RVMD financial statements

The full income statement, balance sheet, and cash-flow statement for Revolution Medicines Inc. (RVMD), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-06 167.0M2024-09 168.2M2024-12 185.9M2025-03 186.3M2025-06 186.9M2025-09 193.3M2025-12 198.2M2026-03 212.6M2026-06 214.3M+28.3% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	0.00	0.00 YoY-100.0%	11.6M YoY-67.3%	35.4M YoY+20.4%	29.4M YoY-31.6%
	1.18B YoY+71.5%	690M YoY+38.2%	499M YoY+69.8%	294M YoY+35.1%	217M YoY+41.5%
Research & development	987M YoY+66.7%	592M YoY+40.0%	423M YoY+67.2%	253M YoY+35.4%	187M YoY+41.4%
Selling, general & administrative	195M YoY+100.5%	97.3M YoY+28.7%	75.6M YoY+86.3%	40.6M YoY+33.3%	30.4M YoY+42.1%
General & administrative	195M YoY+100.5%	97.3M YoY+28.7%	75.6M YoY+86.3%	40.6M YoY+33.3%	30.4M YoY+42.1%
Amortization of intangibles	870K YoY-18.6%	1.07M YoY+0.1%	1.07M YoY-0.1%	1.07M YoY+0.0%	1.07M YoY+0.1%
Operating income	-1.18B YoY-71.5%	-690M YoY-41.5%	-487M YoY-88.6%	-258M YoY-37.4%	-188M YoY-69.8%
Interest expense	24.2M	0.00	0.00	0.00 YoY-100.0%	12.0K YoY-83.1%
Interest & investment income	90.7M YoY+4.4%	86.9M YoY+83.0%	47.5M YoY+418.7%	9.15M YoY+885.4%	929K YoY-58.5%
Other non-operating income	51.1M YoY-42.4%	88.7M YoY+87.5%	47.3M YoY+416.6%	9.15M YoY+898.3%	917K YoY-57.7%
Pre-tax income	-1.13B YoY-88.3%	-601M YoY-36.6%	-440M YoY-76.6%	-249M YoY-33.2%	-187M YoY-72.4%
Income tax	0.00 YoY+100.0%	-753K YoY+78.6%	-3.52M YoY-739.0%	-420K	0.00 YoY+100.0%
	-1.13B YoY-88.5%	-600M YoY-37.5%	-436M YoY-75.5%	-249M YoY-32.9%	-187M YoY-73.0%
Net income to common	-1.13B YoY-88.5%	-600M YoY-37.5%	-436M YoY-75.5%	-249M YoY-32.9%	-187M YoY-69.5%
	-$5.95 YoY-66.2%	-$3.58 YoY+7.3%	-$3.86 YoY-25.3%	-$3.08 YoY-19.8%	-$2.57 YoY-27.9%
EPS (basic)	-$5.95 YoY-66.2%	-$3.58 YoY+7.3%	-$3.86 YoY-25.3%	-$3.08 YoY-19.8%	-$2.57 YoY-27.9%
	190M YoY+13.3%	168M YoY+48.2%	113M YoY+40.3%	80.6M YoY+10.7%	72.8M YoY+32.7%
	190M YoY+13.3%	168M YoY+48.2%	113M YoY+40.3%	80.6M YoY+10.7%	72.8M YoY+32.7%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	2.08B YoY-10.9%	2.33B YoY+23.9%	1.88B YoY+184.7%	660M YoY+11.9%	590M YoY+29.9%
Cash & equivalents	384M YoY-29.3%	543M YoY-22.0%	696M YoY+331.3%	161M YoY+48.8%	108M YoY+4.1%
Short-term investments	1.64B YoY-6.0%	1.75B YoY+51.0%	1.16B YoY+139.2%	484M YoY+3.2%	469M YoY+39.3%
Prepaid expenses	49.4M YoY+28.8%	38.3M YoY+52.9%	25.1M YoY+137.2%	10.6M YoY+55.7%	6.79M YoY-2.8%
	2.35B YoY-8.0%	2.56B YoY+24.1%	2.06B YoY+153.9%	812M YoY+10.0%	738M YoY+30.1%
Property, plant & equipment	33.2M YoY+36.7%	24.3M YoY+6.2%	22.9M YoY+22.5%	18.7M YoY+61.6%	11.5M YoY+29.7%
Operating lease right-of-use	132M YoY+12.4%	118M YoY+52.3%	77.1M YoY+40.1%	55.1M YoY-7.7%	59.7M YoY+117.6%
Goodwill	14.6M YoY+0.0%	14.6M YoY+0.0%	14.6M YoY+0.0%	14.6M YoY+0.0%	14.6M YoY+0.0%
Intangible assets	55.8M YoY-1.5%	56.7M YoY-1.9%	57.7M YoY-1.8%	58.8M YoY-1.8%	59.9M YoY-1.8%
Other non-current assets	14.8M YoY+748.4%	1.74M YoY-75.2%	7.03M YoY+146.1%	2.86M YoY+276.9%	758K YoY+148.5%
	290M YoY+77.2%	164M YoY+13.9%	144M YoY+132.1%	62.0M YoY+2.7%	60.4M YoY+27.9%
Accounts payable	64.6M YoY+18.7%	54.4M YoY-11.9%	61.8M YoY+190.0%	21.3M YoY+51.6%	14.1M YoY+11.5%
Accrued liabilities	5.00M	—	—	—	—
Deferred revenue	—	—	0.00 YoY-100.0%	4.46M YoY-63.9%	12.4M YoY+2.0%
Current lease liability	16.5M YoY+27.9%	12.9M YoY+74.7%	7.37M YoY+8.8%	6.77M YoY+9.0%	6.21M YoY+69.2%
Other current liabilities	7.86M YoY+1247.9%	583K YoY-85.0%	3.90M YoY+671.5%	505K YoY+62.4%	311K YoY+220.6%
	723M YoY+146.7%	293M YoY+24.5%	236M YoY+85.8%	127M YoY-6.4%	135M YoY+46.0%
Deferred revenue (non-current)	—	—	—	0.00 YoY-100.0%	6.57M YoY-22.5%
Non-current lease liability	142M YoY+15.7%	123M YoY+52.6%	80.6M YoY+40.3%	57.4M YoY-4.9%	60.4M YoY+108.4%
Operating lease liability (total)	159M YoY+16.8%	136M YoY+54.5%	87.9M YoY+37.0%	64.2M YoY-3.6%	66.6M YoY+104.0%
Deferred tax liabilities	2.35M YoY+0.0%	2.35M YoY-24.5%	3.12M YoY-55.7%	7.03M YoY-5.6%	7.44M YoY+0.0%
Other non-current liabilities	1.21M YoY+80.3%	670K YoY-54.0%	1.46M YoY+384.4%	301K YoY-52.5%	634K YoY+0.3%
	1.63B YoY-28.0%	2.27B YoY+24.0%	1.83B YoY+166.5%	685M YoY+13.7%	603M YoY+26.9%
Preferred stock	0.00	0.00	0.00	0.00	0.00
Common stock	19.0K YoY+5.6%	18.0K YoY+12.5%	16.0K YoY+77.8%	9.00K YoY+12.5%	8.00K YoY+14.3%
Additional paid-in capital	4.50B YoY+12.4%	4.00B YoY+35.0%	2.96B YoY+113.5%	1.39B YoY+31.5%	1.06B YoY+42.6%
Retained earnings	-2.87B YoY-65.1%	-1.74B YoY-52.7%	-1.14B YoY-62.2%	-701M YoY-54.9%	-453M YoY-70.5%
Accumulated other comprehensive income	3.24M YoY+145.0%	1.32M YoY+142.8%	544K YoY+130.6%	-1.78M YoY-373.4%	-376K YoY-424.1%
Total liabilities & equity	2.35B YoY-8.0%	2.56B YoY+24.1%	2.06B YoY+153.9%	812M YoY+10.0%	738M YoY+30.1%
	197M YoY+6.0%	186M YoY+9.2%	170M YoY+88.3%	90.4M YoY+21.9%	74.1M YoY+11.3%
	197M YoY+6.0%	186M YoY+12.9%	165M YoY+82.1%	90.4M YoY+21.9%	74.1M YoY+11.3%
	198M YoY+6.6%	186M YoY+12.9%	165M YoY+82.0%	90.5M YoY+22.0%	74.2M YoY+1.1%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	-898M YoY-61.0%	-557M YoY-59.0%	-351M YoY-56.2%	-224M YoY-52.5%	-147M YoY-47.1%
Depreciation & amortization	7.78M YoY+18.6%	6.56M YoY+30.1%	5.04M YoY+26.9%	3.97M YoY+28.8%	3.08M YoY+18.1%
Intangible amortization	870K YoY-18.6%	1.07M YoY+0.1%	1.07M YoY-0.1%	1.07M YoY+0.0%	1.07M YoY+0.1%
Share-based compensation	118M YoY+49.5%	79.2M YoY+28.2%	61.8M YoY+98.0%	31.2M YoY+50.5%	20.7M YoY+133.2%
Deferred income taxes	0.00 YoY+100.0%	-738K YoY+80.8%	-3.85M YoY-816.2%	-420K	—
Change in receivables	0.00 YoY+100.0%	-1.25M YoY+63.3%	-3.42M YoY-172.2%	-1.26M YoY-170.7%	-464K YoY+80.2%
Change in payables	9.54M YoY+247.5%	-6.46M YoY-119.9%	32.5M YoY+345.5%	7.29M YoY+225.5%	2.24M YoY+634.1%
	118M YoY+121.3%	-554M YoY-61.8%	-343M YoY-1320.6%	-24.1M YoY+83.0%	-142M YoY+39.3%
Capital expenditure	16.0M YoY+55.1%	10.3M YoY+33.4%	7.73M YoY-28.5%	10.8M YoY+65.7%	6.53M YoY+122.6%
Free cash flow	-914M YoY-60.9%	-568M YoY-58.5%	-358M YoY-52.3%	-235M YoY-53.0%	-154M YoY-49.2%
Acquisitions	0.00	0.00	0.00	0.00	0.00
	622M YoY-35.2%	959M YoY-21.9%	1.23B YoY+307.8%	301M YoY+2.5%	294M YoY-30.4%
Long-term debt issued	0.00	0.00	0.00	0.00	0.00
Long-term debt repaid	0.00	0.00	0.00	0.00	0.00
Common stock issued	0.00 YoY-100.0%	728M YoY+124.8%	324M YoY+30.5%	248M YoY-11.7%	281M YoY-33.1%
Common stock repurchased	0.00	0.00	0.00	0.00	0.00
Dividends paid	0.00	0.00	0.00	0.00	0.00
Net change in cash	-158M YoY-3.8%	-152M YoY-128.4%	536M YoY+913.0%	52.9M YoY+983.9%	4.88M YoY-94.5%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	15.8B YoY+94.1%	8.13B YoY+158.8%	3.14B YoY+48.6%	2.11B YoY+13.3%	1.87B YoY-35.7%
P/S	—	—	120.1× YoY+67.5%	71.7× YoY+12.8%	63.5× YoY-6.0%
P/B	9.7× YoY+169.5%	3.6× YoY-4.3%	3.8× YoY+20.9%	3.1× YoY+0.2%	3.1× YoY-49.4%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: RVMD's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all RVMD filings on SEC EDGAR → Not investment advice.