Zentalis Pharmaceuticals (ZNTL) Cash Flow: Operating & Free Cash Flow

Zentalis Pharmaceuticals 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 Zentalis Pharmaceuticals, Inc. (ZNTL) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018
Operating Activities
Net Income	-137.06	-165.87	-292.19	-237.11	-166.09	-118.55	-46.38	-23.43
Depreciation & Amortization	0.74	1.29	1.39	1.43	0.54	0.16	0.11	0.05
Deferred Income Tax	0.00	0.00	-0.85	-0.77	-2.51	0.02	0.00	2.37
Stock Based Compensation	20.72	67.27	54.82	46.84	35.74	23.15	0.62	0.31
Change in Working Capital	-9.12	-16.54	5.86	13.25	16.61	7.84	6.51	-1.18
Change in Accounts Receivable	5.00	-5.00	0.00	0.00	0.41	-0.28	0.78	-0.25
Change in Inventory	0.00	0.00	0.00	0.00	0.00	-5.52	0.00	-1.86
Change in Accounts Payable	-17.32	-18.02	10.92	15.53	13.96	14.31	7.12	0.98
Change in Other Working Capital	3.19	-47.43	15.05	-2.28	2.64	-0.67	-1.39	-0.04
Other Operating Activities	-0.53	-47.43	15.05	12.61	-40.89	0.56	0.00	-2.37
Net Cash from Operating Activities	-125.25	-170.86	-207.82	-163.75	-154.09	-86.83	-39.14	-24.25
Investing Activities
Capital Expenditures	0.00	-0.22	-0.58	-2.55	-6.11	-0.76	-0.35	-0.23
Acquisitions	0.00	0.07	0.00	0.11	-14.32	18.42	0.00	0.00
Purchases of Investments	-139.49	-127.96	-549.18	-533.16	-363.51	-400.98	0.00	0.00
Sales/Maturities of Investments	270.41	304.68	505.31	421.53	365.82	116.91	0.00	0.00
Other Investing Activities	0.70	0.00	0.00	-0.11	-14.32	-18.42	0.00	0.00
Net Cash from Investing Activities	131.62	176.56	-44.46	-114.18	-18.12	-284.83	-0.35	-0.23
Financing Activities
Common Stock Issued	5.69	0.35	237.30	261.04	179.67	327.79	0.00	0.02
Common Stock Repurchased	-9.98	-0.24	0.00	0.00	-1.15	0.00	0.00	0.00
Other Financing Activities	0.00	-0.24	0.00	0.00	-1.15	32.65	81.83	9.46
Net Cash from Financing Activities	-4.28	0.11	237.30	261.04	178.52	360.44	81.83	9.47
Summary
Net Change in Cash	2.09	5.81	-14.98	-16.89	6.31	-11.22	42.34	-15.01
Cash at Beginning of Period	36.53	30.72	45.70	62.58	56.27	67.49	25.15	40.16
Cash at End of Period	38.62	36.53	30.72	45.70	62.58	56.27	67.49	25.15
Free Cash Flow	-125.25	-171.08	-208.41	-166.30	-160.20	-87.58	-39.50	-24.48
Supplemental Disclosures
Income Taxes Paid	-	0.36	0.14	0.01	0.02	0.02	-	-

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

Frequently Asked Questions About Zentalis Pharmaceuticals Cash Flow

What is Zentalis Pharmaceuticals's free cash flow?

Zentalis Pharmaceuticals had negative free cash flow of $125.25M in fiscal 2025 (fiscal year ended Dec 31, 2025).

Does Zentalis Pharmaceuticals pay dividends or buy back shares?

Yes. In fiscal 2025 Zentalis Pharmaceuticals returned $9.98M in share buybacks to shareholders, according to its cash flow statement.

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