First Tracks Biotherapeutics (TRAX) Cash Flow Statement

In fiscal 2025 (fiscal year ended Dec 31, 2025), First Tracks Biotherapeutics used $142.93M of cash in operating activities and spent $87.00K on capital expenditures. That left free cash flow of −$143.01M.

First Tracks Biotherapeutics 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 First Tracks Biotherapeutics, Inc. (TRAX) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023
Period ending	Dec 2025	Dec 2024	Dec 2023
Operating Activities
Net Income	-166.09	-163.71	-106.15
Depreciation & Amortization	2.42	2.40	2.38
Stock Based Compensation	32.30	26.83	18.39
Change in Working Capital	-1.52	18.99	2.90
Change in Accounts Payable	0.00	17.81	8.39
Change in Other Working Capital	-1.52	1.18	-5.49
Other Operating Activities	-10.04	-10.31	-10.52
Net Cash from Operating Activities	-142.93	-125.81	-93.00
Investing Activities
Capital Expenditures	-0.09	-0.36	-0.81
Purchases of Investments	0.00	-380.38	-303.92
Sales/Maturities of Investments	0.00	476.13	449.48
Other Investing Activities	228.12	0.00	0.00
Net Cash from Investing Activities	228.03	95.40	144.75
Financing Activities
Common Stock Issued	0.00	117.52	0.00
Other Financing Activities	30.01	0.00	0.00
Net Cash from Financing Activities	30.01	117.52	-87.09
Summary
Net Change in Cash	115.12	87.12	-35.34
Cash at Beginning of Period	123.08	35.97	71.31
Cash at End of Period	238.20	123.08	35.97
Free Cash Flow	-143.01	-126.16	-93.81

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

Frequently Asked Questions About First Tracks Biotherapeutics Cash Flow

What is First Tracks Biotherapeutics's free cash flow?

First Tracks Biotherapeutics had negative free cash flow of $143.01M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of −$142.93M minus $87.00K of capital expenditures.

How much does First Tracks Biotherapeutics spend on capital expenditures?

First Tracks Biotherapeutics spent $87.00K on capital expenditures in fiscal 2025, compared with $358.00K a year earlier.

Does First Tracks Biotherapeutics pay dividends or buy back shares?

First Tracks Biotherapeutics'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