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Equillium cash flow, quarter by quarter

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

Free cash flow−$4.2M in Q2 2026 · −$20.1M over twelve months

Operating cash flow−$4.1M
Capital spending−$71K
Free cash flow−$4.2M

Analysis

In Q2 2026, Equillium generated −$4.1M of operating cash flow and spent $71K on capital projects, leaving free cash flow of −$4.2M. That is $1.2M less than in Q2 2025 (−$3.0M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$20.0M; the largest uses were operating cash flow ($20.0M), capital spending ($118K); besides operations, cash came from other financing ($63.4M), shares issued ($2.4M); the cash balance rose by $45.7M.

Operating cash flow was −$4.1M against net income of −$4.7M. The largest differences: stock-based pay +$1.1M, accrued liabilities −$352K, payables −$345K.

Free cash flow

Equillium: free cash flow by quarterEquillium: free cash flow by quarter−$7.7MQ3 2024−$3.3MQ4 2024−$8.2MQ1 2025−$3.0MQ2 2025−$8.4MQ3 2025−$3.2MQ4 2025−$4.3MQ1 2026−$4.2MQ2 2026
Operating cash flow less capital spending.
Equillium: operating cash flow against capital spendingEquillium: operating cash flow against capital spendingOperating cash flowCapital spending−$7.7M$0Q3 2024−$3.3M$4KQ4 2024−$8.2M$4KQ1 2025−$3.0M$0Q2 2025−$8.4M$0Q3 2025−$3.1M$44KQ4 2025−$4.3M$3KQ1 2026−$4.1M$71KQ2 2026
Latest (Q2 2026): Operating cash flow −$4.1M, Capital spending $71K.

Capital allocation, year by year

Equillium: where the cash came from (up) and went (down), by fiscal yearEquillium: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksFY2021: Operating cash flow −$32.1MFY2021: Shares issued $891KFY2021: Capital spending −$57K$891KFY2021FY2022: Operating cash flow −$8.7MFY2022: Net borrowing −$1.4MFY2022: Capital spending −$279KFY2022FY2023: Operating cash flow −$21.8MFY2023: Net borrowing −$9.1MFY2023: Capital spending −$50KFY2023: Buybacks −$260KFY2023FY2024: Operating cash flow −$19.0MFY2024: Shares issued $4KFY2024: Capital spending −$85K$4KFY2024FY2025: Operating cash flow −$22.7MFY2025: Shares issued $1.8MFY2025: Asset sales $12KFY2025: Capital spending −$48K$1.8MFY2025
Over these 5 years operating cash flow totalled −$104M; the largest uses were operating cash flow ($104M) and net borrowing ($10.6M). Cash-flow statements as filed.

Where the cash came from and went

Equillium: sources (+) and uses (−) of cash, Q2 2026Equillium: sources (+) and uses (−) of cash, Q2 2026Cash drawn (+) / kept (−)$4.2MOperating cash flow−$4.1MShares issued$135KOther financing−$93KCapital spending−$71KExchange rates−$22K
Equillium: sources (+) and uses (−) of cash, TTM to Q2 2026Equillium: sources (+) and uses (−) of cash, TTM to Q2 2026Other financing$63.4MCash drawn (+) / kept (−)−$45.7MOperating cash flow−$20.0MShares issued$2.4MCapital spending−$118KOther investing$12KExchange rates$7K

From profit to cash

Equillium: net income to operating cash flow, Q2 2026Equillium: net income to operating cash flow, Q2 2026Net income−$4.7MDepreciation & amortization$26KStock-based pay$1.1MPayables−$345KAccrued liabilities−$352KPrepaid and other assets$140KOperating cash flow−$4.1M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingShares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$4.1M−$71K$135K$4.2M−$4.2M
Q1 2026−$4.3M−$3K$35.0M−$31.0M−$4.3M
Q4 2025−$3.1M−$44K$604K$2.8M−$3.2M
Q3 2025−$8.4M—$30.0M−$21.6M−$8.4M
Q2 2025−$3.0M——$3.0M−$3.0M
Q1 2025−$8.2M−$4K$38K$3.6M−$8.2M
Q4 2024−$3.3M−$4K—−$2.6M−$3.3M
Q3 2024−$7.7M——−$4.4M−$7.7M

Equillium: income statement and cash flow

Equillium, Q4 2024: revenue $4.4M (-52% year over year), operating margin -107.0%. The chart follows the revenue to costs, profit and cash.

Equillium: 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.