NASDAQ$KROS
Keros Therapeutics Inc · Q1 2026 earnings
Q1 2026 earnings · · Investor relations
Briefing
Keros Therapeutics reported Q1 2026 total revenue of $367K and a net loss of $23.7M as R&D spending resumed.
For the three months ended March 31, 2026, Keros reported total revenue of $367 thousand versus $211.2 million in Q1 2025 when a large license payment inflated the prior period. The company had a net loss of $23.7 million ($1.21 basic and diluted loss per share) compared with net income of $148.5 million a year ago. Research and development expense was $16.1 million as clinical programs advanced; the company remains pre-commercial with no product sales.
- Total revenue $0.4M vs $211.2M prior year on absence of large prior license revenue.
- Net loss $23.7M; R&D expense $16.1M vs $48.7M prior quarter (prior year included one-time items).
- No product sales; cash runway depends on capital raises per going-concern disclosure.
- Loss per share $1.21 basic and diluted on higher share count.
- Management continues development of protein therapeutics for hematology indications.
Headline financials
Revenue & EPS history
Keros · Revenue · Quarterly
$32K
Forward guidance
Pre-revenue biotech; no EPS or revenue guidance. MD&A focuses on clinical trial timelines, financing needs, and regulatory milestones.
Tailwinds
- Prior-year balance sheet benefited from significant license inflows.
- R&D spend reflects active pipeline progression.
Headwinds
- Ongoing net losses until product approval and launch.
- Revenue highly volatile quarter to quarter on collaboration timing.
- Macro and rate environment may affect future financing costs.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2026
+0.4%
Avg return
Earnings day
+0.1%
Avg return
5 days after
+5.0%
Avg return
30 days after
42%
10 / 24 earnings
Positive
+34.0%
Q3 2021
Best reaction
-15.0%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -8.5% | -17.4% | -15.4% | |
| Q4 2025 | -15.0% | -15.9% | -12.9% | |
| Q3 2025 | +3.4% | +8.0% | +38.6% | |
| Q1 2025 | +0.7% | +0.1% | -3.3% | |
| Q4 2024 | +0.6% | +5.9% | -1.4% | |
| Q3 2024 | +7.3% | +8.9% | +11.9% | |
| Q2 2024 | -8.9% | -8.0% | +7.7% | |
| Q1 2024 | -1.8% | -8.0% | -17.0% | |
| Q4 2023 | -3.6% | -1.4% | -5.4% | |
| Q3 2023 | -0.3% | -7.4% | +4.8% | |
| Q2 2023 | -10.3% | -12.9% | -12.9% | |
| Q1 2023 | -2.6% | -2.3% | +8.6% | |
| Q4 2022 | -6.4% | -3.6% | -23.4% | |
| Q3 2022 | -2.0% | -9.2% | +3.2% | |
| Q2 2022 | +14.7% | +13.5% | +10.6% | |
| Q1 2022 | -12.5% | -15.5% | -36.5% | |
| Q4 2021 | +8.7% | -3.5% | +29.9% | |
| Q3 2021 | +34.0% | +43.0% | +30.3% | |
| Q2 2021 | +5.5% | +2.6% | -3.7% | |
| Q1 2021 | -2.4% | -6.9% | -13.5% | |
| Q4 2020 | +4.4% | +6.6% | +14.0% | |
| Q3 2020 | -0.9% | +8.1% | +41.4% | |
| Q2 2020 | +7.1% | +12.8% | +23.6% | |
| Q1 2020 | -2.0% | +4.0% | +41.0% | |
| Q4 2019 | — | — | — | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — |
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