Denali Therapeutics Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-508.02	-512.54	-422.77	-145.22	-325.99	-290.58
Depreciation & Amortization	11.7	11.18	7.8	16.73	10.38	8.59
Stock-Based Compensation	97.56	99.63	102.88	108.1	99.85	85.25
Other Adjustments	-8.22	-11.03	-52.53	-47.67	-4.93	5.76
Changes in Accounts Payable	-1.01	-7.52	1.44	2.43	2.27	3.71
Changes in Accrued Expenses	-15.45	0.47	3.25	2.65	10.92	4.73
Changes in Unearned Revenue	-	-	-	-290.53	-34.46	-15.66
Changes in Other Operating Activities	9.3	7.2	12.25	-4.47	-2.76	-13.19
Operating Cash Flow	-412.34	-412.6	-347.69	-357.99	-244.72	-211.39
Capital Expenditures	-6.89	-9.5	-15.91	-12.94	-17.83	-8.5
Purchases of Investments	-426.41	-441.26	-1,230	-1,814	-1,115	-1,423
Proceeds from Sale of Investments	764.29	706.05	1,157	2,076	991.49	1,410
Investing Cash Flow	330.99	255.28	-88.76	249.31	-141.39	-21.63
Issuance of Common Stock	26.93	197.71	516.64	17.82	310.67	19.35
Net Common Stock Issued (Repurchased)	26.93	197.71	516.64	17.82	310.67	19.35
Other Financing Activities	196.17	-8.49	-32.34	-	-	-
Financing Cash Flow	412.02	189.22	484.3	17.82	310.67	19.35
Net Cash Flow	330.68	31.9	47.85	-90.86	-75.43	-213.67
Free Cash Flow	-419.23	-422.1	-363.61	-370.93	-262.55	-219.89
FCF Margin	-	-	-	-112.22%	-	-
Free Cash Flow Per Share	-2.38	-2.44	-2.21	-2.70	-2.09	-1.81
Levered Free Cash Flow	-510.37	-510.71	-413.95	-431.36	-357.47	-310.9
Unlevered Free Cash Flow	-549.9	-553.62	-478.6	-482.88	-372.25	-315.49

Updated May 7, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q