Tonix Pharmaceuticals Holding Corp. cash flow statement

In fiscal 2025, Tonix Pharmaceuticals Holding Corp.'s operations generated −$99.8m of cash; it spent $3.4m on capital projects, leaving free cash flow of −$103m. It returned $13.8m through buybacks.

Cash flow statement

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

Tonix Pharmaceuticals Holding Corp.: cash flow statement, annual
Fiscal year	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Cash from operations	−102	−61	−100	−153
Depreciation and amortisation	4	3	2	2
Stock-based pay	9	5	6	8
Capital spending	8	0	3	5
Free cash flow	−110	−61	−103	−158
Free cash flow after stock pay	−119	−66	−109	−166
Share buybacks	14	—	14	—
Shares issued	19	140	238	215

US$ millions unless shown otherwise. Fiscal quarters.

Tonix Pharmaceuticals Holding Corp.: cash flow statement, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Cash from operations	−19	−15	−17	−15	−29	−40	−42	−42
Depreciation and amortisation	1	0	0	1	0	0	1	1
Stock-based pay	1	1	1	1	2	2	2	2
Capital spending	0	0	0	1	1	2	2	1
Free cash flow	−19	−15	−17	−15	−30	−42	−44	−43
Free cash flow after stock pay	−20	−16	−17	−17	−32	−43	−46	−45
Shares issued	44	86	62	14	95	67	20	33

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 Tonix Pharmaceuticals Holding Corp.'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 Tonix Pharmaceuticals Holding Corp.