15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has declined 26.7% per year over the past 5 years.
Operating margin has contracted, at -2222.4% in the latest year.
Financial health
Total debt has grown faster than revenue (52.4% vs -26.7% per year).
The company is unprofitable and has less than a year of cash runway at its current free-cash-flow burn.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$7M
-$136M
0.0%
-2222.4%
-$112M
—
$47M
2024
$14M
-$186M
0.0%
-1542.6%
-$124M
—
$36M
2023
$64M
-$161M
0.0%
-299.9%
-$138M
—
$42M
2022
$96M
-$282M
0.0%
-320.2%
-$284M
—
$61M
2021
$56M
-$212M
0.0%
-388.6%
-$214M
—
$134M
2020
$31M
-$173M
0.0%
-407.5%
-$44M
—
$167M
2019
$11M
-$98M
0.0%
-943.1%
-$91M
—
$100M
2018
$5M
-$67M
0.0%
-1415.4%
-$41M
$18M
$191M
2017
$4M
-$43M
0.0%
-1025.9%
-$39M
$19M
$89M
2016
$4M
-$33M
0.0%
-726.1%
-$30M
$13M
$89M
2015
—
-$30M
—
—
—
$22M
$65M
2014
—
-$26M
—
—
—
$20M
$49M
2014
—
-$93M
—
—
—
—
$48M
2013
—
-$21M
—
—
—
$2M
$54M
2013
—
-$81M
—
—
—
$2M
$19M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Mar '26
$1M
-$31M
0.0%
-2540.4%
-$31M
—
$40M
Dec '25
$1M
-$32M
0.0%
-2536.2%
-$25M
—
$47M
Sep '25
$2M
-$32M
0.0%
-1995.1%
-$27M
—
$41M
Jun '25
$2M
-$34M
0.0%
-1938.5%
-$26M
—
$41M
Mar '25
$2M
-$38M
0.0%
-2534.1%
-$35M
—
$45M
Dec '24
$2M
-$52M
0.0%
-3319.8%
-$28M
—
$36M
Sep '24
$3M
-$48M
0.0%
-1703.9%
-$30M
—
$38M
Jun '24
$7M
-$38M
0.0%
-665.7%
-$32M
—
$37M
Mar '24
$2M
-$48M
0.0%
-2652.9%
-$33M
—
$121M
Dec '23
$2M
-$44M
0.0%
-2868.4%
-$37M
—
$42M
Sep '23
$2M
-$45M
0.0%
-2637.8%
-$39M
—
$33M
Jun '23
$933000
-$53M
0.0%
-6705.8%
-$31M
—
$47M
Mar '23
$59M
-$19M
0.0%
-48.5%
-$32M
—
$42M
Dec '22
$44M
-$56M
0.0%
-145.2%
-$82M
—
$61M
Sep '22
$15M
-$84M
0.0%
-576.7%
-$64M
—
$82M
Jun '22
$19M
-$76M
0.0%
-448.1%
-$63M
—
$55M
Mar '22
$18M
-$66M
0.0%
-404.4%
-$75M
—
$65M
Dec '21
$17M
-$69M
0.0%
-406.5%
-$89M
—
$134M
Sep '21
$14M
-$43M
0.0%
-384.0%
-$48M
—
$129M
Jun '21
$13M
-$55M
0.0%
-348.8%
-$46M
—
$77M
Valuation over time
How the market has priced FATE against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-sales ratio has risen from 6.9× (Mar '23) to 33.0× (Jun '26).
Price / sales (P/S)
P/S
Frequently asked questions
Is FATE growing its revenue and profit?
Over the past 5 years, FATE THERAPEUTICS INC's revenue has declined 26.7% per year. These are computed facts, not advice.
How much debt does FATE have?
As of FY2025, FATE THERAPEUTICS INC reported — of total debt against $47M of cash.
What is FATE's profit margin?
In FY2025, gross margin was —, operating margin -2222.4%, and net margin -2051.1%.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.