Borealis Foods Inc. cash flow statement

In fiscal 2025, Borealis Foods Inc.'s operations generated −$6.6m of cash; it spent $0 on capital projects, leaving free cash flow of −$6.6m.

Cash flow statement

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

Borealis Foods Inc.: cash flow statement, annual
Fiscal year	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMMar 2026
Cash from operations	−18	−15	−7	−5
Depreciation and amortisation	4	2	2	3
Stock-based pay	0	1	1	—
Capital spending	4	2	0	0
Free cash flow	−22	−17	−7	−5
Free cash flow after stock pay	−23	−18	−8	—
Share buybacks	159	—	—	—

US$ thousands unless shown otherwise. Fiscal quarters.

Borealis Foods Inc.: cash flow statement, quarterly
Quarter	2024 Q2Jun 2024	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026
Cash from operations	−4,234	−3,267	−819	−1,373	−2,197	−191	−2,839	−123
Depreciation and amortisation	395	1,861	463	481	473	1,408	433	386
Stock-based pay	0	1,273	0	58	0	0	957	—
Capital spending	514	454	132	16	—	0	0	0
Free cash flow	−4,748	−3,721	−952	−1,389	—	−191	−2,839	−123
Free cash flow after stock pay	−4,748	−4,994	−952	−1,447	—	−191	−3,796	—

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.

Compare with peers

Head to head: BRLS vs DDC BRLS vs RMCF BRFH vs BRLS

More: Packaged Foods & Meats stocks compared, Consumer Staples sector, rankings of US companies

Figures from Borealis Foods Inc.'s SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Borealis Foods Inc.