Operational cash flow remains deeply negative, with a $4.0 million free cash flow outflow in 2026Q2 highlighting the persistent burn required to maintain commercial operations.
| Cash from Operations | -16.86M | -5.49M | 126.35K | -601.3K | -47.97K |
| Operating CF Margin % | - | - | - | - | - |
| Operating CF Growth % | -614.72% | -4446.59% | 121.01% | -1153.55% | - |
| Net Income | -42.51M | -24.76M | -21.15M | 2.42M | 380.81K |
| Depreciation & Amortization | 0 | 0 | 0 | 0 | 0 |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 573.27K | 1.06M | 576K | 0 | 0 |
| Other Non-Cash Items | 13.74M | 8.32M | 7.5M | -3.43M | -493.02K |
| Working Capital Changes | 11.34M | 9.89M | 13.2M | 411.77K | 64.24K |
| Change in Receivables | -1.09M | 0 | 0 | 349.05K | 25.99K |
| Change in Inventory | -6.1M | -12.65M | -2.13M | 0 | 0 |
| Change in Payables | 1.25M | 9.52M | 2.42M | 0 | 0 |
| Cash from Investing | -10.86M | -5.75M | -5M | -1.32M | -67.32M |
| Capital Expenditures | 0 | 0 | 0 | 0 | 0 |
| CapEx % of Revenue | 0% | - | - | - | - |
| Acquisitions | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - |
| Other Investing | -10.86M | -5.75M | -5M | 0 | 0 |
| Cash from Financing | 30.36M | 15.17M | 4.87M | 1.66M | 67.66M |
| Debt Issued (Net) | 0 | 0 | 3.8M | 0 | 0 |
| Equity Issued (Net) | 30.36M | 15.17M | 0 | 0 | 68.04M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 0 | 0 | 1.07M | 1.66M | -383.84K |
| Net Change in Cash | 2.63M | 3.92M | -32.63K | -256.43K | 289.18K |
| Free Cash Flow | -16.86M | -5.49M | 126.35K | -601.3K | -47.97K |
| FCF Margin % | -300.41% | - | - | - | - |
| FCF Growth % | -3243.65% | -4446.73% | 121.01% | -1153.49% | - |
| FCF per Share | -0.17 | -0.07 | 0.00 | -0.01 | -0.00 |
| FCF Conversion (FCF/Net Income) | 0.40x | 0.22x | -0.01x | 0.05x | 0.00x |
| Interest Paid | 14.46K | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity shortfall
According to recent financial filings, CTOR's operating cash flow to net income ratio reached 0.15 in 2026Q2, illustrating a significant divergence between accounting losses and actual cash usage that suggests the company's reported earnings do not capture the full extent of its ongoing operational cash requirements.
The wide gap between net income and operating cash flow indicates that non-cash items or working capital adjustments are masking the true intensity of the company's cash burn. Investors should monitor whether this conversion ratio stabilizes as the commercial launch matures, as current levels suggest a reliance on accounting adjustments that may not be sustainable.
As reported in quarterly statements, CTOR's free cash flow trajectory remains deeply negative, with a $4.0 million outflow in 2026Q2, highlighting the persistent challenge of funding commercialization efforts without a self-sustaining revenue base to offset the high costs of specialized oncology drug distribution.
The consistent negative free cash flow trajectory underscores the company's dependence on external financing to maintain operations. Without a clear path to positive margins, the current burn rate appears to be a structural feature of the business model rather than a temporary phase of the launch cycle.
Based on the provided data, CTOR experienced a significant working capital swing of $17.9 million in 2026Q2, which suggests that the company's cash position is highly sensitive to the timing of inventory management and the collection of receivables during this early commercialization phase.
The erratic nature of these working capital changes implies that the company is struggling to optimize its cash conversion cycle. This volatility warrants further investigation into whether the firm is effectively managing its payables or if the fluctuations are driven by lumpy, non-recurring inventory build-ups.
As indicated by the company's financial statements, the lack of reported stock-based compensation or significant depreciation and amortization suggests that the cash flow statement is currently reflecting raw operational burn, which may be understating the true long-term costs of maintaining a specialized oncology sales force.
The absence of these typical non-cash adjustments implies that the reported cash burn is largely driven by direct operational expenses. This transparency, while helpful, highlights the vulnerability of the company's cash position, as there are few non-cash levers to pull to improve the reported cash flow profile.
Quick answers to the most common questions about buying CTOR stock.
Citius Oncology, Inc. (CTOR) generated $-5.5M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Citius Oncology, Inc. (CTOR) reported negative free cash flow of $5.5M in 2025, indicating capital requirements exceeded cash from operations.
Citius Oncology, Inc. (CTOR) 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.