Equity Profile

RLAY

Relay Therapeutics, Inc.

Health CareBiotechnology$4.4B

Aug6Thu

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Relay Therapeutics, Inc. is a biotechnology company focused on transforming drug discovery through its innovative use of protein motion and machine learning....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

N/A

Revenue Growth

Revenue growth will indicate the company's ability to generate income from its drug development efforts, which is vital for its future.

N/A

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

RLAY Q2-2026 Earnings Preview

Context

Company Snapshot

Relay Therapeutics, Inc. is a biotechnology company focused on transforming drug discovery through its innovative use of protein motion and machine learning. Operating in the health care sector, its work is crucial as it aims to develop targeted therapies for various diseases, potentially impacting patient outcomes significantly.

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 Q1-2026, Relay Therapeutics reported an EPS of -$0.41, missing the estimate of -$0.34. The stock reacted negatively, declining by 0.69% the next day.

Management Promises & Guidance

Continue to advance clinical trials for lead drug candidates.
Focus on improving operational efficiencies.
Enhance partnerships to expand research capabilities.

Expectations

Wall Street Expectations

Overall expectations for Relay Therapeutics are mixed, given its recent performance and the lack of analyst estimates. Investors are looking for signs of improvement in profitability and revenue generation.

Bull Case

If the company can demonstrate progress in its clinical trials and report better-than-expected EPS, it may regain investor confidence and see a positive stock reaction.

Bear Case

Conversely, if the company fails to meet expectations again or provides disappointing updates on its drug pipeline, it could face further declines in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current status of the ongoing clinical trials?

Updates on clinical trials are crucial as they can directly impact the company's future revenue and market position.

How does the company plan to address its recent EPS misses?

Management's strategy to improve profitability will be key for investor confidence and stock performance.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for Relay's clinical trials to yield positive results, which could significantly boost future revenues.

Supporting Evidence

The company has a strong history of beating EPS estimates, with a 75% success rate in the last eight quarters.

Options pricing suggests a high degree of uncertainty, indicating that investors are bracing for significant news.

Recent insider activity has been absent, suggesting no major sell signals from executives.

Key Risk

If clinical trial results exceed expectations, it could shift the narrative and lead to a revaluation of the stock.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter, the focus will be on the balance between clinical progress and financial health, which are critical for the company's valuation.

Bull Confirmed If

A positive update on clinical trial results could lead to a significant stock rally.

Bear Confirmed If

Failure to provide a clear path to profitability or further EPS misses could drive the stock down.

Pre-Earnings Positioning

Options Market

Implied Move

±39.9%

Historical Avg

±1.6%

Pricing rich

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

Options are pricing ±39.9% while RLAY has averaged ±1.6% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.9%

30d HV

66.2%

Calls (72K)P/C Ratio: 7.96Puts (130K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Relay beats expectations, history suggests a potential stock increase of about 1.43%, confirming a positive outlook.

In-Line / Cautious

If results are in line with expectations, the stock may see muted movement as investors digest the news.

Miss

A miss could lead to a decline of around 0.50%, reflecting ongoing concerns about the company's performance.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Details on the progress of clinical trials for lead drug candidates.
2Any updates on partnerships or collaborations that could enhance research.
3Management's strategy to improve financial performance.
4Insights into operational efficiencies and cost management.
5Future guidance on revenue expectations.

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Company Snapshot

Relay Therapeutics, Inc. is a biotechnology company focused on transforming drug discovery through its innovative use of protein motion and machine learning....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

N/A

Revenue Growth

Revenue growth will indicate the company's ability to generate income from its drug development efforts, which is vital for its future.

N/A

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

RLAY Q2-2026 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

In Q1-2026, Relay Therapeutics reported an EPS of -$0.41, missing the estimate of -$0.34. The stock reacted negatively, declining by 0.69% the next day.

Management Promises & Guidance

Continue to advance clinical trials for lead drug candidates.
Focus on improving operational efficiencies.
Enhance partnerships to expand research capabilities.

Expectations

Wall Street Expectations

Bull Case

If the company can demonstrate progress in its clinical trials and report better-than-expected EPS, it may regain investor confidence and see a positive stock reaction.

Bear Case

Conversely, if the company fails to meet expectations again or provides disappointing updates on its drug pipeline, it could face further declines in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current status of the ongoing clinical trials?

Updates on clinical trials are crucial as they can directly impact the company's future revenue and market position.

How does the company plan to address its recent EPS misses?

Management's strategy to improve profitability will be key for investor confidence and stock performance.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for Relay's clinical trials to yield positive results, which could significantly boost future revenues.

Supporting Evidence

The company has a strong history of beating EPS estimates, with a 75% success rate in the last eight quarters.

Options pricing suggests a high degree of uncertainty, indicating that investors are bracing for significant news.

Recent insider activity has been absent, suggesting no major sell signals from executives.

Key Risk

If clinical trial results exceed expectations, it could shift the narrative and lead to a revaluation of the stock.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter, the focus will be on the balance between clinical progress and financial health, which are critical for the company's valuation.

Bull Confirmed If

A positive update on clinical trial results could lead to a significant stock rally.

Bear Confirmed If

Failure to provide a clear path to profitability or further EPS misses could drive the stock down.

Pre-Earnings Positioning

Options Market

Implied Move

±39.9%

Historical Avg

±1.6%

Pricing rich

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

Options are pricing ±39.9% while RLAY has averaged ±1.6% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.9%

30d HV

66.2%

Calls (72K)P/C Ratio: 7.96Puts (130K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Relay beats expectations, history suggests a potential stock increase of about 1.43%, confirming a positive outlook.

In-Line / Cautious

If results are in line with expectations, the stock may see muted movement as investors digest the news.

Miss

A miss could lead to a decline of around 0.50%, reflecting ongoing concerns about the company's performance.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Details on the progress of clinical trials for lead drug candidates.
2Any updates on partnerships or collaborations that could enhance research.
3Management's strategy to improve financial performance.
4Insights into operational efficiencies and cost management.
5Future guidance on revenue expectations.