X4 Pharmaceuticals, Inc.
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 | $-16.2M | $-20.2M | $-23.9M | $-29.8M | $-25.7M | $282.0K | $-39.8M | $-36.7M |
| Depreciation & Amortization | $997.0K | $223.0K | $223.0K | $223.0K | $355.0K | $476.0K | $273.0K | $267.0K |
| Depreciation | $35.0K | $36.0K | — | — | $168.0K | $289.0K | $89.0K | $80.0K |
| Amortization | — | — | — | — | — | — | — | $200.0K |
| Stock-Based Compensation | $3.1M | $2.4M | $2.3M | $760.0K | $748.0K | $519.0K | $2.2M | $1.8M |
| Net Cash from Operating Activities | $-20.8M | $-19.6M | $-15.5M | $-27.8M | $-29.9M | $-12.4M | $-33.0M | $-409.0K |
| Investing Activities | ||||||||
| Capital Expenditures | — | — | $0 | $0 | $0 | $0 | $41.0K | $92.0K |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-1.0M | $19.3M | $16.8M | $-28.7M | $23.1M | $-3.1M | $-8.6M | $-15.9M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $75.0K | $2.0K | $146.1M | $86.9M | $5.6M | $0 | $135.0K | $0 |
| Net Change in Cash | $-21.7M | $-365.0K | $147.4M | $30.4M | $-1.0M | $-15.4M | $-41.7M | $-49.8M |
| Free Cash Flow | — | — | $-15.5M | $-27.8M | $-29.9M | $-12.4M | $-33.0M | $-501.0K |