Incannex Healthcare Limited (IXHL) Cash Flow Statement
Where IXHL’s cash came from and went, FY2026
June 30, 2026 · U.S. dollars- Cash from operations
- −$12.9M
- Capital expenditures
- $10,000
- Free cash flow
- −$12.9M
- Returned to shareholders
- —
- Change in cash
- $52.7M cash at year-end $67.7M
Drawn to scale: where the cash came from and how it was used. Hover for values.
IXHL operating cash flow, capex and free cash flow
IXHL cash flow trends, FY2025–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −$12.5MFY2025 | −$12.9MFY2026 | — | |
| Capital expenditures | $8,000FY2025 | $10,000FY2026 | +25.0%/yr | |
| Free cash flow | −$12.5MFY2025 | −$12.9MFY2026 | — | |
| Stock-based compensation | $2.6MFY2025 | $7.6MFY2026 | +189.7%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
IXHL cash flow by activity
IXHL 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).
IXHL cash flow statement
| FY2026 | FY2025 | |
|---|---|---|
| Operating activities | ||
| Net income | −$19.3M | −$46.9M |
| Depreciation & amortization | $240,000 | $246,000 |
| Stock-based compensation | $7.6M | $2.6M |
| Change in working capital | — | $6.8M |
| Other non-cash items | −$1.4M | $24.7M |
| Cash from operating activities | −$12.9M | −$12.5M |
| Investing activities | ||
| Capital expenditures | −$10,000 | −$8,000 |
| Acquisitions & other investing | −$84,000 | $0 |
| Cash from investing activities | −$94,000 | −$8,000 |
| Financing activities | ||
| Shares issued | $0 | $0 |
| Other financing | $65.9M | $21.4M |
| Cash from financing activities | $65.9M | $21.4M |
| Summary | ||
| Net change in cash | $52.7M | $9.2M |
| Cash at end of period | $67.7M | $15.0M |
| Free cash flow | −$12.9M | −$12.5M |
| Free cash flow margin | — | −14,559.3% |
| Capex / revenue | — | 9.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | |
|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||
| Net income | −$6.3M | −$5.4M | −$6.5M | −$9.8M | −$35.6M | −$6.2M | −$4.0M | −$8.4M |
| Depreciation & amortization | $114,427 | $65,000 | $65,000 | $66,000 | $50,946 | −$5,000 | $1.3M | $64,000 |
| Stock-based compensation | $2.6M | $1.5M | $3.2M | $2.6M | $1.7M | $417,000 | $417,000 | $459,000 |
| Change in working capital | $605,968 | $298,000 | −$4.0M | −$5.5M | $4.0M | $1.0M | $1.0M | $2.6M |
| Other non-cash items | $3.9M | $1.1M | −$1.9M | $3.4M | $25.2M | $1.6M | −$1.9M | $3.0M |
| Cash from operating activities | $913,431 | −$2.5M | −$9.2M | −$9.2M | −$4.6M | −$3.2M | −$3.2M | −$2.2M |
| Investing activities | ||||||||
| Capital expenditures | −$3,980 | −$5,000 | −$62,000 | −$2,000 | −$56,000 | $0 | −$8,000 | $0 |
| Investments (net) | — | — | — | −$42,000 | — | $0 | −$8,000 | $0 |
| Acquisitions & other investing | −$43,781 | — | $20,000 | — | $118,000 | — | $8,000 | — |
| Cash from investing activities | −$47,761 | — | −$42,000 | — | $62,000 | — | −$8,000 | — |
| Financing activities | ||||||||
| Share repurchases & issuance (net) | −$8.2M | −$1.1M | — | — | — | $0 | — | — |
| Net borrowing (repayment) | — | $0 | — | — | — | −$3.8M | $4.2M | −$52,000 |
| Shares issued | $0 | $7.0M | $2.2M | $69.5M | $0 | $12.4M | $0 | $0 |
| Other financing | $6.0M | −$1.1M | $65.0M | −$2.3M | $17.3M | −$869,000 | $3.5M | $0 |
| Cash from financing activities | −$2.2M | $4.7M | $67.2M | $67.2M | $17.3M | $7.7M | $7.7M | −$52,000 |
| Summary | ||||||||
| Net change in cash | −$71.4M | $2.2M | $58.2M | $58.0M | $12.9M | $4.6M | $4.6M | −$2.2M |
| Cash at end of period | — | $74.5M | $73.3M | $73.3M | $15.0M | $6.7M | $6.7M | $3.6M |
| Free cash flow | $909,451 | −$2.5M | −$9.2M | −$9.2M | −$1.0M | −$3.2M | −$3.2M | −$2.2M |
| Free cash flow margin | — | — | — | — | −1,550.7% | — | −16,296.9% | −2,012.2% |
| Capex / revenue | — | — | — | — | 84.1% | — | 41.3% | 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.
IXHL cash generation
In fiscal 2026 (ended June 30, 2026), Incannex Healthcare generated -$12.9 million of cash from operations and spent $0.0 million on capital expenditures, leaving free cash flow of -$12.9 million. Cash and equivalents rose by $52.7 million over the year.
Related: IXHL income statement, IXHL balance sheet. See the IXHL stock overview for the latest quote and news.
IXHL cash flow FAQ
What is Incannex Healthcare's free cash flow?
Incannex Healthcare's free cash flow was -$12.9 million in fiscal 2026: -$12.9 million of operating cash flow minus $0.0 million of capital expenditures It was -$12.5 million a year earlier..
How much cash does Incannex Healthcare generate from operations?
Incannex Healthcare generated -$12.9 million of cash from operating activities in fiscal 2026.
How much does Incannex Healthcare spend on capital expenditures?
Incannex Healthcare spent $0.0 million on capital expenditures in fiscal 2026, compared with $0.0 million the year before.