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Sarepta Therapeutics cash flow, quarter by quarter

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

Free cash flow$57.0M in Q3 2026 · $176M over twelve months

Operating cash flow$60.0M
Capital spending−$2.9M
Free cash flow+$57.0M

Analysis

In Q3 2026, Sarepta Therapeutics generated $60.0M of operating cash flow and spent $2.9M on capital projects, leaving free cash flow of $57.0M. That is $94.6M more than in Q3 2025 (−$37.5M).

Over the twelve months to Sep 30, 2026, operating cash flow was $186M; the largest uses were other investing ($281M), net borrowing (+) / repaid (−) ($35.1M), capital spending ($9.2M); besides operations, cash came from shares issued ($549K); the cash balance fell by $143M.

Operating cash flow was $60.0M against net income of −$28.5M. The largest differences: inventory +$59.6M, deferred revenue −$31.5M, accrued liabilities −$29.5M.

Free cash flow

Sarepta Therapeutics: free cash flow by quarterSarepta Therapeutics: free cash flow by quarter$54.0MQ4 2024−$627MQ1 2025$230MQ2 2025−$37.5MQ3 2025$128MQ4 2025−$205MQ1 2026$197MQ2 2026$57.0MQ3 2026
Operating cash flow less capital spending.
Sarepta Therapeutics: operating cash flow against capital spendingSarepta Therapeutics: operating cash flow against capital spendingOperating cash flowCapital spending$92.0M$38.1MQ4 2024−$583M$43.7MQ1 2025$261M$31.8MQ2 2025−$14.6M$22.9MQ3 2025$131M$3.6MQ4 2025−$203M$2.1MQ1 2026$197M$555KQ2 2026$60.0M$2.9MQ3 2026
Latest (Q3 2026): Operating cash flow $60.0M, Capital spending $2.9M.

Capital allocation, year by year

Sarepta Therapeutics: where the cash came from (up) and went (down), by fiscal yearSarepta Therapeutics: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingBuybacksFY2021: Operating cash flow −$443MFY2021: Shares issued $20.8MFY2021: Capital spending −$38.5M$20.8MFY2021FY2022: Operating cash flow −$325MFY2022: Net borrowing −$550MFY2022: Shares issued $30.0MFY2022: Capital spending −$30.8M$30.0MFY2022FY2023: Operating cash flow −$501MFY2023: Shares issued $51.2MFY2023: Capital spending −$76.1M$51.2MFY2023FY2024: Operating cash flow −$206MFY2024: Shares issued $79.5MFY2024: Capital spending −$137M$79.5MFY2024FY2025: Operating cash flow −$205MFY2025: Net borrowing −$158MFY2025: Shares issued $38.7MFY2025: Capital spending −$102MFY2025: Buybacks −$25.0M$38.7MFY2025
Over these 5 years operating cash flow totalled −$1.7B; the largest uses were operating cash flow ($1.7B) and net borrowing ($708M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$879M
Debt$857M
Net cash$21.4M
Due within a year$41.6M

Sarepta Therapeutics funds itself: free cash flow was $176M over the last twelve months, and $879M of cash and investments stands against $857M of debt ($41.6M due within a year, 21.1× covered by cash).

Sarepta Therapeutics: debt maturities by year (FY2025)Sarepta Therapeutics: debt maturities by year (FY2025)$41.6MYear 1$204MYear 2$43.6MYear 3$43.6MYear 4$937MYear 5
Principal due in each year as disclosed in the annual report, against $879M of cash and investments now.

Where the cash came from and went

Sarepta Therapeutics: sources (+) and uses (−) of cash, Q3 2026Sarepta Therapeutics: sources (+) and uses (−) of cash, Q3 2026Other investing−$155MCash drawn (+) / kept (−)$98.4MOperating cash flow$60.0MCapital spending−$2.9M
Sarepta Therapeutics: sources (+) and uses (−) of cash, TTM to Q3 2026Sarepta Therapeutics: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing−$281MOperating cash flow$186MCash drawn (+) / kept (−)$143MNet borrowing (+) / repaid (−)−$35.1MCapital spending−$9.2MOther financing−$4.4MShares issued$549K

From profit to cash

Sarepta Therapeutics: net income to operating cash flow, Q3 2026Sarepta Therapeutics: net income to operating cash flow, Q3 2026Net income−$28.5MDepreciation & amortization$5.9MStock-based pay$26.7MGains on investments$523KOther non-cash$2.7MReceivables$7.6MInventory$59.6MPayables−$6.7MAccrued liabilities−$29.5MDeferred revenue−$31.5MPrepaid and other assets$19.3MOperating cash flow$60.0M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$60.0M−$2.9M——$98.4M$57.0M
Q2 2026$197M−$555K——−$104M$197M
Q1 2026−$203M−$2.1M—$241K$337M−$205M
Q4 2025$131M−$3.6M−$35.1M$308K−$188M$128M
Q3 2025−$14.6M−$22.9M—$1.2M−$100M−$37.5M
Q2 2025$261M−$31.8M—$1.5M−$270M$230M
Q1 2025−$583M−$43.7M—$15.7M$862M−$627M
Q4 2024$92.0M−$38.1M—$3.7M−$905M$54.0M

Sarepta Therapeutics: income statement and cash flow

Sarepta Therapeutics, Q3 2026: revenue $381M (-4% year over year), operating margin -2.4%. The chart follows the revenue to costs, profit and cash.

Sarepta 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.