LIPOCINE INC.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $-9.6M | $8.4K | $-16.4M | $-10.8M | $-634.4K | $-21.0M | $-13.0M | $-11.7M |
| Depreciation & Amortization | $60.8K | $41.1K | $28.7K | $9.5K | $380 | $3.6K | $15.4K | $18.6K |
| Depreciation | $61.0K | $41.0K | $29.0K | $9.5K | $400 | $4.0K | — | — |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $242.5K | $408.6K | $654.4K | $636.1K | $603.9K | $1.4M | $1.0M | $1.5M |
| Net Cash from Operating Activities | $-9.8M | $-1.2M | $-11.9M | $-12.0M | $-4.4M | $-15.3M | $-11.7M | $-12.1M |
| Investing Activities | ||||||||
| Capital Expenditures | — | $90.1K | $13.2K | $133.8K | $7.6K | — | — | $0 |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $5.9M | $2.4M | $13.1M | $14.3M | $-43.8M | $3.9M | $3.0M | $11.3M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $2.9M | $209.3K | $404.6K | $-2.1M | $26.9M | $20.9M | $10.3M | $10.7M |
| Net Change in Cash | $-1.0M | $1.4M | $1.6M | $197.9K | $-21.3M | $9.5M | — | $9.9M |
| Free Cash Flow | — | $-1.3M | $-11.9M | $-12.1M | $-4.4M | — | — | $-12.1M |