Picard Medical (PMI) Cash Flow: Operating & Free Cash Flow

Picard Medical 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 Picard Medical, Inc. (PMI) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022
Operating Activities
Net Income	-27.00	-21.06	-15.57	-11.17
Depreciation & Amortization	0.16	0.54	0.59	0.55
Stock Based Compensation	0.75	0.89	0.13	0.15
Change in Working Capital	-3.20	0.96	3.28	-1.93
Change in Accounts Receivable	-0.12	0.12	0.25	0.21
Change in Inventory	0.39	-1.33	-0.45	-1.59
Change in Accounts Payable	-3.21	2.21	1.61	0.11
Change in Other Working Capital	-0.62	2.39	1.87	-0.39
Other Operating Activities	13.61	2.39	0.94	1.68
Net Cash from Operating Activities	-15.67	-11.87	-10.63	-10.72
Investing Activities
Capital Expenditures	0.00	0.00	-0.01	-0.03
Other Investing Activities	0.00	0.00	0.00	-0.01
Net Cash from Investing Activities	0.00	0.00	-0.01	-0.04
Financing Activities
Debt Repayment	-8.29	-1.38	8.19	-0.03
Common Stock Issued	17.44	0.00	0.00	0.00
Other Financing Activities	-1.49	0.00	2.65	-0.03
Net Cash from Financing Activities	27.08	11.74	10.84	5.52
Summary
Effect of Forex Changes on Cash	-0.05	-0.02	-0.11	0.13
Net Change in Cash	11.36	-0.15	0.09	-5.10
Cash at Beginning of Period	0.10	0.24	0.15	5.25
Cash at End of Period	11.45	0.10	0.24	0.15
Free Cash Flow	-15.67	-11.87	-10.64	-10.75
Supplemental Disclosures
Interest Paid	-	0.00	0.00	0.00
Income Taxes Paid	-	-	0.00	0.00

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

Frequently Asked Questions About Picard Medical Cash Flow

What is Picard Medical's free cash flow?

Picard Medical had negative free cash flow of $15.67M in fiscal 2025 (fiscal year ended Dec 31, 2025).

Does Picard Medical pay dividends or buy back shares?

Picard Medical'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