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Q3 25 EPS
$-2.55
MISS 56.33%
Est. $-1.63
Q3 25 Revenue
$1.9M
MISS 69.88%
Est. $6.4M
vs S&P Since Q3 25
+36.1%
BEATING MARKET
CYTK +47.7% vs S&P +11.7%
Market Reaction
Did CYTK Beat Earnings? Q3 2025 Results
Cytokinetics delivered a bruising third quarter, missing on both the top and bottom lines as pre-launch spending and a sizable debt restructuring overwhelmed results. The South San Francisco-based cardiac muscle company posted a loss of $2.55 per sha… Read more Cytokinetics delivered a bruising third quarter, missing on both the top and bottom lines as pre-launch spending and a sizable debt restructuring overwhelmed results. The South San Francisco-based cardiac muscle company posted a loss of $2.55 per share, falling 56.33% short of the consensus estimate of $1.63, while revenue of $1.94 million, composed entirely of collaboration income, came in 69.88% below expectations despite representing 318.1% growth year over year. The primary culprit behind the widening net loss of $306.18 million was a $121.25 million non-cash expense tied to the exchange of roughly $399.50 million in 2027 convertible notes, a restructuring designed to strengthen the balance sheet ahead of aficamten's December 26, 2025 PDUFA date. The company simultaneously raised $750.00 million in new convertible notes, pushing cash and investments to approximately $1.25 billion. Looking ahead, management narrowed full-year GAAP operating expense guidance to $680 million to $700 million, signaling continued heavy investment in commercial readiness as the potential aficamten launch approaches.
Key Takeaways
- • Revenue primarily from collaboration revenues of $1.9 million in Q3 2025
- • R&D expense increase driven by advancing clinical trials and higher personnel-related costs
- • G&A expense increase driven by commercial readiness investments and higher personnel costs
- • Net loss significantly impacted by $121.2 million debt conversion expense from exchange of 2027 Notes
CYTK YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
CYTK Revenue by Segment
With YoY comparisons, source: SEC Filings
“I'm pleased that our teams continue to demonstrate strong execution and sustained momentum as we approach the PDUFA date for the aficamten NDA. Our commercial preparations have been deliberate and strategic, positioning us well for this milestone.”
— Robert I. Blum, Q3 2025 Earnings Press Release
CYTK Earnings Trends
CYTK vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
CYTK EPS Trend
Earnings per share: estimate vs actual
CYTK Revenue Trend
Quarterly revenue: estimate vs actual
CYTK Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $-1.63 | $-1.67 | -2.31% | $19.4M | +113.25% |
| Q4 25 MISS FY | $-1.37 | $-1.50 | -9.67% | $17.8M | +121.30% |
| FY Full Year | — | $-6.54 | — | $88.0M | — |
| Q3 25 MISS | $-1.63 | $-2.55 | -56.33% | $1.9M | -69.88% |
| Q2 25 BEAT | $-1.34 | $-1.12 | +16.12% | $66.8M | +3,131.07% |
| Q1 25 BEAT | $-1.36 | $-1.36 | +0.23% | $1.6M | -39.51% |