GT Biopharma, Inc. (GTBP) Cash Flow Statement
Where GTBP’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- −$12.9M
- Capital expenditures
- $0
- Free cash flow
- −$12.9M
- Returned to shareholders
- $229,000
- Change in cash
- $2.9M cash at year-end $6.9M
Drawn to scale: where the cash came from and how it was used. Hover for values.
GTBP operating cash flow, capex and free cash flow
GTBP cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −$1.9M2016 | −$12.9M2025 | — | |
| Capital expenditures | $4,0002016 | $02025 | −100.0% | |
| Free cash flow | −$1.9M2016 | −$12.9M2025 | — | |
| Stock-based compensation | $6.6M2016 | $432,0002025 | −26.1%/yr | |
| Dividends paid | $02024 | $229,0002025 | — | |
| Share buybacks (net) | $02021 | $1,0002023 | — |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
GTBP cash flow by activity
GTBP 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).
GTBP cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | −$28.4M | −$13.2M | −$7.6M | −$20.9M | −$58.0M | −$28.3M | −$38.6M | −$259.2M | −$143.2M | $21.0M |
| Depreciation & amortization | — | — | $13.6M | — | — | $4,000 | $4,000 | $7,000 | $2,000 | $1,000 |
| Stock-based compensation | $432,000 | $230,000 | $2.2M | $7.6M | $33.9M | $269,000 | $5.3M | $9.7M | $130.1M | $6.6M |
| Change in working capital | −$920,000 | $828,000 | $1.8M | −$2.0M | $7.9M | $2.4M | $4.1M | $111,000 | $1.4M | $2.8M |
| Other non-cash items | $15.9M | −$800,000 | −$18.9M | $10,000 | $538,000 | $18.4M | $25.6M | $238.7M | $6.3M | −$32.4M |
| Cash from operating activities | −$12.9M | −$12.9M | −$8.9M | −$15.2M | −$15.6M | −$7.3M | −$3.7M | −$10.7M | −$5.4M | −$1.9M |
| Investing activities | ||||||||||
| Capital expenditures | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$36,000 | −$4,000 | −$4,000 |
| Investments (net) | $0 | $12.9M | $5.0M | $12.1M | −$23.0M | −$23.0M | $200,000 | −$36,000 | −$4,000 | $0 |
| Acquisitions & other investing | — | $0 | −$7.0M | $0 | $0 | $0 | $0 | $36,000 | $4,000 | $3,000 |
| Cash from investing activities | — | $12.9M | −$2.0M | $12.1M | −$23.0M | −$23.0M | $200,000 | −$36,000 | −$4,000 | −$1,000 |
| Financing activities | ||||||||||
| Dividends paid | −$229,000 | $0 | — | — | — | — | — | — | — | — |
| Share repurchases & issuance (net) | — | — | −$1,000 | −$224,000 | $0 | — | — | — | — | — |
| Net borrowing (repayment) | — | — | — | $0 | $1.2M | $12.5M | $3.4M | $10.7M | $6.0M | $1.9M |
| Shares issued | $10.5M | $3.0M | $6.3M | $6.3M | $24.7M | $0 | $0 | $0 | $0 | $0 |
| Other financing | $5.5M | $0 | $1,000 | −$6.3M | $16.4M | $0 | $0 | −$533,000 | $0 | $0 |
| Cash from financing activities | $15.8M | $3.0M | $6.3M | −$224,000 | $42.3M | $12.5M | $3.4M | $10.2M | $6.0M | $1.9M |
| Summary | ||||||||||
| Net change in cash | $2.9M | $3.0M | −$4.6M | −$3.3M | $3.7M | $5.3M | −$32,000 | −$516,000 | $557,000 | −$28,000 |
| Cash at end of period | $6.9M | $4.0M | $1.1M | $5.7M | $9.0M | $5.3M | $28,000 | $60,000 | $576,000 | $19,000 |
| Free cash flow | −$12.9M | −$12.9M | −$8.9M | −$15.2M | −$15.6M | −$7.3M | −$3.7M | −$10.7M | −$5.4M | −$1.9M |
| Free cash flow margin | — | — | — | — | — | — | — | — | −20,125.9% | — |
| Capex / revenue | — | — | — | — | — | — | — | — | 14.8% | — |
| Operating cash flow / net income | — | — | — | — | — | — | — | — | — | −0.09 |
| 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 | −$4.5M | −$2.8M | −$5.7M | −$3.1M | −$1.4M | −$776,000 | −$3.8M | −$3.4M | −$3.7M | −$2.3M | −$3.0M | −$2.4M |
| Depreciation & amortization | — | — | — | — | — | — | — | — | — | $3.1M | — | — |
| Stock-based compensation | $46,000 | $46,000 | $432,000 | $379,000 | $7,000 | $3,000 | $8,000 | $0 | $120,000 | $102,000 | $433,000 | $547,000 |
| Change in working capital | $212,000 | $330,000 | $1.6M | −$710,000 | −$545,000 | −$1.3M | $60,000 | $767,000 | $147,000 | −$1.4M | $376,000 | $368,000 |
| Other non-cash items | $0 | −$11,000 | −$383,000 | −$232,000 | −$1.0M | −$126,000 | $1.2M | −$93,000 | −$93,000 | −$3.7M | $106,000 | −$463,000 |
| Cash from operating activities | −$4.3M | −$2.5M | −$4.0M | −$3.7M | −$3.0M | −$2.2M | −$2.5M | −$2.7M | −$3.5M | −$4.2M | −$2.0M | −$2.0M |
| Investing activities | ||||||||||||
| Capital expenditures | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Investments (net) | — | — | $0 | $0 | $0 | $0 | $1,000 | −$1,000 | $7.9M | $5.0M | $478,000 | $1.8M |
| Acquisitions & other investing | — | — | — | — | — | — | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash from investing activities | — | — | — | — | — | — | $1,000 | −$1,000 | $7.9M | $5.0M | $478,000 | $1.8M |
| Financing activities | ||||||||||||
| Dividends paid | — | — | −$144,000 | −$85,000 | −$85,000 | — | — | — | — | — | — | — |
| Share repurchases & issuance (net) | — | — | — | — | — | — | — | — | — | — | $0 | $0 |
| Shares issued | $0 | $4.0M | $4.0M | $1.1M | $5.4M | $0 | $0 | $0 | $3.0M | $0 | $0 | $0 |
| Other financing | $297,000 | $577,000 | $4.4M | $0 | $521,000 | $616,000 | $0 | $0 | $0 | $0 | −$400,000 | $400,000 |
| Cash from financing activities | $297,000 | $4.6M | $8.3M | $977,000 | $5.9M | $616,000 | $0 | $0 | $3.0M | $0 | −$400,000 | $400,000 |
| Summary | ||||||||||||
| Net change in cash | −$4.0M | $2.1M | $4.3M | −$2.7M | $2.9M | −$1.6M | −$2.5M | −$2.7M | $7.3M | $871,000 | −$1.6M | −$119,000 |
| Cash at end of period | $5.1M | $9.0M | $6.9M | $2.6M | $5.3M | $2.5M | $4.0M | $6.5M | $9.2M | $1.9M | $1.1M | $2.6M |
| Free cash flow | −$4.3M | −$2.5M | −$4.0M | −$3.7M | −$3.0M | −$2.2M | −$2.5M | −$2.7M | −$3.5M | −$4.2M | −$2.0M | −$2.0M |
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.
GTBP cash generation
In fiscal 2025 (ended December 31, 2025), GT Biopharma generated -$12.9 million of cash from operations and spent $0 on capital expenditures, leaving free cash flow of -$12.9 million. It returned $0.2 million to shareholders through dividends ($0.2 million) and net share buybacks ($0). Cash and equivalents rose by $2.9 million over the year.
Related: GTBP income statement, GTBP balance sheet. See the GTBP stock overview for the latest quote and news.
GTBP cash flow FAQ
What is GT Biopharma's free cash flow?
GT Biopharma's free cash flow was -$12.9 million in fiscal 2025: -$12.9 million of operating cash flow minus $0 of capital expenditures It was -$12.9 million a year earlier..
How much cash does GT Biopharma generate from operations?
GT Biopharma generated -$12.9 million of cash from operating activities in fiscal 2025.
How much does GT Biopharma pay in dividends?
GT Biopharma paid $0.2 million in dividends in fiscal 2025.