Persistent cash burn is highlighted by quarterly free cash flow outflows often exceeding $35 million, leaving the firm with only $41.0 million in cash and equivalents as of 2026Q1.
| Cash from Operations | -170.26M | -171.27M | -3.47M | -159.16M | -187.03M | -188.89M | -176.36M | -144.83M | -51.04M | -5.75M | 20K |
| Operating CF Margin % | - | -353.34% | -3.02% | - | - | - | - | - | - | - | - |
| Operating CF Growth % | -187% | -4838.47% | 97.82% | 14.9% | 0.98% | -7.1% | -21.77% | -183.74% | -788.49% | -28825% | - |
| Net Income | -180.4M | -170.37M | -56.53M | -179.82M | -229.38M | -234M | -243.36M | -180.31M | -146.97M | -6.77M | -83K |
| Depreciation & Amortization | 892K | 1M | 4.15M | 4.38M | 4.43M | 5.17M | 4.27M | 3.09M | 297K | 0 | 0 |
| Stock-Based Compensation | 14.45M | 10.55M | 20.62M | 28.52M | 42.55M | 32.01M | 38.75M | 20.82M | 30.95M | 32K | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | -158K | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 3.2M | 1.18M | -11.17M | 2.6M | -177K | 7.17M | 27.24M | 1.45M | 49.66M | 32K | 103K |
| Working Capital Changes | -8.41M | -13.63M | 39.46M | -14.84M | -4.46M | 774K | -3.1M | 10.12M | 15.02M | 994K | 103K |
| Change in Receivables | -2.67M | -6.89M | -5.34M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 4.35M | -2.75M | -1.66M | 3.99M | -1.81M | -4.43M | 6.98M | -1.4M | 2.08M | 57K | 103K |
| Cash from Investing | 175.9M | 156.36M | 29.02M | -110.97M | -1.03M | -117.43M | 215.34M | -147.14M | -144.71M | 0 | 0 |
| Capital Expenditures | -53K | -79K | 0 | 0 | -475K | -1.55M | -24.88M | -2.97M | -21.21M | 0 | 0 |
| CapEx % of Revenue | 0.1% | 0.16% | - | - | - | - | - | - | - | - | - |
| Acquisitions | 0 | 0 | 0 | 0 | -65K | 0 | 23.38M | 0 | -17.72M | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | 65K | -75K | -23.38M | -3.6M | 17.72M | 0 | 0 |
| Cash from Financing | 6.43M | 6.42M | -11.49M | 190.15M | 117.09M | 3.33M | 312.54M | 321.58M | 300.86M | 6M | 40K |
| Debt Issued (Net) | 0 | 0 | -12.58M | -11.61M | -5.81M | 0 | 193.6M | 28.22M | -40K | 6M | 40K |
| Equity Issued (Net) | 6.43M | 6.42M | 1.09M | 201.32M | 119.95M | 0 | 117.11M | 291.31M | 303.04M | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 629K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 0 | 0 | 0 | 444K | 2.95M | 3.33M | 1.83M | 2.04M | -2.14M | 0 | 0 |
| Net Change in Cash | 12.01M | -8.34M | 13.96M | -79.86M | -71.49M | -303.15M | 351.53M | 29.67M | 105.1M | 255K | 0 |
| Free Cash Flow | -170.32M | -171.34M | -3.47M | -159.16M | -187.51M | -190.51M | -201.24M | -151.4M | -72.25M | -5.75M | 20K |
| FCF Margin % | -306.67% | -353.5% | -3.02% | - | - | - | - | - | - | - | - |
| FCF Growth % | -514.22% | -4840.74% | 97.82% | 15.12% | 1.58% | 5.33% | -32.92% | -109.54% | -1157.7% | -28825% | - |
| FCF per Share | -0.73 | -0.75 | -0.02 | -0.71 | -2.22 | -2.55 | -2.94 | -2.77 | -1.20 | -0.23 | 0.00 |
| FCF Conversion (FCF/Net Income) | 0.94x | 1.01x | 0.06x | 0.89x | 0.82x | 0.81x | 0.72x | 0.80x | 0.35x | 0.85x | -0.24x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 12.74M | 0 | 1.48M | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Liquidity and clinical funding
According to recent financial disclosures, GOSS exhibits a volatile relationship between net income and operating cash flow, with the OCF/NI ratio fluctuating from 0.69 to 2.36, primarily driven by the timing of non-recurring collaboration milestones rather than consistent operational cash generation from core business activities.
The wide variance in the OCF/NI ratio suggests that net income is an unreliable proxy for the company's actual cash position. Investors should monitor how future milestone recognition may continue to decouple accounting earnings from the underlying cash burn required to fund the PROSERA trial.
As reported in quarterly filings, GOSS maintains a consistent pattern of negative free cash flow, with quarterly outflows frequently exceeding $35 million, highlighting the company's reliance on external financing to sustain its clinical-stage development pipeline in the absence of any recurring commercial product revenue streams.
The trajectory of FCF remains deeply negative, reflecting the high fixed costs of R&D and clinical trial execution. This trend appears unsustainable without either a significant reduction in operational overhead or the successful realization of further non-dilutive partnership payments.
Based on reported figures, working capital changes have been a significant source of cash flow volatility, including a $63.8 million inflow in 2024Q2 followed by a $9.9 million outflow in 2025Q2, illustrating the sensitivity of the company's cash position to the timing of collaboration-related receivables.
These fluctuations suggest that the company's liquidity is highly dependent on the administrative timing of milestone payments rather than operational efficiency. Analysts should view these working capital swings as temporary liquidity events rather than indicators of improved underlying business performance.
Data from recent statements indicates that stock-based compensation (SBC) has consistently added back between $2.4 million and $6.3 million to operating cash flow per quarter, effectively masking the true magnitude of the company's cash-based operational expenses and diluting the impact of the reported net loss.
While SBC is a non-cash expense, its consistent presence suggests that the company relies on equity-based incentives to manage its cash burn. Investors should consider the impact of this ongoing dilution when evaluating the true cost of maintaining the current clinical development trajectory.
Quick answers to the most common questions about buying GOSS stock.
Gossamer Bio, Inc. (GOSS) generated $-171.3M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Gossamer Bio, Inc. (GOSS) reported negative free cash flow of $171.3M in 2025, indicating capital requirements exceeded cash from operations.
Gossamer Bio, Inc. (GOSS) spent $0.1M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.