Fulcrum Therapeutics (FULC) financial statements
Fulcrum Therapeutics reported revenue of $0 in fiscal 2025, up 73.5% a year over 4 years.
Net income was -$75M.
Free cash flow was -$60M.
The diluted share count rose 4940% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Fulcrum Therapeutics's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | $9M | $19M | $6M | $3M | $80M | $0 |
| Research and development | $25M | $71M | $59M | $70M | $77M | $72M | $63M | $56M |
| Selling, general and admin | $8M | $13M | $21M | $31M | $42M | $42M | $36M | $29M |
| Operating income | -$33M | -$84M | -$72M | -$81M | -$113M | -$111M | -$22M | -$85M |
| Income tax | — | — | — | — | — | — | $0 | $0 |
| Net income | -$33M | -$83M | -$71M | -$81M | -$110M | -$97M | -$10M | -$75M |
| EPS (diluted) | -$31.14 | -$8.13 | -$2.79 | -$2.29 | -$2.44 | -$1.59 | -$0.16 | -$1.18 |
| Diluted shares | 1M | 11M | 25M | 35M | 45M | 61M | 62M | 63M |
| Operating margin | — | — | -811.6% | -423.0% | -1774.9% | -3945.2% | -27.4% | — |
| Net margin | — | — | -802.7% | -421.9% | -1732.4% | -3470.1% | -12.2% | — |
Balance sheet
Fiscal years, from Fulcrum Therapeutics's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $73M | $97M | $57M | $35M | $35M | $26M | $58M | $198M |
| Total current assets | $74M | $100M | $120M | $226M | $208M | $242M | $250M | $357M |
| Property, plant and equipment | $11M | $9M | $8M | $7M | $7M | $5M | $4M | $3M |
| Total assets | $86M | $110M | $130M | $235M | $227M | $258M | $261M | $366M |
| Total current liabilities | $4M | $12M | $27M | $19M | $17M | $14M | $11M | $13M |
| Total liabilities | $10M | $23M | $34M | $23M | $28M | $23M | $18M | $17M |
| Shareholders' equity | -$64M | $87M | $95M | $212M | $199M | $235M | $243M | $349M |
| Net debt | -$73M | -$97M | -$57M | -$35M | -$35M | -$26M | -$58M | -$198M |
Cash flow
Fiscal years, from Fulcrum Therapeutics's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$23M | -$39M | -$54M | -$78M | -$97M | -$91M | -$2M | -$60M |
| Capital spending | $9M | $853,000 | $1M | $2M | $2M | $508,000 | $278,000 | $314,000 |
| Free cash flow | -$32M | -$40M | -$55M | -$80M | -$99M | -$91M | -$2M | -$60M |
| Stock-based compensation | $2M | $4M | $7M | $11M | $13M | $15M | $15M | $12M |
| Free cash flow margin | — | — | -623.3% | -418.5% | -1561.2% | -3261.1% | -3.1% | — |
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Open FULC in InvestinglyQuestions
What was Fulcrum Therapeutics's revenue in 2025?
$0 in fiscal 2025, from its 10-K filing.
How much free cash flow does Fulcrum Therapeutics generate?
-$60M in fiscal 2025 (operating cash flow minus capital spending).
From Fulcrum Therapeutics's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.