X4 Pharmaceuticals, Inc (XFOR) Financial Statements
Industry: Biological Products, (No Diagnostic Substances)
In fiscal 2025, X4 Pharmaceuticals reported revenue of $6.5M, up 154.2% from $2.6M the year before. Net income was -$79.2M (a -1218.4% net margin), or -$1.87 per diluted share. Gross margin was 11.4% and operating margin was -1336.7%. Operating activities generated -$85.6M of cash, leaving -$85.6M of free cash flow. At fiscal year end, X4 Pharmaceuticals held $290.5M in total assets against $104.2M in total liabilities, including $217.0M of cash and equivalents.
Open the full interactive X4 Pharmaceuticals financials → Quarterly statements, key ratios, valuation history and price charts.
X4 Pharmaceuticals Key Stats
| Share Price | $2.60 |
|---|---|
| Market Cap | $328.5M |
| Revenue YoY Growth | +154.2% |
| 52-Week Range | $2.60 – $4.67 |
| Shares Outstanding | 126.3 million (basic, 2026 Q2) |
X4 Pharmaceuticals Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $3.0M | $0 | $0 | $0 | $2.6M | $6.5M |
| Cost of Goods Sold | — | — | — | — | $39.0M | — |
| Gross Profit | — | — | — | — | $1.8M | $743,000 |
| Operating Income | -$59.9M | -$85.1M | -$87.6M | -$107.5M | -$36.4M | -$86.9M |
| Pre-Tax Income | -$62.0M | -$88.7M | -$93.8M | -$101.1M | -$37.1M | -$79.2M |
| Income Tax | $148,000 | $17,000 | $28,000 | $78,000 | $310,000 | $41,000 |
| Net Income | -$62.1M | -$88.7M | -$93.9M | -$101.2M | -$37.5M | -$79.2M |
| Diluted EPS | -$92.70 | -$119.70 | -$45.60 | -$17.10 | -$5.70 | -$1.87 |
X4 Pharmaceuticals Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $1.6M | $2.3M | $2.5M | $2.4M |
| Net Income | -$29.8M | -$23.9M | -$20.2M | -$16.2M |
| Diluted EPS | -$0.69 | -$0.57 | -$0.16 | -$0.13 |
X4 Pharmaceuticals Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $78.7M | $81.8M | $121.7M | $99.2M | $55.7M | $217.0M |
| Current Assets | $83.3M | $87.9M | $128.7M | $122.1M | $112.2M | $261.6M |
| Total Assets | $122.9M | $117.2M | $155.6M | $147.3M | $146.4M | $290.5M |
| Current Liabilities | $11.9M | $14.0M | $22.3M | $22.9M | $32.9M | $25.8M |
| Total Long-Term Debt | $32.5M | $33.9M | $33.6M | $55.0M | $75.0M | $75.0M |
| Total Liabilities | $50.1M | $52.8M | $81.5M | $96.2M | $124.3M | $104.2M |
| Shareholders' Equity | $72.8M | $64.4M | $74.1M | $51.1M | $22.1M | $186.3M |
X4 Pharmaceuticals Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$58.8M | -$70.9M | -$77.1M | -$96.5M | -$130.9M | -$85.6M |
| Cash From Investing | -$1.4M | -$615,000 | -$103,000 | -$14.9M | $67.0M | $8.2M |
| Cash From Financing | $12.4M | $74.2M | $117.2M | $88.5M | $20.3M | $238.6M |
| Free Cash Flow | -$60.2M | -$71.5M | -$77.2M | -$96.5M | -$131.2M | -$85.6M |
Figures from X4 Pharmaceuticals' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full X4 Pharmaceuticals financials page for every line item.
X4 Pharmaceuticals Company Profile
| Ticker | XFOR |
|---|---|
| Exchange | Nasdaq |
| Industry | Biological Products, (No Diagnostic Substances) |
| Headquarters | Boston, Massachusetts |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Non-accelerated filer, smaller reporting company |
| SEC CIK | 0001501697 |
Frequently Asked Questions
What was X4 Pharmaceuticals' revenue in fiscal 2025?
X4 Pharmaceuticals (XFOR) reported revenue of $6.5M for fiscal 2025.
What is X4 Pharmaceuticals' annual revenue history?
X4 Pharmaceuticals' annual revenue by fiscal year: 2020: $3.0M; 2021: $0; 2022: $0; 2023: $0; 2024: $2.6M; 2025: $6.5M.
What was X4 Pharmaceuticals' net income in fiscal 2025?
X4 Pharmaceuticals reported net income of -$79.2M for fiscal 2025.
What was X4 Pharmaceuticals' earnings per share (EPS) in fiscal 2025?
X4 Pharmaceuticals' diluted EPS was -$1.87 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did X4 Pharmaceuticals generate in fiscal 2025?
X4 Pharmaceuticals generated -$85.6M of free cash flow in fiscal 2025.
What was X4 Pharmaceuticals' revenue last quarter?
In its most recent reported quarter (2026 Q2), X4 Pharmaceuticals reported revenue of $2.4M.
How much debt does X4 Pharmaceuticals have?
X4 Pharmaceuticals reported $75.0M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of X4 Pharmaceuticals are outstanding?
X4 Pharmaceuticals reported a weighted average of 126.3 million basic shares outstanding in 2026 Q2.
What is X4 Pharmaceuticals' market cap?
Based on its latest closing price, X4 Pharmaceuticals (XFOR) has a market capitalization of about $328.5M.
When does X4 Pharmaceuticals' fiscal year end?
X4 Pharmaceuticals' fiscal year end, as registered with the SEC, is December 31.
Where is X4 Pharmaceuticals headquartered?
X4 Pharmaceuticals lists its business address in Boston, Massachusetts in its SEC filings.
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