LCTX earnings analysis
What we found in LCTX's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Lineage Cell Therapeutics reported Q1 2026 revenue of $1.725 million, falling short of analyst expectations of $3.1 million, while its EPS loss matched estimates at $0.03. The company registered a 15% increase in total revenue compared to the prior year despite a continued cash burn, maintaining a cash position of $53.4 million expected to support operations through Q2 2028.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Missed Expectations
- Actual revenue of $1.725 million fell short of estimates by approximately 44.5%.
- EPS In Line with Expectations
- Reported EPS loss of $0.03 matched analyst predictions, indicating some stability in earnings forecasts.
- Revenue Growth Year-Over-Year
- Total revenue increased by 15% versus $1.502 million in Q1 2025, primarily driven by collaboration revenues.
- Increased Operating Expenses
- Total operating expenses rose 16% year-over-year to $9.318 million, indicating continued investment but raising concerns on cash burn.
- Strong Cash Position
- The company holds $53.4 million in cash and marketable securities, which is projected to fund operations into Q2 2028.
- Clinical Programs Advancing
- Significant developments in OpRegen and OPC1 programs, potentially supporting future revenue opportunities.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Ongoing Cash Burn
- Negative cash flow from operations totaled $8.1 million in Q1 2026, raising concerns about sustainability.
- Lost Revenue from Royalty Decrease
- A $0.1 million decrease in royalty revenue highlights potential challenges in sustaining revenue streams.
- Market and Geopolitical Risks
- Ongoing Israeli regional conflict presents operational risks that could disrupt business continuity.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.03
What they said about what is next.
Cash position expected to support continued operations into Q2 2028.
The filing reads worse than the one before it.
What came before.
- 10-K · March 5, 2026
- Lineage Cell Therapeutics, Inc. experienced a substantial 53% year-over-year increase in total revenue for 2025, reaching $14.6 million primarily due to milestone payments from Roche. The company significantly improved…
- 10-Q · November 6, 2025
- Lineage Cell Therapeutics (LCTX) reported a strong Q3 2025 with revenues of $3.68 million, exceeding analyst estimates by 51.78%. However, the company continued to face significant losses, with an EPS of -$0.13, missing…
- 10-Q · August 12, 2025
- In Q2 2025, LCTX reported a strong revenue increase of 96% year-over-year, primarily from collaboration revenues associated with their Roche Agreement. However, despite revenue growth, operating expenses skyrocketed due…
- 10-Q · May 13, 2025
- LCTX reported a slight increase in total revenue of 4%, reaching $1.5 million in Q1 2025 compared to $1.4 million in Q1 2024. The company's EPS improved marginally to -0.02 from -0.04 in the same period last year,…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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