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Lenz Therapeutics cash flow, quarter by quarter

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

Free cash flow−$22.3M in Q3 2026 · −$128M over twelve months

Operating cash flow−$22.3M
Free cash flow−$22.3M
Cash conversion cycle-314 days

Analysis

In Q3 2026, Lenz Therapeutics generated −$22.3M of operating cash flow. That is $13.3M less than in Q3 2025 (−$9.0M).

Over the twelve months to Sep 30, 2026, operating cash flow was −$128M; the largest uses were operating cash flow ($128M), capital spending ($72K); besides operations, cash came from other financing ($123M), other investing ($9.8M); the cash balance rose by $5.2M.

Operating cash flow was −$22.3M against net income of −$31.0M. The largest differences: prepaid and other assets +$4.8M, stock-based pay +$4.1M, accrued liabilities +$2.5M.

Its cash conversion cycle was -314 days (receivables 18 + inventory 900 − payables 1233): suppliers fund its working capital.

Free cash flow

Lenz Therapeutics: free cash flow by quarterLenz Therapeutics: free cash flow by quarter−$9.2MQ4 2024−$16.2MQ1 2025−$11.7MQ2 2025−$9.0MQ3 2025−$33.1MQ4 2025−$33.6MQ1 2026−$38.7MQ2 2026−$22.3MQ3 2026
Operating cash flow less capital spending.
Lenz Therapeutics: operating cash flow against capital spendingLenz Therapeutics: operating cash flow against capital spendingOperating cash flowCapital spending−$9.1M$149KQ4 2024−$16.0M$110KQ1 2025−$11.5M$240KQ2 2025−$8.6M$439KQ3 2025−$33.0M$38KQ4 2025−$33.6M$18KQ1 2026−$38.7M$16KQ2 2026−$22.3M$0Q3 2026
Latest (Q3 2026): Operating cash flow −$22.3M, Capital spending $0.

Capital allocation, year by year

Lenz Therapeutics: where the cash came from (up) and went (down), by fiscal yearLenz Therapeutics: where the cash came from (up) and went (down), by fiscal yearOperating cash flowShares issuedAsset salesCapital spendingFY2021: Operating cash flow −$52.9MFY2021: Shares issued $251MFY2021: Capital spending −$5.7M$251MFY2021FY2022: Operating cash flow −$88.0MFY2022: Shares issued $20KFY2022: Capital spending −$6.6M$20KFY2022FY2023: Operating cash flow −$60.4MFY2023: Shares issued $83.2MFY2023: Asset sales $1.9MFY2023: Capital spending −$30K$85.1MFY2023FY2024: Operating cash flow −$59.4MFY2024: Shares issued $83.6MFY2024: Capital spending −$468K$83.6MFY2024FY2025: Operating cash flow −$69.2MFY2025: Shares issued $1.1MFY2025: Capital spending −$827K$1.1MFY2025
Over these 5 years operating cash flow totalled −$330M; the largest uses were operating cash flow ($330M) and capital spending ($13.7M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$30.6M
Debtnone
Net cash$30.6M
Cash runway3 months

Lenz Therapeutics is burning cash: its operations consume cash, a free cash flow of −$128M a year at the current rate against $30.6M of cash and investments: a runway of about 3 months before any new financing.

Where the cash came from and went

Lenz Therapeutics: sources (+) and uses (−) of cash, Q3 2026Lenz Therapeutics: sources (+) and uses (−) of cash, Q3 2026Other investing$28.7MOperating cash flow−$22.3MCash drawn (+) / kept (−)−$6.3M
Lenz Therapeutics: sources (+) and uses (−) of cash, TTM to Q3 2026Lenz Therapeutics: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow−$128MOther financing$123MOther investing$9.8MCash drawn (+) / kept (−)−$5.2MShares issued$299KCapital spending−$72K

From profit to cash

Lenz Therapeutics: net income to operating cash flow, Q3 2026Lenz Therapeutics: net income to operating cash flow, Q3 2026Net income−$31.0MDepreciation & amortization$109KStock-based pay$4.1MReceivables−$471KInventory−$781KPayables−$1.1MAccrued liabilities$2.5MPrepaid and other assets$4.8MOperating cash flow−$22.3M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 2026189001233-314
Q2 2026712382856-1612
Q1 202616269631-346

Every quarter

QuarterOperating cash flowCapital spendingShares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026−$22.3M——−$6.3M−$22.3M
Q2 2026−$38.7M−$16K—$564K−$38.7M
Q1 2026−$33.6M−$18K$14K$407K−$33.6M
Q4 2025−$33.0M−$38K$285K$220K−$33.1M
Q3 2025−$8.6M−$439K$598K$12.3M−$9.0M
Q2 2025−$11.5M−$240K$196K−$14.6M−$11.7M
Q1 2025−$16.0M−$110K$44K−$2.9M−$16.2M
Q4 2024−$9.1M−$149K$53K$20.9M−$9.2M

Lenz Therapeutics: income statement and cash flow

Lenz Therapeutics, Q3 2026: revenue $3.4M (-73% year over year), operating margin -972.8%. The chart follows the revenue to costs, profit and cash.

Lenz 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.