Nautilus Biotechnology, Inc., a development stage life sciences company, engages in creating a platform technology for quantifying and unlocking the complexity of ...
Nautilus Biotechnology, Inc. (NASDAQ: NAUT) is a development-stage life sciences company founded in 2016 by Sujal Patel (CEO) and Parag Mallick (Chief Scientist). Headquartered in Seattle, Washington, with research operations in San Carlos, California, Nautilus was founded on the belief that incremental advancements in proteomics are inadequate; the company aims ...Nautilus Biotechnology, Inc. (NASDAQ: NAUT) is a development-stage life sciences company founded in 2016 by Sujal Patel (CEO) and Parag Mallick (Chief Scientist). Headquartered in Seattle, Washington, with research operations in San Carlos, California, Nautilus was founded on the belief that incremental advancements in proteomics are inadequate; the company aims to make a bold scientific leap to create a new gold standard in the field. The company went public in 2021 via a SPAC merger with ARYA Life Sciences Acquisition Corp. III.
Nautilus is developing the Nautilus Voyager Platform, an end-to-end solution that includes instruments, reagents, consumables, and software analysis. The platform leverages Iterative Mapping, a proprietary approach that uses high-resolution optical imaging, integrated fluidics, and liquid handling subsystems to deposit protein libraries onto a flow cell. Multi-affinity reagents bind to proteins, and repeated cycles of binding and imaging enable the decoding and quantification of proteins in biological samples. This allows for broad proteome coverage with exceptional sensitivity and throughput, aiming to overcome the limitations of existing mass spectrometry-based methods. The company offers related products such as single-molecule library preparation kits, flow cells, affinity reagents, and instrument run buffers.
As of the latest financial data, Nautilus is still in the development stage with negligible revenue. The company reported a market cap of approximately $114.5 million and a stock price of $0.90. Financial metrics indicate negative profitability, with net profit margin of -297.5%, and substantial investments in R&D (207.97% of revenue) and SG&A (128.73% of revenue). The company has no debt, maintains a strong cash position with cash ratio of 1.524, and has a current ratio of 10.143. With cash runway extended into 2027, Nautilus is focusing on advancing its platform and commercializing its products. The company has research collaborations with organizations such as Genentech, the Buck Institute, Allen Institute, Cornell University, and the Michael J. Fox Foundation.
Key personnel include Sujal Patel (Founder & CEO) and Parag Mallick (Founder & Chief Scientist). The company employs about 130 people and has undergone a 16% workforce reduction to extend its cash runway. Nautilus is positioned to transform proteomics, potentially impacting drug development and disease understanding, but still faces significant challenges in achieving commercial success.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$0
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Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-59.0M
+16.6%
+1.6%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
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Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
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Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
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Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-52.0M
+15.2%
-4.2%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
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Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
19.1%
+31.0%
+6.1%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
13.33x
-23.4%
-14.4%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator : Good day and thank you for standing by. Welcome to the Nautilus Biotechnology Second Quarter 2026 Earnings Call. [Operator Instructions] Please be advised today's conference is being recorded. I would now like to turn the conference over to your speaker today, Ji-Yon Yi with the Gilmartin Group. Please go ahead.
Ji-Yon Yi : Thank you. Earlier today, Nautilus released financial results for the quarter ended June 30, 2026. If you haven't received this news release or if you'd like to be added to the company's distribution list, please send an email to investorrelations@nautilus.bio. Joining me today from Nautilus are Sujal Patel, Co-Founder and CEO; Parag Mallick, Co-Founder and Chief Scientist and Anna Mowry, Chief Financial Officer. Before we begin, I'd like to remind you that management will make statements during this call that are forward-looking within the meaning of the federal securities laws. These statements involve material risks and uncertainties that could cause actual results or events to materially differ from those anticipated. Additional information regarding these risks and uncertainties appears in the section entitled Forward-Looking Statements in the press release Nautilus issued today. Except as required by law, Nautilus disclaims any intention or obligation to update or revise any financial or product pipeline projections or other forward-looking statements, whether because of new information, future events, or otherwise. This conference call contains time-sensitive information and is accurate only as of the live broadcast on July 28, 2026. With that, I'll turn the call over to Sujal.
Sujal Patel : Thanks, Ji-Yon, and thank you all for joining us today. We spent the last 9 years building what I believe is one of the most innovative platforms in life sciences. It produces a layer of biological insight that we believe does not exist anywhere else in the world today. This is the conclusion we're hearing from a growing number of scientists once they see our data, and it's the reason I'm confident about where this company is headed. We believe that a platform this capable has many possible applications. We've walked you through them on these calls over the past few years. This quarter, I want to focus on a deliberate strategic realignment of where we point the platform and on the reasoning behind it. Let me start with the decision itself. We're moving a significant share of our R&D resources from our broad-scale application to our proteoform application. We're doing it for 2 reasons that reinforce each other. The first is genuine momentum. The scientific community is telling us directly in conference halls and in our own sales conversations that proteoform resolution is a critical, differentiated layer of biological insight and one we believe we can uniquely put in customers' hands today. The second is that broad scale needs more time, and I'll come back to that in a moment. Let me say more about that first. Since …
