Equity Profile

RLAY

Relay Therapeutics, Inc.

Health CareBiotechnology$2.9B

May5Tue

Post-Earnings Recap

ReportedQ1-2026After Close4:05 PM EDT

Relay Therapeutics Misses on EPS, Stock Down 0.69%

Metric	Actual	Expected	Surprise
EPS	$-0.41	$-0.35	-18.84%
Revenue	—	$4M	—

management commentary, guidance changes, and full analysis available with Pro.

Relay Therapeutics Misses on EPS, Stock Down 0.69%

Key Numbers

Metric	Actual	Expected	Surprise
EPS	$-0.41	$-0.35	-18.84%
Revenue	—	$4M	—

Management Commentary

Tone: Unknown

No transcript is on record for this earnings call, so the analysis is based solely on numerical results.

What It Means

Relay Therapeutics reported a larger-than-expected loss per share, which contributed to a slight decline in its stock price. The company did not provide revenue figures, and there was no guidance update, leaving investors uncertain about future performance. The stock reaction reflects concerns over the missed EPS target.

Company Snapshot

Relay Therapeutics, Inc. is a biotechnology company focused on developing innovative therapies for cancer and other serious diseases....

Key Metrics to Watch

EPS

Earnings per share is a key indicator of profitability and will show how well the company is managing its costs.

$-0.35

Revenue

Revenue figures will provide insight into the company's sales performance and market demand for its products.

$4M

Wall Street expectations, options signals, track record, and call prep available with Pro.

Original Pre-Earnings Preview

Context

Company Snapshot

Relay Therapeutics, Inc. is a biotechnology company focused on developing innovative therapies for cancer and other serious diseases. With a market cap of $3 billion, it operates in the health care sector, leveraging advanced technology to improve drug discovery and development.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

75%

Avg EPS Surprise

+7.26%

Avg Stock Reaction

+0.95%

Last Quarter Recap

In the last quarter, Relay Therapeutics reported an EPS of $-0.32, which was better than analysts' expectations of $-0.38, resulting in a positive surprise. However, the stock still declined by 0.65% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts expect Relay Therapeutics to report a loss but are looking for signs of improving revenue. The consensus EPS of $-0.35 suggests continued challenges in profitability.

Bull Case

If the company can exceed revenue expectations significantly, it may indicate strong demand for its products and a potential turnaround in profitability.

Bear Case

A larger-than-expected loss or disappointing revenue could raise concerns about the company's future growth prospects and lead to further stock declines.

Key Metrics to Watch

EPS

$-0.35

Earnings per share is a key indicator of profitability and will show how well the company is managing its costs.

Revenue

$4M

Revenue figures will provide insight into the company's sales performance and market demand for its products.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will the EPS come in better than the consensus estimate of $-0.35?

A beat on EPS could signal improved cost management and operational efficiency, which the market will closely scrutinize.

What revenue figure will be reported, and how does it compare to the expected $4M?

Revenue performance is crucial for understanding market demand for Relay's products and overall business health.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate Relay's potential for revenue growth due to its innovative drug development approach, which could yield unexpected results.

Supporting Evidence

The company has a history of beating EPS estimates, suggesting potential for positive surprises.

Options pricing indicates a significant expected move, reflecting investor uncertainty and potential for volatility.

The recent trend of positive surprises could indicate a shift in operational efficiency.

Key Risk

If the revenue comes in above $10M, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether Relay Therapeutics can turn around its financial performance amid ongoing losses.

Bull Confirmed If

A revenue figure significantly above $4M could confirm strong market demand and support a bullish outlook.

Bear Confirmed If

If EPS is worse than $-0.45, it would confirm concerns about ongoing financial struggles.

Pre-Earnings Positioning

Options Market

Implied Move

±41.25%

Historical Avg

±1.6%

Pricing rich

The options market is pricing in a significant potential move, indicating that investors expect volatility around the earnings announcement.

Options are pricing ±41.3% while RLAY has averaged ±1.6% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

1.3%

30d HV

88.8%

Calls (31K)P/C Ratio: 2.15Puts (66K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Health Care

n=30

Fade rate: 0 of 30 (0%)

This setup has occurred 30 times across Health Care in the last 2 years. The average absolute 1-day move is 4.1%, with a raw directional average of +1.7% (modestly positive historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Relay beats expectations, history suggests the stock could rise by around 2.13%, confirming a positive outlook.

In-Line / Cautious

If results are in line with expectations, the stock may see muted movement as investors await further guidance.

Miss

A miss on earnings could lead to a decline of around 0.31%, reinforcing bearish sentiment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on new drug candidates in the pipeline.
2Details on partnerships or collaborations that may drive future revenue.
3Insights into cost management strategies and operational efficiencies.
4Comments on market demand for existing products.
5Guidance on future quarters and any changes to long-term strategy.

See the full picture

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Company Snapshot

Relay Therapeutics, Inc. is a biotechnology company focused on developing innovative therapies for cancer and other serious diseases....

Key Metrics to Watch

EPS

Earnings per share is a key indicator of profitability and will show how well the company is managing its costs.

$-0.35

Revenue

Revenue figures will provide insight into the company's sales performance and market demand for its products.

$4M

Wall Street expectations, options signals, track record, and call prep available with Pro.

Original Pre-Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

75%

Avg EPS Surprise

+7.26%

Avg Stock Reaction

+0.95%

Last Quarter Recap

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts expect Relay Therapeutics to report a loss but are looking for signs of improving revenue. The consensus EPS of $-0.35 suggests continued challenges in profitability.

Bull Case

If the company can exceed revenue expectations significantly, it may indicate strong demand for its products and a potential turnaround in profitability.

Bear Case

A larger-than-expected loss or disappointing revenue could raise concerns about the company's future growth prospects and lead to further stock declines.

Key Metrics to Watch

EPS

$-0.35

Earnings per share is a key indicator of profitability and will show how well the company is managing its costs.

Revenue

$4M

Revenue figures will provide insight into the company's sales performance and market demand for its products.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will the EPS come in better than the consensus estimate of $-0.35?

A beat on EPS could signal improved cost management and operational efficiency, which the market will closely scrutinize.

What revenue figure will be reported, and how does it compare to the expected $4M?

Revenue performance is crucial for understanding market demand for Relay's products and overall business health.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate Relay's potential for revenue growth due to its innovative drug development approach, which could yield unexpected results.

Supporting Evidence

The company has a history of beating EPS estimates, suggesting potential for positive surprises.

Options pricing indicates a significant expected move, reflecting investor uncertainty and potential for volatility.

The recent trend of positive surprises could indicate a shift in operational efficiency.

Key Risk

If the revenue comes in above $10M, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether Relay Therapeutics can turn around its financial performance amid ongoing losses.

Bull Confirmed If

A revenue figure significantly above $4M could confirm strong market demand and support a bullish outlook.

Bear Confirmed If

If EPS is worse than $-0.45, it would confirm concerns about ongoing financial struggles.

Pre-Earnings Positioning

Options Market

Implied Move

±41.25%

Historical Avg

±1.6%

Pricing rich

The options market is pricing in a significant potential move, indicating that investors expect volatility around the earnings announcement.

Options are pricing ±41.3% while RLAY has averaged ±1.6% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

1.3%

30d HV

88.8%

Calls (31K)P/C Ratio: 2.15Puts (66K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Health Care

n=30

Fade rate: 0 of 30 (0%)

This setup has occurred 30 times across Health Care in the last 2 years. The average absolute 1-day move is 4.1%, with a raw directional average of +1.7% (modestly positive historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Relay beats expectations, history suggests the stock could rise by around 2.13%, confirming a positive outlook.

In-Line / Cautious

If results are in line with expectations, the stock may see muted movement as investors await further guidance.

Miss

A miss on earnings could lead to a decline of around 0.31%, reinforcing bearish sentiment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on new drug candidates in the pipeline.
2Details on partnerships or collaborations that may drive future revenue.
3Insights into cost management strategies and operational efficiencies.
4Comments on market demand for existing products.
5Guidance on future quarters and any changes to long-term strategy.