LENZ THERAPEUTICS INC Financials
LENZ THERAPEUTICS INC (LENZ) reported $19.1M in revenue for fiscal year 2025. This page shows its 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).
Commercial revenue has begun, but financing—not operations—still supplies cash while fixed costs overwhelm gross profit.
FY2025 gross economics are not the immediate constraint: a97.8% gross margin on$19.1M of revenue coexisted with-$91.1M of operating income, showing that the cost base is far ahead of current sales scale. Cash funding tells the same story: operating cash flow remained negative in FY2023 and FY2025, while FY2025 financing provided$149.7M , making external capital—not operations—the dominant source of funding.
The latest liquidity measure equaled 50.7 months of reported annual operating outflow, alongside a 14.2x current ratio. This is a large short-term asset cushion, but it should not be confused with self-funding: FY2025 free cash flow was
The balance sheet also changed financing shape: FY2023 showed negative equity, whereas FY2025 reported
Financial Health Signals
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.
LENZ THERAPEUTICS INC's reported operating margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 5/100.
Not available for LENZ THERAPEUTICS INC, and counted as zero in the overall score.
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.
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.
LENZ THERAPEUTICS INC's reported free cash flow margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 3/100.
LENZ THERAPEUTICS INC posts a -28.9% return on equity (ROE), meaning it loses $29 for every $100 of shareholders' equity. This results in a returns score of 12/100. This is down from -24.4% the prior year.
LENZ THERAPEUTICS INC scores 3.70, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($163.7M) 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.
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.
LENZ THERAPEUTICS INC reported a net loss of $82.1M while operations used $69.2M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
LENZ THERAPEUTICS INC generated $19.1M in revenue in fiscal year 2025.
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.
LENZ THERAPEUTICS INC reported -$82.1M in net income in fiscal year 2025. This represents a decrease of 65.0% from the prior year.
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
LENZ THERAPEUTICS INC recorded an outflow of $70.0M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 16.9% from the prior year.
LENZ THERAPEUTICS INC held $25.2M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
LENZ THERAPEUTICS INC's gross margin was 97.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs.
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.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
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.
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.
Not reported for fiscal year 2025.
LENZ Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $5.5M+188.6% | $1.9M | N/A | $12.5M+150.0% | $5.0M | $0 | N/A | $0 |
| Cost of Revenue | $280K-74.0% | $1.1M | N/A | N/A | $0 | $0 | N/A | N/A |
| Gross Profit | $5.2M+531.0% | $825K | N/A | N/A | $5.0M | $0 | N/A | N/A |
| R&D Expenses | $0 | $0 | N/A | $3.8M-58.2% | $9.1M+55.7% | $5.8M | N/A | $6.5M |
| SG&A Expenses | $39.4M-12.4% | $45.0M | N/A | $27.6M+115.7% | $12.8M+15.1% | $11.1M | N/A | $6.5M |
| Operating Income | -$34.2M+22.6% | -$44.1M | N/A | -$18.9M-12.0% | -$16.9M+0.4% | -$16.9M | N/A | -$12.9M |
| Income Tax | $3K | N/A | N/A | $0-100.0% | $500K | N/A | N/A | $0 |
| Net Income | -$31.9M+23.1% | -$41.5M | N/A | -$16.7M-12.0% | -$14.9M-2.0% | -$14.6M | N/A | -$10.2M |
| EPS (Diluted) | -$1.02+22.7% | -$1.32-10.0% | -$1.20-103.4% | -$0.59-11.3% | -$0.530.0% | -$0.53-29.3% | -$0.41-7.9% | -$0.38 |
Not reported in any period shown, so not listed: Interest Expense.
LENZ Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $236.6M-13.2% | $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 |
| Current Assets | $233.3M-13.1% | $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 |
| Cash & Equivalents | $24.2M-2.3% | $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 |
| Inventory | $4.1M+17.8% | $3.5M+19.1% | $2.9M+209.4% | $949K | N/A | N/A | $0 | N/A |
| Accounts Receivable | $442K+28.9% | $343K+4.3% | $329K | N/A | N/A | N/A | $0 | N/A |
| Total Liabilities | $17.3M-33.4% | $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 |
| Current Liabilities | $17.2M-33.3% | $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 |
| Total Equity | $219.3M-11.0% | $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 |
| Retained Earnings | -$300.5M-11.9% | -$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 |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
LENZ Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$38.7M-15.3% | -$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 |
| Capital Expenditures | $16K-11.1% | $18K-52.6% | $38K-91.3% | $439K+82.9% | $240K+118.2% | $110K-26.2% | $149K-19.9% | $186K |
| Free Cash Flow | -$38.7M-15.3% | -$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 |
| Investing Cash Flow | $37.8M+13.9% | $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 |
| Financing Cash Flow | $395K+2721.4% | $14K-100.0% | $122.6M+20404.2% | $598K-97.7% | $26.5M+60100.0% | $44K-17.0% | $53K-99.8% | $29.8M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
LENZ Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 94.9%+51.5pp | 43.4% | N/A | N/A | 100.0% | N/A | N/A | N/A |
| Operating Margin | -622.9% | -2321.7% | N/A | -151.1% | -337.1% | N/A | N/A | N/A |
| Net Margin | -581.8% | -2182.4% | N/A | -133.6% | -298.2% | N/A | N/A | N/A |
| Return on Equity | -14.6%+2.3pp | -16.8% | N/A | -8.6%-1.4pp | -7.2%+0.4pp | -7.6% | N/A | -4.7% |
| Return on Assets | -13.5%+1.7pp | -15.2% | N/A | -7.9%-1.1pp | -6.9%+0.4pp | -7.3% | N/A | -4.6% |
| Current Ratio | 13.55+3.2x | 10.40-3.8x | 14.23+1.5x | 12.69-7.9x | 20.54-2.5x | 23.09+2.7x | 20.36-8.3x | 28.63 |
| Debt-to-Equity | 0.080.0x | 0.110.0x | 0.080.0x | 0.090.0x | 0.050.0x | 0.050.0x | 0.060.0x | 0.04 |
| FCF Margin | -706.0% | -1767.5% | N/A | -72.2% | -235.0% | N/A | N/A | N/A |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
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Where LENZ THERAPEUTICS INC Ranks
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.
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 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) recorded an outflow of $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) recorded an outflow of $69.2M in operating cash flow during fiscal year 2025, representing cash used by 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.
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.
How does LENZ THERAPEUTICS INC's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, LENZ THERAPEUTICS INC (LENZ) held $292.3M in cash, cash equivalents and investments, and reported an operating cash outflow of $69.2M over that year. Dividing the one by the other, the reported balance equals about 51 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is LENZ THERAPEUTICS INC's Altman Z-Score?
LENZ THERAPEUTICS INC (LENZ) has an Altman Z-Score of 3.70, 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) reported a net loss of $82.1M while operations used $69.2M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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 34 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.