X4 Pharmaceuticals, Inc.

XFORNASDAQHealthcare● Active

$3.71

$-0.12(-3.13%)

Market Cap$349926072

P/E Ratio—

52W High$4.83

52W Low$1.35

Avg Volume423K

Open$3.91

Beta0.37

Free Cash Flow Financials Revenue

X4 Pharmaceuticals, Inc. (XFOR) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

XFOR · free cash flow · updated Jun 9, 2026

Core FCF metrics

XFOR · FCF · TTM · margin & CAGR

Free cash flow was −$88.6M for FY2025 (fiscal year ending 2025-12-31), up 35.9% year-over-year The FCF margin was -252.4%.

FY2025 Free Cash Flow−$88.6M▲ +35.9% YoY

Trailing 12M (TTM)−$73.3Mtrailing 4 quarters sum

FCF Margin-252.4%−$88.6M ÷ revenue

3-Year CAGRN/AN/A — contains negative FCF

5-Year CAGRN/AN/A — contains negative FCF

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 9, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

XFOR · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest−$85.6M(3M)−$88.6M▲ +35.9%-252.4%

FY2024−$130.9M(7M)−$138.2M▼ 43.1%—

FY2023−$96.5M(0M)−$96.6M▼ 25.1%—

FY2022−$77.1M(0M)−$77.2M▼ 7.9%—

FY2021−$70.9M(1M)−$71.5M▼ 18.8%—

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

XFOR · P/FCF · FCF yield · FCF per share

X4 Pharmaceuticals, Inc. (XFOR) reported negative free cash flow of −$0.09B. FCF-based valuation ratios are not meaningful when FCF is negative.

FCF Yield (TTM)

N/A

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

N/A

TTM FCF ÷ Shares Outstanding

Price / FCF

N/A

Share Price ÷ FCF per Share

EV / FCF (TTM)

N/A

Enterprise Value basis

FCF-based valuation ratios are only meaningful when free cash flow is positive. Negative FCF indicates capital expenditures exceeded operating cash flow.

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

XFOR · cash flow statement · operating / investing / financing

For FY2025, X4 Pharmaceuticals, Inc. generated −$85.6M in operating cash flow and spent 3M in capital expenditures, yielding −$88.6M in free cash flow.

Operating Activities

−$85.6M

Cash from core business operations

2025-12-31

Investing Activities

+$8.2M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$238.6M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF (−$85.6M) − |CapEx| (3M) = FCF (−$88.6M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Healthcare)

XFOR vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

X4 Pharmaceuticals, Inc.YOU

XFOR

−$88.6M+35.9%-252.4%

Loss

UnitedHealth Group Incorporated

UNH

$16.07B-22.4%3.6%

82%

Eli Lilly and Company

LLY

$8.97B+2065.6%13.8%

46%

Healthcare · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

X4 Pharmaceuticals, Inc. (XFOR) reported free cash flow of −$88.6M for FY2025 (fiscal year ending 2025-12-31), up 35.9% year-over-year. The FCF margin was -252.4%.

X4 Pharmaceuticals, Inc. has reported negative free cash flow in recent periods, indicating capital expenditures have exceeded operating cash flow. Data available for 11 fiscal years.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

XFOR free cash flow · 8 questions

X4 Pharmaceuticals, Inc. free cash flow was −$88.6M for FY2025, up 35.9% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at −$73.3M.

XFOR free cash flowXFOR FCFXFOR FCF 2025XFOR free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · X4 Pharmaceuticals, Inc. · X4 Pharmaceuticals, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 9, 2026