Financial Performance - For the third quarter of 2025, Alumis reported total revenue of $2.1 million, compared to $0 for the same quarter in 2024[13]. - The net loss for Q3 2025 was $110.8 million, compared to a net loss of $93.1 million in Q3 2024[6][13]. - Alumis reported a revenue increase of 15% year-over-year, reaching $250 million in Q3 2023[15]. - The company provided guidance for Q4 2023, expecting revenue between $260 million and $270 million, indicating a potential growth of 4% to 8%[15]. - New product launch scheduled for Q1 2024, anticipated to contribute an additional $30 million in revenue[15]. - The company plans to enter the Asian market by mid-2024, targeting a revenue contribution of $50 million in the first year[15]. Research and Development - Research and development expenses increased to $97.8 million in Q3 2025, up from $87.8 million in Q3 2024, driven by higher clinical trial costs and severance expenses related to the merger with ACELYRIN[6][13]. - A-005, a novel TYK2 inhibitor, is expected to enter a Phase 2 clinical trial in multiple sclerosis in the first half of 2026[7][3]. - The company anticipates topline Phase 3 ONWARD data for envudeucitinib in moderate-to-severe plaque psoriasis to be announced in early Q1 2026[2][3]. - The company expects to establish a once-daily formulation for envudeucitinib in 2025[7][3]. - Investment in R&D increased by 25%, totaling $15 million, to enhance product offerings and technology[15]. Expenses and Costs - General and administrative expenses rose to $19.5 million in Q3 2025, compared to $10.6 million in Q3 2024, primarily due to severance costs and increased personnel-related expenses[6][13]. - Alumis recognized merger-related expenses of $6.3 million for Q3 2025, which included stock-based compensation expenses[8][6]. Market and User Growth - User base expanded to 1.5 million active users, representing a growth of 20% compared to the previous quarter[15]. - Market expansion efforts in Europe resulted in a 10% increase in market share[15]. - Customer retention rate improved to 85%, up from 80% in the previous quarter[15]. Operational Metrics - Operating margin improved to 18%, a 2% increase from the previous year[15]. - Collaboration revenue for Q3 2025 included $2.1 million from a licensing agreement with Kaken Pharmaceutical Co., Ltd.[6][13]. - As of September 30, 2025, Alumis had cash, cash equivalents, and marketable securities totaling $377.7 million, expected to support operations into 2027[9][6]. - Strategic acquisition of a tech startup completed, expected to enhance service capabilities and add $5 million in annual revenue[15].
Alumis Inc.(ALMS) - 2025 Q3 - Quarterly Results