Clearmind Medicine Inc. (CMND) Cash Flow Statement
Where CMND’s cash came from and went, FY2025
October 31, 2025 · U.S. dollars- Cash from operations
- −$4.7M
- Capital expenditures
- $0
- Free cash flow
- −$4.7M
- Returned to shareholders
- —
- Change in cash
- −$2.7M cash at year-end $3.9M
Drawn to scale: where the cash came from and how it was used. Hover for values.
CMND operating cash flow, capex and free cash flow
CMND cash flow trends, FY2017–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −$8,929FY2017 | −$4.7MFY2025 | — | |
| Capital expenditures | $18,422FY2017 | $0FY2025 | −100.0% | |
| Free cash flow | −$27,546FY2017 | −$4.7MFY2025 | — |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CMND cash flow by activity
CMND 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).
CMND cash flow statement
| FY2025 | FY2017 | |
|---|---|---|
| Operating activities | ||
| Net income | −$3.9M | −$6,528 |
| Depreciation & amortization | $49,364 | — |
| Stock-based compensation | $805,815 | — |
| Change in working capital | −$39,568 | −$2,400 |
| Other non-cash items | −$1.7M | −$1 |
| Cash from operating activities | −$4.7M | −$8,929 |
| Investing activities | ||
| Capital expenditures | $0 | −$18,422 |
| Investments (net) | −$528,519 | — |
| Acquisitions & other investing | −$13,447 | $0 |
| Cash from investing activities | −$541,966 | −$18,422 |
| Financing activities | ||
| Net borrowing (repayment) | $2.2M | — |
| Shares issued | $0 | $0 |
| Other financing | $414,844 | $130,000 |
| Cash from financing activities | $2.6M | $130,000 |
| Summary | ||
| Net change in cash | −$2.7M | $102,454 |
| Cash at end of period | $3.9M | $102,454 |
| Free cash flow | −$4.7M | −$27,546 |
| Jul '26 | Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | |
|---|---|---|---|---|---|---|---|
| Operating activities | |||||||
| Net income | −$907,291 | −$2.0M | −$3.9M | −$964,044 | −$1.3M | −$1.1M | −$1.1M |
| Depreciation & amortization | $14,218 | $13,901 | $13,318 | $12,838 | $12,523 | $11,970 | $12,038 |
| Stock-based compensation | $131,252 | $131,252 | $1.4M | $162,075 | $77,790 | $320,147 | $380,738 |
| Change in working capital | $7,393 | −$380,854 | $91,662 | $14,431 | $148,444 | −$96,577 | −$149,069 |
| Other non-cash items | −$1.1M | $491,155 | $249,238 | −$1.0M | −$10,003 | −$670,012 | −$437,521 |
| Cash from operating activities | −$1.9M | −$1.8M | −$2.1M | −$1.8M | −$1.1M | −$1.5M | −$1.3M |
| Investing activities | |||||||
| Capital expenditures | −$4 | $0 | $0 | $0 | $0 | −$4 | −$5 |
| Investments (net) | $1,842 | −$650,001 | $0 | −$524,433 | $112,954 | −$200,000 | $69,462 |
| Acquisitions & other investing | −$764,297 | −$4,069 | — | −$210,586 | $0 | −$76,316 | $5 |
| Cash from investing activities | −$762,459 | −$654,070 | — | −$735,019 | $112,954 | −$276,320 | $69,462 |
| Financing activities | |||||||
| Net borrowing (repayment) | −$4.6M | $4.5M | −$11,703 | $2.2M | −$10,812 | −$10,298 | −$10,274 |
| Shares issued | $7.9M | $0 | $7.2M | $0 | $0 | $0 | $0 |
| Other financing | −$181,780 | $120,509 | $178,609 | $899,006 | $0 | −$3,929 | $415,086 |
| Cash from financing activities | $3.1M | $4.7M | $7.4M | $3.1M | −$10,812 | −$14,227 | $404,812 |
| Summary | |||||||
| Net change in cash | $619,491 | $2.2M | $5.3M | $599,470 | −$977,182 | −$1.8M | −$792,617 |
| Cash at end of period | $12.0M | $11.4M | $9.3M | $5.5M | $3.5M | $6.2M | $5.8M |
| Free cash flow | −$1.9M | −$1.8M | −$2.1M | −$1.8M | −$1.1M | −$1.5M | −$1.3M |
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.
CMND cash generation
In fiscal 2025 (ended October 31, 2025), Clearmind Medicine generated -$4.7 million of cash from operations and spent $0 on capital expenditures, leaving free cash flow of -$4.7 million. Cash and equivalents fell by $2.7 million over the year.
Related: CMND income statement. See the CMND stock overview for the latest quote and news.
CMND cash flow FAQ
What is Clearmind Medicine's free cash flow?
Clearmind Medicine's free cash flow was -$4.7 million in fiscal 2025: -$4.7 million of operating cash flow minus $0 of capital expenditures It was -$0.0 million a year earlier..
How much cash does Clearmind Medicine generate from operations?
Clearmind Medicine generated -$4.7 million of cash from operating activities in fiscal 2025.