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Macrogenics cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$41.6M in Q2 2026 · −$65.5M over twelve months

Operating cash flow−$40.7M
Capital spending−$806K
Free cash flow−$41.6M
Cash / net income-2.1×

Analysis

In Q2 2026, Macrogenics generated −$40.7M of operating cash flow and spent $806K on capital projects, leaving free cash flow of −$41.6M. That is $6.1M more than in Q2 2025 (−$47.7M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$63.7M; the largest uses were operating cash flow ($63.7M), other investing ($11.3M), capital spending ($1.8M); besides operations, cash came from other financing ($60.2M), shares issued ($67K); the cash balance fell by $16.8M.

Operating cash flow was −$40.7M against net income of $19.5M — -2.1× profit, less cash than reported earnings, worth checking against working capital. The largest differences: receivables −$25.9M, deferred revenue −$4.3M, stock-based pay +$2.0M.

Free cash flow

Macrogenics: free cash flow by quarterMacrogenics: free cash flow by quarter$59.6MQ3 2024−$39.0MQ4 2024−$47.4MQ1 2025−$47.7MQ2 2025−$30.6MQ3 2025$42.8MQ4 2025−$36.2MQ1 2026−$41.6MQ2 2026
Operating cash flow less capital spending.
Macrogenics: operating cash flow against capital spendingMacrogenics: operating cash flow against capital spendingOperating cash flowCapital spending$60.2M$592KQ3 2024−$38.4M$620KQ4 2024−$46.9M$529KQ1 2025−$47.0M$715KQ2 2025−$30.2M$426KQ3 2025$43.0M$244KQ4 2025−$35.8M$344KQ1 2026−$40.7M$806KQ2 2026
Latest (Q2 2026): Operating cash flow −$40.7M, Capital spending $806K.

Capital allocation, year by year

Macrogenics: where the cash came from (up) and went (down), by fiscal yearMacrogenics: where the cash came from (up) and went (down), by fiscal yearOperating cash flowShares issuedCapital spendingFY2021: Operating cash flow −$144MFY2021: Shares issued $124MFY2021: Capital spending −$6.2M$124MFY2021FY2022: Operating cash flow −$87.0MFY2022: Shares issued $1.3MFY2022: Capital spending −$3.6M$1.3MFY2022FY2023: Operating cash flow −$78.2MFY2023: Shares issued $745KFY2023: Capital spending −$1.8M$745KFY2023FY2024: Operating cash flow −$68.4MFY2024: Shares issued $3.1MFY2024: Capital spending −$3.7M$3.1MFY2024FY2025: Operating cash flow −$81.0MFY2025: Capital spending −$1.9MFY2025
Over these 5 years operating cash flow totalled −$458M; the largest uses were operating cash flow ($458M) and capital spending ($17.2M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$114M
Debtnone
Net cash$114M
Cash runway21 months

Macrogenics is burning cash: its operations consume cash, a free cash flow of −$65.5M a year at the current rate against $114M of cash and investments: a runway of about 21 months before any new financing.

Where the cash came from and went

Macrogenics: sources (+) and uses (−) of cash, Q2 2026Macrogenics: sources (+) and uses (−) of cash, Q2 2026Other financing$60.1MCash drawn (+) / kept (−)−$47.4MOperating cash flow−$40.7MOther investing$28.8MCapital spending−$806KShares issued$56K
Macrogenics: sources (+) and uses (−) of cash, TTM to Q2 2026Macrogenics: sources (+) and uses (−) of cash, TTM to Q2 2026Operating cash flow−$63.7MOther financing$60.2MCash drawn (+) / kept (−)$16.8MOther investing−$11.3MCapital spending−$1.8MTaxes on employees’ shares−$224KShares issued$67K

From profit to cash

Macrogenics: net income to operating cash flow, Q2 2026Macrogenics: net income to operating cash flow, Q2 2026Net income$19.5MDepreciation & amortization$708KStock-based pay$2.0MReceivables−$25.9MInventory$347KPayables$794KDeferred revenue−$4.3MPrepaid and other assets$809KOperating cash flow−$40.7M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q4 2024316402295-1624
Q3 2024611943244-2045

Every quarter

QuarterOperating cash flowCapital spendingShares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$40.7M−$806K$56K−$47.4M−$41.6M
Q1 2026−$35.8M−$344K$11K−$9.3M−$36.2M
Q4 2025$43.0M−$244K—$22.9M$42.8M
Q3 2025−$30.2M−$426K—$50.6M−$30.6M
Q2 2025−$47.0M−$715K—$14.9M−$47.7M
Q1 2025−$46.9M−$529K—$37.3M−$47.4M
Q4 2024−$38.4M−$620K$6K−$3.2M−$39.0M
Q3 2024$60.2M−$592K$5K−$95.7M$59.6M

Macrogenics: income statement and cash flow

Macrogenics, Q2 2026: revenue $32.8M (+378% year over year), operating margin -42.2%. The chart follows the revenue to costs, profit and cash.

Macrogenics: 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.