Q3 25 EPS
$-1.10
MISS 7.10%
Est. $-1.03
Q3 25 Revenue
$9.7M
MISS 23.79%
Est. $12.7M
vs S&P Since Q3 25
+38.1%
BEATING MARKET
BEAM +48.0% vs S&P +9.9%
Market Reaction
Did BEAM Beat Earnings? Q3 2025 Results
Beam Therapeutics delivered a disappointing third quarter, missing on both top and bottom lines as heavier research spending weighed on results. The clinical-stage base editing company posted a loss of $1.10 per share, coming in 7.10% below the conse… Read more Beam Therapeutics delivered a disappointing third quarter, missing on both top and bottom lines as heavier research spending weighed on results. The clinical-stage base editing company posted a loss of $1.10 per share, coming in 7.10% below the consensus estimate of $1.03, while revenue fell to $9.70 million, a 23.79% shortfall versus the $12.72 million analysts had expected and a steep 32.0% decline from the $14.27 million recorded a year ago. The primary culprit was a surge in R&D expenses to $109.77 million, including $14.50 million in in-process R&D tied to an acquisition completed during the quarter, widening the net loss to $112.73 million. Still, the narrative is not entirely downbeat; Beam ended September with roughly $1.1 billion in cash, extending its runway into 2028, and investor attention is increasingly focused on pipeline catalysts, including updated BEAM-302 Phase 1/2 data expected in early 2026 and BEAM-101 sickle cell results set for presentation at the ASH Annual Meeting in December 2025, with potential proceeds from Bristol Myers Squibb's $1.50 billion acquisition of Orbital Therapeutics adding another variable to the outlook.
Key Takeaways
- • Increased R&D spending driven by clinical trial advancement and $14.5 million in-process R&D from acquisition
- • Interest and other income of $10.9 million partially offsetting operating losses
- • Higher share count (102.6 million vs 82.4 million) contributing to improved per-share loss despite wider absolute net loss
BEAM YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
“As we near the end of 2025, we see broad-based momentum across our growing portfolio of clinical-stage hematology and liver-targeted genetic disease base editing programs. Our alpha-1 antitrypsin deficiency program, the first clinical program to directly correct a disease-causing mutation in vivo, remains a top priority, and we're pleased with the continued enrollment and dosing progress in the BEAM-302 Phase 1/2 trial. We look forward to providing a broad update on the program in early 2026 with new clinical data and next steps to advance BEAM-302 to patients. In sickle cell disease, we look forward to sharing updated data from the BEACON trial of BEAM-101 at the ASH meeting in December, where we aim to continue to demonstrate a differentiated manufacturing and clinical profile in these patients with recurrent severe VOCs. We have also initiated dosing of the BEAM-103 antibody from our ESCAPE platform, which we believe can play an important role in next wave therapies for sickle cell disease.”
— John Evans, Q3 2025 Earnings Press Release
BEAM Earnings Trends
BEAM vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
BEAM EPS Trend
Earnings per share: estimate vs actual
BEAM Revenue Trend
Quarterly revenue: estimate vs actual
BEAM Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $-1.01 | $-0.91 | +10.06% | $31.7M | +159.70% |
| Q4 25 BEAT FY | $-1.12 | $2.33 | +308.97% | $114.1M | +781.34% |
| FY Full Year | $-4.28 | $-0.81 | +81.08% | $139.7M | +262.99% |
| Q3 25 MISS | $-1.03 | $-1.10 | -7.10% | $9.7M | -23.79% |
| Q2 25 BEAT | $-1.09 | $-1.00 | +8.37% | $8.5M | -36.31% |
| Q1 25 MISS | $-1.17 | $-1.24 | -5.86% | $7.5M | -49.13% |