Solaris Resources Inc. (SLSR) Cash Flow Statement
Where SLSR’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- $48.3M
- Capital expenditures
- $4.2M
- Free cash flow
- $44.1M
- Returned to shareholders
- —
- Change in cash
- −$6.5M cash at year-end $25.2M
Drawn to scale: where the cash came from and how it was used. Hover for values.
SLSR operating cash flow, capex and free cash flow
SLSR cash flow trends, 2020–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −$14.1M2020 | $48.3M2025 | — | |
| Capital expenditures | $684,0002020 | $4.2M2025 | +43.5%/yr | |
| Free cash flow | −$14.8M2020 | $44.1M2025 | — | |
| Stock-based compensation | $1.6M2020 | $3.9M2025 | +19.7%/yr | |
| Dividends paid | $02024 | $02025 | — | |
| Share buybacks (net) | $02022 | $617,0002023 | — |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
SLSR cash flow by activity
SLSR 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).
SLSR cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Operating activities | ||||||
| Net income | −$42.2M | −$77.0M | −$41.0M | −$58.7M | −$56.8M | −$25.9M |
| Depreciation & amortization | $1.1M | $1.0M | $928,000 | $783,000 | $408,000 | $68,000 |
| Stock-based compensation | $3.9M | $4.0M | $5.1M | $3.5M | $4.9M | $1.6M |
| Change in working capital | $81.1M | $7.4M | −$3.4M | −$2.1M | $6.9M | $2.7M |
| Other non-cash items | $4.3M | $6.2M | $25,000 | −$1.9M | −$2.0M | $7.5M |
| Cash from operating activities | $48.3M | −$58.4M | −$38.3M | −$58.4M | −$46.7M | −$14.1M |
| Investing activities | ||||||
| Capital expenditures | −$4.2M | −$2.7M | −$89,000 | −$1.1M | −$1.7M | −$684,000 |
| Investments (net) | — | −$2.7M | −$347,000 | −$1.4M | −$1.1M | −$684,000 |
| Financing activities | ||||||
| Dividends paid | $0 | $0 | — | — | — | — |
| Share repurchases & issuance (net) | — | — | −$617,000 | $0 | — | — |
| Net borrowing (repayment) | −$45.2M | $14.8M | $29.8M | −$155,000 | −$265,000 | — |
| Shares issued | $244,000 | $39.6M | $10.0M | $0 | $0 | $78.5M |
| Other financing | −$6.8M | −$1.9M | $23.0M | $41.4M | $7.5M | $2.6M |
| Cash from financing activities | −$51.9M | $52.5M | $62.3M | $41.3M | $7.2M | $81.2M |
| Summary | ||||||
| Net change in cash | −$6.5M | −$7.1M | $24.1M | −$19.1M | −$39.7M | $67.5M |
| Cash at end of period | $25.2M | $31.7M | $38.9M | $14.8M | $33.9M | $73.6M |
| Free cash flow | $44.1M | −$61.0M | −$38.4M | −$59.5M | −$48.3M | −$14.8M |
| 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 | −$3.5M | −$5.0M | −$9.3M | −$12.2M | −$5.3M | −$15.4M | −$25.9M | −$20.8M | −$17.6M | −$12.7M | −$10.0M | −$9.0M |
| Depreciation & amortization | $27,000 | $16,000 | $522,000 | $182,000 | $177,000 | $218,000 | $274,000 | $257,000 | $246,000 | $235,000 | $231,000 | $263,000 |
| Stock-based compensation | $1.5M | $1.6M | $922,000 | $901,000 | $1.0M | $1.1M | $1.2M | $1.3M | $665,000 | $829,000 | $953,000 | $1.3M |
| Change in working capital | $49.8M | −$2.4M | −$1.9M | −$1.0M | $87.8M | −$4.8M | $2.0M | $1.6M | $3.2M | $833,000 | $1.2M | −$223,000 |
| Other non-cash items | −$1.1M | $816,000 | $2.5M | $280,000 | $1.1M | $1.6M | $3.0M | $1.1M | $1.4M | $790,000 | $393,000 | −$217,000 |
| Cash from operating activities | $46.7M | −$4.8M | −$7.3M | −$11.9M | $84.7M | −$17.3M | −$19.5M | −$16.5M | −$12.2M | −$10.0M | −$7.3M | −$7.9M |
| Investing activities | ||||||||||||
| Capital expenditures | −$5.9M | −$7.9M | −$2.4M | −$462,000 | −$593,000 | −$764,000 | −$1.3M | −$792,000 | −$289,000 | −$242,000 | −$30,000 | −$22,000 |
| Investments (net) | — | — | — | $71,000 | $0 | −$764,000 | −$1.1M | $0 | −$170,000 | −$242,000 | −$30,000 | −$22,000 |
| Financing activities | ||||||||||||
| Dividends paid | $0 | — | $0 | $0 | $0 | — | — | $0 | $0 | — | — | — |
| Share repurchases & issuance (net) | — | — | — | $0 | $0 | — | — | −$200,000 | −$1.7M | — | — | $0 |
| Net borrowing (repayment) | −$52,000 | −$60,000 | −$64,000 | −$64,000 | −$45.1M | −$57,000 | −$67,000 | $14.9M | — | — | — | — |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $244,000 | $355,000 | $0 | $39.3M | $0 | $0 | $0 |
| Other financing | −$13,000 | $0 | −$52,000 | $0 | −$6.8M | $56,000 | $569,000 | $0 | −$41,000 | $227,000 | $39.5M | $107,000 |
| Cash from financing activities | −$65,000 | −$60,000 | −$116,000 | −$64,000 | −$51.9M | $243,000 | $857,000 | $14.7M | $37.5M | $227,000 | $39.5M | $107,000 |
| Summary | ||||||||||||
| Net change in cash | $41.1M | −$12.3M | −$9.9M | −$11.9M | $32.8M | −$17.5M | −$20.8M | −$1.6M | $25.4M | −$10.1M | $32.1M | −$8.0M |
| Cash at end of period | $54.0M | $12.9M | $25.2M | $35.1M | $47.0M | $14.2M | $31.7M | $52.5M | $54.1M | $28.8M | $38.9M | $6.7M |
| Free cash flow | $40.8M | −$12.7M | −$9.7M | −$12.3M | $84.1M | −$18.0M | −$20.8M | −$17.3M | −$12.4M | −$10.3M | −$7.3M | −$7.9M |
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.
SLSR cash generation
In fiscal 2025 (ended December 31, 2025), Solaris Resources generated $48.3 million of cash from operations and spent $4.2 million on capital expenditures, leaving free cash flow of $44.1 million. Cash and equivalents fell by $6.5 million over the year.
Related: SLSR income statement, SLSR balance sheet. See the SLSR stock overview for the latest quote and news.
SLSR cash flow FAQ
What is Solaris Resources's free cash flow?
Solaris Resources's free cash flow was $44.1 million in fiscal 2025: $48.3 million of operating cash flow minus $4.2 million of capital expenditures It was -$61.0 million a year earlier..
How much cash does Solaris Resources generate from operations?
Solaris Resources generated $48.3 million of cash from operating activities in fiscal 2025.
How much does Solaris Resources spend on capital expenditures?
Solaris Resources spent $4.2 million on capital expenditures in fiscal 2025, compared with $2.7 million the year before.