Liquidity is under significant pressure, evidenced by a deeply negative free cash flow of -$1.8M in 2025Q4 and a cash position that has dwindled to $2.1M from $7.7M in 2023Q2.
| Cash from Operations | -3.7M | -1.69M | -2.59M | -1.1M | -1.27M | -692.31K | -471.85K |
| Operating CF Margin % | -1489.3% | -3258.52% | -891.58% | - | -1508.86% | -1541.1% | - |
| Operating CF Growth % | -118.19% | 34.59% | -134.47% | 13.01% | -83.46% | -46.72% | - |
| Net Income | -4M | -1.84M | -3.13M | -2.34M | -1.52M | -1.47M | -632.61K |
| Depreciation & Amortization | 401.58K | 245.56K | 288.82K | 293.31K | 244.59K | 221.49K | 132K |
| Stock-Based Compensation | 694.2K | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | -311.4K | -39.47K | 256.37K | 1.05M | 327.66K | 674.29K | 57.09K |
| Working Capital Changes | -485.51K | -57.91K | -3.98K | -108.38K | -321.14K | -122.69K | -28.32K |
| Change in Receivables | -557.39K | -57.91K | -3.98K | -108.38K | -321.14K | -122.69K | 7.12K |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | -26.11K |
| Change in Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | 929.28K | 494.59K | -2.11M | -353.37K | -610.72K | -371.94K | -872.98K |
| Capital Expenditures | -637.85K | -1.03M | -44.17K | -353.74K | -431.8K | -185.29K | -872.98K |
| CapEx % of Revenue | 256.92% | 1971.49% | 15.2% | - | 512.96% | 412.46% | - |
| Acquisitions | 1.22M | 0 | 0 | 355 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - |
| Other Investing | 76.37K | 1.52M | 772 | 11 | 640 | -6.94K | 0 |
| Cash from Financing | 208.65K | -33.36K | 8.16M | 793.25K | 3.09M | 1.44M | 887.24K |
| Debt Issued (Net) | -53.54K | -32.64K | -30.63K | -58.8K | -43.68K | -8.3K | -21.99K |
| Equity Issued (Net) | 283.09K | 0 | 8.42M | 1.1M | 2.98M | 362.48K | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -20.91K | -716 | -222.82K | -252.12K | 161.63K | 1.09M | 909.23K |
| Net Change in Cash | -2.6M | -1.28M | 3.54M | -683.72K | 1.19M | 669.82K | 275.83K |
| Free Cash Flow | -4.4M | -3.01M | -2.72M | -1.4M | -1.7M | -828.43K | -1.34M |
| FCF Margin % | -1772.51% | -5787.01% | -936.13% | - | -2021.82% | -1844.11% | - |
| FCF Growth % | -46.22% | -10.64% | -94.59% | 17.87% | -105.44% | 38.4% | - |
| FCF per Share | -0.38 | -0.26 | -0.26 | -0.18 | -0.25 | -0.14 | -0.24 |
| FCF Conversion (FCF/Net Income) | 1.21x | 0.90x | 0.83x | 0.49x | 0.83x | 0.47x | 0.75x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Insufficient liquidity for operations
According to recent financial filings, GDTC's operating cash flow consistently tracks net losses, with an OCF/NI ratio of 1.18 in 2025Q4, indicating that the company's reported net income is essentially a reflection of its cash-based research expenditures rather than any underlying accrual-based operational profitability.
The tight correlation between net income and operating cash flow suggests that the company lacks significant non-cash expenses or complex accruals that typically distort earnings in mature firms. Investors should interpret this as a pure-play cash burn profile where every dollar of loss represents a direct depletion of the company's limited liquidity.
As reported in quarterly statements, GDTC's free cash flow has remained deeply negative, reaching -$1.8M in 2025Q4, which highlights a persistent and widening gap between the company's research-driven cash outflows and its inability to generate meaningful self-sustaining revenue from its clinical-stage cell therapy platform.
The consistent negative FCF margins, which reached -14.0% in the most recent quarter, underscore the structural challenge of funding long-term clinical trials with minimal top-line support. This trajectory suggests that the company remains entirely dependent on external capital markets to sustain its ongoing research and development activities.
Based on the provided cash flow data, GDTC's capital expenditures have fluctuated significantly, peaking at $282.4K in 2025Q4, which reflects the necessary investment in specialized laboratory infrastructure required to support the expansion of its proprietary gamma delta T cell manufacturing processes.
While the capital intensity appears relatively low compared to large-scale manufacturing, the erratic nature of these expenditures suggests a reactive approach to equipment procurement rather than a planned, long-term asset replacement cycle. This volatility may indicate that the company is still in the process of establishing its core technical capabilities.
As indicated by recent financial disclosures, GDTC experienced a working capital outflow of $245.0K in 2025Q4, suggesting that the company is currently struggling to manage its cash conversion cycle as it scales its research operations and increases its reliance on external vendors for specialized biological materials.
The negative working capital changes in recent periods may imply that the company is facing pressure to pay down liabilities faster than it can collect on its incidental research grants. This dynamic warrants further investigation into the company's ability to manage its payables without further straining its already limited cash reserves.
Quick answers to the most common questions about buying GDTC stock.
CytoMed Therapeutics Limited (GDTC) generated $-3.7M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
CytoMed Therapeutics Limited (GDTC) reported negative free cash flow of $4.4M in 2025, indicating capital requirements exceeded cash from operations.
CytoMed Therapeutics Limited (GDTC) spent $0.6M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.