Profound Medical Corp. (PROF) Cash Flow Statement
Where PROF’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- −$38.9M
- Capital expenditures
- $179,084 1.1% of revenue
- Free cash flow
- −$39.1M −238.4% margin
- Returned to shareholders
- —
- Change in cash
- $4.7M cash at year-end $59.7M
Cash from operations
−$38.9M
Capital expenditures
−$179,084
Net borrowing (repayment)
−$290,000
Shares issued
+$42.4M
Other financing
−$287,858
Currency & other
+$1.9M
Change in cash
$4.7M
Drawn to scale: where the cash came from and how it was used. Hover for values.
PROF operating cash flow, capex and free cash flow
Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)
PROF cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −$14.5M2016 | −$38.9M2025 | — | |
| Capital expenditures | $808,8422016 | $179,0842025 | −15.4%/yr | |
| Free cash flow | −$11.6M2016 | −$39.1M2025 | — | |
| Free cash flow margin | −248.4%2017 | −238.4%2025 | +10.0 pts | |
| Stock-based compensation | $745,1512016 | $5.5M2025 | +24.8%/yr | |
| Share buybacks (net) | $02016 | $02019 | — | |
| Capex / revenue | 7.5%2017 | 1.1%2025 | −6.4 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
PROF cash flow by activity
OperatingInvestingFinancingChange in cash
PROF net income vs operating cash flow
Net incomeOperating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
PROF cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | −$42.6M | −$27.8M | −$28.3M | −$28.7M | −$30.7M | −$21.6M | −$15.6M | −$15.2M | −$15.0M | −$12.1M |
| Depreciation & amortization | $569,803 | $936,000 | $929,000 | $1.6M | $1.9M | $1.5M | $1.5M | $1.2M | $693,310 | $180,334 |
| Stock-based compensation | $5.5M | $2.6M | $3.4M | $4.2M | $7.2M | $3.0M | $1.3M | $797,485 | $1.1M | $745,151 |
| Change in working capital | −$1.7M | $591,000 | $540,000 | −$5.6M | −$877,000 | −$4.6M | −$3.2M | −$990,831 | −$501,607 | −$151,930 |
| Other non-cash items | −$622,650 | $255,000 | $828,000 | $2.7M | $132,000 | $1.1M | $481,408 | $776,237 | −$1.1M | −$3.1M |
| Cash from operating activities | −$38.9M | −$23.5M | −$22.6M | −$25.8M | −$22.4M | −$20.6M | −$15.4M | −$13.4M | −$14.9M | −$14.5M |
| Investing activities | ||||||||||
| Capital expenditures | −$179,084 | $0 | −$2 | $0 | −$593,000 | −$350,000 | −$2 | −$32,000 | −$369,502 | −$808,842 |
| Investments (net) | — | — | — | −$127,000 | −$593,000 | −$350,000 | −$250,000 | $0 | −$997,428 | $8.9M |
| Acquisitions & other investing | −$67,152 | — | — | — | $593,000 | $350,000 | $57,213 | −$157,000 | $369,502 | $808,842 |
| Cash from investing activities | −$246,236 | — | — | — | −$593,000 | −$350,000 | −$192,789 | −$189,000 | −$997,428 | $8.9M |
| Financing activities | ||||||||||
| Dividends paid | — | — | — | — | — | — | — | — | — | $0 |
| Share repurchases & issuance (net) | — | — | — | — | — | — | $11.5M | $34.6M | $10.1M | $17.4M |
| Net borrowing (repayment) | −$290,000 | −$2.6M | −$912,000 | $6.9M | −$386,000 | −$9.6M | −$1.2M | $12.3M | −$2.9M | −$286,700 |
| Shares issued | $42.4M | $62.1M | $0 | $0 | $0 | $85.5M | $8.8M | $25.3M | $0 | $0 |
| Other financing | −$287,858 | −$4.8M | $2.7M | $114,000 | $6.3M | $11.5M | −$12.3M | −$44.5M | −$1.1M | −$1.2M |
| Cash from financing activities | $41.9M | $54.7M | $1.8M | $7.0M | $5.9M | $87.4M | $6.8M | $27.8M | $6.1M | $15.9M |
| Summary | ||||||||||
| Net change in cash | $4.7M | $28.7M | −$20.3M | −$20.6M | −$16.8M | $69.1M | −$7.6M | $14.4M | −$9.7M | $10.3M |
| Cash at end of period | $59.7M | $54.9M | $26.2M | $46.5M | $67.2M | $83.9M | $14.8M | $22.5M | $11.1M | $15.5M |
| Free cash flow | −$39.1M | −$23.5M | −$22.6M | −$25.8M | −$23.0M | −$20.9M | −$15.4M | −$13.4M | −$12.2M | −$11.6M |
| Free cash flow margin | −238.4% | −230.7% | −314.1% | −386.2% | −334.0% | −286.5% | −370.1% | −703.0% | −248.4% | — |
| Capex / revenue | 1.1% | 0.0% | 0.0% | 0.0% | 8.6% | 4.8% | 0.0% | 1.7% | 7.5% | — |
| 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 | −$9.5M | −$7.1M | −$8.2M | −$8.0M | −$15.7M | −$10.7M | −$5.3M | −$9.4M | −$6.9M | −$6.6M | −$8.9M | −$5.6M |
| Depreciation & amortization | $135,000 | $100,000 | $109,000 | $147,000 | $141,000 | $163,000 | $76,000 | $214,000 | $287,000 | $250,000 | $299,000 | $287,000 |
| Stock-based compensation | $874,000 | $1.0M | $1.4M | $1.7M | $1.5M | $989,000 | $442,000 | $604,000 | $768,000 | $767,000 | $907,000 | $727,000 |
| Change in working capital | −$2.8M | −$2.7M | $123,000 | −$3.5M | $366,000 | $1.2M | −$766,000 | $1.7M | −$674,000 | $949,000 | $209,000 | $33,000 |
| Other non-cash items | −$20,580 | $55,000 | −$96,198 | −$2,000 | −$7,000 | $39,000 | −$60,000 | $60,000 | $188,000 | $90,000 | $477,000 | $179,000 |
| Cash from operating activities | −$11.3M | −$8.6M | −$6.7M | −$9.6M | −$13.7M | −$8.3M | −$5.6M | −$6.8M | −$6.3M | −$4.5M | −$7.0M | −$4.3M |
| Investing activities | ||||||||||||
| Capital expenditures | $0 | −$1 | −$179,082 | −$1 | −$2 | $0 | −$0 | −$1 | −$1 | −$2 | −$1 | $0 |
| Acquisitions & other investing | — | — | −$67,154 | — | — | — | — | — | — | — | — | — |
| Cash from investing activities | — | — | −$246,236 | — | — | — | — | — | — | — | — | — |
| Financing activities | ||||||||||||
| Net borrowing (repayment) | $0 | $0 | $0 | $0 | $0 | −$290,000 | −$523,000 | −$592,000 | — | — | — | — |
| Shares issued | $0 | $0 | $42.4M | $0 | $0 | $0 | $39.2M | $0 | $0 | $22.9M | $0 | $0 |
| Other financing | $0 | $75,000 | −$1.0M | $2,267 | −$603,000 | $0 | −$3.0M | $0 | −$675,000 | −$2.5M | −$491,000 | −$189,000 |
| Cash from financing activities | $0 | $75,000 | $41.4M | $2,267 | −$603,000 | −$290,000 | $35.7M | −$592,000 | −$675,000 | $20.5M | −$491,000 | −$189,000 |
| Summary | ||||||||||||
| Net change in cash | −$12.0M | −$9.4M | $34.8M | −$10.4M | −$11.2M | −$8.5M | $27.8M | −$7.0M | −$7.1M | $15.0M | −$7.4M | −$5.7M |
| Cash at end of period | $38.3M | $50.3M | $59.6M | $24.8M | $35.2M | $46.4M | $54.9M | $27.1M | $34.1M | $41.2M | $26.2M | $33.6M |
| Free cash flow | −$11.3M | −$8.6M | −$6.8M | −$9.6M | −$13.7M | −$8.3M | −$5.6M | −$6.8M | −$6.3M | −$4.5M | −$7.0M | −$4.3M |
| Free cash flow margin | −456.6% | −163.1% | −114.4% | −181.8% | −621.6% | −316.0% | −139.0% | −241.0% | −284.4% | −314.7% | −263.6% | −251.0% |
| Capex / revenue | 0.0% | 0.0% | 3.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 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.
PROF cash generation
In fiscal 2025 (ended December 31, 2025), Profound Medical generated -$38.9 million of cash from operations and spent $0.2 million on capital expenditures, leaving free cash flow of -$39.1 million, −238.4% of revenue. Cash and equivalents rose by $4.7 million over the year.
Related: PROF income statement, PROF balance sheet. See the PROF stock overview for the latest quote and news.
PROF cash flow FAQ
What is Profound Medical's free cash flow?
Profound Medical's free cash flow was -$39.1 million in fiscal 2025: -$38.9 million of operating cash flow minus $0.2 million of capital expenditures It was -$23.5 million a year earlier..
How much cash does Profound Medical generate from operations?
Profound Medical generated -$38.9 million of cash from operating activities in fiscal 2025.
How much does Profound Medical spend on capital expenditures?
Profound Medical spent $0.2 million on capital expenditures in fiscal 2025, 1.1% of revenue.