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Cottonwood Communities cash flow, quarter by quarter

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

Free cash flow−$11.8M in Q2 2026 · −$61.4M over twelve months

Operating cash flow$2.4M
Capital spending−$14.2M
Free cash flow−$11.8M

Analysis

In Q2 2026, Cottonwood Communities generated $2.4M of operating cash flow and spent $14.2M on capital projects, leaving free cash flow of −$11.8M. That is $3.5M more than in Q2 2025 (−$15.3M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$11.4M; the largest uses were other investing ($65.9M), buybacks ($53.3M), capital spending ($50.1M); besides operations, cash came from shares issued ($87.7M), asset & business sales ($70.1M); the cash balance fell by $56.2M.

Operating cash flow was $2.4M against net income of −$19.5M. The largest differences: depreciation & amortization +$23.7M, prepaid and other assets −$6.4M, payables +$4.1M.

Free cash flow

Cottonwood Communities: free cash flow by quarterCottonwood Communities: free cash flow by quarter$1.8MQ3 2024−$16.9MQ4 2024−$18.4MQ1 2025−$15.3MQ2 2025−$9.5MQ3 2025−$28.7MQ4 2025−$11.4MQ1 2026−$11.8MQ2 2026
Operating cash flow less capital spending.
Cottonwood Communities: operating cash flow against capital spendingCottonwood Communities: operating cash flow against capital spendingOperating cash flowCapital spending$13.2M$11.5MQ3 2024−$3.6M$13.3MQ4 2024−$5.5M$12.9MQ1 2025−$2.6M$12.7MQ2 2025$2.0M$11.5MQ3 2025−$14.5M$14.2MQ4 2025−$1.2M$10.2MQ1 2026$2.4M$14.2MQ2 2026
Latest (Q2 2026): Operating cash flow $2.4M, Capital spending $14.2M.

Capital allocation, year by year

Cottonwood Communities: where the cash came from (up) and went (down), by fiscal yearCottonwood Communities: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksDividendsFY2021: Operating cash flow $5.4MFY2021: Net borrowing −$15.7MFY2021: Shares issued $2.5MFY2021: Asset sales $16.8MFY2021: Capital spending −$84.7MFY2021: Buybacks −$5.0MFY2021: Dividends −$9.5M$24.8MFY2021FY2022: Operating cash flow $3.8MFY2022: Net borrowing $33.4MFY2022: Shares issued $169MFY2022: Capital spending −$91.0MFY2022: Buybacks −$28.4MFY2022: Dividends −$20.0M$206MFY2022FY2023: Operating cash flow −$22.6MFY2023: Net borrowing −$42.8MFY2023: Shares issued $29.2MFY2023: Asset sales $118MFY2023: Capital spending −$50.4MFY2023: Buybacks −$95.4MFY2023: Dividends −$21.9M$147MFY2023FY2024: Operating cash flow $15.4MFY2024: Net borrowing $46.1MFY2024: Shares issued $90.5MFY2024: Asset sales $87.7MFY2024: Capital spending −$52.4MFY2024: Buybacks −$61.1MFY2024: Dividends −$19.5M$240MFY2024FY2025: Operating cash flow −$20.6MFY2025: Net borrowing −$84.4MFY2025: Shares issued $83.7MFY2025: Asset sales $327MFY2025: Capital spending −$51.4MFY2025: Buybacks −$59.1MFY2025: Dividends −$18.2M$411MFY2025
Over these 5 years operating cash flow totalled −$18.5M; the largest uses were capital spending ($330M) and buybacks ($249M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$47.7M
Debt$1.2B
Net debt$1.2B
Cash runway9 months

Cottonwood Communities is burning cash: its operations consume cash, a free cash flow of −$61.4M a year at the current rate against $47.7M of cash and investments: a runway of about 9 months before any new financing.

Where the cash came from and went

Cottonwood Communities: sources (+) and uses (−) of cash, Q2 2026Cottonwood Communities: sources (+) and uses (−) of cash, Q2 2026Other financing$55.2MOther investing−$50.6MShares issued$19.2MAsset & business sales$15.6MCapital spending−$14.2MNet borrowing (+) / repaid (−)−$13.9MPartners$13.1MBuybacks−$11.3MCash drawn (+) / kept (−)−$11.2MDividends−$4.3MOperating cash flow$2.4M
Cottonwood Communities: sources (+) and uses (−) of cash, TTM to Q2 2026Cottonwood Communities: sources (+) and uses (−) of cash, TTM to Q2 2026Shares issued$87.7MAsset & business sales$70.1MOther investing−$65.9MCash drawn (+) / kept (−)$56.2MBuybacks−$53.3MCapital spending−$50.1MNet borrowing (+) / repaid (−)−$41.8MPartners$25.3MDividends−$17.2MOperating cash flow−$11.4MOther financing$243K

From profit to cash

Cottonwood Communities: net income to operating cash flow, Q2 2026Cottonwood Communities: net income to operating cash flow, Q2 2026Net income−$19.5MDepreciation & amortization$23.7MStock-based pay$673KDeferred taxes−$291KPayables$4.1MPrepaid and other assets−$6.4MOperating cash flow$2.4M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026$2.4M−$14.2M−$11.3M−$4.3M−$13.9M$19.2M−$11.2M−$11.8M
Q1 2026−$1.2M−$10.2M−$13.1M−$4.2M$5.4M$28.0M−$19.6M−$11.4M
Q4 2025−$14.5M−$14.2M−$16.3M−$4.2M−$34.6M$22.8M$67.9M−$28.7M
Q3 2025$2.0M−$11.5M−$12.6M−$4.5M—$17.7M$19.2M−$9.5M
Q2 2025−$2.6M−$12.7M−$19.2M−$4.7M−$6.5M$15.9M−$73.0M−$15.3M
Q1 2025−$5.5M−$12.9M−$11.0M−$4.8M−$50.6M$27.3M$11.6M−$18.4M
Q4 2024−$3.6M−$13.3M−$15.3M−$4.8M$10.1M$29.2M$7.4M−$16.9M
Q3 2024$13.2M−$11.5M−$10.2M−$4.8M$14.8M$17.7M$6.4M$1.8M

Cottonwood Communities: income statement and cash flow

Cottonwood Communities, Q2 2026: revenue $47.7M (+22% year over year), operating margin -6.3%. The chart follows the revenue to costs, profit and cash.

Cottonwood Communities: 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.