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Alkermes cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$90.1M in Q3 2026 · $227M over twelve months

Operating cash flow$93.5M
Capital spending−$3.4M
Free cash flow+$90.1M
Cash / net income5.7×
Cash conversion cycle239 days

Analysis

In Q3 2026, Alkermes generated $93.5M of operating cash flow and spent $3.4M on capital projects, leaving free cash flow of $90.1M. That is $5.7M more than in Q3 2025 ($84.4M).

Over the twelve months to Sep 30, 2026, operating cash flow was $243M; the largest uses were other investing ($1.7B), taxes on employees’ shares ($25.5M), capital spending ($15.6M); besides operations, cash came from other financing ($1.5B), shares issued ($66.8M); the cash balance rose by $14.9M.

Operating cash flow was $93.5M against net income of $16.3M — 5.7× profit, cash ran ahead of reported earnings. The largest differences: payables −$38.2M, depreciation & amortization +$27.2M, stock-based pay +$26.7M.

Its cash conversion cycle was 239 days (receivables 88 + inventory 273 − payables 122).

Free cash flow

Alkermes: free cash flow by quarterAlkermes: free cash flow by quarter$181MQ4 2024$88.7MQ1 2025$137MQ2 2025$84.4MQ3 2025$170MQ4 2025−$170MQ1 2026$137MQ2 2026$90.1MQ3 2026
Operating cash flow less capital spending.
Alkermes: operating cash flow against capital spendingAlkermes: operating cash flow against capital spendingOperating cash flowCapital spending$190M$9.8MQ4 2024$98.8M$10.1MQ1 2025$150M$13.0MQ2 2025$102M$17.3MQ3 2025$170M−$20KQ4 2025−$166M$4.1MQ1 2026$145M$8.1MQ2 2026$93.5M$3.4MQ3 2026
Latest (Q3 2026): Operating cash flow $93.5M, Capital spending $3.4M.

Capital allocation, year by year

Alkermes: where the cash came from (up) and went (down), by fiscal yearAlkermes: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksFY2021: Operating cash flow $102MFY2021: Net borrowing $21.3MFY2021: Shares issued $25.3MFY2021: Asset sales $287KFY2021: Capital spending −$28.0M$149MFY2021FY2022: Operating cash flow $21.0MFY2022: Net borrowing −$3.0MFY2022: Shares issued $19.6MFY2022: Capital spending −$38.3M$40.7MFY2022FY2023: Operating cash flow $401MFY2023: Net borrowing −$3.0MFY2023: Shares issued $16.8MFY2023: Asset sales $354KFY2023: Capital spending −$48.0M$418MFY2023FY2024: Operating cash flow $439MFY2024: Net borrowing −$2.2MFY2024: Shares issued $27.6MFY2024: Asset sales $98.4MFY2024: Capital spending −$33.5MFY2024: Buybacks −$200M$565MFY2024FY2025: Operating cash flow $521MFY2025: Shares issued $43.4MFY2025: Asset sales $2.8MFY2025: Capital spending −$40.4M$567MFY2025
Over these 5 years operating cash flow totalled $1.5B; the largest uses were buybacks ($200M) and capital spending ($188M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$755M
Debt$1.5B
Net debt$756M
Due within a year$26.5M

Alkermes funds itself: free cash flow was $227M over the last twelve months, and $755M of cash and investments stands against $1.5B of debt ($26.5M due within a year, 28.5× covered by cash).

Where the cash came from and went

Alkermes: sources (+) and uses (−) of cash, Q3 2026Alkermes: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)−$120MOperating cash flow$93.5MOther investing$23.4MShares issued$13.6MNet borrowing (+) / repaid (−)−$6.6MCapital spending−$3.4MTaxes on employees’ shares−$673KAsset & business sales$5K
Alkermes: sources (+) and uses (−) of cash, TTM to Q3 2026Alkermes: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing−$1.7BOther financing$1.5BOperating cash flow$243MShares issued$66.8MTaxes on employees’ shares−$25.5MCapital spending−$15.6MCash drawn (+) / kept (−)−$14.9MAsset & business sales$1.1M

From profit to cash

Alkermes: net income to operating cash flow, Q3 2026Alkermes: net income to operating cash flow, Q3 2026Net income$16.3MDepreciation & amortization$27.2MStock-based pay$26.7MDeferred taxes$12KReceivables−$2.6MInventory$8.8MPayables−$38.2MContract assets$6.8MOther liabilities−$267KOperating cash flow$93.5M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202688273122239
Q2 202679295114260
Q1 202685390154321
Q4 202582386175293
Q3 202583341149275
Q2 202578345146277
Q1 202510333596342
Q4 20248027761296

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$93.5M−$3.4M——−$6.6M$13.6M−$120M$90.1M
Q2 2026$145M−$8.1M———$26.3M−$160M$137M
Q1 2026−$166M−$4.1M−$2.1B−$27.7M$1.5B$15.7M$768M−$170M
Q4 2025$170M$20K———$11.2M−$503M$170M
Q3 2025$102M−$17.3M———$622K−$95.2M$84.4M
Q2 2025$150M−$13.0M———$2.1M−$121M$137M
Q1 2025$98.8M−$10.1M———$29.5M−$109M$88.7M
Q4 2024$190M−$9.8M—−$1K—$8.2M$105M$181M

Alkermes: income statement and cash flow

Alkermes, Q3 2026: revenue $480M (+22% year over year), operating margin 7.5%. The chart follows the revenue to costs, profit and cash.

Alkermes: 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.