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4D Molecular Therapeutics cash flow, quarter by quarter

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

Free cash flow−$70.0M in Q2 2026 · −$156M over twelve months

Operating cash flow−$70.0M
Free cash flow−$70.0M

Analysis

In Q2 2026, 4D Molecular Therapeutics generated −$70.0M of operating cash flow. That is $26.6M less than in Q2 2025 (−$43.4M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$156M; the largest uses were operating cash flow ($156M), other investing ($16.7M); besides operations, cash came from other financing ($166M), capital spending ($106K); the cash balance fell by $6.8M.

Operating cash flow was −$70.0M against net income of −$72.9M. The largest differences: accrued liabilities +$6.5M, prepaid and other assets −$6.5M, stock-based pay +$5.9M.

Free cash flow

4D Molecular Therapeutics: free cash flow by quarter4D Molecular Therapeutics: free cash flow by quarter−$31.2MQ3 2024−$46.8MQ4 2024−$48.4MQ1 2025−$43.4MQ2 2025−$46.4MQ3 2025$28.6MQ4 2025−$68.1MQ1 2026−$70.0MQ2 2026
Operating cash flow less capital spending.
4D Molecular Therapeutics: operating cash flow against capital spending4D Molecular Therapeutics: operating cash flow against capital spendingOperating cash flowCapital spending−$29.4M$1.8MQ3 2024−$45.9M$949KQ4 2024−$47.8M$631KQ1 2025−$43.4M$66KQ2 2025−$46.5M−$91KQ3 2025$28.6M−$70KQ4 2025−$68.1M$0Q1 2026−$70.0M$0Q2 2026
Latest (Q2 2026): Operating cash flow −$70.0M, Capital spending $0.

Capital allocation, year by year

4D Molecular Therapeutics: where the cash came from (up) and went (down), by fiscal year4D Molecular Therapeutics: where the cash came from (up) and went (down), by fiscal yearOperating cash flowShares issuedCapital spendingFY2021: Operating cash flow −$69.1MFY2021: Shares issued $115MFY2021: Capital spending −$9.1M$115MFY2021FY2022: Operating cash flow −$86.7MFY2022: Capital spending −$11.5MFY2022FY2023: Operating cash flow −$75.8MFY2023: Capital spending −$2.8MFY2023FY2024: Operating cash flow −$135MFY2024: Capital spending −$3.8MFY2024FY2025: Operating cash flow −$109MFY2025: Capital spending −$536KFY2025
Over these 5 years operating cash flow totalled −$475M; the largest uses were operating cash flow ($475M) and capital spending ($27.7M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$361M
Debt$19.6M
Net cash$342M
Cash runway2.3 years

4D Molecular Therapeutics is burning cash: its operations consume cash, a free cash flow of −$156M a year at the current rate against $361M of cash and investments: a runway of about 2.3 years before any new financing.

Where the cash came from and went

4D Molecular Therapeutics: sources (+) and uses (−) of cash, Q2 20264D Molecular Therapeutics: sources (+) and uses (−) of cash, Q2 2026Operating cash flow−$70.0MOther financing$42.3MOther investing$25.5MCash drawn (+) / kept (−)$2.1M
4D Molecular Therapeutics: sources (+) and uses (−) of cash, TTM to Q2 20264D Molecular Therapeutics: sources (+) and uses (−) of cash, TTM to Q2 2026Other financing$166MOperating cash flow−$156MOther investing−$16.7MCash drawn (+) / kept (−)$6.8MCapital spending$106K

From profit to cash

4D Molecular Therapeutics: net income to operating cash flow, Q2 20264D Molecular Therapeutics: net income to operating cash flow, Q2 2026Net income−$72.9MDepreciation & amortization$1.3MStock-based pay$5.9MPayables−$4.1MAccrued liabilities$6.5MDeferred revenue$830KPrepaid and other assets−$6.5MOperating cash flow−$70.0M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingCash drawn (+) / kept (−)Free cash flow
Q2 2026−$70.0M—$2.1M−$70.0M
Q1 2026−$68.1M—−$12.2M−$68.1M
Q4 2025$28.6M$70K−$11.7M$28.6M
Q3 2025−$46.5M$91K$28.6M−$46.4M
Q2 2025−$43.4M−$66K$56.4M−$43.4M
Q1 2025−$47.8M−$631K$15.8M−$48.4M
Q4 2024−$45.9M−$949K$38.2M−$46.8M
Q3 2024−$29.4M−$1.8M$1.5M−$31.2M

4D Molecular Therapeutics: income statement and cash flow

4D Molecular Therapeutics, Q2 2026: revenue $3.8M (252× year over year). The chart follows the revenue to costs, profit and cash.

4D Molecular 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.