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Wave Life Sciences, Inc. cash flow statement

In fiscal 2025, Wave Life Sciences, Inc.'s operations generated −$187m of cash; it spent $718,000 on capital projects, leaving free cash flow of −$188m.

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 2025LTMSept 2026
Cash from operations−13−32−84−23−188−116−89−128−19−151−187−207
Depreciation and amortisation112688775433
Stock-based pay4712162014161710132537
Capital spending26191041111111
Free cash flow−14−37−103−33−192−117−90−129−21−152−188−208
Free cash flow after stock pay−18−44−115−48−212−132−106−146−30−165−213−246
Shares issued1230946016294—5194———

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 Wave Life Sciences, Inc.'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 Wave Life Sciences, Inc.