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May 12, 2026·SEC
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Mar 5, 2026·SEC
Lineage Cell Therapeutics, Inc.(LCTX)Earnings, Financials & Key Ratios
LCTX•AMEX
$1.32
Price updated Jul 7, 2026
AboutLineage Cell Therapeutics, Inc., a clinical-stage biotechnology company, develops novel cell therapies for the treatment of degenerative diseases in the United States and internationally. The company develops OpRegen, a retinal pigment epithelium cell replacement therapy, which is in Phase I/IIa clinical trial for the treatment of the dry age-related macular degeneration; OPC1, an oligodendrocyte progenitor cell therapy that is in Phase I/IIa multicenter clinical trial for the treatment of acute spinal cord injuries; and VAC2, an allogeneic cancer immunotherapy of antigen-presenting dendritic cells, which is in Phase I clinical trial to treat non-small cell lung cancer. It also offers Renevia, a facial aesthetics product. In addition, the company engages in the research and development of therapeutic products for retinal diseases, neurological diseases, and disorders and oncology. Lineage Cell Therapeutics, Inc. has a collaboration with Orbit Biomedical, Ltd. The company was formerly known as BioTime, Inc. and changed its name to Lineage Cell Therapeutics, Inc. in August 2019. Lineage Cell Therapeutics, Inc. was incorporated in 1990 and is headquartered in Carlsbad, California.Show more
- Revenue$15M+53.2%
- EBITDA-$21M-1.0%
- Net Income-$64M-241.4%
- EPS (Diluted)-0.28-201.1%
- Gross Margin94.19%-2.4%
- EBITDA Margin-144.82%+34.1%
- Operating Margin-149.62%+33.8%
- Net Margin-436.47%-122.8%
- ROE-105.57%-294.4%
LCTX Price & Volume
Lineage Cell Therapeutics, Inc. (LCTX) stock price & volume — 10-year historical chart
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Milestone Dependence Masks Persistent Clinical Cash Burn
Investment Thesis • Updated 2026Q1
VerdictNegative
Growth:Mixed
Profitability:Negative
Financial:Vulnerable
Cash Flow:Burning
Primary Risk:Clinical milestone funding dependence
Key Thesis Takeaways
- Lineage Cell Therapeutics remains a high-risk, milestone-dependent biotechnology firm whose valuation is tethered to the success of its Roche/Genentech partnership rather than recurring commercial revenue.
- While the company maintains gross margins frequently exceeding 95%, its inability to achieve operational scale is evidenced by a 2024Q4 operating margin of -178.2%.
- Investors should monitor the company's $35.9 million cash position as of 2026Q1, as the lack of self-sustaining cash flow necessitates ongoing reliance on external capital to fund its specialized cell therapy pipeline.
Verdict Logic
the company's reliance on lumpy milestone revenue and its inability to generate positive free cash flow, evidenced by a $8.1 million cash outflow in 2026Q1, present significant risks to long-term shareholder value.
LCTX Growth Metrics
Lineage Cell Therapeutics, Inc. (LCTX) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years19.1%
5 Years79.88%
3 Years-0.33%
TTM54.64%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-296.19%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-240.02%
Return on Capital
10 Years-30.73%
5 Years-26.86%
3 Years-23.88%
Last Year-21.73%
LCTX Recent Earnings
Lineage Cell Therapeutics, Inc. (LCTX) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 4/12 qtrs (33%)●Beat Revenue 10/12 qtrs (83%)
Q2 2026Latest
May 12, 2026Metric
Actual
Est
EPS
$0.03-50.0%
$0.02
Rev
$2M-52.1%
$4M
Q2 2026
Mar 5, 2026Metric
Actual
Est
EPS
$0.00+109.2%
$0.04
Rev
$7M+236.8%
$2M
Q4 2025
Nov 6, 2025Metric
Actual
Est
EPS
$0.13-550.0%
$0.02
Rev
$4M+87.8%
$2M
Q3 2025
Aug 12, 2025Metric
Actual
Est
EPS
$0.01+50.0%
$0.02
Rev
$3M+46.4%
$2M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 12, 2026 | $0.03vs $0.02-50.0% | $2Mvs $4M-52.1% |
| Q2 2026 | Mar 5, 2026 | $0.00vs $0.04+109.2% | $7Mvs $2M+236.8% |
| Q4 2025 | Nov 6, 2025 | $0.13vs $0.02-550.0% | $4Mvs $2M+87.8% |
| Q3 2025 | Aug 12, 2025 | $0.01vs $0.02+50.0% | $3Mvs $2M+46.4% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for Lineage Cell Therapeutics, Inc. (LCTX)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $1.32 | $329.07M | -4.71 | 53.24% | -436.47% | -105.57% | — | |
| $3.02 | $352.01M | -2.63 | -51.24% | -2056.79% | -58.89% | — | |
| $17.43 | $1.96B | -4.57 | 16.92% | -597.04% | -57.27% | — | |
| $37.92 | $3.9B | -46.81 | 120.01% | -49.17% | -5.89% | — | |
| $3.75 | $367.15M | -2.08 | 25.39% | -281.59% | -677.39% | — | |
| $60.77 | $5.86B | -9.39 | -89.97% | -13856.54% | -30.88% | — |
Compare LCTX vs Peers
Lineage Cell Therapeutics, Inc. (LCTX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
LCTX SEC Filings & Documents
Lineage Cell Therapeutics, Inc. (LCTX) SEC filings — annual & quarterly reports (10-K, 10-Q)
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LCTX Frequently Asked Questions
Lineage Cell Therapeutics, Inc. (LCTX) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Lineage Cell Therapeutics, Inc.'s revenue?
Lineage Cell Therapeutics, Inc. (LCTX) reported $14.8M in revenue for fiscal year 2025. This represents a 14679% increase from $0.1M in 1996.
How fast is Lineage Cell Therapeutics, Inc. growing?
Lineage Cell Therapeutics, Inc. (LCTX) grew revenue by 53.2% over the past year. This is strong growth.
Is LCTX profitable?
Lineage Cell Therapeutics, Inc. (LCTX) reported a net loss of $64.2M for fiscal year 2025.
Dividend & Returns
What is LCTX's return on equity?
Lineage Cell Therapeutics, Inc. (LCTX) has a return on equity (ROE) of -105.6%. Negative ROE indicates the company is unprofitable.
What is Lineage Cell Therapeutics, Inc.'s free cash flow?
Lineage Cell Therapeutics, Inc. (LCTX) had negative free cash flow of $22.3M in fiscal year 2025, likely due to heavy capital investments.