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Krystal Biotech cash flow, quarter by quarter

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

Free cash flow$90.3M in Q3 2026 · $310M over twelve months

Operating cash flow$91.2M
Capital spending−$996K
Free cash flow+$90.3M
Cash / net income1.4×

Analysis

In Q3 2026, Krystal Biotech generated $91.2M of operating cash flow and spent $996K on capital projects, leaving free cash flow of $90.3M. That is $52.3M more than in Q3 2025 ($38.0M).

Over the twelve months to Sep 30, 2026, operating cash flow was $324M; the largest uses were other investing ($258M), other financing ($17.1M), capital spending ($13.8M); besides operations, cash came from shares issued ($40.8M); the cash balance rose by $70.2M.

Operating cash flow was $91.2M against net income of $63.1M — 1.4× profit, cash ran ahead of reported earnings. The largest differences: stock-based pay +$13.9M, receivables +$5.4M, prepaid and other assets −$3.8M.

Free cash flow

Krystal Biotech: free cash flow by quarterKrystal Biotech: free cash flow by quarter$52.0MQ4 2024$24.8MQ1 2025$50.8MQ2 2025$38.0MQ3 2025$75.4MQ4 2025$73.2MQ1 2026$71.2MQ2 2026$90.3MQ3 2026
Operating cash flow less capital spending.
Krystal Biotech: operating cash flow against capital spendingKrystal Biotech: operating cash flow against capital spendingOperating cash flowCapital spending$52.8M$801KQ4 2024$31.0M$6.2MQ1 2025$52.7M$1.9MQ2 2025$39.7M$1.7MQ3 2025$77.5M$2.1MQ4 2025$80.4M$7.1MQ1 2026$74.8M$3.6MQ2 2026$91.2M$996KQ3 2026
Latest (Q3 2026): Operating cash flow $91.2M, Capital spending $996K.

Capital allocation, year by year

Krystal Biotech: where the cash came from (up) and went (down), by fiscal yearKrystal Biotech: where the cash came from (up) and went (down), by fiscal yearOperating cash flowShares issuedAsset salesCapital spendingFY2021: Operating cash flow −$47.9MFY2021: Shares issued $356MFY2021: Capital spending −$68.3M$356MFY2021FY2022: Operating cash flow −$101MFY2022: Shares issued $36.0MFY2022: Capital spending −$53.0M$36.0MFY2022FY2023: Operating cash flow −$88.8MFY2023: Shares issued $203MFY2023: Capital spending −$11.8M$203MFY2023FY2024: Operating cash flow $123MFY2024: Shares issued $32.4MFY2024: Capital spending −$4.2M$156MFY2024FY2025: Operating cash flow $201MFY2025: Shares issued $22.7MFY2025: Asset sales $435KFY2025: Capital spending −$12.0M$224MFY2025
Over these 5 years operating cash flow totalled $87.0M; the largest uses were operating cash flow ($237M) and capital spending ($149M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$912M
Debtnone
Net cash$912M

Krystal Biotech funds itself: free cash flow was $310M over the last twelve months, with $912M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Krystal Biotech: sources (+) and uses (−) of cash, Q3 2026Krystal Biotech: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$91.2MOther investing−$57.0MCash drawn (+) / kept (−)−$35.1MShares issued$3.4MExchange rates−$1.6MCapital spending−$996KOther financing−$11K
Krystal Biotech: sources (+) and uses (−) of cash, TTM to Q3 2026Krystal Biotech: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$324MOther investing−$258MCash drawn (+) / kept (−)−$70.2MShares issued$40.8MOther financing−$17.1MCapital spending−$13.8MExchange rates−$5.4M

From profit to cash

Krystal Biotech: net income to operating cash flow, Q3 2026Krystal Biotech: net income to operating cash flow, Q3 2026Net income$63.1MDepreciation & amortization$1.5MStock-based pay$13.9MReceivables$5.4MInventory−$2.0MPayables$215KAccrued liabilities$3.4MPrepaid and other assets−$3.8MOperating cash flow$91.2M
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$91.2M−$996K$3.4M−$35.1M$90.3M
Q2 2026$74.8M−$3.6M$15.2M$73.6M$71.2M
Q1 2026$80.4M−$7.1M$6.5M−$5.0M$73.2M
Q4 2025$77.5M−$2.1M$15.7M−$104M$75.4M
Q3 2025$39.7M−$1.7M$3.7M−$38.8M$38.0M
Q2 2025$52.7M−$1.9M$1.8M−$45.1M$50.8M
Q1 2025$31.0M−$6.2M$1.5M$36.1M$24.8M
Q4 2024$52.8M−$801K$2.4M$29.1M$52.0M

Krystal Biotech: income statement and cash flow

Krystal Biotech, Q3 2026: revenue $127M (+30% year over year), operating margin 55.9%. The chart follows the revenue to costs, profit and cash.

Krystal Biotech: 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.