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Seres Therapeutics cash flow, quarter by quarter

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

Free cash flow−$10.5M in Q3 2026 · −$64.0M over twelve months

Operating cash flow−$10.5M
Free cash flow−$10.5M

Analysis

In Q3 2026, Seres Therapeutics generated −$10.5M of operating cash flow. That is $12.7M less than in Q3 2025 ($2.2M).

Over the twelve months to Sep 30, 2026, operating cash flow was −$63.9M; the largest uses were operating cash flow ($63.9M), capital spending ($29K); besides operations, cash came from other financing ($15.1M), other investing ($12.5M); the cash balance fell by $35.6M.

Operating cash flow was −$10.5M against net income of −$16.3M. The largest differences: stock-based pay +$1.9M, depreciation & amortization +$481K, payables +$275K.

Free cash flow

Seres Therapeutics: free cash flow by quarterSeres Therapeutics: free cash flow by quarter−$39.0MQ4 2024$26.9MQ1 2025−$13.5MQ2 2025$2.2MQ3 2025−$14.7MQ4 2025−$16.4MQ1 2026−$22.4MQ2 2026−$10.5MQ3 2026
Operating cash flow less capital spending.
Seres Therapeutics: operating cash flow against capital spendingSeres Therapeutics: operating cash flow against capital spendingOperating cash flowCapital spending−$38.9M$90KQ4 2024$26.9M$34KQ1 2025−$13.3M$181KQ2 2025$2.2M$8KQ3 2025−$14.7M$29KQ4 2025−$16.4M$0Q1 2026−$22.4M$0Q2 2026−$10.5M$0Q3 2026
Latest (Q3 2026): Operating cash flow −$10.5M, Capital spending $0.

Capital allocation, year by year

Seres Therapeutics: where the cash came from (up) and went (down), by fiscal yearSeres Therapeutics: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsFY2021: Operating cash flow $6.7MFY2021: Net borrowing −$948KFY2021: Shares issued $1.3MFY2021: Capital spending −$9.6M$8.0MFY2021FY2022: Operating cash flow −$229MFY2022: Net borrowing $25.7MFY2022: Shares issued $97.7MFY2022: Capital spending −$9.8M$123MFY2022FY2023: Operating cash flow −$117MFY2023: Net borrowing $50.5MFY2023: Shares issued $877KFY2023: Capital spending −$8.0M$51.4MFY2023FY2024: Operating cash flow −$149MFY2024: Net borrowing −$128MFY2024: Asset sales $141MFY2024: Capital spending −$380KFY2024: Acquisitions −$15.0M$141MFY2024FY2025: Operating cash flow $1.1MFY2025: Shares issued $501KFY2025: Asset sales $210KFY2025: Capital spending −$252KFY2025: Acquisitions −$15.0M$1.8MFY2025
Over these 5 years operating cash flow totalled −$487M; the largest uses were operating cash flow ($495M) and net borrowing ($129M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$17.5M
Debtnone
Net cash$17.5M
Cash runway3 months

Seres Therapeutics is burning cash: its operations consume cash, a free cash flow of −$64.0M a year at the current rate against $17.5M of cash and investments: a runway of about 3 months before any new financing.

Where the cash came from and went

Seres Therapeutics: sources (+) and uses (−) of cash, Q3 2026Seres Therapeutics: sources (+) and uses (−) of cash, Q3 2026Other investing$12.5MOperating cash flow−$10.5MCash drawn (+) / kept (−)−$2.8MOther financing$741KAsset & business sales$52KShares issued$11K
Seres Therapeutics: sources (+) and uses (−) of cash, TTM to Q3 2026Seres Therapeutics: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow−$63.9MCash drawn (+) / kept (−)$35.6MOther financing$15.1MOther investing$12.5MShares issued$486KAsset & business sales$276KCapital spending−$29K

From profit to cash

Seres Therapeutics: net income to operating cash flow, Q3 2026Seres Therapeutics: net income to operating cash flow, Q3 2026Net income−$16.3MDepreciation & amortization$481KStock-based pay$1.9MGains on disposals$215KReceivables$91KPayables$275KOperating cash flow−$10.5M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsShares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026−$10.5M——$11K−$2.8M−$10.5M
Q2 2026−$22.4M———$20.7M−$22.4M
Q1 2026−$16.4M——$28K$15.9M−$16.4M
Q4 2025−$14.7M−$29K—$486K$1.9M−$14.7M
Q3 2025$2.2M−$8K—$46K−$2.3M$2.2M
Q2 2025−$13.3M−$181K——$13.5M−$13.5M
Q1 2025$26.9M−$34K−$15.0M$184K−$28.1M$26.9M
Q4 2024−$38.9M−$90K——$37.2M−$39.0M

Seres Therapeutics: income statement and cash flow

Seres Therapeutics, Q3 2026: revenue $593K (+69% year over year). The chart follows the revenue to costs, profit and cash.

Seres 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.