PepGen (PEPG) Cash Flow: Operating & Free Cash Flow

PepGen Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for PepGen Inc. (PEPG) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Operating Activities
Net Income	-89.66	-89.98	-78.63	-69.10	-27.28	-1.89	-1.35
Depreciation & Amortization	5.15	5.25	0.85	0.49	0.18	0.11	0.11
Stock Based Compensation	10.61	11.46	7.05	4.76	1.53	0.12	0.00
Change in Working Capital	-6.22	-5.25	1.95	4.51	2.77	0.01	0.30
Change in Accounts Receivable	0.00	0.00	0.03	4.18	-4.34	-0.17	-0.11
Change in Accounts Payable	-0.94	0.72	-0.37	-1.41	2.51	0.33	0.06
Change in Other Working Capital	-5.29	-4.31	2.29	1.73	4.61	-0.15	0.35
Other Operating Activities	-1.51	-3.86	-0.22	0.08	0.20	0.00	0.06
Net Cash from Operating Activities	-81.64	-82.37	-69.00	-59.27	-22.60	-1.65	-0.89
Investing Activities
Capital Expenditures	-0.26	-0.50	-2.60	-3.76	-0.50	-0.01	-0.03
Purchases of Investments	-93.97	-145.17	-29.40	0.00	0.00	0.00	0.00
Sales/Maturities of Investments	79.00	108.00	0.00	0.00	0.00	0.00	0.00
Net Cash from Investing Activities	-15.24	-37.67	-32.00	-3.76	-0.50	-0.01	-0.03
Financing Activities
Common Stock Issued	108.39	89.26	0.00	114.27	0.00	0.00	2.79
Other Financing Activities	-0.41	-0.51	-0.19	-2.07	147.66	7.95	0.00
Net Cash from Financing Activities	107.98	88.75	-0.19	112.19	147.66	7.95	2.79
Summary
Effect of Forex Changes on Cash	-0.02	-0.06	0.29	-0.32	0.03	0.00	0.00
Net Change in Cash	11.09	-31.35	-100.90	48.86	124.59	6.29	1.88
Cash at Beginning of Period	50.97	82.32	183.23	134.37	9.78	3.49	1.61
Cash at End of Period	62.06	50.97	82.32	183.23	134.37	9.78	3.49
Free Cash Flow	-81.90	-82.87	-71.60	-63.02	-23.10	-1.66	-0.91
Supplemental Disclosures
Income Taxes Paid	-	0.07	2.70	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About PepGen Cash Flow

What is PepGen's free cash flow?

PepGen had negative free cash flow of $81.90M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of −$81.64M minus $264.00K of capital expenditures.

How much does PepGen spend on capital expenditures?

PepGen spent $264.00K on capital expenditures in fiscal 2025, compared with $497.00K a year earlier.

Does PepGen pay dividends or buy back shares?

PepGen's cash flow statement for fiscal 2025 shows no dividend payments or share repurchases.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition