X4 Pharmaceuticals, Inc
Financial highlights
| Metric | FY December 31, 2025 | FY December 31, 2024 | FY December 31, 2023 | FY December 31, 2022 | FY December 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $35.1M | $2.6M | $0 | $0 | $0 |
| Operating income | -$86.9M | -$36.4M | -$107.5M | -$87.6M | -$85.1M |
| Operating expenses | — | — | $107.5M | $87.6M | $85.1M |
| Cost of revenue | $5.8M | $797,000 | $0 | $0 | — |
| Cash from operations | -$85.6M | -$130.9M | -$96.5M | -$77.1M | -$70.9M |
| Capital expenditure | $0 | $326,000 | $60,000 | $103,000 | $615,000 |
| Free cash flow | -$85.6M | -$131.2M | -$96.6M | -$77.2M | -$71.5M |
| Share repurchases | — | — | $0 | $0 | $2.0M |
| Impairments | — | — | $0 | $0 | $9.8M |
| Total assets | $290.5M | $146.4M | $147.3M | $155.6M | $117.2M |
| Total liabilities | $104.2M | $124.3M | $96.2M | $81.5M | $52.8M |
Shares outstanding 94.3M · Free float 83.3%
Annual filing data through FY ended December 31, 2025; float as of June 27, 2026.