Q1 26 EPS
$-2.29
Q1 26 Revenue
N/A
vs S&P Since Q1 26
+2,902.5%
BEATING MARKET
RVMD +2,905.6% vs S&P +3.1%
Market Reaction
Did RVMD Beat Earnings? Q1 2026 Results
Revolution Medicines delivered a quarter defined far more by clinical progress than by its financial results, as the company reported a first-quarter 2026 loss of $2.29 per share while unveiling Phase 3 data for daraxonrasib in previously treated met… Read more Revolution Medicines delivered a quarter defined far more by clinical progress than by its financial results, as the company reported a first-quarter 2026 loss of $2.29 per share while unveiling Phase 3 data for daraxonrasib in previously treated metastatic pancreatic cancer that showed median overall survival of 13.2 months versus 6.7 months for chemotherapy, with a hazard ratio of 0.40. The net loss widened to $453.82 million from $213.42 million a year ago, driven largely by R&D expenses climbing to $343.97 million from $205.75 million and G&A costs nearly tripling to $101.25 million from $35.01 million, partly due to $44.60 million in incremental stock-based compensation tied to retirement benefit modifications. The company plans to submit the RASolute 302 findings to the FDA and other global regulators, and updated its full-year 2026 GAAP operating expense guidance to $1.70 billion to $1.80 billion. With approximately $4.00 billion in pro forma cash following April financings that raised $2.10 billion in net proceeds, Revolution enters its regulatory push from a position of considerable financial strength.
Key Takeaways
- • Positive Phase 3 RASolute 302 results for daraxonrasib in 2L PDAC showing statistically significant OS and PFS improvements
- • Breadth of RAS(ON) pipeline with four clinical-stage inhibitors across PDAC, NSCLC, and CRC
- • Significant capital raise of $2.225 billion in gross proceeds strengthening financial position
RVMD Forward Guidance & Outlook
Revolution Medicines updated full-year 2026 GAAP operating expenses guidance to $1.7 to $1.8 billion, reflecting higher projected non-cash stock-based compensation expense now estimated at $260–$280 million. The company plans to submit RASolute 302 data to global regulatory authorities including the FDA. Multiple Phase 3 trials are advancing: RASolute 303 (1L PDAC) has begun treating patients, RASolute 304 (adjuvant PDAC) enrollment continues, RASolve 301 (NSCLC) expects to substantially complete enrollment in 2026, RASolve 308 (zoldonrasib 1L NSCLC) is on track for initiation in H1 2026, and RASolute 309 (zoldonrasib + daraxonrasib doublet) is expected to initiate in H2 2026. A first-in-human trial of novel catalytic RAS(ON) inhibitor RM-055 is planned for Q4 2026. The company's pro forma cash position is approximately $4 billion following April 2026 financings.
RVMD YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
“Last month we reported positive results from the RASolute 302 trial of daraxonrasib, demonstrating an unprecedented improvement in overall survival in patients with previously treated metastatic pancreatic cancer. These results, which we intend to submit to global health authorities, mark a major advance for patients and strengthen our conviction in our RAS(ON) inhibition strategy across RAS-driven cancers. Reinforced by a growing body of evidence supporting our portfolio led by four innovative clinical-stage RAS(ON) inhibitors and continued expansion of our commercialization capabilities, our goal is to build Revolution Medicines into a leading targeted oncology company capable of delivering impactful therapies to patients worldwide.”
— Mark A. Goldsmith, Q1 2026 Earnings Press Release
RVMD Earnings Trends
RVMD vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
RVMD EPS Trend
Earnings per share: estimate vs actual
RVMD Revenue Trend
Quarterly revenue: estimate vs actual
RVMD Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $-2.29 | — | — | — |
| Q4 25 MISS FY | $-1.58 | $-1.86 | -17.72% | — | — |
| FY Full Year | $-5.53 | $-5.95 | -7.53% | — | — |
| Q3 25 MISS | $-1.41 | $-1.61 | -14.25% | — | — |
| Q2 25 MISS | $-1.12 | $-1.31 | -16.75% | — | — |
| Q1 25 MISS | $-1.06 | $-1.13 | -7.02% | — | — |