RLAY - Relay Therapeutics, Inc.
Price:
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--
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CONSENSUS:
Buy
DETAILS
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PRICE TARGET:
$23.00
DETAILS
HIGH:
$27.00
LOW:
$18.00
MEDIAN:
$22.00
CONSENSUS:
$23.00
UPSIDE:
69.99%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||
| Revenue | 15.4 | 10.0 | 25.5 | 1.4 | 3.0 | 82.7 | 0 | 0 |
| Cost of Revenue | 3.6 | 0 | 0 | 0 | 0 | 3.5 | 2.8 | 2.2 |
| Gross Profit | 11.8 | 10.0 | 25.5 | 1.4 | 3.0 | 79.1 | (2.8) | (2.2) |
| Operating Expenses | ||||||||
| R&D Expenses | 261.4 | 319.1 | 330.0 | 246.4 | 172.7 | 99.9 | 70.3 | 41.0 |
| SG&A Expenses | 56.7 | 76.6 | 75.0 | 66.0 | 57.4 | 38.6 | 13.7 | 8.9 |
| Other Expenses | (3.6) | (13.2) | (6.4) | (11.7) | 137.7 | (3.5) | 0 | (0.0) |
| Operating Expenses | 314.5 | 382.5 | 398.5 | 300.7 | 367.7 | 134.9 | 84.0 | 49.9 |
| Operating Income | ||||||||
| Operating Income | (302.7) | (372.5) | (373) | (299.3) | (364.7) | (55.8) | (84.0) | (49.9) |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 27.0 | 34.7 | 31.0 | 8.8 | 0.8 | 3.4 | 8.8 | 1.1 |
| Profitability | ||||||||
| EBITDA | (272.9) | (380.2) | (374.2) | (306.8) | (223.1) | (52.2) | (81.2) | (47.7) |
| EBIT | (276.5) | (385.7) | (379.4) | (311.0) | (227.0) | (55.8) | (84.0) | (48.8) |
| Income Before Tax | (276.5) | (337.7) | (342.0) | (290.5) | (363.9) | (52.4) | (75.3) | (48.8) |
| Income Tax Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Income | (276.5) | (337.7) | (342.0) | (290.5) | (363.9) | (52.4) | (66.5) | (48.8) |
| Per Share Data | ||||||||
| EPS (Basic) | -1.61 | -2.36 | -2.79 | -2.59 | -3.82 | -2.56 | -15.53 | -19.63 |
| EPS (Diluted) | -1.61 | -2.36 | -2.79 | -2.59 | -3.82 | -2.56 | -15.53 | -19.63 |
| Shares Outstanding | 171.6 | 142.9 | 122.6 | 112.2 | 95.1 | 90.1 | 4.3 | 2.5 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||
| Cash & Cash Equivalents | 84.0 | 124.3 | 143.7 | 998.9 | 280.1 | 447.6 | 42.0 | 421.5 |
| Short-Term Investments | 470.5 | 657.0 | 606.4 | 0 | 678.0 | 230.4 | 313.9 | 0 |
| Net Receivables | 0 | 0 | 0 | 5.2 | 4.9 | 82.7 | 0 | 0 |
| Inventory | 0 | 0 | 0 | 12.1 | 0 | 0 | 0 | 0 |
| Other Current Assets | 23.8 | 10.5 | 3.3 | 3.3 | 1.8 | 0 | 0 | 0 |
| Total Current Assets | 578.3 | 809.2 | 770.1 | 1,019.5 | 976.2 | 770.1 | 360.5 | 424.1 |
| Non-Current Assets | ||||||||
| Property, Plant & Equipment | 41.7 | 57.7 | 68.9 | 75.4 | 27.3 | 28.8 | 31.7 | 3.6 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 2.3 | 2.3 | 2.3 | 2.3 | 0 | 0 | 0 |
| Long-Term Investments | 1.3 | 0 | 2.7 | 2.6 | 0 | 0 | 0 | 0.9 |
| Other Non-Current Assets | 0 | 2.1 | 0 | 2.6 | 2.6 | 0.9 | 0.9 | 0 |
| Total Non-Current Assets | 43.1 | 62.1 | 73.9 | 80.3 | 32.2 | 29.7 | 32.5 | 4.5 |
| Total Assets | 621.3 | 871.3 | 844.0 | 1,099.8 | 1,008.4 | 799.8 | 393.1 | 428.6 |
| Current Liabilities | ||||||||
| Account Payables | 7.7 | 14.1 | 9.2 | 10.6 | 8.3 | 6.4 | 7.0 | 4.7 |
| Short-Term Debt | 3.8 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 0 | 7.7 | 0 | 0 | 0.2 | 0 | 0 | 1.9 |
| Other Current Liabilities | 14.1 | 2.1 | 1.9 | 26.2 | 1.0 | 0.2 | 0.3 | 0.1 |
| Total Current Liabilities | 25.6 | 50.7 | 30.3 | 63.7 | 24.3 | 13.6 | 12.0 | 6.9 |
| Non-Current Liabilities | ||||||||
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 13.2 | 32.4 | 65.3 | 0.0 | 537.9 | 532.7 |
| Total Non-Current Liabilities | 28.7 | 42.8 | 61.7 | 85.8 | 86.3 | 22.9 | 561.5 | 532.7 |
| Total Liabilities | 54.3 | 93.5 | 92.0 | 149.6 | 110.6 | 36.5 | 573.5 | 539.5 |
| Stockholders' Equity | ||||||||
| Common Stock | 0.2 | 0.2 | 0.1 | 0.1 | 0.1 | 0.1 | 0.0 | 0.0 |
| Retained Earnings | (2,014.8) | (1,738.3) | (1,400.6) | (1,058.6) | (768.1) | (404.2) | (189.5) | (114.2) |
| Accumulated Other Comprehensive Income | 0.7 | (1.0) | (0.2) | (10.4) | (1.1) | 0.1 | 0.3 | (4.6) |
| Total Stockholders' Equity | 567.1 | 777.8 | 752.0 | 950.2 | 897.8 | 763.3 | (180.4) | (110.9) |
| Total Liabilities & Equity | 621.3 | 871.3 | 844.0 | 1,099.8 | 1,008.4 | 799.8 | 393.1 | 428.6 |
| Debt Metrics | ||||||||
| Total Debt | 32.5 | 48.5 | 53.5 | 57.7 | 22.9 | 24.4 | 24.8 | 0.2 |
| Net Debt | (51.6) | (75.8) | (90.3) | (941.2) | (257.2) | (423.2) | (17.1) | (421.3) |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | (276.5) | (337.7) | (342.0) | (290.5) | (363.9) | (52.4) | (75.3) | (48.8) |
| Depreciation & Amortization | (1.4) | 5.5 | 5.3 | 4.1 | 3.9 | 3.5 | 2.8 | 2.2 |
| Stock-Based Compensation | 62.4 | 94.1 | 86.0 | 56.1 | 48.5 | 32.0 | 4.5 | 2.9 |
| Change in Working Capital | (23.3) | 14.6 | (32.5) | 11.2 | 97.3 | (85.2) | 4.3 | (0.4) |
| Other Non-Cash Items | 3.3 | (25.6) | (17.2) | (10.5) | 139.7 | (0.4) | (2.4) | 0.0 |
| Operating Cash Flow | (235.5) | (249.1) | (300.3) | (229.5) | (74.4) | (102.5) | (66.1) | (44.1) |
| Investing Activities | ||||||||
| Capital Expenditure | (0.4) | (2.0) | (4.1) | (9.1) | (3.5) | (1.9) | (8.0) | (1.7) |
| Acquisitions | 0 | 0 | 0 | 179.7 | (25.3) | (83.6) | 0 | 0.0 |
| Purchases of Investments | (123.0) | (650.6) | (385.5) | (535.4) | (980.7) | (266.5) | (553.5) | 0 |
| Sales/Maturities of Investments | 316.2 | 611.6 | 647.3 | 355.7 | 529.9 | 350.1 | 242.5 | 0 |
| Other Investing Activities | 0 | 0 | 0 | (179.7) | 0 | 83.6 | 0.0 | 0.0 |
| Investing Cash Flow | 192.8 | (41.1) | 257.6 | (188.7) | (479.5) | 81.7 | (319.0) | (1.7) |
| Financing Activities | ||||||||
| Net Debt Issuance | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (0.1) |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | 0 | 4.3 | 4.5 | 5.2 | 5.9 | 1.2 | 0.6 | 0.7 |
| Financing Cash Flow | 1.6 | 270.2 | 34.8 | 289.9 | 388.1 | 426.5 | 5.6 | 395.0 |
| Cash Position | ||||||||
| Net Change in Cash | (41.1) | (20.0) | (7.9) | (128.3) | (165.8) | 405.7 | (379.6) | 349.2 |
| Cash at Beginning | 126.4 | 146.4 | 154.4 | 282.7 | 448.5 | 42.8 | 422.4 | 73.2 |
| Cash at End | 85.4 | 126.4 | 146.4 | 154.4 | 282.7 | 448.5 | 42.8 | 422.4 |
| Free Cash Flow | (235.9) | (251.1) | (304.4) | (238.6) | (77.9) | (104.4) | (74.1) | (45.8) |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | 15.4 | 10.0 | 25.5 | 1.4 | 3.0 | 82.7 | 0 | 0 |
| Gross Profit | 11.8 | 10.0 | 25.5 | 1.4 | 3.0 | 79.1 | (2.8) | (2.2) |
| Operating Income | (302.7) | (372.5) | (373) | (299.3) | (364.7) | (55.8) | (84.0) | (49.9) |
| Net Income | (276.5) | (337.7) | (342.0) | (290.5) | (363.9) | (52.4) | (66.5) | (48.8) |
| EPS (Diluted) | -1.61 | -2.36 | -2.79 | -2.59 | -3.82 | -2.56 | -15.53 | -19.63 |
| Balance Sheet | ||||||||
| Cash & Equivalents | 84.0 | 124.3 | 143.7 | 998.9 | 280.1 | 447.6 | 42.0 | 421.5 |
| Total Assets | 621.3 | 871.3 | 844.0 | 1,099.8 | 1,008.4 | 799.8 | 393.1 | 428.6 |
| Total Debt | 32.5 | 48.5 | 53.5 | 57.7 | 22.9 | 24.4 | 24.8 | 0.2 |
| Stockholders' Equity | 567.1 | 777.8 | 752.0 | 950.2 | 897.8 | 763.3 | (180.4) | (110.9) |
| Cash Flow | ||||||||
| Operating Cash Flow | (235.5) | (249.1) | (300.3) | (229.5) | (74.4) | (102.5) | (66.1) | (44.1) |
| Capital Expenditure | (0.4) | (2.0) | (4.1) | (9.1) | (3.5) | (1.9) | (8.0) | (1.7) |
| Free Cash Flow | (235.9) | (251.1) | (304.4) | (238.6) | (77.9) | (104.4) | (74.1) | (45.8) |