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Highlands REIT cash flow, quarter by quarter

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

Free cash flow$264K in Q2 2026 · $2.3M over twelve months

Operating cash flow$264K
Free cash flow+$264K

Analysis

In Q2 2026, Highlands REIT generated $264K of operating cash flow. That is $1.0M more than in Q2 2025 (−$740K).

Over the twelve months to Jun 30, 2026, operating cash flow was $2.3M; the largest uses were other investing ($1.9M), taxes on employees’ shares ($938K); besides operations, cash came from other financing ($23.5M); the cash balance rose by $23.0M.

Operating cash flow was $264K against net income of −$3.4M. The largest differences: payables +$1.0M, other liabilities −$645K, receivables +$300K.

Free cash flow

Highlands REIT: free cash flow by quarterHighlands REIT: free cash flow by quarter$1.3MQ3 2024−$1.1MQ4 2024$1.1MQ1 2025−$740KQ2 2025$3.5MQ3 2025−$2.5MQ4 2025$1.0MQ1 2026$264KQ2 2026
Operating cash flow less capital spending.
Highlands REIT: operating cash flow against capital spendingHighlands REIT: operating cash flow against capital spendingOperating cash flowCapital spending$1.3M$0Q3 2024−$1.1M$0Q4 2024$1.1M$0Q1 2025−$740K$0Q2 2025$3.5M$0Q3 2025−$2.5M$0Q4 2025$1.0M$0Q1 2026$264K$0Q2 2026
Latest (Q2 2026): Operating cash flow $264K, Capital spending $0.

Capital allocation, year by year

Highlands REIT: where the cash came from (up) and went (down), by fiscal yearHighlands REIT: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesBuybacksFY2021: Operating cash flow $217KFY2021: Net borrowing −$21.1M$217KFY2021FY2022: Operating cash flow $2.5MFY2022: Asset sales $8.9M$11.4MFY2022FY2023: Operating cash flow $2.3MFY2023: Net borrowing $67.4MFY2023: Buybacks −$25.2M$69.7MFY2023FY2024: Operating cash flow $2.7MFY2024: Asset sales $20.1MFY2024: Buybacks −$224K$22.7MFY2024FY2025: Operating cash flow $1.4MFY2025: Buybacks −$1.9M$1.4MFY2025
Over these 5 years operating cash flow totalled $9.1M; the largest uses were buybacks ($27.4M) and net borrowing ($21.1M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$44.5M
Debt$145M
Net debt$100M

Highlands REIT funds itself: free cash flow was $2.3M over the last twelve months, and $44.5M of cash and investments stands against $145M of debt.

Where the cash came from and went

Highlands REIT: sources (+) and uses (−) of cash, Q2 2026Highlands REIT: sources (+) and uses (−) of cash, Q2 2026Cash drawn (+) / kept (−)−$24.4MOther financing$24.4MOperating cash flow$264KOther investing−$222K
Highlands REIT: sources (+) and uses (−) of cash, TTM to Q2 2026Highlands REIT: sources (+) and uses (−) of cash, TTM to Q2 2026Other financing$23.5MCash drawn (+) / kept (−)−$23.0MOperating cash flow$2.3MOther investing−$1.9MTaxes on employees’ shares−$938K

From profit to cash

Highlands REIT: net income to operating cash flow, Q2 2026Highlands REIT: net income to operating cash flow, Q2 2026Net income−$3.4MReceivables$300KPayables$1.0MOther liabilities−$645KOperating cash flow$264K
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCash drawn (+) / kept (−)Free cash flow
Q2 2026$264K−$24.4M$264K
Q1 2026$1.0M−$394K$1.0M
Q4 2025−$2.5M$4.8M−$2.5M
Q3 2025$3.5M−$2.9M$3.5M
Q2 2025−$740K$5.7M−$740K
Q1 2025$1.1M$4.9M$1.1M
Q4 2024−$1.1M$3.8M−$1.1M
Q3 2024$1.3M$216K$1.3M

Highlands REIT: income statement and cash flow

Highlands REIT, Q2 2026: revenue $9.0M (-5% year over year), operating margin -17.8%. The chart follows the revenue to costs, profit and cash.

Highlands REIT: 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.