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Kymera Therapeutics cash flow, quarter by quarter

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

Free cash flow−$78.2M in Q3 2026 · −$289M over twelve months

Operating cash flow−$77.9M
Capital spending−$315K
Free cash flow−$78.2M

Analysis

In Q3 2026, Kymera Therapeutics generated −$77.9M of operating cash flow and spent $315K on capital projects, leaving free cash flow of −$78.2M. That is $50.9M less than in Q3 2025 (−$27.3M).

Over the twelve months to Sep 30, 2026, operating cash flow was −$288M; the largest uses were other investing ($414M), operating cash flow ($288M), capital spending ($1.3M); besides operations, cash came from other financing ($749M), shares issued ($215M); the cash balance rose by $261M.

Operating cash flow was −$77.9M against net income of −$132M. The largest differences: stock-based pay +$18.8M, accrued liabilities +$14.8M, payables +$3.0M.

Free cash flow

Kymera Therapeutics: free cash flow by quarterKymera Therapeutics: free cash flow by quarter−$62.7MQ4 2024−$79.6MQ1 2025−$60.6MQ2 2025−$27.3MQ3 2025−$66.9MQ4 2025−$89.3MQ1 2026−$54.5MQ2 2026−$78.2MQ3 2026
Operating cash flow less capital spending.
Kymera Therapeutics: operating cash flow against capital spendingKymera Therapeutics: operating cash flow against capital spendingOperating cash flowCapital spending−$61.8M$936KQ4 2024−$79.2M$467KQ1 2025−$59.9M$695KQ2 2025−$27.1M$181KQ3 2025−$66.7M$106KQ4 2025−$88.8M$434KQ1 2026−$54.1M$473KQ2 2026−$77.9M$315KQ3 2026
Latest (Q3 2026): Operating cash flow −$77.9M, Capital spending $315K.

Capital allocation, year by year

Kymera Therapeutics: where the cash came from (up) and went (down), by fiscal yearKymera Therapeutics: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingFY2021: Operating cash flow −$129MFY2021: Net borrowing −$158KFY2021: Shares issued $7.6MFY2021: Capital spending −$1.6M$7.6MFY2021FY2022: Operating cash flow −$153MFY2022: Net borrowing −$179KFY2022: Capital spending −$2.8MFY2022FY2023: Operating cash flow −$103MFY2023: Net borrowing −$181KFY2023: Capital spending −$34.5MFY2023FY2024: Operating cash flow −$195MFY2024: Net borrowing −$206KFY2024: Shares issued $48.7MFY2024: Capital spending −$12.8M$48.7MFY2024FY2025: Operating cash flow −$233MFY2025: Net borrowing −$312KFY2025: Capital spending −$1.4MFY2025
Over these 5 years operating cash flow totalled −$812M; the largest uses were operating cash flow ($812M) and capital spending ($53.2M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$971M
Debtnone
Net cash$971M
Cash runway3.4 years

Kymera Therapeutics is burning cash: its operations consume cash, a free cash flow of −$289M a year at the current rate against $971M of cash and investments: a runway of about 3.4 years before any new financing.

Where the cash came from and went

Kymera Therapeutics: sources (+) and uses (−) of cash, Q3 2026Kymera Therapeutics: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)−$249MOther financing$215MOther investing$102MOperating cash flow−$77.9MShares issued$10.6MCapital spending−$315KNet borrowing (+) / repaid (−)−$47K
Kymera Therapeutics: sources (+) and uses (−) of cash, TTM to Q3 2026Kymera Therapeutics: sources (+) and uses (−) of cash, TTM to Q3 2026Other financing$749MOther investing−$414MOperating cash flow−$288MCash drawn (+) / kept (−)−$261MShares issued$215MCapital spending−$1.3MNet borrowing (+) / repaid (−)−$244K

From profit to cash

Kymera Therapeutics: net income to operating cash flow, Q3 2026Kymera Therapeutics: net income to operating cash flow, Q3 2026Net income−$132MDepreciation & amortization$2.0MStock-based pay$18.8MPayables$3.0MAccrued liabilities$14.8MPrepaid and other assets−$1.1MOther operating capital$654KOperating cash flow−$77.9M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026−$77.9M−$315K−$47K$10.6M−$249M−$78.2M
Q2 2026−$54.1M−$473K−$56K$13.4M$19.6M−$54.5M
Q1 2026−$88.8M−$434K−$66K$19.2M$213M−$89.3M
Q4 2025−$66.7M−$106K−$75K—−$244M−$66.9M
Q3 2025−$27.1M−$181K−$83K—$223M−$27.3M
Q2 2025−$59.9M−$695K−$77K—−$246M−$60.6M
Q1 2025−$79.2M−$467K−$77K—$30.3M−$79.6M
Q4 2024−$61.8M−$936K−$69K—−$9.5M−$62.7M

Kymera Therapeutics: income statement and cash flow

Kymera Therapeutics, Q2 2026: revenue $65.0M (+466% year over year), operating margin -116.3%. The chart follows the revenue to costs, profit and cash.

Kymera 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.