LENZ Therapeutics (LENZ) financial statements
LENZ Therapeutics reported revenue of $19M in fiscal 2025.
Net income was -$82M.
Free cash flow was -$70M.
The diluted share count rose 1161% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from LENZ Therapeutics's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | $0 | $19M |
| Cost of revenue | — | — | — | — | $0 | $418,000 |
| Gross profit | — | — | — | — | $0 | $19M |
| Research and development | $9M | $38M | $73M | $60M | $30M | $19M |
| Selling, general and admin | $4M | $23M | $33M | $13M | $29M | $91M |
| Operating income | -$14M | -$60M | -$106M | -$72M | -$59M | -$91M |
| Pre-tax income | — | — | — | -$70M | -$50M | -$82M |
| Income tax | $0 | $0 | $0 | -$179,000 | $1,000 | $502,000 |
| Net income | -$68M | -$71M | -$101M | -$70M | -$50M | -$82M |
| EPS (diluted) | -$29.93 | -$2.45 | -$1.84 | -$35.71 | -$2.34 | -$2.85 |
| Diluted shares | 2M | 29M | 55M | 2M | 21M | 29M |
| Gross margin | — | — | — | — | — | 97.8% |
| Operating margin | — | — | — | — | — | -477.5% |
| Net margin | — | — | — | — | — | -430.3% |
Balance sheet
Fiscal years, from LENZ Therapeutics's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Cash and short-term investments | $20M | $377M | $284M | $184M | $209M | $292M |
| Receivables | — | — | — | — | $0 | $329,000 |
| Inventory | — | — | — | — | $0 | $3M |
| Total current assets | $21M | $382M | $275M | $67M | $212M | $301M |
| Property, plant and equipment | $1M | $7M | $23M | $54,000 | $651,000 | $1M |
| Total assets | $23M | $402M | $322M | $70M | $215M | $306M |
| Total current liabilities | $32M | $12M | $13M | $19M | $10M | $21M |
| Total liabilities | $32M | $18M | $26M | $20M | $11M | $22M |
| Shareholders' equity | -$65M | $384M | -$24M | -$93M | $204M | $284M |
| Net debt | -$20M | -$377M | -$48M | -$35M | -$20M | -$25M |
Cash flow
Fiscal years, from LENZ Therapeutics's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$9M | -$53M | -$88M | -$60M | -$59M | -$69M |
| Capital spending | $2M | $6M | $7M | $30,000 | $468,000 | $827,000 |
| Free cash flow | -$10M | -$59M | -$95M | -$60M | -$60M | -$70M |
| Stock-based compensation | $177,000 | $8M | $14M | $1M | $6M | $13M |
| Free cash flow margin | — | — | — | — | — | -366.7% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for LENZ.
Open LENZ in InvestinglyQuestions
What was LENZ Therapeutics's revenue in 2025?
$19M in fiscal 2025, from its 10-K filing.
How much free cash flow does LENZ Therapeutics generate?
-$70M in fiscal 2025 (operating cash flow minus capital spending).
From LENZ Therapeutics's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.