Citius Pharmaceuticals, Inc. (CTXR) Cash Flow Statement
Where CTXR’s cash came from and went, FY2025
September 30, 2025 · U.S. dollars- Cash from operations
- −$26.6M
- Capital expenditures
- $0
- Free cash flow
- −$26.6M
- Returned to shareholders
- —
- Change in cash
- $1.0M cash at year-end $4.3M
Cash from operations
−$26.6M
Acquisitions & other
−$5.8M
Net borrowing (repayment)
+$1.3M
Shares issued
+$32.3M
Other financing
−$300,000
Change in cash
$1.0M
Drawn to scale: where the cash came from and how it was used. Hover for values.
CTXR operating cash flow, capex and free cash flow
Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)
CTXR cash flow trends, FY2016–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −$5.9MFY2016 | −$26.6MFY2025 | — | |
| Capital expenditures | $2,126FY2016 | $0FY2025 | −100.0% | |
| Free cash flow | −$5.9MFY2016 | −$26.6MFY2025 | — | |
| Stock-based compensation | $732,151FY2016 | $10.8MFY2025 | +34.9%/yr | |
| Share buybacks (net) | $0FY2016 | $0FY2021 | — |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CTXR cash flow by activity
OperatingInvestingFinancingChange in cash
CTXR 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).
CTXR cash flow statement
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | −$39.7M | −$39.4M | −$32.5M | −$33.6M | −$23.1M | −$17.5M | −$15.6M | −$12.5M | −$10.4M | −$8.3M |
| Depreciation & amortization | $214,250 | $209,611 | $194,316 | $179,677 | $164,868 | $152,364 | $893 | $1,753 | $2,632 | $1,343 |
| Stock-based compensation | $10.8M | $11.8M | $6.6M | $3.9M | $1.5M | $803,261 | $715,983 | $779,701 | $986,620 | $732,151 |
| Change in working capital | $1.1M | −$1.7M | −$4.0M | $239,555 | −$2.7M | −$866,968 | $2.2M | $509,846 | $115,518 | $668,163 |
| Other non-cash items | $1.1M | $860,175 | $678,000 | $954,204 | −$98,557 | $528,770 | $211,597 | −$72,800 | $1.3M | $993,620 |
| Cash from operating activities | −$26.6M | −$28.2M | −$29.1M | −$28.4M | −$24.3M | −$16.9M | −$12.4M | −$11.3M | −$8.0M | −$5.9M |
| Investing activities | ||||||||||
| Capital expenditures | $0 | $0 | −$2 | $0 | −$40.0M | −$1,831 | −$1,831 | −$1,831 | −$2,126 | −$2,126 |
| Investments (net) | — | −$5.0M | $0 | −$40.0M | −$40.0M | −$1,831 | $0 | $0 | −$2,126 | $255,748 |
| Acquisitions & other investing | −$5.8M | $0 | — | — | $40.0M | $1,831 | $0 | $0 | $2,126 | $2,126 |
| Cash from investing activities | −$5.8M | −$5.0M | — | — | −$40.0M | −$1,831 | −$1,831 | −$1,831 | −$2,126 | $255,748 |
| Financing activities | ||||||||||
| Share repurchases & issuance (net) | — | — | — | — | $120.6M | $7.2M | $23,216 | $17.3M | $6.1M | $5.4M |
| Net borrowing (repayment) | $1.3M | $0 | — | $0 | −$172,470 | $164,583 | $164,583 | $164,583 | $4.2M | −$100,000 |
| Shares issued | $32.3M | $13.8M | $13.8M | $0 | $89.4M | $15.6M | $11.1M | $16.2M | $0 | $0 |
| Other financing | −$300,000 | −$3.8M | $31,267 | $31,267 | −$89.4M | $0 | −$164,583 | −$16.3M | $556,148 | −$64,801 |
| Cash from financing activities | $33.3M | $10.0M | $13.8M | $31,267 | $120.5M | $22.9M | $11.1M | $17.3M | $10.9M | $5.3M |
| Summary | ||||||||||
| Net change in cash | $1.0M | −$23.2M | −$15.2M | −$28.4M | $56.2M | $6.0M | −$1.3M | $6.0M | $2.9M | −$381,786 |
| Cash at end of period | $4.3M | $3.3M | $26.5M | $41.7M | $70.1M | $13.9M | $7.9M | $9.2M | $3.2M | $294,351 |
| Free cash flow | −$26.6M | −$28.2M | −$29.1M | −$28.4M | −$64.3M | −$16.9M | −$12.4M | −$11.3M | −$8.0M | −$5.9M |
| 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 | −$8.9M | −$28.1M | −$9.4M | −$8.7M | −$9.2M | −$11.5M | −$10.3M | −$11.1M | −$10.6M | −$8.5M | −$9.2M | −$9.9M |
| Depreciation & amortization | $1.8M | $1.8M | $556,955 | $62,038 | $41,367 | $56,010 | $54,835 | $53,685 | $52,848 | $52,070 | $51,008 | $49,969 |
| Stock-based compensation | $3.8M | $3.8M | $4.3M | $2.9M | $2.7M | $2.7M | $2.5M | $2.6M | $3.1M | $3.1M | $3.1M | $3.1M |
| Change in working capital | −$2.4M | $21.5M | −$8.9M | −$6.4M | $771,971 | $3.9M | $2.7M | $2.3M | −$1.2M | −$2.6M | −$233,464 | −$126,192 |
| Other non-cash items | −$3.0M | −$231,210 | $440,347 | $290,840 | $264,240 | $264,240 | $264,240 | $144,001 | $253,950 | $242,079 | $220,146 | $144,000 |
| Cash from operating activities | −$8.7M | −$1.3M | −$13.0M | −$11.9M | −$5.4M | −$4.5M | −$4.7M | −$5.9M | −$8.4M | −$7.8M | −$6.1M | −$6.8M |
| Investing activities | ||||||||||||
| Capital expenditures | $0 | $0 | $0 | −$4 | $0 | −$4 | $0 | $0 | −$4 | $0 | $0 | $0 |
| Acquisitions & other investing | −$2.0M | −$600,000 | −$4.4M | −$5.7M | — | — | −$5.0M | −$5.0M | — | — | — | — |
| Cash from investing activities | −$2.0M | −$600,000 | −$4.4M | −$5.8M | — | — | −$5.0M | −$5.0M | — | — | — | — |
| Financing activities | ||||||||||||
| Net borrowing (repayment) | $9.6M | — | — | $0 | $1.3M | — | — | — | — | — | — | — |
| Shares issued | $4.5M | $0 | $20.9M | $15.8M | $10.5M | $3.5M | $2.6M | $84,733 | $13.7M | $0 | $0 | $0 |
| Other financing | $9.0M | −$1.2M | $0 | $100 | −$300,100 | $0 | $0 | −$3.8M | $0 | $0 | — | −$687 |
| Cash from financing activities | $23.1M | −$1.2M | $20.9M | $15.8M | $11.5M | $3.5M | $2.6M | −$3.7M | $13.7M | $0 | — | −$687 |
| Summary | ||||||||||||
| Net change in cash | $12.4M | −$3.1M | $3.5M | −$1.8M | $6.1M | −$1.1M | −$2.2M | −$14.7M | $5.4M | −$7.8M | −$6.1M | −$6.8M |
| Cash at end of period | $17.0M | $4.6M | $7.7M | $4.3M | $6.1M | $26,410 | $1.1M | $3.3M | $17.9M | $12.6M | $20.3M | $26.5M |
| Free cash flow | −$8.7M | −$1.3M | −$13.0M | −$11.9M | −$5.4M | −$4.5M | −$4.7M | −$5.9M | −$8.4M | −$7.8M | −$6.1M | −$6.8M |
| Free cash flow margin | −580.9% | −78.0% | −329.8% | — | — | — | −3,030.8% | −3,792.0% | — | — | — | — |
| Capex / revenue | 0.0% | 0.0% | 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.
CTXR cash generation
In fiscal 2025 (ended September 30, 2025), Citius Pharmaceuticals generated -$26.6 million of cash from operations and spent $0 on capital expenditures, leaving free cash flow of -$26.6 million. Cash and equivalents rose by $1.0 million over the year.
Related: CTXR income statement, CTXR balance sheet. See the CTXR stock overview for the latest quote and news.
CTXR cash flow FAQ
What is Citius Pharmaceuticals's free cash flow?
Citius Pharmaceuticals's free cash flow was -$26.6 million in fiscal 2025: -$26.6 million of operating cash flow minus $0 of capital expenditures It was -$28.2 million a year earlier..
How much cash does Citius Pharmaceuticals generate from operations?
Citius Pharmaceuticals generated -$26.6 million of cash from operating activities in fiscal 2025.