What is LENZ THERAPEUTICS INC's earnings per share (EPS)?

LENZ THERAPEUTICS INC (LENZ) reported diluted earnings per share of $-2.85 for fiscal year 2025. This represents a -21.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

LENZ THERAPEUTICS INC Financials

LENZ

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows LENZ THERAPEUTICS INC (LENZ) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI LENZ FY2025 2026-05-11

High-margin first sales are being outweighed by a commercial cost build-out, while the balance sheet remains financed externally.

FY2025 did not expose a weak gross-profit engine; it exposed a shift in the expense mix. Gross margin reached 97.8%, but SG&A expanded to $91.1M while R&D fell versus FY2024, so the deeper operating loss reflects overhead arriving faster than early revenue can absorb.

Cash burn is closely tracking the reported loss, which makes earnings quality easier to read: this is not mainly an accounting-loss story. Operating cash flow and free cash flow were nearly identical because capex was only $827K, so the business looks asset-light even though it is still consuming cash heavily.

Balance-sheet risk is currently more about dependence on financing than debt load. Total liabilities were only $21.5M, but financing inflows added $149.7M in FY2025, showing that the company’s operating runway is still being extended by outside capital rather than by internally generated cash.

Financial Health Signals

Financial Health Score 33/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of LENZ THERAPEUTICS INC's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

LENZ THERAPEUTICS INC has an operating margin of -477.5%, meaning the company retains $-477 of operating profit per $100 of revenue. This below-average margin results in a low score of 5/100, suggesting thin profitability after operating expenses.

Leverage

LENZ THERAPEUTICS INC carries a low D/E ratio of 0.08, meaning only $0.08 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 82/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

With a current ratio of 14.23, LENZ THERAPEUTICS INC holds $14.23 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 99/100.

Cash Flow

While LENZ THERAPEUTICS INC generated -$69.2M in operating cash flow, capex of $827K consumed most of it, leaving -$70.0M in free cash flow. This results in a low score of 3/100, reflecting heavy capital investment rather than weak cash generation.

Returns

LENZ THERAPEUTICS INC generates a -28.9% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 11/100. This is down from -24.4% the prior year.

Altman Z-Score Safe

4.02

LENZ THERAPEUTICS INC scores 4.02, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($175.3M) relative to total liabilities ($21.5M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

2/7

LENZ THERAPEUTICS INC passes 2 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Low Quality

0.84x

For every $1 of reported earnings, LENZ THERAPEUTICS INC generates $0.84 in operating cash flow (-$69.2M OCF vs -$82.1M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

$19.1M

LENZ THERAPEUTICS INC generated $19.1M in revenue in fiscal year 2025.

EBITDA

-$90.9M

YoY-55.2%

LENZ THERAPEUTICS INC's EBITDA was -$90.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 55.2% from the prior year.

Net Income

-$82.1M

YoY-65.0%

LENZ THERAPEUTICS INC reported -$82.1M in net income in fiscal year 2025. This represents a decrease of 65.0% from the prior year.

EPS (Diluted)

$-2.85

YoY-21.8%

LENZ THERAPEUTICS INC earned $-2.85 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 21.8% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$70.0M

YoY-16.9%

LENZ THERAPEUTICS INC generated -$70.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 16.9% from the prior year.

Cash & Debt

$25.2M

YoY+24.9%

5Y CAGR+4.9%

LENZ THERAPEUTICS INC held $25.2M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

31M

YoY+13.9%

LENZ THERAPEUTICS INC had 31M shares outstanding in fiscal year 2025. This represents an increase of 13.9% from the prior year.

Margins & Returns

Gross Margin

97.8%

LENZ THERAPEUTICS INC's gross margin was 97.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs.

Operating Margin

-477.5%

LENZ THERAPEUTICS INC's operating margin was -477.5% in fiscal year 2025, reflecting core business profitability.

Net Margin

-430.3%

LENZ THERAPEUTICS INC's net profit margin was -430.3% in fiscal year 2025, showing the share of revenue converted to profit.

Return on Equity

-28.9%

YoY-4.5pp

LENZ THERAPEUTICS INC's ROE was -28.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 4.5 percentage points from the prior year.

Capital Allocation

R&D Spending

$18.7M

YoY-37.4%

5Y CAGR+15.4%

LENZ THERAPEUTICS INC invested $18.7M in research and development in fiscal year 2025. This represents a decrease of 37.4% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$827K

YoY+76.7%

5Y CAGR-11.7%

LENZ THERAPEUTICS INC invested $827K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 76.7% from the prior year.

LENZ Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$19.1M	$0	N/A	N/A	N/A	N/A
Cost of Revenue	$418K	$0	N/A	N/A	N/A	N/A
Gross Profit	$18.7M	$0	N/A	N/A	N/A	N/A
R&D Expenses	$18.7M-37.4%	$29.8M-49.9%	$59.5M-18.2%	$72.8M+91.9%	$37.9M+315.8%	$9.1M
SG&A Expenses	$91.1M+216.4%	$28.8M+122.9%	$12.9M-60.7%	$32.9M+45.9%	$22.5M+414.3%	$4.4M
Operating Income	-$91.1M-55.5%	-$58.6M+19.1%	-$72.4M+31.4%	-$105.6M-74.8%	-$60.4M-347.7%	-$13.5M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$502K+50100.0%	$1K+100.6%	-$179K	$0	$0	$0
Net Income	-$82.1M-65.0%	-$49.8M+28.9%	-$70.0M+30.8%	-$101.1M-42.8%	-$70.8M-3.5%	-$68.4M
EPS (Diluted)	$-2.85-21.8%	$-2.34	$-35.71	$-1.84+24.9%	$-2.45	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$1.9M	N/A	$12.5M+150.0%	$5.0M	$0	N/A	$0	$0
Cost of Revenue	$1.1M	N/A	N/A	N/A	$0	N/A	N/A	N/A
Gross Profit	$825K	N/A	N/A	N/A	$0	N/A	N/A	N/A
R&D Expenses	$0	N/A	$3.8M-58.2%	$9.1M+55.7%	$5.8M	N/A	$6.5M-7.1%	$6.9M
SG&A Expenses	$45.0M	N/A	$27.6M+115.7%	$12.8M+15.1%	$11.1M	N/A	$6.5M-12.3%	$7.4M
Operating Income	-$44.1M	N/A	-$18.9M-12.0%	-$16.9M+0.4%	-$16.9M	N/A	-$12.9M+9.8%	-$14.4M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	$0-100.0%	$500K	N/A	N/A	$0	$0
Net Income	-$41.5M	N/A	-$16.7M-12.0%	-$14.9M-2.0%	-$14.6M	N/A	-$10.2M+0.4%	-$10.3M
EPS (Diluted)	$-1.32	N/A	$-0.59-11.3%	$-0.530.0%	$-0.53	N/A	$-0.38+5.0%	$-0.40

LENZ Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$305.9M+42.1%	$215.3M+205.9%	$70.4M-78.1%	$321.9M-19.9%	$402.0M+1681.5%	$22.6M
Current Assets	$301.4M+42.2%	$211.9M+215.1%	$67.2M-75.6%	$275.4M-27.9%	$381.7M+1708.9%	$21.1M
Cash & Equivalents	$25.2M+24.9%	$20.2M-42.6%	$35.1M-26.4%	$47.7M-87.3%	$377.0M+1805.7%	$19.8M
Inventory	$2.9M	$0	N/A	N/A	N/A	N/A
Accounts Receivable	$329K	$0	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$21.5M+92.0%	$11.2M-93.1%	$163.1M-52.9%	$346.1M+1829.4%	$17.9M-79.6%	$88.0M
Current Liabilities	$21.2M+103.6%	$10.4M-43.8%	$18.5M+41.9%	$13.0M+7.4%	$12.1M-62.1%	$32.0M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$284.3M+39.3%	$204.1M+320.1%	-$92.7M-283.6%	-$24.2M-106.3%	$384.1M+687.2%	-$65.4M
Retained Earnings	-$227.1M-56.6%	-$145.0M-52.3%	-$95.2M+60.7%	-$242.4M-71.5%	-$141.4M-100.2%	-$70.6M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$272.5M-10.9%	$305.9M+45.2%	$210.7M-3.0%	$217.3M+8.0%	$201.3M-6.5%	$215.3M-3.9%	$224.0M+10.5%	$202.6M
Current Assets	$268.4M-11.0%	$301.4M+45.6%	$207.0M-3.1%	$213.6M+8.0%	$197.9M-6.6%	$211.9M-4.0%	$220.7M+10.7%	$199.3M
Cash & Equivalents	$24.8M-1.6%	$25.2M-0.9%	$25.4M-32.5%	$37.6M+63.2%	$23.0M+14.3%	$20.2M-50.9%	$41.0M-51.2%	$84.0M
Inventory	$3.5M+19.1%	$2.9M+209.4%	$949K	N/A	N/A	$0	N/A	N/A
Accounts Receivable	$343K+4.3%	$329K	N/A	N/A	N/A	$0	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$26.0M+20.9%	$21.5M+28.4%	$16.8M+53.0%	$11.0M+18.7%	$9.2M-17.6%	$11.2M+28.6%	$8.7M-10.2%	$9.7M
Current Liabilities	$25.8M+21.8%	$21.2M+29.9%	$16.3M+56.9%	$10.4M+21.3%	$8.6M-17.7%	$10.4M+35.0%	$7.7M-10.2%	$8.6M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$246.5M-13.3%	$284.3M+46.6%	$193.9M-6.0%	$206.4M+7.5%	$192.0M-5.9%	$204.1M-5.2%	$215.3M+11.6%	$192.9M
Retained Earnings	-$268.6M-18.3%	-$227.1M-18.8%	-$191.2M-9.6%	-$174.5M-9.3%	-$159.6M-10.1%	-$145.0M-9.6%	-$132.4M-8.4%	-$122.1M

LENZ Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$69.2M-16.5%	-$59.4M+1.6%	-$60.4M+31.4%	-$88.0M-66.5%	-$52.9M-506.0%	-$8.7M
Capital Expenditures	$827K+76.7%	$468K+1460.0%	$30K-99.5%	$6.6M+14.9%	$5.7M+271.5%	$1.5M
Free Cash Flow	-$70.0M-16.9%	-$59.9M+0.9%	-$60.4M+36.1%	-$94.6M-61.4%	-$58.6M-470.7%	-$10.3M
Investing Cash Flow	-$75.7M+51.0%	-$154.5M-421.5%	-$29.6M+87.8%	-$241.9M-4113.6%	-$5.7M-271.5%	-$1.5M
Financing Cash Flow	$149.7M-24.8%	$199.0M+146.6%	$80.7M+13417.6%	$597K-99.9%	$417.5M+1288.0%	$30.1M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$33.6M-1.7%	-$33.0M-284.5%	-$8.6M+25.4%	-$11.5M+28.3%	-$16.0M-76.8%	-$9.1M+14.2%	-$10.6M+33.0%	-$15.8M
Capital Expenditures	$18K-52.6%	$38K-91.3%	$439K+82.9%	$240K+118.2%	$110K-26.2%	$149K-19.9%	$186K+39.8%	$133K
Free Cash Flow	-$33.6M-1.6%	-$33.1M-266.3%	-$9.0M+23.2%	-$11.7M+27.3%	-$16.2M-75.1%	-$9.2M+14.3%	-$10.8M+32.4%	-$15.9M
Investing Cash Flow	$33.2M+136.9%	-$89.8M-1972.7%	-$4.3M-946.6%	-$414K-102.2%	$18.9M+259.2%	-$11.9M+80.9%	-$62.2M+36.8%	-$98.4M
Financing Cash Flow	$14K-100.0%	$122.6M+20404.2%	$598K-97.7%	$26.5M+60100.0%	$44K-17.0%	$53K-99.8%	$29.8M+1495.3%	-$2.1M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

LENZ Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	97.8%	N/A	N/A	N/A	N/A	N/A
Operating Margin	-477.5%	N/A	N/A	N/A	N/A	N/A
Net Margin	-430.3%	N/A	N/A	N/A	N/A	N/A
Return on Equity	-28.9%-4.5pp	-24.4%	N/A	N/A	-18.4%	N/A
Return on Assets	-26.9%-3.7pp	-23.1%+76.3pp	-99.4%-68.0pp	-31.4%-13.8pp	-17.6%+285.4pp	-303.0%
Current Ratio	14.23-6.1	20.36+16.7	3.63-17.5	21.11-10.3	31.44+30.8	0.66
Debt-to-Equity	0.08+0.0	0.06+1.8	-1.76+12.6	-14.32-14.4	0.05+1.4	-1.34
FCF Margin	-366.7%	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	43.4%	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-2321.7%	N/A	-151.1%+186.0pp	-337.1%	N/A	N/A	N/A	N/A
Net Margin	-2182.4%	N/A	-133.6%+164.6pp	-298.2%	N/A	N/A	N/A	N/A
Return on Equity	-16.8%	N/A	-8.6%-1.4pp	-7.2%+0.4pp	-7.6%	N/A	-4.7%+0.6pp	-5.3%
Return on Assets	-15.2%	N/A	-7.9%-1.1pp	-6.9%+0.4pp	-7.3%	N/A	-4.6%+0.5pp	-5.1%
Current Ratio	10.40-3.8	14.23+1.5	12.69-7.9	20.54-2.5	23.09+2.7	20.36-8.3	28.63+5.4	23.23
Debt-to-Equity	0.11+0.0	0.08-0.0	0.09+0.0	0.050.0	0.050.0	0.06+0.0	0.040.0	0.05
FCF Margin	-1767.5%	N/A	-72.2%+162.7pp	-235.0%	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is LENZ THERAPEUTICS INC's annual revenue?

LENZ THERAPEUTICS INC (LENZ) reported $19.1M in total revenue for fiscal year 2025. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Is LENZ THERAPEUTICS INC profitable?

No, LENZ THERAPEUTICS INC (LENZ) reported a net income of -$82.1M in fiscal year 2025, with a net profit margin of -430.3%.

What is LENZ THERAPEUTICS INC's EBITDA?

LENZ THERAPEUTICS INC (LENZ) had EBITDA of -$90.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is LENZ THERAPEUTICS INC's gross margin?

LENZ THERAPEUTICS INC (LENZ) had a gross margin of 97.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is LENZ THERAPEUTICS INC's operating margin?

LENZ THERAPEUTICS INC (LENZ) had an operating margin of -477.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is LENZ THERAPEUTICS INC's net profit margin?

LENZ THERAPEUTICS INC (LENZ) had a net profit margin of -430.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is LENZ THERAPEUTICS INC's return on equity (ROE)?

LENZ THERAPEUTICS INC (LENZ) has a return on equity of -28.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is LENZ THERAPEUTICS INC's free cash flow?

LENZ THERAPEUTICS INC (LENZ) generated -$70.0M in free cash flow during fiscal year 2025. This represents a -16.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is LENZ THERAPEUTICS INC's operating cash flow?

LENZ THERAPEUTICS INC (LENZ) generated -$69.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are LENZ THERAPEUTICS INC's total assets?

LENZ THERAPEUTICS INC (LENZ) had $305.9M in total assets as of fiscal year 2025, including both current and long-term assets.

What are LENZ THERAPEUTICS INC's capital expenditures?

LENZ THERAPEUTICS INC (LENZ) invested $827K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does LENZ THERAPEUTICS INC spend on research and development?

LENZ THERAPEUTICS INC (LENZ) invested $18.7M in research and development during fiscal year 2025.

How many shares does LENZ THERAPEUTICS INC have outstanding?

LENZ THERAPEUTICS INC (LENZ) had 31M shares outstanding as of fiscal year 2025.

What is LENZ THERAPEUTICS INC's current ratio?

LENZ THERAPEUTICS INC (LENZ) had a current ratio of 14.23 as of fiscal year 2025, which is generally considered healthy.

What is LENZ THERAPEUTICS INC's debt-to-equity ratio?

LENZ THERAPEUTICS INC (LENZ) had a debt-to-equity ratio of 0.08 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is LENZ THERAPEUTICS INC's return on assets (ROA)?

LENZ THERAPEUTICS INC (LENZ) had a return on assets of -26.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is LENZ THERAPEUTICS INC's cash runway?

Based on fiscal year 2025 data, LENZ THERAPEUTICS INC (LENZ) had $25.2M in cash against an annual operating cash burn of $69.2M. This gives an estimated cash runway of approximately 4 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is LENZ THERAPEUTICS INC's Altman Z-Score?

LENZ THERAPEUTICS INC (LENZ) has an Altman Z-Score of 4.02, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is LENZ THERAPEUTICS INC's Piotroski F-Score?

LENZ THERAPEUTICS INC (LENZ) has a Piotroski F-Score of 2 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are LENZ THERAPEUTICS INC's earnings high quality?

LENZ THERAPEUTICS INC (LENZ) has an earnings quality ratio of 0.84x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is LENZ THERAPEUTICS INC?

LENZ THERAPEUTICS INC (LENZ) scores 33 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.