Persistent negative free cash flow, which reached -$1.8M in 2026Q1, underscores a structural inability to fund clinical operations internally, further complicated by $1.4M in stock-based compensation.
| Cash from Operations | -8M | -8.6M | -6.65M | -7.24M | -3.88M | -4.49M | -3.14M | -90.07K | -417.02K | 1.55M |
| Operating CF Margin % | - | -631.16% | - | - | - | -5985.92% | -10195.12% | - | - | - |
| Operating CF Growth % | -74.6% | -29.38% | 8.15% | -86.79% | 13.67% | -43.15% | -3382.03% | 78.4% | -126.84% | - |
| Net Income | -11.87M | -11.92M | -10.88M | -21.27M | -37.57M | -13.45M | -9.16M | -2.23K | -344.31K | 2.65M |
| Depreciation & Amortization | 1.23M | 1.22M | 1.04M | 1.04M | 1M | 447.41K | 323.43K | 0 | 0 | 0 |
| Stock-Based Compensation | 1.82M | 1.22M | 1.1M | 477.5K | 0 | 1.9M | 0 | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 5.34M | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 2.91M | 2.34M | 2.21M | 10.79M | 33.25M | 4.26M | 3.03M | -88.28K | 0 | 0 |
| Working Capital Changes | -1.24M | -1.46M | -125.26K | 1.73M | -550.34K | -2.98M | 2.66M | 450 | -72.72K | -1.09M |
| Change in Receivables | -7.35K | -7.35K | -234.74K | -30.9K | -8.07K | 21.79K | -14.91K | 0 | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | -422.02K | 732.15K | 0 | 0 | 0 |
| Change in Payables | -109.49K | -381.01K | -149.94K | 1.32M | -35.07K | -1.58M | 1.47M | 0 | 0 | 0 |
| Cash from Investing | 591.52K | 0 | 0 | 0 | 0 | -1.75M | -75.75M | 0 | 0 | 0 |
| Capital Expenditures | 0 | 0 | 0 | 0 | 0 | -1.75M | 0 | 0 | 0 | 0 |
| CapEx % of Revenue | 0% | - | - | - | - | 2333.33% | - | - | - | - |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 85.41K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Financing | 8.35M | 13.74M | 5.71M | 4.92M | 5.49M | 8.22M | 2.9M | 90.57K | 570.2K | -1.55M |
| Debt Issued (Net) | 0 | 771.25K | 1.2M | -575K | -2.42M | -1.62M | 1.83M | 0 | 0 | 0 |
| Equity Issued (Net) | 7.64M | 12.97M | 4.01M | 5.29M | 3.27M | 9.89M | 1.07M | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | -247.16K | 0 | 0 | 0 | 0 |
| Other Financing | 704.25K | 0 | 500K | 200K | 4.63M | -50.9K | 0 | 90.57K | 570.2K | -1.55M |
| Net Change in Cash | 942.82K | 5.14M | -936.25K | -2.32M | 1.61M | 1.98M | -237.12K | 505 | 153.18K | 383 |
| Free Cash Flow | -8M | -8.6M | -6.65M | -7.24M | -3.88M | -6.24M | -3.14M | -90.07K | -417.02K | 1.55M |
| FCF Margin % | -565.49% | -631.16% | - | - | - | -8319.25% | -10195.12% | - | - | - |
| FCF Growth % | -12.41% | -29.38% | 8.15% | -86.79% | 37.88% | -98.95% | -3382.03% | 78.4% | -126.84% | - |
| FCF per Share | -1.33 | -2.03 | -3.45 | -0.28 | -0.27 | -6.11 | -0.15 | -0.01 | -223.85 | 834.05 |
| FCF Conversion (FCF/Net Income) | 0.67x | 0.72x | 0.62x | 0.34x | 0.10x | 0.33x | 0.34x | 40.32x | 1.21x | 0.59x |
| Interest Paid | 2.19K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity and dilution
As reported in financial statements, Coeptis Therapeutics consistently demonstrates a significant gap between net income and operating cash flow, with OCF/NI ratios frequently below 1.0, suggesting that reported losses are partially mitigated by non-cash accounting adjustments rather than genuine operational efficiency or cash-generative activities.
The persistent divergence between net income and operating cash flow indicates that the company's bottom-line performance is heavily influenced by non-cash items. Investors should monitor whether these accruals represent sustainable accounting practices or merely a temporary deferral of the underlying cash burn inherent in the firm's R&D-heavy business model.
Based on the provided cash flow data, Coeptis exhibits a persistent negative free cash flow trend, with quarterly outflows consistently ranging between $1.4M and $2.4M, which underscores the company's structural inability to fund its clinical development pipeline through internal operations alone.
The lack of positive free cash flow is a critical indicator of the company's reliance on external capital markets. This trajectory suggests that until the GEAR platform reaches a commercial inflection point, the company will likely remain in a state of perpetual cash consumption.
According to recent SEC filings, Coeptis utilizes stock-based compensation as a significant component of its operational structure, with figures reaching $1.4M in 2026Q1, which effectively masks the true cash cost of talent acquisition and retention required to advance its complex cell therapy programs.
By relying on equity-based incentives, the company preserves limited cash reserves at the expense of shareholder dilution. Analysts should interpret these adjustments as a hidden cost of operations that, while not impacting immediate cash flow, significantly alters the long-term value proposition for existing equity holders.
As evidenced by the quarterly cash flow data, fluctuations in working capital, including a notable $907K swing in 2023Q4, suggest that the company's cash management is highly sensitive to the timing of clinical trial payments and vendor obligations rather than predictable operational cycles.
This volatility in working capital management may indicate a lack of standardized procurement or payment processes, which is common in early-stage biotech. Investors should be wary of these swings, as they can create sudden, unexpected liquidity crunches that force the company to seek dilutive financing on unfavorable terms.
Quick answers to the most common questions about buying COEP stock.
Coeptis Therapeutics, Inc. (COEP) generated $-8.6M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Coeptis Therapeutics, Inc. (COEP) reported negative free cash flow of $8.6M in 2025, indicating capital requirements exceeded cash from operations.
Coeptis Therapeutics, Inc. (COEP) 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.