What is the cash flow situation—operating cash flow, capital expenditures, and any changes in the balance sheet?

Answer – Cash‑flow and balance‑sheet details are not included in the excerpt you provided

The short news blurb you shared (title, brief summary, ticker symbols, and publication info) announces that PyroGenesis Inc. has released its Q2 2025 financial and operating results, but it does not contain the actual numbers for:

Because the specific cash‑flow figures and balance‑sheet movements are missing, I can’t give you a quantitative answer. However, here’s what you can do to obtain the full picture:

1. Where to Find the Missing Data

2. Typical Cash‑Flow Items to Look For

3. How to Interpret the Numbers (once you have them)

1. Operating Cash Flow

   • Positive & growing → Core operations are generating cash, a good sign for sustainability.
     
   • Negative or declining → May indicate higher working‑capital needs, lower margins, or one‑off expenses.

2. Capital Expenditures

   • Higher CapEx relative to peers could mean the company is aggressively expanding its plasma‑process infrastructure (e.g., new pilot plants, scaling production).
     
   • Lower CapEx might reflect a focus on conserving cash or a temporary slowdown in new projects.

3. Balance‑Sheet Shifts

   • Increase in cash (from financing or operations) improves liquidity.
     
   • Rising debt without a proportional rise in cash flow could raise solvency concerns.
     
   • Equity issuances can dilute existing shareholders but may be necessary to fund growth.

4. Free Cash Flow

   • Positive FCF suggests the company can self‑fund its CapEx and potentially return capital to shareholders.
     
   • Negative FCF isn’t always a red flag if it’s driven by strategic, growth‑oriented CapEx that is expected to generate future cash.

4. Quick Checklist for Your Review

• ☐ Operating cash flow (amount, YoY/QoQ change)
  
• ☐ Capital expenditures (total, split between growth vs. maintenance)
  
• ☐ Free cash flow (OCF – CapEx)
  
• ☐ Cash & cash equivalents (ending balance)
  
• ☐ Total debt (short‑term + long‑term) and any new borrowings/repayments
  
• ☐ Equity activity (share issuances, buy‑backs)
  
• ☐ Key liquidity ratios (current ratio, cash‑to‑debt)
  

Bottom line

Based solely on the snippet you provided, the cash‑flow statement, capital‑expenditure figures, and balance‑sheet changes are not disclosed. To give you a precise, data‑driven answer you’ll need to consult the full Q2 2025 results release (or the accompanying MD&A/10‑Q filing). Once you have those numbers, you can apply the interpretation framework above to assess PyroGenesis’s cash‑flow health and overall financial position. If you retrieve the detailed figures and want help interpreting them, feel free to paste them here and I’ll walk you through the analysis.