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Capstone Holding cash flow, quarter by quarter

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

Free cash flow−$454K in Q2 2026 · −$3.8M over twelve months

Operating cash flow−$390K
Capital spending−$64K
Free cash flow−$454K

Analysis

In Q2 2026, Capstone Holding generated −$390K of operating cash flow and spent $64K on capital projects, leaving free cash flow of −$454K. That is $1.3M more than in Q2 2025 (−$1.7M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$3.6M; the largest uses were other investing ($6.8M), operating cash flow ($3.6M), capital spending ($213K); besides operations, cash came from other financing ($9.6M), net borrowing (+) / repaid (−) ($562K); the cash balance fell by $548K.

Operating cash flow was −$390K against net income of −$1.4M. The largest differences: receivables −$2.6M, inventory +$1.5M, accrued liabilities +$354K.

Free cash flow

Capstone Holding: free cash flow by quarterCapstone Holding: free cash flow by quarter$2.2MQ3 2024$2.7MQ4 2024−$2.3MQ1 2025−$1.7MQ2 2025−$540KQ4 2025−$2.8MQ1 2026−$454KQ2 2026
Operating cash flow less capital spending.
Capstone Holding: operating cash flow against capital spendingCapstone Holding: operating cash flow against capital spendingOperating cash flowCapital spending$2.2M−$20KQ3 2024$2.7M$19KQ4 2024−$2.3M$17KQ1 2025−$1.7M−$15KQ2 2025−$420K$120KQ4 2025−$2.8M$29KQ1 2026−$390K$64KQ2 2026
Latest (Q2 2026): Operating cash flow −$390K, Capital spending $64K.

Capital allocation, year by year

Capstone Holding: where the cash came from (up) and went (down), by fiscal yearCapstone Holding: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingFY2017: Operating cash flow −$1.6MFY2017: Shares issued $998K$998KFY2017FY2018: Operating cash flow $66K$66KFY2018FY2023: Operating cash flow $1.6MFY2023: Net borrowing $1.1MFY2023: Capital spending −$208K$2.8MFY2023FY2024: Operating cash flow $3.8MFY2024: Net borrowing −$3.5MFY2024: Capital spending −$120K$3.8MFY2024FY2025: Operating cash flow −$4.4MFY2025: Net borrowing $6.2MFY2025: Shares issued $5.0MFY2025: Capital spending −$122K$11.3MFY2025
Over these 5 years operating cash flow totalled −$436K; the largest uses were operating cash flow ($6.0M) and net borrowing ($3.5M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$225K
Debt$12.8M
Net debt$12.6M
Due within a year$5.7M
Cash runway1 month

Capstone Holding is burning cash: its operations consume cash, a free cash flow of −$3.8M a year at the current rate against $225K of cash and investments: a runway of about 1 month; $5.7M of debt also comes due within a year, which would need refinancing or new money before any new financing.

Capstone Holding: debt maturities by year (FY2025)Capstone Holding: debt maturities by year (FY2025)$5.7MYear 1$4.9MYear 2$2.1MYear 3$44KYear 4$54KYear 5$3.0MAfter year 5
Principal due in each year as disclosed in the annual report, against $225K of cash and investments now.

Where the cash came from and went

Capstone Holding: sources (+) and uses (−) of cash, Q2 2026Capstone Holding: sources (+) and uses (−) of cash, Q2 2026Operating cash flow−$390KNet borrowing (+) / repaid (−)$267KCash drawn (+) / kept (−)$194KCapital spending−$64KOther investing−$38KOther financing$35KExchange rates−$4K
Capstone Holding: sources (+) and uses (−) of cash, TTM to Q2 2026Capstone Holding: sources (+) and uses (−) of cash, TTM to Q2 2026Other financing$9.6MOther investing−$6.8MOperating cash flow−$3.6MNet borrowing (+) / repaid (−)$562KCash drawn (+) / kept (−)$548KCapital spending−$213KExchange rates−$82KShares issued−$2K

From profit to cash

Capstone Holding: net income to operating cash flow, Q2 2026Capstone Holding: net income to operating cash flow, Q2 2026Net income−$1.4MDepreciation & amortization$163KReceivables−$2.6MInventory$1.5MAccrued liabilities$354KOther liabilities$2KOperating cash flow−$390K
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202538964094
Q2 202535913789
Q1 20254113353122

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$390K−$64K$267K—$194K−$454K
Q1 2026−$2.8M−$29K$189K—$308K−$2.8M
Q4 2025−$420K−$120K$3.2M—$3K−$540K
Q2 2025−$1.7M$15K$936K$1.8M$971K−$1.7M
Q1 2025−$2.3M−$17K$743K$3.2M−$1.7M−$2.3M
Q4 2024$2.7M−$19K−$356K—$3K$2.7M
Q3 2024$2.2M$20K−$272K—−$13K$2.2M

Capstone Holding: income statement and cash flow

Capstone Holding, Q2 2026: revenue $21.5M (+67% year over year), operating margin 2.0%. The chart follows the revenue to costs, profit and cash.

Capstone Holding: 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.