Atea Pharmaceuticals, Inc. (AVIR) Cash Flow Statement
Where AVIR’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- −$132.0M
- Capital expenditures
- $0
- Free cash flow
- −$132.0M
- Returned to shareholders
- $25.5M
- Change in cash
- $31.0M cash at year-end $95.7M
Drawn to scale: where the cash came from and how it was used. Hover for values.
AVIR operating cash flow, capex and free cash flow
AVIR cash flow trends, 2018–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −$7.9M2018 | −$132.0M2025 | — | |
| Capital expenditures | $12,0002018 | $02025 | −100.0% | |
| Free cash flow | −$7.9M2018 | −$132.0M2025 | — | |
| Free cash flow margin | 610.1%2020 | −64.0%2022 | −674.1 pts | |
| Stock-based compensation | $414,0002018 | $20.7M2025 | +74.9%/yr | |
| Share buybacks (net) | $02020 | $25.5M2025 | — | |
| Capex / revenue | 0.1%2020 | 1.0%2022 | +1.0 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
AVIR cash flow by activity
AVIR net income vs operating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
AVIR cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||
| Net income | −$158.3M | −$168.4M | −$136.0M | −$115.9M | $121.2M | −$10.9M | −$14.0M | −$9.1M |
| Depreciation & amortization | $416,000 | $416,000 | $416,000 | $260,000 | $29,000 | $19,000 | $17,000 | $17,000 |
| Stock-based compensation | $20.7M | $51.8M | $49.4M | $46.7M | $39.6M | $7.5M | $624,000 | $414,000 |
| Change in working capital | $16.5M | −$7.5M | $16.2M | −$46.6M | −$247.8M | $300.2M | $579,000 | $725,000 |
| Other non-cash items | −$11.3M | −$11.8M | −$15.4M | −$5.5M | $0 | $0 | $0 | $0 |
| Cash from operating activities | −$132.0M | −$135.5M | −$85.4M | −$121.0M | −$87.0M | $296.7M | −$12.8M | −$7.9M |
| Investing activities | ||||||||
| Capital expenditures | $0 | $0 | $0 | −$1.9M | −$4,000 | −$26,000 | −$2,000 | −$12,000 |
| Investments (net) | $188.8M | $56.1M | $40.3M | −$455.4M | −$4,000 | −$26,000 | −$2,000 | −$12,000 |
| Acquisitions & other investing | $0 | $0 | $0 | $1.9M | $4,000 | $26,000 | $2,000 | $12,000 |
| Cash from investing activities | $188.8M | $56.1M | $40.3M | −$455.4M | −$4,000 | −$26,000 | −$2,000 | −$12,000 |
| Financing activities | ||||||||
| Share repurchases & issuance (net) | −$25.5M | $0 | — | — | $1.5M | $531.7M | — | — |
| Shares issued | $58,000 | $0 | $0 | $230,000 | $1.5M | $531.7M | $106.6M | $27.5M |
| Other financing | −$284,000 | $267,000 | $257,000 | $140,000 | −$1.5M | −$531.7M | −$106.6M | $0 |
| Cash from financing activities | −$25.7M | $267,000 | $257,000 | $370,000 | $1.5M | $531.7M | −$15,000 | $27.5M |
| Summary | ||||||||
| Net change in cash | $31.0M | −$79.1M | −$44.8M | −$576.0M | −$85.5M | $828.5M | −$12.8M | $19.6M |
| Cash at end of period | $95.7M | $64.7M | $143.8M | $188.7M | $764.7M | $850.2M | $21.8M | $34.6M |
| Free cash flow | −$132.0M | −$135.5M | −$85.4M | −$122.9M | −$87.0M | $296.7M | −$12.8M | −$7.9M |
| Free cash flow margin | — | — | — | −64.0% | −24.8% | 610.1% | — | — |
| Capex / revenue | — | — | — | 1.0% | 0.0% | 0.1% | — | — |
| Operating cash flow / net income | — | — | — | — | −0.72 | — | — | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | −$32.9M | −$45.4M | −$44.9M | −$42.0M | −$37.2M | −$34.3M | −$33.5M | −$31.2M | −$40.5M | −$63.2M | −$39.2M | −$33.1M |
| Depreciation & amortization | $104,000 | $104,000 | $104,000 | $104,000 | $104,000 | $104,000 | $104,000 | $104,000 | $104,000 | $104,000 | $104,000 | $104,000 |
| Stock-based compensation | $3.4M | $3.7M | $4.6M | $4.5M | $4.7M | $7.0M | $14.3M | $12.2M | $12.7M | $12.6M | $12.2M | $12.4M |
| Change in working capital | −$7.1M | −$4.2M | $19.1M | −$1.9M | $841,000 | −$1.6M | −$8.5M | −$1.6M | −$11.5M | $14.1M | $9.4M | $7.4M |
| Other non-cash items | −$542,000 | −$581,000 | −$7.2M | −$1.1M | −$1.3M | −$1.7M | −$2.7M | −$2.6M | −$3.0M | −$3.5M | −$4.3M | −$4.3M |
| Cash from operating activities | −$37.1M | −$46.4M | −$28.2M | −$40.4M | −$32.9M | −$30.6M | −$30.4M | −$23.0M | −$42.2M | −$39.9M | −$21.8M | −$17.6M |
| Investing activities | ||||||||||||
| Capital expenditures | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Investments (net) | $34.3M | $29.7M | $46.6M | $41.3M | $15.3M | $85.6M | −$3.4M | −$122.0M | $124.7M | $56.8M | $27.8M | −$58.5M |
| Acquisitions & other investing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash from investing activities | $34.3M | $29.7M | $46.6M | $41.3M | $15.3M | $85.6M | −$3.4M | −$122.0M | $124.7M | $56.8M | $27.8M | −$58.5M |
| Financing activities | ||||||||||||
| Share repurchases & issuance (net) | $746,000 | $132,000 | $25.5M | −$11.4M | −$13.6M | −$485,000 | — | $0 | — | — | — | — |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$746,000 | $125,000 | −$25.5M | $121,000 | −$485,000 | $138,000 | $0 | $117,000 | $0 | $150,000 | $0 | $92,000 |
| Cash from financing activities | $0 | $257,000 | $0 | −$11.3M | −$14.1M | −$347,000 | $0 | $117,000 | $0 | $150,000 | $0 | $92,000 |
| Summary | ||||||||||||
| Net change in cash | −$2.8M | −$16.4M | $18.4M | −$10.4M | −$31.7M | $54.7M | −$33.8M | −$144.9M | $82.5M | $17.1M | $5.9M | −$76.0M |
| Cash at end of period | $76.5M | $79.3M | $95.7M | $77.3M | $87.7M | $119.4M | $64.7M | $98.5M | $243.4M | $160.9M | $143.8M | $137.9M |
| Free cash flow | −$37.1M | −$46.4M | −$28.2M | −$40.4M | −$32.9M | −$30.6M | −$30.4M | −$23.0M | −$42.2M | −$39.9M | −$21.8M | −$17.6M |
| Free cash flow margin | — | — | — | — | — | — | −7,307.0% | — | — | — | — | — |
| Capex / revenue | — | — | — | — | — | — | 0.0% | — | — | — | — | — |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported; data from EODHD.
AVIR cash generation
In fiscal 2025 (ended December 31, 2025), Atea Pharmaceuticals generated -$132.0 million of cash from operations and spent $0 on capital expenditures, leaving free cash flow of -$132.0 million. It returned $25.5 million to shareholders through dividends ($0) and net share buybacks ($25.5 million). Cash and equivalents rose by $31.0 million over the year.
Related: AVIR income statement, AVIR balance sheet. See the AVIR stock overview for the latest quote and news.
AVIR cash flow FAQ
What is Atea Pharmaceuticals's free cash flow?
Atea Pharmaceuticals's free cash flow was -$132.0 million in fiscal 2025: -$132.0 million of operating cash flow minus $0 of capital expenditures It was -$135.5 million a year earlier..
How much cash does Atea Pharmaceuticals generate from operations?
Atea Pharmaceuticals generated -$132.0 million of cash from operating activities in fiscal 2025.
How much stock does Atea Pharmaceuticals buy back?
Atea Pharmaceuticals spent $25.5 million on net share repurchases in fiscal 2025.