Crinetics Pharmaceuticals Financials
This page shows Crinetics Pharmaceuticals (CRNX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 10 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).
Crinetics remains an equity-funded development-stage business, with research spending and overhead—not product sales—determining cash consumption.
FY2025 free cash burn was nearly identical to operating cash burn because capex was only$5.8M against-$377.9M of operating outflow. That makes this a cash-intensive research platform but a capital-light physical business, with spending pressure coming from programs and headcount rather than equipment.
Short-term liquidity is still substantial: current assets of
Commercial scale has not arrived: FY2025 revenue was only
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Crinetics Pharmaceuticals's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Crinetics Pharmaceuticals scores 37.33, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($8.9B) relative to total liabilities ($134.2M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Crinetics Pharmaceuticals passes 2 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Crinetics Pharmaceuticals generates $0.81 in operating cash flow (-$377.9M OCF vs -$465.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Crinetics Pharmaceuticals generated $7.7M in revenue in fiscal year 2025. This represents an increase of 640.7% from the prior year.
Crinetics Pharmaceuticals's EBITDA was -$512.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 52.6% from the prior year.
Crinetics Pharmaceuticals reported -$465.3M in net income in fiscal year 2025. This represents a decrease of 55.9% from the prior year.
Crinetics Pharmaceuticals earned $-4.95 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 34.1% from the prior year.
Cash & Balance Sheet
Crinetics Pharmaceuticals generated -$383.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 63.9% from the prior year.
Crinetics Pharmaceuticals held $101.5M in cash against $0 in long-term debt as of fiscal year 2025.
Crinetics Pharmaceuticals had 105M shares outstanding in fiscal year 2025. This represents an increase of 12.7% from the prior year.
Margins & Returns
Crinetics Pharmaceuticals's gross margin was 86.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 14.0 percentage points from the prior year.
Crinetics Pharmaceuticals's operating margin was -6714.8% in fiscal year 2025, reflecting core business profitability. This is up 25898.7 percentage points from the prior year.
Crinetics Pharmaceuticals's net profit margin was -6046.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 22673.9 percentage points from the prior year.
Crinetics Pharmaceuticals's ROE was -46.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 24.4 percentage points from the prior year.
Capital Allocation
Crinetics Pharmaceuticals invested $332.1M in research and development in fiscal year 2025. This represents an increase of 38.3% from the prior year.
Crinetics Pharmaceuticals invested $5.8M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 49.9% from the prior year.
CRNX Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $10.7M+74.2% | $6.2M+4208.4% | $143K-86.1% | $1.0M+185.6% | $361K | N/A | $0-100.0% | $399K |
| Cost of Revenue | $200K | N/A | N/A | N/A | $0 | N/A | N/A | N/A |
| Gross Profit | $10.5M | N/A | N/A | N/A | $361K | N/A | N/A | N/A |
| R&D Expenses | $100.1M+17.7% | $85.1M-6.0% | $90.5M+12.7% | $80.3M+5.3% | $76.2M | N/A | $61.9M+6.1% | $58.3M |
| SG&A Expenses | $50.8M-5.3% | $53.7M+2.7% | $52.3M+4.9% | $49.8M+40.3% | $35.5M | N/A | $25.9M+4.2% | $24.8M |
| Operating Income | -$140.4M-5.0% | -$133.7M+6.3% | -$142.6M-10.4% | -$129.1M-15.9% | -$111.4M | N/A | -$87.8M-6.1% | -$82.8M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$127.8M-4.1% | -$122.8M+5.6% | -$130.1M-12.5% | -$115.6M-19.5% | -$96.8M | N/A | -$76.8M-3.7% | -$74.1M |
| EPS (Diluted) | $-1.23 | N/A | $-1.38-12.2% | $-1.23-18.3% | $-1.04 | N/A | $-0.96-2.1% | $-0.94 |
CRNX Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.4B+24.4% | $1.1B-5.8% | $1.2B-7.3% | $1.3B-5.3% | $1.4B-5.1% | $1.4B+53.0% | $937.4M+0.2% | $935.5M |
| Current Assets | $1.3B+26.1% | $1.0B-6.5% | $1.1B-7.9% | $1.2B-5.7% | $1.3B-6.1% | $1.4B+56.7% | $877.6M+0.3% | $874.8M |
| Cash & Equivalents | $114.3M+12.6% | $101.5M-8.4% | $110.9M+106.4% | $53.7M-43.2% | $94.6M-64.3% | $264.5M-16.6% | $317.3M+5.0% | $302.2M |
| Inventory | $3.1M+51.5% | $2.0M | N/A | N/A | N/A | $0 | N/A | N/A |
| Accounts Receivable | $5.7M+860.0% | $592K | N/A | N/A | N/A | $0 | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $120.7M-10.1% | $134.2M+8.3% | $123.9M+4.9% | $118.0M+10.0% | $107.3M-2.2% | $109.8M+5.2% | $104.4M-0.4% | $104.8M |
| Current Liabilities | $71.1M-16.4% | $85.1M+14.7% | $74.2M+8.4% | $68.4M+19.3% | $57.3M-4.0% | $59.7M+11.4% | $53.6M-1.5% | $54.4M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $1.3B+29.1% | $992.1M-7.5% | $1.1B-8.5% | $1.2B-6.6% | $1.3B-5.3% | $1.3B+59.0% | $833.0M+0.3% | $830.8M |
| Retained Earnings | -$1.5B-9.0% | -$1.4B-9.5% | -$1.3B-11.2% | -$1.2B-11.0% | -$1.0B-10.2% | -$952.1M-9.2% | -$871.5M-9.7% | -$794.7M |
CRNX Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$124.7M-34.2% | -$92.9M+16.1% | -$110.7M-29.0% | -$85.9M+2.9% | -$88.5M-32.3% | -$66.9M-6.4% | -$62.8M-31.9% | -$47.6M |
| Capital Expenditures | $820K+79.0% | $458K-46.9% | $863K-73.0% | $3.2M+158.4% | $1.2M+20.4% | $1.0M+94.9% | $528K-44.7% | $955K |
| Free Cash Flow | -$125.5M-34.5% | -$93.4M+16.3% | -$111.6M-25.3% | -$89.1M+0.7% | -$89.7M-32.1% | -$67.9M-7.2% | -$63.4M-30.4% | -$48.6M |
| Investing Cash Flow | -$252.4M-541.9% | $57.1M-65.3% | $164.8M+334.2% | $38.0M+144.2% | -$86.0M+84.1% | -$542.1M-2731.1% | $20.6M+138.4% | -$53.6M |
| Financing Cash Flow | $389.9M+1397.5% | $26.0M+744.2% | $3.1M-56.3% | $7.1M+59.0% | $4.4M-99.2% | $556.2M+870.3% | $57.3M+662.0% | $7.5M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
CRNX Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 98.1% | N/A | N/A | N/A | 100.0% | N/A | N/A | N/A |
| Operating Margin | -1307.8%+861.8pp | -2169.5%+97540.9pp | -99710.5%-87187.5pp | -12523.0%+18337.1pp | -30860.1% | N/A | N/A | -20747.6% |
| Net Margin | -1191.0%+802.1pp | -1993.2%+88979.6pp | -90972.7%-79756.7pp | -11216.0%+15591.2pp | -26807.2% | N/A | N/A | -18560.1% |
| Return on Equity | -10.0%+2.4pp | -12.4%-0.2pp | -12.1%-2.3pp | -9.9%-2.1pp | -7.7% | N/A | -9.2%-0.3pp | -8.9% |
| Return on Assets | -9.1%+1.8pp | -10.9%-0.0pp | -10.9%-1.9pp | -9.0%-1.9pp | -7.1% | N/A | -8.2%-0.3pp | -7.9% |
| Current Ratio | 18.60+6.3 | 12.32-2.8 | 15.12-2.7 | 17.80-4.7 | 22.53-0.5 | 23.04+6.7 | 16.38+0.3 | 16.09 |
| Debt-to-Equity | 0.09-0.0 | 0.14+0.0 | 0.12+0.0 | 0.10+0.0 | 0.090.0 | 0.08-0.0 | 0.130.0 | 0.13 |
| FCF Margin | -1169.4%+345.9pp | -1515.3%+76513.4pp | -78028.7%-69391.1pp | -8637.5%+16207.6pp | -24845.2% | N/A | N/A | -12180.2% |
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Frequently Asked Questions
What is Crinetics Pharmaceuticals's annual revenue?
Crinetics Pharmaceuticals (CRNX) reported $7.7M in total revenue for fiscal year 2025. This represents a 640.7% 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 Crinetics Pharmaceuticals's revenue growing?
Crinetics Pharmaceuticals (CRNX) revenue grew by 640.7% year-over-year, from $1.0M to $7.7M in fiscal year 2025.
Is Crinetics Pharmaceuticals profitable?
No, Crinetics Pharmaceuticals (CRNX) reported a net income of -$465.3M in fiscal year 2025, with a net profit margin of -6046.0%.
What is Crinetics Pharmaceuticals's EBITDA?
Crinetics Pharmaceuticals (CRNX) had EBITDA of -$512.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Crinetics Pharmaceuticals's gross margin?
Crinetics Pharmaceuticals (CRNX) had a gross margin of 86.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Crinetics Pharmaceuticals's operating margin?
Crinetics Pharmaceuticals (CRNX) had an operating margin of -6714.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Crinetics Pharmaceuticals's net profit margin?
Crinetics Pharmaceuticals (CRNX) had a net profit margin of -6046.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Crinetics Pharmaceuticals's return on equity (ROE)?
Crinetics Pharmaceuticals (CRNX) has a return on equity of -46.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Crinetics Pharmaceuticals's free cash flow?
Crinetics Pharmaceuticals (CRNX) generated -$383.7M in free cash flow during fiscal year 2025. This represents a -63.9% 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 Crinetics Pharmaceuticals's operating cash flow?
Crinetics Pharmaceuticals (CRNX) generated -$377.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Crinetics Pharmaceuticals's total assets?
Crinetics Pharmaceuticals (CRNX) had $1.1B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Crinetics Pharmaceuticals's capital expenditures?
Crinetics Pharmaceuticals (CRNX) invested $5.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Crinetics Pharmaceuticals spend on research and development?
Crinetics Pharmaceuticals (CRNX) invested $332.1M in research and development during fiscal year 2025.
What is Crinetics Pharmaceuticals's current ratio?
Crinetics Pharmaceuticals (CRNX) had a current ratio of 12.32 as of fiscal year 2025, which is generally considered healthy.
What is Crinetics Pharmaceuticals's debt-to-equity ratio?
Crinetics Pharmaceuticals (CRNX) had a debt-to-equity ratio of 0.14 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Crinetics Pharmaceuticals's return on assets (ROA)?
Crinetics Pharmaceuticals (CRNX) had a return on assets of -41.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Crinetics Pharmaceuticals's cash runway?
Based on fiscal year 2025 data, Crinetics Pharmaceuticals (CRNX) had $101.5M in cash against an annual operating cash burn of $377.9M. This gives an estimated cash runway of approximately 3 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 Crinetics Pharmaceuticals's Altman Z-Score?
Crinetics Pharmaceuticals (CRNX) has an Altman Z-Score of 37.33, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Crinetics Pharmaceuticals's Piotroski F-Score?
Crinetics Pharmaceuticals (CRNX) has a Piotroski F-Score of 2 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Crinetics Pharmaceuticals's earnings high quality?
Crinetics Pharmaceuticals (CRNX) has an earnings quality ratio of 0.81x, 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 Crinetics Pharmaceuticals?
Crinetics Pharmaceuticals (CRNX) scores 51 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.