The firm reported a negative $6.4 million free cash flow in 2024Q4, highlighting a severe liquidity strain given the company's limited cash reserves of only $457.7K.
| Cash from Operations | -6.73M | -10.93M | -8.26M | -1.79M | -527.12K | 1.43M |
| Operating CF Margin % | - | -231.17% | -152.11% | -34.87% | -8.87% | 34.8% |
| Operating CF Growth % | -4664.08% | -32.21% | -361.46% | -239.74% | -136.78% | - |
| Net Income | -461.62K | 9.73M | -474.1K | 130.19K | 500.65K | -138.53K |
| Depreciation & Amortization | 179.9K | 499.5K | 206.26K | 229.71K | 303.94K | 342.54K |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | -486.71K | 0 | 208.14K | 0 |
| Other Non-Cash Items | -2.28M | -19.55M | 247.54K | -60.51K | -2.25M | 497.6K |
| Working Capital Changes | -4.17M | -1.6M | -7.76M | -2.09M | 710.35K | 731.39K |
| Change in Receivables | 269.97K | -538.39K | -39.87K | 1.17K | 129.92K | 56.18K |
| Change in Inventory | 0 | - | - | - | - | - |
| Change in Payables | 3.3M | -519.68K | 1.13M | 567.4K | 58.75K | -60.99K |
| Cash from Investing | 17.9M | -7.56M | -53.05K | -69.85K | -69.69M | -16.57K |
| Capital Expenditures | 13.58K | -4.75M | -53.05K | -69.85K | -94.45K | -16.57K |
| CapEx % of Revenue | 0.49% | 100.49% | 0.98% | 1.36% | 1.59% | 0.4% |
| Acquisitions | 0 | - | - | - | - | - |
| Investments | - | - | - | - | - | - |
| Other Investing | 4 | -1M | 0 | 780K | 94.45K | 0 |
| Cash from Financing | -11.02M | 18.99M | 8.68M | 1.91M | 70.27M | -1.54M |
| Debt Issued (Net) | 0 | - | - | - | - | - |
| Equity Issued (Net) | 442.02K | 12.62M | 0 | 192.31K | 71.87M | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -18.61M | 29.76K | 98.64K | 0 | -1.71M | -2.04M |
| Net Change in Cash | 176.08K | 300.88K | 403.64K | -615 | 54.72K | -77.43K |
| Free Cash Flow | -6.74M | -16.68M | -8.32M | -1.86M | -621.58K | 1.42M |
| FCF Margin % | -241.22% | -352.82% | -153.09% | -36.23% | -10.46% | 34.4% |
| FCF Growth % | - | -100.5% | -346.99% | -199.35% | -143.88% | - |
| FCF per Share | -11.45 | -28.35 | -14.14 | -7.10 | -2.37 | 5.40 |
| FCF Conversion (FCF/Net Income) | 14.60x | -1.11x | 15.74x | -13.76x | -1.15x | -2688.56x |
| Interest Paid | 0 | 26.21K | 768.07K | 0 | 55.47K | 65.58K |
| Taxes Paid | 0 | 0 | 0 | 0 | 12.17K | 3.83K |
Imminent liquidity and solvency
As documented in recent financial disclosures, NIVF's operating cash flow of negative $6.4 million in 2024Q4 stands in stark contrast to its reported net income, suggesting that the company's accounting earnings fail to reflect the underlying cash-burning nature of its current clinical operations.
The massive divergence between net income and operating cash flow indicates that the company's reported profitability is likely driven by non-cash accounting adjustments rather than operational success. Investors should interpret this as a warning that the core business model is currently unable to generate self-sustaining cash flow from its primary medical services.
Based on the latest quarterly data, NIVF's free cash flow has deteriorated significantly to negative $6.4 million, reflecting a trend where cash outflows are accelerating while the company struggles to maintain its revenue base in a highly competitive and volatile medical tourism market.
The consistent negative free cash flow trajectory suggests that the company is not yet at a scale where it can cover its fixed clinical and administrative costs. This persistent cash burn warrants further investigation into how long the firm can sustain operations without resorting to dilutive capital raises.
According to reported cash flow statements, the company experienced a significant $5.6 million working capital outflow in 2024Q4, which appears to indicate substantial pressure on liquidity as the firm manages its payables and receivables in a challenging cross-border regulatory environment.
This sharp movement in working capital suggests that the company may be struggling with the timing of cash collections from its international patient base or facing increased pressure from suppliers. Such volatility in working capital is often a precursor to liquidity constraints in firms with limited cash reserves.
As indicated by the provided financial data, the company's cash flow statement obscures the true extent of its operational distress by masking the reliance on non-operating gains to offset the heavy cash burn required to maintain its specialized medical laboratory and administrative infrastructure.
The lack of meaningful cash generation from core operations suggests that the business model may be fundamentally misaligned with its cost structure. Analysts should monitor whether the company's reliance on non-cash items continues to hide the underlying cash-flow deficit that threatens its long-term viability.
Quick answers to the most common questions about buying NIVF stock.
NewGenIvf Group Limited (NIVF) generated $-10.9M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
NewGenIvf Group Limited (NIVF) reported negative free cash flow of $16.7M in 2025, indicating capital requirements exceeded cash from operations.
NewGenIvf Group Limited (NIVF) spent $4.7M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.