Artelo Biosciences, Inc. (ARTL) Cash Flow Statement
Where ARTL’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- −$8.5M
- Capital expenditures
- $0
- Free cash flow
- −$8.5M
- Returned to shareholders
- —
- Change in cash
- −$1.7M cash at year-end $600,000
Cash from operations
−$8.5M
Investments (net)
−$62,000
Net borrowing (repayment)
+$584,000
Shares issued
+$6.2M
Other financing
+$132,000
Change in cash
−$1.7M
Drawn to scale: where the cash came from and how it was used. Hover for values.
ARTL operating cash flow, capex and free cash flow
Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)
ARTL cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −$18,4892016 | −$8.5M2025 | — | |
| Capital expenditures | $8452016 | $02025 | −100.0% | |
| Free cash flow | −$18,4892016 | −$8.5M2025 | — | |
| Stock-based compensation | $3,3322017 | $1.1M2025 | +107.4%/yr | |
| Dividends paid | $02016 | $02018 | — | |
| Share buybacks (net) | $02016 | $02021 | — |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ARTL cash flow by activity
OperatingInvestingFinancingChange in cash
ARTL 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).
ARTL cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | −$12.9M | −$9.8M | −$9.3M | −$10.1M | −$7.4M | −$4.7M | −$2.2M | −$2.3M | −$234,889 | −$29,690 |
| Depreciation & amortization | $146,000 | — | — | — | $311 | $500 | $510 | $282 | $600 | $29,690 |
| Stock-based compensation | $1.1M | $818,000 | $1.0M | $2.5M | $1.5M | $381,000 | $425,110 | $290,004 | $3,332 | — |
| Change in working capital | $1.8M | $937,000 | $703,000 | −$172,000 | −$242,000 | −$43,000 | −$140,021 | $443,185 | $14,136 | $11,201 |
| Other non-cash items | $1.3M | −$279,000 | −$641,000 | −$211,000 | $6,689 | −$30,500 | −$906,099 | $0 | $0 | −$29,690 |
| Cash from operating activities | −$8.5M | −$8.3M | −$8.2M | −$8.0M | −$6.1M | −$4.3M | −$2.8M | −$1.6M | −$216,821 | −$18,489 |
| Investing activities | ||||||||||
| Capital expenditures | $0 | $0 | $0 | $0 | $0 | −$1.5M | −$1.5M | −$845 | −$845 | −$845 |
| Investments (net) | −$62,000 | $7.8M | $3.5M | $4.9M | −$3.4M | −$3.4M | −$1.5M | −$845 | $0 | $0 |
| Acquisitions & other investing | $0 | $0 | $0 | −$1.9M | $0 | $1.5M | $1.5M | $845 | $0 | $0 |
| Cash from investing activities | −$62,000 | $7.8M | $3.5M | $3.0M | −$3.4M | −$3.4M | −$1.5M | −$845 | −$845 | −$845 |
| Financing activities | ||||||||||
| Dividends paid | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Share repurchases & issuance (net) | — | — | — | — | $9 | −$108 | $8.4M | $1.4M | $761,360 | $0 |
| Net borrowing (repayment) | $584,000 | $0 | — | — | −$7,000 | $3,153 | $1,048 | $1,838 | $12,668 | $4,450 |
| Shares issued | $6.2M | $112,000 | $567,000 | $535,000 | $8.1M | $2.0M | $8.4M | $1.4M | $0 | $0 |
| Other financing | $132,000 | $0 | $0 | −$578,000 | $6.0M | $264 | −$8.4M | −$1.4M | $11,321 | $600 |
| Cash from financing activities | $6.9M | $112,000 | $567,000 | −$43,000 | $14.1M | $2.0M | $8.4M | $1.4M | $785,349 | $5,050 |
| Summary | ||||||||||
| Net change in cash | −$1.7M | −$477,000 | −$4.1M | −$5.3M | $4.5M | −$2.3M | $4.1M | −$235,351 | $569,185 | −$13,439 |
| Cash at end of period | $600,000 | $2.3M | $2.8M | $6.9M | $6.6M | $2.1M | $4.4M | $337,424 | $572,775 | $3,590 |
| Free cash flow | −$8.5M | −$8.3M | −$8.2M | −$8.0M | −$6.1M | −$4.3M | −$4.3M | −$1.6M | −$216,821 | −$18,489 |
| 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 | −$2.4M | −$3.0M | −$4.2M | −$3.1M | −$3.2M | −$2.4M | −$3.8M | −$1.1M | −$2.4M | −$2.5M | −$3.1M | −$2.4M |
| Depreciation & amortization | $84,000 | $69,000 | −$45,000 | — | $46,000 | — | — | — | — | — | — | — |
| Stock-based compensation | $570,000 | $401,000 | $368,000 | $432,000 | $150,000 | $192,000 | $201,000 | $38,000 | $195,000 | $213,000 | $219,000 | $222,000 |
| Change in working capital | −$3.2M | $1.1M | −$479,000 | −$818,000 | $2.5M | $583,000 | $1.0M | $197,322 | $247,295 | −$566,000 | $423,000 | $590,000 |
| Other non-cash items | −$96,000 | $163,000 | $1.4M | $8,000 | $8,000 | $0 | −$33,000 | $36,477 | −$52,532 | −$106,000 | −$165,000 | −$165,000 |
| Cash from operating activities | −$5.0M | −$1.2M | −$2.9M | −$3.5M | −$514,000 | −$1.6M | −$2.6M | −$860,201 | −$2.0M | −$2.9M | −$2.6M | −$1.8M |
| Investing activities | ||||||||||||
| Capital expenditures | $0 | −$1 | $0 | $0 | $0 | $0 | $0 | −$1 | −$3 | $0 | $0 | $0 |
| Investments (net) | — | — | $188,000 | −$250,000 | $0 | $0 | $500,000 | $4.2M | $1.8M | $1.3M | $2.7M | −$1.8M |
| Acquisitions & other investing | — | — | $0 | $0 | −$399,000 | — | $0 | $90,404 | −$11,918 | $0 | $0 | $0 |
| Cash from investing activities | — | — | $188,000 | −$250,000 | −$399,000 | — | $500,000 | $4.3M | $1.7M | $1.3M | $2.7M | −$1.8M |
| Financing activities | ||||||||||||
| Share repurchases & issuance (net) | — | $145,000 | — | — | — | — | — | — | — | — | — | — |
| Net borrowing (repayment) | −$1.2M | $593,000 | −$153,000 | $0 | $737,000 | $0 | — | $0 | — | — | — | — |
| Shares issued | $175,000 | $10.0M | $1.8M | $3.3M | $1.1M | $0 | $57,000 | $0 | $0 | $55,000 | $32,000 | $535,000 |
| Other financing | $3,000 | $89,000 | $0 | $132,000 | $0 | $0 | $0 | $811 | −$217 | $0 | $0 | $0 |
| Cash from financing activities | −$1.1M | $10.9M | $1.6M | $3.4M | $1.8M | $0 | $57,000 | $811 | −$217 | $55,000 | $32,000 | $535,000 |
| Summary | ||||||||||||
| Net change in cash | −$6.1M | $9.7M | −$1.1M | −$346,000 | $1.3M | −$1.6M | −$2.0M | $3.5M | −$314,000 | −$1.6M | $176,000 | −$3.1M |
| Cash at end of period | $4.2M | $10.3M | $600,000 | $1.7M | $2.1M | $746,000 | $2.3M | $4.4M | $881,000 | $1.2M | $2.8M | $2.6M |
| Free cash flow | −$5.0M | −$1.2M | −$2.9M | −$3.5M | −$514,000 | −$1.6M | −$2.6M | −$860,200 | −$2.0M | −$2.9M | −$2.6M | −$1.8M |
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.
ARTL cash generation
In fiscal 2025 (ended December 31, 2025), Artelo Biosciences generated -$8.5 million of cash from operations and spent $0 on capital expenditures, leaving free cash flow of -$8.5 million. Cash and equivalents fell by $1.7 million over the year.
Related: ARTL income statement, ARTL balance sheet. See the ARTL stock overview for the latest quote and news.
ARTL cash flow FAQ
What is Artelo Biosciences's free cash flow?
Artelo Biosciences's free cash flow was -$8.5 million in fiscal 2025: -$8.5 million of operating cash flow minus $0 of capital expenditures It was -$8.3 million a year earlier..
How much cash does Artelo Biosciences generate from operations?
Artelo Biosciences generated -$8.5 million of cash from operating activities in fiscal 2025.