Cash flow Mesoblast Limited

Equities

MSB

AU000000MSB8

Biotechnology & Medical Research

Delayed Australian S.E. Other stock markets 01:31:59 09/02/2026 GMT			5-day change	1st Jan Change
2.335 ^AUD	+4.71%		-5.47%	-14.15%

02-06	ASX Biggest Losers	MT
01-29	Mesoblast to Start Site Enrollment in Pivotal Trial for Cell Therapy Label Extension; Shares Fall 4%	MT

485.4rJ-8S9-fmmnHsqtyQ-4myksIVAHbKJNqTyxKC7l2vI.jOUmpX1NHSTgW_-f5Hr6zGVPQiRiKtoXzV_VbniXu7OE5EqkHAg_J_B6vQ

Published financial data: MESOBLAST LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: June	2021	2022	2023	2024	2025
Revenues	7.46M	10.21M	7.5M	5.9M	17.2M
Total Revenues	7.46M	10.21M	7.5M	5.9M	17.2M
Cost of Goods Sold, Total	85.73M	63.57M	54.92M	41.07M	39.94M
Gross Profit	-78.28M	-53.36M	-47.42M	-35.17M	-22.74M
Selling General & Admin Expenses, Total	30.87M	27.21M	25.37M	23.63M	39.31M
R&D Expenses	-	-	-	-	-
Other Operating Expenses	-68K	3K	-3.51M	-822K	395K
Other Operating Expenses, Total	30.8M	27.21M	21.87M	22.8M	39.7M
Operating Income	-109M	-80.57M	-69.29M	-57.97M	-62.44M
Interest Expense, Total	-15.94M	-16.91M	-19.44M	-20.66M	-21.75M
Interest And Investment Income	-	3K	831K	1.82M	3.55M
Net Interest Expenses	-15.94M	-16.9M	-18.61M	-18.83M	-18.2M
Currency Exchange Gains (Loss)	1.47M	-536K	-163K	-76K	-106K
Other Non Operating Income (Expenses)	5.22M	5.51M	-2.88M	-1.57M	-6.18M
EBT, Excl. Unusual Items	-118M	-92.5M	-90.95M	-78.45M	-86.92M
Asset Writedown	-	-	76K	-	-
In Process R&D Expenses	-	-	-	-	-
Other Unusual Items	18.69M	913K	8.77M	-9.69M	-14.89M
EBT, Incl. Unusual Items	-99.63M	-91.59M	-82.1M	-88.15M	-102M
Income Tax Expense	-819K	-239K	-212K	-191K	330K
Earnings From Continuing Operations	-98.81M	-91.35M	-81.89M	-87.96M	-102M
Net Income to Company	-98.81M	-91.35M	-81.89M	-87.96M	-102M
Net Income - (IS)	-98.81M	-91.35M	-81.89M	-87.96M	-102M
Net Income to Common Incl Extra Items	-98.81M	-91.35M	-81.89M	-87.96M	-102M
Net Income to Common Excl. Extra Items	-98.81M	-91.35M	-81.89M	-87.96M	-102M
Per Share Items
Net EPS - Basic	-0.16	-0.14	-0.11	-0.09	-0.08
Basic EPS - Continuing Operations	-0.16	-0.14	-0.11	-0.09	-0.08
Basic Weighted Average Shares Outstanding	605M	649M	739M	987M	1.21B
Net EPS - Diluted	-0.16	-0.14	-0.11	-0.09	-0.08
Diluted EPS - Continuing Operations	-0.16	-0.14	-0.11	-0.09	-0.08
Diluted Weighted Average Shares Outstanding	605M	649M	739M	987M	1.21B
Normalized Basic EPS	-0.12	-0.09	-0.08	-0.05	-0.04
Normalized Diluted EPS	-0.12	-0.09	-0.08	-0.05	-0.04
American Depositary Receipts Ratio (ADR)	10	10	10	10	10
Supplemental Items
EBITDA	-107M	-77.91M	-66.84M	-56.08M	-58.18M
EBITA	-108M	-79.06M	-67.8M	-56.49M	-58.48M
EBIT	-109M	-80.57M	-69.29M	-57.97M	-62.44M
EBITDAR	-103M	-74.71M	-65.74M	-55.78M	-
Total Revenues (As Reported)	-	10.21M	-	-	17.2M
Effective Tax Rate - (Ratio)	0.82	0.26	0.26	0.22	-0.32
Total Deferred Taxes	-819K	-239K	-212K	-191K	330K
Normalized Net Income	-73.95M	-57.81M	-56.84M	-49.03M	-54.33M
Interest on Long-Term Debt	15.94M	16.91M	19.44M	20.66M	22.55M
Supplemental Operating Expense Items
General and Administrative Expenses	30.87M	27.21M	25.37M	23.63M	-
Research And Development Expense From Footnotes	53.01M	32.82M	27.19M	25.35M	34.81M
Net Rental Expense, Total	3.6M	3.2M	1.1M	300K	-
Imputed Operating Lease Interest Expense	4.48M	4.08M	1.53M	421K	-
Imputed Operating Lease Depreciation	-883K	-875K	-432K	-121K	-
Stock-Based Comp., COGS (Total)	8.33M	3.93M	1.67M	2.97M	12.49M
Stock-Based Comp., R&D Exp. (Total)	-	-	-	-	-
Stock-Based Comp., G&A Exp. (Total)	4.18M	1.61M	1.99M	2.9M	-
Stock-Based Comp., SG&A Exp. (Total)	-	-	-	-	9.6M
Stock-Based Comp., Other (Total)	-	-	-	-	-
Total Stock-Based Compensation	12.51M	5.54M	3.66M	5.87M	22.09M

Fiscal Period: June	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	137M	60.45M	71.32M	62.96M	162M
Total Cash And Short Term Investments	137M	60.45M	71.32M	62.96M	162M
Accounts Receivable, Total	2M	2.22M	2.28M	1.63M	14.1M
Other Receivables	2.12M	1.71M	4.25M	18.85M	745K
Total Receivables	4.12M	3.93M	6.53M	20.48M	14.84M
Inventory	-	-	-	-	22.25M
Prepaid Expenses	3.68M	3.67M	2.39M	2.16M	4.28M
Other Current Assets, Total	3.55M	1.78M	1.42M	862K	1.42M
Total Current Assets	148M	69.84M	81.66M	86.46M	204M
Gross Property Plant And Equipment	26.82M	28.28M	28.47M	24.13M	23.99M
Accumulated Depreciation	-14.68M	-18.32M	-21.98M	-20.29M	-18.17M
Net Property Plant And Equipment	12.14M	9.96M	6.49M	3.84M	5.82M
Long-term Investments	2.08M	1.76M	1.76M	1.01M	1.39M
Goodwill	134M	134M	134M	134M	134M
Other Intangibles, Total	446M	444M	443M	441M	437M
Accounts Receivable Long-Term	-	-	-	190K	-
Other Long-Term Assets, Total	1.72M	1.93M	2.33M	1.91M	1.3M
Total Assets	745M	662M	669M	669M	785M
Liabilities
Accounts Payable, Total	19.6M	23.08M	20.14M	7.07M	19.08M
Accrued Expenses, Total	4.2M	3.33M	2.01M	7.44M	6.23M
Current Portion of Long-Term Debt	53.2M	5.02M	5.95M	13.86M	54.16M
Current Portion of Leases	2.76M	3.19M	4.06M	2.63M	2.68M
Other Current Liabilities	14.52M	16.76M	9.81M	42.25M	20.48M
Total Current Liabilities	94.27M	51.37M	41.98M	73.24M	103M
Long-Term Debt	41.04M	91.62M	103M	100M	67.74M
Long-Term Leases	8.48M	7.08M	3.67M	1.95M	3.58M
Deferred Tax Liability Non Current	-	-	-	-	-
Other Non Current Liabilities	19.52M	15.02M	19.11M	13.12M	13.29M
Total Liabilities	163M	165M	168M	189M	187M
Common Stock, Total	1.16B	1.17B	1.25B	1.31B	1.51B
Retained Earnings	-648M	-739M	-821M	-909M	-1.01B
Comprehensive Income and Other	65.81M	70.65M	73.52M	78.3M	99.5M
Total Common Equity	581M	497M	502M	480M	597M
Total Equity	581M	497M	502M	480M	597M
Total Liabilities And Equity	745M	662M	669M	669M	785M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	648M	737M	814M	1.14B	1.28B
ECS Total Common Shares Outstanding	648M	650M	814M	1.14B	1.28B
Book Value / Share	0.9	0.76	0.62	0.42	0.47
Tangible Book Value	851K	-81.61M	-75.34M	-95.38M	25.62M
Tangible Book Value Per Share	0	-0.13	-0.09	-0.08	0.02
Total Debt	105M	107M	116M	119M	128M
Net Debt	-31.39M	46.46M	45.18M	55.96M	-33.39M
Debt Equivalent Oper. Leases	28.8M	25.6M	8.8M	2.4M	-
Account Code - Inventory Valuation	3	3	3	3	8
Inventories - Raw Materials, Total	-	-	-	-	1.06M
Inventories - Finished Goods, Total	-	-	-	-	21.18M
Machinery, Total	12.47M	12.15M	12.34M	8.76M	9.65M
Full Time Employees	83	77	83	73	81

Fiscal Period: June	2021	2022	2023	2024	2025
Net Income	-98.81M	-91.35M	-81.89M	-87.96M	-102M
Depreciation & Amortization - CF	2.71M	2.86M	2.61M	3.18M	2.44M
Amortization of Goodwill and Intangible Assets - (CF)	1.56M	1.52M	1.49M	1.48M	3.96M
Depreciation & Amortization, Total	4.26M	4.38M	4.11M	4.67M	6.4M
Asset Writedown & Restructuring Costs	-	-	-	-	-
Stock-Based Compensation (CF)	12.51M	5.54M	3.66M	5.87M	22.09M
Other Operating Activities, Total	-16.23M	10.78M	13.33M	31.59M	26.74M
Change In Accounts Receivable	-1.74M	140K	-118K	-15.47M	5.02M
Change In Inventories	-	-	-	-	826K
Change In Accounts Payable	-5.06M	4.78M	-398K	-12.38M	11.78M
Change In Income Taxes	-	-	-2.39M	1.49M	-
Change In Deferred Taxes	-	-	-	-	1.27M
Change in Other Net Operating Assets	-1.62M	-48K	432K	23.72M	-21.94M
Cash from Operations	-107M	-65.78M	-63.27M	-48.46M	-49.95M
Capital Expenditure	-1.65M	-157K	-264K	-271K	-680K
Cash Acquisitions	-	-	-	-	-
Sale (Purchase) of Intangible assets	-	-75K	-50K	-60K	-50K
Investment in Marketable and Equity Securities, Total	-	-	-	-	-
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-	-	241K
Other Investing Activities, Total	-	-	120K	234K	609K
Cash from Investing	-1.65M	-232K	-194K	-97K	120K
Long-Term Debt Issued, Total	-	51.92M	-	-	-
Total Debt Issued	-	51.92M	-	-	-
Long-Term Debt Repaid, Total	-2.93M	-58.25M	-2.66M	-13.52M	-9.76M
Total Debt Repaid	-2.93M	-58.25M	-2.66M	-13.52M	-9.76M
Issuance of Common Stock	106M	209K	88.64M	65.41M	166M
Other Financing Activities, Total	11.13M	-3.75M	-11.48M	-11.63M	-9.28M
Cash from Financing	114M	-9.87M	74.5M	40.25M	147M
Foreign Exchange Rate Adjustments	1.42M	-550K	-168K	-55K	1.09M
Net Change in Cash	7.55M	-76.43M	10.87M	-8.36M	98.59M
Supplemental Items
Cash Interest Paid	5.93M	6.08M	6.01M	5.72M	5.27M
Cash Income Tax Paid (Refund)	35K	24K	-20K	-4K	2K
Levered Free Cash Flow	-82.99M	-44.42M	-60.16M	-27.32M	-55.12M
Unlevered Free Cash Flow	-73.03M	-33.86M	-48.01M	-14.41M	-41.53M
Change In Net Working Capital	19.99M	-6.82M	12.15M	-11.62M	30.26M
Net Debt Issued / Repaid	-2.93M	-6.33M	-2.66M	-13.52M	-9.76M

Fiscal Period: June	2021	2022	2023	2024	2025
Profitability
Return on Assets	-9.22	-7.16	-6.5	-5.41	-5.37
Return on Total Capital	-10.21	-7.8	-7.09	-5.95	-5.89
Return On Equity %	-17.48	-16.94	-16.4	-17.91	-18.95
Return on Common Equity	-17.48	-16.94	-16.4	-17.91	-18.95
Margin Analysis
Gross Profit Margin %	-1.05K	-522.58	-632.2	-595.87	-132.22
SG&A Margin	413.99	266.48	338.27	400.3	228.57
EBITDA Margin %	-1.43K	-763.01	-891.12	-950.14	-338.31
EBITA Margin %	-1.44K	-774.21	-903.83	-957.08	-340.06
EBIT Margin %	-1.46K	-789.09	-923.73	-982.24	-363.08
Income From Continuing Operations Margin %	-1.33K	-894.59	-1.09K	-1.49K	-593.92
Net Income Margin %	-1.33K	-894.59	-1.09K	-1.49K	-593.92
Net Avail. For Common Margin %	-1.33K	-894.59	-1.09K	-1.49K	-593.92
Normalized Net Income Margin	-991.79	-566.17	-757.8	-830.8	-315.9
Levered Free Cash Flow Margin	-1.11K	-435.05	-802.02	-462.84	-320.53
Unlevered Free Cash Flow Margin	-979.5	-331.57	-640.01	-244.08	-241.47
Asset Turnover
Asset Turnover	0.01	0.01	0.01	0.01	0.02
Fixed Assets Turnover	0.67	0.92	0.91	1.14	3.56
Receivables Turnover (Average Receivables)	5.57	4.83	3.33	2.88	2.19
Short Term Liquidity
Current Ratio	1.57	1.36	1.95	1.18	1.99
Quick Ratio	1.5	1.25	1.85	1.14	1.72
Operating Cash Flow to Current Liabilities	-1.13	-1.28	-1.51	-0.66	-0.49
Days Sales Outstanding (Average Receivables)	65.55	75.49	109.49	127.06	166.88
Average Days Payable Outstanding	94.88	122.52	143.63	121.26	-
Long Term Solvency
Total Debt/Equity	18.14	21.51	23.21	24.76	21.45
Total Debt / Total Capital	15.36	17.7	18.84	19.84	17.66
LT Debt/Equity	8.52	19.86	21.22	21.32	11.94
Long-Term Debt / Total Capital	7.21	16.34	17.22	17.09	9.83
Total Liabilities / Total Assets	21.93	24.93	25.03	28.21	23.86
EBIT / Interest Expense	-6.84	-4.77	-3.56	-2.81	-2.87
EBITDA / Interest Expense	-6.58	-4.51	-3.35	-2.58	-2.58
(EBITDA - Capex) / Interest Expense	-6.68	-4.52	-3.37	-2.59	-2.61
Total Debt / EBITDA	-1.01	-1.4	-1.79	-2.23	-2.29
Net Debt / EBITDA	0.3	-0.61	-0.69	-1.05	0.6
Total Debt / (EBITDA - Capex)	-0.99	-1.4	-1.78	-2.22	-2.26
Net Debt / (EBITDA - Capex)	0.29	-0.61	-0.69	-1.04	0.59
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-76.81	37.36	-26.54	-21.32	191.39
Gross Profit, 1 Yr. Growth %	58.64	-31.85	-11.13	-25.84	-32.75
EBITDA, 1 Yr. Growth %	46.47	-26.86	-14.21	-16.11	3.75
EBITA, 1 Yr. Growth %	46.68	-26.49	-14.24	-16.68	3.54
EBIT, 1 Yr. Growth %	45.68	-26.14	-14.01	-16.33	7.71
Earnings From Cont. Operations, 1 Yr. Growth %	26.78	-7.55	-10.35	7.41	16.13
Net Income, 1 Yr. Growth %	26.78	-7.55	-10.35	7.41	16.13
Normalized Net Income, 1 Yr. Growth %	33.34	-21.82	-1.68	-13.74	10.8
Diluted EPS Before Extra, 1 Yr. Growth %	10.79	-13.78	-21.3	-15.34	-5.09
Accounts Receivable, 1 Yr. Growth %	194.99	11.2	2.34	-34.16	766.56
Net Property, Plant and Equip., 1 Yr. Growth %	18.2	-17.92	-34.86	-40.87	51.72
Total Assets, 1 Yr. Growth %	1.52	-11.09	1.1	-0.04	17.27
Tangible Book Value, 1 Yr. Growth %	-102.64	-9.69K	-7.67	26.59	-126.86
Common Equity, 1 Yr. Growth %	5.84	-14.51	0.96	-4.28	24.38
Cash From Operations, 1 Yr. Growth %	89.27	-34.71	-3.82	-23.41	3.09
Capital Expenditures, 1 Yr. Growth %	-21.42	-90.47	68.15	2.65	150.92
Levered Free Cash Flow, 1 Yr. Growth %	352.8	-46.48	35.42	-54.59	101.8
Unlevered Free Cash Flow, 1 Yr. Growth %	699.8	-53.65	41.79	-69.99	188.29
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-33.23	-43.65	0.45	-23.97	51.42
Gross Profit, 2 Yr. CAGR %	15.72	3.99	-22.18	-18.82	-29.16
EBITDA, 2 Yr. CAGR %	16.8	3.51	-20.79	-15.16	-6.7
EBITA, 2 Yr. CAGR %	16.94	3.85	-20.6	-15.47	-7.12
EBIT, 2 Yr. CAGR %	16.62	3.74	-20.31	-15.18	-5.07
Earnings From Cont. Operations, 2 Yr. CAGR %	4.9	8.26	-8.96	-1.87	11.68
Net Income, 2 Yr. CAGR %	4.9	8.26	-8.96	-1.87	11.68
Normalized Net Income, 2 Yr. CAGR %	13.1	2.1	-12.33	-7.9	-2.24
Diluted EPS Before Extra, 2 Yr. CAGR %	-5.18	-2.26	-17.63	-18.38	-10.37
Accounts Receivable, 2 Yr. CAGR %	7.24	81.11	6.68	-14.47	138.87
Net Property, Plant and Equip., 2 Yr. CAGR %	283.37	-1.5	-26.88	-37.94	-5.29
Total Assets, 2 Yr. CAGR %	6.86	-5	-5.19	0.53	8.27
Tangible Book Value, 2 Yr. CAGR %	-90.87	59.01	840.94	8.11	-41.69
Common Equity, 2 Yr. CAGR %	9.94	-4.88	-7.09	-1.69	9.11
Cash From Operations, 2 Yr. CAGR %	35.87	8.03	-20.75	-14.17	-11.14
Capital Expenditures, 2 Yr. CAGR %	142.97	-72.63	-59.96	31.38	60.49
Levered Free Cash Flow, 2 Yr. CAGR %	245.81	55.68	-14.87	-21.45	-4.28
Unlevered Free Cash Flow, 2 Yr. CAGR %	126.34	92.56	-18.93	-34.62	-6.99
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-24.52	-15.16	-38.44	-7.4	18.98
Gross Profit, 3 Yr. CAGR %	13.11	-2.99	-1.31	-23.42	-24.75
EBITDA, 3 Yr. CAGR %	13.83	-0.06	-2.77	-19.26	-9.27
EBITA, 3 Yr. CAGR %	13.72	0.18	-2.57	-19.31	-9.56
EBIT, 3 Yr. CAGR %	13.37	0.15	-2.55	-19	-8.15
Earnings From Cont. Operations, 3 Yr. CAGR %	40.95	0.57	1.66	-3.8	3.79
Net Income, 3 Yr. CAGR %	40.95	0.57	1.66	-3.8	3.79
Normalized Net Income, 3 Yr. CAGR %	15.64	0	0.82	-12.8	-2.05
Diluted EPS Before Extra, 3 Yr. CAGR %	29.15	-8.14	-9.07	-18.27	-14.17
Accounts Receivable, 3 Yr. CAGR %	-32.93	8.55	49.73	-6.65	85.08
Net Property, Plant and Equip., 3 Yr. CAGR %	123.73	129.35	-14.18	-31.88	-16.4
Total Assets, 3 Yr. CAGR %	2.46	0.51	-3.01	-3.5	5.82
Tangible Book Value, 3 Yr. CAGR %	-71.96	-7.19	32.66	382.14	-32.04
Common Equity, 3 Yr. CAGR %	2.12	1.1	-2.97	-6.17	6.32
Cash From Operations, 3 Yr. CAGR %	12.46	4.41	3.93	-21.65	-8.77
Capital Expenditures, 3 Yr. CAGR %	101.6	-17.44	-49.87	-45.2	63.01
Levered Free Cash Flow, 3 Yr. CAGR %	-5.2	85.67	48.61	-30.96	7.58
Unlevered Free Cash Flow, 3 Yr. CAGR %	-8.79	33.42	73.88	-41.79	7.21
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-29.41	33.46	-15.43	-18.8	-11.76
Gross Profit, 5 Yr. CAGR %	43.68	40.77	-2.6	-9.66	-14.35
EBITDA, 5 Yr. CAGR %	14.68	-2.18	-1.53	-6.4	-4.36
EBITA, 5 Yr. CAGR %	14.21	-2.25	-1.5	-6.4	-4.42
EBIT, 5 Yr. CAGR %	14.31	-2.2	-1.53	-6.29	-3.57
Earnings From Cont. Operations, 5 Yr. CAGR %	88.73	3.53	18.34	-0.41	5.56
Net Income, 5 Yr. CAGR %	88.73	3.53	18.34	-0.41	5.56
Normalized Net Income, 5 Yr. CAGR %	15.72	0.53	3.52	-3.24	-0.41
Diluted EPS Before Extra, 5 Yr. CAGR %	70.19	-6.24	7.89	-13.27	-10.51
Accounts Receivable, 5 Yr. CAGR %	34.17	36.23	-19.25	-1.32	83.48
Net Property, Plant and Equip., 5 Yr. CAGR %	31.71	40.59	43.04	35.96	-10.73
Total Assets, 5 Yr. CAGR %	1.71	0.2	-0.67	0.52	1.36
Tangible Book Value, 5 Yr. CAGR %	-57.26	3.24	14.31	-1.35	-4.52
Common Equity, 5 Yr. CAGR %	1.94	-0.78	-1.67	-0.03	1.69
Cash From Operations, 5 Yr. CAGR %	3.93	-7.18	-3.35	-3.46	-2.39
Capital Expenditures, 5 Yr. CAGR %	17.93	-12.78	5.6	-0.58	-20.16
Levered Free Cash Flow, 5 Yr. CAGR %	12.83	-2.71	-9.19	31.53	24.64
Unlevered Free Cash Flow, 5 Yr. CAGR %	9.98	-7.85	-12.99	0.21	35.38