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Empire Petroleum cash flow, quarter by quarter

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

Free cash flow−$2.8M in Q2 2026 · −$6.3M over twelve months

Operating cash flow−$2.8M
Capital spending−$95K
Free cash flow−$2.8M

Analysis

In Q2 2026, Empire Petroleum generated −$2.8M of operating cash flow and spent $95K on capital projects, leaving free cash flow of −$2.8M. That is $313K more than in Q2 2025 (−$3.2M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$6.1M; the largest uses were operating cash flow ($6.1M), other investing ($5.3M), capital spending ($121K); besides operations, cash came from other financing ($8.1M), net borrowing (+) / repaid (−) ($4.3M); the cash balance rose by $831K.

Operating cash flow was −$2.8M against net income of −$1.9M. The largest differences: depreciation & amortization +$1.4M, accrued liabilities +$699K, receivables −$678K.

Free cash flow

Empire Petroleum: free cash flow by quarterEmpire Petroleum: free cash flow by quarter$12.8MQ3 2024−$8.8MQ4 2024$1.6MQ1 2025−$3.2MQ2 2025$318KQ3 2025−$2.8MQ4 2025−$983KQ1 2026−$2.8MQ2 2026
Operating cash flow less capital spending.
Empire Petroleum: operating cash flow against capital spendingEmpire Petroleum: operating cash flow against capital spendingOperating cash flowCapital spending$12.8M$0Q3 2024−$8.8M$13KQ4 2024$1.6M$18KQ1 2025−$3.1M$23KQ2 2025$330K$12KQ3 2025−$2.8M$1KQ4 2025−$970K$13KQ1 2026−$2.8M$95KQ2 2026
Latest (Q2 2026): Operating cash flow −$2.8M, Capital spending $95K.

Capital allocation, year by year

Empire Petroleum: where the cash came from (up) and went (down), by fiscal yearEmpire Petroleum: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingFY2021: Operating cash flow $3.2MFY2021: Net borrowing $13.6MFY2021: Shares issued $8.1MFY2021: Capital spending −$19.5M$24.8MFY2021FY2022: Operating cash flow $18.1MFY2022: Net borrowing −$1.7MFY2022: Capital spending −$2.7M$18.1MFY2022FY2023: Operating cash flow −$9.9MFY2023: Net borrowing $8.0MFY2023: Capital spending −$2.1M$8.0MFY2023FY2024: Operating cash flow $6.2MFY2024: Net borrowing $11.7MFY2024: Shares issued $30.5MFY2024: Capital spending −$152K$48.3MFY2024FY2025: Operating cash flow −$3.9MFY2025: Net borrowing $5.0MFY2025: Shares issued $2.4MFY2025: Asset sales $51KFY2025: Capital spending −$54K$7.4MFY2025
Over these 5 years operating cash flow totalled $13.5M; the largest uses were capital spending ($24.5M) and operating cash flow ($13.8M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$3.1M
Debt$15.2M
Net debt$12.1M
Due within a year$1.6M
Cash runway6 months

Empire Petroleum is burning cash: its operations consume cash, a free cash flow of −$6.3M a year at the current rate against $3.1M of cash and investments: a runway of about 6 months; $1.6M of debt also comes due within a year, which would need refinancing or new money before any new financing.

Where the cash came from and went

Empire Petroleum: sources (+) and uses (−) of cash, Q2 2026Empire Petroleum: sources (+) and uses (−) of cash, Q2 2026Cash drawn (+) / kept (−)$5.7MOperating cash flow−$2.8MOther investing−$2.6MNet borrowing (+) / repaid (−)−$219KCapital spending−$95K
Empire Petroleum: sources (+) and uses (−) of cash, TTM to Q2 2026Empire Petroleum: sources (+) and uses (−) of cash, TTM to Q2 2026Other financing$8.1MOperating cash flow−$6.1MOther investing−$5.3MNet borrowing (+) / repaid (−)$4.3MCash drawn (+) / kept (−)−$831KCapital spending−$121K

From profit to cash

Empire Petroleum: net income to operating cash flow, Q2 2026Empire Petroleum: net income to operating cash flow, Q2 2026Net income−$1.9MDepreciation & amortization$1.4MStock-based pay$208KReceivables−$678KInventory$67KAccrued liabilities$699KPrepaid and other assets$321KOperating cash flow−$2.8M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$2.8M−$95K−$219K—$5.7M−$2.8M
Q1 2026−$970K−$13K—$9.9M−$7.6M−$983K
Q4 2025−$2.8M−$1K−$210K—$3.4M−$2.8M
Q3 2025$330K−$12K$1.8M—−$2.3M$318K
Q2 2025−$3.1M−$23K−$200K—−$1.2M−$3.2M
Q1 2025$1.6M−$18K−$21K—$1.2M$1.6M
Q4 2024−$8.8M−$13K$2.7M$10.0M$899K−$8.8M
Q3 2024$12.8M—−$159K—$6.1M$12.8M

Empire Petroleum: income statement and cash flow

Empire Petroleum, Q2 2026: revenue $9.5M (+9% year over year), operating margin -16.2%. The chart follows the revenue to costs, profit and cash.

Empire Petroleum: 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.