Aldeyra Therapeutics, Inc. (ALDX) Cash Flow Statement
Where ALDX’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- −$33.3M
- Capital expenditures
- $0
- Free cash flow
- −$33.3M
- Returned to shareholders
- —
- Change in cash
- $15.5M cash at year-end $70.0M
Cash from operations
−$33.3M
Investments (net)
+$47.7M
Other financing
+$1.1M
Change in cash
$15.5M
Drawn to scale: where the cash came from and how it was used. Hover for values.
ALDX operating cash flow, capex and free cash flow
Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)
ALDX cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −$15.1M2016 | −$33.3M2025 | — | |
| Capital expenditures | $11,8102016 | $02025 | −100.0% | |
| Free cash flow | −$15.2M2016 | −$33.3M2025 | — | |
| Stock-based compensation | $2.8M2016 | $6.1M2025 | +9.2%/yr | |
| Dividends paid | $02016 | $02017 | — | |
| Share buybacks (net) | $02016 | $532,9512023 | — |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ALDX cash flow by activity
OperatingInvestingFinancingChange in cash
ALDX net income vs operating cash flow
Net incomeOperating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
ALDX cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | −$33.8M | −$55.9M | −$37.5M | −$62.0M | −$57.8M | −$37.6M | −$60.8M | −$38.9M | −$22.3M | −$18.7M |
| Depreciation & amortization | $251,993 | $249,623 | $262,780 | $258,707 | $264,180 | $56,221 | $96,305 | $71,003 | $37,849 | $35,792 |
| Stock-based compensation | $6.1M | $8.0M | $5.8M | $8.3M | $7.1M | $7.1M | $8.1M | $4.1M | $2.7M | $2.8M |
| Change in working capital | −$5.2M | $5.9M | $861,180 | −$3.4M | $7.4M | −$8.8M | $2.7M | $5.0M | $215,451 | $462,973 |
| Other non-cash items | −$664,029 | −$1.5M | $339,651 | $283,905 | $409,471 | $1.7M | $4.9M | −$178,219 | $149,586 | $293,420 |
| Cash from operating activities | −$33.3M | −$43.2M | −$30.3M | −$56.6M | −$42.6M | −$37.5M | −$45.0M | −$29.9M | −$19.2M | −$15.1M |
| Investing activities | ||||||||||
| Capital expenditures | $0 | $0 | −$2 | −$16,317 | −$7,806 | −$5 | −$9,529 | −$262,966 | −$24,759 | −$11,810 |
| Investments (net) | $47.7M | −$44.9M | $57.0M | −$29.9M | −$7,806 | $29.0M | $17.9M | −$23.1M | −$10.2M | −$213,424 |
| Acquisitions & other investing | $0 | $0 | −$27.0M | $0 | $7,806 | $5 | $609,464 | $0 | $0 | $0 |
| Cash from investing activities | $47.7M | −$44.9M | $30.0M | −$30.0M | −$7,806 | $29.0M | $18.5M | −$23.3M | −$10.2M | −$225,234 |
| Financing activities | ||||||||||
| Dividends paid | — | — | — | — | — | — | — | — | $0 | $0 |
| Share repurchases & issuance (net) | — | — | −$532,951 | $1.2M | $194.5M | $41.9M | $9.2M | $81.9M | $37.6M | $12.7M |
| Net borrowing (repayment) | $0 | −$292,500 | −$1.0M | $0 | — | — | $14.3M | −$1.4M | −$1.4M | −$1.4M |
| Shares issued | $0 | $0 | $0 | $0 | $189.8M | $40.7M | $7.9M | $81.9M | $0 | $0 |
| Other financing | $1.1M | $121,078 | $305,231 | $0 | −$189.8M | −$40.7M | −$7.9M | −$81.9M | $1.2M | $1.4M |
| Cash from financing activities | $1.1M | −$171,422 | −$1.3M | $1.2M | $194.5M | $41.9M | $23.6M | $80.5M | $37.4M | $12.7M |
| Summary | ||||||||||
| Net change in cash | $15.5M | −$88.3M | −$1.6M | −$85.4M | $151.9M | $33.4M | −$2.9M | $27.3M | $8.0M | −$2.6M |
| Cash at end of period | $70.0M | $54.5M | $142.8M | $144.4M | $229.8M | $77.9M | $44.4M | $47.4M | $20.0M | $12.0M |
| Free cash flow | −$33.3M | −$43.2M | −$30.3M | −$56.7M | −$42.6M | −$37.5M | −$45.0M | −$30.1M | −$19.2M | −$15.2M |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | −$5.5M | −$3.5M | −$6.5M | −$7.7M | −$9.8M | −$9.9M | −$15.8M | −$15.1M | −$16.8M | −$8.1M | −$4.8M | −$8.2M |
| Depreciation & amortization | $70,706 | $66,599 | $65,116 | $63,683 | $62,282 | $60,912 | $64,373 | $62,987 | $61,631 | $60,632 | $66,469 | $64,999 |
| Stock-based compensation | $1.6M | −$987,554 | $1.1M | $2.6M | $196,565 | $2.2M | $1.3M | $3.2M | $1.9M | $1.5M | −$800,341 | $789,216 |
| Change in working capital | −$852,856 | −$786,883 | $673 | −$1.8M | $1.3M | −$4.8M | $2.9M | $4.3M | $2.1M | −$3.4M | $5.9M | −$788,201 |
| Other non-cash items | $1 | $50,368 | $6,292 | −$216,192 | −$379,009 | −$75,120 | −$421,322 | −$470,997 | −$487,631 | −$113,707 | $70,749 | $95,943 |
| Cash from operating activities | −$4.6M | −$5.1M | −$5.3M | −$7.0M | −$8.6M | −$12.5M | −$12.0M | −$8.0M | −$13.2M | −$10.0M | $500,440 | −$8.0M |
| Investing activities | ||||||||||||
| Capital expenditures | −$23,098 | −$1 | $0 | −$4 | $0 | $0 | $0 | −$2 | −$2 | −$3 | $0 | −$4 |
| Investments (net) | $0 | $0 | $16.0M | $25.0M | −$554,126 | $7.3M | −$1.6M | $5.3M | −$18.2M | −$30.4M | $0 | $0 |
| Acquisitions & other investing | $1 | — | $0 | $4 | $0 | $0 | $0 | $2 | $2 | $3 | — | — |
| Cash from investing activities | −$23,097 | — | $16.0M | $25.0M | −$554,126 | $7.3M | −$1.6M | $5.3M | −$18.2M | −$30.4M | — | — |
| Financing activities | ||||||||||||
| Dividends paid | — | — | — | — | — | — | — | — | — | — | −$1.0M | — |
| Share repurchases & issuance (net) | — | — | — | — | — | — | — | — | — | — | $533 | −$532,951 |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$15.3M | $71,140 | −$2.01T | $120,746 | $1.00T | $1.0M | $7,779 | −$197,392 | $0 | $18,191 | $29,122 | $217,192 |
| Cash from financing activities | −$15.3M | $71,140 | −$2.01T | $120,746 | $1.00T | $1.0M | $7,779 | −$197,392 | $0 | $18,191 | −$1.0M | −$315,759 |
| Summary | ||||||||||||
| Net change in cash | −$19.9M | −$5.0M | $10.7M | $18.1M | −$9.1M | −$4.2M | −$13.6M | −$2.9M | −$21.5M | −$90.3M | −$511,872 | −$8.3M |
| Cash at end of period | $45.1M | $65.0M | $70.0M | $59.3M | $41.2M | $50.4M | $54.5M | $68.1M | $31.0M | $52.5M | $142.8M | $143.3M |
| Free cash flow | −$4.6M | −$5.1M | −$5.3M | −$7.0M | −$8.6M | −$12.5M | −$12.0M | −$8.0M | −$13.2M | −$10.0M | $500,440 | −$8.0M |
| Free cash flow margin | — | — | — | — | — | — | −4,922.5% | — | — | — | 127.5% | — |
| Capex / revenue | — | — | — | — | — | — | 0.0% | — | — | — | 0.0% | — |
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.
ALDX cash generation
In fiscal 2025 (ended December 31, 2025), Aldeyra Therapeutics generated -$33.3 million of cash from operations and spent $0 on capital expenditures, leaving free cash flow of -$33.3 million. Cash and equivalents rose by $15.5 million over the year.
Related: ALDX income statement, ALDX balance sheet. See the ALDX stock overview for the latest quote and news.
ALDX cash flow FAQ
What is Aldeyra Therapeutics's free cash flow?
Aldeyra Therapeutics's free cash flow was -$33.3 million in fiscal 2025: -$33.3 million of operating cash flow minus $0 of capital expenditures It was -$43.2 million a year earlier..
How much cash does Aldeyra Therapeutics generate from operations?
Aldeyra Therapeutics generated -$33.3 million of cash from operating activities in fiscal 2025.