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…
Earnings analysis · 10-Q
LCTX earnings analysis
Filed May 12, 2026 · Our reading of the company's report
The latest report
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…
Read full summary
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.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.03
What stood out
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Revenue Missed Expectations
Actual revenue of $1.725 million fell short of estimates by approximately 44.5%.
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EPS In Line with Expectations
Reported EPS loss of $0.03 matched analyst predictions, indicating some stability in earnings forecasts.
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Revenue Growth Year-Over-Year
Total revenue increased by 15% versus $1.502 million in Q1 2025, primarily driven by collaboration revenues.
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Increased Operating Expenses
Total operating expenses rose 16% year-over-year to $9.318 million, indicating continued investment but raising concerns on cash burn.
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Strong Cash Position
The company holds $53.4 million in cash and marketable securities, which is projected to fund operations into Q2 2028.
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Clinical Programs Advancing
Significant developments in OpRegen and OPC1 programs, potentially supporting future revenue opportunities.
What to watch
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Ongoing Cash Burn
Negative cash flow from operations totaled $8.1 million in Q1 2026, raising concerns about sustainability.
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Lost Revenue from Royalty Decrease
A $0.1 million decrease in royalty revenue highlights potential challenges in sustaining revenue streams.
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Market and Geopolitical Risks
Ongoing Israeli regional conflict presents operational risks that could disrupt business continuity.
Management's outlook
Cash position expected to support continued operations into Q2 2028.
Earlier filings 4
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 itself. Analysis can contain errors; check the source document for full context.