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Janux Therapeutics cash flow, quarter by quarter

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

Free cash flow−$25.2M in Q3 2026 · −$54.2M over twelve months

Operating cash flow−$25.2M
Capital spending−$2K
Free cash flow−$25.2M

Analysis

In Q3 2026, Janux Therapeutics generated −$25.2M of operating cash flow and spent $2K on capital projects, leaving free cash flow of −$25.2M. That is $12.2M less than in Q3 2025 (−$12.9M).

Over the twelve months to Sep 30, 2026, operating cash flow was −$53.6M; the largest uses were operating cash flow ($53.6M), capital spending ($583K); besides operations, cash came from other investing ($38.0M), other financing ($9.6M); the cash balance fell by $6.6M.

Operating cash flow was −$25.2M against net income of −$21.6M. The largest differences: deferred revenue −$8.9M, stock-based pay +$8.5M, payables +$1.3M.

Free cash flow

Janux Therapeutics: free cash flow by quarterJanux Therapeutics: free cash flow by quarter−$16.8MQ4 2024−$17.4MQ1 2025−$24.3MQ2 2025−$12.9MQ3 2025−$28.6MQ4 2025−$12.6MQ1 2026$12.3MQ2 2026−$25.2MQ3 2026
Operating cash flow less capital spending.
Janux Therapeutics: operating cash flow against capital spendingJanux Therapeutics: operating cash flow against capital spendingOperating cash flowCapital spending−$16.7M$42KQ4 2024−$17.0M$371KQ1 2025−$23.8M$473KQ2 2025−$12.9M$93KQ3 2025−$28.5M$106KQ4 2025−$12.3M$273KQ1 2026$12.5M$202KQ2 2026−$25.2M$2KQ3 2026
Latest (Q3 2026): Operating cash flow −$25.2M, Capital spending $2K.

Capital allocation, year by year

Janux Therapeutics: where the cash came from (up) and went (down), by fiscal yearJanux Therapeutics: where the cash came from (up) and went (down), by fiscal yearOperating cash flowShares issuedCapital spendingFY2021: Operating cash flow −$17.0MFY2021: Shares issued $204MFY2021: Capital spending −$1.5M$204MFY2021FY2022: Operating cash flow −$42.9MFY2022: Capital spending −$6.4MFY2022FY2023: Operating cash flow −$50.6MFY2023: Capital spending −$1.9MFY2023FY2024: Operating cash flow −$43.8MFY2024: Capital spending −$359KFY2024FY2025: Operating cash flow −$82.2MFY2025: Capital spending −$1.0MFY2025
Over these 5 years operating cash flow totalled −$237M; the largest uses were operating cash flow ($237M) and capital spending ($11.2M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$946M
Debtnone
Net cash$946M
Cash runwaymore than 10 years

Janux Therapeutics is burning cash: its operations consume cash, a free cash flow of −$54.2M a year at the current rate against $946M of cash and investments: a runway of more than ten years at that rate before any new financing.

Where the cash came from and went

Janux Therapeutics: sources (+) and uses (−) of cash, Q3 2026Janux Therapeutics: sources (+) and uses (−) of cash, Q3 2026Other investing$38.4MOperating cash flow−$25.2MCash drawn (+) / kept (−)−$14.1MOther financing$852KCapital spending−$2K
Janux Therapeutics: sources (+) and uses (−) of cash, TTM to Q3 2026Janux Therapeutics: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow−$53.6MOther investing$38.0MOther financing$9.6MCash drawn (+) / kept (−)$6.6MCapital spending−$583K

From profit to cash

Janux Therapeutics: net income to operating cash flow, Q3 2026Janux Therapeutics: net income to operating cash flow, Q3 2026Net income−$21.6MDepreciation & amortization$458KStock-based pay$8.5MReceivables−$262KPayables$1.3MAccrued liabilities$594KDeferred revenue−$8.9MPrepaid and other assets−$979KOperating cash flow−$25.2M
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
Q3 2026−$25.2M−$2K—−$14.1M−$25.2M
Q2 2026$12.5M−$202K—$24.1M$12.3M
Q1 2026−$12.3M−$273K$3.5M$506K−$12.6M
Q4 2025−$28.5M−$106K—−$3.9M−$28.6M
Q3 2025−$12.9M−$93K—$4.1M−$12.9M
Q2 2025−$23.8M−$473K—$21.3M−$24.3M
Q1 2025−$17.0M−$371K$901K$357M−$17.4M
Q4 2024−$16.7M−$42K—−$404M−$16.8M

Janux Therapeutics: income statement and cash flow

Janux Therapeutics, Q3 2026: revenue $9.3M (-7% year over year), operating margin -336.5%. The chart follows the revenue to costs, profit and cash.

Janux 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.