Merus N.V. (MRUS) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 | Q1'21 | Q4'20 |
|---|
| Cash from Operations | -84.92M | -69.23M | -96.46M | -66.66M | -80.42M | 5.63M | -44.39M | -34.89M | -27.53M | -41.59M | -36.74M | -30.51M | -41.26M | -31.73M | -46.4M | -31.6M | -23.07M | -24.3M | 19.34M | -24.34M |
| Operating CF Margin % | -818.59% | -923.7% | -393.99% | -755.52% | -760.68% | 82.3% | -607.16% | -430.86% | -263.8% | -433.18% | -295.25% | -306.32% | -614.3% | -262.12% | -440.41% | -244.5% | -195.52% | -232.78% | 271.57% | -329.73% |
| Operating CF Growth % | -5.59% | -1329.03% | -117.31% | -91.07% | -192.13% | 113.55% | -20.81% | -14.34% | 33.27% | -31.05% | 20.81% | 3.44% | -78.79% | -30.61% | -339.86% | -29.84% | -97.27% | -30.57% | 176.58% | -23.26% |
| Net Income | -95.52M | -158.22M | -96.47M | -30.92M | -99.91M | -50.04M | -34.46M | -60.15M | -23.01M | -32.03M | -39.74M | -81.97M | -24.61M | -5.71M | -18.89M | -14.42M | -14.85M | -27.39M | -10.15M | -27.96M |
| Depreciation & Amortization | 643K | 635K | 581K | 589K | 635K | 640K | 607K | 618K | 659K | 675K | 588K | 312K | 300K | 322K | 351K | 320K | 384K | 383K | 398K | 408K |
| Stock-Based Compensation | 20.97M | 20.35M | 14.82M | 15.86M | 13.49M | 11.69M | 4.79M | 6.71M | 7.32M | 6.45M | 5.75M | 6.01M | 6.53M | 6.66M | 5.33M | 4.8M | 4.33M | 4.56M | 3.4M | 3.04M |
| Deferred Taxes | 0 | -395K | 1.16M | -684K | -294K | -266K | 923K | -511.45K | 2.35M | -687K | -328K | -1.6M | -195K | -161K | 337K | -197K | -80K | -99K | 369K | -120K |
| Other Non-Cash Items | -21.96M | 67.21M | 17.51M | -53.22M | 28.74M | -8.57M | -9.77M | 17.49M | -11.45M | -833K | 4.84M | 44.48M | -18.84M | -42.08M | -7.49M | -13.21M | -6.48M | 4.46M | -12.02M | 5.18M |
| Working Capital Changes | 10.95M | 1.18M | -34.05M | 1.71M | -23.09M | 52.18M | -6.49M | 966.29K | -3.39M | -15.16M | -7.85M | 2.26M | -4.43M | 9.23M | -26.03M | -8.89M | -6.38M | -6.21M | 37.35M | -4.89M |
| Change in Receivables | -2.38M | -1.99M | -12.54M | -223K | 777K | 57.11M | -56.59M | 1.11M | -681K | 1.91M | -631K | -1.2M | 1.02M | -1.53M | 3.55M | -3.27M | 379K | -1.76M | -340K | 515K |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -12.04M | 0 | 0 | 0 | 0 | 0 | -3.42M | 3.1M | 0 | 0 | 1.36M |
| Change in Payables | 0 | 10.34M | 4.43M | -1.66M | 1.55M | -3.06M | 3.04M | 601.86K | -3.64M | 2.61M | -3.45M | 5.15M | -3M | 1.57M | -7.63M | 8.15M | -623K | 2.43M | 756K | -1.7M |
| Cash from Investing | 329K | -7.46M | -8.71M | -77.7M | -133.67M | 3.23M | -12.08M | -1.81M | 8.02M | -24.52M | -8.41M | 856K | -1.14M | 4.05M | -967K | -15.76M | -133.92M | 5.73M | -2.67M | 5.9M |
| Capital Expenditures | -328K | -88K | -171K | -20K | -108K | -1.48M | -63K | 26K | -39K | -349K | -3.62M | -2.11M | -2.33M | -2.86M | -342K | -333K | -277K | -103K | -157K | -429K |
| CapEx % of Revenue | 3.16% | 1.17% | 0.7% | 0.23% | 1.02% | 21.57% | 0.86% | 0.32% | 0.37% | 3.64% | 29.09% | 21.16% | 34.71% | 23.61% | 3.25% | 2.58% | 2.35% | 0.99% | 2.2% | 5.81% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 22.15M | 4.41M | 52K | -1.21M | -6.6M | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 657K | 0 | 0 | 0 | -163K | 0 | 0 | 309.86K | 0 | -22.15M | -4.41M | -52K | 1.21M | 6.6M | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Financing | 6.13M | 333.28M | 6.74M | 8.07M | 10.89M | 444.89M | 30.16M | -1.25M | 162.4M | 65.97M | 217K | -215K | 9.88M | 48.2M | 879K | 127.04M | 2.6M | 1.86M | 150.46M | 38.77M |
| Debt Issued (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity Issued (Net) | 0 | 1000K | 1000K | 0 | 0 | 1000K | 1000K | -1000K | 1000K | 1000K | 217K | -1K | 1000K | 1000K | 879K | 1000K | 1000K | -170K | 1000K | 1000K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4.72K | 0 | 0 | 0 |
| Other Financing | 6.13M | -13.12M | 0 | 8.07M | 10.89M | 10.03M | 7.54M | 3.32K | 253K | 2.17M | 0 | -214K | -81K | 184K | 0 | 7.81M | -13.92M | 2.03M | 4.41M | -1.78M |
| Net Change in Cash | -75.3M | 245.63M | -96.14M | -139.74M | -196.46M | 451.3M | -26.88M | -36.82M | 140.76M | -1.48M | -45.1M | -43.69M | -22.48M | 19.72M | -46.86M | 82.43M | -152.35M | -15.66M | 164.06M | 23.9M |
| Free Cash Flow | -85.25M | -69.32M | -96.63M | -66.68M | -80.69M | 4.16M | -44.45M | -34.81M | -27.57M | -41.94M | -40.36M | -32.62M | -43.59M | -34.59M | -46.74M | -31.93M | -23.35M | -24.4M | 19.19M | -24.77M |
| FCF Margin % | -821.75% | -924.87% | -394.69% | -755.74% | -763.24% | 60.74% | -608.02% | -429.95% | -264.17% | -436.81% | -324.34% | -327.48% | -649.01% | -285.72% | -443.66% | -247.08% | -197.87% | -233.76% | 269.37% | -335.55% |
| FCF Growth % | -5.64% | -1767.52% | -117.39% | -91.53% | -192.69% | 109.91% | -10.13% | -6.72% | 36.75% | -21.23% | 13.64% | -2.16% | -86.65% | -41.77% | -343.61% | -28.94% | -93.91% | -28.61% | 175.51% | -24.52% |
| FCF per Share | -1.13 | -0.97 | -1.40 | -0.97 | -1.18 | 0.07 | -0.77 | -0.60 | -0.51 | -0.87 | -0.87 | -0.70 | -0.95 | -0.79 | -1.07 | -0.79 | -0.61 | -0.64 | 0.53 | -0.85 |
| FCF Conversion (FCF/Net Income) | 1.04x | 0.52x | 1.08x | 2.23x | 0.90x | -0.12x | 1.39x | 0.64x | 1.26x | 1.42x | 1.00x | 0.40x | 1.64x | 5.82x | 2.72x | 2.49x | 1.80x | 1.05x | -2.23x | 1.06x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 2.8M | 0 | 0 | 0 | 3.1M | 0 | 0 | 0 | 0 | 0 | 14K | 130K | 425K | 66K | 87K |