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Arcus Biosciences cash flow, quarter by quarter

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

Free cash flow−$88.0M in Q3 2026 · −$466M over twelve months

Operating cash flow−$88.0M
Free cash flow−$88.0M

Analysis

In Q3 2026, Arcus Biosciences generated −$88.0M of operating cash flow. That is $9.0M more than in Q3 2025 (−$97.0M).

Over the twelve months to Sep 30, 2026, operating cash flow was −$465M; the largest uses were operating cash flow ($465M), capital spending ($1.0M); besides operations, cash came from shares issued ($312M), other investing ($67.0M); the cash balance fell by $87.0M.

Operating cash flow was −$88.0M against net income of −$128M. The largest differences: contract assets +$18.0M, stock-based pay +$16.0M, payables +$10.0M.

Free cash flow

Arcus Biosciences: free cash flow by quarterArcus Biosciences: free cash flow by quarter−$101MQ4 2024−$133MQ1 2025−$133MQ2 2025−$97.0MQ3 2025−$121MQ4 2025−$138MQ1 2026−$119MQ2 2026−$88.0MQ3 2026
Operating cash flow less capital spending.
Arcus Biosciences: operating cash flow against capital spendingArcus Biosciences: operating cash flow against capital spendingOperating cash flowCapital spending−$100M$1.0MQ4 2024−$132M$1.0MQ1 2025−$133M$0Q2 2025−$97.0M$0Q3 2025−$120M$1.0MQ4 2025−$138M$0Q1 2026−$119M$0Q2 2026−$88.0M$0Q3 2026
Latest (Q3 2026): Operating cash flow −$88.0M, Capital spending $0.

Capital allocation, year by year

Arcus Biosciences: where the cash came from (up) and went (down), by fiscal yearArcus Biosciences: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingFY2021: Operating cash flow −$256MFY2021: Shares issued $232MFY2021: Capital spending −$26.0M$232MFY2021FY2022: Operating cash flow $438MFY2022: Shares issued $23.0MFY2022: Capital spending −$6.0M$461MFY2022FY2023: Operating cash flow −$306MFY2023: Shares issued $33.0MFY2023: Capital spending −$24.0M$33.0MFY2023FY2024: Operating cash flow −$170MFY2024: Net borrowing $47.0MFY2024: Shares issued $237MFY2024: Capital spending −$6.0M$284MFY2024FY2025: Operating cash flow −$482MFY2025: Net borrowing $49.0MFY2025: Shares issued $439MFY2025: Capital spending −$2.0M$488MFY2025
Over these 5 years operating cash flow totalled −$776M; the largest uses were operating cash flow ($1.2B) and capital spending ($64.0M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$630M
Debt$102M
Net cash$528M
Cash runway16 months

Arcus Biosciences is burning cash: its operations consume cash, a free cash flow of −$466M a year at the current rate against $630M of cash and investments: a runway of about 16 months before any new financing.

Where the cash came from and went

Arcus Biosciences: sources (+) and uses (−) of cash, Q3 2026Arcus Biosciences: sources (+) and uses (−) of cash, Q3 2026Operating cash flow−$88.0MOther investing$82.0MShares issued$7.0MCash drawn (+) / kept (−)−$1.0M
Arcus Biosciences: sources (+) and uses (−) of cash, TTM to Q3 2026Arcus Biosciences: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow−$465MShares issued$312MCash drawn (+) / kept (−)$87.0MOther investing$67.0MCapital spending−$1.0M

From profit to cash

Arcus Biosciences: net income to operating cash flow, Q3 2026Arcus Biosciences: net income to operating cash flow, Q3 2026Net income−$128MDepreciation & amortization$2.0MStock-based pay$16.0MPayables$10.0MDeferred revenue−$9.0MContract assets$18.0MOther liabilities−$2.0MOperating cash flow−$88.0M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingShares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026−$88.0M—$7.0M−$1.0M−$88.0M
Q2 2026−$119M—$16.0M$51.0M−$119M
Q1 2026−$138M—$3.0M$21.0M−$138M
Q4 2025−$120M−$1.0M$286M$16.0M−$121M
Q3 2025−$97.0M—$8.0M$10.0M−$97.0M
Q2 2025−$133M—$3.0M−$56.0M−$133M
Q1 2025−$132M−$1.0M$142M−$42.0M−$133M
Q4 2024−$100M−$1.0M$3.0M$51.0M−$101M

Arcus Biosciences: income statement and cash flow

Arcus Biosciences, Q3 2026: revenue $9.0M (-65% year over year). The chart follows the revenue to costs, profit and cash.

Arcus Biosciences: 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.