Free cash flow takeaway
A quick read on the company's cash generation and what it means for investors.
Geron reported negative free cash flow for the fourth quarter, with operating cash outflow improving from the prior quarter but remaining higher than the same quarter last year. Revenue declined sharply compared to both periods, while capital expenditure remained minimal.
- Free cash flow was negative, driven by operating cash outflows far exceeding minimal revenue. The negative free cash flow margin reflects the lack of profitability and substantial investment in operations.
- Compared to the previous quarter, operating cash outflow improved, reducing the free cash burn. However, versus the same quarter last year, both operating and free cash outflows increased.
FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
-$168.6M
Trailing twelve-month free cash flow.
Quarter free cash flow
-$41.0M
Free cash flow in the selected fiscal quarter.
Operating cash flow
-$40.9M
Cash generated by operations before capital spending.
CapEx
$64000
Capital spending and related asset purchases.
FCF margin
-178269.6%
The share of revenue converted into free cash flow.
Cash flow trend
A short quarterly history shows whether FCF is scaling with revenue or only spiking for one period.
| Period | Revenue | Operating CF | CapEx | FCF | FCF margin |
|---|---|---|---|---|---|
| 2023-03-31 | $21000 | -$46.4M | $372000 | -$46.7M | -222557.1% |
| 2023-06-30 | $29000 | -$29.6M | $202000 | -$29.8M | -102769.0% |
| 2023-09-30 | $164000 | -$50.8M | $192000 | -$51.0M | -31116.5% |
| 2023-12-31 | $23000 | -$40.9M | $64000 | -$41.0M | -178269.6% |
Cash conversion quality
Checks that separate high-quality free cash flow from accounting noise or working-capital timing.
| FCF / net income | 78.9% | Shows whether accounting earnings convert into cash. |
| CapEx / revenue | 278.3% | Lower capital intensity usually supports FCF margin. |
| Net cash | -$11.9M | Cash and equivalents minus total debt. |
Recent events shaping cash flow
Near-term business events that help explain the free cash flow result.
Operating cash flow improvement
Operating cash outflow decreased sequentially, contributing to a lower free cash burn despite a decline in revenue.
If sustained, this trend could support a path toward narrowing the cash gap.
What the cash flow says
How to interpret the company's free cash flow beyond the headline number.
Free cash flow was negative, driven by operating cash outflows far exceeding minimal revenue. The negative free cash flow margin reflects the lack of profitability and substantial investment in operations.
Compared to the previous quarter, operating cash outflow improved, reducing the free cash burn. However, versus the same quarter last year, both operating and free cash outflows increased.
Monitor the trajectory of operating cash flow as the company continues to invest in pre-commercial activities.