ALUMIS INC.

For the period ended Dec 31, 2025. Filed Mar 19, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Mar 19, 2026

ALMS$6.40-2.3%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

CONSOLIDATED STATEMENTS OF CASH FLOWS


· · Year Ended December 31,
(in thousands) · · 2025 · · 2024
Cash flows from operating activities · · · ·
Net loss	$(243,325)	$(294,233)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	43,524	19,457
Net accretion of discounts on marketable securities	(5,298)	(3,685)
Depreciation and amortization	3,496	3,152
Non-cash lease expense	1,701	60
Loss on disposal of fixed assets	—	5
Change in fair value of derivative liability	—	5,406
Gain on bargain purchase in connection with the ACELYRIN Merger	(187,907)	—
Impairment of long-lived assets	529	—
Changes in operating assets and liabilities:
Research and development prepaid expenses	11,473	(10,763)
Other prepaid expenses and other assets	17,229	(2,870)
Other assets, non-current	(5,535)	—
Accounts payable	(6,036)	8,506
Deferred revenue	4,069	—
Research and development accrued expenses	2,087	18,203
Other accrued expenses and current liabilities	6,036	3,542
Operating lease liabilities	(3,212)	(1,858)
Other liabilities, non-current	207	—
Deferred tax liability	(8,561)	—
Net cash used in operating activities	(369,523)	(255,078)
Cash flows from investing activities
Maturities of marketable securities	447,955	128,000
Purchases of marketable securities	(209,167)	(240,058)
Purchases of property and equipment	(653)	(1,732)
Cash, cash equivalents and restricted cash acquired in connection with the ACELYRIN Merger	49,742	—
Net cash provided by (used in) investing activities	287,877	(113,790)
Cash flows from financing activities
Proceeds from issuance of redeemable convertible preferred stock and derivative liability, net of issuance costs	—	258,461
Proceeds from initial public offering, net of underwriter discounts and commissions and other offering costs	—	193,316
Proceeds from a private placement transaction	—	40,000
Proceeds from issuance of common stock upon exercise of stock options	489	596
Repurchase of common stock shares issued upon early exercised restricted common stock	(17)	(6)
Proceeds from issuance of common stock under the 2024 ESPP	1,595	—
Net cash provided by financing activities	2,067	492,367
Net (decrease) increase in cash, cash equivalents and restricted cash	(79,579)	123,499
Cash, cash equivalents and restricted cash at beginning of period	170,632	47,133
Cash, cash equivalents and restricted cash at end of period	$91,053	$170,632
Supplemental disclosures:
Conversion of 168,489,871 shares of redeemable convertible preferred stock upon the closing of initial public offering	$—	$639,237
Equity consideration transferred in connection with the ACELYRIN Merger	$238,077	$—
Vesting of early exercised stock options and unvested restricted shares of common stock	$673	$1,174
Right-of-use assets obtained in exchange for operating lease liabilities	$1,776	$—
Recognition of derivative liability upon issuance of redeemable convertible preferred stock	$—	$8,913
Settlement of derivative liability upon issuance of redeemable convertible preferred stock	$—	$(14,319)

Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	$89,670	$169,526
Restricted cash	82	—
Restricted cash, non-current	1,301	1,106
Total cash, cash equivalents and restricted cash	$91,053	$170,632

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.