Short answer
Beam Therapeutics Inc. (BEAM) filed its fiscal 2025 10-K annual report with the SEC on Feb 24, 2026. It reported revenue of $140M (+120.0% year over year) and net income of −$80M.
- Top risk flagged: Cybersecurity risk oversight by Audit Committee with quarterly management updates and immediate alerts on significant incidents
FY2025 key financial metrics · XBRL
- Revenue
- $140M
- +120.0% YoY
- Net income
- −$80M
- +78.8% YoY
- Operating margin
- -274.6%
- +379.7 pp YoY
- EPS (diluted)
- −$0.81
- +82.3% YoY
- ROE
- -6.5%
- +44.9 pp YoY
- Operating cash flow
- −$345M
- +0.6% YoY
Source: XBRL data from the Beam Therapeutics Inc. (BEAM) FY2025 10-K on SEC EDGAR. USD.
Beam Therapeutics Inc. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Fully integrated precision genetic medicines platform based on proprietary base editing gene editing technology without DNA double-strand breaks
- New products/segments: Announced BEAM-304 for phenylketonuria (PKU) and advancing in vivo LNP liver-targeted base editors BEAM-302 (AATD) and BEAM-301 (GSDIa)
- Strategic shift: Prioritizing in vivo base editing delivery modalities for hematopoietic stem cells to expand sickle cell disease treatment beyond ex vivo autologous stem cell therapies
- Quantitative metric: Completed dosing manufacture for risto-cel (BEAM-101) in 31 patients with mean editing efficiency 67.4% at 6 months and 72.8% at 12 months
- Noteworthy fact: FDA alignment on accelerated approval pathway for BEAM-302 based on 12-month biomarker data, with planned enrollment of ~50 additional patients in pivotal expansion
Management Discussion & Analysis
- Revenue $139.7M in 2025 vs $63.5M in 2024 and $377.7M in 2023, primarily from license and collaboration agreements
- Net loss $80.0M in 2025 vs $376.7M loss in 2024 and $132.5M loss in 2023, accumulated deficit $1.6B at 2025 year-end
- Hematology segment (ristocel) showing clinical progress with high editing efficiency (67.4% at Month 6, 72.8% at Month 12) and upcoming BLA submission planned for year-end 2026
- $100M initial draw on $500M senior secured Credit Facility entered Feb 2026, interest rate SOFR +6.50%, no product sales revenue yet, capital raises expected for ongoing R&D
- Forward outlook: dose expansions and clinical updates in 2026 for hematology and genetic disease programs; key risks include capital needs, regulatory approvals, and execution of clinical development
Risk Factors
- Cybersecurity risk oversight by Audit Committee with quarterly management updates and immediate alerts on significant incidents
- Dependence on VP, IS with 25 years experience and CISSP and CISA certifications for cybersecurity program leadership
- Company-wide annual employee training on data protection and incident response covering phishing and social engineering
- Use of technology-based tools combined with employee programs to mitigate cybersecurity risks
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