Sunday 18 October 2026 Export LCTX’s income statement to Excel — free account

Lineage Cell Therapeutics, Inc.

Lineage Cell Therapeutics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $14.6 million, up 53.2% from fiscal 2024. In the quarter to June 2026, revenue fell 61.3%, EPS grew 104.8%, free cash flow fell 32.4% and total debt fell 68.8%, each against the same quarter a year earlier. Insiders bought in the last twelve months.

0.98 0.01 −1.01%

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Market cap: $250.5M
P/E: 0.0×
Fwd P/E: −17.0×
Dividend yield: —
F-score: 5/9
Altman Z: −2.91
Beneish M: −3.98
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.02

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	1	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 23.42%

Capital & Financial Ratios $m

Market Cap 250.45

Revenue 13.08

Net Income (32.10)

Free Cash Flow (24.39)

Net Debt (50.81)

Current Ratio 6.61

Debt/Equity 0.00

P/E ratio 0.00

Fwd P/E (17.00)

P/S ratio 18.69

P/B ratio 4.09

Past 5Y EPS Growth —

This Y EPS Growth 79.08%

Next Y EPS Growth (65.86%)

Next Y revenue growth 4.36%

Next 5Y EPS Growth 69.01%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 12.09%

10-year low 10-year high

P/B against its own 10 years 87.43%

10-year low 10-year high

EV/Sales against its own 10 years 14.08%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2023	Powerpack
2022	Powerpack
2021	Powerpack

special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	35	48	56	51
Receivables	1	1	1	1
Inventory	—	—	—	—
Other	—	—	—	—
	38	51	59	53

	2023	2024	2025	Q'26
Payables	6	5	7	5
ST’ Debt	—	—	—	—
Other	—	7	3	2
	18	14	11	8

Compound Annual Growth %

	10y	5y	3y
Sales	7.54%	51.46%	(0.33%)
Cash Flow	0.00%	0.00%	0.00%
Earnings	0.00%	0.00%	0.00%
Book Value	(5.52%)	(14.55%)	(15.54%)

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	2	1	—	—	—
’25	2	3	4	7	15
’24	1	1	4	3	9
’23	2	3	1	2	9
’22	5	5	3	2	15
’21	0	1	2	1	4
’20	1	0	1	0	2

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(8)	(7)	—	—	—
’25	(5)	(6)	(4)	(5)	(19)
’24	(6)	(5)	(6)	(6)	(23)
’23	(11)	(6)	(5)	(6)	(29)
’22	22	(7)	(5)	(8)	1
’21	(7)	(5)	(5)	(6)	(24)
’20	(5)	(4)	(5)	(6)	(20)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(8)	(7)	—	—	—
’25	(5)	(6)	(4)	(5)	(19)
’24	(6)	(5)	(6)	(7)	(24)
’23	(11)	(7)	(5)	(6)	(29)
’22	22	(7)	(6)	(8)	1
’21	(7)	(6)	(5)	(6)	(24)
’20	(5)	(4)	(5)	(6)	(20)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(0.02)	0.01	—	—	—
’25	(0.02)	(0.13)	(0.13)	0.00	(0.28)
’24	(0.04)	(0.03)	(0.02)	(0.01)	(0.09)
’23	(0.03)	(0.03)	(0.04)	(0.03)	(0.12)
’22	(0.04)	(0.04)	(0.04)	(0.03)	(0.15)
’21	(0.01)	(0.03)	(0.05)	(0.17)	(0.26)
’20	(0.06)	(0.04)	(0.05)	0.01	(0.14)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	1.77	1.84	0.66	0.53	0.58	1.55	1.02	0.90	0.48	0.37	Analyst estimates 2026–2028 Powerpack
	High	3.51	3.32	2.76	1.73	2.01	3.13	2.58	1.58	1.61	2.09
People
People	Employees	102	95	79	55	55	61	78	75	77	77
	Revenue/emp, $m	0.06	0.04	0.06	0.06	0.03	0.07	0.19	0.12	0.12	0.19
Income, $m
Income, $m	Revenue	6	3	5	4	2	4	15	9	9	15
	Gross margin, %	93.96	95.14	93.95	88.28	78.92	67.15	95.05	92.50	96.48	99.00
	EBT	19	(23)	(47)	(19)	(22)	(43)	(26)	(23)	(19)	(69)
	EBT margin, %	314.38	(673.48)	(944.87)	(547.20)	(1,200.66)	(996.77)	(175.56)	(260.28)	(195.62)	(471.61)
	Net income	34	(20)	(46)	(12)	(21)	(43)	(26)	(21)	(19)	(63)
	Depreciation	5	4	3	3	2	1	1	1	1	15
Per share, $
Per share, $	Revenue	0.06	0.03	0.04	0.02	0.01	0.03	0.09	0.05	0.05	0.06
	Earnings	0.35	(0.17)	(0.36)	(0.08)	(0.14)	(0.26)	(0.15)	(0.12)	(0.09)	(0.28)
	Cash flow	(0.43)	(0.27)	(0.24)	(0.22)	(0.13)	(0.14)	0.01	(0.17)	(0.12)	(0.08)
	Capex	(0.03)	(0.01)	(0.01)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	Free cash flow	(0.46)	(0.28)	(0.25)	(0.22)	(0.13)	(0.15)	0.00	(0.17)	(0.12)	(0.08)
	Book value	1.34	1.43	0.73	0.76	0.63	0.55	0.42	0.36	0.38	0.19
	Shares, m	97	114	127	146	150	165	170	173	200	230
Valuation, ×
Valuation, ×	P/E	10.12	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	P/S	52.25	66.21	23.15	36.85	144.62	92.84	14.20	21.04	10.54	26.40
	P/B	2.37	1.39	1.25	1.16	2.78	4.43	2.90	3.03	1.30	8.87
	EV/Sales	48.66	55.21	17.01	28.13	121.87	79.41	10.27	17.08	5.51	22.57
	EV/FCF	(6.43)	(6.03)	(2.63)	(3.06)	(11.24)	(14.42)	233.83	(5.23)	(2.21)	(16.90)
Cash, $m
Cash, $m	Operating cash flow	(42)	(31)	(31)	(32)	(20)	(24)	1	(29)	(23)	(19)
	Capex	(3)	(1)	(1)	0	0	0	0	(1)	(1)	(1)
	Free cash flow	(45)	(32)	(32)	(32)	(20)	(24)	1	(29)	(24)	(19)
Balance, $m
Balance, $m	Working capital	17	36	30	51	36	64	41	20	37	48
	Total debt	1	0	0	0	0	0	0	0	0	0
	Net debt	(21)	(38)	(31)	(31)	(42)	(58)	(58)	(35)	(48)	(56)
	Shareholders’ equity	131	164	92	111	95	91	72	62	77	43
Returns, %
Returns, %	ROA	28.30	(12.65)	(33.46)	(10.31)	(17.69)	(30.46)	(17.62)	(19.13)	(17.37)	(56.27)
	ROIC	(33.73)	(19.26)	(42.40)	(30.14)	(30.84)	(94.43)	(99.51)	(58.07)	(45.86)	0.00
	ROE	32.44	(13.55)	(35.86)	(11.51)	(20.01)	(46.25)	(32.27)	(32.08)	(26.77)	(105.57)

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
PRLD Prelude Therapeutics Incorporated	$265.0M	— (loss-making)	— (loss-making)	+42.60% (above 0%: growing)	n/m	+40.32% (above 0%: growing)	100.00%	(270.93%)	Compare
CABA Cabaletta Bio, Inc.	$262.8M	— (loss-making)	—	—	n/m	−35.72% (below 0%: shrinking)	0.00%	0.00%	Compare
XFOR X4 Pharmaceuticals, Inc.	$261.8M	— (loss-making)	— (loss-making)	+346.33% (above 0%: growing)	n/m	+13.76% (above 0%: growing)	81.64%	(186.13%)	Compare
RCKT Rocket Pharmaceuticals, Inc.	$259.1M	— (loss-making)	—	—	n/m	+19.16% (above 0%: growing)	0.00%	0.00%	Compare
VNDA Vanda Pharmaceuticals Inc.	$256.4M	— (loss-making)	— (loss-making)	−3.92% (below 0%: shrinking)	n/m	−101.02% (below 0%: shrinking)	92.95%	(126.28%)	Compare
IKT Inhibikase Therapeutics, Inc.	$255.4M	— (loss-making)	— (loss-making)	−100.00% (below 0%: shrinking)	n/m	−123.23% (below 0%: shrinking)	0.00%	0.00%	Compare
LCTX Lineage Cell Therapeutics, Inc.	$250.5M	— (loss-making)	— (loss-making)	−61.34% (below 0%: shrinking)	n/m	−32.40% (below 0%: shrinking)	100.00%	(834.71%)
ACIU AC Immune	$249.4M	— (loss-making)	— (loss-making)	+29.66% (above 0%: growing)	n/m	+4.66% (above 0%: growing)	100.00%	(1,321.50%)	Compare
BBOT BridgeBio Oncology Therapeutics, Inc	$236.5M	— (loss-making)	—	—	n/m	−88.78% (below 0%: shrinking)	—	0.00%	Compare
Median of peers	$257.7M	—	—	+29.66%	—	−15.53%	81.64%	(63.14%)

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Lineage Cell Therapeutics, Inc. (LCTX) key facts

Strength: Lineage Cell Therapeutics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $14.6 million, up 53.2% from fiscal 2024.
Lineage Cell Therapeutics, Inc. (LCTX) is a Biotechnology company in the Healthcare sector, listed on NYSE American.
As of October 16, 2026, LCTX traded at $0.98, a market capitalization of $250.5 million.
Return on equity was −105.6% and debt-to-equity 0.00.
Its Piotroski F-score is 5 out of 9 and its Altman Z-score is −2.91 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.