Ligand Pharmaceuticals Incorporated
Cash Flow Statement
| Line Item | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $48.5M | $-13.3M | $44.8M | $117.3M | $4.8M | $-42.5M | $-31.1M | $-7.2M |
| Depreciation & Amortization | $8.2M | $8.2M | $8.2M | $8.3M | $8.5M | $8.8M | $8.6M | $9.0M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $13.7M | $10.6M | $14.3M | $14.7M | $10.0M | $7.8M | $7.5M | $15.2M |
| Net Cash from Operating Activities | $24.0M | $48.7M | $45.9M | $13.1M | $15.8M | $-25.4M | $28.5M | $36.5M |
| Investing Activities | ||||||||
| Capital Expenditures | $26.0K | $228.0K | $9.0K | $15.0K | $214.0K | $214.0K | $712.0K | $596.0K |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $321.1M | $-94.3M | $-18.1M | $-353.4M | $-10.7M | $4.9M | $-38.6M | $-46.5M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $546.4M | $-14.1M | $8.3M | $409.6M | $15.0M | $-4.7M | $20.4M | $55.1M |
| Net Change in Cash | $891.6M | $-59.8M | — | — | $19.7M | $-24.3M | $8.7M | $45.5M |
| Free Cash Flow | $24.0M | $48.5M | $45.9M | $13.1M | $15.6M | $-25.7M | $27.8M | $35.9M |