Akoustis Technologies, Inc. (AKTS) Cash Flow Statement
Where AKTS’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- −$64.1M −534.4% vs 2024
- Capital expenditures
- $9.6M 147.5% of revenue
- Free cash flow
- −$73.7M −1,134.5% margin
- Returned to shareholders
- —
- Change in cash
- $625,000 cash at year-end $38.9M
Drawn to scale: where the cash came from and how it was used. Hover for values.
AKTS operating cash flow, capex and free cash flow
AKTS cash flow trends, 2015–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −$1.1M2015 | −$64.1M2025 | — | |
| Capital expenditures | $47,2152015 | $9.6M2025 | +80.5%/yr | |
| Free cash flow | −$1.1M2015 | −$73.7M2025 | — | |
| Free cash flow margin | −450.3%2015 | −1,134.5%2025 | −684.2 pts | |
| Stock-based compensation | $435,6422015 | $5.1M2025 | +31.5%/yr | |
| Capex / revenue | 18.5%2015 | 147.5%2025 | +129.0 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
AKTS cash flow by activity
AKTS net income vs operating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
AKTS cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | −$63.7M | −$44.0M | −$28.6M | −$17.9M | −$59.2M | −$36.1M | −$29.2M | −$21.7M | −$9.1M | −$2.5M |
| Depreciation & amortization | $2.3M | $1.6M | $1.1M | $445,000 | $8.1M | $3.2M | $2.5M | $1.3M | $110,084 | $12,556 |
| Stock-based compensation | $5.1M | $2.3M | $1.5M | $698,000 | $10.2M | $6.7M | $7.2M | $5.5M | $3.9M | $435,642 |
| Change in working capital | −$3.2M | $59.0M | −$15,000 | −$1.1M | −$4.6M | $957,000 | −$173,000 | $740,601 | $391,814 | $108,822 |
| Other non-cash items | −$4.6M | −$4.1M | −$3.9M | −$200,000 | $214,000 | $4.0M | $2.0M | $44,931 | −$848,391 | $860,275 |
| Cash from operating activities | −$64.1M | $14.8M | −$30.0M | −$18.1M | −$45.2M | −$21.3M | −$17.7M | −$14.2M | −$5.5M | −$1.1M |
| Investing activities | ||||||||||
| Capital expenditures | −$9.6M | −$2.9M | −$3.8M | −$2.3M | −$27.7M | −$10.0M | −$4.9M | −$7.0M | −$1.7M | −$47,215 |
| Investments (net) | $75.5M | −$187.5M | −$65.1M | $0 | — | — | — | — | — | — |
| Acquisitions & other investing | $0 | $0 | $57,000 | $0 | −$7.2M | $60,000 | $33,000 | $0 | −$2.8M | $0 |
| Cash from investing activities | $66.0M | −$190.4M | −$68.8M | −$2.3M | −$34.9M | −$9.9M | −$4.9M | −$7.0M | −$4.5M | −$47,215 |
| Financing activities | ||||||||||
| Shares issued | $0 | $185.0M | $0 | $120.1M | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$1.2M | −$1.7M | $32.6M | −$151,000 | $72.3M | $45.5M | $37.9M | $26.4M | $15.6M | $2.6M |
| Cash from financing activities | −$1.2M | $183.3M | $32.6M | $120.0M | $72.3M | $45.5M | $37.9M | $26.4M | $15.6M | $2.6M |
| Summary | ||||||||||
| Net change in cash | $625,000 | $7.6M | −$98.8M | $99.6M | −$7.8M | $14.3M | $15.3M | $5.2M | $5.5M | $1.4M |
| Cash at end of period | $38.9M | $38.3M | $30.7M | $129.5M | $80.5M | $44.4M | $30.2M | $14.8M | $9.6M | $4.2M |
| Free cash flow | −$73.7M | $11.9M | −$33.8M | −$20.4M | −$72.9M | −$31.3M | −$22.6M | −$21.2M | −$7.2M | −$1.1M |
| Free cash flow margin | −1,134.5% | 800.3% | −124.5% | — | −475.0% | −1,746.1% | −1,565.6% | −1,756.4% | −42,645.6% | −450.3% |
| Capex / revenue | 147.5% | 192.5% | 13.9% | — | 180.6% | 555.9% | 341.2% | 580.8% | 9,937.4% | 18.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | −$24.1M | −$18.3M | −$15.1M | −$15.5M | −$18.1M | −$15.0M | −$12.1M | −$6.4M | −$23.3M | −$15.7M | −$20.1M | −$17.8M |
| Depreciation & amortization | $879,000 | $652,000 | $695,000 | $598,000 | $552,000 | $484,000 | $441,000 | $1.3M | $3.4M | $3.3M | $3.1M | $3.2M |
| Stock-based compensation | $3.2M | $3.0M | $1.1M | $1.3M | $1.5M | $1.2M | $1.1M | −$1.7M | $945,000 | $316,000 | $1.9M | $2.0M |
| Change in working capital | $489,000 | −$9.1M | −$1.2M | −$820,000 | $1.1M | −$2.4M | −$567,000 | −$5.6M | $3.0M | −$952,000 | $3.8M | $3.0M |
| Other non-cash items | −$1.0M | −$529,000 | −$705,000 | −$749,000 | −$1.3M | −$1.9M | −$1.7M | $167,000 | $8.2M | $1.7M | −$1.8M | $939,000 |
| Cash from operating activities | −$20.6M | −$24.2M | −$15.2M | −$15.2M | −$16.2M | −$17.5M | −$12.8M | −$12.2M | −$7.8M | −$11.3M | −$13.1M | −$8.7M |
| Investing activities | ||||||||||||
| Capital expenditures | −$1.3M | −$1.9M | −$4.2M | −$2.0M | −$1.5M | −$1.9M | −$2.2M | −$133,000 | −$291,000 | −$1.6M | −$4.2M | −$1.2M |
| Investments (net) | −$267.4M | $22.4M | −$122.3M | $87.2M | $69.7M | $40.9M | −$170.7M | — | — | — | — | — |
| Acquisitions & other investing | $0 | $0 | $0 | $0 | — | — | $0 | −$52,000 | $0 | $0 | $0 | −$1,000 |
| Cash from investing activities | −$268.7M | $20.5M | −$126.5M | $85.2M | — | — | −$172.9M | −$185,000 | −$291,000 | −$1.6M | −$4.2M | −$1.2M |
| Financing activities | ||||||||||||
| Shares issued | $0 | $339.8M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | $156,000 | −$2.2M | −$772,000 | $28,000 | $0 | −$468,000 | −$1.8M | $17.2M | $10.4M | $52,000 | — | $272,000 |
| Cash from financing activities | $156,000 | $337.5M | −$772,000 | $28,000 | $0 | −$468,000 | −$1.8M | $17.2M | $10.4M | $52,000 | — | $272,000 |
| Summary | ||||||||||||
| Net change in cash | −$289.1M | $333.8M | −$142.5M | $70.0M | $52.0M | $21.1M | −$187.5M | −$12.4M | $2.3M | −$12.9M | −$17.3M | −$9.6M |
| Cash at end of period | $82.5M | $371.6M | $38.9M | $181.4M | $111.4M | $59.4M | $38.3M | $12.1M | $15.2M | $12.9M | $25.8M | $43.1M |
| Free cash flow | −$21.8M | −$26.1M | −$19.4M | −$17.2M | −$17.7M | −$19.4M | −$15.0M | −$12.4M | −$8.1M | −$13.0M | −$17.3M | −$9.9M |
| Free cash flow margin | −645.7% | −808.7% | −1,037.2% | −1,090.9% | −1,106.5% | −1,339.0% | −1,610.7% | −137.2% | −107.6% | −184.8% | −247.3% | −119.0% |
| Capex / revenue | 37.3% | 57.5% | 222.1% | 126.8% | 95.9% | 130.8% | 238.9% | 1.5% | 3.9% | 23.2% | 60.1% | 14.6% |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported; data from EODHD.
AKTS cash generation
In fiscal 2025 (ended December 31, 2025), Akoustis Technologies generated -$64.1 million of cash from operations (down 534.4%) and spent $9.6 million on capital expenditures, leaving free cash flow of -$73.7 million, −1,134.5% of revenue. Cash and equivalents rose by $0.6 million over the year.
Related: AKTS income statement, AKTS balance sheet. See the AKTS stock overview for the latest quote and news.
AKTS cash flow FAQ
What is Akoustis Technologies's free cash flow?
Akoustis Technologies's free cash flow was -$73.7 million in fiscal 2025: -$64.1 million of operating cash flow minus $9.6 million of capital expenditures It was $11.9 million a year earlier..
How much cash does Akoustis Technologies generate from operations?
Akoustis Technologies generated -$64.1 million of cash from operating activities in fiscal 2025.
How much does Akoustis Technologies spend on capital expenditures?
Akoustis Technologies spent $9.6 million on capital expenditures in fiscal 2025, 147.5% of revenue, compared with $2.9 million the year before.