GH Research (GHRS) Free Cash Flow (2020 - 2025)

GH Research's (GHRS) quarterly Free Cash Flow came in at -$12.3 million in Q4 2025, down 18.14% year-on-year from -$15.0 million in Q4 2024, and up 9.76% quarter-over-quarter from -$13.6 million in Q3 2025.

GH Research (GHRS) Free Cash Flow (2020 - 2025) Analysis & Trends

GH Research's Free Cash Flow history runs 6 years deep, the most recent figure standing at -$12.3 million for Q4 2025.

  • On a quarterly basis, Free Cash Flow fell 18.14% year-over-year to -$12.3 million in Q4 2025; TTM through Dec 2025 was -$43.4 million, a 2.83% decrease from a year earlier, with the FY2025 full-year figure at -$43.4 million, down 2.83% from the prior year.
  • Free Cash Flow rose to -$12.3 million in Q4 2025 per GHRS's latest filing, from -$13.6 million in the prior quarter.
  • Across five years, Free Cash Flow topped out at -$1.1 million in Q1 2021 and bottomed at -$13.6 million in Q3 2025.
  • The 5-year median for Free Cash Flow is -$8.7 million (2025), against an average of -$8.2 million.
  • Across the five-year window, Free Cash Flow tumbled 11800.0% in 2021 and advanced 12.4% in 2024, its largest moves.
  • Year by year, Free Cash Flow stood at -$3.9 million in 2021, then plunged by 77.32% to -$7.0 million in 2022, then slumped by 70.36% to -$11.9 million in 2023, then increased by 12.4% to -$10.4 million in 2024, then fell by 18.14% to -$12.3 million in 2025.
  • Per Business Quant, the three latest GHRS Free Cash Flow figures stand at -$12.3 million (Q4 2025), -$13.6 million (Q3 2025), and -$8.9 million (Q2 2025).

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Free Cash Flow (Qtr)
1 Oculis Holding AG 67,072.09 Bn 67,072.09 Bn - -19.58 Mn
2 Nanobiotix 1,894.61 Bn 1,894.55 Bn - -
3 Akari Therapeutics 1,014.18 Bn 1,014.18 Bn - -2.49 Mn
4 BeOne Medicines 471.64 Bn 466.85 Bn 1.35 Bn 158.09 Mn
5 Vertex Pharmaceuticals 121.72 Bn 114.47 Bn 2.59 Bn 1.29 Bn
6 Regeneron Pharmaceuticals 68.28 Bn 59.52 Bn 3.31 Bn 848.30 Mn
7 Belite Bio 61.40 Bn 61.40 Bn - -
8 Argenx Se 56.94 Bn 56.94 Bn 1.18 Bn -
9 Revolution Medicines 37.37 Bn 37.37 Bn - -354.95 Mn
10 GH Research 1.65 Bn 1.65 Bn - -12.31 Mn

Historic Data

Download Data
DateValue
Dec 31, 2025 -12.31 Mn
Dec 31, 2025 -12.31 Mn
Sep 30, 2025 -13.64 Mn
Sep 30, 2025 -13.64 Mn
Jun 30, 2025 -8.91 Mn
Jun 30, 2025 -8.91 Mn
Mar 31, 2025 -8.57 Mn
Mar 31, 2025 -8.57 Mn
Dec 31, 2024 -10.42 Mn
Dec 31, 2024 -10.42 Mn
Sep 30, 2024 -12.30 Mn
Sep 30, 2024 -12.30 Mn
Jun 30, 2024 -9.93 Mn
Jun 30, 2024 -9.93 Mn
Mar 31, 2024 -9.58 Mn
Mar 31, 2024 -9.58 Mn
Dec 31, 2023 -11.90 Mn
Dec 31, 2023 -11.90 Mn
Sep 30, 2023 -10.33 Mn
Sep 30, 2023 -10.33 Mn