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Cosmos Health cash flow, quarter by quarter

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

Free cash flow−$1.8M in Q2 2026 · −$9.9M over twelve months

Operating cash flow−$1.7M
Capital spending−$64K
Free cash flow−$1.8M
Cash conversion cycle43 days

Analysis

In Q2 2026, Cosmos Health generated −$1.7M of operating cash flow and spent $64K on capital projects, leaving free cash flow of −$1.8M. That is $549K less than in Q2 2025 (−$1.2M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$9.8M; the largest uses were operating cash flow ($9.8M), other investing ($2.6M), other financing ($2.3M); besides operations, cash came from shares issued ($8.4M), net borrowing (+) / repaid (−) ($7.9M); the cash balance rose by $1.8M.

Operating cash flow was −$1.7M against net income of −$6.1M. The largest differences: inventory +$1.1M, receivables −$1.1M, other liabilities +$629K.

Its cash conversion cycle was 43 days (receivables 89 + inventory 26 − payables 72).

Free cash flow

Cosmos Health: free cash flow by quarterCosmos Health: free cash flow by quarter$511KQ3 2024−$3.9MQ4 2024−$199KQ1 2025−$1.2MQ2 2025−$2.5MQ3 2025−$4.6MQ4 2025−$1.1MQ1 2026−$1.8MQ2 2026
Operating cash flow less capital spending.
Cosmos Health: operating cash flow against capital spendingCosmos Health: operating cash flow against capital spendingOperating cash flowCapital spending$740K$229KQ3 2024−$3.8M$72KQ4 2024−$186K$13KQ1 2025−$1.2M$23KQ2 2025−$2.5M$13KQ3 2025−$4.6M$8KQ4 2025−$1.1M$11KQ1 2026−$1.7M$64KQ2 2026
Latest (Q2 2026): Operating cash flow −$1.7M, Capital spending $64K.

Capital allocation, year by year

Cosmos Health: where the cash came from (up) and went (down), by fiscal yearCosmos Health: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksFY2021: Operating cash flow −$7.1MFY2021: Net borrowing $7.4MFY2021: Shares issued $250KFY2021: Capital spending −$581KFY2021: Buybacks −$377K$7.7MFY2021FY2022: Operating cash flow −$14.9MFY2022: Net borrowing $8.8MFY2022: Shares issued $16.8MFY2022: Asset sales $13KFY2022: Capital spending −$74K$25.6MFY2022FY2023: Operating cash flow −$15.6MFY2023: Net borrowing $19.5MFY2023: Shares issued $3.5MFY2023: Capital spending −$1.3MFY2023: Buybacks −$100K$23.0MFY2023FY2024: Operating cash flow −$7.7MFY2024: Net borrowing $781KFY2024: Shares issued $4.9MFY2024: Capital spending −$418K$5.7MFY2024FY2025: Operating cash flow −$8.4MFY2025: Net borrowing $9.2MFY2025: Shares issued $5.4MFY2025: Capital spending −$56K$14.6MFY2025
Over these 5 years operating cash flow totalled −$53.8M; the largest uses were operating cash flow ($53.8M) and capital spending ($2.4M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$1.8M
Debt$3.2M
Net debt$1.4M
Due within a year$2.2M
Cash runway2 months

Cosmos Health is burning cash: its operations consume cash, a free cash flow of −$9.9M a year at the current rate against $1.8M of cash and investments: a runway of about 2 months; $2.2M of debt also comes due within a year, which would need refinancing or new money before any new financing.

Cosmos Health: debt maturities by year (FY2025)Cosmos Health: debt maturities by year (FY2025)$2.2MYear 1$742KYear 2$487KYear 3$272KYear 4$82KAfter year 5
Principal due in each year as disclosed in the annual report, against $1.8M of cash and investments now.

Where the cash came from and went

Cosmos Health: sources (+) and uses (−) of cash, Q2 2026Cosmos Health: sources (+) and uses (−) of cash, Q2 2026Operating cash flow−$1.7MNet borrowing (+) / repaid (−)$1.3MShares issued$1.1MOther financing−$587KCash drawn (+) / kept (−)−$286KOther investing$178KExchange rates$101KCapital spending−$64K
Cosmos Health: sources (+) and uses (−) of cash, TTM to Q2 2026Cosmos Health: sources (+) and uses (−) of cash, TTM to Q2 2026Operating cash flow−$9.8MShares issued$8.4MNet borrowing (+) / repaid (−)$7.9MOther investing−$2.6MOther financing−$2.3MCash drawn (+) / kept (−)−$1.8MExchange rates$273KCapital spending−$96K

From profit to cash

Cosmos Health: net income to operating cash flow, Q2 2026Cosmos Health: net income to operating cash flow, Q2 2026Net income−$6.1MDepreciation & amortization$348KStock-based pay$559KDeferred taxes−$2KReceivables−$1.1MInventory$1.1MPayables−$206KPrepaid and other assets−$180KOther liabilities$629KOperating cash flow−$1.7M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 202689267243
Q1 202695317848
Q4 202588307542
Q3 202590348638

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$1.7M−$64K$1.3M$1.1M−$286K−$1.8M
Q1 2026−$1.1M−$11K−$1.4M$1.8M$1.3M−$1.1M
Q4 2025−$4.6M−$8K$1.2M$4.4M$1.2M−$4.6M
Q3 2025−$2.5M−$13K$6.9M$1.0M−$4.0M−$2.5M
Q2 2025−$1.2M−$23K$1.2M—$87K−$1.2M
Q1 2025−$186K−$13K−$170K—−$428K−$199K
Q4 2024−$3.8M−$72K$1.5M—$3.0M−$3.9M
Q3 2024$740K−$229K−$940K—−$3.0M$511K

Cosmos Health: income statement and cash flow

Cosmos Health, Q2 2026: revenue $19.0M (+29% year over year), operating margin -15.4%. The chart follows the revenue to costs, profit and cash.

Cosmos Health: 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.