Trading of LENZ Therapeutics was halted at 09:33 AM EST due to "LULD Pause".

LENZ Therapeutics (LENZ) Financials

$7.82 -2.17 (-21.67%)

As of 03:05 PM Eastern

Annual Income Statements for LENZ Therapeutics

This table shows LENZ Therapeutics' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-68	-71	-101	-70	-50
Consolidated Net Income / (Loss)	-68	-71	-101	-70	-50
Net Income / (Loss) Continuing Operations	-68	-71	-101	-70	-50
Total Pre-Tax Income	-68	-71	-101	-70	-50
Total Operating Income	-14	-60	-106	-72	-59
Total Gross Profit	0.00	0.00	0.00	0.00	0.00
Total Revenue	0.00	0.00	0.00	0.00	0.00
Total Cost of Revenue	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	14	60	106	72	59
Selling, General & Admin Expense	4.38	23	33	13	29
Research & Development Expense	9.12	38	73	60	30
Total Other Income / (Expense), net	-55	-10	4.59	2.28	8.84
Interest & Investment Income	-	-	-	2.19	8.55
Other Income / (Expense), net	-55	-10	4.59	0.09	0.29
Income Tax Expense	-	-	-	-0.18	0.00
Basic Earnings per Share	($29.93)	($2.45)	($1.84)	($35.71)	($2.34)
Weighted Average Basic Shares Outstanding	2.28M	28.92M	54.87M	1.96M	21.28M
Diluted Earnings per Share	($29.93)	($2.45)	($1.84)	($35.71)	($2.34)
Weighted Average Diluted Shares Outstanding	2.28M	28.92M	54.87M	1.96M	21.28M
Weighted Average Basic & Diluted Shares Outstanding	2.28M	28.92M	58.16M	58.24M	27.54M

This table shows LENZ Therapeutics' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025
Net Income / (Loss) Attributable to Common Shareholders	-13	-15	-19	-24	-17	-10	-10	-13	-15	-15	-17
Consolidated Net Income / (Loss)	-13	-15	-19	-24	-17	-10	-10	-13	-15	-15	-17
Net Income / (Loss) Continuing Operations	-13	-15	-19	-24	-17	-10	-10	-13	-15	-15	-17
Total Pre-Tax Income	-13	-15	-19	-24	-17	-10	-10	-13	-15	-14	-17
Total Operating Income	-13	-15	-20	-25	-16	-14	-13	-15	-17	-17	-19
Total Gross Profit	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00	5.00	13
Total Revenue	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00	5.00	13
Operating Revenue	-	-	-	-	-	0.00	0.00	-	-	5.00	13
Total Cost of Revenue	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00
Total Operating Expenses	13	15	20	25	16	14	13	15	17	22	31
Selling, General & Admin Expense	2.29	2.32	2.86	5.45	5.55	7.41	6.49	9.36	11	13	28
Research & Development Expense	10	13	17	20	11	6.95	6.45	5.87	5.82	9.06	3.79
Total Other Income / (Expense), net	-0.05	0.23	0.99	1.12	-0.56	4.10	2.73	2.57	2.31	2.45	2.19
Interest & Investment Income	0.00	0.25	1.09	0.85	0.79	2.46	2.74	2.57	2.32	2.25	2.20
Other Income / (Expense), net	-0.05	-0.02	-0.10	0.27	-1.35	1.64	-0.01	0.01	-0.01	0.20	-0.01
Income Tax Expense	-	-	-	-	-	0.00	0.00	-	-	0.50	0.00
Basic Earnings per Share	($6.50)	($7.53)	($9.62)	($12.06)	($3.53)	($0.40)	($0.38)	$1.97	($0.53)	($0.53)	($0.59)
Weighted Average Basic Shares Outstanding	1.95M	1.96M	1.96M	1.96M	4.72M	25.61M	27.17M	21.28M	27.53M	28.08M	28.54M
Diluted Earnings per Share	($6.50)	($7.53)	($9.62)	($12.06)	($3.53)	($0.40)	($0.38)	$1.97	($0.53)	($0.53)	($0.59)
Weighted Average Diluted Shares Outstanding	1.95M	1.96M	1.96M	1.96M	4.72M	25.61M	27.17M	21.28M	27.53M	28.08M	28.54M
Weighted Average Basic & Diluted Shares Outstanding	58.10M	57.98M	58.00M	58.24M	25.53M	27.50M	27.50M	27.54M	28.15M	28.52M	31.29M

This table details how cash moves in and out of LENZ Therapeutics' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	20	359	-329	-9.30	-15
Net Cash From Operating Activities	-8.72	-53	-88	-60	-59
Net Cash From Continuing Operating Activities	-8.72	-53	-88	-60	-59
Net Income / (Loss) Continuing Operations	-68	-71	-101	-70	-50
Consolidated Net Income / (Loss)	-68	-71	-101	-70	-50
Depreciation Expense	0.12	0.73	2.35	0.02	0.06
Amortization Expense	-	0.00	-1.60	-1.06	-4.02
Non-Cash Adjustments To Reconcile Net Income	60	19	20	1.41	7.43
Changes in Operating Assets and Liabilities, net	-0.06	-1.37	-7.30	9.41	-13
Net Cash From Investing Activities	-1.55	-5.74	-242	-30	-154
Net Cash From Continuing Investing Activities	-1.55	-5.74	-242	-30	-154
Purchase of Property, Plant & Equipment	-1.55	-5.74	-6.59	-0.03	-0.47
Purchase of Investments	-	0.00	-406	-52	-242
Sale and/or Maturity of Investments	-	0.00	170	23	88
Net Cash From Financing Activities	30	417	0.60	81	199
Net Cash From Continuing Financing Activities	30	417	0.60	81	199
Repurchase of Common Equity	-	-	-0.08	-2.48	0.00
Issuance of Preferred Equity	25	166	-	83	0.00
Issuance of Common Equity	0.26	252	0.66	0.00	80
Other Financing Activities, net	0.00	0.03	0.02	0.20	119

This table details how cash moves in and out of LENZ Therapeutics' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025
Net Change in Cash & Equivalents	70	-40	-32	-7.71	165	-116	-43	-21	2.88	15	-12
Net Cash From Operating Activities	-13	-14	-13	-21	-24	-16	-11	-9.08	-16	-12	-8.59
Net Cash From Continuing Operating Activities	-13	-14	-13	-21	-24	-16	-11	-9.08	-16	-12	-8.51
Net Income / (Loss) Continuing Operations	-13	-15	-19	-24	-17	-10	-10	-13	-15	-15	-17
Consolidated Net Income / (Loss)	-13	-15	-19	-24	-17	-10	-10	-13	-15	-15	-17
Depreciation Expense	0.00	0.00	0.00	0.00	0.01	0.02	0.01	0.03	0.04	0.02	0.13
Amortization Expense	0.00	-0.02	-0.53	-0.51	-0.28	-0.96	-1.36	-1.42	-1.13	-0.89	-0.78
Non-Cash Adjustments To Reconcile Net Income	0.16	0.21	0.60	0.44	1.99	1.60	2.19	1.65	2.56	2.85	3.55
Changes in Operating Assets and Liabilities, net	-0.29	1.00	5.72	2.98	-9.01	-6.20	-1.21	3.33	-2.97	1.43	5.30
Net Cash From Investing Activities	-0.01	-27	-18	15	18	-98	-62	-12	19	-0.41	-4.33
Net Cash From Continuing Investing Activities	-0.01	-27	-18	15	18	-98	-62	-12	19	-0.41	-4.33
Purchase of Property, Plant & Equipment	-0.01	-0.02	-	-	0.00	-0.13	-0.19	-0.15	-0.11	-0.24	-0.44
Purchase of Investments	-	-	-19	-5.83	0.00	-	-84	-47	-33	-58	-56
Sale and/or Maturity of Investments	0.00	-	1.50	21	18	13	22	35	52	58	52
Net Cash From Financing Activities	83	-	-0.57	-1.91	171	-2.14	30	0.05	0.04	26	0.60
Net Cash From Continuing Financing Activities	83	-	-0.57	-1.91	171	-2.14	30	0.05	0.04	26	0.60
Other Financing Activities, net	0.20	-	-	-	118	1.43	0.04	0.14	0.04	0.20	0.60

This table presents LENZ Therapeutics' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	23	402	322	70	215
Total Current Assets	21	382	275	67	212
Cash & Equivalents	20	377	48	35	20
Restricted Cash	0.04	-	0.00	0.00	0.11
Short-Term Investments	-	0.00	220	31	189
Inventories, net	-	-	-	-	0.00
Prepaid Expenses	1.29	4.76	7.14	1.45	2.77
Plant, Property, & Equipment, net	1.46	6.51	23	0.05	0.65
Total Noncurrent Assets	0.00	14	24	3.08	2.74
Other Noncurrent Operating Assets	0.00	14	8.59	3.08	2.74
Total Liabilities & Shareholders' Equity	23	402	322	70	215
Total Liabilities	32	18	26	20	11
Total Current Liabilities	32	12	13	19	10
Accounts Payable	0.63	2.45	2.61	5.71	4.26
Accrued Expenses	1.89	1.52	2.59	13	6.15
Total Noncurrent Liabilities	0.32	5.79	13	1.18	0.81
Other Noncurrent Operating Liabilities	0.32	5.79	13	1.18	0.81
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-65	384	296	-93	204
Total Preferred & Common Equity	-65	384	296	-93	204
Total Common Equity	-65	384	296	-93	204
Common Stock	5.18	525	540	2.53	349
Retained Earnings	-71	-141	-242	-95	-145
Accumulated Other Comprehensive Income / (Loss)	-	0.00	-1.05	0.01	0.20

This table presents LENZ Therapeutics' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2022	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	6/30/2022	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025
Total Assets	354	335	310	287	266	217	203	224	201	217	211
Total Current Assets	327	298	270	251	239	217	199	221	198	214	207
Cash & Equivalents	75	56	70	129	183	200	84	41	23	38	25
Restricted Cash	-	-	-	-	-	0.11	0.11	0.11	0.11	0.11	0.00
Short-Term Investments	247	235	194	118	51	13	112	176	171	172	177
Inventories, net	-	-	-	-	-	-	-	-	-	-	0.95
Prepaid Expenses	4.35	6.81	6.21	2.88	4.78	3.28	3.12	3.48	3.77	3.97	3.88
Plant, Property, & Equipment, net	10	13	33	18	13	0.05	0.16	0.37	0.93	1.17	1.26
Total Noncurrent Assets	17	23	6.62	18	15	0.60	3.13	2.93	2.47	2.56	2.45
Other Noncurrent Operating Assets	11	9.68	6.62	18	15	0.60	3.13	2.93	2.47	2.56	2.45
Total Liabilities & Shareholders' Equity	354	335	310	287	266	217	203	224	201	217	211
Total Liabilities	15	18	34	63	62	19	9.72	8.73	9.24	11	17
Total Current Liabilities	12	14	14	12	13	19	8.58	7.71	8.57	10	16
Accounts Payable	3.62	3.97	1.99	2.72	3.75	7.13	4.41	2.76	3.66	2.85	4.32
Accrued Expenses	1.34	1.65	7.91	4.37	3.45	12	4.18	4.95	4.91	7.54	12
Total Noncurrent Liabilities	3.26	4.87	19	51	50	0.27	1.14	1.02	0.67	0.57	0.46
Other Noncurrent Operating Liabilities	3.26	4.87	19	51	50	0.27	1.14	1.02	0.67	0.57	0.46
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	338	316	276	224	204	198	193	215	192	206	194
Total Preferred & Common Equity	338	316	276	224	204	198	193	215	192	206	194
Total Common Equity	338	316	276	224	204	198	193	215	192	206	194
Common Stock	533	536	543	546	548	310	315	347	352	381	385
Retained Earnings	-193	-218	-266	-322	-344	-112	-122	-132	-160	-175	-191
Accumulated Other Comprehensive Income / (Loss)	-1.03	-1.60	-0.47	-0.27	-0.10	-0.00	-0.06	0.52	0.12	0.04	0.23

This table displays calculated financial ratios and metrics derived from LENZ Therapeutics' official financial filings.

Metric	2020	2021	2022	2023	2024
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-
Revenue Growth	0.00%	0.00%	0.00%	0.00%	0.00%
EBITDA Growth	0.00%	-2.66%	-43.23%	26.84%	15.12%
EBIT Growth	0.00%	-3.55%	-42.81%	28.42%	19.37%
NOPAT Growth	0.00%	-347.73%	-74.77%	31.44%	19.08%
Net Income Growth	0.00%	-3.49%	-42.81%	30.76%	28.87%
EPS Growth	0.00%	91.81%	24.90%	-1,840.76%	93.45%
Operating Cash Flow Growth	0.00%	-506.03%	-66.46%	31.37%	1.64%
Free Cash Flow Firm Growth	0.00%	0.00%	-0.77%	71.31%	-123.61%
Invested Capital Growth	0.00%	123.88%	80.10%	-218.65%	66.53%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%
EBITDA Q/Q Growth	0.00%	0.00%	-6.72%	-0.43%	47.32%
EBIT Q/Q Growth	0.00%	0.00%	-5.81%	-0.34%	51.46%
NOPAT Q/Q Growth	0.00%	0.00%	-7.98%	2.38%	55.31%
Net Income Q/Q Growth	0.00%	0.00%	-33.54%	1.28%	56.51%
EPS Q/Q Growth	0.00%	0.00%	-132.74%	-48.30%	-113.64%
Operating Cash Flow Q/Q Growth	0.00%	-24.27%	-8.42%	2.36%	41.14%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	-115.89%	57.37%
Invested Capital Q/Q Growth	0.00%	0.00%	12.10%	49.59%	-160.69%
Profitability Metrics	-	-	-	-	-
Gross Margin	0.00%	0.00%	0.00%	0.00%	0.00%
EBITDA Margin	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Margin	0.00%	0.00%	0.00%	0.00%	0.00%
EBIT Margin	0.00%	0.00%	0.00%	0.00%	0.00%
Profit (Net Income) Margin	0.00%	0.00%	0.00%	0.00%	0.00%
Tax Burden Percent	100.00%	100.00%	100.00%	99.74%	100.00%
Interest Burden Percent	100.06%	100.00%	100.00%	96.97%	85.33%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	697.68%	-37.81%	-29.71%	-40.33%	-39.07%
Cash Return on Invested Capital (CROIC)	0.00%	-1,116.78%	-803.61%	0.00%	0.00%
Operating Return on Assets (OROA)	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Assets (ROA)	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Common Equity (ROCE)	4,656.54%	-32.20%	-29.71%	-23.66%	-17.08%
Return on Equity Simple (ROE_SIMPLE)	104.53%	-18.42%	-34.11%	75.47%	-24.39%
Net Operating Profit after Tax (NOPAT)	-9.45	-42	-74	-51	-41
NOPAT Margin	0.00%	0.00%	0.00%	0.00%	0.00%
Net Nonoperating Expense Percent (NNEP)	-297.34%	-14.34%	-8.21%	-11.03%	-6.36%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	54.69%	-20.10%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings before Interest and Taxes (EBIT)	-68	-71	-101	-72	-58
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-68	-70	-100	-73	-62
Valuation Ratios	-	-	-	-	-
Price to Book Value (P/BV)	0.00	1.88	0.65	0.00	3.89
Price to Tangible Book Value (P/TBV)	0.00	1.88	0.65	0.00	3.89
Price to Revenue (P/Rev)	0.00	0.00	0.00	0.00	0.00
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	48.76	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00
Financial Leverage	2.02	-1.06	-0.97	-1.01	-1.08
Leverage Ratio	-2.30	1.13	1.06	1.13	1.12
Compound Leverage Factor	-2.30	1.13	1.06	1.10	0.96
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	-567.43%	0.00%	0.00%	282.94%	0.00%
Common Equity to Total Capital	667.43%	100.00%	100.00%	-182.94%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	-11.32	24.18	3.41	0.17	41.74
Noncontrolling Interest Sharing Ratio	-567.43%	14.86%	0.00%	41.33%	56.28%
Liquidity Ratios	-	-	-	-	-
Current Ratio	0.66	31.44	21.11	3.63	20.36
Quick Ratio	0.62	31.04	20.57	3.55	20.09
Cash Flow Metrics	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-79	-80	-23	-51
Operating Cash Flow to CapEx	-564.47%	-920.77%	-1,334.24%	-201,266.67%	-12,690.38%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	-218.03	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-256.65	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-
Asset Turnover	0.00	0.00	0.00	0.00	0.00
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-
Invested Capital	-30	7.07	13	-15	-5.06
Invested Capital Turnover	0.00	0.00	0.00	0.00	0.00
Increase / (Decrease) in Invested Capital	0.00	37	5.67	-28	10
Enterprise Value (EV)	232	345	-90	230	585
Market Capitalization	196	722	193	152	794
Book Value per Share	($28.64)	$6.61	$5.10	($1.60)	$7.42
Tangible Book Value per Share	($28.64)	$6.61	$5.10	($1.60)	$7.42
Total Capital	-9.80	384	296	51	204
Total Debt	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00
Net Debt	-20	-377	-284	-66	-209
Capital Expenditures (CapEx)	1.55	5.74	6.59	0.03	0.47
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-31	-7.38	-5.91	-17	-7.63
Debt-free Net Working Capital (DFNWC)	-11	370	262	49	202
Net Working Capital (NWC)	-11	370	262	49	202
Net Nonoperating Expense (NNE)	59	28	27	19	8.74
Net Nonoperating Obligations (NNO)	-20	-377	-284	-66	-209
Total Depreciation and Amortization (D&A)	0.12	0.73	0.75	-1.04	-3.96
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%
Debt-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%
Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Adjustments	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($2.45)	($1.84)	($2.19)	($2.34)
Adjusted Weighted Average Basic Shares Outstanding	0.00	58.01M	54.87M	57.02M	21.28M
Adjusted Diluted Earnings per Share	$0.00	($2.45)	($1.84)	($2.19)	($2.34)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	58.01M	54.87M	57.02M	21.28M
Adjusted Basic & Diluted Earnings per Share	$0.00	($2.45)	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	28.92M	58.16M	58.24M	27.54M
Normalized Net Operating Profit after Tax (NOPAT)	-9.45	-42	-74	-51	-41
Normalized NOPAT Margin	0.00%	0.00%	0.00%	0.00%	0.00%
Pre Tax Income Margin	0.00%	0.00%	0.00%	0.00%	0.00%
Debt Service Ratios	-	-	-	-	-
EBIT to Interest Expense	-1,708.33	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	-236.25	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-1,746.95	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-274.88	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	-0.08%	-3.54%	0.00%

This table displays calculated financial ratios and metrics derived from LENZ Therapeutics' official financial filings.

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EBITDA Growth	50.27%	40.79%	16.68%	-1.26%	-39.78%	8.90%	30.21%	34.14%	-1.89%	-28.33%	-36.75%
EBIT Growth	51.19%	42.25%	19.11%	-1.01%	-37.62%	15.09%	35.13%	38.45%	2.83%	-30.99%	-45.94%
NOPAT Growth	51.40%	44.13%	24.05%	6.59%	-27.52%	4.06%	34.84%	39.07%	-5.24%	-17.45%	-45.90%
Net Income Growth	50.96%	43.22%	23.51%	3.69%	-31.40%	30.37%	45.90%	46.60%	12.19%	-45.43%	-63.49%
EPS Growth	-1,254.17%	-1,468.75%	-2,037.78%	-2,704.65%	45.69%	94.69%	96.05%	116.34%	84.99%	-32.50%	-55.26%
Operating Cash Flow Growth	39.75%	38.79%	41.09%	6.51%	-87.04%	-16.79%	19.16%	56.71%	32.95%	27.14%	18.84%
Free Cash Flow Firm Growth	56.98%	174.89%	212.05%	142.49%	236.73%	-229.50%	-235.20%	-299.87%	-255.34%	61.68%	81.36%
Invested Capital Growth	31.97%	-337.29%	-363.85%	-218.65%	-225.54%	86.31%	93.53%	66.53%	86.34%	1.12%	-324.78%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	150.00%
EBITDA Q/Q Growth	49.16%	-18.35%	-36.67%	-23.14%	74.49%	22.86%	-4.70%	-16.20%	-8.57%	2.84%	-11.57%
EBIT Q/Q Growth	48.24%	-18.21%	-33.31%	-23.83%	76.60%	27.06%	-1.84%	-17.50%	-11.34%	1.68%	-13.47%
NOPAT Q/Q Growth	52.84%	-18.57%	-32.80%	-25.79%	80.52%	10.79%	9.80%	-17.61%	-11.21%	0.44%	-12.04%
Net Income Q/Q Growth	48.49%	-16.23%	-28.21%	-25.49%	77.47%	38.41%	0.38%	-23.86%	-15.55%	-2.00%	-11.99%
EPS Q/Q Growth	-1,411.63%	-15.85%	-27.76%	-25.36%	-128.86%	88.67%	5.00%	618.42%	-126.90%	0.00%	-11.32%
Operating Cash Flow Q/Q Growth	42.94%	-5.67%	3.22%	-60.22%	47.82%	34.01%	33.01%	14.20%	-76.79%	28.29%	25.37%
Free Cash Flow Firm Q/Q Growth	51.75%	302.66%	15.07%	-62.24%	153.72%	-291.94%	-20.13%	44.18%	-20.68%	52.65%	41.56%
Invested Capital Q/Q Growth	-4.80%	-299.10%	-24.19%	49.59%	-0.73%	78.29%	41.27%	-160.69%	58.89%	-57.12%	-152.30%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	100.00%	100.00%
EBITDA Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-350.54%	-156.44%
Operating Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-337.14%	-151.10%
EBIT Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-333.16%	-151.21%
Profit (Net Income) Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-298.24%	-133.60%
Tax Burden Percent	100.00%	100.00%	100.00%	99.25%	100.00%	100.00%	100.00%	100.01%	100.00%	103.47%	100.00%
Interest Burden Percent	100.00%	98.32%	94.56%	96.55%	95.48%	80.63%	78.87%	83.14%	86.29%	86.52%	88.36%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	-27.57%	-27.26%	-27.23%	-40.33%	-53.79%	-59.04%	-54.59%	-39.07%	-24.47%	-26.25%	-28.78%
Cash Return on Invested Capital (CROIC)	-633.70%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-7.93%	-12.17%
Return on Assets (ROA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-7.10%	-10.76%
Return on Common Equity (ROCE)	-27.57%	-27.26%	-27.23%	-23.66%	-53.79%	-59.04%	-54.59%	-17.08%	-24.47%	-26.25%	-28.78%
Return on Equity Simple (ROE_SIMPLE)	-31.82%	-34.21%	-34.74%	0.00%	-64.38%	-63.81%	-53.16%	0.00%	-24.86%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-8.83	-10	-14	-17	-11	-10	-9.06	-11	-12	-12	-13
NOPAT Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-236.00%	-105.77%
Net Nonoperating Expense Percent (NNEP)	-1.25%	-1.48%	-1.85%	-3.55%	-2.26%	-0.09%	-0.51%	-1.45%	-1.36%	-1.53%	-1.66%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	18.87%	-	-	-	-5.22%	-6.17%	-5.72%	-6.82%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	255.92%	220.77%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	181.22%	30.33%
Operating Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	437.14%	251.10%
Earnings before Interest and Taxes (EBIT)	-13	-15	-20	-25	-17	-13	-13	-15	-17	-17	-19
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-13	-15	-20	-25	-18	-14	-14	-17	-18	-18	-20
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.52	0.67	0.70	0.00	6.54	2.29	3.03	3.89	3.69	4.00	6.85
Price to Tangible Book Value (P/TBV)	0.52	0.67	0.70	0.00	6.54	2.29	3.03	3.89	3.69	4.00	6.85
Price to Revenue (P/Rev)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	164.99	75.92
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	123.07	64.37
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.97	-1.02	-1.04	-1.01	-1.01	-1.07	-1.08	-1.08	-1.04	-1.02	-1.02
Leverage Ratio	1.08	1.14	1.15	1.13	1.11	1.17	1.17	1.12	1.07	1.05	1.06
Compound Leverage Factor	1.08	1.12	1.09	1.09	1.06	0.95	0.92	0.93	0.93	0.91	0.94
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	282.94%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	-182.94%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	2.18	0.70	0.35	2.41	40.67	27.34	45.00	42.40	45.71	44.90	47.12
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	41.33%	0.00%	0.00%	0.00%	56.28%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	18.85	20.47	19.05	3.63	11.47	23.23	28.63	20.36	23.09	20.54	12.69
Quick Ratio	18.42	20.10	18.66	3.55	11.29	22.85	28.16	20.09	22.64	20.15	12.39
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-12	24	27	10	16	-31	-37	-21	-25	-12	-6.92
Operating Cash Flow to CapEx	-213,300.00%	-56,350.00%	0.00%	0.00%	0.00%	-11,875.94%	-5,688.71%	-6,092.62%	-14,590.00%	-4,795.00%	-1,956.26%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.02	0.08
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	7.50	21.47
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	12	-24	-30	-15	-15	-3.31	-1.94	-5.06	-2.08	-3.27	-8.25
Invested Capital Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-1.52	-3.44
Increase / (Decrease) in Invested Capital	2.94	-34	-41	-28	-27	21	28	10	13	0.04	-6.30
Enterprise Value (EV)	-122	-96	-90	230	1,082	245	436	585	514	615	1,126
Market Capitalization	143	151	144	152	1,295	441	653	794	708	825	1,329
Book Value per Share	$4.75	$3.86	$3.52	($1.60)	$42.01	$7.56	$7.83	$7.42	$6.97	$7.33	$6.80
Tangible Book Value per Share	$4.75	$3.86	$3.52	($1.60)	$42.01	$7.56	$7.83	$7.42	$6.97	$7.33	$6.80
Total Capital	276	224	204	51	198	193	215	204	192	206	194
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-264	-247	-234	-66	-213	-196	-217	-209	-194	-210	-202
Capital Expenditures (CapEx)	0.01	0.02	0.00	0.00	0.00	0.13	0.19	0.15	0.11	0.24	0.44
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-8.13	-7.76	-7.74	-17	-16	-5.46	-4.23	-7.63	-4.80	-6.43	-11
Debt-free Net Working Capital (DFNWC)	256	239	226	49	198	191	213	202	189	203	191
Net Working Capital (NWC)	256	239	226	49	198	191	213	202	189	203	191
Net Nonoperating Expense (NNE)	3.84	4.25	4.97	6.20	5.39	0.21	1.15	1.99	2.77	3.11	3.48
Net Nonoperating Obligations (NNO)	-264	-248	-234	-66	-213	-196	-217	-209	-194	-210	-202
Total Depreciation and Amortization (D&A)	0.00	-0.02	-0.52	-0.51	-0.27	-0.94	-1.35	-1.40	-1.10	-0.87	-0.65
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-128.58%	-65.66%
Debt-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	4,064.08%	1,089.61%
Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	4,064.08%	1,089.61%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.43)	($0.97)	($0.39)	($12.06)	($3.53)	($0.40)	($0.38)	$1.97	($0.53)	($0.53)	($0.59)
Adjusted Weighted Average Basic Shares Outstanding	55.86M	56.75M	57.26M	1.96M	4.72M	25.61M	27.17M	21.28M	27.53M	28.08M	28.54M
Adjusted Diluted Earnings per Share	($0.43)	($0.97)	($0.39)	($12.06)	($3.53)	($0.40)	($0.38)	$1.97	($0.53)	($0.53)	($0.59)
Adjusted Weighted Average Diluted Shares Outstanding	55.86M	56.75M	57.26M	1.96M	4.72M	25.61M	27.17M	21.28M	27.53M	28.08M	28.54M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	58.10M	57.98M	58.00M	58.24M	25.53M	27.50M	27.50M	27.54M	28.15M	28.52M	31.29M
Normalized Net Operating Profit after Tax (NOPAT)	-8.83	-10	-14	-17	-11	-10	-9.06	-11	-12	-12	-13
Normalized NOPAT Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-236.00%	-105.77%
Pre Tax Income Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-288.24%	-133.60%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	-3.54%	0.00%	0.00%	0.44%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

LENZ Therapeutics shows a mix of improving top-line performance in 2025 and ongoing cash burn blended with a solid balance sheet equity cushion. Here are the most relevant trends from the last four years, focusing on the latest four quarters where data is available.

Q3 2025 revenue of $12.5M with zero cost of revenue, resulting in $12.5M gross profit (Total Revenue = 12,500,000; Total Cost of Revenue = 0; Gross Profit = 12,500,000). This effectively yields a 100% gross margin for the quarter.
Strong liquidity position as of Q3 2025, with cash of about $25.4M and short-term investments of about $176.8M, totaling roughly $202M in liquid assets on the balance sheet.
Balance sheet lightweight on liabilities and solid equity base in Q3 2025: Total Liabilities around $16.8M versus Total Equity of about $193.9M, indicating a healthy equity cushion relative to debt.
Recent equity financing provided additional funding, including a notable issuance of common equity in Q2 2025 (~$26.3M), helping to bolster liquidity for ongoing activities.
Revenue remains lumpy across quarters (0 in Q1 2025 and Q4 2024, 5.0M in Q2 2025, 12.5M in Q3 2025), suggesting uneven near-term revenue visibility.
Operating expenses remain high relative to revenue in Q3 2025 (Total Operating Expenses = $31.39M vs. Revenue = $12.5M), resulting in an operating loss of about $18.89M.
Investing activity shows meaningful cash outlays into investments (Q3 2025 purchases of $56.306M with $52.412M in investments sold), leaving net cash from continuing investing activities around -$4.33M for the quarter, indicating portfolio management but sizable capital allocation.

Persistent quarterly losses, with Q3 2025 net income attributable to common shareholders around -$16.7M, continuing a multi-year pattern of losses.
Operating cash flow consistently negative, including approximately -$8.59M from operating activities in Q3 2025 (CFO) and ongoing negative cash flow across multiple quarters, signaling ongoing cash burn from core operations.
Large cumulative deficit on retained earnings, with Retained Earnings around -$191.2M at Q3 2025, illustrating a substantial accumulated deficit despite a growing equity base.

05/12/26 01:56 PM ETAI Generated. May Contain Errors.

LENZ Therapeutics Financials - Frequently Asked Questions

According to the most recent income statement we have on file, LENZ Therapeutics' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

LENZ Therapeutics' net income appears to be on a downward trend, with a most recent value of -$49.77 million in 2024, falling from -$68.37 million in 2020. The previous period was -$69.97 million in 2023. See where experts think LENZ Therapeutics is headed by visiting LENZ Therapeutics' forecast page.

LENZ Therapeutics' total operating income in 2024 was -$58.61 million, based on the following breakdown:

Total Gross Profit: $0.00
Total Operating Expenses: $58.61 million

Over the last 4 years, LENZ Therapeutics' total revenue changed from $0.00 in 2020 to $0.00 in 2024, a change of 0.0%.

LENZ Therapeutics' total liabilities were at $11.22 million at the end of 2024, a 43.0% decrease from 2023, and a 65.3% decrease since 2020.

In the past 4 years, LENZ Therapeutics' cash and equivalents has ranged from $19.78 million in 2020 to $376.98 million in 2021, and is currently $20.16 million as of their latest financial filing in 2024.

Over the last 4 years, LENZ Therapeutics' book value per share changed from -28.64 in 2020 to 7.42 in 2024, a change of -125.9%.

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Financial statements for NASDAQ:LENZ last updated on 11/14/2025 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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LENZ Therapeutics (LENZ) Financials

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LENZ Therapeutics (LENZ) Financials

Annual Income Statements for LENZ Therapeutics

Quarterly Income Statements for LENZ Therapeutics

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Quarterly Cash Flow Statements for LENZ Therapeutics

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Quarterly Balance Sheets for LENZ Therapeutics

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Quarterly Metrics And Ratios for LENZ Therapeutics

Financials Breakdown Chart

Key Financial Trends

LENZ Therapeutics Financials - Frequently Asked Questions

When does LENZ Therapeutics' financial year end?

How has LENZ Therapeutics' net income changed over the last 4 years?

What is LENZ Therapeutics' operating income?

How has LENZ Therapeutics' revenue changed over the last 4 years?

How much debt does LENZ Therapeutics have?

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How has LENZ Therapeutics' book value per share changed over the last 4 years?

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