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Abeona Therapeutics cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$18.0M in Q2 2026 · −$81.5M over twelve months

Operating cash flow−$17.5M
Capital spending−$479K
Free cash flow−$18.0M
Cash conversion cycle116 days

Analysis

In Q2 2026, Abeona Therapeutics generated −$17.5M of operating cash flow and spent $479K on capital projects, leaving free cash flow of −$18.0M. That is $3.7M more than in Q2 2025 (−$21.7M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$76.4M; the largest uses were operating cash flow ($76.4M), other investing ($29.3M), capital spending ($5.1M); besides operations, cash came from other financing ($3.2M); the cash balance fell by $108M.

Operating cash flow was −$17.5M against net income of −$20.2M. The largest differences: stock-based pay +$3.4M, receivables −$3.2M, payables +$978K.

Its cash conversion cycle was 116 days (receivables 62 + inventory 130 − payables 77).

Free cash flow

Abeona Therapeutics: free cash flow by quarterAbeona Therapeutics: free cash flow by quarter−$12.6MQ3 2024−$17.2MQ4 2024−$19.8MQ1 2025−$21.7MQ2 2025−$23.7MQ3 2025−$19.1MQ4 2025−$20.7MQ1 2026−$18.0MQ2 2026
Operating cash flow less capital spending.
Abeona Therapeutics: operating cash flow against capital spendingAbeona Therapeutics: operating cash flow against capital spendingOperating cash flowCapital spending−$12.2M$404KQ3 2024−$16.6M$606KQ4 2024−$18.4M$1.4MQ1 2025−$18.8M$2.9MQ2 2025−$21.2M$2.5MQ3 2025−$18.0M$1.2MQ4 2025−$19.8M$935KQ1 2026−$17.5M$479KQ2 2026
Latest (Q2 2026): Operating cash flow −$17.5M, Capital spending $479K.

Capital allocation, year by year

Abeona Therapeutics: where the cash came from (up) and went (down), by fiscal yearAbeona Therapeutics: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingFY2021: Operating cash flow −$65.7MFY2021: Shares issued $8.9MFY2021: Capital spending −$4.2M$8.9MFY2021FY2022: Operating cash flow −$43.5MFY2022: Shares issued $35.3MFY2022: Asset sales $1.7MFY2022: Capital spending −$130K$37.0MFY2022FY2023: Operating cash flow −$37.0MFY2023: Shares issued $14.4MFY2023: Asset sales $204KFY2023: Capital spending −$331K$14.6MFY2023FY2024: Operating cash flow −$56.0MFY2024: Net borrowing $20.0MFY2024: Shares issued $15.5MFY2024: Asset sales $18KFY2024: Capital spending −$2.4M$35.5MFY2024FY2025: Operating cash flow −$76.3MFY2025: Shares issued $17.3MFY2025: Capital spending −$8.0M$17.3MFY2025
Over these 5 years operating cash flow totalled −$278M; the largest uses were operating cash flow ($278M) and capital spending ($15.0M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$147M
Debt$15.0M
Net cash$132M
Due within a year$5.9M
Cash runway22 months

Abeona Therapeutics is burning cash: its operations consume cash, a free cash flow of −$81.5M a year at the current rate against $147M of cash and investments: a runway of about 22 months; $5.9M of debt also comes due within a year, which the cash covers before any new financing.

Abeona Therapeutics: debt maturities by year (FY2024)Abeona Therapeutics: debt maturities by year (FY2024)$5.9MYear 1$8.9MYear 2$5.2MYear 3
Principal due in each year as disclosed in the annual report, against $147M of cash and investments now.

Where the cash came from and went

Abeona Therapeutics: sources (+) and uses (−) of cash, Q2 2026Abeona Therapeutics: sources (+) and uses (−) of cash, Q2 2026Operating cash flow−$17.5MOther investing$16.2MCash drawn (+) / kept (−)$5.1MNet borrowing (+) / repaid (−)−$3.3MCapital spending−$479KOther financing−$1K
Abeona Therapeutics: sources (+) and uses (−) of cash, TTM to Q2 2026Abeona Therapeutics: sources (+) and uses (−) of cash, TTM to Q2 2026Cash drawn (+) / kept (−)$108MOperating cash flow−$76.4MOther investing−$29.3MCapital spending−$5.1MOther financing$3.2M

From profit to cash

Abeona Therapeutics: net income to operating cash flow, Q2 2026Abeona Therapeutics: net income to operating cash flow, Q2 2026Net income−$20.2MDepreciation & amortization$665KStock-based pay$3.4MReceivables−$3.2MInventory$133KPayables$978KDeferred revenue$252KPrepaid and other assets$9KOperating cash flow−$17.5M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 20266213077116
Q1 20266419320057

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$17.5M−$479K−$3.3M—$5.1M−$18.0M
Q1 2026−$19.8M−$935K−$2.2M—$17.1M−$20.7M
Q4 2025−$18.0M−$1.2M——$4.8M−$19.1M
Q3 2025−$21.2M−$2.5M——$80.7M−$23.7M
Q2 2025−$18.8M−$2.9M—$10.5M−$148M−$21.7M
Q1 2025−$18.4M−$1.4M—$6.8M$7.4M−$19.8M
Q4 2024−$16.6M−$606K—$5.5M−$7.6M−$17.2M
Q3 2024−$12.2M−$404K——$18.7M−$12.6M

Abeona Therapeutics: income statement and cash flow

Abeona Therapeutics, Q2 2026: revenue $11.4M (28× year over year), operating margin -120.0%. The chart follows the revenue to costs, profit and cash.

Abeona Therapeutics: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.