Cullinan Therapeutics, Inc. income statement CGEM

Annual Quarterly

It recorded a net loss of $53.7 million.

USD in millions, except per-share amounts and margins. The percent under a figure is the change from the same quarter a year earlier.

Line	Q2 FY2026 Jun 30, 2026	Q1 FY2026 Mar 31, 2026	Q4 FY2025 Dec 31, 2025	Q3 FY2025 Sep 30, 2025	Q2 FY2025 Jun 30, 2025	Q1 FY2025 Mar 31, 2025	Q4 FY2024 Dec 31, 2024	Q3 FY2024 Sep 30, 2024
Research and development	44 -27.2%	42 +1.6%	43 +6.1%	42 +18.2%	61 +68.3%	41 +35.3%	40 +16.2%	36 +5.0%
Selling, general and administrative	13 -13.2%	12 -14.5%	12 -15.4%	14 +2.1%	15 +7.3%	14 +9.7%	15 +36.8%	13 +21.6%
Operating income	-57 +24.5%	-54 +2.4%	-55 -0.4%	-56 -13.8%	-76 -51.5%	-55 -27.9%	-55 -21.0%	-49 -8.0%
Net income	-54 +23.3%	-50 -2.4%	-51 -6.4%	-51 -24.8%	-70 -66.7%	-49 -29.9%	-48 -86.4%	-41 -3.5%
Basic EPS	—	—	—	—	—	—	—	-0.69 +24.2%
Diluted EPS	—	—	—	—	—	—	—	-0.69 +24.2%
Weighted average shares, basic	—	—	—	—	—	—	—	58 +36.5%
Weighted average shares, diluted	—	—	—	—	—	—	—	58 +36.5%
Other measures
Depreciation and amortization	0 +2.6%	0 +3.9%	0 +2.6%	0 +3.9%	0 +0.0%	0 +0.0%	0 +0.0%	0 -5.0%
EBITDA	-57 +24.5%	-54 +2.4%	-55 -0.4%	-56 -13.8%	-76 -51.6%	-55 -28.0%	-55 -21.1%	-49 -8.0%

How these figures are calculated

Quarterly columns are single-quarter amounts. When a 10-Q reports only a year-to-date total, as cash flow statements do, the quarter is that total minus the previous quarter's year-to-date total. The fourth quarter is the annual report's full year minus the first nine months. A column marked YTD is a year-to-date total, shown when the earlier report needed for the single quarter is missing. USD in millions, except per-share amounts and margins. Weighted average shares are in millions. Interest expense and finance costs are positive costs. A negative amount on a gain (loss) or income (expense) line is a loss or an expense. EBITDA is operating income plus depreciation and amortization. Interest coverage is operating income divided by interest expense. More on our methodology.

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Company profile

Industry: Biological Products, (No Diagnostic Substances) (SIC 2836)
Listed as: CGEM (Nasdaq)
Fiscal year ends: December 31
Incorporated in: DE
Headquarters: Cambridge, MA
SEC filer status: Non-accelerated filer, Smaller reporting company
SEC CIK: 1789972
Former names: Cullinan Oncology, Inc. (until Apr 2, 2024); Cullinan Management, Inc. (until Feb 22, 2021); Cullinan Oncology, LLC (until Jan 6, 2021)

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Source: SEC EDGAR filings. This is company-reported data, not investment advice.