Liquidity is critically low with only $54,066 in cash, while negative AFFO of -$7.7 million in 2025Q4 highlights a persistent inability to generate self-sustaining cash flow.
| Cash from Operations | -7.27M | -2.6M | -4.57M | -2.32M | 3.79M |
| Operating CF Growth % | -179.49% | 43.1% | -97.33% | -161.07% | - |
| Operating CF / Revenue % | -88.42% | -1252.97% | - | - | - |
| Net Income | -15.96M | -8.91M | -4.2M | -2.44M | -485.75K |
| Depreciation & Amortization | 1.69M | 3.23K | 236 | 0 | 0 |
| Stock-Based Compensation | 177.01K | 2.17M | 0 | 0 | 0 |
| Other Non-Cash Items | 6.82M | 2.62M | 1.17M | 28.04K | -51.77K |
| Working Capital Changes | 0 | 1.52M | -1.54M | 100.05K | 4.33M |
| Cash from Investing | -3.53M | -718.55K | -59.61K | -1.4M | -7.82M |
| Acquisitions (Net) | 0 | 231.56K | -42.66K | 0 | 0 |
| Purchase of Investments | 0 | 0 | 0 | 0 | -3.6M |
| Sale of Investments | 0 | 0 | 0 | 0 | 0 |
| Other Investing | 95.89K | -43.45K | -3.54K | 0 | 0 |
| Cash from Financing | 10.21M | 3.61M | 4.63M | 3.71M | 4.03M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 |
| Common Dividends | 0 | 0 | 0 | 0 | 0 |
| Debt Issuance (Net) | 0 | 1000K | 1000K | 648.3K | 1000K |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 10.21M | -2.53M | 0 | 0 | 2.03M |
| Net Change in Cash | -173.7K | 292.97K | 2.52K | 720 | 0 |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 227.77K | 3.24K | 720 | 0 | 0 |
| Cash at End | 54.07K | 296.2K | 3.24K | 720 | 0 |
| Free Cash Flow | -10.89M | -3.8M | -4.58M | -3.71M | -429.79K |
| FCF Growth % | -186.55% | 17.09% | -23.45% | -763.96% | - |
| FCF / Revenue % | -132.49% | -1831.26% | - | - | - |
Liquidity and capital exhaustion
According to the reported financial data, SGD's FFO of -$4.3 million in 2025Q4 significantly trails its GAAP operating cash flow of -$6.8 million, suggesting that non-cash adjustments and working capital volatility are masking the true extent of the company's underlying cash burn during this development phase.
The wide variance between FFO and operating cash flow appears to indicate that the company's development activities are consuming cash at a rate that exceeds standard accounting depreciation add-backs. Investors should monitor whether this divergence persists as the company attempts to scale its modular construction projects.
Based on the provided quarterly figures, SGD consistently reports negative AFFO, reaching -$7.7 million in 2025Q4, which confirms that the company lacks any distributable cash flow and remains entirely dependent on external financing to fund its ongoing operations and technology-related capital expenditures.
The absence of positive AFFO suggests that the company is currently in a capital-intensive growth phase where internal cash generation is insufficient to cover even basic maintenance requirements. Any discussion of dividend capacity appears premature given the current trajectory of negative cash flow generation.
As reported in the financial statements, SGD's maintenance and development capital expenditures reached $3.4 million in 2025Q4, representing a substantial increase that highlights the heavy investment required to sustain the company's modular development pipeline and proprietary technology ecosystem during this period of expansion.
The significant uptick in capital spending suggests that the company is prioritizing asset creation over cash preservation. This level of investment warrants further investigation into the expected return on these projects, as the current cash burn rate appears unsustainable without additional capital injections.
Analysis of the company's financial filings reveals that GAAP Net Income of -$3.7 million in 2025Q4 is heavily distorted by non-cash items, yet even after adjusting for these to arrive at FFO, the company remains deeply cash-flow negative, indicating that depreciation is not the primary driver of the deficit.
The persistent gap between net income and FFO suggests that the company's losses are driven by actual operational cash outflows rather than accounting-based depreciation. This implies that the business model is currently structured to consume cash rather than generate it, regardless of how the financials are presented.
Quick answers to the most common questions about buying SGD stock.
Safe and Green Development Corporation (SGD) generated $-7.3M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Safe and Green Development Corporation (SGD) reported negative free cash flow of $10.9M in 2025, indicating capital requirements exceeded cash from operations.
Safe and Green Development Corporation (SGD) spent $3.6M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.