Free cash flow remains deeply negative with a quarterly burn rate of approximately $3.5 million, forcing the company to rely on external capital to sustain its operations.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 |
|---|
| Cash from Operations | -16.35M | -15.24M | -12.49M | -6.56M | -3.73M | -3.77M | -3.5M | -3.9M | -4.89M | -5.9M | -5.31M | -4.57M | -3.36M | -3.22M | -2.3M | -1.92M |
| Operating CF Margin % | - | - | - | - | - | - | - | -1874.56% | -11249.72% | -1000.08% | -868.39% | -3188.74% | -5623.83% | - | - | - |
| Operating CF Growth % | -158.12% | -22.02% | -90.45% | -75.86% | 1.06% | -7.66% | 10.21% | 20.3% | 17.01% | -10.98% | -16.35% | -35.8% | -4.47% | -40.09% | -19.88% | - |
| Net Income | -16.89M | -19.39M | -22.6M | -7.1M | -4.43M | -4.07M | -2.7M | -3.52M | -6.72M | -10.33M | -5.41M | -5.84M | 2.98M | -9.8M | -2.77M | -2.36M |
| Depreciation & Amortization | 56K | 42K | 36K | 13K | 23K | 42K | 47K | 50.59K | 58.79K | 67.88K | 59.58K | 44.89K | 34.68K | 33.68K | 25.55K | 23.05K |
| Stock-Based Compensation | 232K | 211K | 173K | 281K | 439K | 223K | 22K | 512.38K | 705.25K | 2.71M | 70.25K | 18.01K | 50.38K | 35.62K | 349.52K | 378.07K |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 42K | 0 | 0 | 0 | -300.32K | -78.55K | -149.09K | 0 | 9.79M | -17.24K | 0 |
| Other Non-Cash Items | -18.93M | 3.69M | 9.83M | 55K | 60K | 44K | 160K | 7.55K | -927 | 3.03K | -629 | 1.28M | -6.56M | -3.14M | -26.04K | 26.06K |
| Working Capital Changes | -202K | 209K | 67K | 190K | 184K | -53K | -1.03M | -953.47K | 1.06M | 1.96M | 47.25K | 81.3K | 133.18K | -136.81K | 143.53K | 21.05K |
| Change in Receivables | 0 | 0 | 0 | 0 | 0 | 68K | 10K | -44.04K | 89.31K | -19.27K | -73.44K | 4.13K | -24.54K | 0 | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 293K | -85K | 953 | 720.38K | 608.21K | -590.62K | -737.55K | -94.89K | 0 | 0 | 0 |
| Change in Payables | -313K | 325K | 263K | 167K | 74K | -257K | -714K | -600.35K | -261.92K | 620.8K | 526.56K | 982.22K | 68.84K | -77.26K | 48.85K | 64.7K |
| Cash from Investing | -87K | -96K | -104K | 0 | 1K | -1K | -53K | -23.43K | -5.37K | -19.47K | -76.45K | -203.17K | -91.51K | -104.28K | -17.73K | -40.18K |
| Capital Expenditures | -87K | -96K | -104K | 0 | -1K | -5K | -53K | -23.43K | -5.37K | -19.47K | -76.45K | -143.74K | -63.45K | -64.25K | -11.35K | -54.62K |
| CapEx % of Revenue | - | - | - | - | - | - | - | 11.27% | 12.35% | 3.3% | 12.5% | 100.4% | 106.16% | - | - | - |
| Acquisitions | 0 | 0 | 0 | 0 | 2K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | 0 | 4K | 0 | 0 | 0 | 0 | 0 | -59.43K | -28.06K | -40.03K | -6.39K | 14.44K |
| Cash from Financing | 11.24M | 17.04M | 13.74M | 8.73M | 0 | 0 | 13.01M | 4.2M | 4.96M | 5.75M | 4.94M | -460.86K | 6.97M | 5.06M | 953.53K | 2.38M |
| Debt Issued (Net) | 0 | 3M | 4.38M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -439.94K | 0 | 0 | 36.35K | -18.67K |
| Equity Issued (Net) | -5.8M | 14.04M | 9.28M | 8.73M | 0 | 0 | 13.01M | 4.17M | 2.7M | 3.8M | 3.31M | 0 | 3.71M | 5.38M | 0 | 2.4M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -5.73K | -13.53K | -57.06K | -370.44K | -288.25K | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 17.04M | 0 | 85K | 0 | 0 | 0 | 0 | 33K | 2.26M | 1.95M | 1.64M | 36.14K | 3.63M | -38.8K | 917.18K | 0 |
| Net Change in Cash | -5.18M | 1.76M | 1.13M | 2.17M | -3.78M | -3.77M | 9.41M | 326.03K | 56.34K | -95.05K | -459.87K | -5.22M | 3.44M | 1.84M | -1.35M | 402.26K |
| Free Cash Flow | -16.44M | -15.34M | -12.59M | -6.56M | -3.73M | -3.77M | -3.55M | -3.92M | -4.9M | -5.91M | -5.39M | -4.71M | -3.43M | -3.28M | -2.31M | -1.97M |
| FCF Margin % | - | - | - | - | - | - | - | -1885.83% | -11262.07% | -1003.39% | -880.89% | -3289.14% | -5729.99% | - | - | - |
| FCF Growth % | -31.06% | -21.77% | -92.04% | -75.82% | 1.17% | -6.19% | 9.4% | 19.91% | 17.19% | -9.77% | -14.43% | -37.48% | -4.36% | -42.18% | -17.13% | - |
| FCF per Share | -10.03 | -17.05 | -33.86 | -31.59 | -24.10 | -24.43 | -23.57 | -32.91 | - | -0.87 | -0.89 | -0.83 | -0.64 | -40.06 | -5646.19 | -5.03 |
| FCF Conversion (FCF/Net Income) | 0.97x | 0.79x | 0.55x | 0.92x | 0.84x | 0.93x | 1.30x | 1.11x | 0.73x | 0.57x | 0.98x | 0.78x | -1.13x | 0.33x | 0.83x | 0.81x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Clinical trial funding shortfall
As reported in financial statements, GCTK's operating cash flow consistently tracks net losses, with the 2026Q1 OCF/NI ratio of 0.93 highlighting that the company lacks any meaningful non-cash accruals to bridge the gap between its accounting losses and the actual cash required to sustain its R&D operations.
The tight correlation between net income and operating cash flow suggests that the company's burn is driven by immediate cash outlays rather than accounting adjustments. Investors should monitor this relationship, as the absence of significant non-cash expenses implies that the firm's cash runway is directly tied to its ability to minimize operating losses.
Based on the provided financial data, GCTK's free cash flow remains deeply negative, with a quarterly burn rate averaging approximately $3.5 million, which underscores the company's total dependence on external financing to maintain its clinical development programs and administrative overhead in the absence of commercial revenue.
The persistent negative FCF trajectory indicates that the company is currently in a capital-intensive phase with no internal cash generation to offset its R&D expenditures. This trend suggests that the firm will likely require additional dilutive capital raises to reach its next regulatory milestone.
According to recent SEC filings, GCTK's working capital movements have been highly erratic, with a $2.3 million inflow in 2024Q2 followed by a $1.2 million outflow in 2024Q4, indicating that the company's cash position is susceptible to timing differences in payables and potential inventory-related adjustments.
These fluctuations in working capital appear to be a byproduct of the company's pre-revenue status rather than operational efficiency. Analysts should interpret these swings as a sign of limited control over cash timing, which may exacerbate liquidity pressures during periods of high clinical trial activity.
As indicated by the company's financial data, the reliance on stock-based compensation, which reached $206,000 in 2024Q2, suggests that the firm is attempting to preserve its limited $7.38 million cash balance by substituting equity for cash-based compensation to retain essential engineering talent during its pivot.
While this strategy helps conserve immediate liquidity, it may mask the true cost of operations and lead to future dilution for existing shareholders. Investors should monitor whether this reliance on equity-based incentives increases as the company's cash runway continues to shorten.
Quick answers to the most common questions about buying GCTK stock.
GlucoTrack, Inc. (GCTK) generated $-15.2M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
GlucoTrack, Inc. (GCTK) reported negative free cash flow of $15.3M in 2025, indicating capital requirements exceeded cash from operations.
GlucoTrack, Inc. (GCTK) 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.