MOONLAKE IMMUNOTHERAPEUTICS
Cash Flow Statement
| Line Item | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $-61.8M | $-69.7M | $-62.4M | $-69.7M | $-55.2M | $-39.9M | $-45.6M | $-35.4M |
| Depreciation & Amortization | $896.0K | $845.0K | $751.0K | $745.0K | $742.0K | $378.0K | $364.0K | $351.0K |
| Depreciation | — | — | — | — | — | — | — | $32.5K |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $2.5M | $13.4M | $3.6M | $3.7M | $3.3M | $2.3M | $1.9M | $1.8M |
| Net Cash from Operating Activities | $-55.6M | $-66.3M | $-58.8M | $-44.5M | $-54.5M | $-38.1M | $-48.5M | $-25.3M |
| Investing Activities | ||||||||
| Capital Expenditures | $0 | $0 | $0 | $0 | $0 | $35.0K | $176.0K | $132.0K |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $322.0K | $98.0K | $-29.9M | $88.4M | $88.3M | $56.2M | $-147.3M | $58.3M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | — | — | — | — | — | — | $0 | $0 |
| Net Cash from Financing Activities | $234.6M | $30.6M | $72.4M | $480.0K | $0 | $73.1M | $151.0K | $183.0K |
| Net Change in Cash | $179.4M | $-36.0M | $-16.2M | $44.1M | $35.1M | $91.1M | $-195.2M | $32.9M |
| Free Cash Flow | $-55.6M | $-66.3M | $-58.8M | $-44.5M | $-54.5M | $-38.2M | $-48.6M | $-25.4M |