EDITHIGH SIGNALFINANCIAL10-K

EDIT shows dramatic financial deterioration with stockholders' equity collapsing 80% to just $27.3M while shifting strategic focus to lead candidate EDIT-401 amid massive R&D cuts.

The company appears to be in severe financial distress, with stockholders' equity falling from $134.3M to only $27.3M, suggesting the company is burning through cash at an unsustainable rate. Despite revenue more than doubling, the company remains deeply unprofitable and has slashed R&D spending by 55% and capital expenditures by 93%, indicating potential constraints on future development capabilities.

Comparing 2026-03-09 vs 2025-03-05View on EDGAR →
FINANCIAL ANALYSIS

While revenue surged 133% to $31.9M, the company's financial position deteriorated dramatically with total assets declining 45% and stockholders' equity collapsing 80% to just $27.3M. The massive 55% reduction in R&D expenses and 93% cut in capital expenditures, combined with the severe erosion of the balance sheet, suggests the company is in cost-cutting mode due to cash constraints. Despite reducing operating losses by 36%, the overall financial picture signals potential liquidity concerns and questions about the company's ability to fund operations without additional capital.

FINANCIAL STATEMENT CHANGES
Revenue
P&L
+132.6%
$13.7M→$31.9M

Strong top-line growth of 132.6% — accelerating demand or successful expansion into new markets.

Capital Expenditure
Cash Flow
-93.1%
$8.8M→$607K

Capex reduced 93.1% — investment cycle winding down or capital discipline; may improve near-term free cash flow.

Stockholders Equity
Balance Sheet
-79.7%
$134.3M→$27.3M

Equity declined sharply — large losses, buybacks, or write-downs reducing book value significantly.

R&D Expense
P&L
-54.9%
$199.2M→$90.0M

R&D spending cut 54.9% — could signal cost discipline or concerning reduction in innovation investment.

Total Assets
Balance Sheet
-45.4%
$341.6M→$186.5M

Total assets contracted 45.4% — asset sales, write-downs, or balance sheet optimization underway.

Current Assets
Balance Sheet
-43.4%
$289.3M→$163.9M

Current assets declined 43.4% — monitor working capital adequacy and short-term liquidity.

Current Liabilities
Balance Sheet
-40.1%
$77.2M→$46.2M

Current liabilities reduced — improved short-term financial position and working capital health.

Operating Income
P&L
+36.3%
-$251.2M→-$160.0M

Operating leverage kicking in — revenue growth outpacing cost growth, a hallmark of scaling businesses.

Net Income
P&L
+32.5%
-$237.1M→-$160.1M

Net income grew 32.5% — bottom-line growth signals improving overall business health.

Total Liabilities
Balance Sheet
-23.2%
$207.3M→$159.2M

Liabilities reduced 23.2% — deleveraging improves balance sheet strength and financial flexibility.

LANGUAGE CHANGES
NEW — 2026-03-09
PRIOR — 2025-03-05
ADDED
Form 10-K Summary 161 SIGNATURES 162 2 Table of Co ntents References to Editas Throughout this Annual Report on Form 10-K, the Company, Editas, Editas Medicine, we, us, and our, except where the context requires otherwise, refer to Editas Medicine, Inc.
3 Table of Co ntents Risk Factor Summary We are dependent on the success of our lead product candidate, EDIT-401, which is in preclinical development.
If we are unable to commence and complete the clinical development of, obtain marketing approval for, or successfully commercialize EDIT-401, either alone or with a collaborator, or if we experience significant delays in doing so, our business would be substantially harmed.
The gene editing field is relatively new and is evolving rapidly.
We are focusing our research and development efforts on CRISPR gene editing technology using Cas9 and Cas12a enzymes, but other gene editing technologies may be discovered that provide significant advantages over CRISPR/Cas9 or CRISPR/Cas12a, which could materially harm our business.
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REMOVED
We intend to identify and develop product candidates based on a relatively novel genome editing technology, which makes it difficult to predict the time and cost of product candidate development.
The genome editing field is relatively new and is evolving rapidly.
We are focusing our research and development efforts on CRISPR gene editing technology using Cas9 and Cas12a enzymes, but other genome editing technologies may be discovered that provide significant advantages over CRISPR/Cas9 or CRISPR/Cas12a.
Preclinical testing and clinical trials of product candidates may not be successful.
We have not extensively tested any of our proposed delivery modes in clinical trials and have not begun clinical trials in any of our current development programs.
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