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Tango Therapeutics cash flow, quarter by quarter

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

Free cash flow−$38.8M in Q2 2026 · −$144M over twelve months

Operating cash flow−$38.9M
Capital spending$20K
Free cash flow−$38.8M

Analysis

In Q2 2026, Tango Therapeutics generated −$38.9M of operating cash flow and spent −$20K on capital projects, leaving free cash flow of −$38.8M. That is $1.7M less than in Q2 2025 (−$37.1M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$144M; the largest uses were other investing ($524M), operating cash flow ($144M), capital spending ($351K); besides operations, cash came from other financing ($974M); the cash balance rose by $306M.

Operating cash flow was −$38.9M against net income of −$55.3M. The largest differences: stock-based pay +$16.9M, prepaid and other assets −$5.2M, payables −$759K.

Free cash flow

Tango Therapeutics: free cash flow by quarterTango Therapeutics: free cash flow by quarter−$33.5MQ3 2024−$36.8MQ4 2024−$41.7MQ1 2025−$37.1MQ2 2025−$31.1MQ3 2025−$29.9MQ4 2025−$44.4MQ1 2026−$38.8MQ2 2026
Operating cash flow less capital spending.
Tango Therapeutics: operating cash flow against capital spendingTango Therapeutics: operating cash flow against capital spendingOperating cash flowCapital spending−$33.4M$115KQ3 2024−$36.6M$124KQ4 2024−$41.7M$51KQ1 2025−$36.5M$624KQ2 2025−$31.0M$151KQ3 2025−$29.7M$222KQ4 2025−$44.4M−$2KQ1 2026−$38.9M−$20KQ2 2026
Latest (Q2 2026): Operating cash flow −$38.9M, Capital spending −$20K.

Capital allocation, year by year

Tango Therapeutics: where the cash came from (up) and went (down), by fiscal yearTango Therapeutics: where the cash came from (up) and went (down), by fiscal yearOperating cash flowShares issuedCapital spendingFY2021: Operating cash flow −$59.5MFY2021: Shares issued $31.0MFY2021: Capital spending −$1.8M$31.0MFY2021FY2022: Operating cash flow −$109MFY2022: Capital spending −$7.7MFY2022FY2023: Operating cash flow −$118MFY2023: Capital spending −$1.5MFY2023FY2024: Operating cash flow −$132MFY2024: Capital spending −$754KFY2024FY2025: Operating cash flow −$139MFY2025: Capital spending −$1.0MFY2025
Over these 5 years operating cash flow totalled −$557M; the largest uses were operating cash flow ($557M) and capital spending ($12.9M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$1.0B
Debtnone
Net cash$1.0B
Cash runway7.0 years

Tango Therapeutics is burning cash: its operations consume cash, a free cash flow of −$144M a year at the current rate against $1.0B of cash and investments: a runway of about 7.0 years before any new financing.

Where the cash came from and went

Tango Therapeutics: sources (+) and uses (−) of cash, Q2 2026Tango Therapeutics: sources (+) and uses (−) of cash, Q2 2026Other financing$652MOther investing−$446MCash drawn (+) / kept (−)−$188MOperating cash flow−$38.9MShares issued$20.6MCapital spending$20K
Tango Therapeutics: sources (+) and uses (−) of cash, TTM to Q2 2026Tango Therapeutics: sources (+) and uses (−) of cash, TTM to Q2 2026Other financing$974MOther investing−$524MCash drawn (+) / kept (−)−$306MOperating cash flow−$144MCapital spending−$351K

From profit to cash

Tango Therapeutics: net income to operating cash flow, Q2 2026Tango Therapeutics: net income to operating cash flow, Q2 2026Net income−$55.3MDepreciation & amortization$425KStock-based pay$16.9MOther non-cash−$18KPayables−$759KPrepaid and other assets−$5.2MOperating cash flow−$38.9M
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−$38.9M$20K$20.6M−$188M−$38.8M
Q1 2026−$44.4M$2K$17.6M−$45.1M−$44.4M
Q4 2025−$29.7M−$222K—−$53.9M−$29.9M
Q3 2025−$31.0M−$151K—−$19.1M−$31.1M
Q2 2025−$36.5M−$624K$581K$19.2M−$37.1M
Q1 2025−$41.7M−$51K$2K$11.1M−$41.7M
Q4 2024−$36.6M−$124K—−$16.4M−$36.8M
Q3 2024−$33.4M−$115K—−$1.6M−$33.5M

Tango Therapeutics: income statement and cash flow

Tango Therapeutics, Q3 2025: revenue $53.8M (+364% year over year), operating margin 26.2%. The chart follows the revenue to costs, profit and cash.

Tango 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.