Lineage Cell Therapeutics, Inc. (LCTX) Income Statement
LCTX 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsLCTX revenue and net income
Where LCTX's revenue goes
2025Each bar shows an amount and its share of revenue. LCTX kept −436.5% of revenue as net income.
LCTX profit margins
LCTX growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +53.2% | −0.3% | +79.9% | +19.1% |
| Gross profit | +49.6% | −0.6% | +104.0% | +25.4% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
LCTX quarterly EPS vs estimates
Lineage Cell Therapeutics beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 5, 2026 (estimate $-0.02).
LCTX income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $14.6M | $9.5M | $8.9M | $14.7M | $3.9M | $773,000 | $1.5M | $1.4M | $1.8M | $2.3M |
| Cost of revenue | $845,000 | $334,000 | $671,000 | $728,000 | $1.4M | $385,000 | $412,000 | $302,000 | $168,000 | $358,000 |
| Gross profit | $13.7M | $9.2M | $8.3M | $14.0M | $2.5M | $388,000 | $1.1M | $1.1M | $1.6M | $1.9M |
| Research & development | $17.7M | $12.5M | $15.7M | $14.0M | $33.9M | $12.3M | $17.9M | $21.0M | $24.0M | $36.1M |
| Sales, general & admin | $18.5M | $18.2M | $17.9M | $22.5M | $18.2M | $15.6M | $24.0M | $24.7M | $19.9M | $28.4M |
| Total operating expenses | $35.5M | $30.6M | $33.0M | $36.5M | $51.7M | $26.8M | $39.9M | $42.1M | $42.3M | $60.9M |
| Operating income | −$21.8M | −$21.5M | −$24.7M | −$22.5M | −$49.2M | −$26.4M | −$38.9M | −$41.8M | −$38.9M | −$59.0M |
| Interest income | $1.7M | $1.7M | $1.6M | $829,000 | $2,000 | $1.0M | $17.1M | $82.5M | $54.7M | $28.9M |
| Interest expense | — | — | — | $5.2M | $2,000 | $5.2M | $1.7M | $10.9M | $692,000 | $747,000 |
| Income before taxes | −$68.6M | −$18.6M | −$23.3M | −$25.8M | −$43.3M | −$21.9M | −$19.2M | −$47.1M | −$23.3M | $18.6M |
| Income taxes | −$5.1M | $27,000 | −$1.8M | $541,000 | −$4.7M | −$1.2M | −$7.4M | −$346,000 | −$37.3M | −$175.9M |
| Net income | −$63.5M | −$18.6M | −$21.5M | −$26.3M | −$43.0M | −$20.6M | −$11.7M | −$46.0M | −$20.0M | $33.6M |
| EBITDA | −$67.9M | −$18.0M | −$22.6M | −$25.1M | −$42.4M | −$24.4M | −$35.9M | −$37.7M | −$37.4M | −$54.2M |
| EPS (diluted) | −$0.28 | −$0.10 | −$0.13 | −$0.14 | −$0.29 | −$0.12 | −$0.19 | −$0.57 | −$0.39 | $0.32 |
| Gross margin | 94.2% | 96.5% | 92.5% | 95.0% | 63.4% | 50.2% | 72.1% | 78.7% | 90.6% | 84.1% |
| Operating margin | −149.6% | −226.1% | −276.5% | −153.2% | −1,263.1% | −3,421.3% | −2,630.3% | −2,951.6% | −2,170.9% | −2,618.4% |
| Net margin | −436.5% | −195.9% | −240.2% | −178.7% | −1,104.2% | −2,671.3% | −792.2% | −3,247.9% | −1,114.7% | 1,490.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.1M | $1.7M | $6.6M | $3.7M | $2.8M | $1.5M | $2.9M | $3.8M | $1.4M | $1.4M | $2.1M | $1.2M |
| Cost of revenue | $187,000 | $188,000 | $66,000 | $5,000 | $39,000 | $36,000 | $154,000 | $38,000 | $44,000 | $273,000 | $431,000 | $169,000 |
| Gross profit | $882,000 | $1.5M | $6.5M | $3.7M | $2.7M | $1.5M | $2.7M | $3.7M | $1.4M | $1.2M | $1.7M | $1.1M |
| Research & development | $4.8M | $4.2M | $8.2M | $3.3M | $3.1M | $3.1M | $3.4M | $3.2M | $2.9M | $3.0M | $3.9M | $3.7M |
| Sales, general & admin | $5.2M | $5.1M | $4.9M | $4.2M | $4.6M | $4.9M | $4.4M | $4.4M | $4.5M | $5.0M | $4.3M | $4.0M |
| Total operating expenses | $9.8M | $9.1M | $13.1M | $7.5M | $22.5M | $8.0M | $7.8M | $7.6M | $7.2M | $7.8M | $8.0M | $7.8M |
| Operating income | −$8.9M | −$7.6M | −$6.5M | −$3.8M | −$19.8M | −$6.5M | −$5.1M | −$3.8M | −$5.9M | −$6.7M | −$6.4M | −$6.7M |
| Interest income | $378,000 | $405,000 | $393,000 | $366,000 | $454,000 | $478,000 | $393,000 | $397,000 | $463,000 | $462,000 | $404,000 | $433,000 |
| Interest expense | — | — | — | — | — | — | — | — | — | — | $435,000 | — |
| Income before taxes | $1.5M | −$4.8M | −$4.4M | −$29.8M | −$30.4M | −$4.1M | −$3.2M | −$3.0M | −$5.8M | −$6.6M | −$4.7M | −$7.2M |
| Income taxes | — | — | −$5.3M | — | — | — | $10,000 | $33,000 | −$13,000 | −$16,000 | $61,000 | −$48,000 |
| Net income | $1.5M | −$4.8M | $851,000 | −$29.8M | −$30.5M | −$4.1M | −$3.3M | −$3.0M | −$5.8M | −$6.5M | −$4.8M | −$7.1M |
| EBITDA | $1.7M | −$4.6M | −$4.2M | −$29.6M | −$4.8M | −$4.0M | −$3.1M | −$2.9M | −$5.6M | −$6.4M | −$4.5M | −$7.0M |
| EPS (diluted) | −$0.03 | −$0.03 | $0.00 | −$0.13 | −$0.13 | −$0.02 | −$0.01 | −$0.02 | −$0.03 | −$0.04 | −$0.03 | −$0.04 |
| Gross margin | 82.5% | 89.1% | 99.0% | 99.9% | 98.6% | 97.6% | 94.6% | 99.0% | 96.9% | 81.1% | 79.4% | 86.4% |
| Operating margin | −834.7% | −440.2% | −99.1% | −102.9% | −715.4% | −433.1% | −178.2% | −101.6% | −416.7% | −461.3% | −304.7% | −538.1% |
| Net margin | 138.6% | −279.0% | 12.9% | −809.0% | −1,101.8% | −275.6% | −114.1% | −80.3% | −409.1% | −453.0% | −228.7% | −570.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in LCTX's financial statements (latest annual report filed March 5, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
LCTX financial results
In fiscal year 2025 (ended December 31, 2025), Lineage Cell Therapeutics reported revenue of $14.6 million, up 53.2% from the year before. It had a net loss of $63.5 million, a net profit margin of −436.5%. Diluted earnings per share came to −$0.28. Over five years revenue grew at an average rate of 79.9% a year.
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LCTX income statement FAQ
What is Lineage Cell Therapeutics's annual revenue?
Lineage Cell Therapeutics reported total revenue of $14.6 million for fiscal year 2025, which ended on December 31, 2025. That was up 53.2% from $9.5 million the previous year.
Is Lineage Cell Therapeutics profitable?
No. Lineage Cell Therapeutics reported a net loss of $63.5 million in fiscal 2025, a net profit margin of −436.5%; its operating margin was −149.6%.
What is Lineage Cell Therapeutics's gross margin?
Lineage Cell Therapeutics's gross margin was 94.2% in fiscal 2025: for every $100 of revenue, Lineage Cell Therapeutics kept $94 after the direct cost of its products and services.
How much does Lineage Cell Therapeutics spend on research and development?
Lineage Cell Therapeutics spent $17.7 million on research and development in fiscal 2025, 121.8% of revenue.
How fast is Lineage Cell Therapeutics growing?
Revenue grew 79.9% a year on average over the last five fiscal years, from $0.8 million to $14.6 million.
What are Lineage Cell Therapeutics's earnings per share?
Lineage Cell Therapeutics earned $-0.28 per diluted share in fiscal 2025, compared with $-0.10 a year earlier.
When will Lineage Cell Therapeutics report its next earnings?
Lineage Cell Therapeutics is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 after the market closes.
When does Lineage Cell Therapeutics's fiscal year end?
Lineage Cell Therapeutics's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 5, 2026.