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electroCore cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$2.8M in Q3 2026 · −$10.9M over twelve months

Operating cash flow−$2.8M
Free cash flow−$2.8M
Cash conversion cycle43 days

Analysis

In Q3 2026, electroCore generated −$2.8M of operating cash flow. That is $1.2M less than in Q3 2025 (−$1.7M).

Over the twelve months to Sep 30, 2026, operating cash flow was −$10.9M; the largest uses were operating cash flow ($10.9M), capital spending ($6K); besides operations, cash came from other financing ($4.2M), other investing ($3.9M); the cash balance fell by $1.8M.

Operating cash flow was −$2.8M against net income of −$1.3M. The largest differences: inventory −$1.6M, payables +$1.2M, receivables −$706K.

Its cash conversion cycle was 43 days (receivables 12 + inventory 263 − payables 232).

Free cash flow

electroCore: free cash flow by quarterelectroCore: free cash flow by quarter−$1.3MQ4 2024−$4.4MQ1 2025−$648KQ2 2025−$1.7MQ3 2025−$1.5MQ4 2025−$3.0MQ1 2026−$3.5MQ2 2026−$2.8MQ3 2026
Operating cash flow less capital spending.
electroCore: operating cash flow against capital spendingelectroCore: operating cash flow against capital spendingOperating cash flowCapital spending−$1.3M$0Q4 2024−$4.4M$37KQ1 2025−$623K$25KQ2 2025−$1.7M$4KQ3 2025−$1.5M$0Q4 2025−$3.0M$2KQ1 2026−$3.5M$4KQ2 2026−$2.8M$0Q3 2026
Latest (Q3 2026): Operating cash flow −$2.8M, Capital spending $0.

Capital allocation, year by year

electroCore: where the cash came from (up) and went (down), by fiscal yearelectroCore: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingFY2021: Operating cash flow −$13.6MFY2021FY2022: Operating cash flow −$16.6MFY2022FY2023: Operating cash flow −$14.7MFY2023: Shares issued $8.1MFY2023: Capital spending −$206K$8.1MFY2023FY2024: Operating cash flow −$6.9MFY2024FY2025: Operating cash flow −$8.2MFY2025: Net borrowing $7.5MFY2025: Shares issued $98KFY2025: Capital spending −$66K$7.6MFY2025
Over these 5 years operating cash flow totalled −$60.1M; the largest uses were operating cash flow ($60.1M) and capital spending ($272K). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$7.5M
Debt$8.2M
Net debt$731K
Cash runway8 months

electroCore is burning cash: its operations consume cash, a free cash flow of −$10.9M a year at the current rate against $7.5M of cash and investments: a runway of about 8 months before any new financing.

electroCore: debt maturities by year (FY2025)electroCore: debt maturities by year (FY2025)$2.5MYear 2$3.0MYear 3$2.3MYear 4
Principal due in each year as disclosed in the annual report, against $7.5M of cash and investments now.

Where the cash came from and went

electroCore: sources (+) and uses (−) of cash, Q3 2026electroCore: sources (+) and uses (−) of cash, Q3 2026Operating cash flow−$2.8MCash drawn (+) / kept (−)$2.2MOther investing$348KShares issued$206KOther financing$82KExchange rates−$2K
electroCore: sources (+) and uses (−) of cash, TTM to Q3 2026electroCore: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow−$10.9MOther financing$4.2MOther investing$3.9MCash drawn (+) / kept (−)$1.8MShares issued$1.0MExchange rates−$21KCapital spending−$6K

From profit to cash

electroCore: net income to operating cash flow, Q3 2026electroCore: net income to operating cash flow, Q3 2026Net income−$1.3MDepreciation & amortization$9KStock-based pay$617KReceivables−$706KInventory−$1.6MPayables$1.2MAccrued liabilities−$303KPrepaid and other assets−$619KOperating cash flow−$2.8M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20261226323243
Q2 2026915715610
Q1 20269133180-38
Q4 202512122248-114
Q3 202512100213-101
Q2 202514153210-43
Q1 20251915116011
Q4 20241316814239

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026−$2.8M——$206K$2.2M−$2.8M
Q2 2026−$3.5M−$4K—$819K−$3.6M−$3.5M
Q1 2026−$3.0M−$2K—$962K$2.2M−$3.0M
Q4 2025−$1.5M—$95K—$1.1M−$1.5M
Q3 2025−$1.7M−$4K—$53K−$4.5M−$1.7M
Q2 2025−$623K−$25K——$404K−$648K
Q1 2025−$4.4M−$37K——−$327K−$4.4M
Q4 2024−$1.3M———$1.5M−$1.3M

electroCore: income statement and cash flow

electroCore, Q3 2026: revenue $9.7M (+12% year over year), operating margin -16.1%. The chart follows the revenue to costs, profit and cash.

electroCore: 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.