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Other financials

Income statement

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Revenue-
Operating income-$57.3M+24.5%
Net income-$53.7M+23.3%
EPS (diluted)-$0.69+24.2%

Balance sheet

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Cash & equivalents$78.6M+8.0%
Total debt$2.1M+36.3%
Total equity$408.7M-30.8%
Total assets$363.8M-30.1%

Cash flow

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Operating cash flow-$38.2M+33.7%
CapEx$11.0K
Free cash flow-$38.1M-4.1%

Valuation

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Market cap$1.14B+165%
Enterprise value$1.06B+196%

Profitability

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Operating margin-358.7%
Net margin-346.1%

Returns & leverage

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Return on equity-44%+26.2pp
Debt / equity0.0×
Current ratio8.4×-1.4×

Where this comes from

Reported directly by Cullinan Therapeutics, Inc. in its filing.

Tagged under the XBRL concept us-gaap:ShareBasedCompensation.

The source filing: Cullinan Therapeutics, Inc.’s 10-Q, filed August 6, 2026.

Filed
Aug 6, 2026, 7:10 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001193125-26-336717
Line itemSix Months Ended June 30, 2026Six Months Ended June 30, 2025
Operating activities:
Net loss$(103,365)$(118,556)
Adjustments to reconcile net loss to net cash used in operating activities:
Equity-based compensation expense16,06319,261
Accretion of discount on marketable securities(1,331)(4,017)
Depreciation and amortization158153
Changes in operating assets and liabilities:
Prepaid expenses and other assets1,4265,259

Item 1. Financial Statements.

FAQ

What is Cullinan Therapeutics, Inc.'s stock-based comp?
Cullinan Therapeutics, Inc. (CGEM) reported stock-based comp of $8.45M in Q2 2026.
How has Cullinan Therapeutics, Inc.'s stock-based comp changed year-over-year?
Cullinan Therapeutics, Inc.'s stock-based comp decreased by 14.6% year-over-year, from $9.89M to $8.45M.
What is the long-term trend for Cullinan Therapeutics, Inc.'s stock-based comp?
Over 4 years (2021 to 2025), Cullinan Therapeutics, Inc.'s stock-based comp has grown at a 10.3% compound annual growth rate (CAGR), from $24.38M to $36.04M.
What does stock-based comp mean?
Total non-cash stock-based compensation expense for equity awards (RSUs, options, ESPP), added back to net income in cash flow reconciliation.

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