Revenue: As of FY2025 Q4, the actual value is USD 0.

EPS: As of FY2025 Q4, the actual value is USD -1.86.

EBIT: As of FY2025 Q4, the actual value is USD -370.98 M.

Financial Highlights for Q4 and Full Year 2025

Research and Development (R&D) Expenses

• Fourth Quarter: R&D expenses increased to $294.9 million in Q4 2025 from $188.1 million in Q4 2024, driven by higher clinical trial and manufacturing expenses for daraxonrasib, zoldonrasib, and elironrasib, as well as increased personnel-related expenses and stock-based compensation due to additional headcount .
• Full Year: R&D expenses increased to $987.3 million for FY 2025 from $592.2 million for FY 2024, primarily due to higher clinical trial and manufacturing expenses for daraxonrasib, zoldonrasib, and elironrasib, and increased personnel-related expenses and stock-based compensation .

General and Administrative (G&A) Expenses

• Fourth Quarter: G&A expenses rose to $66.7 million in Q4 2025 from $28.2 million in Q4 2024, mainly due to increased commercial preparation activities and personnel-related expenses, including stock-based compensation from additional headcount .
• Full Year: G&A expenses increased to $195.0 million for FY 2025 from $97.3 million for FY 2024, mainly due to increased commercial preparation activities and personnel-related expenses, including stock-based compensation .

Loss from Operations

• Fourth Quarter: Loss from operations was - $361.626 million in Q4 2025, compared to - $216.310 million in Q4 2024 .
• Full Year: Loss from operations was - $1,182.369 million for FY 2025, compared to - $689.524 million for FY 2024 .

Net Loss

• Fourth Quarter: Net loss totaled - $364.9 million in Q4 2025, an increase from - $194.6 million in Q4 2024 .
• Full Year: Net loss totaled - $1.1 billion for FY 2025, compared to - $600.1 million for FY 2024 .

Interest Income

• Fourth Quarter: Interest income was $21.292 million in Q4 2025, compared to $21.225 million in Q4 2024 .
• Full Year: Interest income was $90.694 million for FY 2025, compared to $86.883 million for FY 2024 .

Interest Expense

• Fourth Quarter: Interest expense was - $11.936 million in Q4 2025, compared to $0 in Q4 2024 .
• Full Year: Interest expense was - $24.231 million for FY 2025, compared to $0 in FY 2024 .

Change in Fair Value of Warrant Liability and Contingent Earn-out Shares

• Fourth Quarter: This change was - $12.627 million in Q4 2025, compared to - $0.017 million in Q4 2024 .
• Full Year: This change was - $15.358 million for FY 2025, compared to $4.323 million for FY 2024 .

Other Income (Expense), Net

• Fourth Quarter: Other income (expense), net was $0.005 million in Q4 2025, compared to - $0.220 million in Q4 2024 .
• Full Year: Other income (expense), net was - $0.037 million for FY 2025, compared to - $2.528 million for FY 2024 .

Balance Sheet Highlights as of December 31, 2025 vs. 2024

Cash, Cash Equivalents and Marketable Securities

• This balance stood at $2,025,679 thousand in 2025, down from $2,289,299 thousand in 2024 . This figure includes a $250 million royalty monetization tranche received in June 2025, with an additional $1.75 billion in future committed capital under the arrangement with Royalty Pharma .

Working Capital

• Working capital was $1,784,613 thousand in 2025, compared to $2,163,718 thousand in 2024 .

Total Assets

• Total assets were $2,354,508 thousand in 2025, compared to $2,558,301 thousand in 2024 .

Total Liabilities

• Total liabilities were $723,211 thousand in 2025, compared to $293,097 thousand in 2024 .

Total Stockholders’ Equity

• Total stockholders’ equity was $1,631,297 thousand in 2025, compared to $2,265,204 thousand in 2024 .

2026 Financial Guidance

Revolution Medicines anticipates full year 2026 GAAP operating expenses to be between $1.6 billion and $1.7 billion, which incorporates an estimated non-cash stock-based compensation expense ranging from $180 million to $200 million . The company plans to continue advancing its broad late-stage pipeline with five ongoing Phase 3 trials and three additional Phase 3 trials planned to initiate in 2026 .

Note: Segment revenue, gross margin, operating margin, operating cash flow, and free cash flow were not explicitly provided in the reference text .