Novonix Ltd cash flow statement

In fiscal 2025, Novonix Ltd's operations generated −$42.2m of cash; it spent $60.2m on capital projects, leaving free cash flow of −$102m.

Cash flow statement

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

Novonix Ltd: cash flow statement, annual
Fiscal year	2020Jun 2020	2021Jun 2021	2022Jun 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash from operations	−4	−6	−29	−36	−40	−42
Depreciation and amortisation	1	1	4	5	5	5
Stock-based pay	5	4	15	6	6	−1
Capital spending	4	19	84	19	30	60
Free cash flow	−7	−26	−113	−55	−70	−102
Free cash flow after stock pay	−12	−30	−128	−61	−76	−101

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 Novonix Ltd'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 Novonix Ltd.