Relay Therapeutics, Inc. (RLAY) Stock Analysis
Healthcare · Biotechnology · NasdaqGM
Relay Therapeutics, Inc. (RLAY) posted $15.36M in revenue for fiscal 2025 (up 53.4% year over year), with a net loss of $276.48M, and has compounded revenue about -28.6%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Relay Therapeutics, Inc.
Relay Therapeutics, Inc. has grown revenue from $0 to $15.36M over the last 7 fiscal years, compounding about -28.6% a year. The most recent year was up 53.4%, so growth is actually accelerating.
Net margin sits at -1800.6%, up 1574.1 points year over year.
The one thing worth a second look in the filings is share count rising (dilution).
Synthesised from Relay Therapeutics, Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
Relay Therapeutics, Inc. revenue & earnings — last 7 fiscal years
| Metric | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $82.65M | $3.03M | $1.38M | $25.55M | $10.01M | $15.36M |
| Gross profit | — | — | — | — | — | — | — |
| Net income | $-75.31M | $-52.41M | $-363.87M | $-290.51M | $-341.97M | $-337.71M | $-276.48M |
| Net margin | — | -63.4% | -12012.9% | -21036.1% | -1338.7% | -3374.7% | -1800.6% |
Source: Relay Therapeutics, Inc. SEC filings (10-K).
Relay Therapeutics, Inc.: 2 potential red flags in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Share count rising (dilution)Shares outstanding grew 60.7% over 4 years (108.2M → 173.9M) — existing holders' stakes are being diluted.
- Currently unprofitableThe latest fiscal year was a net loss (net margin -1800.6%).
Explore 7 years of Relay Therapeutics, Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Relay Therapeutics, Inc. financial history by metric
About Relay Therapeutics, Inc.
Relay Therapeutics, Inc. operates as a clinical-stage precision medicines company. It transforms the drug discovery process with a focus on enhancing small molecule therapeutic discovery in targeted oncology and genetic disease indications. The company's lead product candidates include RLY-2608, a pan-mutant and isoform-selective phosphoinostide 3 kinase alpha, or PI3Ka, inhibitor that is in clinical development for the treatment of breast cancer, solid tumor, and vascular malformations; and aGal chaperone for Fabry diseases. It also develops RLY-8161, an oncogene driver that belongs to the RAS family of signaling proteins. In addition, the company develops lirafugratinib (RLY-4008), a receptor tyrosine kinase for the treatment of cancer. It has collaboration and license agreements with D. E. Shaw Research, LLC to research certain biological targets through the use of D. E. Shaw Research computational modeling capabilities focused on analysis of protein motion to develop and commercialize compounds and products directed to such targets; Elevar Therapeutics, Inc. for the development and commercialization of RLY-4008; and Pfizer Inc. for the development of RLY-2608 in combination with fulvestrant and atirmociclib. The company was formerly known as Allostery, Inc. and changed its name to Relay Therapeutics, Inc. in December 2015. Relay Therapeutics, Inc. was incorporated in 2015 and is headquartered in Cambridge, Massachusetts.
Relay Therapeutics, Inc. — frequently asked questions
What is Relay Therapeutics, Inc.'s revenue?
Relay Therapeutics, Inc. (RLAY) reported revenue of $15.36M for fiscal year 2025, up 53.4% from the prior year, according to its SEC filings.
Is Relay Therapeutics, Inc. profitable?
No — RLAY reported a net loss of $-276.48M in fiscal 2025.
What is RLAY's P/E ratio?
Relay Therapeutics, Inc. trades at a price-to-earnings ratio of about 0.0 based on the latest data in our nightly-refreshed cache.
How fast is Relay Therapeutics, Inc. growing?
RLAY's revenue grew at roughly -28.6% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Relay Therapeutics, Inc. have?
As of fiscal year 2025, RLAY carried roughly $0 in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Relay Therapeutics, Inc.'s market cap?
Relay Therapeutics, Inc. (RLAY) has a market capitalization of about $3.08B, based on the latest data in our nightly-refreshed cache.
When does Relay Therapeutics, Inc.'s fiscal year end?
RLAY's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
Where does this data come from?
All figures are computed from Relay Therapeutics, Inc.'s official SEC filings (10-K and 10-Q), covering 7 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.