Borealis Foods Inc.
Cash Flow Statement
| Line Item | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $-3.5M | $-6.4M | $-3.8M | $-4.6M | $-4.2M | $-25.3M | $-4.8M | $-6.3M |
| Depreciation & Amortization | $386.0K | $-521.4K | $1.4M | $473.4K | $481.0K | $-926.0K | $1.9M | $395.0K |
| Depreciation | $386.0K | $0 | $0 | $38.2M | $481.0K | — | — | — |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | — | — | $3.0K | $254.7K | $58.2K | $0 | $0 | $0 |
| Net Cash from Operating Activities | $-122.9K | $-2.8M | $-190.6K | $-2.2M | $-1.4M | $-819.4K | $-3.3M | $-4.2M |
| Investing Activities | ||||||||
| Capital Expenditures | — | — | — | — | $16.2K | $132.2K | $453.9K | $514.3K |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | — | $-4.4K | $-32.7K | $-2.9K | $-25.7K | $-198.5K | $-496.8K | $-724.4K |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $538.9K | $2.8M | $145.6K | $2.2M | $937.9K | $949.3K | $1.4M | $-123.9K |
| Net Change in Cash | — | — | — | — | — | — | — | — |
| Free Cash Flow | — | — | — | — | $-1.4M | $-951.6K | $-3.7M | $-4.7M |