For the quarter ending 2026-03-31, COGT had -$70,804K decrease in cash & cash equivalents over the period. -$87,332K in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net loss | -97,352 | -102,492 | -80,930 | -145,515 |
| Depreciation and amortization expense | -1,310 | - | 641 | 1,295 |
| Depreciation expense | - | 2,564 | - | - |
| Stock-based compensation expense | 16,908 | 15,751 | 10,604 | 19,724 |
| Amortization of operating leases, right-of-use assets | 529 | 513 | 506 | 1,000 |
| Change in fair value of cvr liability | - | 0 | - | - |
| Net amortization (accretion) of premiums (discounts) on marketable securities | 1,180 | 1,056 | 167 | 739 |
| Amortization of debt discount and issuance costs | 278 | 238 | 300 | 63 |
| Loss on debt extinguishment | - | -7,181 | - | - |
| Loss on fixed asset disposal | -135 | 0 | - | - |
| Prepaid expenses and other current assets | 1,835 | 3,236 | -806 | -2,235 |
| Other assets | -1,361 | -1,187 | -374 | 0 |
| Accounts payable | 4,240 | -6,525 | -596 | 4,612 |
| Accrued expenses and other current liabilities | -10,200 | 9,100 | 4,565 | -2,979 |
| Operating lease liability | -422 | -407 | -400 | -758 |
| Other liabilities | 29 | 13 | 11 | 9 |
| Net cash used in operating activities | -86,883 | -79,105 | -64,286 | -121,053 |
| Purchases of property and equipment | 449 | 811 | 65 | 678 |
| Purchases of marketable securities | 133,839 | 395,222 | 224,066 | 67,883 |
| Maturities and sales of marketable securities | 97,831 | 73,264 | 69,085 | 146,850 |
| Net cash (used in) provided by investing activities | -36,457 | -322,769 | -155,046 | 78,289 |
| Proceeds from long-term debt | - | 0 | 0 | 49,291 |
| Repayment of long-term debt | - | 54,635 | - | - |
| Proceeds from convertible senior notes | - | 223,100 | - | - |
| Payment of debt issuance costs | - | 318 | 235 | 2,069 |
| Proceeds from issuance of common stock in public offerings, net of offering costs-IPOOne | - | 539,776 | - | - |
| Proceeds from issuance of common stock in public offerings, net of offering costs-IPOTwo | - | 0 | - | - |
| Proceeds from issuance of common stock under atm, net of issuance costs of 1.4 million and 0.7 million, respectively | 45,712 | 135,073 | 0 | 24,250 |
| Proceeds from issuance of common stock in public offering, net of offering costs of 14.3 million | - | - | 215,792 | - |
| Proceeds from issuance of common stock and series b non-voting convertible preferred stock in connection with the private placement, net of offering costs 11.7 million | - | 0 | 0 | 0 |
| Taxes paid related to net share settlement of equity awards | - | 48,896 | - | - |
| Proceeds from pre-funded warrant exercises | 6 | - | - | - |
| Proceeds from issuance of common stock upon stock option exercises | 5,756 | 10,361 | 1,044 | 141 |
| Proceeds from issuance of common stock from employee stock purchase plan | 1,062 | 0 | 766 | 584 |
| Net cash provided by financing activities | 52,536 | 588,669 | 217,367 | 72,197 |
| Net (decrease) increase in cash, cash equivalents and restricted cash | -70,804 | 186,795 | -1,965 | 29,433 |
| Cash, cash equivalents and restricted cash at beginning of period | 312,428 | 125,633 | 98,165 | - |
| Cash, cash equivalents and restricted cash at end of period | 241,624 | 312,428 | 125,633 | - |