Geron (GERN) financial statements
Net income was -$84M.
Free cash flow was -$111M.
The diluted share count rose 319% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Geron's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6M | $1M | $1M | $460,000 | $253,000 | $1M | $596,000 | $237,000 | — | — |
| Research and development | $18M | $11M | $13M | $52M | $51M | $86M | $96M | $125M | $104M | $71M |
| Selling, general and admin | $19M | $19M | $19M | $21M | $26M | $30M | $44M | $69M | $146M | $159M |
| Operating income | -$31M | -$29M | -$31M | -$73M | -$77M | -$114M | -$139M | -$194M | -$174M | -$69M |
| Interest expense | — | — | — | — | $760,000 | $4M | $7M | $8M | $19M | $33M |
| Pre-tax income | — | — | — | — | — | — | -$142M | -$182M | -$175M | -$83M |
| Income tax | — | — | — | — | — | — | — | $22,000 | $449,000 | $75,000 |
| Net income | -$30M | -$28M | -$27M | -$69M | -$76M | -$116M | -$142M | -$184M | -$175M | -$84M |
| EPS (diluted) | -$0.19 | -$0.18 | -$0.15 | -$0.36 | -$0.28 | -$0.35 | -$0.37 | -$0.32 | -$0.27 | -$0.13 |
| Diluted shares | 159M | 159M | 177M | 190M | 271M | 328M | 381M | 571M | 646M | 667M |
| Operating margin | -497.3% | -2746.9% | -2914.9% | -15762.0% | -30400.4% | -8183.7% | -23246.6% | -81832.9% | — | — |
| Net margin | -479.3% | -2621.2% | -2534.4% | -14901.7% | -29888.1% | -8335.4% | -23808.9% | -77690.7% | — | — |
Balance sheet
Fiscal years, from Geron's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $115M | $95M | $163M | $139M | $196M | $184M | $173M | $334M | $407M | $78M |
| Receivables | — | — | — | — | — | — | — | — | $36M | $37M |
| Inventory | — | — | — | — | — | — | — | — | $39M | $117M |
| Total current assets | $116M | $96M | $166M | $142M | $200M | $187M | $180M | $341M | $491M | $520M |
| Property, plant and equipment | $183,000 | $102,000 | $59,000 | $408,000 | $658,000 | $650,000 | $793,000 | $1M | $1M | $884,000 |
| Total assets | $130M | $110M | $185M | $166M | $271M | $226M | $191M | $394M | $594M | $571M |
| Total current liabilities | $8M | $7M | $8M | $28M | $31M | $46M | $77M | $108M | $88M | $112M |
| Long-term debt | — | — | — | — | $24M | $50M | $30M | $35M | $118M | $120M |
| Total liabilities | $8M | $7M | $8M | $30M | $60M | $100M | $111M | $146M | $313M | $345M |
| Shareholders' equity | $122M | $104M | $178M | $135M | $211M | $126M | $80M | $248M | $280M | $226M |
| Net debt | -$13M | -$16M | -$11M | -$14M | $14M | $15M | -$6M | $12M | $39M | $42M |
Cash flow
Fiscal years, from Geron's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$18M | -$21M | -$21M | -$44M | -$67M | -$96M | -$127M | -$168M | -$219M | -$111M |
| Capital spending | $57,000 | — | $16,000 | $413,000 | $401,000 | $207,000 | $431,000 | $830,000 | $680,000 | $49,000 |
| Free cash flow | -$18M | — | -$21M | -$44M | -$67M | -$96M | -$128M | -$169M | -$219M | -$111M |
| Stock-based compensation | $8M | $8M | $6M | $6M | $7M | $8M | $8M | $19M | $31M | $27M |
| Net borrowing | — | — | — | — | $24M | $25M | — | $30M | $35M | $0 |
| Free cash flow margin | -299.0% | — | -1972.3% | -9617.8% | -26503.2% | -6874.6% | -21444.6% | -71127.8% | — | — |
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Open GERN in InvestinglyQuestions
How much free cash flow does Geron generate?
-$111M in fiscal 2025 (operating cash flow minus capital spending).
From Geron's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.