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NASDAQ · BIOLOGICAL PRODUCTS, (NO DIAGNOSTIC SUBSTANCES) · SMALL CAP

4D Molecular Therapeutics, Inc. FDMT

7 fiscal years on record · USD · FY2025 reported · SEC filings only
$85.2M
▲ 230194.6% YoY
$-140.1M
$-109.6M

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Its products are developed with customized and evolved adeno-associated virus (AAV) vectors invented from its proprietary vector discovery platform, Therapeutic Vector Evolution (TVE), designed to generate vectors with properties that overcome the limitations of conventional AAV vectors. Its lead product candidate 4D-150 utilizes its proprietary R100 vector and a transgene encoding anti-VEGF biologics: aflibercept and an RNA interference approach targeting VEGF-C. As of March 6, 2026, the company had 196 full-time employees. The company was formed on September 12, 2013 as a Delaware limited liability company under the name 4D Molecular Therapeutics, LLC. On March 11, 2015, 4D Molecular Therapeutics, Inc. was incorporated as a Delaware corporation.

Written from the business description in 4D Molecular Therapeutics, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 18 March 2026. Every sentence was checked against that document before publication.

Growth

USD 85.2M
Revenue, FY2025 · full 7-year series below
Revenue $M Net income $M
FY2025 · Revenue 85.2 · Net income -140.1
30M60M-100M-200M
201920222025
Compound annual growth
+200.9%
+44.3%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +44.3% a year over the five years to FY2025.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

·
Operating margin Net margin
FY2023 · Operating -544.6% · Net -486.6%
-1000%-2000%-3000%
201920222025
ROE
FY2025 · ROE -27.6%
-10%-20%-30%
201920222025
Three returns, three denominators.

Each USD of equity lost 28 cents this year.

Cash & shareholders

·
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -109.6
-50M-100M
201920222025

Total assetsUSD 566.7M
EquityUSD 505.7M
CashUSD 60.2M
Current ratio9.39×

Equity funds 89% of total assets.

The 7-year record

7 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data
FDMT, 7-year financial record
Metric 2025202420232022202120202019
Revenue $B0.10.00.00.00.00.00.0
Operating income $B−0.2−0.2−0.1−0.1−0.1−0.1−0.1
EBITDA $B−0.2−0.2−0.1−0.1−0.1−0.1−0.0
Income tax $B0.00.00.00.00.00.0◌
Net income $B−0.1−0.2−0.1−0.1−0.1−0.1−0.0
Free cash flow $B−0.1−0.1−0.1−0.1−0.1−0.1−0.0
EPS, diluted $−2.42−2.98−2.58−3.32−2.57−8.82−9.59
Dividend / sh $◌◌◌◌◌◌◌
Payout % — not applicable: no dividend———————
ROE %−27.6−39.3−37.4−39.1−24.8——
Shares out B0.060.050.040.030.030.030.01

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

More in this sector

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Provenance

Company facts, as filed

How we verify · 0 failures in 28 reconciliationsAUDITED

Reconciled in 7 of the 7 fiscal years we could check. 24 checks were skipped: the balance sheet is not tagged before 2019. 12 checks were skipped: EPS is not tagged before 2019.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityBiological Products, (No Diagnostic Substances)
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
SEC categorysmaller reporting company
Data on record since2019

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