Filing Flows

Filing Flows › Companies › Protalix BioTherapeutics › Cash flow

Protalix BioTherapeutics cash flow, quarter by quarter

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

Free cash flow−$11.0M in Q2 2026 · $7.7M over twelve months

Operating cash flow−$10.4M
Capital spending−$593K
Free cash flow−$11.0M
Cash / net income-2.8×
Cash conversion cycle349 days

Analysis

In Q2 2026, Protalix BioTherapeutics generated −$10.4M of operating cash flow and spent $593K on capital projects, leaving free cash flow of −$11.0M. That is $5.3M less than in Q2 2025 (−$5.7M).

Over the twelve months to Jun 30, 2026, operating cash flow was $9.9M; the largest uses were capital spending ($2.3M); besides operations, cash came from other investing ($1.2M), other financing ($296K); the cash balance rose by $9.5M.

Operating cash flow was −$10.4M against net income of $3.8M — -2.8× profit, less cash than reported earnings, worth checking against working capital. The largest differences: receivables −$15.0M, payables +$3.4M, inventory −$1.8M.

Its cash conversion cycle was 349 days (receivables 44 + inventory 368 − payables 63).

Free cash flow

Protalix BioTherapeutics: free cash flow by quarterProtalix BioTherapeutics: free cash flow by quarter$4.0MQ3 2024$3.6MQ4 2024−$5.4MQ1 2025−$5.7MQ2 2025−$4.2MQ3 2025$1.6MQ4 2025$21.3MQ1 2026−$11.0MQ2 2026
Operating cash flow less capital spending.
Protalix BioTherapeutics: operating cash flow against capital spendingProtalix BioTherapeutics: operating cash flow against capital spendingOperating cash flowCapital spending$4.1M$87KQ3 2024$4.0M$425KQ4 2024−$5.1M$306KQ1 2025−$5.2M$431KQ2 2025−$3.7M$498KQ3 2025$2.0M$403KQ4 2025$22.0M$761KQ1 2026−$10.4M$593KQ2 2026
Latest (Q2 2026): Operating cash flow −$10.4M, Capital spending $593K.

Capital allocation, year by year

Protalix BioTherapeutics: where the cash came from (up) and went (down), by fiscal yearProtalix BioTherapeutics: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingFY2021: Operating cash flow −$10.3MFY2021: Net borrowing −$30.0MFY2021: Shares issued $8.6MFY2021: Asset sales $53KFY2021: Capital spending −$1.5M$8.6MFY2021FY2022: Operating cash flow −$25.0MFY2022: Shares issued $8.2MFY2022: Capital spending −$628K$8.2MFY2022FY2023: Operating cash flow −$1.3MFY2023: Shares issued $24.0MFY2023: Capital spending −$1.1M$24.0MFY2023FY2024: Operating cash flow $8.7MFY2024: Net borrowing −$20.4MFY2024: Shares issued $3.6MFY2024: Asset sales $3KFY2024: Capital spending −$1.3M$12.3MFY2024FY2025: Operating cash flow −$12.0MFY2025: Shares issued $6.8MFY2025: Capital spending −$1.6M$6.8MFY2025
Over these 5 years operating cash flow totalled −$39.9M; the largest uses were net borrowing ($50.5M) and operating cash flow ($48.6M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$27.4M
Debtnone
Net cash$27.4M
Cash runway7 months

Protalix BioTherapeutics is burning cash: its operations consume cash, a free cash flow of −$44.0M a year at the current rate against $27.4M of cash and investments: a runway of about 7 months before any new financing.

Where the cash came from and went

Protalix BioTherapeutics: sources (+) and uses (−) of cash, Q2 2026Protalix BioTherapeutics: sources (+) and uses (−) of cash, Q2 2026Cash drawn (+) / kept (−)$13.6MOperating cash flow−$10.4MOther investing−$3.0MCapital spending−$593KExchange rates$454K
Protalix BioTherapeutics: sources (+) and uses (−) of cash, TTM to Q2 2026Protalix BioTherapeutics: sources (+) and uses (−) of cash, TTM to Q2 2026Operating cash flow$9.9MCash drawn (+) / kept (−)−$9.5MCapital spending−$2.3MOther investing$1.2MExchange rates$334KOther financing$296K

From profit to cash

Protalix BioTherapeutics: net income to operating cash flow, Q2 2026Protalix BioTherapeutics: net income to operating cash flow, Q2 2026Net income$3.8MDepreciation & amortization$406KStock-based pay$398KDeferred taxes$71KReceivables−$15.0MInventory−$1.8MPayables$3.4MOperating cash flow−$10.4M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 20264436863349
Q1 202616613104524
Q4 2025117468106479
Q3 20256223467229
Q2 20254131584272
Q1 20253422448210
Q4 20241345591377
Q3 20243220821426

Every quarter

QuarterOperating cash flowCapital spendingShares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$10.4M−$593K—$13.6M−$11.0M
Q1 2026$22.0M−$761K—−$26.3M$21.3M
Q4 2025$2.0M−$403K—−$1.0M$1.6M
Q3 2025−$3.7M−$498K—$4.2M−$4.2M
Q2 2025−$5.2M−$431K$4.0M$1.6M−$5.7M
Q1 2025−$5.1M−$306K$2.9M$302K−$5.4M
Q4 2024$4.0M−$425K—$7.6M$3.6M
Q3 2024$4.1M−$87K—−$4.0M$4.0M

Protalix BioTherapeutics: income statement and cash flow

Protalix BioTherapeutics, Q2 2026: revenue $19.9M (+27% year over year), operating margin 23.5%. The chart follows the revenue to costs, profit and cash.

Protalix BioTherapeutics: 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.