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Verastem cash flow, quarter by quarter

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

Free cash flow−$33.6M in Q3 2026 · −$160M over twelve months

Operating cash flow−$33.6M
Free cash flow−$33.6M

Analysis

In Q3 2026, Verastem generated −$33.6M of operating cash flow. That is $2.6M more than in Q3 2025 (−$36.2M).

Over the twelve months to Sep 30, 2026, operating cash flow was −$160M; the largest uses were operating cash flow ($160M), other investing ($8.6M); besides operations, cash came from shares issued ($126M), net borrowing (+) / repaid (−) ($50.0M); the cash balance rose by $35.1M.

Operating cash flow was −$33.6M against net income of −$74.7M. The largest differences: accrued liabilities +$24.0M, receivables +$19.0M, prepaid and other assets −$6.3M.

Free cash flow

Verastem: free cash flow by quarterVerastem: free cash flow by quarter−$25.1MQ4 2024−$38.7MQ1 2025−$32.7MQ2 2025−$36.2MQ3 2025−$30.0MQ4 2025−$52.1MQ1 2026−$43.9MQ2 2026−$33.6MQ3 2026
Operating cash flow less capital spending.
Verastem: operating cash flow against capital spendingVerastem: operating cash flow against capital spendingOperating cash flowCapital spending−$25.1M$0Q4 2024−$38.7M$0Q1 2025−$32.7M$0Q2 2025−$36.2M$0Q3 2025−$30.0M$0Q4 2025−$52.1M$0Q1 2026−$43.9M$0Q2 2026−$33.6M$0Q3 2026
Latest (Q3 2026): Operating cash flow −$33.6M, Capital spending $0.

Capital allocation, year by year

Verastem: where the cash came from (up) and went (down), by fiscal yearVerastem: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingFY2021: Operating cash flow −$53.5MFY2021: Shares issued $7.8MFY2021: Capital spending −$196K$7.8MFY2021FY2022: Operating cash flow −$63.7MFY2022: Net borrowing $24.1MFY2022: Shares issued $27.6M$51.8MFY2022FY2023: Operating cash flow −$86.5MFY2023: Net borrowing $14.6MFY2023: Shares issued $120M$134MFY2023FY2024: Operating cash flow −$105MFY2024: Shares issued $14.5MFY2024: Capital spending −$28K$14.5MFY2024FY2025: Operating cash flow −$138MFY2025: Net borrowing $32.4MFY2025: Shares issued $197M$230MFY2025
Over these 5 years operating cash flow totalled −$446M; the largest uses were operating cash flow ($446M) and capital spending ($224K). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$189M
Debtnone
Net cash$189M
Due within a year$15.0M
Cash runway14 months

Verastem is burning cash: its operations consume cash, a free cash flow of −$160M a year at the current rate against $189M of cash and investments: a runway of about 14 months; $15.0M of debt also comes due within a year, which the cash covers before any new financing.

Verastem: debt maturities by year (FY2024)Verastem: debt maturities by year (FY2024)$15.0MYear 1$20.0MYear 2$5.0MYear 3
Principal due in each year as disclosed in the annual report, against $189M of cash and investments now.

Where the cash came from and went

Verastem: sources (+) and uses (−) of cash, Q3 2026Verastem: sources (+) and uses (−) of cash, Q3 2026Other financing$77.3MCash drawn (+) / kept (−)−$36.4MOperating cash flow−$33.6MOther investing−$7.5MShares issued$201K
Verastem: sources (+) and uses (−) of cash, TTM to Q3 2026Verastem: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow−$160MShares issued$126MNet borrowing (+) / repaid (−)$50.0MCash drawn (+) / kept (−)−$35.1MOther financing$27.3MOther investing−$8.6M

From profit to cash

Verastem: net income to operating cash flow, Q3 2026Verastem: net income to operating cash flow, Q3 2026Net income−$74.7MStock-based pay$3.7MReceivables$19.0MInventory$145KPayables$2.2MAccrued liabilities$24.0MPrepaid and other assets−$6.3MOperating cash flow−$33.6M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026−$33.6M—$201K−$36.4M−$33.6M
Q2 2026−$43.9M—$26K$29.2M−$43.9M
Q1 2026−$52.1M—$42K$39.4M−$52.1M
Q4 2025−$30.0M$1K$96.9M−$67.3M−$30.0M
Q3 2025−$36.2M—$74K$26.6M−$36.2M
Q2 2025−$32.7M—$69.9M−$46.8M−$32.7M
Q1 2025−$38.7M$32.4M$30.2M−$28.8M−$38.7M
Q4 2024−$25.1M——$24.4M−$25.1M

Verastem: income statement and cash flow

Verastem, Q3 2026: revenue $24.0M (+114% year over year), operating margin -313.3%. The chart follows the revenue to costs, profit and cash.

Verastem: 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.