Eton Pharmaceuticals, Inc.
For the period ended Dec 31, 2025. Filed Mar 19, 2026.
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FY2025 · Filed Mar 19, 2026
ETON$64.35+14.0%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Statements of Cash Flows
(In thousands)
| For the years ended | |||
|---|---|---|---|
| December 31, | December 31, | December 31, | |
| 2025 | 2024 | 2023 | |
| Cash flows from (used in) operating activities | |||
| Net loss | $(4,601) | $(3,823) | $(936) |
| Adjustments to reconcile net loss to net cash from (used in) operating activities: | |||
| Stock-based compensation | 5,512 | 3,165 | 3,137 |
| Depreciation and amortization | 4,044 | 1,146 | 901 |
| Inventory step-up | 5,094 | — | — |
| Excess and obsolete inventory reserve | 594 | 529 | 15 |
| Debt discount amortization | 696 | 1,109 | 117 |
| Non-cash lease expense | 44 | 70 | 67 |
| Changes in operating assets and liabilities, net of impact of business acquisition: | |||
| Accounts receivable | (6,396) | (3,118) | (1,559) |
| Inventories | (5,876) | (1,839) | (369) |
| Prepaid expenses and other assets | (1,971) | (3,349) | 94 |
| Accounts payable | 6,808 | 2,318 | 53 |
| Accrued Medicaid rebates | 2,451 | 3,239 | 2,818 |
| Accrued liabilities | 1,011 | 1,484 | 2,477 |
| Other non-current assets and liabilities | 3,114 | 38 | — |
| Net cash from (used in) operating activities | 10,524 | 969 | 6,815 |
| Cash from (used in) investing activities | |||
| Purchases of property and equipment | (333) | (26) | — |
| Acquisition of business | — | (30,000) | — |
| Purchase of product licensing rights | — | (9,988) | (775) |
| Net cash from (used in) investing activities | (333) | (40,014) | (775) |
| Cash flows from (used in) financing activities | |||
| Net proceeds from the issuance of long-term debt | — | 25,309 | — |
| Repayment of long-term debt | — | (1,155) | (1,155) |
| Common stock issued in private placement offering | — | 7,000 | — |
| Proceeds from stock option exercises | 598 | 1,191 | 149 |
| Payment of tax withholding related to net share settlement of stock option exercises | — | — | (180) |
| Employee stock purchase plan | 217 | 248 | 229 |
| Net cash from (used in) financing activities | 815 | 32,593 | (957) |
| Change in cash and cash equivalents | 11,006 | (6,452) | 5,083 |
| Cash and cash equivalents at beginning of year | 14,936 | 21,388 | 16,305 |
| Cash and cash equivalents at end of year | $25,942 | $14,936 | $21,388 |
| Supplemental disclosures of cash flow information | |||
| Cash paid for interest | $3,325 | $665 | $842 |
| Cash paid for income taxes | $118 | $82 | $247 |
| Supplemental disclosures of non-cash investing and financing activities: | |||
| Debt issuance costs | $— | $386 | $— |
| Fair value of warrants issued in connection with debt agreement | $— | $1,170 | $— |
| Adjustment of operating lease right-of-use assets and liabilities due to tenant allowance | $— | $— | $29 |
| Right-of-use assets obtained in exchange for lease liabilities | $333 | $219 | $— |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.