Free cash flow remains deeply negative at an outflow of $1.7 million in 2026Q3, highlighting a persistent cash burn that is not supported by any underlying operational revenue.
| Cash from Operations | -5.96M | -6.57M | -8.27M | -8.92M | -6.61M | -2.71M | -2.35M | -1.05M | -2.05M | -1.42M | -18.49K |
| Operating CF Margin % | - | - | - | - | - | - | - | - | - | - | - |
| Operating CF Growth % | -28.49% | 20.58% | 7.32% | -34.91% | -143.88% | -15.61% | -124.43% | 49.06% | -44.82% | -7561.12% | - |
| Net Income | -7.04M | -4.51M | -9.95M | -14.88M | -12.36M | -5.05M | -4.41M | -4.86M | -931.66K | -1.57M | -69.46K |
| Depreciation & Amortization | 95.74K | 50.74K | 50.74K | 23.07K | 3.55K | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock-Based Compensation | 164.99K | 325.11K | 955.63K | 3.58M | 4.41M | 2.03M | 1.8M | 396.17K | 218.42K | 114.41K | 40.98K |
| Deferred Taxes | 0 | 0 | 0 | -1.71M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 465.14K | 9.29K | 714 | 1.71M | 8.77K | 454.63K | 562.28K | 2.19M | 227.21K | 88.47K | 15.61K |
| Working Capital Changes | 356.78K | -2.44M | 670.67K | 2.35M | 1.33M | -152.45K | -299.35K | 1.23M | -1.35M | -49.68K | -5.63K |
| Change in Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 1.22M | 0 | 0 | 1.71M | 693.58K | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | -210K | -300K | -147.24K | 0 | -106.46K | 100.92K | 105K | 234.09K | -400K | 0 | 0 |
| Capital Expenditures | -210K | -300K | -147.24K | 0 | -106.46K | 0 | 0 | 0 | 0 | 0 | 0 |
| CapEx % of Revenue | - | - | - | - | - | - | - | - | - | - | - |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | -5.37M | 100.92K | 105K | 234.09K | -400K | 0 | 0 |
| Cash from Financing | 5.52M | 10.44M | 3.65M | 200 | 18.85M | 4.45M | 2.29M | 308.72K | 2.99M | 1.42M | 25.34K |
| Debt Issued (Net) | 0 | 0 | 300K | 0 | 0 | 400.19K | 0 | 0 | -364.1K | 0 | 0 |
| Equity Issued (Net) | 2M | 1000K | 1000K | 0 | 0 | 0 | 0 | 236.02K | 1000K | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 600 | 600 | 0 | 200 | 18.85M | 4.05M | 2.29M | 72.7K | -259.41K | 1.42M | 25.34K |
| Net Change in Cash | -645K | 3.57M | -4.76M | -8.92M | 12.13M | 1.84M | 47.68K | -502.39K | 540.02K | 3.83K | 6.85K |
| Free Cash Flow | -6.17M | -6.87M | -8.42M | -8.92M | -6.72M | -2.71M | -2.35M | -1.05M | -2.05M | -1.42M | -18.49K |
| FCF Margin % | - | - | - | - | - | - | - | - | - | - | - |
| FCF Growth % | 13.83% | 18.4% | 5.67% | -32.78% | -147.8% | -15.61% | -124.43% | 49.06% | -44.82% | -7561.12% | - |
| FCF per Share | -1.62 | -15.24 | -111.97 | -123.53 | -101.83 | -50.40 | -44.44 | -23.98 | -61.02 | -66.41 | - |
| FCF Conversion (FCF/Net Income) | 0.88x | 1.45x | 0.83x | 0.60x | 0.54x | 0.54x | 0.53x | 0.21x | 2.20x | 0.90x | 0.27x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity and dilution risk
According to the provided financial data, ALZN's operating cash flow consistently tracks below net income, with an OCF/NI ratio that fluctuated significantly, reaching 0.79 in 2026Q3, which highlights the absence of any underlying cash-generating capability to offset the company's persistent and deepening net losses.
The disconnect between net income and operating cash flow suggests that the company's reported losses are exacerbated by cash-based operational requirements rather than non-cash accounting adjustments. Investors should monitor this trend, as the inability to bridge the gap between accounting losses and cash burn indicates a structural reliance on external financing.
As reported in financial statements, ALZN's free cash flow remains deeply negative, with a $1.7 million outflow in 2026Q3, confirming that the firm is in a continuous state of cash depletion as it attempts to fund its clinical development pipeline without any offsetting revenue streams.
The trajectory of free cash flow appears to be dictated entirely by the intensity of R&D activities rather than operational efficiency. This pattern suggests that the company's cash runway is highly sensitive to the pace of clinical trials, leaving little room for error in capital allocation.
Based on reported figures, working capital changes have been highly erratic, swinging from a $269.3K outflow in 2026Q3 to a $269.3K inflow in 2026Q1, which suggests that the company's liquidity is subject to significant quarter-to-quarter fluctuations in payables and accruals as it manages its limited cash reserves.
These swings in working capital may indicate an attempt to manage cash outflows by delaying payments to vendors or clinical sites. Such tactics appear to be a reactive measure to preserve liquidity rather than a sign of efficient operational management.
Data from recent filings reveals that stock-based compensation, while declining from $318.3K in 2024Q2 to $9.3K in 2026Q3, has historically served as a non-cash expense that obscures the true magnitude of the company's cash-based operational burn rate during its most critical development phases.
While the reduction in stock-based compensation may appear to improve the quality of earnings, it also removes a mechanism that previously preserved cash. This shift warrants further investigation, as it may force the company to rely more heavily on dilutive equity offerings to cover its ongoing operating expenses.
Quick answers to the most common questions about buying ALZN stock.
Alzamend Neuro, Inc. (ALZN) generated $-6.6M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Alzamend Neuro, Inc. (ALZN) reported negative free cash flow of $6.9M in 2025, indicating capital requirements exceeded cash from operations.
Alzamend Neuro, Inc. (ALZN) spent $0.3M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.