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Bicycle Therapeutics PLC cash flow statement

In fiscal 2025, Bicycle Therapeutics PLC's operations generated −$250m of cash; it spent $2.4m on capital projects, leaving free cash flow of −$252m.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Cash from operations−1−26−29−18−15−86−61−165−250−175
Depreciation and amortisation0111147765
Stock-based pay1137122732383930
Capital spending11212193122
Free cash flow−3−27−30−19−17−105−64−166−252−177
Free cash flow after stock pay−3−28−33−26−29−132−96−204−291−207
Shares issued———482916249544——

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Bicycle Therapeutics PLC's SEC filings (10-K and 10-Q), retrieved October 31, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Bicycle Therapeutics PLC.