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Blue Star Foods cash flow, quarter by quarter

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

Free cash flow−$47K in Q2 2026 · −$582K over twelve months

Operating cash flow−$47K
Free cash flow−$47K
Cash conversion cycle-169 days

Analysis

In Q2 2026, Blue Star Foods generated −$47K of operating cash flow. That is $252K less than in Q2 2025 ($204K).

Over the twelve months to Jun 30, 2026, operating cash flow was −$582K; the largest uses were operating cash flow ($582K); besides operations, cash came from other financing ($489K); the cash balance fell by $35K.

Operating cash flow was −$47K against net income of −$65K. The largest differences: inventory +$126K, payables −$118K, receivables +$62K.

Its cash conversion cycle was -169 days (receivables 11 + inventory 145 − payables 324): suppliers fund its working capital.

Free cash flow

Blue Star Foods: free cash flow by quarterBlue Star Foods: free cash flow by quarter−$1.7MQ3 2024−$1.9MQ4 2024−$402KQ1 2025$204KQ2 2025−$184KQ3 2025−$302KQ4 2025−$49KQ1 2026−$47KQ2 2026
Operating cash flow less capital spending.
Blue Star Foods: operating cash flow against capital spendingBlue Star Foods: operating cash flow against capital spendingOperating cash flowCapital spending−$1.6M$36KQ3 2024−$1.9M$8KQ4 2024−$393K$10KQ1 2025$204K$0Q2 2025−$184K$0Q3 2025−$302K$0Q4 2025−$49K$0Q1 2026−$47K$0Q2 2026
Latest (Q2 2026): Operating cash flow −$47K, Capital spending $0.

Capital allocation, year by year

Blue Star Foods: where the cash came from (up) and went (down), by fiscal yearBlue Star Foods: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow −$4.8MFY2021: Net borrowing $164KFY2021: Shares issued $6.6MFY2021: Asset sales $17KFY2021: Acquisitions −$791K$6.8MFY2021FY2022: Operating cash flow −$3.6MFY2022: Net borrowing $3.0MFY2022: Capital spending −$297KFY2022: Acquisitions −$398K$3.0MFY2022FY2023: Operating cash flow −$3.5MFY2023: Net borrowing $2.4MFY2023: Shares issued $1.8MFY2023: Capital spending −$160KFY2023: Buybacks −$76K$4.2MFY2023FY2024: Operating cash flow −$6.2MFY2024: Net borrowing $522KFY2024: Shares issued $6.2MFY2024: Capital spending −$102K$6.7MFY2024FY2025: Operating cash flow −$675KFY2025: Net borrowing $922KFY2025: Shares issued $20KFY2025: Capital spending −$10K$942KFY2025
Over these 5 years operating cash flow totalled −$18.9M; the largest uses were operating cash flow ($18.9M) and acquisitions ($1.2M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$11K
Debt$258K
Net debt$247K
Cash runway0 months

Blue Star Foods is burning cash: its operations consume cash, a free cash flow of −$582K a year at the current rate against $11K of cash and investments: a runway of about 0 months before any new financing.

Where the cash came from and went

Blue Star Foods: sources (+) and uses (−) of cash, Q2 2026Blue Star Foods: sources (+) and uses (−) of cash, Q2 2026Exchange rates$57KOperating cash flow−$47KNet borrowing (+) / repaid (−)−$15KCash drawn (+) / kept (−)$6K
Blue Star Foods: sources (+) and uses (−) of cash, TTM to Q2 2026Blue Star Foods: sources (+) and uses (−) of cash, TTM to Q2 2026Operating cash flow−$582KOther financing$489KExchange rates$58KCash drawn (+) / kept (−)$35K

From profit to cash

Blue Star Foods: net income to operating cash flow, Q2 2026Blue Star Foods: net income to operating cash flow, Q2 2026Net income−$65KDepreciation & amortization$6KStock-based pay$3KReceivables$62KInventory$126KPayables−$118KPrepaid and other assets$10KOther liabilities$13KOperating cash flow−$47K
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 202611145324-169
Q1 202627142269-100
Q3 2025444891459-926
Q1 20253841101-22
Q3 20249226798261

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$47K—−$15K—$6K−$47K
Q1 2026−$49K—$70K—−$3K−$49K
Q4 2025−$302K—$240K—$68K−$302K
Q3 2025−$184K—$194K—−$37K−$184K
Q2 2025$204K—−$142K—−$23K$204K
Q1 2025−$393K−$10K−$430K$20K$304K−$402K
Q4 2024−$1.9M−$8K−$71K$2.2M−$254K−$1.9M
Q3 2024−$1.6M−$36K−$18K$1.8M$412−$1.7M

Blue Star Foods: income statement and cash flow

Blue Star Foods, Q2 2026: revenue $532K (-55% year over year), operating margin -29.0%. The chart follows the revenue to costs, profit and cash.

Blue Star Foods: 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.