Liquidity remains under pressure, with the company recording a $29.1M cash outflow in 2025Q1 and a volatile OCF/NI ratio that reached 2.88 in 2023Q2, highlighting the difficulty of funding operations through milestone-dependent cash flows.
| Cash from Operations | -70.15M | -76.44M | -127.16M | 322K | -85.8M | -6.08M | -18.43M | -12.62M |
| Operating CF Margin % | - | -142.95% | -248.68% | 0.24% | -1128.89% | -4506.67% | - | - |
| Operating CF Growth % | -186.08% | 39.88% | -39590.06% | 100.38% | -1310.19% | 66.99% | -46.05% | - |
| Net Income | -72.2M | -84.69M | -93.8M | -29.05M | -106.91M | -53.42M | -27.22M | -14.28M |
| Depreciation & Amortization | 2.75M | 1.92M | 1.95M | 1.98M | 1.47M | 897K | 605K | 407K |
| Stock-Based Compensation | 10.97M | 23.17M | 25.06M | 19.69M | 12.83M | 2.54M | 511K | 306K |
| Deferred Taxes | 0 | 0 | 0 | 3.62M | 149K | 588K | 0 | 306K |
| Other Non-Cash Items | -4.29M | -2.79M | -5.19M | -3.94M | 1.87M | 890K | 1.08M | 1.13M |
| Working Capital Changes | -7.38M | -14.06M | -55.18M | 8.03M | 4.79M | 42.42M | 6.59M | -484K |
| Change in Receivables | 3.24M | 2.72M | -216K | -1.52M | 3M | -2.95M | -1.91M | -485K |
| Change in Inventory | 0 | 0 | 0 | 0 | -3M | 2.95M | 0 | 0 |
| Change in Payables | -9.31M | 1.23M | 1.93M | -1.35M | 152K | 17K | 833K | 10K |
| Cash from Investing | 62.33M | 49.47M | 78.04M | -175.78M | -1.68M | -9.76M | -1.3M | -583K |
| Capital Expenditures | 0 | 0 | -1.94M | -602K | -1.69M | -2.24M | -1.3M | -583K |
| CapEx % of Revenue | 0% | - | 3.79% | 0.46% | 22.24% | 1657.04% | - | - |
| Acquisitions | 1M | 0 | 0 | 175.18M | 40K | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | -175.18M | 0 | 0 | 0 | 0 |
| Cash from Financing | 110K | 542K | 842K | 880K | 95.56M | 247.84M | 103.24M | 0 |
| Debt Issued (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity Issued (Net) | 110K | 542K | 842K | 880K | 1000K | 1000K | 1000K | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 80K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 0 | 0 | 0 | 0 | 1.27M | 15.8M | 0 | 0 |
| Net Change in Cash | -7.72M | -26.55M | -48.25M | -174.91M | 8.03M | 231.39M | 84.08M | -13.46M |
| Free Cash Flow | -70.15M | -76.44M | -129.1M | -280K | -87.49M | -8.32M | -19.73M | -13.2M |
| FCF Margin % | -590.97% | -142.95% | -252.47% | -0.21% | -1151.13% | -6163.7% | - | - |
| FCF Growth % | 9.69% | 40.78% | -46005.71% | 99.68% | -951.39% | 57.83% | -49.48% | - |
| FCF per Share | -1.63 | -1.80 | -3.07 | -0.01 | -2.31 | -0.23 | -0.54 | -0.84 |
| FCF Conversion (FCF/Net Income) | 0.97x | 0.90x | 1.36x | -0.01x | 0.80x | 0.11x | 0.68x | 0.88x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 139K | 4.95M | 10.81M | 25K | 156K | 23K | 0 |
Clinical milestone funding dependency
According to recent financial disclosures, the relationship between net income and operating cash flow is highly volatile, with OCF/NI ratios fluctuating from 0.81 in 2025Q3 to 2.88 in 2023Q2, reflecting the lumpy nature of milestone-driven revenue recognition versus actual cash inflows from collaboration partners.
The divergence between net income and operating cash flow suggests that accounting earnings are heavily influenced by non-cash revenue recognition schedules rather than operational efficiency. Investors should monitor whether future cash flows can decouple from these sporadic milestone payments to support the company's ongoing R&D requirements.
As reported in quarterly filings, Repare's free cash flow trajectory remains deeply negative in most periods, with the company recording a $29.1M outflow in 2025Q1, highlighting the significant cash burn required to sustain clinical trial activities in the absence of consistent, recurring product-based revenue streams.
The erratic FCF margins, which swung from -117.1% in 2023Q2 to positive territory in 2025Q3, indicate that the company's cash position is highly sensitive to the timing of clinical development milestones. This trajectory suggests that the firm remains in a capital-intensive phase where cash preservation is secondary to pipeline advancement.
Based on reported figures, working capital changes have been a significant drag on cash, notably in 2023Q2 when a $27.6M outflow occurred, suggesting that the timing of payments to CROs and the collection of milestone receivables create substantial quarterly liquidity fluctuations for the organization.
The negative working capital trends observed in several periods imply that the company often experiences timing mismatches between operational commitments and cash receipts. This volatility warrants further investigation into the company's ability to manage its payables effectively during periods of reduced milestone activity.
As indicated in recent financial statements, stock-based compensation has been a consistent feature of the company's cost structure, reaching $6.5M in 2024Q2, which effectively obscures the true cash-based cost of retaining specialized scientific talent necessary for the SNIPRx platform's ongoing development and clinical execution.
While SBC is a non-cash expense, it represents a real economic cost to shareholders through dilution that is not fully captured in the operating cash flow statement. Analysts should adjust for these figures to better understand the underlying cash burn rate required to maintain the company's competitive research position.
Quick answers to the most common questions about buying RPTX stock.
Repare Therapeutics Inc. (RPTX) generated $-76.4M in net cash from operating activities in 2024. This reflects the cash generated directly from core business operations.
Repare Therapeutics Inc. (RPTX) reported negative free cash flow of $76.4M in 2024, indicating capital requirements exceeded cash from operations.
Repare Therapeutics Inc. (RPTX) spent $0.0M on capital expenditures in 2024. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.