Nano Labs Ltd cash flow statement

In fiscal 2025, Nano Labs Ltd's operations generated −$15.1m of cash; it spent $6,440 on capital projects, leaving free cash flow of −$15.1m. It returned $231,939 through buybacks.

Cash flow statement

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

Nano Labs Ltd: cash flow statement, annual
Fiscal year	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash from operations	−0	11	−41	−19	−19	−15
Depreciation and amortisation	0	0	1	1	1	2
Stock-based pay	0	0	1	0	0	0
Capital spending	0	1	3	15	5	0
Free cash flow	−1	10	−44	−34	−24	−15
Free cash flow after stock pay	−1	10	−45	−34	−24	−15
Share buybacks	—	—	—	—	—	0
Shares issued	0	31	21	10	44	50

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 Nano Labs Ltd's SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Nano Labs Ltd.