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Arvinas cash flow, quarter by quarter

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

Free cash flow−$10.2M in Q3 2026 · −$160M over twelve months

Operating cash flow−$10.4M
Capital spending$200K
Free cash flow−$10.2M

Analysis

In Q3 2026, Arvinas generated −$10.4M of operating cash flow and spent −$200K on capital projects, leaving free cash flow of −$10.2M. That is $49.0M more than in Q3 2025 (−$59.2M).

Over the twelve months to Sep 30, 2026, operating cash flow was −$158M; the largest uses were operating cash flow ($158M), buybacks ($74.1M), capital spending ($1.5M); besides operations, cash came from other investing ($220M), other financing ($800K); the cash balance fell by $13.0M.

Operating cash flow was −$10.4M against net income of −$53.9M. The largest differences: receivables +$48.5M, payables −$12.6M, stock-based pay +$5.9M.

Free cash flow

Arvinas: free cash flow by quarterArvinas: free cash flow by quarter−$84.4MQ4 2024−$89.3MQ1 2025−$96.6MQ2 2025−$59.2MQ3 2025−$30.6MQ4 2025−$70.5MQ1 2026−$48.5MQ2 2026−$10.2MQ3 2026
Operating cash flow less capital spending.
Arvinas: operating cash flow against capital spendingArvinas: operating cash flow against capital spendingOperating cash flowCapital spending−$84.1M$300KQ4 2024−$88.9M$400KQ1 2025−$95.4M$1.2MQ2 2025−$59.1M$100KQ3 2025−$30.4M$200KQ4 2025−$69.2M$1.3MQ1 2026−$48.3M$200KQ2 2026−$10.4M−$200KQ3 2026
Latest (Q3 2026): Operating cash flow −$10.4M, Capital spending −$200K.

Capital allocation, year by year

Arvinas: where the cash came from (up) and went (down), by fiscal yearArvinas: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksFY2021: Operating cash flow $559MFY2021: Shares issued $1.3BFY2021: Capital spending −$4.7M$1.9BFY2021FY2022: Operating cash flow −$274MFY2022: Shares issued $4.7MFY2022: Capital spending −$6.8M$4.7MFY2022FY2023: Operating cash flow −$348MFY2023: Capital spending −$2.9MFY2023FY2024: Operating cash flow −$259MFY2024: Net borrowing −$400KFY2024: Asset sales $100KFY2024: Capital spending −$1.8M$100KFY2024FY2025: Operating cash flow −$274MFY2025: Net borrowing −$200KFY2025: Capital spending −$1.9MFY2025: Buybacks −$91.9MFY2025
Over these 5 years operating cash flow totalled −$595M; the largest uses were operating cash flow ($1.2B) and buybacks ($91.9M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$558M
Debt$400K
Net cash$558M
Due within a year$200K
Cash runway3.5 years

Arvinas is burning cash: its operations consume cash, a free cash flow of −$160M a year at the current rate against $558M of cash and investments: a runway of about 3.5 years; $200K of debt also comes due within a year, which the cash covers before any new financing.

Arvinas: debt maturities by year (FY2025)Arvinas: debt maturities by year (FY2025)$200KYear 1$200KYear 2$200KYear 3
Principal due in each year as disclosed in the annual report, against $558M of cash and investments now.

Where the cash came from and went

Arvinas: sources (+) and uses (−) of cash, Q3 2026Arvinas: sources (+) and uses (−) of cash, Q3 2026Operating cash flow−$10.4MCash drawn (+) / kept (−)$5.8MOther investing$4.0MOther financing$400KCapital spending$200K
Arvinas: sources (+) and uses (−) of cash, TTM to Q3 2026Arvinas: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing$220MOperating cash flow−$158MBuybacks−$74.1MCash drawn (+) / kept (−)$13.0MCapital spending−$1.5MOther financing$800K

From profit to cash

Arvinas: net income to operating cash flow, Q3 2026Arvinas: net income to operating cash flow, Q3 2026Net income−$53.9MDepreciation & amortization$600KStock-based pay$5.9MReceivables$48.5MPayables−$12.6MDeferred revenue−$100KContract assets$4.2MPrepaid and other assets$4.5MOperating cash flow−$10.4M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026−$10.4M$200K——$5.8M−$10.2M
Q2 2026−$48.3M−$200K—−$100K−$7.0M−$48.5M
Q1 2026−$69.2M−$1.3M—−$100K$55.6M−$70.5M
Q4 2025−$30.4M−$200K−$74.1M−$100K−$41.4M−$30.6M
Q3 2025−$59.1M−$100K——$13.4M−$59.2M
Q2 2025−$95.4M−$1.2M——−$33.9M−$96.6M
Q1 2025−$88.9M−$400K—−$100K$19.5M−$89.3M
Q4 2024−$84.1M−$300K—−$100K−$15.3M−$84.4M

Arvinas: income statement and cash flow

Arvinas, Q3 2026: revenue $500K (-99% year over year). The chart follows the revenue to costs, profit and cash.

Arvinas: 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.