Belite Bio (BLTE) Cash Flow: Operating & Free Cash Flow

Belite Bio Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Belite Bio, Inc (BLTE) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2022	FY 2021	FY 2020
Period ending	Dec 2025	Dec 2024	Dec 2023	Mar 2023	Dec 2022	Dec 2021	Dec 2020
Operating Activities
Net Income	-77.61	-36.14	-31.63	-12.65	-12.65	-9.67	-5.75
Depreciation & Amortization	0.18	0.45	0.14	0.20	0.20	0.03	0.02
Deferred Income Tax	0.00	0.00	-4.69	-1.91	-	0.00	-1.39
Stock Based Compensation	38.92	8.99	3.82	1.48	1.48	1.53	1.36
Change in Working Capital	2.55	1.13	-2.43	-0.49	-0.49	0.64	-0.07
Change in Accounts Receivable	-0.07	0.07	-0.06	-0.03	-0.03	0.00	0.00
Change in Accounts Payable	-0.01	0.01	0.00	0.00	-0.04	0.00	-0.02
Change in Other Working Capital	-1.23	-3.61	-3.79	-0.46	-0.86	0.64	-0.05
Other Operating Activities	-1.03	-3.61	0.26	1.91	0.13	-0.01	1.39
Net Cash from Operating Activities	-36.99	-29.23	-29.84	-11.46	-11.46	-7.47	-4.44
Investing Activities
Capital Expenditures	-0.18	-0.15	-0.06	-0.39	-0.39	-0.07	-0.02
Acquisitions	0.00	0.00	0.00	0.00	-	0.02	0.00
Purchases of Investments	-451.99	-188.27	0.00	0.00	-	0.00	0.00
Sales/Maturities of Investments	147.07	77.84	0.00	0.00	-	0.00	0.00
Other Investing Activities	0.00	-0.04	0.00	0.00	-	0.00	0.00
Net Cash from Investing Activities	-305.11	-110.57	-0.06	-0.39	-0.39	-0.06	-0.02
Financing Activities
Debt Repayment	0.00	0.00	0.00	0.00	-	0.00	-2.45
Common Stock Issued	671.21	42.24	77.19	37.99	37.99	-0.58	0.59
Other Financing Activities	523.42	-0.37	-1.23	-1.03	-1.03	0.00	29.88
Net Cash from Financing Activities	663.23	83.60	75.96	36.96	36.96	-0.58	28.06
Summary
Effect of Forex Changes on Cash	0.12	-0.27	0.01	-0.37	-0.37	-0.16	0.00
Net Change in Cash	321.26	-56.48	46.07	24.75	24.75	-8.27	23.60
Cash at Beginning of Period	31.68	88.16	42.09	17.34	17.34	25.62	2.02
Cash at End of Period	352.93	31.68	88.16	42.09	42.09	17.34	25.62
Free Cash Flow	-37.17	-29.39	-29.90	-11.85	-11.85	-7.55	-4.46
Supplemental Disclosures
Interest Paid	0.00	-	-	-	0.02	-	0.02
Income Taxes Paid	-	0.01	0.01	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Belite Bio Cash Flow

What is Belite Bio's free cash flow?

Belite Bio had negative free cash flow of $37.17M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of −$36.99M minus $178.00K of capital expenditures.

How much does Belite Bio spend on capital expenditures?

Belite Bio spent $178.00K on capital expenditures in fiscal 2025, compared with $151.00K a year earlier.

Does Belite Bio pay dividends or buy back shares?

Belite Bio's cash flow statement for fiscal 2025 shows no dividend payments or share repurchases.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition