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Lineage Cell Therapeutics (LCTX) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 6, 2026 · Lineage Cell Therapeutics (LCTX) Q2 2026 earnings results →
Q2 2026 Revenue down 61% year over year to $1.1M · 144¢ of every $1 of revenue kept as net profit · operating margin -834.7%
Lineage Cell Therapeutics made $1.1M in Q2 2026 (-61% Y/Y): Collaboration Revenues $943K, Royalties License and Other Revenues $126K. Operating margin -834.7%, net earnings $1.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 6, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $1.1M in Q2 2026, down 61% year over year and down 38% from the previous quarter. Upfront License Fees was the largest line at 56% of revenue. Upfront License Fees lost $1.9M year over year (down 76%), 114% of the total change.
Operating costs exceeded revenue by $8.9M, an operating margin of -834.7%. Total costs fell 56% while revenue fell 61%. The fastest-growing cost line was Research & development (+54%). Net earnings were $1.5M. The effective tax rate was 0.0%. Non-operating items added $10.5M, 678% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$7.2M. Non-cash charges added back $187K of depreciation and amortization and $1.6M of share-based compensation. Working capital and other items used $10.6M. Capital expenditures of $108K exceeded it, leaving free cash flow of −$7.4M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 6, 2026 | $1.1M | -61% | -834.7% | $1.5M | −$7.2M |
| Q1 2026 | 10-Q | May 12, 2026 | $1.7M | +15% | -440.2% | −$4.8M | −$8.1M |
| Q4 2025 | 10-K | Mar 5, 2026 | $6.6M | +130% | -99.1% | $892K | −$4.9M |
| Q3 2025 | 10-Q | Nov 6, 2025 | $3.7M | -3% | -102.9% | −$29.8M | −$3.6M |
| Q2 2025 | 10-Q | Aug 12, 2025 | $2.8M | +96% | -715.4% | −$30.4M | −$5.5M |
| Q1 2025 | 10-Q | May 13, 2025 | $1.5M | +4% | -433.1% | −$4.1M | −$4.9M |
| Q4 2024 | 10-K | Mar 10, 2025 | $2.9M | +37% | -178.2% | −$3.2M | −$6.3M |
Charts
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About Lineage Cell Therapeutics
We are a clinical-stage biotechnology company developing cell replacement therapies to treat serious medical conditions. Certain diseases and medical events can arise from the loss of critical cellular activity and lead to devastating or difficult-to-treat conditions or impairments. Our work is grounded in the emerging evidence that replacing or supporting those cells that have become dysfunctional or “lost” (destroyed or dead) can restore or replenish normal function and improve treatment and recovery paradigms. We call this approach “Replace and Restore”. We believe cellular therapies aimed at entirely replacing dysfunctional or destroyed cells may have more durable, broader, or suitable applicability than traditional pharmaceutical products, which often seek to affect just a single molecular target or group of biological pathways.
In its own words, from its 10-K, filed Mar 5, 2026.
Lineage Cell Therapeutics against its Biological Products, (No Diagnostic Substances) peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -61% against the peers' median +11%. Operating margin: -834.7% against the peers' median 35.8%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| LCTX Lineage Cell Therapeutics | Q2 2026 | $1.1M | -61% | -834.7% |
| AMGN Amgen | Q3 2026 | $10.4B | +8% | 35.8% |
| GILD Gilead Sciences | Q3 2026 | $8.3B | +7% | 41.7% |
| BIIB Biogen | Q3 2026 | $2.8B | +11% | -0.3% |
| MRNA Moderna | Q3 2026 | $1.3B | +29% | 9.9% |
| NBIX Neurocrine Biosciences | Q3 2026 | $1.1B | +41% | 29.5% |
| EXEL Exelixis | Q3 2026 | $659M | +10% | 40.8% |
| HALO Halozyme Therapeutics | Q3 2026 | $493M | +39% | 59.8% |
| MGTX MeiraGTx Holdings | Q2 2026 | $321M | 87× | 76.0% |
Source: Lineage Cell Therapeutics 10-Q on SEC EDGAR · CIK 876343 · Biological Products, (No Diagnostic Substances)
13F: who owns LCTX and who is buying
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History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results