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Alpha Cognition cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$7.0M in Q2 2026 · −$31.2M over twelve months

Operating cash flow−$6.9M
Capital spending−$99K
Free cash flow−$7.0M
Cash conversion cycle1210 days

Analysis

In Q2 2026, Alpha Cognition generated −$6.9M of operating cash flow and spent $99K on capital projects, leaving free cash flow of −$7.0M. That is $809K less than in Q2 2025 (−$6.1M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$30.9M; the largest uses were operating cash flow ($30.9M), other investing ($5.9M), capital spending ($322K); besides operations, cash came from other financing ($39.1M); the cash balance rose by $2.0M.

Operating cash flow was −$6.9M against net income of −$8.8M. The largest differences: receivables −$1.9M, stock-based pay +$1.5M, payables +$945K.

Its cash conversion cycle was 1210 days (receivables 68 + inventory 1447 − payables 305).

Free cash flow

Alpha Cognition: free cash flow by quarterAlpha Cognition: free cash flow by quarter−$1.6MQ3 2024−$2.3MQ4 2024−$2.1MQ1 2025−$6.1MQ2 2025−$5.4MQ3 2025−$7.1MQ4 2025−$11.8MQ1 2026−$7.0MQ2 2026
Operating cash flow less capital spending.
Alpha Cognition: operating cash flow against capital spendingAlpha Cognition: operating cash flow against capital spendingOperating cash flowCapital spending−$1.6M$0Q3 2024−$2.3M$0Q4 2024−$2.0M$63KQ1 2025−$6.1M$8KQ2 2025−$5.3M$74KQ3 2025−$6.9M$148KQ4 2025−$11.8M$1KQ1 2026−$6.9M$99KQ2 2026
Latest (Q2 2026): Operating cash flow −$6.9M, Capital spending $99K.

Capital allocation, year by year

Alpha Cognition: where the cash came from (up) and went (down), by fiscal yearAlpha Cognition: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingFY2023: Operating cash flow −$8.8MFY2023: Shares issued $9.3M$9.3MFY2023FY2024: Operating cash flow −$7.8MFY2024: Net borrowing $4.2MFY2024: Shares issued $3.7MFY2024: Capital spending −$27K$8.0MFY2024FY2025: Operating cash flow −$20.4MFY2025: Net borrowing −$911KFY2025: Shares issued $365KFY2025: Capital spending −$293K$365KFY2025
Over these 3 years operating cash flow totalled −$36.9M; the largest uses were operating cash flow ($36.9M) and net borrowing ($911K). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$41.4M
Debtnone
Net cash$41.4M
Cash runway16 months

Alpha Cognition is burning cash: its operations consume cash, a free cash flow of −$31.2M a year at the current rate against $41.4M of cash and investments: a runway of about 16 months before any new financing.

Where the cash came from and went

Alpha Cognition: sources (+) and uses (−) of cash, Q2 2026Alpha Cognition: sources (+) and uses (−) of cash, Q2 2026Cash drawn (+) / kept (−)$12.9MOperating cash flow−$6.9MOther investing−$5.9MCapital spending−$99K
Alpha Cognition: sources (+) and uses (−) of cash, TTM to Q2 2026Alpha Cognition: sources (+) and uses (−) of cash, TTM to Q2 2026Other financing$39.1MOperating cash flow−$30.9MOther investing−$5.9MCash drawn (+) / kept (−)−$2.0MCapital spending−$322K

From profit to cash

Alpha Cognition: net income to operating cash flow, Q2 2026Alpha Cognition: net income to operating cash flow, Q2 2026Net income−$8.8MDepreciation & amortization$104KStock-based pay$1.5MReceivables−$1.9MInventory−$351KPayables$945KDeferred revenue−$27KPrepaid and other assets$14KOperating cash flow−$6.9M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 20266814473051210
Q1 202610020198141305
Q4 2025117246810021583
Q3 20257515194491145
Q2 202561393351103

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$6.9M−$99K——$12.9M−$7.0M
Q1 2026−$11.8M−$1K—$1K$11.8M−$11.8M
Q4 2025−$6.9M−$148K—$1−$30.6M−$7.1M
Q3 2025−$5.3M−$74K——$4.0M−$5.4M
Q2 2025−$6.1M−$8K——$6.2M−$6.1M
Q1 2025−$2.0M−$63K−$911K—$2.9M−$2.1M
Q4 2024−$2.3M———−$44.8M−$2.3M
Q3 2024−$1.6M———−$2.6M−$1.6M

Alpha Cognition: income statement and cash flow

Alpha Cognition, Q2 2026: revenue $6.1M (+268% year over year), operating margin -127.3%. The chart follows the revenue to costs, profit and cash.

Alpha Cognition: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.