LENZ Therapeutics, Inc. (LENZ) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 21, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 11, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the LENZ SEC filings page.
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).
FY2025 shows reported product economics, but operating spending still overwhelms its first meaningful revenue.
The FY2025 net loss of$82.1M was larger than operating cash outflow of$69.2M , yet free cash flow nearly matched that outflow, showing that cash consumption is mainly operational rather than infrastructure-driven. With capital expenditures of only$827K , the business is not spending heavily on physical assets; its financial burden sits in building and running the operation.
FY2025 revenue of
The balance sheet carries relatively little reported liability:
Financial Health Signals
Scored against emerging 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. held $292.3M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $69.2M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and LENZ Therapeutics, Inc. scores 67/100 among other emerging companies.
LENZ Therapeutics, Inc. had 31M shares outstanding at the end of fiscal year 2025, against 28M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and LENZ Therapeutics, Inc. scores 81/100 among other emerging companies.
LENZ Therapeutics, Inc. spent $18.7M on research and development in fiscal year 2025, which was 16.9% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and LENZ Therapeutics, Inc. scores 48/100 among other emerging companies.
Not available for LENZ Therapeutics, Inc., and counted as zero in the overall score.
LENZ Therapeutics, Inc.'s operations used $69.2M of cash in fiscal year 2025, against $59.4M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and LENZ Therapeutics, Inc. scores 39/100 among other emerging companies.
LENZ Therapeutics, Inc.'s cash, cash equivalents and investments came to $292.3M at the end of fiscal year 2025, against $21.5M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and LENZ Therapeutics, Inc. scores 98/100 among other emerging companies.
LENZ Therapeutics, Inc. scores 1.93, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($100.2M) relative to total liabilities ($21.5M). This signals moderate financial risk that warrants monitoring.
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 $5.5M in revenue in Q2 2026. This represents an increase of 9.7% from the same quarter a year earlier. Against the prior quarter it is up 188.6%.
LENZ Therapeutics, Inc.'s EBITDA was -$34.1M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 102.3% from the same quarter a year earlier. Against the prior quarter it is up 22.6%.
LENZ Therapeutics, Inc. reported -$31.9M in net income in Q2 2026. This represents a decrease of 114.0% from the same quarter a year earlier. Against the prior quarter it is up 23.1%.
LENZ Therapeutics, Inc. earned -$1.02 per diluted share (EPS) in Q2 2026. This represents a decrease of 92.5% from the same quarter a year earlier. Against the prior quarter it is up 22.7%.
Cash & Balance Sheet
LENZ Therapeutics, Inc. recorded an outflow of $38.7M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 229.7% from the same quarter a year earlier. Against the prior quarter it is down 15.3%.
LENZ Therapeutics, Inc. held $24.2M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
LENZ Therapeutics, Inc.'s gross margin was 94.9% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 5.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 51.5 percentage points.
LENZ Therapeutics, Inc.'s ROE was -14.6% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 7.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.3 percentage points.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
LENZ Therapeutics, Inc. reported no research and development spending in Q2 2026. This represents a decrease of 100.0% from the same quarter a year earlier.
LENZ Therapeutics, Inc. invested $16K in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 93.3% from the same quarter a year earlier. Against the prior quarter it is down 11.1%.
Not reported for Q2 2026.
LENZ Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $5.5M+9.7% | $1.9M | N/A | $12.5M | $5.0M | $0 | N/A | $0 |
| Cost of Revenue | $280K | $1.1M | N/A | N/A | $0 | $0 | N/A | N/A |
| Gross Profit | $5.2M+4.1% | $825K | N/A | N/A | $5.0M | $0 | N/A | N/A |
| R&D Expenses | $0-100.0% | $0-100.0% | N/A | $3.8M-41.2% | $9.1M+30.5% | $5.8M-44.8% | N/A | $6.5M-62.1% |
| SG&A Expenses | $39.4M+207.7% | $45.0M+304.6% | N/A | $27.6M+324.9% | $12.8M+72.8% | $11.1M+100.2% | N/A | $6.5M+127.0% |
| Operating Income | -$34.2M-102.7% | -$44.1M-160.7% | N/A | -$18.9M-45.9% | -$16.9M-17.5% | -$16.9M-5.2% | N/A | -$12.9M+34.8% |
| EBITDA | -$34.1M-102.3% | -$44.0M-160.6% | N/A | -$18.8M-45.0% | -$16.8M-17.5% | -$16.9M-5.0% | N/A | -$12.9M+32.2% |
| Income Tax | $3K-99.4% | N/A | N/A | $0 | $500K | N/A | N/A | $0 |
| Net Income | -$31.9M-114.0% | -$41.5M-183.8% | N/A | -$16.7M-63.5% | -$14.9M-45.4% | -$14.6M+12.2% | N/A | -$10.2M+45.9% |
| EPS (Basic) | -$1.02-92.5% | -$1.32-149.1% | -$1.20-192.7% | -$0.59-55.3% | -$0.53-32.5% | -$0.53+85.0% | -$0.41-2.5% | -$0.38+96.0% |
| EPS (Diluted) | -$1.02-92.5% | -$1.32-149.1% | -$1.20-192.7% | -$0.59-55.3% | -$0.53-32.5% | -$0.53 | -$0.41 | -$0.38 |
| Diluted Shares (Avg) | 31M+11.7% | 31M+13.9% | N/A | 29M+5.0% | 28M+9.6% | 28M | N/A | 27M |
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. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $236.6M+8.9% | $272.5M+35.4% | $305.9M+42.1% | $210.7M-5.9% | $217.3M+7.3% | $201.3M-7.4% | $215.3M+205.9% | $224.0M-15.9% |
| Current Assets | $233.3M+9.2% | $268.4M+35.6% | $301.4M+42.2% | $207.0M-6.2% | $213.6M+7.1% | $197.9M-8.7% | $211.9M+215.1% | $220.7M-7.6% |
| Cash & Equivalents | $24.2M-35.6% | $24.8M+7.5% | $25.2M+24.9% | $25.4M-38.1% | $37.6M-55.2% | $23.0M-88.5% | $20.2M-42.6% | $41.0M-77.6% |
| Short-Term Investments | $195.8M+13.9% | $233.6M+36.7% | $267.2M+41.5% | $176.8M+0.4% | $171.9M+53.4% | $170.9M+1222.8% | $188.9M+516.1% | $176.1M+245.2% |
| Inventory | $4.1M | $3.5M | $2.9M | $949K | N/A | N/A | $0 | N/A |
| Accounts Receivable | $442K | $343K | $329K | N/A | N/A | N/A | $0 | N/A |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $17.3M+58.1% | $26.0M+181.8% | $21.5M+92.0% | $16.8M+92.2% | $11.0M+12.9% | $9.2M-51.8% | $11.2M-93.1% | $8.7M-97.4% |
| Current Liabilities | $17.2M+65.5% | $25.8M+201.2% | $21.2M+103.6% | $16.3M+111.6% | $10.4M+21.1% | $8.6M-54.6% | $10.4M-43.8% | $7.7M-38.5% |
| Non-Current Liabilities | $122K-78.6% | $237K-64.8% | $350K-57.0% | $461K-54.7% | $569K-49.9% | $673K+152.1% | $814K-99.4% | $1.0M-99.7% |
| Total Equity | $219.3M+6.2% | $246.5M+28.4% | $284.3M+39.3% | $193.9M-9.9% | $206.4M+7.0% | $192.0M-3.1% | $204.1M+320.1% | $215.3M+409.5% |
| Retained Earnings | -$300.5M-72.2% | -$268.6M-68.3% | -$227.1M-56.6% | -$191.2M-44.5% | -$174.5M-42.9% | -$159.6M-42.7% | -$145.0M-52.3% | -$132.4M+61.5% |
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. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$38.7M-236.4% | -$33.6M-109.2% | -$33.0M-263.8% | -$8.6M+18.8% | -$11.5M+27.1% | -$16.0M+33.0% | -$9.1M+56.7% | -$10.6M+19.2% |
| Depreciation & Amortization | $110K+478.9% | $111K+208.3% | $107K+328.0% | $125K+1150.0% | $19K+5.6% | $36K+620.0% | $25K+525.0% | $10K-98.8% |
| Stock-Based Compensation | $4.5M+57.2% | $4.3M+69.0% | N/A | $3.5M+58.3% | $2.8M+78.1% | $2.6M+169.8% | N/A | $2.2M+343.5% |
| Capital Expenditures | $16K-93.3% | $18K-83.6% | $38K-74.5% | $439K+136.0% | $240K+80.5% | $110K | $149K | $186K |
| Free Cash Flow | -$38.7M-229.7% | -$33.6M-107.9% | -$33.1M-258.3% | -$9.0M+16.2% | -$11.7M+26.2% | -$16.2M+32.5% | -$9.2M+56.0% | -$10.8M+17.7% |
| Investing Cash Flow | $37.8M+9219.3% | $33.2M+75.6% | -$89.8M-657.1% | -$4.3M+93.0% | -$414K+99.6% | $18.9M+4.9% | -$11.9M-178.2% | -$62.2M-247.4% |
| Financing Cash Flow | $395K-98.5% | $14K-68.2% | $122.6M+231249.1% | $598K-98.0% | $26.5M+1339.5% | $44K-100.0% | $53K+102.8% | $29.8M+5349.6% |
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. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 94.9%-5.1pp | 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%-7.3pp | -16.8%-9.2pp | N/A | -8.6%-3.9pp | -7.2%-1.9pp | -7.6%+0.8pp | N/A | -4.7% |
| Return on Assets | -13.5%-6.6pp | -15.2%-8.0pp | N/A | -7.9%-3.4pp | -6.9%-1.8pp | -7.3%+0.4pp | N/A | -4.6%+2.5pp |
| Current Ratio | 13.55-7.0x | 10.40-12.7x | 14.23-6.1x | 12.69-15.9x | 20.54-2.7x | 23.09+11.6x | 20.36+16.7x | 28.63+9.6x |
| Debt-to-Equity | 0.080.0x | 0.11+0.1x | 0.080.0x | 0.090.0x | 0.050.0x | 0.050.0x | 0.06 | 0.04 |
| Asset Turnover | 0.020.0x | 0.010.0x | N/A | 0.06+0.1x | 0.020.0x | 0.00 | N/A | 0.00 |
| 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.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| LENZ Therapeutics, Inc. LENZ | FY2025 | $19.1M | -$82.1M | N/A | $100.2M | 56/100 |
| Amylyx Pharmaceuticals, Inc. AMLX | FY2025 | $0 | -$144.7M | N/A | $3.6B | — |
| Tourmaline Bio, Inc. TRML | FY2024 | N/A | -$73.2M | N/A | $1.2B | — |
| Dianthus Therapeutics, Inc. DNTH | FY2025 | $2.0M | -$162.3M | N/A | $4.4B | 55/100 |
| Trevi Therapeutics, Inc. TRVI | FY2025 | N/A | -$42.8M | N/A | $1.8B | — |
| Enliven Therapeutics, Inc. ELVN | FY2025 | N/A | -$103.7M | N/A | $3.0B | — |
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.
What is LENZ Therapeutics, Inc.'s P/E ratio?
LENZ Therapeutics, Inc. (LENZ) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $100.2M as of Oct 21, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is LENZ Therapeutics, Inc.'s price-to-sales ratio?
LENZ Therapeutics, Inc. (LENZ) trades at 5.3x sales, its market capitalization divided by revenue of $19.1M revenue, FY2025. The market capitalization is $100.2M as of Oct 21, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
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 1.93, placing it in the Grey Zone (moderate 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 56 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), 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.