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HCW Biologics Inc. revenue

HCW Biologics Inc.'s revenue was $54,232 in fiscal 2025, down 97.9% on the year before. Since fiscal 2020 ($4.1m) it has grown at a compound -57.9% a year. Over the last twelve months it was $6.7m.

Revenue history

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Revenue4,10006,7222,8422,567546,664
Growth on the year before—−100.0%—−57.7%−9.7%−97.9%—
Gross profit—02,586560959116,447
Gross margin——38.5%19.7%37.4%20.0%96.7%

Revenue as reported in the company's 10-K and 10-Q filings (for banks, net interest income plus non-interest income). Growth is left blank when the earlier figure was zero or negative.

Revenue against peers

Biotechnology: the closest covered companies by revenue. Last twelve months.

CompanyRevenueGrowth3-year growth a year
HCW Biologics Inc. $6.7m 700.2% 20.4%
Fate Therapeutics Inc $6.5m -23.4% -62.1%
Tscan Therapeutics, Inc. $7.1m 2.2% -24.3%
CG Oncology, Inc. $6.2m 1030.3% —
Evaxion A/s $7.5m 125.1% —
Roivant Sciences Ltd. $7.5m -67.6% -46.4%

Compare with peers

Head to head: FATE vs HCWBHCWB vs TCRXCGON vs HCWB

More: Biotechnology stocks compared, Health Care sector, rankings of US companies

Figures from HCW Biologics Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to HCW Biologics Inc.