Free cash flow remains consistently negative with quarterly outflows often exceeding $2 million, reflecting a business model that lacks a sustainable commercial revenue stream.
| Cash from Operations | -9.5M | -7.37M | -6.82M | -7.31M | -12.5M | -9.06M | -10.56M | -8.92M | -9.8M | -4.53M | -3.14M | -3.5M |
| Operating CF Margin % | - | -17547.62% | -3766.85% | - | -9327.61% | -1587.22% | -2892.33% | -3779.24% | -1959.2% | - | - | - |
| Operating CF Growth % | -208.74% | -8.1% | 6.73% | 41.52% | -37.91% | 14.15% | -18.37% | 8.95% | -116.44% | -44.05% | 10.1% | - |
| Net Income | -12.38M | -11.44M | -9.54M | -8.89M | -13.07M | -12.19M | -11.22M | -10.79M | -10.3M | -11.2M | -1.2M | -4.28M |
| Depreciation & Amortization | 29K | 30K | 46K | 56K | 64K | 53K | 63K | 238K | 54K | 43K | 35K | 28K |
| Stock-Based Compensation | 0 | 2.75M | 2.56M | 1.69M | 2.25M | 1.86M | 901K | 1.48M | 1.23M | 4.88M | 1.49M | 366K |
| Deferred Taxes | 0 | 0 | 14K | 29K | 174K | -217K | 0 | 33K | -41K | -324K | 22K | 0 |
| Other Non-Cash Items | 2.34M | 32K | -5K | 0 | -78K | 18K | 46K | -569K | -232K | 1.16M | -3.84M | 576K |
| Working Capital Changes | 508.19K | 1.26M | 112K | -195K | -1.83M | 1.41M | -351K | 691K | -506K | 909K | 353K | -183K |
| Change in Receivables | 7.03K | 126K | -126K | 246K | -63K | 72K | 23K | 447K | -725K | 0 | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | -72K | 0 | 341K | 117K | 0 | 0 | 0 |
| Change in Payables | 159.15K | 316K | 49K | 66K | -149K | 74K | -147K | -139K | -123K | 543K | -298K | 227K |
| Cash from Investing | -105.48K | -107K | -3K | -17K | -102K | -17K | -53K | 3.95M | -4.07M | 1M | -1.12M | -54K |
| Capital Expenditures | -105.48K | -107K | -3K | -17K | -47K | -17K | -53K | -40K | -68K | -51K | -41K | -54K |
| CapEx % of Revenue | - | 254.76% | 1.66% | - | 35.07% | 2.98% | 14.52% | 16.95% | 13.6% | - | - | - |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | -55K | 0 | 0 | 3.99M | -4M | 1.05M | -1.07M | 0 |
| Cash from Financing | 1.33M | 13.71M | 4.48M | 6.04M | 13K | 25.38M | 4.05M | 12.65M | 9.62M | 11.11M | 7.22M | 4.46M |
| Debt Issued (Net) | 0 | 0 | 0 | 0 | 0 | 0 | -136K | -114K | 0 | -980K | 7.22M | 2M |
| Equity Issued (Net) | 1.33M | 13.71M | 3.96M | 6.62M | 13K | 21.8M | 3.98M | 12.53M | 9.62M | 12.09M | 0 | 2.46M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 0 | 0 | 516K | -580K | 0 | 3.58M | 204K | 238K | 0 | 0 | 0 | 0 |
| Net Change in Cash | -8.65M | 6.23M | -2.35M | -1.29M | -12.58M | 16.3M | -6.56M | 7.68M | -4.24M | 7.58M | 2.96M | 915K |
| Free Cash Flow | -9.61M | -7.48M | -6.82M | -7.33M | -12.55M | -9.08M | -10.61M | -8.96M | -9.86M | -4.58M | -3.18M | -3.55M |
| FCF Margin % | - | -17802.38% | -3768.51% | - | -9362.69% | -1590.19% | -2906.85% | -3796.19% | -1972.8% | - | - | - |
| FCF Growth % | -50.81% | -9.62% | 6.91% | 41.6% | -38.17% | 14.42% | -18.43% | 9.17% | -115.51% | -43.8% | 10.31% | - |
| FCF per Share | -0.20 | -0.16 | -0.18 | -0.25 | -0.44 | -0.35 | -0.58 | -0.74 | -0.86 | -0.38 | -0.27 | -0.30 |
| FCF Conversion (FCF/Net Income) | 0.78x | 0.64x | 0.71x | 0.82x | 0.96x | 0.74x | 0.94x | 0.83x | 0.95x | 0.40x | 2.62x | 0.82x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 2K | 89K | 0 | 0 | 0 | 0 | 0 |
Critical cash runway depletion
According to the provided quarterly data, Entera Bio consistently reports negative operating cash flows that track closely with net losses, with OCF/NI ratios ranging from 0.55 to 1.26, indicating that the company lacks any meaningful non-cash accrual cushion to mitigate its ongoing cash burn.
The tight correlation between net income and operating cash flow suggests that the company's losses are primarily driven by actual cash expenditures rather than accounting adjustments. Investors should note that the absence of significant non-cash expenses means that every dollar of net loss translates almost directly into a depletion of the company's limited cash reserves.
As reported in financial statements, Entera Bio's free cash flow remains consistently negative, with quarterly outflows frequently exceeding $2 million, reflecting a business model that is entirely dependent on external capital to fund its clinical-stage research and development activities without any offsetting commercial revenue.
The persistent negative free cash flow trajectory underscores the company's status as a pre-revenue entity where capital is consumed at a rate that far outpaces any sporadic milestone payments. This trend suggests that the company's financial viability is tethered to its ability to secure future funding rounds rather than internal cash generation.
Based on the reported figures, working capital changes have been highly erratic, swinging from a $941.6K outflow in 2023Q4 to a $555K inflow in 2025Q1, which complicates the assessment of the company's underlying operational efficiency and cash management practices during this critical development phase.
These fluctuations in working capital appear to be driven by the timing of milestone-related receivables and the settlement of R&D-related payables rather than sustainable operational improvements. Analysts should monitor these swings closely, as they may temporarily mask the true underlying rate of cash consumption required to maintain the company's clinical pipeline.
Data indicates that share-based compensation has been a significant component of the company's expense structure, with quarterly figures reaching as high as $928K, which effectively obscures the true economic cost of operations by shifting the burden of compensation from cash to equity dilution.
While share-based compensation does not impact the immediate cash burn, it represents a substantial hidden cost that dilutes existing shareholders to fund ongoing operations. Investors should interpret these figures as a form of non-cash financing that allows the company to preserve its limited cash reserves at the expense of long-term equity value.
Quick answers to the most common questions about buying ENTX stock.
Entera Bio Ltd. (ENTX) generated $-7.4M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Entera Bio Ltd. (ENTX) reported negative free cash flow of $7.5M in 2025, indicating capital requirements exceeded cash from operations.
Entera Bio Ltd. (ENTX) spent $0.1M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.