Free cash flow remains deeply negative with quarterly outflows consistently exceeding $1 million, highlighting a structural inability to fund R&D through internal operations.
| Cash from Operations | -5.7M | -24.45M | -9.33M | -7.51M | -915.08K | -8.8K |
| Operating CF Margin % | - | -7.33% | -165.83% | -829.94% | - | - |
| Operating CF Growth % | 212.51% | -162.13% | -24.19% | -720.84% | -10296.3% | - |
| Net Income | -8.28M | -111.46M | -7.31M | -51.79M | -4.53M | -13.8K |
| Depreciation & Amortization | 1.2M | 22.25M | 1.01M | 122.02K | 1.7K | 0 |
| Stock-Based Compensation | 866.66K | 0 | 2.05M | 43.8M | 838.58K | 0 |
| Deferred Taxes | -342.8K | 6.64M | -1.05M | -234.54K | 860K | 0 |
| Other Non-Cash Items | -920.49K | 15.23M | -983.96K | -1.14M | 985.37K | 0 |
| Working Capital Changes | 1.78M | 42.89M | -3.05M | 1.73M | 926.18K | 5K |
| Change in Receivables | -823.18K | 28.08M | 273.09K | -44.13K | 0 | 0 |
| Change in Inventory | -3.72M | 34.88M | -5.79M | 66.48K | 0 | 0 |
| Change in Payables | 6.24M | -18.85M | 2.5M | 1.49M | 926.71K | 0 |
| Cash from Investing | -270.17K | -35.99M | 134.87K | -2.34M | -138M | 0 |
| Capital Expenditures | -177.23K | -6M | -158.28K | -179.19K | 0 | 0 |
| CapEx % of Revenue | 2.26% | 1.8% | 2.81% | 19.8% | - | - |
| Acquisitions | 0 | -31.75M | 0 | -1.93M | 0 | 0 |
| Investments | - | - | - | - | - | - |
| Other Investing | -242.73K | -8.61M | 0 | 0 | 0 | 0 |
| Cash from Financing | 5.95M | 13.07M | 11.71M | 11.28M | 139.05M | 14.49K |
| Debt Issued (Net) | 4.79M | 23.3M | 10.91M | 1.3M | 0 | 295K |
| Equity Issued (Net) | 764.6K | -926.9K | 1000K | 1000K | 1000K | 26.2K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -305K | -926.9K | -305K | 0 | 0 | 0 |
| Other Financing | -1.04M | -9.3M | -1.38M | -24.1K | -403.89K | -306.71K |
| Net Change in Cash | 228.43K | -52.23M | 2.86M | 1.45M | 131.02K | 5.69K |
| Free Cash Flow | -6.12M | -30.1M | -9.49M | -7.69M | -1.89M | -8.8K |
| FCF Margin % | -78.09% | -9.02% | -168.65% | -849.74% | - | - |
| FCF Growth % | 52.73% | -217.33% | -23.35% | -307.77% | -21326.71% | - |
| FCF per Share | -2.36 | -69.87 | -3.70 | -3.35 | -0.75 | -0.01 |
| FCF Conversion (FCF/Net Income) | 0.74x | 0.22x | 1.28x | 0.15x | 0.20x | 0.64x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 |
Critical liquidity and dilution
According to quarterly financial statements, the relationship between net income and operating cash flow remains highly erratic, with OCF/NI ratios fluctuating wildly from 0.01 in 2022Q2 to 11.89 in 2022Q3, suggesting that accruals and non-cash adjustments significantly distort the company's true cash-generating capacity.
The extreme variance in the OCF/NI ratio indicates that reported net income is a poor proxy for the company's underlying cash performance. Investors should interpret these swings as evidence of significant non-cash charges and working capital volatility that mask the core operational burn rate.
As reported in recent filings, Moolec's free cash flow trajectory remains deeply negative, with quarterly outflows consistently exceeding $1 million, reflecting a structural inability to fund its R&D-heavy biotech pipeline through internal operations while maintaining its legacy soy-processing business model.
The persistent negative FCF margins, which reached -126.6% in 2023Q3, highlight the company's reliance on external financing to sustain its operations. This trend suggests that until the molecular farming segment achieves commercial scale, the company will likely remain in a state of perpetual cash consumption.
Based on historical cash flow data, working capital changes have been highly inconsistent, swinging from a $3.0 million outflow in 2023Q2 to a $1.9 million inflow in 2024Q2, which indicates significant instability in the company's ability to manage its inventory and accounts receivable cycles.
This volatility in working capital suggests that the company's cash position is highly sensitive to the timing of agricultural harvests and ingredient sales. Such fluctuations complicate cash flow forecasting and may exacerbate the liquidity pressures already evident in the company's balance sheet.
Data from recent SEC filings reveals that stock-based compensation and other non-cash adjustments frequently offset net losses, with SBC reaching $42.8 million in 2022Q2, effectively obscuring the true economic cost of the company's R&D and administrative activities from a cash-flow perspective.
The reliance on non-cash compensation to manage the bottom line warrants further investigation into the company's long-term incentive structures. Investors should be wary of how these adjustments impact the perceived cash burn, as they do not alleviate the fundamental need for external capital to fund operations.
Quick answers to the most common questions about buying MLEC stock.
Moolec Science S.A. (MLEC) generated $-24.5M in net cash from operating activities in 2024. This reflects the cash generated directly from core business operations.
Moolec Science S.A. (MLEC) reported negative free cash flow of $30.1M in 2024, indicating capital requirements exceeded cash from operations.
Moolec Science S.A. (MLEC) spent $6.0M on capital expenditures in 2024. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2024, Moolec Science S.A. (MLEC) spent $0.9M on share repurchases. This shows the company's commitment to returning capital to its equity investors.