Free cash flow remains persistently negative, with quarterly outflows often exceeding $2 million, underscoring a fundamental inability to generate self-sustaining cash flow from operations.
| Cash from Operations | -23.27M | -16.09M | -6.62M | -17.54M | -10.23M | -7.81M | -454.86K |
| Operating CF Margin % | - | - | -4349.62% | -841.04% | -710.05% | -2072.61% | -65.69% |
| Operating CF Growth % | -1233.97% | -143.17% | 62.28% | -71.5% | -31.01% | -1616.31% | - |
| Net Income | -62.92M | -79.07M | -34.52M | -20.71M | -29.52M | -9.38M | -17.9M |
| Depreciation & Amortization | 112.17K | 446.45K | 790.53K | 505.9K | 450.5K | 546.94K | 0 |
| Stock-Based Compensation | 2M | 1.79M | 1.87M | 2.49M | 2.36M | 441.37K | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 75.54M | 59.76M | 21.64M | -403.49K | 15.42M | 815.83K | 17.51M |
| Working Capital Changes | -977.69K | 981.1K | 3.6M | 573.4K | 1.05M | -226.96K | -67.52K |
| Change in Receivables | 293.56K | 0 | 482.28K | -155.08K | -103.92K | -170.28K | 0 |
| Change in Inventory | -46.47K | 0 | 28.01K | -1.61M | -199.43K | -234.5K | 0 |
| Change in Payables | 1.62M | 2.03M | 1.59M | 2.72M | 628.7K | 0 | 0 |
| Cash from Investing | -35.33M | -16.72M | 0 | -1.17M | -536.04K | -230.95K | -334.22M |
| Capital Expenditures | 600K | 0 | 0 | -1.17M | -536.04K | -426.44K | -866.24K |
| CapEx % of Revenue | 150.54% | - | - | 55.99% | 37.21% | 113.22% | 125.1% |
| Acquisitions | -1.14M | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - |
| Other Investing | -34.79M | -16.72M | 0 | 0 | -302.98M | 195.49K | 0 |
| Cash from Financing | 67.68M | 58.13M | 4.68M | 17.98M | 7.64M | 5.65M | 336.92M |
| Debt Issued (Net) | 22.6M | 27.3M | 1.8M | 17.65M | 7.3M | 0 | -52.25K |
| Equity Issued (Net) | 48.86M | 11.99M | 200K | 2.1M | 188.89K | 0 | 336.97M |
| Dividends Paid | -936 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -3.79M | 18.84M | 2.68M | -1.78M | 147.56K | 5.65M | 0 |
| Net Change in Cash | 9.07M | 25.33M | -1.94M | -731.55K | -3.13M | -2.39M | 2.25M |
| Free Cash Flow | -22.67M | -16.09M | -6.62M | -18.71M | -10.76M | -8.23M | -454.86K |
| FCF Margin % | -5687.48% | - | -4349.62% | -897.03% | -747.26% | -2185.83% | -65.69% |
| FCF Growth % | -251.38% | -143.17% | 64.63% | -73.8% | -30.74% | -1710.06% | - |
| FCF per Share | -0.19 | -0.50 | -1.13 | -3.77 | -3.29 | -1.38 | -0.08 |
| FCF Conversion (FCF/Net Income) | 0.36x | 0.20x | 0.19x | 0.85x | 0.72x | 0.83x | 0.04x |
| Interest Paid | 567.62K | 0 | 0 | 0 | 0 | 0 | 700K |
| Taxes Paid | 39.33K | 0 | 0 | 0 | 0 | 0 | 0 |
Liquidity exhaustion and commercial failure
According to the provided cash flow statements, Nuburu exhibits a persistent disconnect between net losses and operating cash outflows, with the OCF/NI ratio fluctuating wildly, suggesting that reported accounting losses do not fully capture the underlying cash burn required to sustain the company's current operational structure.
The extreme volatility in the OCF/NI ratio indicates that accruals and non-cash adjustments are masking the true severity of the company's cash consumption. Investors should interpret this divergence as a sign that the business model lacks the necessary scale to convert accounting losses into a predictable cash burn trajectory.
As reported in recent financial disclosures, Nuburu's free cash flow remains consistently negative, with quarterly outflows frequently exceeding $2 million, highlighting a structural inability to generate self-sustaining cash flow from its current industrial laser technology and project-based commercial model.
The absence of positive FCF margins suggests that the company is currently in a state of perpetual capital consumption rather than commercial maturation. This trend warrants further investigation into whether the company can reach a break-even point before its existing cash reserves are fully depleted.
Based on historical cash flow data, Nuburu's working capital changes show significant quarter-to-quarter swings, which may indicate erratic inventory management or inconsistent collection cycles that further complicate the company's ability to stabilize its liquidity position in the face of declining commercial activity.
These fluctuations in working capital suggest that the company's internal processes for managing receivables and inventory are not yet optimized for a repeatable commercial cycle. Such instability often precedes liquidity stress, as the company struggles to align its cash inflows with the timing of its operational expenditures.
Data from recent filings indicates that stock-based compensation and other non-cash adjustments are significant components of the company's financial profile, potentially obscuring the true economic cost of talent retention and R&D efforts in the absence of meaningful revenue generation.
By relying on non-cash expenses to manage the bottom line, the company may be understating the actual cash cost of its operations. Analysts should monitor these adjustments closely, as they represent a hidden drain on shareholder value that is not immediately apparent in the headline net income figures.
Quick answers to the most common questions about buying BURU stock.
Nuburu, Inc. (BURU) generated $-16.1M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Nuburu, Inc. (BURU) reported negative free cash flow of $16.1M in 2025, indicating capital requirements exceeded cash from operations.
Nuburu, Inc. (BURU) spent $0.0M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.