Filing Flows › Health Care › Lenz Therapeutics (LENZ)
Lenz Therapeutics (LENZ) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 3, 2026 · Lenz Therapeutics (LENZ) Q3 2026 earnings results →
Q3 2026 Revenue down 73% year over year to $3.4M · 915¢ of every $1 of revenue lost · operating margin -972.8%
Lenz Therapeutics made $3.4M in Q3 2026 (-73% Y/Y): Product sales, net $2.6M, License revenue $785K. Operating margin -972.8%, net loss $31.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 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 $3.4M in Q3 2026, down 73% year over year and down 38% from the previous quarter. Product sales, net was the largest line at 77% of revenue. License revenue lost $11.7M year over year (down 94%), 129% of the total change.
Operating costs exceeded revenue by $32.9M, an operating margin of -972.8%. Total costs grew 16% against a revenue fall of 73%. The fastest-growing cost line was SG&A (+30%). The quarter ended with a net loss of $31.0M, narrower than the previous quarter's $31.9M loss.
Operating cash flow was −$22.3M. Non-cash charges added back $109K of depreciation and amortization and $4.1M of share-based compensation. Working capital and other items added $4.4M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 3, 2026 | $3.4M | -73% | -972.8% | −$31.0M | −$22.3M |
| Q2 2026 | 10-Q | Aug 11, 2026 | $5.5M | +10% | -622.9% | −$31.9M | −$38.7M |
| Q1 2026 | 10-Q | May 11, 2026 | $1.9M | — | n/m | −$41.5M | −$33.6M |
| Q3 2025 | 10-Q | Nov 5, 2025 | $12.5M | — | -151.1% | −$16.7M | −$8.6M |
| Q2 2025 | 10-Q | Jul 30, 2025 | $5.0M | — | -337.1% | −$14.9M | −$11.5M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
Loading the interactive chart…
🌏Named in Asian annual reportsinteractive
Loading the interactive chart…
🔄Rotation against the market and its industry (RRG)interactive
Loading the interactive chart…
🔍Earnings qualityinteractive
Loading the interactive chart…
⚖️Fair value by methodinteractive
Loading the interactive chart…
🔭Outlook & guidanceinteractive
Loading the interactive chart…
📈Investments: gains and what it boughtinteractive
Loading the interactive chart…
🏭Its industry’s money flow (input-output)interactive
Loading the interactive chart…
About Lenz Therapeutics
We are a commercial pharmaceutical company focused on the development and commercialization of innovative therapies to improve vision. On July 31, 2025, the United States (“U.S.”) Food and Drug Administration (“FDA”) approved VIZZ ® (aceclidine ophthalmic solution) 1.44%, formerly known as LNZ100, the first and only FDA-approved aceclidine-based eye drop for the treatment of presbyopia, a condition impacting an estimated 1.8 billion people globally and 128 million people in the U.S. We are commercializing VIZZ in the U.S. and continue to establish licensing and distribution partnerships internationally to provide access to VIZZ globally. We believe that a once-daily pharmacological eye drop that can effectively and safely improve near vision throughout the full workday, without the need for reading glasses, is a highly attractive commercial product with an estimated U.S.
In its own words, from its 10-K, filed Mar 24, 2026.
Lenz Therapeutics against its Biological Products, (No Diagnostic Substances) peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -73% against the peers' median +11%. Operating margin: -972.8% against the peers' median 35.8%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| LENZ Lenz Therapeutics | Q3 2026 | $3.4M | -73% | -972.8% |
| 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: Lenz Therapeutics 10-Q on SEC EDGAR · CIK 1815776 · Biological Products, (No Diagnostic Substances)
Guidance and outlook
13F: who owns LENZ and who is buying
More on LENZ
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q3 2025 results · Q2 2025 results