Financial Statements — LENZ
Balance Sheet
(in millions USD)| Metric | Q2 2026 | Q1 2026 | Q3 2025 | Q2 2025 | Q1 2025 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 | Q3 2021 | Q2 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | 24.21 | 24.77 | 25.40 | 37.61 | 23.04 | 41.05 | 84.04 | 200.36 | 182.99 | 128.51 | 69.81 | 56.39 | 75.17 | 185.07 | 394.80 | 381.97 |
| Accounts Receivable | 0.44 | 0.34 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Inventory | 4.12 | 3.50 | 0.95 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Total Current Assets | 233.28 | 268.37 | 207.00 | 213.60 | 197.86 | 220.70 | 199.35 | 216.67 | 238.78 | 251.17 | 270.31 | 298.49 | 326.64 | 343.76 | 401.23 | 384.75 |
| Property, Plant & Equipment | 1.00 | 1.10 | 1.26 | 1.17 | 0.93 | 0.37 | 0.16 | 0.05 | 12.53 | 17.97 | 33.07 | 13.27 | 10.47 | 9.37 | 5.83 | 2.34 |
| Total Non-current Assets* | 3.31 | 4.17 | 3.71 | 3.73 | 3.39 | 3.30 | 3.29 | 0.65 | 27.45 | 35.87 | 39.69 | 36.35 | 27.14 | 34.85 | 14.92 | 2.35 |
| Total Assets | 236.60 | 272.54 | 210.70 | 217.33 | 201.25 | 224.01 | 202.64 | 217.32 | 266.23 | 287.04 | 310.00 | 334.85 | 353.79 | 378.61 | 416.15 | 387.11 |
| Accounts Payable | 6.65 | 10.93 | 4.32 | 2.85 | 3.66 | 2.76 | 4.41 | 7.13 | 3.75 | 2.72 | 1.99 | 3.97 | 3.62 | 3.07 | 1.76 | 4.05 |
| Total Current Liabilities | 17.21 | 25.81 | 16.32 | 10.40 | 8.57 | 7.71 | 8.58 | 18.89 | 12.54 | 12.27 | 14.34 | 13.52 | 12.07 | 12.77 | 11.27 | 7.86 |
| Total Non-current Liabilities* | 0.12 | 0.24 | 0.46 | 0.57 | 0.67 | 1.02 | 1.14 | 0.27 | 49.67 | 50.63 | 19.43 | 4.87 | 3.26 | 4.54 | 4.75 | 0.06 |
| Total Liabilities | 17.33 | 26.04 | 16.78 | 10.97 | 9.24 | 8.73 | 9.72 | 19.16 | 62.21 | 62.90 | 33.77 | 18.39 | 15.33 | 17.31 | 16.02 | 7.92 |
| Retained Earnings | (300.55) | (268.63) | (191.24) | (174.54) | (159.63) | (132.36) | (122.15) | (111.89) | (344.14) | (321.65) | (266.34) | (217.80) | (193.12) | (167.19) | (122.42) | (107.83) |
| Total Stockholder Equity | 219.26 | 246.49 | 193.93 | 206.37 | 192.01 | 215.28 | 192.92 | 198.17 | 204.02 | 224.15 | 276.22 | 316.45 | 338.46 | 361.30 | 400.13 | 379.18 |
* Derived from reported values
Income Statement
(in millions USD) (except per-share rows)| Metric | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | 5.49 | 1.90 | 1.59 | 12.50 | 5.00 | -- | 0.00 | 0.00 | 0.00 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Cost of Revenue* | 0.28 | 1.08 | -- | 12.50 | 0.00 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Gross Profit | 5.21 | 0.83 | -- | 0.00 | 5.00 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Research & Development | 0.00 | 0.00 | 0.00 | 3.79 | 9.06 | 5.82 | 5.87 | 6.45 | 6.95 | 10.54 | 0.00 | 2.38 | 13.51 | 16.24 | 18.46 | 18.30 | 17.78 | 18.25 | 11.21 | 8.68 |
| Selling, General & Admin | 39.38 | 44.96 | 39.63 | 27.60 | 12.80 | 11.11 | 9.36 | 6.49 | 7.41 | 5.55 | 14.60 | 11.29 | 7.46 | 7.62 | 8.29 | 7.85 | 9.00 | 7.71 | 7.74 | 5.92 |
| Total Operating Expenses | 39.38 | 44.96 | 39.63 | 31.39 | 21.86 | 16.93 | 15.23 | 12.95 | 14.35 | 16.09 | 25.56 | 25.03 | 58.16 | 26.45 | 26.75 | 26.15 | 26.78 | 25.96 | 18.94 | 14.60 |
| Operating Income | (34.17) | (44.13) | (38.46) | (18.89) | (16.86) | (16.93) | (15.22) | (12.94) | (14.35) | (16.09) | (25.55) | (25.03) | (58.16) | (26.45) | (26.75) | (26.15) | (26.78) | (25.96) | (18.94) | (14.60) |
| Pretax Income | (31.91) | -- | (35.89) | (16.70) | (14.41) | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Tax Provision | 0.00 | -- | 0.00 | 0.00 | 0.50 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Net Income | (31.92) | (41.49) | (35.90) | (16.70) | (14.91) | (14.62) | (12.65) | (10.21) | (10.25) | (16.65) | (22.92) | (22.48) | (55.31) | (23.93) | (24.60) | (24.68) | (25.94) | (25.83) | (18.93) | (14.59) |
| Basic EPS | (1.02) | (1.32) | (1.20) | (0.59) | (0.53) | (0.53) | 1.97 | (0.38) | (0.40) | (3.53) | (0.40) | (0.39) | (0.97) | (0.43) | (0.44) | (0.45) | (0.48) | -- | -- | -- |
| Diluted EPS | (1.02) | (1.32) | (1.20) | (0.59) | (0.53) | (0.53) | 1.97 | (0.38) | (0.40) | (3.53) | (0.40) | (0.39) | (0.97) | (0.43) | (0.44) | (0.45) | (0.48) | -- | -- | -- |
* Derived from reported values
Cash Flow Statement
(in millions USD)| Metric | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | (38.71) | (33.58) | (33.02) | (8.59) | (11.51) | (16.05) | (9.08) | (10.58) | (15.79) | (23.94) | (45.88) | (9.40) | (13.65) | (21.07) | (22.43) | (22.22) | (22.09) | (21.24) | (15.59) | (15.41) |
| Capital Expenditures | 0.02 | 0.02 | 0.04 | 0.44 | 0.24 | 0.11 | 0.15 | 0.19 | 0.13 | 0.00 | 0.05 | 4.81 | 5.61 | 0.38 | 1.02 | 0.92 | 1.39 | 3.27 | 0.98 | 3.64 |
| Free Cash Flow* | (38.73) | (33.60) | (33.06) | (9.03) | (11.75) | (16.16) | (9.23) | (10.77) | (15.93) | (23.94) | (45.93) | (14.21) | (19.26) | (21.46) | (23.45) | (23.13) | (23.48) | (24.51) | (16.57) | (19.05) |
| Investing Cash Flow | 37.75 | 33.16 | (89.81) | (4.33) | (0.41) | 18.89 | (11.86) | (62.23) | (98.39) | 18.00 | 47.08 | 63.88 | 72.23 | 43.16 | 13.52 | 3.50 | (88.22) | (170.67) | (0.98) | (3.64) |
| Financing Cash Flow | 0.40 | 0.01 | 122.62 | 0.60 | 26.49 | 0.04 | 0.05 | 29.82 | (2.14) | 171.27 | 0.07 | 0.01 | 0.12 | (0.01) | 0.24 | (0.06) | 0.41 | 165.77 | 0.31 | 31.89 |
* Derived from reported values