Liquidity is under extreme pressure as the company reported a significant working capital outflow of -$5.6M in 2024Q4, contributing to a total free cash flow deficit of -$6.4M.
| 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 | 14.09K | -254.55K | 45.45K | -80.67K | -7.22K | 1.35K |
| 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 | -1.05M | 0 | 0 | 0 | 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) | 7.16M | 6.34M | 8.58M | 1.71M | 108.73K | 495.6K |
| 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 crisis
As reported in recent financial filings, the company's operating cash flow of -$6.4M in 2024Q4 significantly diverges from its net income, suggesting that reported earnings are heavily influenced by non-cash accounting adjustments rather than the actual cash-generating capacity of its clinical reproductive services.
The massive gap between net income and operating cash flow indicates that the company's reported bottom line is likely distorted by non-operating items, such as warrant liability revaluations. Investors should interpret this as a sign that the core business is failing to convert its service activity into tangible liquidity.
Based on the latest quarterly data, NewGenIvf's free cash flow remains deeply negative, with a 2024Q4 burn of -$6.4M, highlighting a structural inability to fund its high-cost clinical operations through internal revenue generation while maintaining its current multi-jurisdictional footprint.
The persistent negative trajectory of free cash flow suggests that the company is trapped in a cycle of cash consumption. Without a fundamental shift in patient volume or cost management, the current burn rate appears unsustainable given the limited cash reserves available to the firm.
According to recent SEC filings, the company experienced a significant working capital outflow of -$5.6M in 2024Q4, which directly exacerbated the cash burn and underscores the difficulty in managing cash cycles within its complex, cross-border medical tourism business model.
The sharp swing in working capital suggests potential inefficiencies in collecting payments or managing the timing of service delivery versus cash receipt. This volatility in working capital is particularly concerning given the company's already strained liquidity position and reliance on external funding.
Financial statements indicate that the company's cash flow statement is heavily impacted by non-operating adjustments, as evidenced by the 2024Q4 data where operating cash flow was significantly lower than net income, potentially masking the true extent of the underlying clinical cash burn.
The reliance on non-cash adjustments to reconcile net income to operating cash flow warrants further investigation into the nature of these accounting entries. It appears that the cash flow statement is being used to obscure the reality that the core clinical operations are not self-sustaining.
Quick answers to the most common questions about buying NIVFW stock.
NewGenIvf Group Limited (NIVFW) generated $-10.9M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
NewGenIvf Group Limited (NIVFW) reported negative free cash flow of $16.7M in 2025, indicating capital requirements exceeded cash from operations.
NewGenIvf Group Limited (NIVFW) 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.