For the quarter ending 2026-03-31, ORKA had $2,585K increase in cash & cash equivalents over the period. -$23,651K in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Non-cash interest expense | - | - | - | 0 |
| Non-cash lease expense | - | - | 132 | 187 |
| Net loss | -31,820 | -29,583 | -30,277 | -45,573 |
| Stock-based compensation expense | 6,968 | 4,115 | 10,165 | 9,960 |
| Net accretion of premiums and discounts on marketable securities | 446 | 663 | 1,040 | 3,300 |
| Non-cash lease expense | 143 | 458 | - | - |
| Depreciation expense | 43 | 28 | 20 | 35 |
| Prepaid expenses and other current assets | -461 | 805 | 2,402 | 765 |
| Subscription receivable | - | - | - | 0 |
| Other non-current assets | - | 0 | 0 | 60 |
| Accrued interest payable, related party | - | - | - | 0 |
| Accounts payable | -493 | 1,947 | -2,456 | 1,202 |
| Accrued expenses and other current liabilities | -1,304 | 2,207 | 4,806 | 232 |
| Operating lease liability | -125 | 20 | -439 | -29 |
| Related party accounts payable and other current liabilities | 2,995 | 1 | -111 | -5,903 |
| Net cash used in operating activities | -23,578 | -22,594 | -21,602 | -44,014 |
| Purchases of property and equipment | 73 | 63 | 99 | 47 |
| Purchases of marketable securities | 90,834 | 100,987 | 267,683 | 152,289 |
| Proceeds from maturities of marketable securities | 76,470 | 79,028 | 145,333 | 200,062 |
| Net cash (used in) provided by investing activities | -14,437 | -22,022 | -122,449 | 47,726 |
| Proceeds from issuance of notes payable to related party, net of issuance costs paid | - | - | - | 0 |
| Proceeds from issuance of pre-merger oruka series a preferred stock, net of issuance costs paid | - | - | - | 0 |
| Proceeds from the pipe financings, net | - | -264 | 169,908 | - |
| Proceeds from issuance of common stock upon exercise of stock options and employee warrants | 1,698 | 562 | 0 | 109 |
| Payment of deferred offering costs | - | - | - | 0 |
| Proceeds from at-the-market offering, net of commissions | 38,902 | - | - | - |
| Net cash provided by financing activities | 40,600 | 298 | 169,908 | 109 |
| Net increase in cash and cash equivalents | 2,585 | -44,318 | 25,857 | 3,821 |
| Cash and cash equivalents at beginning of period | 46,935 | 91,253 | 61,575 | - |
| Cash and cash equivalents at end of period | 49,520 | 46,935 | 91,253 | - |