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GeoVax Labs cash flow, quarter by quarter

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

Free cash flow−$3.7M in Q2 2026 · −$18.4M over twelve months

Operating cash flow−$3.7M
Free cash flow−$3.7M

Analysis

In Q2 2026, GeoVax Labs generated −$3.7M of operating cash flow. That is $687K more than in Q2 2025 (−$4.3M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$18.4M; the largest uses were operating cash flow ($18.4M); besides operations, cash came from other financing ($18.4M); the cash balance rose by $50K.

Operating cash flow was −$3.7M against net income of −$4.4M. The largest differences: payables +$465K, stock-based pay +$164K, prepaid and other assets +$128K.

Free cash flow

GeoVax Labs: free cash flow by quarterGeoVax Labs: free cash flow by quarter−$9.3MQ3 2024−$7.8MQ4 2024−$6.0MQ1 2025−$4.3MQ2 2025−$6.2MQ3 2025−$5.0MQ4 2025−$3.5MQ1 2026−$3.7MQ2 2026
Operating cash flow less capital spending.
GeoVax Labs: operating cash flow against capital spendingGeoVax Labs: operating cash flow against capital spendingOperating cash flowCapital spending−$9.3M$21KQ3 2024−$7.8M$0Q4 2024−$6.0M$17KQ1 2025−$4.3M$11KQ2 2025−$6.2M$0Q3 2025−$5.0M$0Q4 2025−$3.5M$0Q1 2026−$3.7M$0Q2 2026
Latest (Q2 2026): Operating cash flow −$3.7M, Capital spending $0.

Capital allocation, year by year

GeoVax Labs: where the cash came from (up) and went (down), by fiscal yearGeoVax Labs: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingCapital spendingFY2021: Operating cash flow −$11.2MFY2021: Net borrowing −$28KFY2021: Capital spending −$48KFY2021FY2022: Operating cash flow −$19.0MFY2022: Capital spending −$134KFY2022FY2023: Operating cash flow −$25.2MFY2023: Capital spending −$49KFY2023FY2024: Operating cash flow −$24.7MFY2024: Net borrowing −$15KFY2024: Capital spending −$21KFY2024FY2025: Operating cash flow −$21.5MFY2025: Capital spending −$28KFY2025
Over these 5 years operating cash flow totalled −$102M; the largest uses were operating cash flow ($102M) and capital spending ($279K). Cash-flow statements as filed.

Where the cash came from and went

GeoVax Labs: sources (+) and uses (−) of cash, Q2 2026GeoVax Labs: sources (+) and uses (−) of cash, Q2 2026Other financing$5.5MOperating cash flow−$3.7MCash drawn (+) / kept (−)−$1.9M
GeoVax Labs: sources (+) and uses (−) of cash, TTM to Q2 2026GeoVax Labs: sources (+) and uses (−) of cash, TTM to Q2 2026Other financing$18.4MOperating cash flow−$18.4MCash drawn (+) / kept (−)−$50K

From profit to cash

GeoVax Labs: net income to operating cash flow, Q2 2026GeoVax Labs: net income to operating cash flow, Q2 2026Net income−$4.4MDepreciation & amortization$12KStock-based pay$164KPayables$465KPrepaid and other assets$128KOperating cash flow−$3.7M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingCash drawn (+) / kept (−)Free cash flow
Q2 2026−$3.7M—−$1.9M−$3.7M
Q1 2026−$3.5M—$1.8M−$3.5M
Q4 2025−$5.0M—$1.9M−$5.0M
Q3 2025−$6.2M—−$1.9M−$6.2M
Q2 2025−$4.3M−$11K$4.3M−$4.3M
Q1 2025−$6.0M−$17K−$1.9M−$6.0M
Q4 2024−$7.8M—$3.1M−$7.8M
Q3 2024−$9.3M−$21K−$7.0M−$9.3M

GeoVax Labs: income statement and cash flow

GeoVax Labs, Q2 2025: revenue $852K (+184% year over year), operating margin -635.8%. The chart follows the revenue to costs, profit and cash.

GeoVax Labs: 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.