The firm faces a persistent negative free cash flow trajectory, with quarterly outflows of $991,000 indicating a critical reliance on capital markets to sustain operations.
| Cash from Operations | -5.96M | -3.96M | -12.62M | -6.68M | -6.46M | -6.55M | -2.56M | -609K | -635K | -870K |
| Operating CF Margin % | - | -23264.71% | - | - | -7510.47% | - | - | - | - | - |
| Operating CF Growth % | 49.06% | 68.66% | -88.97% | -3.41% | 1.43% | -156.28% | -319.87% | 4.09% | 27.01% | - |
| Net Income | -4.09M | -5.02M | -14.59M | -9.34M | -8.79M | -7.25M | -4.05M | -1.28M | -828K | -1.12M |
| Depreciation & Amortization | 190K | 774K | 16K | 15K | 15K | 7K | 987K | 1K | 0 | 0 |
| Stock-Based Compensation | 112K | 447K | 310K | 804K | 1.39M | 812K | 38K | 89K | 0 | 18K |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | -987K | 2K | 0 | 0 |
| Other Non-Cash Items | 440K | -2K | -16K | 218K | 257K | 412K | 2.33M | 613K | 324K | 257K |
| Working Capital Changes | -2.62M | -152K | 1.66M | 1.63M | 672K | -538K | -869K | -35K | -131K | -23K |
| Change in Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 0 | -243K | 76K | 12K | 73K | -585K | 720K | -2K | -62K | 0 |
| Cash from Investing | -51K | -982K | -13K | 5.99M | -6.01M | -50K | -10K | 0 | 0 | 0 |
| Capital Expenditures | -1K | -2K | -13K | -9K | -6K | -50K | -10K | 0 | 0 | 0 |
| CapEx % of Revenue | - | 11.76% | - | - | 6.98% | - | - | - | - | - |
| Acquisitions | 0 | 20K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -50K | 0 | 0 | 0 | -6K | -50K | 0 | 0 | 0 | 0 |
| Cash from Financing | 6.7M | 3.82M | 8.86M | 4.62M | 0 | 7.48M | 17.31M | 1.51M | 488K | 699K |
| Debt Issued (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 241K | 488K | 699K |
| Equity Issued (Net) | 0 | 3.82M | 5.35M | 1.7M | 0 | 6M | 17.31M | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 6.7M | 0 | 3.51M | 2.91M | 0 | 1.48M | 0 | 1.27M | 0 | 0 |
| Net Change in Cash | -2.79M | -105K | -3.77M | 3.93M | -12.46M | 881K | 14.74M | 901K | -147K | -171K |
| Free Cash Flow | -5.96M | -3.96M | -12.63M | -6.69M | -6.46M | -6.6M | -2.57M | -609K | -635K | -870K |
| FCF Margin % | - | -23276.47% | - | - | -7517.44% | - | - | - | - | - |
| FCF Growth % | 47.33% | 68.68% | -88.91% | -3.45% | 2.09% | -157.23% | -321.51% | 4.09% | 27.01% | - |
| FCF per Share | -70.17 | -6.11 | -696.40 | -3065.08 | -3638.15 | -4038.53 | -1315.06 | -392.65 | -275.37 | -377.28 |
| FCF Conversion (FCF/Net Income) | 1.46x | 0.82x | 0.87x | 0.71x | 0.73x | 0.90x | 0.63x | 0.33x | 0.77x | 0.42x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity and dilution
According to the latest quarterly filings, PRFX reported a net loss of $1.2 million alongside an operating cash outflow of $991,000, reflecting a persistent inability to bridge the gap between accounting losses and actual cash consumption as the firm advances its clinical development pipeline.
The OCF/NI ratio of 0.86 in the most recent quarter suggests that cash burn is slightly lower than reported net losses, likely due to non-cash adjustments. However, this does not signal operational health, as the company remains entirely dependent on external financing to cover its ongoing clinical trial expenditures.
As reported in recent financial statements, PRFX continues to experience a consistent negative free cash flow trajectory, with quarterly outflows hovering near $1 million, underscoring the company's status as a pre-revenue entity entirely reliant on capital markets to sustain its research and development activities.
The absence of positive FCF margins is expected given the clinical-stage nature of the business, yet the lack of any trend toward breakeven warrants caution. Investors should monitor the burn rate closely, as the current trajectory suggests that cash reserves will be exhausted without a significant capital infusion.
Based on the provided cash flow data, PRFX has exhibited significant volatility in working capital changes, with swings ranging from a $3.2 million inflow in 2023Q4 to a $1.2 million outflow in 2024Q4, indicating inconsistent cash management practices during its clinical trial phase.
These fluctuations likely reflect the timing of payments to clinical research organizations and other vendors rather than operational efficiency. Such instability in working capital suggests that management may be struggling to align cash outflows with the specific milestones of their ongoing Phase 3 trials.
Analysis of the cash flow statement reveals that PRFX's reported figures are heavily influenced by non-cash items like stock-based compensation, which reached $261,000 in 2023Q2, effectively masking the true extent of the cash-based operational deficit required to maintain the company's clinical development programs.
While stock-based compensation is a standard tool for preserving cash in early-stage biotech, it represents a future dilution risk that investors must account for. The reliance on these adjustments suggests that the underlying cash burn is more severe than the headline operating cash flow figures might imply.
Quick answers to the most common questions about buying PRFX stock.
PRF Technologies Ltd. (PRFX) generated $-4.0M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
PRF Technologies Ltd. (PRFX) reported negative free cash flow of $4.0M in 2025, indicating capital requirements exceeded cash from operations.
PRF Technologies Ltd. (PRFX) 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.