Vor Biopharma Inc. (VOR) Cash Flow Statement
Where VOR’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- −$142.7M
- Capital expenditures
- $941,000
- Free cash flow
- −$143.7M
- Returned to shareholders
- —
- Change in cash
- $312.3M cash at year-end $396.7M
Drawn to scale: where the cash came from and how it was used. Hover for values.
VOR operating cash flow, capex and free cash flow
VOR cash flow trends, 2018–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −$2.7M2018 | −$142.7M2025 | — | |
| Capital expenditures | $748,0002018 | $941,0002025 | +3.3%/yr | |
| Free cash flow | −$2.7M2018 | −$143.7M2025 | — | |
| Stock-based compensation | $116,0002018 | $18.9M2025 | +107.0%/yr | |
| Share buybacks (net) | $02021 | $1.2M2023 | — |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
VOR cash flow by activity
VOR 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).
VOR cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||
| Net income | −$696.0M | −$116.9M | −$117.9M | −$92.1M | −$68.9M | −$43.3M | −$10.8M | −$4.2M |
| Depreciation & amortization | $2.9M | $3.5M | $3.5M | $2.5M | $1.4M | $605,000 | $91,000 | $20,000 |
| Stock-based compensation | $18.9M | $9.8M | $13.4M | $10.7M | $4.3M | $1.3M | $172,000 | $116,000 |
| Change in working capital | $10.2M | $5,000 | $650,000 | −$12.7M | −$9.2M | $4.3M | $145,000 | $63,000 |
| Other non-cash items | $521.3M | $3.9M | $67,000 | $6.4M | $3.2M | $782,000 | $576,000 | $1.3M |
| Cash from operating activities | −$142.7M | −$99.7M | −$100.3M | −$85.1M | −$69.1M | −$36.3M | −$9.9M | −$2.7M |
| Investing activities | ||||||||
| Capital expenditures | −$941,000 | −$229,000 | −$1.1M | −$8.5M | −$3.9M | −$4.2M | −$748,000 | −$748,000 |
| Investments (net) | −$48.7M | $96.9M | −$36.4M | −$85.6M | −$87.8M | −$4.2M | −$748,000 | −$87.8M |
| Acquisitions & other investing | $799,000 | $229,000 | $108.4M | $0 | $0 | $4.2M | $748,000 | $87.8M |
| Cash from investing activities | −$48.8M | $96.9M | $71.0M | −$94.1M | −$91.7M | −$4.2M | −$748,000 | −$748,000 |
| Financing activities | ||||||||
| Share repurchases & issuance (net) | — | — | −$1.2M | $4.5M | $187.5M | — | — | — |
| Net borrowing (repayment) | — | — | — | — | — | — | — | $2.5M |
| Shares issued | $328.2M | $55.8M | $116.2M | $116.0M | $234.6M | $82.3M | $17.7M | $0 |
| Other financing | $175.6M | −$2.4M | −$112.1M | −$3.3M | −$189.2M | $259,000 | $7,000 | $0 |
| Cash from financing activities | $503.8M | $53.4M | $2.9M | $117.1M | $232.9M | $82.5M | $17.7M | $2.5M |
| Summary | ||||||||
| Net change in cash | $312.3M | $50.6M | −$26.3M | −$62.1M | $72.1M | $42.1M | $7.1M | −$197,000 |
| Cash at end of period | $396.7M | $84.4M | $33.8M | $60.1M | $122.2M | $50.1M | $8.0M | $929,000 |
| Free cash flow | −$143.7M | −$99.9M | −$101.4M | −$93.6M | −$73.0M | −$40.5M | −$10.6M | −$2.7M |
| 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 | −$62.8M | −$219.6M | $1.72B | −$812.7M | −$1.57B | −$32.5M | −$30.7M | −$27.6M | −$27.8M | −$30.8M | −$26.3M | −$33.2M |
| Depreciation & amortization | $36,000 | $28,000 | $23,000 | $2,000 | $2.0M | $825,000 | $865,000 | $820,000 | $869,000 | $943,000 | $892,000 | −$1.4M |
| Stock-based compensation | $9.4M | $8.9M | $8.9M | $8.0M | $1.8M | $1.9M | $1.7M | $2.3M | $2.8M | $3.1M | $1.9M | $3.2M |
| Change in working capital | $15.2M | −$15.5M | $3.2M | $5.1M | $4.6M | −$2.6M | $2.8M | −$99,000 | $1.4M | −$4.1M | −$779,000 | $1.3M |
| Other non-cash items | $12.5M | $188.0M | −$1.76B | $745.9M | $1.53B | $1.3M | $1.3M | $1.3M | $922,000 | $435,000 | $228,000 | $2.3M |
| Cash from operating activities | −$25.7M | −$38.2M | −$22.8M | −$53.7M | −$35.2M | −$31.1M | −$24.1M | −$23.3M | −$21.8M | −$30.5M | −$24.0M | −$27.9M |
| Investing activities | ||||||||||||
| Capital expenditures | −$120,000 | −$48,000 | −$314,000 | −$244,000 | −$152,000 | −$231,000 | −$72,000 | −$34,000 | −$9,000 | −$114,000 | −$111,000 | −$465,000 |
| Investments (net) | −$36.4M | −$263.2M | −$48.7M | −$244,000 | $646,000 | −$230,000 | −$72,000 | −$34,000 | $53.0M | $44.0M | $10.3M | $40.5M |
| Acquisitions & other investing | $0 | $0 | $0 | $244,000 | $152,000 | $231,000 | $72,000 | $34,000 | $9,000 | $114,000 | $111,000 | $465,000 |
| Cash from investing activities | −$36.5M | −$263.2M | −$49.0M | −$244,000 | $646,000 | −$230,000 | −$72,000 | −$34,000 | $53.0M | $44.0M | $10.3M | $40.5M |
| Financing activities | ||||||||||||
| Share repurchases & issuance (net) | −$4,000 | −$2,000 | — | −$74,000 | −$32,000 | −$55,000 | — | −$121,000 | −$182,000 | −$182,000 | −$22,000 | −$220 |
| Shares issued | $0 | $75.0M | $307.9M | $20.3M | $0 | $0 | $55.5M | $111,000 | $0 | $278,000 | $0 | $392,000 |
| Other financing | $21,000 | −$127,000 | −$150,000 | $1.4M | $175.1M | −$551,000 | −$2.2M | $51,000 | $151,000 | $0 | $47,000 | −$215,780 |
| Cash from financing activities | $17,000 | $74.9M | $307.8M | $21.5M | $175.1M | −$606,000 | $53.3M | $41,000 | −$31,000 | $96,000 | $25,000 | $176,000 |
| Summary | ||||||||||||
| Net change in cash | −$62.2M | −$226.6M | $236.2M | −$32.5M | $140.5M | −$31.9M | $29.2M | −$23.3M | $31.1M | $13.6M | −$13.7M | $12.8M |
| Cash at end of period | $107.7M | $169.9M | $396.7M | $160.5M | $193.0M | $52.5M | $84.4M | $55.2M | $76.1M | $45.0M | $33.8M | $47.4M |
| Free cash flow | −$25.8M | −$38.3M | −$23.1M | −$53.9M | −$35.3M | −$31.3M | −$24.1M | −$23.3M | −$21.9M | −$30.6M | −$24.1M | −$28.4M |
| Free cash flow margin | — | — | — | — | — | — | −654.8% | — | — | — | −197.4% | — |
| Capex / revenue | — | — | — | — | — | — | 2.0% | — | — | — | 0.9% | — |
| Operating cash flow / net income | — | — | −0.01 | — | — | — | — | — | — | — | — | — |
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.
VOR cash generation
In fiscal 2025 (ended December 31, 2025), Vor Biopharma generated -$142.7 million of cash from operations and spent $0.9 million on capital expenditures, leaving free cash flow of -$143.7 million. Cash and equivalents rose by $312.3 million over the year.
Related: VOR income statement, VOR balance sheet. See the VOR stock overview for the latest quote and news.
VOR cash flow FAQ
What is Vor Biopharma's free cash flow?
Vor Biopharma's free cash flow was -$143.7 million in fiscal 2025: -$142.7 million of operating cash flow minus $0.9 million of capital expenditures It was -$99.9 million a year earlier..
How much cash does Vor Biopharma generate from operations?
Vor Biopharma generated -$142.7 million of cash from operating activities in fiscal 2025.
How much does Vor Biopharma spend on capital expenditures?
Vor Biopharma spent $0.9 million on capital expenditures in fiscal 2025, compared with $0.2 million the year before.