BioRestorative Therapies, Inc. (BRTX) Cash Flow Statement
Where BRTX’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- −$10.8M
- Capital expenditures
- $116,069 32.3% of revenue
- Free cash flow
- −$10.9M −3,031.7% margin
- Returned to shareholders
- $270,573
- Change in cash
- $963,298 cash at year-end $1.5M
Drawn to scale: where the cash came from and how it was used. Hover for values.
BRTX operating cash flow, capex and free cash flow
BRTX cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −$5.0M2016 | −$10.8M2025 | — | |
| Capital expenditures | $188,7642016 | $116,0692025 | −5.3%/yr | |
| Free cash flow | −$5.2M2016 | −$10.9M2025 | — | |
| Free cash flow margin | −14,279.8%2016 | −3,031.7%2025 | +11,248.1 pts | |
| Stock-based compensation | $2.5M2016 | $3.3M2025 | +3.1%/yr | |
| Dividends paid | $569,0682023 | $270,5732025 | −31.0%/yr | |
| Share buybacks (net) | $02016 | $02020 | — | |
| Capex / revenue | 519.2%2016 | 32.3%2025 | −487.0 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
BRTX cash flow by activity
BRTX 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).
BRTX cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | −$14.2M | −$9.0M | −$10.4M | −$13.2M | −$44.3M | −$11.3M | −$14.6M | −$12.5M | −$9.4M | −$8.6M |
| Depreciation & amortization | $209,985 | $189,056 | $165,735 | $120,545 | $89,108 | $121,384 | $217,359 | $240,372 | $259,259 | $258,425 |
| Stock-based compensation | $3.3M | $2.8M | $7.8M | $12.6M | $23.1M | $691,701 | $1.7M | $2.4M | $3.6M | $2.5M |
| Change in working capital | $1.3M | $28,653 | $515,326 | $14,144 | $324,685 | $572,350 | $539,853 | −$45,776 | $821,328 | $180,928 |
| Other non-cash items | −$1.4M | −$2.3M | −$4.5M | −$5.4M | $17.5M | $7.9M | $5.3M | $4.8M | $909,443 | $657,479 |
| Cash from operating activities | −$10.8M | −$8.2M | −$6.4M | −$5.9M | −$3.3M | −$2.0M | −$6.9M | −$5.1M | −$3.9M | −$5.0M |
| Investing activities | ||||||||||
| Capital expenditures | −$116,069 | −$106,189 | −$171,043 | −$440,223 | −$30,658 | −$35,631 | −$35,631 | −$12,869 | −$3,617 | −$188,764 |
| Investments (net) | $9.0M | $514,529 | −$171,808 | −$13.5M | −$30,658 | −$13.0M | −$35,631 | −$12,869 | −$3,617 | −$188,764 |
| Acquisitions & other investing | $0 | $106,189 | $3.6M | $519,757 | $30,658 | $13.0M | $35,631 | $12,869 | $3,617 | $188,764 |
| Cash from investing activities | $8.9M | $514,529 | $3.3M | −$13.4M | −$30,658 | −$35,631 | −$35,631 | −$12,869 | −$3,617 | −$188,764 |
| Financing activities | ||||||||||
| Dividends paid | −$270,573 | −$623,801 | −$569,068 | — | — | — | — | — | — | — |
| Share repurchases & issuance (net) | — | — | — | — | — | $10,000 | — | — | $2.1M | $3.7M |
| Net borrowing (repayment) | — | — | — | $0 | $250,000 | $3.8M | $6.0M | $4.2M | $2.2M | $1.3M |
| Shares issued | $3.1M | $0 | $2.3M | $411,701 | $21.1M | $10,000 | $1.7M | $175,000 | $0 | $0 |
| Other financing | $29,114 | $8.0M | $652,141 | $20.7M | $0 | $1.2M | −$813,730 | $414,168 | $0 | $0 |
| Cash from financing activities | $2.9M | $7.4M | $2.3M | $21.1M | $21.3M | $5.0M | $6.8M | $4.8M | $4.3M | $5.1M |
| Summary | ||||||||||
| Net change in cash | $963,298 | −$336,487 | −$829,395 | −$19.3M | $18.0M | $3.1M | −$115,859 | −$334,157 | $419,858 | −$134,733 |
| Cash at end of period | $1.5M | $547,890 | $884,377 | $1.7M | $21.0M | $3.1M | $1,664 | $117,523 | $451,680 | $31,822 |
| Free cash flow | −$10.9M | −$8.3M | −$6.6M | −$6.4M | −$3.4M | −$2.0M | −$7.0M | −$5.1M | −$3.9M | −$5.2M |
| Free cash flow margin | −3,031.7% | −2,078.9% | −4,527.6% | −5,303.3% | −7,305.6% | −2,551.0% | −5,349.5% | −4,610.4% | −4,762.3% | −14,279.8% |
| Capex / revenue | 32.3% | 26.5% | 117.3% | 367.5% | 66.6% | 46.3% | 27.4% | 11.6% | 4.5% | 519.2% |
| Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | −$2.2M | −$3.2M | −$3.0M | −$2.7M | −$5.3M | −$1.6M | −$1.1M | −$4.0M | −$2.2M | −$2.8M | $4.8M | −$5.7M |
| Depreciation & amortization | $52,394 | $52,836 | $52,620 | $52,748 | $51,781 | $50,369 | $48,269 | $47,705 | $42,713 | $42,713 | $42,145 | $41,526 |
| Stock-based compensation | $290,215 | $447,860 | $399,932 | $468,708 | $2.0M | $175,625 | $284,245 | $324,322 | $2.0M | $1.5M | $1.5M | $1.5M |
| Change in working capital | −$769,811 | $895,428 | $355,988 | $89,274 | −$31,214 | $88,591 | $222,772 | $192,989 | −$475,699 | $129,061 | $181,229 | $283,008 |
| Other non-cash items | −$1.2M | −$603,661 | −$671,400 | −$648,334 | $531,320 | −$1.0M | −$1.2M | $1.6M | −$1.7M | −$584,385 | −$7.6M | $2.6M |
| Cash from operating activities | −$3.8M | −$2.4M | −$2.9M | −$2.7M | −$2.8M | −$2.3M | −$1.7M | −$1.9M | −$2.3M | −$1.8M | −$1.2M | −$1.3M |
| Investing activities | ||||||||||||
| Capital expenditures | −$2 | −$79,669 | −$3 | −$3 | −$36,400 | −$12,434 | −$58,459 | −$35,296 | −$70,024 | −$70,024 | −$11,948 | −$29,046 |
| Investments (net) | $968,447 | $2.5M | $2.0M | $2.1M | $2.4M | $1.5M | $936,753 | $3.0M | −$4.9M | $100,666 | −$23,056 | $665,801 |
| Acquisitions & other investing | $2 | $0 | $3 | $3 | $36,400 | $12,434 | $58,459 | $35,296 | $70,024 | — | $13,646 | $182,275 |
| Cash from investing activities | $968,447 | $2.4M | $2.0M | $2.1M | $2.4M | $1.5M | $936,753 | $3.0M | −$4.9M | — | −$21,358 | $819,030 |
| Financing activities | ||||||||||||
| Dividends paid | −$6,064 | −$68,104 | — | −$73,743 | −$102,799 | −$131,325 | −$340,880 | — | −$151,596 | — | — | — |
| Shares issued | $0 | $1.1M | $0 | $927,335 | $1.1M | $0 | $0 | $0 | $0 | $85,643 | $1.9M | $0 |
| Other financing | $4.4M | −$93,653 | −$49,308 | $34,546 | $111,602 | $5,009 | $340,880 | −$12,843 | $7.7M | $0 | $0 | $411,701 |
| Cash from financing activities | $4.4M | $923,243 | −$49,308 | $888,138 | $1.1M | −$126,316 | $0 | −$12,843 | $7.5M | $85,643 | $1.9M | $411,701 |
| Summary | ||||||||||||
| Net change in cash | $1.6M | $908,744 | −$952,807 | $326,462 | $680,899 | −$941,554 | −$762,803 | $1.1M | $272,703 | −$1.6M | $653,223 | −$52,823 |
| Cash at end of period | $3.1M | $1.5M | $602,444 | $1.6M | $1.2M | $547,890 | $1.5M | $2.3M | $1.2M | $2.4M | $2.4M | $1.8M |
| Free cash flow | −$3.8M | −$2.5M | −$2.9M | −$2.7M | −$2.8M | −$2.4M | −$1.8M | −$1.9M | −$2.3M | −$1.8M | −$1.2M | −$1.3M |
| Free cash flow margin | −16,434.1% | −12,728.8% | −24,585.9% | −888.2% | −11,260.7% | −5,451.0% | −752.6% | −2,133.0% | −6,622.2% | −9,551.6% | −3,880.7% | −2,035.0% |
| Capex / revenue | 0.0% | 406.5% | 0.0% | 0.0% | 145.6% | 28.7% | 25.0% | 39.6% | 200.1% | 362.8% | 38.9% | 45.0% |
| Operating cash flow / net income | — | — | — | — | — | — | — | — | — | — | −0.25 | — |
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.
BRTX cash generation
In fiscal 2025 (ended December 31, 2025), BioRestorative Therapies generated -$10.8 million of cash from operations and spent $0.1 million on capital expenditures, leaving free cash flow of -$10.9 million, −3,031.7% of revenue. It returned $0.3 million to shareholders through dividends ($0.3 million) and net share buybacks ($0). Cash and equivalents rose by $1.0 million over the year.
Related: BRTX income statement, BRTX balance sheet. See the BRTX stock overview for the latest quote and news.
BRTX cash flow FAQ
What is BioRestorative Therapies's free cash flow?
BioRestorative Therapies's free cash flow was -$10.9 million in fiscal 2025: -$10.8 million of operating cash flow minus $0.1 million of capital expenditures It was -$8.3 million a year earlier..
How much cash does BioRestorative Therapies generate from operations?
BioRestorative Therapies generated -$10.8 million of cash from operating activities in fiscal 2025.
How much does BioRestorative Therapies spend on capital expenditures?
BioRestorative Therapies spent $0.1 million on capital expenditures in fiscal 2025, 32.3% of revenue, compared with $0.1 million the year before.
How much does BioRestorative Therapies pay in dividends?
BioRestorative Therapies paid $0.3 million in dividends in fiscal 2025.