Avax One Technology Ltd. (AVX) Cash Flow Statement
Where AVX’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- −$14.4M
- Capital expenditures
- $116.0M 4,956.1% of revenue
- Free cash flow
- −$130.5M −5,573.2% margin
- Returned to shareholders
- $257,964
- Change in cash
- $21.6M cash at year-end $22.1M
Drawn to scale: where the cash came from and how it was used. Hover for values.
AVX operating cash flow, capex and free cash flow
AVX cash flow trends, 2018–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −$1.6M2018 | −$14.4M2025 | — | |
| Capital expenditures | $31,0392018 | $116.0M2025 | +223.9%/yr | |
| Free cash flow | −$1.6M2018 | −$130.5M2025 | — | |
| Free cash flow margin | −39,955.0%2023 | −5,573.2%2025 | +34,381.7 pts | |
| Stock-based compensation | $208,3212018 | $1.8M2025 | +36.0%/yr | |
| Share buybacks (net) | $19,1442019 | $257,9642025 | +54.3%/yr | |
| Capex / revenue | 0.0%2023 | 4,956.1%2025 | +4,956.1 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
AVX cash flow by activity
AVX 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).
AVX cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||
| Net income | −$32.0M | −$16.3M | −$11.7M | −$12.9M | −$6.6M | −$3.2M | −$5.1M | −$2.7M |
| Depreciation & amortization | $1.4M | $667,061 | $679,844 | $22,413 | $11,797 | $9,059 | $8,114 | $3,295 |
| Stock-based compensation | $1.8M | $85,539 | $763,226 | $940,945 | $930,524 | $571,210 | $401,869 | $208,321 |
| Change in working capital | −$9.0M | $246,891 | $1.1M | −$173,760 | $365,453 | $351,470 | $338,871 | $147,008 |
| Other non-cash items | $23.3M | $10.0M | $2.7M | $4,145 | $198,395 | $438,076 | $62,806 | $812,005 |
| Cash from operating activities | −$14.4M | −$5.3M | −$6.5M | −$12.1M | −$5.1M | −$1.9M | −$4.3M | −$1.6M |
| Investing activities | ||||||||
| Capital expenditures | −$116.0M | −$1.5M | $0 | −$660,014 | −$1.0M | −$171,574 | −$1.3M | −$31,039 |
| Investments (net) | — | −$1.9M | −$225,000 | −$640,014 | −$1.0M | — | — | — |
| Acquisitions & other investing | $500,884 | $1.5M | $0 | $660,014 | $1.0M | $0 | $0 | $0 |
| Cash from investing activities | −$115.5M | −$1.9M | −$225,000 | −$640,014 | −$1.0M | −$171,574 | −$1.3M | −$31,039 |
| Financing activities | ||||||||
| Share repurchases & issuance (net) | −$257,964 | $0 | — | — | — | — | −$19,144 | — |
| Net borrowing (repayment) | $11.0M | $918,533 | $7.5M | $9.9M | −$134,068 | — | — | — |
| Shares issued | $132.5M | $2.8M | $1.3M | $0 | $15.6M | $0 | $0 | $0 |
| Other financing | $8.4M | −$84,463 | −$541,137 | −$2.4M | −$2.1M | $604,800 | $7.5M | $1.7M |
| Cash from financing activities | $151.7M | $3.6M | $8.3M | $7.6M | $13.4M | $604,800 | $7.5M | $1.7M |
| Summary | ||||||||
| Net change in cash | $21.6M | −$3.4M | $1.6M | −$5.5M | $7.1M | −$1.5M | $2.1M | $79,015 |
| Cash at end of period | $22.1M | $489,868 | $3.9M | $2.3M | $7.8M | $653,410 | $2.2M | $79,015 |
| Free cash flow | −$130.5M | −$6.8M | −$6.5M | −$12.7M | −$6.1M | −$2.0M | −$5.6M | −$1.6M |
| Free cash flow margin | −5,573.2% | −25,534.3% | −39,955.0% | — | — | — | — | — |
| Capex / revenue | 4,956.1% | 5,696.6% | 0.0% | — | — | — | — | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Sep '23 | Jun '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | −$35.1M | −$46.4M | −$16.6M | −$8.4M | −$8.1M | −$145,455 | −$2.9M | −$5.8M | −$4.2M | −$3.3M | −$3.5M | −$2.5M |
| Depreciation & amortization | $284,000 | $253,000 | $339,699 | $372,943 | $345,064 | $275,395 | $167,874 | $169,248 | $162,941 | $166,998 | $172,096 | $171,839 |
| Stock-based compensation | $303,000 | $253,000 | $304,847 | $1.3M | $81,334 | $127,165 | $0 | −$51,847 | $90,596 | $50,340 | $177,836 | $107,320 |
| Change in working capital | −$3.4M | −$336,000 | −$7.4M | −$1.4M | $380,752 | −$552,465 | $392,193 | $252,783 | −$144,979 | −$107,804 | $269,193 | $807,309 |
| Other non-cash items | $34.2M | $44.9M | $14.4M | $5.8M | $6.4M | −$1.9M | $465,495 | $4.3M | $3.2M | $1.9M | $1.8M | −$251,619 |
| Cash from operating activities | −$3.7M | −$1.3M | −$9.0M | −$2.4M | −$884,143 | −$2.2M | −$1.8M | −$1.2M | −$919,203 | −$1.3M | −$1.1M | −$1.7M |
| Investing activities | ||||||||||||
| Capital expenditures | −$11,733 | −$2.5M | −$114.9M | −$56,100 | −$1.0M | −$839,937 | $0 | $0 | $0 | $0 | $0 | $0 |
| Investments (net) | — | — | — | $166,485 | −$918,307 | −$4.8M | −$1.5M | −$356,079 | — | — | — | — |
| Acquisitions & other investing | $23,579 | $0 | $4.9M | $56,100 | $1.0M | $839,937 | — | $0 | — | −$225,000 | — | — |
| Cash from investing activities | $11,846 | −$2.5M | −$110.0M | $166,485 | −$918,307 | −$4.8M | — | −$356,079 | — | −$225,000 | — | — |
| Financing activities | ||||||||||||
| Share repurchases & issuance (net) | −$806,000 | −$3.0M | — | — | $0 | $0 | — | — | — | — | — | — |
| Net borrowing (repayment) | −$564,000 | $6.7M | $1.1M | $1.3M | $562,000 | $8.1M | −$529,185 | $0 | — | — | — | — |
| Shares issued | $0 | $0 | $131.2M | $0 | $0 | $0 | $2.8M | $0 | $0 | $0 | $0 | $0 |
| Other financing | $0 | $0 | $8.0M | $1.6M | $47,000 | −$145,000 | $0 | −$50,000 | $1.1M | $281,432 | $640,096 | −$11,401 |
| Cash from financing activities | −$1.4M | $3.7M | $140.2M | $2.9M | $609,000 | $7.9M | $2.2M | −$50,000 | $1.1M | $281,432 | $640,096 | −$11,401 |
| Summary | ||||||||||||
| Net change in cash | −$5.1M | −$235,000 | $21.2M | $709,388 | −$1.2M | $862,115 | −$883,426 | −$1.6M | $74,105 | −$1.0M | −$418,775 | −$1.7M |
| Cash at end of period | $16.8M | $21.9M | $22.1M | $894,701 | $185,313 | $1.4M | $489,868 | $1.4M | $2.9M | $2.9M | $586,565 | $1.0M |
| Free cash flow | −$3.7M | −$3.9M | −$123.9M | −$2.4M | −$1.9M | −$2.2M | −$3.4M | −$1.2M | −$919,203 | −$1.3M | −$1.1M | −$1.7M |
| Free cash flow margin | −132.1% | −155.2% | −11,374.3% | −462.8% | −422.3% | −630.8% | −12,629.1% | — | −2,224.9% | −8,042.1% | — | — |
| Capex / revenue | 0.4% | 101.5% | 10,547.3% | 10.7% | 226.6% | 243.9% | 0.0% | — | 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.
AVX cash generation
In fiscal 2025 (ended December 31, 2025), Avax One Technology generated -$14.4 million of cash from operations and spent $116.0 million on capital expenditures, leaving free cash flow of -$130.5 million, −5,573.2% of revenue. It returned $0.3 million to shareholders through dividends ($0) and net share buybacks ($0.3 million). Cash and equivalents rose by $21.6 million over the year.
Related: AVX income statement, AVX balance sheet. See the AVX stock overview for the latest quote and news.
AVX cash flow FAQ
What is Avax One Technology's free cash flow?
Avax One Technology's free cash flow was -$130.5 million in fiscal 2025: -$14.4 million of operating cash flow minus $116.0 million of capital expenditures It was -$6.8 million a year earlier..
How much cash does Avax One Technology generate from operations?
Avax One Technology generated -$14.4 million of cash from operating activities in fiscal 2025.
How much does Avax One Technology spend on capital expenditures?
Avax One Technology spent $116.0 million on capital expenditures in fiscal 2025, 4,956.1% of revenue, compared with $1.5 million the year before.
How much stock does Avax One Technology buy back?
Avax One Technology spent $0.3 million on net share repurchases in fiscal 2025.