Corvus Pharmaceuticals, Inc. (CRVS) Cash Flow Statement
Where CRVS’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- −$32.8M
- Capital expenditures
- $174,000
- Free cash flow
- −$33.0M
- Returned to shareholders
- —
- Change in cash
- −$4.2M cash at year-end $4.6M
Drawn to scale: where the cash came from and how it was used. Hover for values.
CRVS operating cash flow, capex and free cash flow
CRVS cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −$27.9M2016 | −$32.8M2025 | — | |
| Capital expenditures | $2.2M2016 | $174,0002025 | −24.6%/yr | |
| Free cash flow | −$30.1M2016 | −$33.0M2025 | — | |
| Stock-based compensation | $3.8M2016 | $5.3M2025 | +3.7%/yr | |
| Dividends paid | $02016 | $02017 | — | |
| Share buybacks (net) | $02016 | $02020 | — |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CRVS cash flow by activity
CRVS 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).
CRVS cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | −$15.3M | −$62.3M | −$27.0M | −$41.3M | −$43.2M | −$6.0M | −$46.7M | −$46.9M | −$55.7M | −$36.4M |
| Depreciation & amortization | $105,000 | $85,000 | $151,000 | $367,000 | $460,000 | $632,000 | $743,000 | $847,000 | $842,000 | $594,000 |
| Stock-based compensation | $5.3M | $3.0M | $2.1M | $2.7M | $4.2M | $5.7M | $7.3M | $7.1M | $6.2M | $3.8M |
| Change in working capital | $3.6M | −$1.6M | −$3.6M | $1.4M | −$3.2M | $1.9M | $1.9M | −$1.4M | $2.6M | $3.4M |
| Other non-cash items | −$26.5M | $35.4M | $4.4M | $9.8M | $5.1M | −$37.1M | −$644,000 | −$608,000 | −$195,000 | $648,000 |
| Cash from operating activities | −$32.8M | −$25.4M | −$23.9M | −$27.0M | −$36.7M | −$34.8M | −$37.3M | −$41.0M | −$46.2M | −$27.9M |
| Investing activities | ||||||||||
| Capital expenditures | −$174,000 | $0 | −$34,000 | −$269,000 | −$5,000 | −$76,000 | −$25,000 | −$355,000 | −$266,000 | −$2.2M |
| Investments (net) | −$7.6M | −$27.5M | $14.0M | −$23.3M | $21.6M | $44.8M | $3.3M | −$29.8M | $84.8M | −$42.6M |
| Acquisitions & other investing | $0 | $0 | $1.6M | $269,000 | $0 | $76,000 | $0 | $0 | $266,000 | $2.2M |
| Cash from investing activities | −$7.8M | −$27.5M | $15.5M | −$23.3M | $21.6M | $44.8M | $3.3M | −$30.2M | $84.8M | −$42.6M |
| Financing activities | ||||||||||
| Dividends paid | — | — | — | — | — | — | — | — | $0 | $0 |
| Share repurchases & issuance (net) | — | — | — | — | — | $1.3M | $24,000 | $65.3M | $1.4M | $71.4M |
| Shares issued | $0 | $16.4M | $7.8M | $7.5M | $60.9M | $1.2M | $0 | $64.9M | $0 | $0 |
| Other financing | $36.4M | $32.6M | $12,000 | −$7.5M | $1.2M | −$1.2M | $0 | −$64.9M | $0 | $0 |
| Cash from financing activities | $36.4M | $49.0M | $7.9M | $18,000 | $62.2M | $1.3M | $24,000 | $65.3M | $1.4M | $71.4M |
| Summary | ||||||||||
| Net change in cash | −$4.2M | −$3.9M | −$539,000 | −$50.3M | $47.0M | $11.3M | −$34.0M | −$5.9M | $40.1M | $945,000 |
| Cash at end of period | $4.6M | $8.7M | $12.6M | $13.2M | $63.5M | $16.5M | $5.2M | $39.2M | $45.1M | $5.0M |
| Free cash flow | −$33.0M | −$25.4M | −$24.0M | −$27.3M | −$36.7M | −$34.9M | −$37.3M | −$41.3M | −$46.5M | −$30.1M |
| 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 | −$18.0M | −$13.7M | −$12.3M | −$10.2M | −$8.0M | $15.2M | −$12.1M | −$40.2M | −$4.3M | −$5.7M | −$6.7M | −$6.0M |
| Depreciation & amortization | $34,000 | $29,000 | $26,000 | $28,000 | $29,000 | $22,000 | $20,000 | $21,000 | $21,000 | $23,000 | $28,000 | $30,000 |
| Stock-based compensation | $2.6M | $2.6M | $1.6M | $1.2M | $1.3M | $1.3M | $845,000 | $701,000 | $768,000 | $689,000 | $572,000 | $546,000 |
| Change in working capital | −$2.6M | $57,000 | $1.1M | −$550,000 | $2.9M | $152,000 | −$1.5M | $326,000 | −$545,000 | $219,000 | −$391,000 | −$630,000 |
| Other non-cash items | $2.5M | $582,000 | $446,000 | −$136,000 | −$2.0M | −$24.9M | $4.2M | $32.8M | −$1.5M | −$387,000 | $1.3M | $620,000 |
| Cash from operating activities | −$15.4M | −$10.4M | −$9.2M | −$9.6M | −$5.8M | −$8.3M | −$8.5M | −$6.3M | −$5.5M | −$5.2M | −$5.2M | −$5.4M |
| Investing activities | ||||||||||||
| Capital expenditures | −$582,000 | −$91,000 | −$25,000 | $0 | −$113,000 | −$36,000 | $0 | $0 | $0 | $0 | $0 | $0 |
| Investments (net) | −$383,000 | −$144.8M | $10.9M | −$2.6M | −$20.3M | $4.2M | −$6.1M | −$3.9M | −$17.5M | −$7,000 | −$2.3M | $17.5M |
| Acquisitions & other investing | −$5.0M | $0 | $0 | $0 | $113,000 | $36,000 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash from investing activities | −$6.0M | −$144.8M | $10.9M | −$2.6M | −$20.3M | $4.2M | −$6.1M | −$3.9M | −$17.5M | −$7,000 | −$2.3M | $17.5M |
| Financing activities | ||||||||||||
| Shares issued | $0 | $189.4M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $327,000 |
| Other financing | $166,000 | $1.3M | $20,000 | $360,000 | $35.8M | $279,000 | $18.6M | $50,000 | $30.4M | $0 | $0 | $8,000 |
| Cash from financing activities | $166,000 | $190.7M | $20,000 | $360,000 | $35.8M | $279,000 | $18.6M | $50,000 | $30.4M | $0 | $0 | $335,000 |
| Summary | ||||||||||||
| Net change in cash | −$21.2M | $35.5M | $1.7M | −$11.8M | $9.7M | −$3.7M | $4.1M | −$10.2M | $7.4M | −$5.2M | −$7.5M | $12.4M |
| Cash at end of period | $18.9M | $40.1M | $4.6M | $2.9M | $14.7M | $5.0M | $8.7M | $4.7M | $14.8M | $7.5M | $12.6M | $20.1M |
| Free cash flow | −$16.0M | −$10.5M | −$9.2M | −$9.6M | −$5.9M | −$8.3M | −$8.5M | −$6.3M | −$5.5M | −$5.2M | −$5.2M | −$5.4M |
| Free cash flow margin | — | — | — | — | — | — | −9,619.3% | — | — | — | −2,100.4% | — |
| Capex / revenue | — | — | — | — | — | — | 0.0% | — | — | — | 0.0% | — |
| Operating cash flow / net income | — | — | — | — | — | −0.54 | — | — | — | — | — | — |
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.
CRVS cash generation
In fiscal 2025 (ended December 31, 2025), Corvus Pharmaceuticals generated -$32.8 million of cash from operations and spent $0.2 million on capital expenditures, leaving free cash flow of -$33.0 million. Cash and equivalents fell by $4.2 million over the year.
Related: CRVS income statement, CRVS balance sheet. See the CRVS stock overview for the latest quote and news.
CRVS cash flow FAQ
What is Corvus Pharmaceuticals's free cash flow?
Corvus Pharmaceuticals's free cash flow was -$33.0 million in fiscal 2025: -$32.8 million of operating cash flow minus $0.2 million of capital expenditures It was -$25.4 million a year earlier..
How much cash does Corvus Pharmaceuticals generate from operations?
Corvus Pharmaceuticals generated -$32.8 million of cash from operating activities in fiscal 2025.
How much does Corvus Pharmaceuticals spend on capital expenditures?
Corvus Pharmaceuticals spent $0.2 million on capital expenditures in fiscal 2025.