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Vistagen Therapeutics cash flow, quarter by quarter

Latest: Q1 FY27 · from the cash-flow statements filed with the SEC

Free cash flow−$14.7M in Q1 FY27 · −$62.3M over twelve months

Operating cash flow−$14.7M
Free cash flow−$14.7M

Analysis

In Q1 FY27, Vistagen Therapeutics generated −$14.7M of operating cash flow. That is $4.1M more than in Q1 FY26 (−$18.8M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$62.3M; the largest uses were operating cash flow ($62.3M), net borrowing (+) / repaid (−) ($931K), other investing ($89K); besides operations, cash came from other financing ($31.3M); the cash balance fell by $32.0M.

Operating cash flow was −$14.7M against net income of −$13.0M. The largest differences: deferred revenue −$1.5M, prepaid and other assets −$1.1M, stock-based pay +$991K.

Free cash flow

Vistagen Therapeutics: free cash flow by quarterVistagen Therapeutics: free cash flow by quarter−$10.9MQ2 FY25−$10.3MQ3 FY25−$10.1MQ4 FY25−$18.8MQ1 FY26−$13.8MQ2 FY26−$17.6MQ3 FY26−$16.2MQ4 FY26−$14.7MQ1 FY27
Operating cash flow less capital spending.
Vistagen Therapeutics: operating cash flow against capital spendingVistagen Therapeutics: operating cash flow against capital spendingOperating cash flowCapital spending−$10.9M$0Q2 FY25−$10.3M$0Q3 FY25−$10.1M$0Q4 FY25−$18.8M$0Q1 FY26−$13.8M$0Q2 FY26−$17.6M$0Q3 FY26−$16.2M$0Q4 FY26−$14.7M$0Q1 FY27
Latest (Q1 FY27): Operating cash flow −$14.7M, Capital spending $0.

Capital allocation, year by year

Vistagen Therapeutics: where the cash came from (up) and went (down), by fiscal yearVistagen Therapeutics: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingFY22: Operating cash flow −$45.3MFY22: Net borrowing −$3KFY22: Capital spending −$200KFY22FY23: Operating cash flow −$49.7MFY23: Net borrowing −$1.0MFY23: Capital spending −$528KFY23FY24: Operating cash flow −$25.8MFY24: Net borrowing −$985KFY24: Shares issued $93.5M$93.5MFY24FY25: Operating cash flow −$42.1MFY25FY26: Operating cash flow −$66.4MFY26: Net borrowing $95KFY26: Shares issued $8K$103KFY26
Over these 5 years operating cash flow totalled −$229M; the largest uses were operating cash flow ($229M) and net borrowing ($2.0M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$31.7M
Debtnone
Net cash$31.7M
Cash runway6 months

Vistagen Therapeutics is burning cash: its operations consume cash, a free cash flow of −$62.3M a year at the current rate against $31.7M of cash and investments: a runway of about 6 months before any new financing.

Where the cash came from and went

Vistagen Therapeutics: sources (+) and uses (−) of cash, Q1 FY27Vistagen Therapeutics: sources (+) and uses (−) of cash, Q1 FY27Operating cash flow−$14.7MCash drawn (+) / kept (−)$13.8MShares issued$1.0MNet borrowing (+) / repaid (−)−$96KOther financing$3K
Vistagen Therapeutics: sources (+) and uses (−) of cash, TTM to Q1 FY27Vistagen Therapeutics: sources (+) and uses (−) of cash, TTM to Q1 FY27Operating cash flow−$62.3MCash drawn (+) / kept (−)$32.0MOther financing$31.3MNet borrowing (+) / repaid (−)−$931KOther investing−$89K

From profit to cash

Vistagen Therapeutics: net income to operating cash flow, Q1 FY27Vistagen Therapeutics: net income to operating cash flow, Q1 FY27Net income−$13.0MDepreciation & amortization$52KStock-based pay$991KPayables−$53KDeferred revenue−$1.5MPrepaid and other assets−$1.1MOperating cash flow−$14.7M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q1 FY27−$14.7M−$96K$1.0M$13.8M−$14.7M
Q4 FY26−$16.2M−$283K—$16.6M−$16.2M
Q3 FY26−$17.6M−$278K$2.4M$15.4M−$17.6M
Q2 FY26−$13.8M−$274K$27.9M−$13.8M−$13.8M
Q1 FY26−$18.8M$930K$558K$18.1M−$18.8M
Q4 FY25−$10.1M——$7.6M−$10.1M
Q3 FY25−$10.3M—$1.2M$9.5M−$10.3M
Q2 FY25−$10.9M——$18.7M−$10.9M

Vistagen Therapeutics: income statement and cash flow

Vistagen Therapeutics, Q1 FY27: revenue $1.5M (+505% year over year), operating margin -904.3%. The chart follows the revenue to costs, profit and cash.

Vistagen Therapeutics: 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.