Fate Therapeutics (FATE) financial statements
Fate Therapeutics reported revenue of $7M in fiscal 2025, up 4.7% a year over 9 years.
Net income was -$136M and the operating margin -2222.4%, against -726.1% in 2016.
Free cash flow was -$112M.
The diluted share count rose 274% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Fate Therapeutics's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4M | $4M | $5M | $11M | $31M | $56M | $96M | $64M | $14M | $7M |
| Research and development | $26M | $34M | $56M | $88M | $126M | $216M | $320M | $173M | $135M | $108M |
| Selling, general and admin | $10M | $12M | $16M | $24M | $34M | $57M | $84M | $81M | $74M | $47M |
| Operating income | -$32M | -$42M | -$67M | -$101M | -$128M | -$217M | -$308M | -$191M | -$210M | -$148M |
| Interest expense | $2M | $1M | $2M | $2M | $0 | $0 | — | — | — | — |
| Income tax | — | — | — | $0 | $0 | $0 | $0 | $0 | $0 | $2,000 |
| Net income | -$33M | -$43M | -$67M | -$98M | -$173M | -$212M | -$282M | -$161M | -$186M | -$136M |
| EPS (diluted) | -$1.05 | -$1.02 | -$1.19 | -$1.44 | -$2.10 | -$2.24 | -$2.91 | -$1.64 | -$1.64 | -$1.15 |
| Diluted shares | 32M | 42M | 56M | 68M | 82M | 95M | 97M | 98M | 114M | 119M |
| Operating margin | -726.1% | -1025.9% | -1415.4% | -943.1% | -407.5% | -388.6% | -320.2% | -299.9% | -1542.6% | -2222.4% |
| Net margin | -760.2% | -1046.1% | -1405.0% | -919.0% | -551.6% | -379.9% | -292.5% | -253.3% | -1366.5% | -2051.1% |
Balance sheet
Fiscal years, from Fate Therapeutics's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $92M | $89M | $191M | $100M | $167M | $616M | $436M | $315M | $279M | $204M |
| Receivables | — | — | $500,000 | — | $6M | $9M | $38M | $2M | $4M | $916,000 |
| Total current assets | $93M | $103M | $205M | $227M | $494M | $633M | $502M | $332M | $292M | $209M |
| Property, plant and equipment | $2M | $3M | $5M | $11M | $32M | $92M | $110M | $97M | $64M | $57M |
| Total assets | $95M | $105M | $213M | $302M | $622M | $921M | $706M | $506M | $441M | $319M |
| Total current liabilities | $15M | $11M | $27M | $28M | $86M | $81M | $114M | $39M | $39M | $36M |
| Long-term debt | $3M | $15M | $12M | — | — | — | — | — | — | — |
| Total liabilities | $22M | $28M | $53M | $58M | $238M | $243M | $222M | $138M | $122M | $112M |
| Shareholders' equity | $73M | $77M | $160M | $245M | $384M | $679M | $484M | $368M | $319M | $207M |
| Net debt | -$78M | -$74M | -$176M | -$100M | -$167M | -$134M | -$61M | -$42M | -$36M | -$47M |
Cash flow
Fiscal years, from Fate Therapeutics's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$30M | -$37M | -$39M | -$83M | -$39M | -$163M | -$248M | -$132M | -$123M | -$106M |
| Capital spending | $457,000 | $2M | $2M | $7M | $5M | $51M | $36M | $6M | $730,000 | $6M |
| Free cash flow | -$30M | -$39M | -$41M | -$91M | -$44M | -$214M | -$284M | -$138M | -$124M | -$112M |
| Stock-based compensation | $3M | $4M | $6M | $17M | $31M | $54M | $79M | $43M | $41M | $25M |
| Net borrowing | -$8M | $4M | — | -$15M | — | — | — | — | — | — |
| Free cash flow margin | -687.9% | -938.7% | -864.0% | -848.0% | -140.5% | -382.4% | -294.7% | -217.9% | -906.8% | -1685.8% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for FATE.
Open FATE in InvestinglyQuestions
What was Fate Therapeutics's revenue in 2025?
$7M in fiscal 2025, from its 10-K filing.
How much free cash flow does Fate Therapeutics generate?
-$112M in fiscal 2025 (operating cash flow minus capital spending).
From Fate Therapeutics's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.