AARD: the cash flow

MyFinsight

For the year ending 2025-12-31, AARD had -$14,590K decrease in cash & cash equivalents over the period. -$54,267K in free cash flow.

Cash Flow	2025-12-31
Net loss	-57,591
Credit loss - related party accounts receivable	0
Stock-based compensation expense	3,948
Non-cash lease expense	380
Unrealized loss on short-term investments	-5
Amortization of discount on short-term investments	1,306
Depreciation expense	36
Prepaid expenses and other assets	5,960
Accounts payable	239
Accrued liabilities	6,415
Operating lease liability	-338
Net cash used in operating activities	-54,172
Purchases of short-term investments	129,599
Maturities/sales of short-term investments	80,027
Purchases of property and equipment	95
Net cash used in investing activities	-49,667
Proceeds from sale and issuance of common stock in initial public offering, net of underwriting discounts	91,075
Financing costs paid in connection with initial public offering	2,387
Proceeds from sale and issuance of series c convertible preferred stock	0
Financing costs paid in connection with issuance of series c convertible preferred stock	0
Proceeds from exercises of common stock options	366
Proceeds from issuance of common stock under employee stock purchase plan	195
Costs paid in connection with deferred financing costs	0
Net cash provided by financing activities	89,249
Net (decrease) increase in cash and cash equivalents	-14,590
Cash and cash equivalents at beginning of year	61,641
Cash and cash equivalents at end of year	47,051

Unit: Thousand (K) dollars (except for numbers of shares and EPS).