Revolution Medicines, Inc.

For the period ended Sep 30, 2026. Filed Nov 4, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2026 · Filed Nov 4, 2026

RVMD$193.06-3.5%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Cash Flows

(in thousands)

	Nine Months Ended September 30,
	2026	2025
Cash flows from operating activities
Net loss	$(1,505,644)	$(766,409)
Adjustments to reconcile net loss to net cash used in operating activities:
Loss on disposal of fixed assets	14	32
Amortization of intangible assets	326	801
Stock-based compensation expense	216,933	84,693
Depreciation and amortization	7,428	5,513
Change in fair value of warrant liability	207,521	2,731
Non-cash interest expense on liabilities related to sale of future royalties	67,829	12,294
Non-cash interest expense on convertible senior notes	1,952	—
Net amortization of premium or discount on marketable securities	(13,012)	(23,277)
Amortization of operating lease right-of-use asset	6,689	5,542
Changes in operating assets and liabilities:
Accounts receivable	(230,724)	—
Inventory	(11,018)	—
Prepaid expenses and other current assets	(34,213)	(6,290)
Accounts payable	35,693	20,036
Accrued expenses and other current liabilities	145,986	57,663
Operating lease liability	(7,479)	(1,198)
Deferred tax liability	(2,353)	—
Long-term deposits	(41,503)	(4,723)
Other prepaid and noncurrent assets	(351)	(12,718)
Other noncurrent liabilities	(1,208)	1,807
Net cash used in operating activities	(1,157,134)	(623,503)
Cash flows from investing activities
Purchases of marketable securities	(2,788,839)	(1,498,365)
Maturities of marketable securities	1,380,959	1,549,222
Sales of marketable securities	9,443	6,384
Purchases of property and equipment	(7,520)	(14,065)
Net cash provided by (used in) investing activities	(1,405,957)	43,176
Cash flows from financing activities
Proceeds from issuance of common stock, net of issuance costs	1,651,355	—
Proceeds from the sale of future royalties, net of issuance costs	245,000	244,215
Proceeds from issuance of common stock pursuant to at-the-market offering, net of issuance costs	352,565	—
Proceeds from issuance of convertible senior notes, net	487,067	—
Proceeds from issuance of common stock under equity incentive plans	60,596	6,973
Proceeds from issuance of common stock related to employee stock purchase plan	8,473	4,644
Proceeds from exercise of warrants	2,078	4
Deferred offering costs	(908)	29
Net cash provided by financing activities	2,806,226	255,865
Net increase (decrease) in cash, cash equivalents and restricted cash	243,135	(324,462)
Cash, cash equivalents and restricted cash - beginning of period	388,603	546,762
Cash, cash equivalents and restricted cash - end of period	$631,738	$222,300
Reconciliation of cash, cash equivalents and restricted cash to consolidated balance sheets
Cash and cash equivalents	615,908	217,442
Restricted cash	15,830	4,858
Cash, cash equivalents and restricted cash - end of period	$631,738	$222,300
Supplemental disclosure of non-cash investing and financing activities
Purchases of property and equipment in accounts payable and accrued expenses and other current liabilities	$2,425	$1,422
Right-of-use assets obtained in exchange for operating lease liabilities	—	22,458

ContentsView on SEC.gov

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