Token Cat Ltd cash flow statement

In fiscal 2025, Token Cat Ltd's operations generated −$24.5m of cash; it spent $0 on capital projects, leaving free cash flow of −$24.5m.

Cash flow statement

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

Token Cat Ltd: cash flow statement, annual
Fiscal year	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash from operations	−8	−9	−8	−23	−13	−14	−16	−11	−5	−25
Depreciation and amortisation	0	0	0	1	0	1	0	—	—	—
Stock-based pay	0	0	12	16	3	2	2	1	4	3
Capital spending	0	0	3	2	0	0	0	—	0	0
Free cash flow	−8	−9	−11	−25	−13	−14	−16	—	−5	−25
Free cash flow after stock pay	−9	−9	−23	−41	−16	−16	−18	—	−9	−28
Share buybacks	—	—	—	2	—	—	—	—	—	—
Shares issued	—	—	—	—	—	—	14	—	1	23

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