Satellos Bioscience Inc. (MSLE) Cash Flow Statement
Where MSLE’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- −$23.6M
- Capital expenditures
- $6,000
- Free cash flow
- −$23.6M
- Returned to shareholders
- —
- Change in cash
- −$30.3M cash at year-end $9.8M
Drawn to scale: where the cash came from and how it was used. Hover for values.
MSLE operating cash flow, capex and free cash flow
MSLE cash flow trends, 2014–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −$2.7M2014 | −$23.6M2025 | — | |
| Capital expenditures | $02014 | $6,0002025 | — | |
| Free cash flow | −$2.7M2014 | −$23.6M2025 | — | |
| Stock-based compensation | $1.1M2022 | $3.2M2025 | +74.6%/yr | |
| Dividends paid | $02022 | $02023 | — |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
MSLE cash flow by activity
MSLE 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).
MSLE cash flow statement
| 2025 | 2023 | 2022 | 2020 | 2019 | 2018 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|
| Operating activities | |||||||||
| Net income | −$24.9M | −$15.9M | −$8.3M | −$1.6M | −$2.0M | −$1.7M | −$1.5M | −$1.8M | −$1.9M |
| Depreciation & amortization | $4,000 | $5,276 | $319,710 | $423 | $3,146 | $1,533 | $27,619 | $21,955 | $47,457 |
| Stock-based compensation | $3.2M | $1.6M | $1.1M | — | — | — | — | — | — |
| Change in working capital | −$1.5M | $278,154 | $730,179 | −$183,336 | −$310,677 | $593,709 | $9,039 | −$1.2M | −$969,329 |
| Other non-cash items | −$484,000 | −$446,312 | $568,180 | $101,277 | −$2 | $988 | $121,711 | −$73,697 | $135,390 |
| Cash from operating activities | −$23.6M | −$14.4M | −$5.7M | −$1.7M | −$2.3M | −$1.1M | −$1.3M | −$3.1M | −$2.7M |
| Investing activities | |||||||||
| Capital expenditures | −$6,000 | −$18,000 | −$2,210 | $0 | −$6,158 | −$3,183 | −$4,066 | −$1,855 | $0 |
| Investments (net) | −$9.4M | −$13.2M | $0 | — | — | — | — | — | — |
| Acquisitions & other investing | $0 | −$4.3M | $0 | — | $4 | −$2 | $3 | $2.0M | −$849,682 |
| Cash from investing activities | −$9.4M | −$17.5M | −$2,210 | — | −$6,154 | −$3,185 | −$4,063 | $2.0M | −$849,682 |
| Financing activities | |||||||||
| Dividends paid | — | $0 | $0 | — | — | — | — | — | — |
| Net borrowing (repayment) | — | −$284,939 | $0 | — | — | — | — | — | — |
| Shares issued | $0 | $24.5M | $2.0M | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | $2.2M | $26.8M | $702,628 | $2.0M | $3.3M | — | — | — | $6.0M |
| Cash from financing activities | $2.2M | $51.0M | $2.7M | $2.0M | $3.3M | — | — | — | $6.0M |
| Summary | |||||||||
| Net change in cash | −$30.3M | $21.3M | −$1.2M | −$265,689 | $1.0M | −$1.2M | −$274,412 | −$1.7M | $2.4M |
| Cash at end of period | $9.8M | $22.1M | $1.9M | $709,078 | $1.0M | $10,107 | $2.4M | $2.7M | $3.5M |
| Free cash flow | −$23.6M | −$14.4M | −$4.3M | −$1.7M | −$2.3M | −$1.1M | −$1.3M | −$3.1M | −$2.7M |
| 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 | −$11.4M | −$9.6M | −$7.3M | −$5.8M | −$5.6M | −$6.1M | −$3.3M | −$9.0M | −$6.0M | −$6.9M | −$6.5M | −$3.6M |
| Depreciation & amortization | $1,000 | $1,000 | $1,015 | $3,000 | $0 | $1,000 | $8,014 | $2,714 | $2,997 | $2,701 | $2,000 | $1,994 |
| Stock-based compensation | $922,000 | $727,000 | $985,000 | $774,000 | $834,000 | $642,000 | $239,191 | $219,850 | — | — | — | — |
| Change in working capital | $2.7M | −$700,165 | −$735,000 | $803,000 | $319,000 | −$1.9M | −$686,805 | $436,986 | −$133,908 | −$313,419 | $1.1M | $414,120 |
| Other non-cash items | $13,654 | $152,630 | −$209,015 | $115,000 | −$388,000 | −$3,000 | −$4.1M | $3.9M | $507,657 | −$217,502 | $38,005 | −$756,100 |
| Cash from operating activities | −$7.8M | −$9.5M | −$7.3M | −$4.1M | −$4.8M | −$7.4M | −$7.8M | −$4.4M | −$5.7M | −$7.5M | −$5.4M | −$3.9M |
| Investing activities | ||||||||||||
| Capital expenditures | −$21 | −$3,946 | −$6 | −$3,000 | −$3,000 | $0 | −$260 | −$597 | −$3,997 | −$1,348 | −$1,000 | −$10,097 |
| Investments (net) | −$3.3M | −$33.3M | −$2.6M | −$15.3M | $8.5M | $0 | −$8.9M | $13.0M | — | — | — | — |
| Acquisitions & other investing | −$46,471 | $461,722 | $6 | $0 | $0 | — | −$2.7M | $4.6M | $2.4M | −$1.8M | −$17.5M | −$2 |
| Cash from investing activities | −$3.4M | −$32.9M | −$2.6M | −$15.3M | $8.5M | — | −$11.6M | $17.6M | $2.4M | −$1.8M | −$17.5M | −$10,099 |
| Financing activities | ||||||||||||
| Net borrowing (repayment) | — | — | — | — | — | — | $0 | $0 | — | — | — | — |
| Shares issued | $0 | $47.3M | $0 | $0 | $0 | $0 | $29.8M | $0 | $0 | $0 | $0 | $0 |
| Other financing | $263,880 | $3.9M | $147,000 | $700,000 | $1.4M | $2,000 | $7.3M | $230,707 | $15,988 | — | — | −$2.1M |
| Cash from financing activities | $263,880 | $51.2M | $147,000 | $700,000 | $1.4M | $2,000 | $37.1M | $230,707 | $15,988 | — | — | −$2.1M |
| Summary | ||||||||||||
| Net change in cash | −$11.4M | $9.0M | −$9.5M | −$18.9M | $5.5M | −$7.4M | $32.7M | $13.9M | −$3.4M | −$9.5M | $17.3M | −$44.9M |
| Cash at end of period | $7.4M | $18.8M | $9.8M | $19.3M | $38.2M | $32.7M | $57.6M | $23.6M | $9.8M | $13.1M | $22.1M | $4.9M |
| Free cash flow | −$7.8M | −$9.5M | −$7.3M | −$4.1M | −$4.8M | −$7.4M | −$4.7M | −$4.4M | −$5.7M | −$7.5M | −$5.4M | −$3.9M |
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.
MSLE cash generation
In fiscal 2025 (ended December 31, 2025), Satellos Bioscience generated -$23.6 million of cash from operations and spent $0.0 million on capital expenditures, leaving free cash flow of -$23.6 million. Cash and equivalents fell by $30.3 million over the year.
Related: MSLE income statement, MSLE balance sheet. See the MSLE stock overview for the latest quote and news.
MSLE cash flow FAQ
What is Satellos Bioscience's free cash flow?
Satellos Bioscience's free cash flow was -$23.6 million in fiscal 2025: -$23.6 million of operating cash flow minus $0.0 million of capital expenditures It was -$14.4 million a year earlier..
How much cash does Satellos Bioscience generate from operations?
Satellos Bioscience generated -$23.6 million of cash from operating activities in fiscal 2025.
How much does Satellos Bioscience spend on capital expenditures?
Satellos Bioscience spent $0.0 million on capital expenditures in fiscal 2025, compared with $0.0 million the year before.