CRISPR Therapeutics (CRSP) reported a smaller-than-expected loss for the quarter ended June 30, 2026: diluted EPS of -0.94 against an analyst estimate of -1.19, on revenue of $10.2M. The company is still deeply unprofitable, but it holds $2.36B in cash and short-term investments, which is why gene editing's long timelines are a theme to watch rather than a verdict.
Key facts
- Aug. 3, 2026: CRSP reported Q2 FY2026 (ended June 30, 2026) diluted EPS of -0.94 versus an estimate of -1.19, a difference of +$0.25 (21.0%).
- Q2 FY2026 revenue: $10.2M versus an estimate of $7.4M, a difference of +$2.7M (36.7%). Revenue in the year-ago quarter was $892,000.
- Q2 FY2026 net loss: $91.2M, against $208.5M in the year-ago quarter. FMP puts the net income change versus the year-ago quarter at 56.3%, meaning the loss narrowed.
- June 30, 2026 balance sheet: cash and short-term investments of $2.36B, total debt of $783.7M, net debt of $492.4M.
- Oct. 23, 2026: the shares closed at $49.39, down 1.20% on the day. The 52-week range is $44.12 to $67.73.
- Next earnings date: Nov. 9, 2026, with an EPS estimate of -1.04 and a revenue estimate of $14.8M.
What happened
The theme in brief. Gene editing companies try to treat disease by changing DNA directly. Most have no meaningful product sales for years, so they live on cash raised from investors and on payments from partners. For that reason, the useful questions are how fast a company burns cash, how long its cash lasts, and whether partner payments are growing.
The quarter. CRSP's revenue was $10.2M in the quarter ended June 30, 2026, versus $892,000 a year earlier. FMP's figures put the change at 1041.4%, from a very small base. The segment data shows where it came from. Collaboration revenue (money from partnership agreements) was $10.0M. Grant revenue was $181,000. A year earlier, all revenue was grant revenue of $892,000. So the jump came from partnership income, not from a new product line.
The company's release and a management call digest were not available to us for this piece. We therefore can't quote management on what drove the collaboration revenue or on guidance. Check the company's quarterly filing for its explanation.
The five-quarter trend. Revenue stayed under $1.5M for the first four of the last five quarters, then rose to $10.2M. Margins show the same shift:
| Quarter ended | Revenue | Operating margin | Net income | |---|---|---|---| | June 30, 2025 | $892,000 | -14918.3% | $-208.5M | | Sept. 30, 2025 | $889,000 | -14854.8% | $-106.4M | | Dec. 31, 2025 | $864,000 | -17912.5% | $-130.6M | | March 31, 2026 | $1.5M | -8933.3% | $-122.9M | | June 30, 2026 | $10.2M | -1127.6% | $-91.2M |
An operating margin of -1127.6% means the company spent far more than it earned. That is still a deep loss, but it is much narrower than in earlier quarters.
Cash flow also improved. Free cash flow (cash from operations minus capital spending) was $-86.6M in the June 2026 quarter, compared with $-109.4M in the March 2026 quarter and $-114.0M a year earlier. The company paid no dividends and made no buybacks in any of those quarters.
Why it matters for investors
Cash gives time. Cash and short-term investments of $2.36B compare with total debt of $783.7M, leaving net debt of $492.4M by FMP's calculation. Shareholders' equity was $1.75B, and debt-to-equity is 0.45. For a company burning roughly $86.6M of free cash flow in a quarter, that cushion is the main reason the story can run for years. FMP's Altman Z score (a bankruptcy-risk gauge) is 2.46, and its Piotroski score (a 0-9 financial health check) is 3, which is on the weak side.
Valuation is hard to read. Trailing-12-month price/sales is 356.60 and the net margin is -3368.7%, because sales are tiny. P/E is -10.38. A negative P/E just means losses, so it can't be compared the usual way. FMP's discounted cash flow model, which values a company on projected future cash, returns -0.57 USD per share. That mostly reflects the lack of current profits.
Peers. Among gene-editing and related names listed by FMP:
| Company | Market cap | P/E | Net margin | |---|---|---|---| | CRSP | $4.78B | -10.38 | -3368.7% | | Beam Therapeutics (BEAM) | $2.48B | -29.33 | -54.7% | | Ginkgo Bioworks (DNA) | $672.7M | -1.99 | -260.0% | | Precision BioSciences (DTIL) | $183.3M | -2.38 | -117.0% | | Editas Medicine (EDIT) | $368.6M | -3.21 | -157.3% |
CRSP has the largest market value in this group and the widest net loss relative to revenue. Investors are paying for what it might earn later, not for what it earns now.
Analysts. Of 38 ratings, 22 are buy, 14 are hold and 2 are sell, for a consensus of "Buy". Analysts' price targets average 63.17 USD, with a median of 58.00 USD, a high of 80.00 USD and a low of 52.00 USD. The shares at $49.39 are below the lowest target. These are analysts' views, not ours. Analysts expect revenue of $19.0M for the period ending March 30, 2027 and $21.8M for the period ending June 30, 2027, with EPS estimates of -0.89 and -0.85 from 5 analysts. The ranges around those revenue estimates are very wide, which shows how uncertain partner income is.
Our MoonshotScore. Stock Expert AI's MoonshotScore V2 for CRSP is 22.3, rated Weak. Its sector-relative pillars are growth 11, momentum 66, quality 16, safety 56 and valuation 44. Momentum and safety are the stronger areas, the latter likely helped by the cash balance. Growth and quality are weak, in line with the losses and lumpy revenue.
What could go wrong.
- Collaboration revenue can be uneven. One strong quarter doesn't set a trend, and the next estimate is for revenue of $14.8M.
- Losses continue, and the company could need more funding if clinical or commercial progress stalls.
- The 2026-10-24 headline from Motley Fool suggested that heart-disease data could matter more than the approved sickle-cell therapy Casgevy. We cite that only as a view of where attention is going. Early-stage data can disappoint, and we have no figures from it.
- Among the 30 most recent insider filings, those dated in the last 90 days show 0 open-market purchases and 4 sales. Insider sales can have many causes, but there were no insider buys in that window.
What to watch next
- Nov. 9, 2026 earnings: whether revenue reaches the $14.8M estimate and whether the loss stays near the -1.04 EPS estimate.
- Cash burn: whether free cash flow stays near or better than the June 2026 quarter's $-86.6M.
- Source of revenue: whether collaboration revenue repeats or was a one-time event.
- Clinical updates: any new heart-disease data and how the company describes next steps.
- Price levels: the shares' position against the 52-week low of $44.12.
Frequently asked questions
Q: Did CRISPR Therapeutics beat earnings estimates in the latest quarter?
Yes. For the quarter ended June 30, 2026, reported Aug. 3, 2026, diluted EPS was -0.94 versus an analyst estimate of -1.19. Revenue was $10.2M versus an estimate of $7.4M. The company still lost money, with a net loss of $91.2M.
Q: Is CRISPR Therapeutics profitable, and does it have enough cash?
No, it is not profitable. Trailing-12-month net margin is -3368.7%. As of June 30, 2026, it held $2.36B in cash and short-term investments against $783.7M in total debt. Free cash flow was $-86.6M in the latest quarter. How long the cash lasts depends on future spending and funding, which we can't predict.
Q: What do analysts think CRSP is worth?
Analysts' consensus rating is "Buy", with 22 buys, 14 holds and 2 sells. Their price targets average 63.17 USD, ranging from 52.00 USD to 80.00 USD. The shares closed at $49.39 on Oct. 23, 2026. Stock Expert AI's own MoonshotScore is 22.3 (Weak). This is information, not a recommendation.
This is educational content, not investment advice. Past performance does not guarantee future results.