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ASP Isotopes cash flow, quarter by quarter

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

Free cash flow−$27.4M in Q2 2026 · −$83.6M over twelve months

Operating cash flow−$23.3M
Capital spending−$4.1M
Free cash flow−$27.4M
Cash conversion cycle-73 days

Analysis

In Q2 2026, ASP Isotopes generated −$23.3M of operating cash flow and spent $4.1M on capital projects, leaving free cash flow of −$27.4M. That is $17.7M less than in Q2 2025 (−$9.7M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$67.8M; the largest uses were other investing ($118M), operating cash flow ($67.8M), capital spending ($15.8M); besides operations, cash came from shares issued ($270M), other financing ($94.6M); the cash balance rose by $158M.

Operating cash flow was −$23.3M against net income of −$34.0M. The largest differences: stock-based pay +$4.5M, prepaid and other assets +$3.0M, accrued liabilities +$1.7M.

Its cash conversion cycle was -73 days (receivables 48 + inventory 36 − payables 157): suppliers fund its working capital.

Free cash flow

ASP Isotopes: free cash flow by quarterASP Isotopes: free cash flow by quarter−$9.3MQ3 2024−$5.1MQ4 2024−$5.5MQ1 2025−$9.7MQ2 2025−$12.0MQ3 2025−$20.2MQ4 2025−$23.9MQ1 2026−$27.4MQ2 2026
Operating cash flow less capital spending.
ASP Isotopes: operating cash flow against capital spendingASP Isotopes: operating cash flow against capital spendingOperating cash flowCapital spending−$4.8M$4.5MQ3 2024−$3.8M$1.3MQ4 2024−$3.2M$2.3MQ1 2025−$7.9M$1.8MQ2 2025−$8.9M$3.1MQ3 2025−$17.9M$2.4MQ4 2025−$17.8M$6.1MQ1 2026−$23.3M$4.1MQ2 2026
Latest (Q2 2026): Operating cash flow −$23.3M, Capital spending $4.1M.

Capital allocation, year by year

ASP Isotopes: where the cash came from (up) and went (down), by fiscal yearASP Isotopes: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingDividendsFY2022: Operating cash flow −$2.9MFY2022: Net borrowing −$26KFY2022: Shares issued $8.1MFY2022: Capital spending −$4.5M$8.1MFY2022FY2023: Operating cash flow −$5.4MFY2023: Shares issued $14.1MFY2023: Capital spending −$2.3M$14.1MFY2023FY2024: Operating cash flow −$16.7MFY2024: Net borrowing −$212KFY2024: Shares issued $53.1MFY2024: Capital spending −$9.7MFY2024: Dividends −$2.8M$53.1MFY2024FY2025: Operating cash flow −$37.8MFY2025: Net borrowing −$630KFY2025: Shares issued $320MFY2025: Capital spending −$9.7M$320MFY2025
Over these 4 years operating cash flow totalled −$62.8M; the largest uses were operating cash flow ($62.8M) and capital spending ($26.1M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$255M
Debt$59.8M
Net cash$195M
Due within a year$12.9M
Cash runway3.0 years

ASP Isotopes is burning cash: its operations consume cash, a free cash flow of −$83.6M a year at the current rate against $255M of cash and investments: a runway of about 3.0 years; $12.9M of debt also comes due within a year, which the cash covers before any new financing.

ASP Isotopes: debt maturities by year (FY2025)ASP Isotopes: debt maturities by year (FY2025)$12.9MYear 1$529KYear 2$555KYear 3$383KYear 4$4KYear 5
Principal due in each year as disclosed in the annual report, against $255M of cash and investments now.

Where the cash came from and went

ASP Isotopes: sources (+) and uses (−) of cash, Q2 2026ASP Isotopes: sources (+) and uses (−) of cash, Q2 2026Other investing$44.0MOperating cash flow−$23.3MCash drawn (+) / kept (−)−$13.7MCapital spending−$4.1MNet borrowing (+) / repaid (−)−$2.0MOther financing−$538KExchange rates−$417K
ASP Isotopes: sources (+) and uses (−) of cash, TTM to Q2 2026ASP Isotopes: sources (+) and uses (−) of cash, TTM to Q2 2026Shares issued$270MCash drawn (+) / kept (−)−$158MOther investing−$118MOther financing$94.6MOperating cash flow−$67.8MCapital spending−$15.8MNet borrowing (+) / repaid (−)−$3.6MExchange rates−$2.0M

From profit to cash

ASP Isotopes: net income to operating cash flow, Q2 2026ASP Isotopes: net income to operating cash flow, Q2 2026Net income−$34.0MDepreciation & amortization$1.2MStock-based pay$4.5MDeferred taxes−$117KReceivables−$583KInventory−$56KPayables$448KAccrued liabilities$1.7MPrepaid and other assets$3.0MOther liabilities−$199KOperating cash flow−$23.3M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 20264836157-73
Q1 20263744191-110
Q4 20255182336
Q3 20251702562133
Q2 202551101338-186
Q1 20255724178-97
Q4 20244912220-160

Every quarter

QuarterOperating cash flowCapital spendingDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$23.3M−$4.1M—−$2.0M—−$13.7M−$27.4M
Q1 2026−$17.8M−$6.1M—−$1.8M—$73.8M−$23.9M
Q4 2025−$17.9M−$2.4M—$54.6M$210M−$172M−$20.2M
Q3 2025−$8.9M−$3.1M—$2.7M$60.0M−$46.3M−$12.0M
Q2 2025−$7.9M−$1.8M—−$600K—−$11.7M−$9.7M
Q1 2025−$3.2M−$2.3M—−$216K—$5.9M−$5.5M
Q4 2024−$3.8M−$1.3M−$341—$18.6M−$10.3M−$5.1M
Q3 2024−$4.8M−$4.5M—$24K$29.0M−$23.3M−$9.3M

ASP Isotopes: income statement and cash flow

ASP Isotopes, Q2 2026: revenue $5.1M (+328% year over year), operating margin -667.5%. The chart follows the revenue to costs, profit and cash.

ASP Isotopes: 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.