Liberty Defense Holdings, Ltd. (DETX) Cash Flow Statement
Where DETX’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- −$11.3M
- Capital expenditures
- $87,119 5.8% of revenue
- Free cash flow
- −$11.4M −763.3% margin
- Returned to shareholders
- —
- Change in cash
- −$833,935 cash at year-end $319,294
Drawn to scale: where the cash came from and how it was used. Hover for values.
DETX operating cash flow, capex and free cash flow
DETX cash flow trends, 2021–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −$7.2M2021 | −$11.3M2025 | — | |
| Capital expenditures | $281,4002021 | $87,1192025 | −25.4%/yr | |
| Free cash flow | −$7.5M2021 | −$11.4M2025 | — | |
| Free cash flow margin | −385.8%2023 | −763.3%2025 | −377.5 pts | |
| Stock-based compensation | $2.9M2021 | $1.4M2025 | −16.8%/yr | |
| Dividends paid | $02021 | $02022 | — | |
| Capex / revenue | 14.8%2023 | 5.8%2025 | −9.0 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
DETX cash flow by activity
DETX 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).
DETX cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Operating activities | |||||
| Net income | −$14.1M | −$8.8M | −$9.4M | −$12.2M | −$12.4M |
| Depreciation & amortization | $252,613 | $396,315 | $593,169 | $1.1M | $163,821 |
| Stock-based compensation | $1.4M | $384,703 | $601,001 | $2.0M | $2.9M |
| Change in working capital | −$648,428 | −$1.2M | $1.3M | $98,983 | −$410,503 |
| Other non-cash items | $1.8M | $2.8M | $1.3M | $93,542 | $2.5M |
| Cash from operating activities | −$11.3M | −$6.5M | −$5.5M | −$8.9M | −$7.2M |
| Investing activities | |||||
| Capital expenditures | −$87,119 | −$121,217 | −$221,095 | −$925,479 | −$281,400 |
| Financing activities | |||||
| Dividends paid | — | — | — | $0 | $0 |
| Net borrowing (repayment) | −$356,001 | $705,371 | $1.2M | −$138,173 | −$625,383 |
| Shares issued | $7.3M | $7.0M | $3.7M | $9.4M | $10.2M |
| Other financing | $3.4M | $87,367 | $224,915 | $58,580 | −$297,037 |
| Cash from financing activities | $10.4M | $7.8M | $5.1M | $9.3M | $9.3M |
| Summary | |||||
| Net change in cash | −$833,935 | $1.2M | −$676,510 | −$664,100 | $1.3M |
| Cash at end of period | $319,294 | $1.2M | $963 | $677,473 | $1.3M |
| Free cash flow | −$11.4M | −$6.6M | −$5.8M | −$9.8M | −$7.5M |
| Free cash flow margin | −763.3% | −270.3% | −385.8% | — | — |
| Capex / revenue | 5.8% | 5.0% | 14.8% | — | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | |
|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||
| Net income | −$2.2M | −$2.7M | −$3.8M | −$2.8M | −$3.8M | −$3.8M | −$2.6M | −$2.4M |
| Depreciation & amortization | $34,374 | $100,618 | $55,400 | $60,324 | $30,829 | $106,060 | $74,651 | $96,174 |
| Stock-based compensation | $191,275 | $161,507 | $100,763 | $279,143 | $414,275 | $595,648 | −$11,388 | $169,297 |
| Change in working capital | −$4.4M | $1.2M | $119,867 | −$1.1M | $982,879 | −$697,639 | −$2.4M | $218,295 |
| Other non-cash items | −$696,881 | $403,525 | $615,889 | $410,717 | $535,173 | $227,304 | $1.5M | $434,069 |
| Cash from operating activities | −$7.1M | −$886,876 | −$2.9M | −$3.1M | −$1.8M | −$3.6M | −$3.4M | −$1.5M |
| Investing activities | ||||||||
| Capital expenditures | −$35,250 | −$8,983 | $0 | −$109,903 | −$938 | −$151,460 | $0 | −$30,062 |
| Financing activities | ||||||||
| Net borrowing (repayment) | −$3.2M | $11,046 | −$91,062 | $409,226 | −$491,571 | −$182,594 | −$1.4M | $1.8M |
| Shares issued | $18.1M | $566,750 | $1.2M | $3.1M | $0 | $3.2M | $5.0M | $0 |
| Other financing | $0 | $0 | $1.3M | $0 | −$94,376 | $2.1M | $1.4M | −$14,496 |
| Cash from financing activities | $14.8M | $577,796 | $2.4M | $3.5M | −$585,947 | $5.0M | $5.0M | $1.8M |
| Summary | ||||||||
| Net change in cash | $7.6M | −$296,885 | −$321,613 | $285,222 | −$2.3M | $1.5M | $762,713 | $215,049 |
| Cash at end of period | $7.6M | $22,409 | $319,294 | $640,907 | $355,685 | $2.7M | $1.2M | $390,516 |
| Free cash flow | −$7.1M | −$895,859 | −$2.8M | −$3.2M | −$1.8M | −$3.7M | −$3.4M | −$1.5M |
| Free cash flow margin | −16,860.0% | −97.4% | — | −850.9% | −417.7% | −351.0% | — | −138.4% |
| Capex / revenue | 83.5% | 1.0% | — | 29.4% | 0.2% | 14.4% | — | 2.7% |
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.
DETX cash generation
In fiscal 2025 (ended December 31, 2025), Liberty Defense Holdings, Ltd. generated -$11.3 million of cash from operations and spent $0.1 million on capital expenditures, leaving free cash flow of -$11.4 million, −763.3% of revenue. Cash and equivalents fell by $0.8 million over the year.
Related: DETX income statement, DETX balance sheet. See the DETX stock overview for the latest quote and news.
DETX cash flow FAQ
What is Liberty Defense Holdings, Ltd.'s free cash flow?
Liberty Defense Holdings, Ltd.'s free cash flow was -$11.4 million in fiscal 2025: -$11.3 million of operating cash flow minus $0.1 million of capital expenditures It was -$6.6 million a year earlier..
How much cash does Liberty Defense Holdings, Ltd. generate from operations?
Liberty Defense Holdings, Ltd. generated -$11.3 million of cash from operating activities in fiscal 2025.
How much does Liberty Defense Holdings, Ltd. spend on capital expenditures?
Liberty Defense Holdings, Ltd. spent $0.1 million on capital expenditures in fiscal 2025, 5.8% of revenue, compared with $0.1 million the year before.