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Kymera Therapeutics, Inc. Financials

KYMR
Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Kymera Therapeutics, Inc. (KYMR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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).

Rhea AI KYMR FY2025

Kymera’s current model is equity-funded drug discovery: R&D-heavy cash burn dominates while the balance sheet stays lightly leveraged.

Cash consumption is mostly operating, not capital-intensive: FY2025 operating cash flow was -$233M and free cash flow was -$234M. With capex at only $1.4M and financing inflow at $991M, the company is using new capital mainly to fund research time rather than to build heavy infrastructure.

Research spending is the main economic driver of the model, rising from $240M in FY2024 to $317M in FY2025. Because FY2025 revenue was only $39M, reported sales are not yet carrying the cost base, so losses mostly reflect deliberate pipeline investment rather than an expensive physical footprint.

Liquidity looks strong because capital was raised, not because the business self-funded: cash reached $357M and the current ratio was 10.5x in FY2025. The balance sheet remains lightly burdened by obligations, with total liabilities of $163M, but shareholders have been supplying that cushion as shares outstanding climbed to 81.3M.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 45 / 100
Financial Profile 45/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Kymera Therapeutics, Inc.'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.

Profitability
0

Kymera Therapeutics, Inc. has an operating margin of -891.1%, meaning the company retains $-891 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 down from -555.8% the prior year.

Growth
0

Kymera Therapeutics, Inc.'s revenue declined 16.7% year-over-year, from $47.1M to $39.2M. This contraction results in a growth score of 0/100.

Leverage
100

Kymera Therapeutics, Inc. carries a low D/E ratio of 0.10, meaning only $0.10 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
100

With a current ratio of 10.47, Kymera Therapeutics, Inc. holds $10.47 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Cash Flow
0

While Kymera Therapeutics, Inc. generated -$232.9M in operating cash flow, capex of $1.4M consumed most of it, leaving -$234.3M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns
67

Kymera Therapeutics, Inc. earns a strong 19.7% return on equity (ROE), meaning it generates $20 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 67/100. This is down from 26.8% the prior year.

Piotroski F-Score Weak
2/9

Kymera Therapeutics, Inc. passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality
-0.75x

For every $1 of reported earnings, Kymera Therapeutics, Inc. generates $-0.75 in operating cash flow (-$232.9M OCF vs $311.4M 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

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Earnings & Revenue

Revenue
$39.2M
YoY-16.7%
5Y CAGR+2.9%

Kymera Therapeutics, Inc. generated $39.2M in revenue in fiscal year 2025. This represents a decrease of 16.7% from the prior year.

EBITDA
-$341.1M
YoY-34.1%

Kymera Therapeutics, Inc.'s EBITDA was -$341.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 34.1% from the prior year.

Net Income
$311.4M
YoY+39.1%

Kymera Therapeutics, Inc. reported $311.4M in net income in fiscal year 2025. This represents an increase of 39.1% from the prior year.

EPS (Diluted)
$-3.69
YoY-23.8%

Kymera Therapeutics, Inc. earned $-3.69 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 23.8% from the prior year.

Cash & Balance Sheet

Free Cash Flow
-$234.3M
YoY-13.0%

Kymera Therapeutics, Inc. generated -$234.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 13.0% from the prior year.

Cash & Debt
$357.0M
YoY+196.9%
5Y CAGR+63.0%

Kymera Therapeutics, Inc. held $357.0M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
81M
YoY+25.3%
5Y CAGR+12.8%

Kymera Therapeutics, Inc. had 81M shares outstanding in fiscal year 2025. This represents an increase of 25.3% from the prior year.

Margins & Returns

Gross Margin
0.0%
YoY+0.0pp

Kymera Therapeutics, Inc.'s gross margin was 0.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.0 percentage points from the prior year.

Operating Margin
-891.1%
YoY-335.3pp
5Y CAGR-755.0pp

Kymera Therapeutics, Inc.'s operating margin was -891.1% in fiscal year 2025, reflecting core business profitability. This is down 335.3 percentage points from the prior year.

Net Margin
794.0%
YoY+318.5pp
5Y CAGR+928.0pp

Kymera Therapeutics, Inc.'s net profit margin was 794.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 318.5 percentage points from the prior year.

Return on Equity
19.7%
YoY-7.1pp
5Y CAGR+35.8pp

Kymera Therapeutics, Inc.'s ROE was 19.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 7.1 percentage points from the prior year.

Capital Allocation

R&D Spending
$316.6M
YoY+31.8%
5Y CAGR+38.5%

Kymera Therapeutics, Inc. invested $316.6M in research and development in fiscal year 2025. This represents an increase of 31.8% from the prior year.

Share Buybacks
N/A
Capital Expenditures
$1.4M
YoY-88.7%
5Y CAGR-30.7%

Kymera Therapeutics, Inc. invested $1.4M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 88.7% from the prior year.

KYMR Income Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Revenue $34.4M+1097.0% $2.9M+3.9% $2.8M-75.9% $11.5M-48.1% $22.1M+198.9% $7.4M+97.6% $3.7M-85.4% $25.6M
Cost of Revenue $34.4M+1097.0% $2.9M+3.9% $2.8M-75.9% $11.5M-48.1% $22.1M+198.9% $7.4M+97.6% $3.7M-85.4% $25.6M
Gross Profit $0 $0 $0 $0 $0 $0 $0 $0
R&D Expenses $98.2M+17.1% $83.8M+13.1% $74.1M-5.5% $78.4M-2.3% $80.3M+11.7% $71.8M+18.9% $60.4M+2.0% $59.2M
SG&A Expenses $20.4M+20.2% $16.9M-2.3% $17.3M-1.8% $17.6M+8.4% $16.3M-0.4% $16.3M+5.7% $15.5M-11.0% $17.4M
Operating Income -$84.2M+14.0% -$97.9M-5.8% -$92.5M-9.4% -$84.6M-13.6% -$74.4M+7.8% -$80.8M-12.0% -$72.1M-41.6% -$50.9M
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 -$69.2M-112.9% $535.7M+751.9% -$82.2M-7.3% -$76.6M-16.8% -$65.6M-117.4% $377.0M+703.3% -$62.5M-48.6% -$42.1M
EPS (Diluted) $-0.71 N/A $-0.94+1.1% $-0.95-15.9% $-0.82 N/A $-0.82-41.4% $-0.58

KYMR Balance Sheet

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Total Assets $1.7B-4.2% $1.7B+58.1% $1.1B-2.6% $1.1B+23.2% $918.3M-6.1% $978.0M-5.5% $1.0B+25.3% $826.0M
Current Assets $677.4M-22.2% $871.2M+64.9% $528.3M-27.5% $728.3M+45.4% $501.0M-1.8% $510.3M-10.3% $568.7M+8.2% $525.4M
Cash & Equivalents $144.1M-59.6% $357.0M+216.1% $112.9M-66.4% $335.8M+273.3% $90.0M-25.2% $120.3M+8.6% $110.7M+63.8% $67.6M
Inventory N/A N/A N/A N/A N/A N/A N/A N/A
Accounts Receivable N/A N/A N/A $40.0M N/A $0 $0 $0
Goodwill N/A N/A N/A N/A N/A N/A N/A N/A
Total Liabilities $129.4M-20.7% $163.1M+4.7% $155.8M-2.4% $159.6M+20.8% $132.1M-7.3% $142.4M+0.4% $141.9M+0.6% $141.1M
Current Liabilities $62.6M-24.7% $83.2M+16.3% $71.6M-18.2% $87.5M+48.4% $59.0M-13.0% $67.8M+1.9% $66.5M+7.1% $62.1M
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A N/A
Total Equity $1.5B-2.5% $1.6B+66.9% $946.3M-2.6% $971.5M+23.6% $786.2M-5.9% $835.6M-6.4% $892.9M+30.4% $684.9M
Retained Earnings -$1.1B-6.5% -$1.1B-8.9% -$979.0M-9.2% -$896.8M-9.3% -$820.2M-8.7% -$754.6M-10.3% -$683.9M-10.1% -$621.4M

KYMR Cash Flow Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Operating Cash Flow -$88.8M-33.1% -$66.7M-146.2% -$27.1M+54.7% -$59.9M+24.3% -$79.2M-28.1% -$61.8M-23.1% -$50.2M-16.9% -$42.9M
Capital Expenditures $434K+309.4% $106K-41.4% $181K-74.0% $695K+48.8% $467K-50.1% $936K+595.2% -$189K-104.0% $4.7M
Free Cash Flow -$89.3M-33.5% -$66.9M-145.0% -$27.3M+54.9% -$60.6M+23.9% -$79.6M-26.9% -$62.7M-24.5% -$50.4M-5.8% -$47.6M
Investing Cash Flow -$142.8M+63.8% -$394.4M-67.6% -$235.3M-492.0% $60.0M+23.5% $48.6M-29.1% $68.6M+143.5% -$157.7M-1108.1% $15.6M
Financing Cash Flow $18.8M-97.3% $705.2M+1684.9% $39.5M-83.9% $245.7M+95142.6% $258K-90.7% $2.8M-98.9% $250.9M+17670.4% $1.4M
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

KYMR Financial Ratios

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Gross Margin 0.0%0.0pp 0.0%0.0pp 0.0%0.0pp 0.0%0.0pp 0.0%0.0pp 0.0%0.0pp 0.0%0.0pp 0.0%
Operating Margin -244.9%+3164.9pp -3409.8%-62.4pp -3347.4%-2610.5pp -736.8%-400.0pp -336.8%+755.4pp -1092.2%+835.8pp -1927.9%-1729.4pp -198.5%
Net Margin -201.5%-18861.2pp 18659.7%+21632.8pp -2973.0%-2305.4pp -667.6%-370.9pp -296.8%-5395.0pp 5098.2%+6768.6pp -1670.3%-1506.3pp -164.0%
Return on Equity -4.5%-38.4pp 33.9%+42.6pp -8.7%-0.8pp -7.9%+0.5pp -8.3%-53.4pp 45.1%+52.1pp -7.0%-0.9pp -6.1%
Return on Assets -4.2%-34.9pp 30.7%+38.2pp -7.5%-0.7pp -6.8%+0.4pp -7.1%-45.7pp 38.5%+44.6pp -6.0%-1.0pp -5.1%
Current Ratio 10.81+0.3 10.47+3.1 7.38-0.9 8.32-0.2 8.49+1.0 7.53-1.0 8.55+0.1 8.45
Debt-to-Equity 0.08-0.0 0.10-0.1 0.160.0 0.160.0 0.170.0 0.17+0.0 0.16-0.0 0.21
FCF Margin -259.8%+2068.8pp -2328.6%-1341.2pp -987.4%-459.5pp -527.9%-167.6pp -360.3%+488.0pp -848.3%+498.4pp -1346.7%-1161.0pp -185.7%

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Frequently Asked Questions

Kymera Therapeutics, Inc. (KYMR) reported $39.2M in total revenue for fiscal year 2025. This represents a -16.7% 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.

Kymera Therapeutics, Inc. (KYMR) revenue declined by 16.7% year-over-year, from $47.1M to $39.2M in fiscal year 2025.

Yes, Kymera Therapeutics, Inc. (KYMR) reported a net income of $311.4M in fiscal year 2025, with a net profit margin of 794.0%.

Kymera Therapeutics, Inc. (KYMR) reported diluted earnings per share of $-3.69 for fiscal year 2025. This represents a -23.8% 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.

Kymera Therapeutics, Inc. (KYMR) had EBITDA of -$341.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

Kymera Therapeutics, Inc. (KYMR) had a gross margin of 0.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Kymera Therapeutics, Inc. (KYMR) had an operating margin of -891.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Kymera Therapeutics, Inc. (KYMR) had a net profit margin of 794.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Kymera Therapeutics, Inc. (KYMR) has a return on equity of 19.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Kymera Therapeutics, Inc. (KYMR) generated -$234.3M in free cash flow during fiscal year 2025. This represents a -13.0% 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.

Kymera Therapeutics, Inc. (KYMR) generated -$232.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Kymera Therapeutics, Inc. (KYMR) had $1.7B in total assets as of fiscal year 2025, including both current and long-term assets.

Kymera Therapeutics, Inc. (KYMR) invested $1.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Kymera Therapeutics, Inc. (KYMR) invested $316.6M in research and development during fiscal year 2025.

Kymera Therapeutics, Inc. (KYMR) had 81M shares outstanding as of fiscal year 2025.

Kymera Therapeutics, Inc. (KYMR) had a current ratio of 10.47 as of fiscal year 2025, which is generally considered healthy.

Kymera Therapeutics, Inc. (KYMR) had a debt-to-equity ratio of 0.10 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Kymera Therapeutics, Inc. (KYMR) had a return on assets of 17.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Based on fiscal year 2025 data, Kymera Therapeutics, Inc. (KYMR) had $357.0M in cash against an annual operating cash burn of $232.9M. This gives an estimated cash runway of approximately 18 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.

Kymera Therapeutics, Inc. (KYMR) has a Piotroski F-Score of 2 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Kymera Therapeutics, Inc. (KYMR) has an earnings quality ratio of -0.75x, 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.

Kymera Therapeutics, Inc. (KYMR) scores 45 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.

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