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Theravance Biopharma cash flow, quarter by quarter

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

Free cash flow−$7.0M in Q2 2026 · $53.7M over twelve months

Operating cash flow−$7.0M
Free cash flow−$7.0M

Analysis

In Q2 2026, Theravance Biopharma generated −$7.0M of operating cash flow. That is $215M less than in Q2 2025 ($208M).

Over the twelve months to Jun 30, 2026, operating cash flow was $53.7M; the largest uses were other investing ($107M), taxes on employees’ shares ($10.6M); besides operations, cash came from other financing ($2.1M); the cash balance fell by $62.2M.

Operating cash flow was −$7.0M against net income of −$5.9M. The largest differences: stock-based pay +$6.0M, accrued liabilities +$4.7M, payables −$448K.

Free cash flow

Theravance Biopharma: free cash flow by quarterTheravance Biopharma: free cash flow by quarter−$5.2MQ3 2024−$1.1MQ4 2024$43.0MQ1 2025$208MQ2 2025−$6.5MQ3 2025−$6.1MQ4 2025$73.3MQ1 2026−$7.0MQ2 2026
Operating cash flow less capital spending.
Theravance Biopharma: operating cash flow against capital spendingTheravance Biopharma: operating cash flow against capital spendingOperating cash flowCapital spending−$5.2M$15KQ3 2024−$902K$190KQ4 2024$43.0M$0Q1 2025$208M$0Q2 2025−$6.5M$0Q3 2025−$6.1M$8KQ4 2025$73.3M$0Q1 2026−$7.0M$0Q2 2026
Latest (Q2 2026): Operating cash flow −$7.0M, Capital spending $0.

Capital allocation, year by year

Theravance Biopharma: where the cash came from (up) and went (down), by fiscal yearTheravance Biopharma: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksFY2021: Operating cash flow −$208MFY2021: Net borrowing −$10.7MFY2021: Shares issued $108MFY2021: Asset sales $6KFY2021: Capital spending −$3.4M$108MFY2021FY2022: Operating cash flow −$187MFY2022: Shares issued $802KFY2022: Asset sales $4.6MFY2022: Capital spending −$572KFY2022: Buybacks −$129M$5.4MFY2022FY2023: Operating cash flow −$27.0MFY2023: Shares issued $618KFY2023: Asset sales $1.5MFY2023: Capital spending −$2.5MFY2023: Buybacks −$197M$2.1MFY2023FY2024: Operating cash flow −$11.5MFY2024: Shares issued $607KFY2024: Capital spending −$332KFY2024: Buybacks −$445K$607KFY2024FY2025: Operating cash flow $239MFY2025: Shares issued $786KFY2025: Capital spending −$42K$239MFY2025
Over these 5 years operating cash flow totalled −$195M; the largest uses were operating cash flow ($433M) and buybacks ($326M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$388M
Debtnone
Net cash$388M
Cash runwaymore than 10 years

Theravance Biopharma is burning cash: its operations consume cash, a free cash flow of −$27.9M a year at the current rate against $388M of cash and investments: a runway of more than ten years at that rate before any new financing.

Where the cash came from and went

Theravance Biopharma: sources (+) and uses (−) of cash, Q2 2026Theravance Biopharma: sources (+) and uses (−) of cash, Q2 2026Cash drawn (+) / kept (−)$68.3MOther investing−$60.4MOperating cash flow−$7.0MTaxes on employees’ shares−$2.1MShares issued$1.1M
Theravance Biopharma: sources (+) and uses (−) of cash, TTM to Q2 2026Theravance Biopharma: sources (+) and uses (−) of cash, TTM to Q2 2026Other investing−$107MCash drawn (+) / kept (−)$62.2MOperating cash flow$53.7MTaxes on employees’ shares−$10.6MOther financing$2.1M

From profit to cash

Theravance Biopharma: net income to operating cash flow, Q2 2026Theravance Biopharma: net income to operating cash flow, Q2 2026Net income−$5.9MStock-based pay$6.0MDeferred taxes−$218KOther non-cash$26KPayables−$448KAccrued liabilities$4.7MPrepaid and other assets$331KOperating cash flow−$7.0M
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
Q2 2026−$7.0M—$1.1M$68.3M−$7.0M
Q1 2026$73.3M—$241K−$120M$73.3M
Q4 2025−$6.1M−$8K$488K$7.0M−$6.1M
Q3 2025−$6.5M——$107M−$6.5M
Q2 2025$208M——−$171M$208M
Q1 2025$43.0M—$20K−$72.8M$43.0M
Q4 2024−$902K−$190K$163K−$14.4M−$1.1M
Q3 2024−$5.2M−$15K$25K$23.0M−$5.2M

Theravance Biopharma: income statement and cash flow

Theravance Biopharma, Q2 2026: revenue $20.7M (-21% year over year), operating margin -39.9%. The chart follows the revenue to costs, profit and cash.

Theravance Biopharma: 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.