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Korth Direct Mortgage cash flow, quarter by quarter

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

Free cash flow$11.0M in Q2 2026 · −$35.4M over twelve months

Operating cash flow$11.3M
Capital spending−$358K
Free cash flow+$11.0M

Analysis

In Q2 2026, Korth Direct Mortgage generated $11.3M of operating cash flow and spent $358K on capital projects, leaving free cash flow of $11.0M. That is $18.6M less than in Q2 2025 ($29.6M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$33.7M; the largest uses were operating cash flow ($33.7M), other financing ($15.5M), capital spending ($1.7M); the cash balance fell by $50.9M.

Operating cash flow was $11.3M against net income of −$259K. The largest differences: depreciation & amortization +$465K, deferred taxes −$80K, deferred revenue +$32K.

Free cash flow

Korth Direct Mortgage: free cash flow by quarterKorth Direct Mortgage: free cash flow by quarter$4.8MQ3 2024−$7.6MQ4 2024$1.5MQ1 2025$29.6MQ2 2025−$43.0MQ3 2025−$3.7MQ4 2025$273KQ1 2026$11.0MQ2 2026
Operating cash flow less capital spending.
Korth Direct Mortgage: operating cash flow against capital spendingKorth Direct Mortgage: operating cash flow against capital spendingOperating cash flowCapital spending$4.8M$18KQ3 2024−$7.6M$26KQ4 2024$1.5M$11KQ1 2025$29.7M$74KQ2 2025−$42.2M$730KQ3 2025−$3.2M$511KQ4 2025$383K$109KQ1 2026$11.3M$358KQ2 2026
Latest (Q2 2026): Operating cash flow $11.3M, Capital spending $358K.

Capital allocation, year by year

Korth Direct Mortgage: where the cash came from (up) and went (down), by fiscal yearKorth Direct Mortgage: where the cash came from (up) and went (down), by fiscal yearOperating cash flowCapital spendingFY2021: Operating cash flow −$8.8MFY2021: Capital spending −$162KFY2021FY2022: Operating cash flow $902KFY2022: Capital spending −$74K$902KFY2022FY2023: Operating cash flow $1.3MFY2023: Capital spending −$25K$1.3MFY2023FY2024: Operating cash flow −$5.4MFY2024: Capital spending −$77KFY2024FY2025: Operating cash flow −$14.3MFY2025: Capital spending −$1.3MFY2025
Over these 5 years operating cash flow totalled −$26.2M; the largest uses were operating cash flow ($28.5M) and capital spending ($1.7M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$7.1M
Debt$313M
Net debt$306M
Due within a year$138M
Cash runway2 months

Korth Direct Mortgage is burning cash: its operations consume cash, a free cash flow of −$35.4M a year at the current rate against $7.1M of cash and investments: a runway of about 2 months; $138M of debt also comes due within a year, which would need refinancing or new money before any new financing.

Korth Direct Mortgage: debt maturities by year (FY2025)Korth Direct Mortgage: debt maturities by year (FY2025)$138MYear 1$45.6MYear 2$20.6MYear 3$37.5MYear 4$46.9MYear 5$30.7MAfter year 5
Principal due in each year as disclosed in the annual report, against $7.1M of cash and investments now.

Where the cash came from and went

Korth Direct Mortgage: sources (+) and uses (−) of cash, Q2 2026Korth Direct Mortgage: sources (+) and uses (−) of cash, Q2 2026Other financing−$12.4MOperating cash flow$11.3MCash drawn (+) / kept (−)$1.4MCapital spending−$358K
Korth Direct Mortgage: sources (+) and uses (−) of cash, TTM to Q2 2026Korth Direct Mortgage: sources (+) and uses (−) of cash, TTM to Q2 2026Cash drawn (+) / kept (−)$50.9MOperating cash flow−$33.7MOther financing−$15.5MCapital spending−$1.7M

From profit to cash

Korth Direct Mortgage: net income to operating cash flow, Q2 2026Korth Direct Mortgage: net income to operating cash flow, Q2 2026Net income−$259KDepreciation & amortization$465KDeferred taxes−$80KDeferred revenue$32KOperating cash flow$11.3M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingCash drawn (+) / kept (−)Free cash flow
Q2 2026$11.3M−$358K$1.4M$11.0M
Q1 2026$383K−$109K$1.8M$273K
Q4 2025−$3.2M−$511K$4.3M−$3.7M
Q3 2025−$42.2M−$730K$43.4M−$43.0M
Q2 2025$29.7M−$74K−$38.0M$29.6M
Q1 2025$1.5M−$11K−$1.6M$1.5M
Q4 2024−$7.6M−$26K$4.0M−$7.6M
Q3 2024$4.8M−$18K−$4.3M$4.8M

Korth Direct Mortgage: income statement and cash flow

Korth Direct Mortgage, Q2 2026: revenue $3.3M (-21% year over year), operating margin 9.4%. The chart follows the revenue to costs, profit and cash.

Korth Direct Mortgage: 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.