Filing Flows

Filing Flows › Companies › C4 Therapeutics › Cash flow

C4 Therapeutics cash flow, quarter by quarter

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

Free cash flow−$26.0M in Q3 2026 · −$79.7M over twelve months

Operating cash flow−$26.0M
Free cash flow−$26.0M

Analysis

In Q3 2026, C4 Therapeutics generated −$26.0M of operating cash flow. That is $5.7M more than in Q3 2025 (−$31.6M).

Over the twelve months to Sep 30, 2026, operating cash flow was −$79.6M; the largest uses were other investing ($99.9M), operating cash flow ($79.6M), buybacks ($253K); besides operations, cash came from other financing ($152M), shares issued ($1.0M); the cash balance fell by $26.4M.

Operating cash flow was −$26.0M against net income of −$21.8M. The largest differences: deferred revenue −$7.1M, stock-based pay +$3.0M, accrued liabilities +$357K.

Free cash flow

C4 Therapeutics: free cash flow by quarterC4 Therapeutics: free cash flow by quarter−$17.9MQ4 2024−$33.3MQ1 2025−$12.2MQ2 2025−$31.6MQ3 2025−$22.2MQ4 2025−$30.0MQ1 2026−$1.6MQ2 2026−$26.0MQ3 2026
Operating cash flow less capital spending.
C4 Therapeutics: operating cash flow against capital spendingC4 Therapeutics: operating cash flow against capital spendingOperating cash flowCapital spending−$17.9M−$4KQ4 2024−$33.3M$0Q1 2025−$12.1M$185KQ2 2025−$31.2M$411KQ3 2025−$22.1M$11KQ4 2025−$29.9M$64KQ1 2026−$1.6M$37KQ2 2026−$26.0M$0Q3 2026
Latest (Q3 2026): Operating cash flow −$26.0M, Capital spending $0.

Capital allocation, year by year

C4 Therapeutics: where the cash came from (up) and went (down), by fiscal yearC4 Therapeutics: where the cash came from (up) and went (down), by fiscal yearOperating cash flowShares issuedCapital spendingBuybacksFY2021: Operating cash flow −$87.0MFY2021: Shares issued $2.3MFY2021: Capital spending −$1.3M$2.3MFY2021FY2022: Operating cash flow −$106MFY2022: Shares issued $777KFY2022: Capital spending −$5.5M$777KFY2022FY2023: Operating cash flow −$107MFY2023: Shares issued $57.7MFY2023: Capital spending −$1.7MFY2023: Buybacks −$110K$57.7MFY2023FY2024: Operating cash flow −$65.2MFY2024: Shares issued $778KFY2024: Capital spending −$180KFY2024: Buybacks −$194K$778KFY2024FY2025: Operating cash flow −$98.7MFY2025: Shares issued $107KFY2025: Capital spending −$607KFY2025: Buybacks −$193K$107KFY2025
Over these 5 years operating cash flow totalled −$464M; the largest uses were operating cash flow ($464M) and capital spending ($9.3M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$32.4M
Debtnone
Net cash$32.4M
Cash runway5 months

C4 Therapeutics is burning cash: its operations consume cash, a free cash flow of −$79.7M a year at the current rate against $32.4M of cash and investments: a runway of about 5 months before any new financing.

Where the cash came from and went

C4 Therapeutics: sources (+) and uses (−) of cash, Q3 2026C4 Therapeutics: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)$46.2MOperating cash flow−$26.0MOther investing−$20.6MShares issued$225KOther financing$173KBuybacks−$39K
C4 Therapeutics: sources (+) and uses (−) of cash, TTM to Q3 2026C4 Therapeutics: sources (+) and uses (−) of cash, TTM to Q3 2026Other financing$152MOther investing−$99.9MOperating cash flow−$79.6MCash drawn (+) / kept (−)$26.4MShares issued$1.0MBuybacks−$253KCapital spending−$112K

From profit to cash

C4 Therapeutics: net income to operating cash flow, Q3 2026C4 Therapeutics: net income to operating cash flow, Q3 2026Net income−$21.8MDepreciation & amortization$320KStock-based pay$3.0MReceivables−$71KPayables−$158KAccrued liabilities$357KDeferred revenue−$7.1MPrepaid and other assets$126KOperating cash flow−$26.0M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksShares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026−$26.0M—−$39K$225K$46.2M−$26.0M
Q2 2026−$1.6M−$37K—$176K−$17.3M−$1.6M
Q1 2026−$29.9M−$64K−$200K$605K$13.3M−$30.0M
Q4 2025−$22.1M−$11K−$14K—−$15.8M−$22.2M
Q3 2025−$31.2M−$411K−$24K$7.6M$19.3M−$31.6M
Q2 2025−$12.1M−$185K——−$26.9M−$12.2M
Q1 2025−$33.3M—−$155K—$4.2M−$33.3M
Q4 2024−$17.9M$4K—$111K$4.2M−$17.9M

C4 Therapeutics: income statement and cash flow

C4 Therapeutics, Q3 2026: revenue $8.5M (-25% year over year), operating margin -290.5%. The chart follows the revenue to costs, profit and cash.

C4 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.