Revenue: As of FY2025 Q3, the actual value is USD 90 K, missing the estimate of USD 403 K.EPS: As of FY2025 Q3, the actual value is USD -1.01, missing the estimate of USD -0.9917.EBIT: As of FY2025 Q3, the actual value is USD -65.52 M.<h3>Segment Revenue</h3><ul><li>Collaboration and License Revenue: For the three months ended September 30, 2025, revenue was $90,000, compared to $3,000 for the same period in 2024. For the nine months ended September 30, 2025, revenue was $119,000, compared to $36,000 for the same period in 2024.</li></ul><h3>Operational Metrics</h3><ul><li>Net Loss: The net loss for the three months ended September 30, 2025 was -$56.9 million, compared to -$43.8 million for the same period in 2024.</li><li>Research and Development Expenses: R&amp;D expenses for the three months ended September 30, 2025 were $49.4 million, up from $38.5 million in 2024, primarily due to increased clinical trial activity.</li><li>General and Administrative Expenses: G&amp;A expenses decreased to $11.8 million for the three months ended September 30, 2025 from $12.7 million in 2024.</li></ul><h3>Cash Flow</h3><ul><li>Net Cash Used in Operating Activities: For the nine months ended September 30, 2025, net cash used in operating activities was -$137.6 million, compared to -$88.7 million for the same period in 2024.</li><li>Net Cash Provided by Investing Activities: Net cash provided by investing activities was $35.9 million for the nine months ended September 30, 2025, compared to net cash used of -$309.5 million in 2024.</li><li>Net Cash Provided by Financing Activities: Net cash provided by financing activities was $978,000 for the nine months ended September 30, 2025, compared to $336.6 million in 2024.</li></ul><h3>Future Outlook and Strategy</h3><ul><li>Core Business Focus: The company is prioritizing the development of 4D-150 and 4D-710, with strategic pipeline prioritization implemented in January 2025.</li><li>Non-Core Business: The company is seeking strategic alternatives, including potential partnering, for other clinical stage product candidates such as 4D-175 and 4D-725.</li><li>Restructuring: A workforce reduction of approximately 25% was announced in July 2025 to focus on the development of 4D-150 and 4D-710, expected to provide annual cash compensation cost savings of approximately $15 million.</li></ul><h3>Additional Notes</h3><ul><li>The company has incurred significant losses and negative cash flows from operations, with an accumulated deficit of $735.7 million as of September 30, 2025.</li><li>The company believes its cash, cash equivalents, and marketable securities are sufficient to fund planned operations for at least one year from the issuance date of the financial statements.</li></ul>

4D Molecular Therapeutics | 10-Q: FY2025 Q3 Revenue Misses Estimate at USD 90 K