Cullinan Therapeutics, Inc. (CGEM) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | -46.05M | -38.11M | -36.88M | -57.61M | -43.16M | -36.63M | -34.14M | -36.29M | -38.25M | -18.13M | -34.14M | -31.01M | -51M | -24.98M | -54.35M | -25.42M | -21.91M | -15.17M | -10.55M | -16.2M |
| Operating CF Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Operating CF Growth % | -6.7% | -4.05% | -8.02% | -58.74% | -12.83% | -102.01% | 0.01% | -17.05% | 25% | 27.43% | 37.19% | -21.97% | -132.78% | -64.68% | -415.15% | -56.95% | -1346.07% | -60.78% | -16.32% | -159.14% |
| Net Income | -49.66M | -50.71M | -50.61M | -70.06M | -48.5M | -47.65M | -40.56M | -42.03M | -37.15M | -23.8M | -39.18M | -32.21M | -58.14M | -26.78M | -24.8M | 174.9M | -12.89M | -32.51M | -17.35M | -16.44M |
| Depreciation & Amortization | 79K | 79K | 79K | 77K | 76K | 77K | 76K | 77K | 76K | 77K | 80K | 81K | 72K | 59K | 9K | 12K | 13K | 12K | 13K | 13K |
| Stock-Based Compensation | 0 | 7.31M | 9.47M | 9.89M | 9.37M | 9.63M | 9.43M | 10.53M | 8.23M | 7.52M | 7.74M | 7.92M | 7.26M | 0 | 0 | 8.61M | 6.57M | 0 | 0 | 4.17M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -6.13M | 607K | 0 | 0 | 0 | 0 | 0 | -19.57M | 0 | 0 | 0 |
| Other Non-Cash Items | 6.84M | -931K | -1.36M | -1.71M | -2.31M | -3.51M | -4.93M | -3.73M | -3.5M | 897K | -3.2M | -2.15M | -1.37M | 6.75M | 5.36M | -213.72M | 946K | 11.58M | 4.57M | 885K |
| Working Capital Changes | -3.3M | 6.14M | 5.54M | 4.19M | -1.79M | 4.82M | 1.84M | -1.15M | -5.9M | 3.31M | -181K | -4.65M | 1.18M | -5.01M | -34.91M | 4.78M | 3.03M | 5.75M | 2.21M | -4.82M |
| Change in Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 1.67M | -879K | -739K | -941K | 1.72M | -434K | 560K | -2.15M | 1.21M | 1.54M | -1.54M | 461K | -630K | 1.15M | -1.58M | 0 | 3.14M | 1.15M | 515K | -2.37M |
| Cash from Investing | 32.41M | 22.39M | 67.39M | 53.4M | 36.8M | 15.96M | 19.88M | -185.11M | 12.96M | 51.47M | -42.96M | 12.11M | 15.18M | -28.61M | -57.98M | 300.85M | 34.71M | -15.86M | -25.59M | -154.59M |
| Capital Expenditures | 0 | -11K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -49K | -159K | -882K | -251K | 0 | 0 | 0 | 0 | 0 |
| CapEx % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 275.09M | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | -38K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -275M | 5M | 300.85M | 0 | 0 | 0 | 0 |
| Cash from Financing | 380K | 715K | 0 | 373K | 0 | 1.58M | 1.32M | 262.2M | 1.08M | 248K | 112K | 38.6M | 1.79M | -32.91M | 1.43M | 2.01M | 3.54M | 2.7M | 579K | 923K |
| Debt Issued (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.82M | -2.2M | 0 | 0 | 800K | 0 | 0 | 0 |
| Equity Issued (Net) | 380K | 715K | 0 | 0 | 0 | 1.58M | 1.98M | 265.99M | 1.08M | 248K | 290K | 38.39M | 0 | 2.57M | 1.43M | 0 | 0 | 2.7M | 579K | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 0 | 0 | 0 | 373K | 0 | 0 | -656K | -3.79M | 0 | 0 | -178K | 214K | -36K | -33.28M | 0 | 2.01M | 2.74M | 0 | 0 | 923K |
| Net Change in Cash | -13.25M | -15M | 30.52M | -3.83M | -6.35M | -19.08M | -12.94M | 40.79M | -24.21M | 33.59M | -76.99M | 19.71M | -34.02M | -86.5M | -110.91M | 277.44M | 16.34M | -28.33M | -35.56M | -169.87M |
| Free Cash Flow | -46.05M | -38.12M | -36.91M | -57.61M | -43.16M | -36.63M | -34.14M | -36.29M | -38.25M | -18.13M | -34.14M | -31.05M | -51.16M | -25.86M | -54.6M | -25.42M | -21.91M | -15.17M | -10.55M | -16.2M |
| FCF Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| FCF Growth % | -6.7% | -4.08% | -8.13% | -58.74% | -12.83% | -102.01% | 0.01% | -16.86% | 25.23% | 29.9% | 37.48% | -22.17% | -133.5% | -70.49% | -417.52% | -56.95% | -1346.07% | -60.79% | -16.26% | -158.97% |
| FCF per Share | -0.78 | -0.64 | -0.63 | -0.98 | -0.73 | -0.63 | -0.59 | -0.66 | -0.89 | -0.42 | -0.80 | -0.78 | -1.26 | -0.57 | -1.20 | -0.55 | -0.49 | -0.35 | -0.24 | -0.37 |
| FCF Conversion (FCF/Net Income) | 0.93x | 0.75x | 0.73x | 0.82x | 0.89x | 0.77x | 0.84x | 0.86x | 1.03x | 0.76x | 0.87x | 0.96x | 0.88x | 0.93x | 2.19x | -0.15x | 1.81x | 0.47x | 0.61x | 1.04x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 75K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |