Arcus Biosciences, Inc.
For the period ended Dec 31, 2025. Filed Feb 25, 2026.
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FY2025 · Filed Feb 25, 2026
RCUS$18.67-1.5%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash flow from operating activities | |||
| Net loss | $(353) | $(283) | $(307) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Stock-based compensation expense | 60 | 76 | 73 |
| Depreciation and amortization | 10 | 10 | 8 |
| Noncash lease expense | 7 | 7 | 8 |
| Impairment on right-of use assets | — | 20 | — |
| Amortization of discounts on marketable securities | (13) | (25) | (19) |
| Other items, net | 1 | 3 | 2 |
| Changes in operating assets and liabilities: | |||
| Receivable from collaboration partners ($6, $14 and $19 from a related party) | 9 | 28 | 15 |
| Other assets ($—, $6 and ($4) from a related party) | 5 | 22 | (14) |
| Accounts payable ($24, $—, and $— to a related party) | 24 | 3 | (1) |
| Deferred revenue (($240), ($56) and ($77) to a related party) | (240) | (56) | (68) |
| Other liabilities | 8 | 25 | (3) |
| Net cash used in operating activities | (482) | (170) | (306) |
| Cash flow from investing activities | |||
| Purchases of marketable securities | (1,076) | (1,043) | (788) |
| Proceeds from maturities of marketable securities | 1,073 | 929 | 982 |
| Proceeds from sales of marketable securities | 71 | 36 | 24 |
| Purchases of property and equipment | (2) | (6) | (24) |
| Net cash provided by (used in) investing activities | 66 | (84) | 194 |
| Cash flow from financing activities | |||
| Proceeds from issuance of common stock ($14, $228 and $20 from a related party), net | 429 | 228 | 25 |
| Proceeds from debt issuances, net | 49 | 47 | — |
| Proceeds from issuance of common stock pursuant to equity award plans | 10 | 9 | 8 |
| Payments of employee taxes related to net settlement of equity awards | — | (7) | — |
| Net cash provided by financing activities | 488 | 277 | 33 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 72 | 23 | (79) |
| Cash, cash equivalents and restricted cash at beginning of period | 153 | 130 | 209 |
| Cash, cash equivalents and restricted cash at end of period | $225 | $153 | $130 |
| Supplemental disclosure of cash flow information | |||
| Income taxes paid | $— | $— | $5 |
| Interest paid | $7 | $1 | $— |
| Non-cash investing and financing activities: | |||
| Unpaid portion of property and equipment purchases included in Accounts payable and Other current liabilities | $— | $— | $2 |
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