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Emmaus Life Sciences cash flow, quarter by quarter

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

Free cash flow$1.7M in Q2 2026 · $4.0M over twelve months

Operating cash flow$1.7M
Free cash flow+$1.7M
Cash / net income1.3×
Cash conversion cycle-861 days

Analysis

In Q2 2026, Emmaus Life Sciences generated $1.7M of operating cash flow. That is $4.6M more than in Q2 2025 (−$2.9M).

Over the twelve months to Jun 30, 2026, operating cash flow was $4.0M; the largest uses were net borrowing (+) / repaid (−) ($3.5M), other financing ($108K), capital spending ($2K); besides operations, cash came from other investing ($1.6M); the cash balance rose by $1.9M.

Operating cash flow was $1.7M against net income of $1.3M — 1.3× profit, cash ran ahead of reported earnings. The largest differences: receivables +$1.3M, other liabilities −$1.3M, payables −$1.0M.

Its cash conversion cycle was -861 days (receivables 20 + inventory 463 − payables 1344): suppliers fund its working capital.

Free cash flow

Emmaus Life Sciences: free cash flow by quarterEmmaus Life Sciences: free cash flow by quarter$149KQ3 2024$337KQ4 2024$279KQ1 2025−$2.9MQ2 2025$409KQ3 2025$2.2MQ4 2025−$344KQ1 2026$1.7MQ2 2026
Operating cash flow less capital spending.
Emmaus Life Sciences: operating cash flow against capital spendingEmmaus Life Sciences: operating cash flow against capital spendingOperating cash flowCapital spending$148K−$1KQ3 2024$343K$6KQ4 2024$279K$0Q1 2025−$2.9M$0Q2 2025$409K$0Q3 2025$2.2M$0Q4 2025−$344K$0Q1 2026$1.7M$0Q2 2026
Latest (Q2 2026): Operating cash flow $1.7M, Capital spending $0.

Capital allocation, year by year

Emmaus Life Sciences: where the cash came from (up) and went (down), by fiscal yearEmmaus Life Sciences: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingFY2021: Operating cash flow −$1.3MFY2021: Net borrowing $7.3MFY2021: Capital spending −$73K$7.3MFY2021FY2022: Operating cash flow −$5.1MFY2022: Net borrowing $6.5MFY2022: Capital spending −$26K$6.5MFY2022FY2023: Operating cash flow −$1.5MFY2023: Net borrowing −$6.4MFY2023: Capital spending −$17KFY2023FY2024: Operating cash flow −$2.3MFY2024: Net borrowing −$455KFY2024: Asset sales $4KFY2024: Capital spending −$12K$4KFY2024FY2025: Operating cash flow −$11KFY2025: Net borrowing −$975KFY2025: Capital spending −$1KFY2025
Over these 5 years operating cash flow totalled −$10.1M; the largest uses were operating cash flow ($10.1M) and net borrowing ($7.8M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$2.8M
Debt$25.0M
Net debt$22.2M

Emmaus Life Sciences funds itself: free cash flow was $4.0M over the last twelve months, and $2.8M of cash and investments stands against $25.0M of debt.

Where the cash came from and went

Emmaus Life Sciences: sources (+) and uses (−) of cash, Q2 2026Emmaus Life Sciences: sources (+) and uses (−) of cash, Q2 2026Cash drawn (+) / kept (−)−$1.7MOperating cash flow$1.7MOther investing$1.6MNet borrowing (+) / repaid (−)−$1.4MOther financing−$90K
Emmaus Life Sciences: sources (+) and uses (−) of cash, TTM to Q2 2026Emmaus Life Sciences: sources (+) and uses (−) of cash, TTM to Q2 2026Operating cash flow$4.0MNet borrowing (+) / repaid (−)−$3.5MCash drawn (+) / kept (−)−$1.9MOther investing$1.6MOther financing−$108KExchange rates−$21KCapital spending−$2K

From profit to cash

Emmaus Life Sciences: net income to operating cash flow, Q2 2026Emmaus Life Sciences: net income to operating cash flow, Q2 2026Net income$1.3MDepreciation & amortization$14KReceivables$1.3MInventory$316KPayables−$1.0MPrepaid and other assets$69KOther liabilities−$1.3MOperating 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 2026204631344-861
Q1 20261109283158-2120
Q4 2025655422220-1613
Q3 2025644701848-1314
Q2 2025678342842-1941
Q1 2025886141996-1294
Q4 20241064831736-1148
Q3 2024803781600-1142

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q2 2026$1.7M—−$1.4M−$1.7M$1.7M
Q1 2026−$344K——$1.1M−$344K
Q4 2025$2.2M——−$1.8M$2.2M
Q3 2025$409K—−$1.0M$592K$409K
Q2 2025−$2.9M——$448K−$2.9M
Q1 2025$279K——$56K$279K
Q4 2024$343K−$6K$780K−$134K$337K
Q3 2024$148K$1K—$270K$149K

Emmaus Life Sciences: income statement and cash flow

Emmaus Life Sciences, Q2 2026: revenue $6.3M (+124% year over year), operating margin 60.0%. The chart follows the revenue to costs, profit and cash.

Emmaus Life Sciences: 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.