M |
| Financing Cash Flow | $7.8M | $0+100.0% | -$46K-141.1% | $112K-17.0% | $135K-99.6% | $34.6M-40.0% | $57.7M+636.3% | -$10.8M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $24K | $0-100.0% | $155K | $0 | $0-100.0% | $109K | $0-100.0% | $16K |
CCCC Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | -306.4%+134.6pp | -441.0%-38.1pp | -402.9%+325.5pp | -728.4%-549.8pp | -178.6%+881.6pp | -1060.2%+87.5pp | -1147.7%-896.6pp | -251.2% |
| Net Margin | -286.4%+116.2pp | -402.6%-38.9pp | -363.7%+304.2pp | -667.8%-520.3pp | -147.6%+785.7pp | -933.2%+132.5pp | -1065.8%-821.6pp | -244.2% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -12.1%-3.4pp | -8.8%-0.5pp | -8.2%+1.7pp | -9.9%-5.2pp | -4.7%+2.5pp | -7.1%+2.1pp | -9.2%-1.1pp | -8.1% |
| Current Ratio | 5.75+0.7 | 5.06-0.6 | 5.700.0 | 5.71+0.6 | 5.09+0.0 | 5.08-1.3 | 6.34-1.0 | 7.39 |
| Debt-to-Equity | 0.72+0.0 | 0.70+0.1 | 0.64+0.0 | 0.62+0.1 | 0.540.0 | 0.54+0.5 | 0.000.0 | 0.00 |
| FCF Margin | -281.6% | N/A | N/A | -346.5%-303.4pp | -43.1%+553.1pp | -596.2%+144.9pp | -741.1%-458.3pp | -282.8% |
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Frequently Asked Questions
What is C4 Therapeutics, Inc.'s annual revenue?
C4 Therapeutics, Inc. (CCCC) reported $35.6M in total revenue for fiscal year 2024. This represents a 71.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is C4 Therapeutics, Inc.'s revenue growing?
C4 Therapeutics, Inc. (CCCC) revenue grew by 71.4% year-over-year, from $20.8M to $35.6M in fiscal year 2024.
Is C4 Therapeutics, Inc. profitable?
No, C4 Therapeutics, Inc. (CCCC) reported a net income of -$105.3M in fiscal year 2024, with a net profit margin of -296.0%.
What is C4 Therapeutics, Inc.'s earnings per share (EPS)?
C4 Therapeutics, Inc. (CCCC) reported diluted earnings per share of $-1.52 for fiscal year 2024. This represents a 43.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is C4 Therapeutics, Inc.'s EBITDA?
C4 Therapeutics, Inc. (CCCC) had EBITDA of -$117.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is C4 Therapeutics, Inc.'s operating margin?
C4 Therapeutics, Inc. (CCCC) had an operating margin of -336.1% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is C4 Therapeutics, Inc.'s net profit margin?
C4 Therapeutics, Inc. (CCCC) had a net profit margin of -296.0% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is C4 Therapeutics, Inc.'s free cash flow?
C4 Therapeutics, Inc. (CCCC) generated -$65.3M in free cash flow during fiscal year 2024. This represents a 39.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is C4 Therapeutics, Inc.'s operating cash flow?
C4 Therapeutics, Inc. (CCCC) generated -$65.2M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are C4 Therapeutics, Inc.'s total assets?
C4 Therapeutics, Inc. (CCCC) had $349.6M in total assets as of fiscal year 2024, including both current and long-term assets.
What are C4 Therapeutics, Inc.'s capital expenditures?
C4 Therapeutics, Inc. (CCCC) invested $180K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does C4 Therapeutics, Inc. spend on research and development?
C4 Therapeutics, Inc. (CCCC) invested $110.6M in research and development during fiscal year 2024.
Does C4 Therapeutics, Inc. buy back shares?
Yes, C4 Therapeutics, Inc. (CCCC) spent $194K on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does C4 Therapeutics, Inc. have outstanding?
C4 Therapeutics, Inc. (CCCC) had 71M shares outstanding as of fiscal year 2024.
What is C4 Therapeutics, Inc.'s current ratio?
C4 Therapeutics, Inc. (CCCC) had a current ratio of 5.71 as of fiscal year 2024, which is generally considered healthy.
What is C4 Therapeutics, Inc.'s debt-to-equity ratio?
C4 Therapeutics, Inc. (CCCC) had a debt-to-equity ratio of 0.62 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is C4 Therapeutics, Inc.'s return on assets (ROA)?
C4 Therapeutics, Inc. (CCCC) had a return on assets of -30.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is C4 Therapeutics, Inc.'s cash runway?
Based on fiscal year 2024 data, C4 Therapeutics, Inc. (CCCC) had $55.5M in cash against an annual operating cash burn of $65.2M. This gives an estimated cash runway of approximately 10 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is C4 Therapeutics, Inc.'s Piotroski F-Score?
C4 Therapeutics, Inc. (CCCC) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are C4 Therapeutics, Inc.'s earnings high quality?
C4 Therapeutics, Inc. (CCCC) has an earnings quality ratio of 0.62x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is C4 Therapeutics, Inc.?
C4 Therapeutics, Inc. (CCCC) scores 58 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.