Viridian Therapeutics (VRDN) Q1 2026 Earnings Snapshot

Viridian Therapeutics (VRDN) has followed up its Q1 2026 update by showing investors a recent run of small reported revenues against sizeable losses, with Q4 2025 revenue at US$0.132 million, basic EPS at a loss of US$1.07 and net income loss of US$101.1 million setting the latest reference point. Over recent quarters the company has seen revenue move between US$0.072 million and US$70.57 million, while basic EPS has ranged from a loss of US$0.34 to US$1.07 and net income losses have sat between US$28.2 million and US$101.1 million. The new numbers therefore land against an already loss making backdrop, where the key question is how quickly margins can improve.

See our full analysis for Viridian Therapeutics.

With the latest figures on the table, the next step is to see how these results line up with the dominant narratives around Viridian's growth potential, risk profile and eventual path to profitability.

Losses stack up to US$281.9 million over the year

• Over the trailing 12 months, Viridian reported a total net income loss of about US$281.9 million, with quarterly losses ranging from US$28.2 million to US$101.1 million across 2025.
• Bears focus on these widening losses, with trailing 12 month losses growing about 20.7% per year over the past five years. This sits alongside forecasts that earnings could grow around 81.74% per year, which creates a clear tension between the scale of current losses and the pace of the expected earnings improvement.
  • On a per share basis, trailing 12 month basic EPS was around a US$3.32 loss in late 2025, consistent with the multi year loss trend that critics highlight.
  • Expectations that the company could reach profitability within three years rely on that forecast earnings growth to significantly narrow losses such as the US$101.1 million reported in Q4 2025.

Revenue swings from US$0.07 million to US$70.6 million

• Quarterly revenue over 2024 and 2025 moved in a very wide range, from about US$0.07 million in several quarters to US$70.57 million in Q3 2025, contributing to trailing 12 month revenue of roughly US$70.8 million by late 2025.
• The optimistic view leans on strong trailing 12 month revenue growth of about 46.6% per year and expected rapid earnings growth. However, the contrast between low revenue quarters near US$0.07 million and the single quarter at US$70.57 million means investors need to think carefully about how repeatable that larger revenue print really is.
  • Supporters point to the higher revenue in Q3 2025 as evidence of commercial progress, but the neighbouring quarters at US$0.075 million and US$0.132 million revenue show a very different scale.
  • Forecasts that revenue could grow at about 46.6% per year assume more consistent performance over time than the historical pattern of sharp swings in the reported figures.

To see how other investors are connecting these swings in growth, losses and valuation into a single story for Viridian, it is worth looking at the broader conversation around the stock. 📊 Read the what the Community is saying about Viridian Therapeutics.

Rich 27.3x P/S against DCF fair value of US$174.16

• Viridian trades on a P/S ratio of 27.3x, compared with 10.8x for the broader US biotech group and 11.4x for peers, while the provided DCF fair value of about US$174.16 sits far above the current share price of US$18.75.
• Supporters argue that high growth expectations help explain the rich 27.3x P/S, and they also point to the gap between the current price and the DCF fair value. This sits alongside risks flagged in the data such as high share price volatility in the last three months and shareholder dilution over the past year.
  • The stock trading roughly 89.2% below the DCF fair value suggests a very large difference between the modelled intrinsic value and the market price, which growth focused investors may find interesting.
  • The elevated P/S multiple relative to the 10.8x and 11.4x benchmarks and the recent volatility mean any change in views on growth or profitability could move the US$18.75 share price quickly.

Next Steps

Don't just look at this quarter; the real story is in the long-term trend. We've done an in-depth analysis on Viridian Therapeutics's growth and its valuation to see if today's price is a bargain. Add the company to your watchlist or portfolio now so you don't miss the next big move.

With a mixed picture on growth, losses and valuation, it can help to act quickly and compare the data with your own expectations using our breakdown of 2 key rewards and 2 important warning signs.

Explore Alternatives

Viridian is contending with sizeable net income losses, volatile revenue between US$0.07 million and US$70.57 million, and a rich 27.3x P/S that amplifies risk.

If that mix of steep losses and volatility feels uncomfortable, you can quickly focus on companies with steadier metrics by checking out 72 resilient stocks with low risk scores.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.