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Voyager Therapeutics, Inc. cash flow statement

In fiscal 2025, Voyager Therapeutics, Inc.'s operations generated −$132m of cash; it spent $2.6m on capital projects, leaving free cash flow of −$135m.

Cash flow statement

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

Fiscal year2015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash from operations41−42−61−1649−97−54−1378−15−132−121
Depreciation and amortisation112234564544
Stock-based pay46916161511911151512
Capital spending1544812223431
Free cash flow40−48−65−2041−109−55−1575−19−135−121
Free cash flow after stock pay36−54−75−3625−124−66−2464−34−150−133
Shares issued——58——————93——

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 Voyager Therapeutics, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Voyager Therapeutics, Inc.