NEUPHIGH SIGNALFINANCIAL10-K

NEUP achieved a dramatic turnaround from massive losses to near break-even operations, with operating cash flow swinging from -$14.7M to positive $77K.

This represents an exceptional operational improvement suggesting the company has successfully stabilized its business model and dramatically reduced cash burn. The near break-even performance across both profitability and cash flow metrics indicates NEUP may have reached an inflection point toward sustainable operations.

Comparing 2025-09-29 vs 2024-09-30View on EDGAR →
FINANCIAL ANALYSIS

NEUP delivered an extraordinary financial turnaround with operating income improving 93.7% from -$17.9M to -$1.1M and operating cash flow swinging 100.5% from -$14.7M to positive $77K, while net losses decreased 97.6% to just -$370K. The company strengthened its balance sheet with cash increasing 12.7% to $14.2M and current assets growing 14% to $15.0M, while accounts receivable declined 90.6% suggesting improved collections or business model changes. This comprehensive improvement across all financial metrics signals a dramatic operational turnaround that moves the company from significant cash burn to near break-even performance.

FINANCIAL STATEMENT CHANGES
Operating Cash Flow
Cash Flow
+100.5%
-$14.7M$77K

Operating cash flow surged 100.5% — exceptional cash generation, highest quality earnings signal.

Net Income
P&L
+97.6%
-$15.5M-$370K

Net income grew 97.6% — bottom-line growth signals improving overall business health.

Operating Income
P&L
+93.7%
-$17.9M-$1.1M

Operating leverage kicking in — revenue growth outpacing cost growth, a hallmark of scaling businesses.

Accounts Receivable
Balance Sheet
-90.6%
$127K$12K

Receivables declined — improved collection efficiency or conservative revenue recognition.

Current Assets
Balance Sheet
+14%
$13.2M$15.0M

Current assets grew 14% — improving short-term liquidity or inventory/receivables build.

Cash & Equivalents
Balance Sheet
+12.7%
$12.6M$14.2M

Cash grew 12.7% — improving liquidity position supports investment and shareholder returns.

Current Liabilities
Balance Sheet
+10.2%
$3.8M$4.2M

Current liabilities rose 10.2% — increased short-term obligations, watch current ratio.

LANGUAGE CHANGES
NEW — 2025-09-29
PRIOR — 2024-09-30
ADDED
(Exact name of Registrant as specified in its Charter) Delaware Delaware 99-3845448 (State or other jurisdiction of incorporation or organization) (I.R.S.
The listed documents should be clearly described for identification purposes (e.g., annual report to security holders for fiscal year ended December 24, 1980).
Market for Registrant s Common Equity, Related shareholder Matters and Issuer Purchases of Equity Securities 86 Item 6.
Security Ownership of Certain Beneficial Owners and Management and Related shareholder Matters 111 Item 13.
Form 10-K Summary 115 Signatures 116 i Basis of Presentation Neuphoria Therapeutics Inc.
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REMOVED
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C.
Aggregate market value excludes an aggregate of approximately 326,212,573 ordinary shares held by officers and directors and by each person known by the registrant to own 5% or more of the outstanding ordinary shares on such date.
Exclusion of shares held by any of these persons should not be construed to indicate that such person possesses the power, direct or indirect, to direct or cause the direction of the management or policies of the registrant, or that such person is controlled by or under common control with the registrant.
As of September 17, 2024, the registrant had 3,117,662,864 ordinary shares issued and outstanding.
Market for Registrant s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 108 Item 6.
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