TRxADE HEALTH, Inc. (MEDS) Cash Flow Statement
Where MEDS’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- −$10.9M
- Capital expenditures
- $881,526 3.8% of revenue
- Free cash flow
- −$10.9M −46.5% margin
- Returned to shareholders
- —
- Change in cash
- −$985,765 cash at year-end $42,571
Drawn to scale: where the cash came from and how it was used. Hover for values.
MEDS operating cash flow, capex and free cash flow
MEDS cash flow trends, 2022–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $02022 | −$10.9M2025 | — | |
| Capital expenditures | $02022 | $881,5262025 | — | |
| Free cash flow | $02022 | −$10.9M2025 | — | |
| Free cash flow margin | 0.0%2022 | −46.5%2025 | −46.5 pts | |
| Stock-based compensation | $02023 | $54.8M2025 | — | |
| Capex / revenue | 0.0%2022 | 3.8%2025 | +3.8 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
MEDS cash flow by activity
MEDS 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).
MEDS cash flow statement
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Operating activities | ||||
| Net income | −$101.3M | −$6.9M | −$2.9M | −$5,250 |
| Depreciation & amortization | $3.2M | $1.1M | $0 | $2.1M |
| Stock-based compensation | $54.8M | $1.1M | $0 | — |
| Change in working capital | $8.5M | $3.3M | $2.5M | $5,250 |
| Other non-cash items | $23.9M | $93,378 | $0 | −$2.1M |
| Cash from operating activities | −$10.9M | −$1.2M | −$349,136 | $0 |
| Investing activities | ||||
| Capital expenditures | −$881,526 | −$377,288 | $0 | $0 |
| Acquisitions & other investing | $0 | $846,360 | — | — |
| Cash from investing activities | −$881,526 | $469,072 | — | — |
| Financing activities | ||||
| Net borrowing (repayment) | −$2.1M | $620,703 | $350,000 | $0 |
| Shares issued | $11.4M | $10,000 | $500 | $0 |
| Other financing | $1.5M | $1.2M | $0 | $0 |
| Cash from financing activities | $10.8M | $1.8M | $350,500 | $0 |
| Summary | ||||
| Net change in cash | −$985,765 | $1.0M | $1,364 | $0 |
| Cash at end of period | $42,571 | $1.0M | $1,364 | $0 |
| Free cash flow | −$10.9M | −$1.6M | −$349,136 | $0 |
| Free cash flow margin | −46.5% | −8.8% | — | 0.0% |
| Capex / revenue | 3.8% | 2.1% | — | 0.0% |
| 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 | −$18.4M | −$7.7M | −$27.9M | −$34.3M | −$6.7M | −$32.4M | −$4.3M | −$1.9M | −$574,325 | −$6.6M | −$1.1M | −$903,312 |
| Depreciation & amortization | $356,637 | $356,824 | $802,601 | $802,796 | $802,796 | $802,871 | $647,241 | $454,629 | $12,794 | $8,303 | — | — |
| Stock-based compensation | $1.2M | $1.4M | $355,698 | $25.7M | $935,222 | $27.8M | — | — | — | $24,266 | — | — |
| Change in working capital | $2.9M | $1.3M | −$1.5M | $4.8M | $2.7M | $2.4M | −$122,939 | $2.4M | $639,305 | −$7.5M | $614,096 | $1.0M |
| Other non-cash items | $11.0M | $1.3M | $21.9M | $1.8M | $135,604 | $98,261 | $1.1M | $26,666 | $0 | $3.9M | $0 | $0 |
| Cash from operating activities | −$2.9M | −$3.4M | −$6.3M | −$1.1M | −$2.1M | −$1.3M | −$2.7M | $1.0M | $77,774 | −$10.2M | −$462,056 | $112,940 |
| Investing activities | ||||||||||||
| Capital expenditures | −$205,098 | −$205,098 | −$255,382 | −$405,059 | −$131,926 | −$273,133 | −$112,438 | −$217,050 | −$4 | −$3 | $0 | $0 |
| Acquisitions & other investing | −$37,034 | $0 | $0 | $183,974 | $0 | $0 | $950,847 | −$98,887 | −$53,396 | $27.4M | — | — |
| Cash from investing activities | −$242,132 | −$205,098 | −$255,382 | −$221,085 | −$131,926 | −$273,133 | $838,409 | −$315,937 | −$53,400 | $27.4M | — | — |
| Financing activities | ||||||||||||
| Dividends paid | — | — | — | — | — | — | — | — | — | −$12.7M | — | — |
| Net borrowing (repayment) | $4.5M | $5.8M | −$564,999 | −$1.1M | −$606,138 | $235,869 | — | — | — | — | — | — |
| Shares issued | $0 | $0 | $0 | $6.8M | $567,722 | $4.0M | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | $1.0M | −$2.2M | $2.9M | −$496,800 | $152,697 | −$1.1M | $2.1M | $4,519 | −$250,000 | −$1.2M | $350,000 | — |
| Cash from financing activities | $5.5M | $3.6M | $2.4M | $5.2M | $114,281 | $3.1M | $2.1M | $4,519 | −$250,000 | −$13.9M | $350,000 | — |
| Summary | ||||||||||||
| Net change in cash | $2.4M | $9,159 | −$4.2M | $3.8M | −$2.1M | $1.5M | $235,188 | $726,173 | −$225,626 | $3.3M | −$112,056 | $112,940 |
| Cash at end of period | $2.5M | $51,730 | $42,571 | $4.2M | $419,942 | $2.5M | $1.0M | $793,148 | $66,975 | $3.5M | $1,364 | $113,420 |
| Free cash flow | −$2.7M | −$3.6M | −$6.5M | −$730,270 | −$2.2M | −$1.6M | −$2.8M | $820,541 | $77,770 | −$10.2M | −$462,056 | $112,940 |
| Free cash flow margin | −151.1% | −232.0% | −392.0% | −24.2% | −28.4% | −14.9% | −22.3% | 14.5% | 0.7% | −128.4% | −1.3% | — |
| Capex / revenue | 11.5% | 13.2% | 15.3% | 13.4% | 1.7% | 2.5% | 0.9% | 3.8% | 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.
MEDS cash generation
In fiscal 2025 (ended December 31, 2025), TRxADE HEALTH generated -$10.9 million of cash from operations and spent $0.9 million on capital expenditures, leaving free cash flow of -$10.9 million, −46.5% of revenue. Cash and equivalents fell by $1.0 million over the year.
Related: MEDS income statement, MEDS balance sheet. See the MEDS stock overview for the latest quote and news.
MEDS cash flow FAQ
What is TRxADE HEALTH's free cash flow?
TRxADE HEALTH's free cash flow was -$10.9 million in fiscal 2025: -$10.9 million of operating cash flow minus $0.9 million of capital expenditures It was -$1.6 million a year earlier..
How much cash does TRxADE HEALTH generate from operations?
TRxADE HEALTH generated -$10.9 million of cash from operating activities in fiscal 2025.
How much does TRxADE HEALTH spend on capital expenditures?
TRxADE HEALTH spent $0.9 million on capital expenditures in fiscal 2025, 3.8% of revenue, compared with $0.4 million the year before.