Operating cash flow remains consistently negative, evidenced by a $2.2M outflow in 2025Q4, indicating an inability to generate organic capital for ongoing initiatives.
| Cash from Operations | -3.52M | -19.11M | 13.41M | -3.94M | -20.48M | 105.67K | 7.98M | -1.18M | 1.38M |
| Operating CF Growth % | 81.56% | -242.48% | 440.38% | 80.76% | -19482.54% | -98.68% | 777.82% | -185.18% | - |
| Net Income | -4.97M | -27.45M | -5.83M | -33.97M | -826.7K | -3.35M | 8.22M | -2.77M | -734.41K |
| Depreciation & Amortization | 2.49M | 2.94M | 2.36M | 2.69M | 1.3M | 40.56K | 52.85K | 32.74K | 19.41K |
| Deferred Taxes | 0 | 0 | 0 | 0 | 1.13K | -451 | -1.83K | -628 | 1.78K |
| Other Non-Cash Items | -2.51M | -23.88M | 1M | 827.26K | 815.77K | 13.29K | -25.53K | -8.15M | -1.44M |
| Working Capital Changes | 1.25M | 28.05M | 14.2M | 25.21M | -22.62M | -251.79K | -264.85K | 1.56M | 2.09M |
| Cash from Investing | -21.63M | -114.28K | 1.42M | -7.09M | -12.1M | -6.55M | -27.25M | -62.59K | -1.14M |
| Purchase of Investments | -21.62M | -4.52M | 0 | -4.79M | -17.47M | 0 | -927.18K | -1.11M | 0 |
| Sale/Maturity of Investments | 0 | 4.52M | 0 | 6.51M | 15.88M | 162.57K | 927.18K | 1.11M | 0 |
| Net Investment Activity | -21.62M | 0 | 0 | 1.71M | -1.59M | 162.57K | 0 | 0 | 0 |
| Acquisitions | 77 | -114.29K | 1.5M | 0 | -40K | 0 | 0 | 0 | -127.92K |
| Other Investing | 0 | -114.28K | 7.77M | -8.81M | -16.16M | -6.71M | -27.23M | 0 | 0 |
| Cash from Financing | 28.03M | 5.49M | 1.66M | 9.81M | 43.58M | 2.64M | 20.66M | 5.42M | 839.56K |
| Dividends Paid | 0 | 0 | 0 | -4.12M | -302.25K | -385.89K | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Issued | 5.92M | 0 | 699.03K | 0 | 777.97K | 2.02M | 0 | 0 | 0 |
| Net Stock Activity | 5.92M | 0 | 699.03K | 0 | 777.97K | 2.02M | 0 | 0 | 0 |
| Debt Issuance (Net) | 1000K | 1000K | 1000K | 1000K | -182.24K | 287.14K | 0 | 0 | -999.1K |
| Other Financing | 0 | 3.15M | -705.99K | 1.71M | 32.76M | 717.13K | 20.66M | 5.42M | 1.84M |
| Net Change in Cash | 2.93M | -13.67M | 16.69M | -1.35M | 10.96M | -3.79M | 1.47M | 4.15M | 989.95K |
| Exchange Rate Effect | 59.86K | 63.95K | 205.91K | -123.76K | -33.83K | 16.44K | 85.97K | -24.62K | -95.13K |
| Cash at Beginning | 17.42M | 31.1M | 14.4M | 15.75M | 4.79M | 8.58M | 7.11M | 2.96M | 1.97M |
| Cash at End | 20.36M | 17.42M | 31.1M | 14.4M | 15.75M | 4.79M | 8.58M | 7.11M | 2.96M |
| Interest Paid | 44.29K | 243.76K | 2.03M | 1.61M | 841.85K | 115.16K | 729.5K | 0 | 0 |
| Income Taxes Paid | 1K | 1.25K | 1.06K | 3.42K | 54.67K | 8.23K | 1.52K | 180.69K | 0 |
| Free Cash Flow | -3.54M | -19.11M | 5.56M | -3.94M | -30.72M | 100.49K | 7.95M | -1.24M | 1.31M |
| FCF Growth % | 81.5% | -443.55% | 241.17% | 87.17% | -30666.6% | -98.74% | 741.61% | -194.88% | - |
Speculative pivot execution risk
As reported in recent financial statements, Lion Group Holding's operating cash flow has remained consistently negative, with a $2.2M outflow in 2025Q4, underscoring the firm's inability to generate organic capital to support its ongoing operational requirements and speculative metaverse-related development initiatives.
The recurring disconnect between net income and operating cash flow suggests that the firm's earnings are not translating into tangible liquidity. Investors should monitor whether the company's reliance on external financing, such as the $1.0M in long-term debt issued in 2025Q4, will become a permanent feature of its capital structure.
Based on the company's reported figures, investment activity remains negligible, with only $6.2K in purchases during 2025Q4, indicating that the firm is not actively deploying its cash reserves into traditional income-generating securities to offset its core operational losses.
The lack of meaningful investment activity suggests that the firm's cash pile is likely held in low-yield liquid assets rather than being utilized for strategic portfolio growth. This conservative stance on investment may reflect a need to preserve liquidity for the firm's high-burn speculative ventures.
According to historical data, LGHL's provision for loan losses has fluctuated wildly, reaching $1.0M in 2025Q4 after periods of zero activity, which suggests an inconsistent approach to managing credit risk within its brokerage and synthetic product lending books.
This volatility in provisioning makes it difficult to assess the true underlying credit quality of the firm's loan book. The lack of a stable provisioning methodology may indicate that the firm is adjusting reserves reactively rather than proactively, which warrants further investigation by risk-focused analysts.
As indicated by the periodic issuance of long-term debt, such as the $1.0M recorded in 2025Q4, the firm appears to rely on external capital injections to sustain its operations, a trend that is often obscured by the company's focus on speculative metaverse growth.
The cash flow statement reveals that the firm's survival is currently tethered to its ability to access debt markets rather than its operational success. Analysts should be wary that the company's cash-on-hand may be depleted faster than anticipated if these financing channels face tightening or increased cost of capital.
Quick answers to the most common questions about buying LGHL stock.
Lion Group Holding Ltd. (LGHL) generated $-3.5M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Lion Group Holding Ltd. (LGHL) reported negative free cash flow of $3.5M in 2025, indicating capital requirements exceeded cash from operations.
Lion Group Holding Ltd. (LGHL) 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.