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Fennec Pharmaceuticals cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow$50K in Q2 2026 · −$2.0M over twelve months

Operating cash flow$50K
Free cash flow+$50K
Cash / net income0.0×

Analysis

In Q2 2026, Fennec Pharmaceuticals generated $50K of operating cash flow. That is $3.7M more than in Q2 2025 (−$3.7M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$2.0M; the largest uses were operating cash flow ($2.0M), taxes on employees’ shares ($1.3M); besides operations, cash came from other financing ($20.6M), shares issued ($5.3M); the cash balance rose by $22.5M.

Operating cash flow was $50K against net income of $2.0M — 0.0× profit, less cash than reported earnings, worth checking against working capital. The largest differences: receivables −$4.2M, stock-based pay +$1.8M, payables −$765K.

Free cash flow

Fennec Pharmaceuticals: free cash flow by quarterFennec Pharmaceuticals: free cash flow by quarter−$2.2MQ3 2024−$1.5MQ4 2024−$4.3MQ1 2025−$3.7MQ2 2025$1.5MQ3 2025−$6.0MQ4 2025$2.4MQ1 2026$50KQ2 2026
Operating cash flow less capital spending.
Fennec Pharmaceuticals: operating cash flow against capital spendingFennec Pharmaceuticals: operating cash flow against capital spendingOperating cash flowCapital spending−$2.2M$0Q3 2024−$1.5M$0Q4 2024−$4.3M$0Q1 2025−$3.7M$0Q2 2025$1.5M$0Q3 2025−$6.0M$0Q4 2025$2.4M$0Q1 2026$50K$0Q2 2026
Latest (Q2 2026): Operating cash flow $50K, Capital spending $0.

Capital allocation, year by year

Fennec Pharmaceuticals: where the cash came from (up) and went (down), by fiscal yearFennec Pharmaceuticals: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedFY2021: Operating cash flow −$14.2MFY2021: Net borrowing $5.0MFY2021: Shares issued $33K$5.0MFY2021FY2022: Operating cash flow −$18.1MFY2022: Net borrowing $19.9MFY2022: Shares issued $928K$20.9MFY2022FY2023: Operating cash flow −$17.1MFY2023: Net borrowing $5.0MFY2023: Shares issued $1.7M$6.7MFY2023FY2024: Operating cash flow $27.0MFY2024: Net borrowing −$13.0MFY2024: Shares issued $1.3M$28.3MFY2024FY2025: Operating cash flow −$12.5MFY2025: Net borrowing −$19.5MFY2025: Shares issued $2.2M$2.2MFY2025
Over these 5 years operating cash flow totalled −$34.9M; the largest uses were operating cash flow ($61.9M) and net borrowing ($32.5M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$41.2M
Debt$19.4M
Net cash$21.9M
Cash runwaymore than 10 years

Fennec Pharmaceuticals is burning cash: its operations consume cash, a free cash flow of −$2.0M a year at the current rate against $41.2M of cash and investments: a runway of more than ten years at that rate before any new financing.

Where the cash came from and went

Fennec Pharmaceuticals: sources (+) and uses (−) of cash, Q2 2026Fennec Pharmaceuticals: sources (+) and uses (−) of cash, Q2 2026Shares issued$2.0MCash drawn (+) / kept (−)−$1.1MTaxes on employees’ shares−$941KOperating cash flow$50K
Fennec Pharmaceuticals: sources (+) and uses (−) of cash, TTM to Q2 2026Fennec Pharmaceuticals: sources (+) and uses (−) of cash, TTM to Q2 2026Cash drawn (+) / kept (−)−$22.5MOther financing$20.6MShares issued$5.3MOperating cash flow−$2.0MTaxes on employees’ shares−$1.3M

From profit to cash

Fennec Pharmaceuticals: net income to operating cash flow, Q2 2026Fennec Pharmaceuticals: net income to operating cash flow, Q2 2026Net income$2.0MStock-based pay$1.8MReceivables−$4.2MInventory−$518KPayables−$765KAccrued liabilities$639KPrepaid and other assets$646KOperating cash flow$50K
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowShares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026$50K$2.0M−$1.1M$50K
Q1 2026$2.4M$1.3M−$3.4M$2.4M
Q4 2025−$6.0M$205K−$14.8M−$6.0M
Q3 2025$1.5M$1.8M−$3.2M$1.5M
Q2 2025−$3.7M−$185K$4.0M−$3.7M
Q1 2025−$4.3M$371K$4.0M−$4.3M
Q4 2024−$1.5M$797K$13.7M−$1.5M
Q3 2024−$2.2M−$470K$2.7M−$2.2M

Fennec Pharmaceuticals: income statement and cash flow

Fennec Pharmaceuticals, Q2 2026: revenue $17.9M (+85% year over year), operating margin 9.7%. The chart follows the revenue to costs, profit and cash.

Fennec Pharmaceuticals: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.