Bullfrog AI Holdings, Inc. cash flow statement

In fiscal 2025, Bullfrog AI Holdings, Inc.'s operations generated −$5.5m of cash; it spent $0 on capital projects, leaving free cash flow of −$5.5m.

Cash flow statement

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Bullfrog AI Holdings, Inc.: cash flow statement, annual
Fiscal year	2022Dec 2022	2023Dec 2023	2025Dec 2025
Cash from operations	−911	−6,001	−5,522
Depreciation and amortisation	1	2	2
Stock-based pay	340	632	1,011
Capital spending	9	0	0
Free cash flow	−920	−6,001	−5,522
Free cash flow after stock pay	−1,260	−6,633	−6,533
Shares issued	—	7,294	2,468

US$ thousands unless shown otherwise. Fiscal quarters.

Bullfrog AI Holdings, Inc.: cash flow statement, quarterly
Quarter	2023 Q3Sept 2023	2023 Q4Dec 2023	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q2Jun 2026
Cash from operations	−1,394	−1,018	−1,432	−1,107	−1,185	−1,513
Depreciation and amortisation	0	0	0	0	0	0
Stock-based pay	116	120	178	145	154	1
Capital spending	0	0	0	0	0	0
Free cash flow	−1,394	−1,018	−1,432	−1,107	−1,185	−1,513
Free cash flow after stock pay	−1,510	−1,138	−1,610	−1,253	−1,339	−1,514
Shares issued	0	0	—	679	1,526	3,395

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Bullfrog AI Holdings, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Bullfrog AI Holdings, Inc.