Quantum X Labs Inc. (QXL) Cash Flow Statement
Where QXL’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- −$3.5M −347.4% vs 2024
- Capital expenditures
- $0 0.0% of revenue
- Free cash flow
- −$3.5M −220.7% margin
- Returned to shareholders
- —
- Change in cash
- $984,000 cash at year-end $1.0M
Drawn to scale: where the cash came from and how it was used. Hover for values.
QXL operating cash flow, capex and free cash flow
QXL cash flow trends, 2022–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $3.2M2022 | −$3.5M2025 | — | |
| Capital expenditures | $74,0002022 | $02025 | −100.0% | |
| Free cash flow | $3.2M2022 | −$3.5M2025 | — | |
| Free cash flow margin | 3.3%2022 | −220.7%2025 | −224.0 pts | |
| Operating cash flow / net income | 115.612022 | −0.262025 | −115.87 | |
| Stock-based compensation | $71,0002022 | $75,0002025 | +1.8%/yr | |
| Dividends paid | $73,0002022 | $02024 | −100.0% | |
| Capex / revenue | 0.1%2022 | 0.0%2025 | −0.1 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
QXL cash flow by activity
QXL 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).
QXL cash flow statement
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Operating activities | ||||
| Net income | $13.4M | −$12.1M | −$7.3M | $28,000 |
| Depreciation & amortization | $848,000 | $813,000 | $3.0M | $2.8M |
| Stock-based compensation | $75,000 | $95,000 | $135,000 | $71,000 |
| Change in working capital | −$760,000 | $2.0M | $1.6M | −$1.1M |
| Other non-cash items | −$17.0M | $10.5M | $3.5M | $1.4M |
| Cash from operating activities | −$3.5M | $1.4M | $934,000 | $3.2M |
| Investing activities | ||||
| Capital expenditures | $0 | −$1,000 | −$16,000 | −$74,000 |
| Acquisitions & other investing | −$151,000 | — | — | — |
| Cash from investing activities | −$151,000 | — | — | — |
| Financing activities | ||||
| Dividends paid | — | $0 | −$130,000 | −$73,000 |
| Net borrowing (repayment) | −$2.4M | −$2.2M | −$23,000 | −$2.5M |
| Shares issued | $4.0M | $198,000 | $0 | $0 |
| Other financing | $2.4M | −$69,000 | −$3.2M | −$1.7M |
| Cash from financing activities | $4.0M | −$2.1M | −$3.4M | −$4.2M |
| Summary | ||||
| Net change in cash | $984,000 | −$1.2M | −$2.5M | −$1.1M |
| Cash at end of period | $1.0M | $682,000 | $1.9M | $4.4M |
| Free cash flow | −$3.5M | $1.4M | $918,000 | $3.2M |
| Free cash flow margin | −220.7% | 28.2% | 1.2% | 3.3% |
| Capex / revenue | 0.0% | 0.0% | 0.0% | 0.1% |
| Operating cash flow / net income | −0.26 | — | — | 115.61 |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | |
|---|---|---|---|---|---|---|---|
| Operating activities | |||||||
| Net income | $2.5M | −$605,000 | $33.6M | −$4.0M | −$12.4M | −$3.7M | −$3.3M |
| Depreciation & amortization | $230,000 | $224,000 | −$1.4M | $791,000 | $781,000 | $173,000 | $730,000 |
| Stock-based compensation | $0 | $0 | −$3,000 | $0 | $75,000 | $0 | $4,000 |
| Change in working capital | $72,000 | −$224,000 | −$342,000 | −$1.1M | $631,000 | $234,000 | $228,000 |
| Other non-cash items | −$3.8M | $1,000 | −$32.0M | $2.5M | $10.5M | $2.9M | $1.9M |
| Cash from operating activities | −$1.1M | −$604,000 | −$218,000 | −$1.7M | −$427,000 | −$409,000 | −$447,000 |
| Investing activities | |||||||
| Capital expenditures | −$186,000 | $0 | $0 | $0 | $0 | $0 | $0 |
| Acquisitions & other investing | $0 | $193,000 | −$163,000 | — | — | — | — |
| Cash from investing activities | −$186,000 | $193,000 | −$163,000 | — | — | — | — |
| Financing activities | |||||||
| Dividends paid | — | — | — | — | — | — | $0 |
| Net borrowing (repayment) | −$400,000 | −$189,000 | −$428,000 | −$2.5M | $538,000 | −$188,000 | −$369,000 |
| Shares issued | $0 | $1.4M | $0 | $4.0M | $0 | $0 | $0 |
| Other financing | $2.4M | $0 | $0 | $402,000 | $1.8M | $0 | $52,000 |
| Cash from financing activities | $2.0M | $1.2M | −$428,000 | $1.9M | $2.3M | −$188,000 | −$317,000 |
| Summary | |||||||
| Net change in cash | $645,000 | $800,000 | −$1.3M | $210,000 | $1.9M | $15,000 | −$765,000 |
| Cash at end of period | $2.5M | $1.8M | $1.0M | $2.4M | $2.2M | $69,000 | $682,000 |
| Free cash flow | −$492,000 | −$604,000 | −$218,000 | −$1.7M | −$427,000 | −$409,000 | −$448,000 |
| Free cash flow margin | −167.9% | −171.1% | — | −63.1% | −18.7% | −77.3% | −13.5% |
| Capex / revenue | 63.5% | 0.0% | — | 0.0% | 0.0% | 0.0% | 0.0% |
| Operating cash flow / net income | −0.43 | — | −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.
QXL cash generation
In fiscal 2025 (ended December 31, 2025), Quantum X Labs generated -$3.5 million of cash from operations (down 347.4%) and spent $0 on capital expenditures, leaving free cash flow of -$3.5 million, −220.7% of revenue. Cash and equivalents rose by $1.0 million over the year.
Related: QXL income statement, QXL balance sheet. See the QXL stock overview for the latest quote and news.
QXL cash flow FAQ
What is Quantum X Labs's free cash flow?
Quantum X Labs's free cash flow was -$3.5 million in fiscal 2025: -$3.5 million of operating cash flow minus $0 of capital expenditures It was $1.4 million a year earlier..
How much cash does Quantum X Labs generate from operations?
Quantum X Labs generated -$3.5 million of cash from operating activities in fiscal 2025, −0.26 times its net income of $13.4 million.