Persistent cash burn is evident in the 2026Q1 free cash flow of -$1.4 million, which necessitates frequent external funding to maintain operations given the lack of internal cash generation.
| Cash from Operations | -5.78M | -5.41M | -3.91M | -480.95K | -1.25M | -1.74M | -254.78K | -142.95K |
| Operating CF Margin % | - | -24838.21% | - | - | -535.19% | -271.94% | -22.62% | - |
| Operating CF Growth % | -3279.61% | -38.42% | -713.18% | 61.48% | 28.04% | -580.99% | -78.23% | - |
| Net Income | -9.18M | 0 | -2.44M | -4.78M | -4.96M | -4.2M | -1.65M | -3.05M |
| Depreciation & Amortization | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock-Based Compensation | -421.45K | 0 | 1.84M | 1.2M | 817.25K | 1.3M | 563.53K | 944.58K |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | -4.78M | -5.52M | -746.57K | 755.91K | 1.34M | 381.43K | -127.74K | 865.63K |
| Working Capital Changes | -44.57K | 105.39K | -2.57M | 2.35M | 1.55M | 781.29K | 964.13K | 1.09M |
| Change in Receivables | 2.64K | -2.64K | 0 | 0 | 0 | 126.23K | -126.23K | 0 |
| Change in Inventory | 11.72K | -159.79K | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | -50.46K | 242.16K | -149.53K | 164.88K | -56.28K | -155.26K | 185.96K | 162.73K |
| Cash from Investing | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Expenditures | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| CapEx % of Revenue | 0% | 0.02% | - | - | 0% | 0% | - | - |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Financing | 5.44M | 5.43M | 7.65M | 445K | 982.33K | 1.86M | 461.5K | 107.79K |
| Debt Issued (Net) | 0 | 5.43M | -2.22M | 390K | 982.33K | 527.65K | -238.5K | 0 |
| Equity Issued (Net) | 5.51K | 0 | 9.88M | 55K | 0 | 830K | 200K | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 5.43M | 0 | 0 | 0 | 0 | 500K | 500K | 107.79K |
| Net Change in Cash | -343.72K | 19.83K | 3.74M | -35.95K | -266.17K | 122.6K | 206.72K | -35.16K |
| Free Cash Flow | -5.78M | -5.41M | -3.91M | -480.95K | -1.25M | -1.74M | -254.78K | -142.95K |
| FCF Margin % | -14296.86% | -24838.21% | - | - | -535.19% | -271.94% | -22.62% | - |
| FCF Growth % | -17.8% | -38.42% | -713.18% | 61.48% | 28.04% | -580.99% | -78.23% | - |
| FCF per Share | -0.16 | -0.16 | -0.14 | -0.01 | -0.04 | -0.18 | -0.03 | -0.02 |
| FCF Conversion (FCF/Net Income) | 0.63x | 0.63x | 1.60x | 0.10x | 0.25x | 0.40x | 0.15x | 0.05x |
| Interest Paid | -146 | 0 | 147.78K | 28.13K | 81.5K | 1.06K | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity and dilution
According to the company's quarterly financial statements, the OCF/NI ratio has fluctuated wildly, reaching 0.69 in 2026Q1, which suggests that net income figures are heavily influenced by non-cash items rather than reflecting the actual cash-based operational reality of the firm's ongoing clinical development activities.
The significant variance between net income and operating cash flow indicates that accounting accruals and non-cash adjustments are obscuring the true rate of capital consumption. Investors should monitor this divergence closely, as it suggests that reported losses may not fully capture the immediate liquidity pressure facing the organization.
Based on reported financial data, Jupiter Neurosciences has consistently generated negative free cash flow, with a 2026Q1 FCF of -$1.4 million, highlighting a persistent inability to fund operations through internal sources while maintaining a cash-burning profile that necessitates frequent external capital injections to sustain clinical trials.
The absence of positive free cash flow is characteristic of a pre-commercial biotech, yet the magnitude of the burn relative to the company's limited cash reserves warrants concern. This trajectory implies that without a major partnership or milestone-driven inflow, the firm remains entirely dependent on dilutive financing.
As evidenced by the quarterly cash flow data, working capital changes have been highly erratic, swinging from a $705.1K inflow in 2025Q2 to a $3.4 million outflow in 2024Q4, which suggests inconsistent management of payables and accruals during periods of intense clinical trial activity.
These fluctuations in working capital appear to be a byproduct of the company's project-based cost structure rather than operational efficiency. The lack of a stable working capital cycle indicates that cash management is reactive to trial-related obligations rather than being a strategic component of the firm's financial health.
Data from recent filings indicates that stock-based compensation has been a recurring feature of the cash flow statement, with a $2.0 million adjustment in 2025Q4, which effectively masks the true economic cost of talent acquisition and retention in a highly competitive biotechnology labor market.
By relying on equity-based incentives, the company preserves cash in the short term but creates a persistent overhang of potential dilution for existing shareholders. Analysts should interpret these adjustments as a hidden operational expense that, if paid in cash, would significantly accelerate the current depletion of liquid assets.
Quick answers to the most common questions about buying JUNS stock.
Jupiter Neurosciences, Inc. (JUNS) generated $-5.4M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Jupiter Neurosciences, Inc. (JUNS) reported negative free cash flow of $5.4M in 2025, indicating capital requirements exceeded cash from operations.
Jupiter Neurosciences, Inc. (JUNS) 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.