ASE · Financial Statements

Lineage Cell Therapeutics, Inc. (LCTX) Financial Statements

$1.00 ASE: LCTX Market Cap $252.91M

Lineage Cell Therapeutics, Inc. most recently reported annual revenue of $15.0M, a net loss of $64.0M. Revenue grew at an average annual rate of 71.9% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Lineage Cell Therapeutics, Inc.: Revenue rose from $2.0M in 2016 to $15.0M in 2025, a change of +650.0% over 9 years; net profit was positive in 1 of 10 reported years; operating margin moved from -2618.4% to -149.6%, a shift of +2468.8 percentage points; the most recent year shows a net loss of $64.0M.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$2.0M$2.0M$1.0M$1.0M$1.0M$4.0M$15.0M$9.0M$9.0M$15.0M
Operating Expenses$61.0M$41.0M$43.0M$40.0M$27.0M$53.0M$37.0M$34.0M$31.0M$36.0M
Operating Profit$-59.0M$-39.0M$-42.0M$-39.0M$-26.0M$-49.0M$-23.0M$-25.0M$-21.0M$-22.0M
Operating Margin-2618.4%-2170.9%-2951.6%-2630.3%-3421.3%-1263.1%-153.2%-276.5%-226.1%-149.6%
Other Income$78.0M$16.0M$-5.0M$20.0M$5.0M$6.0M$-3.0M$1.0M$3.0M$-47.0M
Interest$1.0M$1.0M$11.0M$0$0$0$0$0$0$0
Depreciation$5.0M$3.0M$3.0M$3.0M$2.0M$1.0M$1.0M$1.0M$1.0M$1.0M
Profit Before Tax$19.0M$-23.0M$-47.0M$-19.0M$-22.0M$-43.0M$-26.0M$-23.0M$-19.0M$-69.0M
Tax$0$0$730,000$38.5M$5.7M$0$-2.1M$7.7M$0$7.5M
Net Profit$34.0M$-20.0M$-46.0M$-12.0M$-21.0M$-43.0M$-26.0M$-21.0M$-19.0M$-64.0M
EPS$0.34$-0.17$-0.36$-0.08$-0.14$-0.26$-0.15$-0.12$-0.09$-0.28
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$1.0M$2.0M$1.0M$1.0M$4.0M$3.0M$2.0M$3.0M$4.0M$7.0M$2.0M$1.0M
Operating Expenses$8.0M$8.0M$8.0M$7.0M$8.0M$8.0M$8.0M$23.0M$7.0M$13.0M$9.0M$10.0M
Operating Profit$-7.0M$-6.0M$-7.0M$-6.0M$-4.0M$-5.0M$-7.0M$-20.0M$-4.0M$-7.0M$-8.0M$-9.0M
Operating Margin-538.1%-304.7%-461.3%-416.7%-101.6%-178.2%-433.1%-715.4%-102.8%-99.1%-440.2%-834.7%
Interest$0$0$0$0$0$0$0$0$0$0$0$0
Profit Before Tax$-7.0M$-5.0M$-7.0M$-6.0M$-3.0M$-3.0M$-4.0M$-30.0M$-30.0M$-4.0M$-5.0M$2.0M
Tax$0$0$0$0$0$0$0$0$0$120.3M$0$0
Net Profit$-7.0M$-5.0M$-7.0M$-6.0M$-3.0M$-3.0M$-4.0M$-30.0M$-30.0M$1.0M$-5.0M$1.0M
EPS$-0.04$-0.03$-0.04$-0.03$-0.02$-0.02$-0.02$-0.13$-0.13$0.00$-0.02$0.01

Over the 10 years reported for Lineage Cell Therapeutics, Inc., borrowings decreased from $4.0M in 2016 to $2.0M in 2025, cash stood at $41.0M in the latest year, shareholders' equity was $515.0M, current assets covered current liabilities 5.36 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$143.0M$173.0M$102.0M$125.0M$108.0M$175.0M$124.0M$101.0M$113.0M$113.0M
Current Assets$26.0M$43.0M$36.0M$58.0M$44.0M$112.0M$60.0M$38.0M$51.0M$59.0M
Cash$22.0M$37.0M$24.0M$9.0M$33.0M$56.0M$11.0M$35.0M$46.0M$41.0M
Inventory$0$0$0$0$0$0$0$0$0$0
Receivables$1.0M$3.0M$4.0M$25.0M$0$51.0M$0$1.0M$1.0M$2.0M
Fixed Assets$6.0M$6.0M$6.0M$8.0M$6.0M$5.0M$6.0M$5.0M$4.0M$5.0M
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$101.0M$119.0M$41.0M$21.0M$9.0M$3.0M$47.0M$0$2.0M$15.0M
Other Assets$0$0$0$11.0M$11.0M$11.0M$11.0M$11.0M$11.0M$11.0M
Total Liabilities$12.0M$9.0M$9.0M$14.0M$13.0M$84.0M$52.0M$39.0M$36.0M$69.0M
Current Liabilities$9.0M$7.0M$7.0M$6.0M$8.0M$47.0M$19.0M$18.0M$14.0M$11.0M
Borrowings$4.0M$2.0M$2.0M$5.0M$4.0M$3.0M$4.0M$3.0M$3.0M$2.0M
Other Liabilities$8.0M$7.0M$7.0M$9.0M$9.0M$81.0M$48.0M$36.0M$34.0M$67.0M
Equity$318.0M$378.0M$354.0M$387.0M$394.0M$435.0M$440.0M$451.0M$485.0M$515.0M
Reserves$118.0M$163.0M$94.0M$113.0M$96.0M$92.0M$73.0M$63.0M$78.0M$45.0M

For Lineage Cell Therapeutics, Inc., operating cash flow was positive in 1 of 10 reported years; free cash flow in the latest year was negative at $19.0M; free cash flow was positive in 1 of 10 years.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$-42.0M$-31.0M$-31.0M$-32.0M$-20.0M$-24.0M$1.0M$-29.0M$-23.0M$-19.0M
Investing Cash Flow$-13.0M$-12.0M$33.0M$17.0M$13.0M$9.0M$-47.0M$46.0M$-3.0M$-14.0M
Financing Cash Flow$0$-4.0M$36.0M$1.0M$25.0M$6.0M$2.0M$0$0$0
Net Cash Flow$-20.0M$15.0M$-13.0M$-14.0M$23.0M$23.0M$-44.0M$24.0M$10.0M$-5.0M
Free Cash Flow$-45.0M$-32.0M$-34.0M$-32.0M$-20.0M$-24.0M$1.0M$-29.0M$-24.0M$-19.0M

Valuation & Return Ratios

MetricValue
PEG Ratio0.17
EV / EBITDA-5.35
FCF Yield-10.35%
Quick Ratio6.61
Interest Coverage—
Return 1Y-0.93%
Return 3Y-23.57%
Return 5Y-54.81%

Lineage Cell Therapeutics, Inc. (LCTX) financials — frequently asked questions

What is Lineage Cell Therapeutics, Inc.'s annual revenue?

Lineage Cell Therapeutics, Inc. (LCTX) reported annual revenue of $15.0M in its most recent fiscal year.

What is Lineage Cell Therapeutics, Inc.'s net profit?

Lineage Cell Therapeutics, Inc. (LCTX) reported a net loss of $64.0M in its most recent fiscal year.

What is LCTX EV/EBITDA?

Lineage Cell Therapeutics, Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is -5.35. A negative value means EBITDA was negative over the period, so the ratio is not a meaningful valuation measure.

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