MDB Capital Holdings, LLC Class A common (MDBH) Cash Flow Statement
Where MDBH’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- −$5.7M
- Capital expenditures
- $49,000 1.1% of revenue
- Free cash flow
- −$5.7M −133.9% margin
- Returned to shareholders
- —
- Change in cash
- −$5.7M cash at year-end $15.5M
Drawn to scale: where the cash came from and how it was used. Hover for values.
MDBH operating cash flow, capex and free cash flow
MDBH cash flow trends, 2020–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $9.5M2020 | −$5.7M2025 | — | |
| Capital expenditures | $62,1252020 | $49,0002025 | −4.6%/yr | |
| Free cash flow | $9.4M2020 | −$5.7M2025 | — | |
| Free cash flow margin | 78.0%2020 | −133.9%2025 | −211.8 pts | |
| Stock-based compensation | $02020 | $11.8M2025 | — | |
| Dividends paid | $02021 | $02023 | — | |
| Capex / revenue | 0.5%2020 | 1.1%2025 | +0.6 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
MDBH cash flow by activity
MDBH 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).
MDBH cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Operating activities | ||||||
| Net income | −$21.3M | $11.6M | −$7.7M | −$5.9M | −$15.7M | −$1.3M |
| Depreciation & amortization | $22,000 | $229,920 | $196,938 | $147,750 | $48,207 | $46,510 |
| Stock-based compensation | $11.8M | $14.4M | $4.4M | $218,355 | $200,671 | $0 |
| Change in working capital | $1.2M | −$2.6M | $1.6M | −$7,131 | −$413,086 | $436,712 |
| Other non-cash items | $2.6M | −$32.7M | −$5.6M | −$1.1M | $10.0M | $10.3M |
| Cash from operating activities | −$5.7M | −$9.0M | −$7.2M | −$6.6M | −$5.8M | $9.5M |
| Investing activities | ||||||
| Capital expenditures | −$49,000 | −$546,079 | −$438,785 | −$193,252 | −$423,386 | −$62,125 |
| Investments (net) | $0 | $22.9M | −$8.2M | −$16.4M | −$423,386 | −$62,125 |
| Acquisitions & other investing | $0 | $546,079 | $438,785 | $193,252 | $423,386 | $62,125 |
| Cash from investing activities | −$49,000 | $22.9M | −$8.2M | −$16.4M | −$423,386 | −$62,125 |
| Financing activities | ||||||
| Dividends paid | — | — | $0 | −$2.7M | $0 | — |
| Net borrowing (repayment) | — | — | — | — | $0 | $250,961 |
| Shares issued | $0 | $0 | $20.0M | $25.3M | $0 | $0 |
| Other financing | $0 | $69,303 | −$2.2M | −$884,802 | $0 | $0 |
| Cash from financing activities | $0 | $69,303 | $17.8M | $21.7M | $0 | $250,961 |
| Summary | ||||||
| Net change in cash | −$5.7M | $13.9M | $2.4M | −$1.3M | −$6.3M | $9.7M |
| Cash at end of period | $15.5M | $21.3M | $7.4M | $5.0M | $6.2M | $12.5M |
| Free cash flow | −$5.7M | −$8.5M | −$7.6M | −$6.8M | −$6.3M | $9.4M |
| Free cash flow margin | −133.9% | −382.4% | −179.5% | −606.7% | −196.3% | 78.0% |
| Capex / revenue | 1.1% | 24.6% | 10.4% | 17.3% | 13.3% | 0.5% |
| Operating cash flow / net income | — | −0.78 | — | — | — | — |
| 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 | −$9.3M | −$6.7M | −$1.8M | −$4.7M | −$8.2M | −$6.6M | $32.5M | −$9.0M | −$4.3M | −$7.2M | −$5.5M | −$3.2M |
| Depreciation & amortization | $6,000 | $5,000 | $5,034 | $5,655 | $5,656 | $5,655 | $98,983 | $0 | $68,145 | $62,792 | $58,966 | $49,723 |
| Stock-based compensation | $2.6M | $2.4M | $8.7M | $2.5M | $3.0M | $3.5M | $2.7M | $4.1M | $3.8M | $3.8M | $4.0M | $349,390 |
| Change in working capital | −$640,000 | −$1.9M | $591,797 | $398,532 | −$276,127 | $500,839 | −$3.4M | $820,602 | −$1.9M | $1.1M | $1.1M | $634,565 |
| Other non-cash items | $4.8M | $3.3M | −$8.9M | −$169,498 | $3.3M | $2.3M | −$32.3M | $1.6M | −$1.6M | −$3,275 | −$1.7M | $712,671 |
| Cash from operating activities | −$2.6M | −$2.9M | −$1.4M | −$1.9M | −$2.1M | −$267,429 | −$417,026 | −$2.5M | −$3.9M | −$2.3M | −$2.1M | −$1.4M |
| Investing activities | ||||||||||||
| Capital expenditures | −$18,000 | −$69,000 | −$23,324 | −$25,675 | −$2 | −$1 | −$646,284 | −$74,534 | −$31,587 | −$143,153 | −$83,145 | −$311,943 |
| Investments (net) | — | — | $0 | −$25,677 | $0 | $0 | $2.8M | $150,194 | $16.4M | $3.4M | −$17.0M | $7.2M |
| Acquisitions & other investing | $0 | $0 | $990,427 | $25,675 | — | −$990,425 | $646,284 | $434,139 | −$328,018 | $143,153 | $83,145 | $363,783 |
| Cash from investing activities | −$18,000 | −$69,000 | $967,103 | −$25,677 | — | −$990,426 | $2.8M | $509,799 | $16.1M | $3.4M | −$17.0M | $7.3M |
| Financing activities | ||||||||||||
| Dividends paid | — | — | — | — | — | — | — | — | — | — | $0 | — |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $20.0M |
| Other financing | — | — | $0 | $0 | $0 | $0 | $587,368 | −$235,890 | −$190,668 | −$91,507 | −$69,303 | −$1.8M |
| Cash from financing activities | — | — | $0 | $0 | $0 | $0 | $587,368 | −$235,890 | −$190,668 | −$91,507 | −$69,303 | $18.2M |
| Summary | ||||||||||||
| Net change in cash | −$2.6M | −$3.0M | −$383,918 | −$1.9M | −$2.1M | −$1.3M | $3.0M | −$2.2M | $12.0M | $1.1M | −$19.1M | $24.1M |
| Cash at end of period | $9.9M | $12.5M | $15.5M | $15.9M | $17.9M | $20.0M | $21.3M | $18.3M | $20.5M | $8.5M | $7.4M | $26.4M |
| Free cash flow | −$2.6M | −$3.0M | −$1.4M | −$1.9M | −$2.1M | −$267,430 | $229,258 | −$2.4M | −$3.9M | −$2.4M | −$2.1M | −$1.8M |
| Free cash flow margin | −203.8% | −97.5% | −64.2% | −155.3% | −584.5% | −12.5% | 25.0% | −53.5% | −297.8% | −2,765.1% | — | −15,231.3% |
| Capex / revenue | 1.4% | 2.2% | 1.1% | 2.1% | 0.0% | 0.0% | 70.5% | 1.6% | 2.4% | 164.8% | — | 2,712.1% |
| Operating cash flow / net income | — | — | — | — | — | — | −0.01 | — | — | — | — | — |
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.
MDBH cash generation
In fiscal 2025 (ended December 31, 2025), MDB Capital Holdings, LLC Class A common generated -$5.7 million of cash from operations and spent $0.0 million on capital expenditures, leaving free cash flow of -$5.7 million, −133.9% of revenue. Cash and equivalents fell by $5.7 million over the year.
Related: MDBH income statement, MDBH balance sheet. See the MDBH stock overview for the latest quote and news.
MDBH cash flow FAQ
What is MDB Capital Holdings, LLC Class A common's free cash flow?
MDB Capital Holdings, LLC Class A common's free cash flow was -$5.7 million in fiscal 2025: -$5.7 million of operating cash flow minus $0.0 million of capital expenditures It was -$8.5 million a year earlier..
How much cash does MDB Capital Holdings, LLC Class A common generate from operations?
MDB Capital Holdings, LLC Class A common generated -$5.7 million of cash from operating activities in fiscal 2025.
How much does MDB Capital Holdings, LLC Class A common spend on capital expenditures?
MDB Capital Holdings, LLC Class A common spent $0.0 million on capital expenditures in fiscal 2025, 1.1% of revenue, compared with $0.5 million the year before.