Financial health
- The company is unprofitable and has less than a year of cash runway at its current free-cash-flow burn.
LENZ Financials LENZ Therapeutics, Inc.
6 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
RevenueNet income
GrossOperatingNet
ROEROA
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key annual figures
| FY | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| 2025 | $19M | -$82M | 97.8% | -477.5% | -28.9% | -26.8% | -$70M | — | $25M |
| 2024 | $0 | -$50M | — | — | -24.4% | -23.1% | -$60M | — | $20M |
| 2023 | — | -$70M | — | — | 75.5% | -99.4% | -$60M | — | $35M |
| 2022 | — | -$101M | — | — | 418.1% | -31.4% | -$95M | — | $48M |
| 2021 | — | -$71M | — | — | -18.4% | -17.6% | -$59M | — | $377M |
| 2020 | — | -$68M | — | — | 104.5% | -303.0% | -$10M | — | $20M |
RevenueNet income
GrossOperatingNet
ROEROA
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key quarterly figures
| Quarter | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| Jun '26 | $5M | -$32M | 94.9% | -622.9% | -14.6% | -13.5% | -$39M | — | $24M |
| Mar '26 | $2M | -$41M | 43.4% | -2321.7% | -16.8% | -15.2% | -$34M | — | $25M |
| Dec '25 | — | -$36M | — | — | -12.6% | -11.7% | -$33M | — | $25M |
| Sep '25 | — | -$17M | — | — | -8.6% | -7.9% | -$9M | — | $25M |
| Jun '25 | $5M | -$15M | 100.0% | -337.1% | -7.2% | -6.9% | -$12M | — | $38M |
| Mar '25 | $0 | -$15M | — | — | -7.6% | -7.3% | -$16M | — | $23M |
| Dec '24 | — | -$13M | — | — | -6.2% | -5.9% | -$9M | — | $20M |
| Sep '24 | — | -$10M | — | — | -4.7% | -4.6% | -$11M | — | $41M |
| Jun '24 | — | -$10M | — | — | -5.3% | -5.1% | -$16M | — | $84M |
| Mar '24 | — | -$17M | — | — | -8.4% | -7.7% | -$24M | — | $200M |
| Dec '23 | — | -$24M | — | — | 25.6% | -33.7% | -$21M | — | $35M |
| Sep '23 | — | -$19M | — | — | 27.1% | -7.1% | -$13M | — | $183M |
| Jun '23 | — | -$15M | — | — | 28.8% | -5.1% | -$14M | — | $129M |
| Mar '23 | — | -$13M | — | — | 34.5% | -4.1% | -$13M | — | $70M |
| Dec '22 | — | -$25M | — | — | 101.8% | -7.6% | -$23M | — | $48M |
| Sep '22 | — | -$25M | — | — | -7.8% | -7.4% | -$23M | — | $56M |
| Jun '22 | — | -$26M | — | — | -7.7% | -7.3% | -$23M | — | $75M |
| Mar '22 | — | -$26M | — | — | -7.2% | -6.8% | -$25M | — | $185M |
| Dec '21 | — | -$19M | — | — | -4.9% | -4.7% | -$17M | — | $377M |
| Sep '21 | — | -$15M | — | — | -3.6% | -3.5% | -$19M | — | $395M |
Valuation over time
How the market has priced LENZ against its own fundamentals since 2024-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
- The price-to-sales ratio has fallen from 26.3× (Dec '25) to 9.5× (Sep '26).
P/S
Frequently asked questions
Is LENZ growing its revenue and profit?
See the revenue and net-income charts above for LENZ Therapeutics, Inc.'s multi-year trend.
How much debt does LENZ have?
As of FY2025, LENZ Therapeutics, Inc. reported — of total debt against $25M of cash.
What is LENZ's profit margin?
In FY2025, gross margin was 97.8%, operating margin -477.5%, and net margin -430.3%.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.