Filing Flows

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Forum Markets cash flow, quarter by quarter

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

Free cash flow−$12.4M in Q2 2026 · −$56.6M over twelve months

Operating cash flow−$12.4M
Free cash flow−$12.4M
Cash conversion cycle-1 days

Analysis

In Q2 2026, Forum Markets generated −$12.4M of operating cash flow. That is $10.9M less than in Q2 2025 (−$1.5M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$56.6M; the largest uses were operating cash flow ($56.6M), net borrowing (+) / repaid (−) ($612K); besides operations, cash came from other financing ($133M); the cash balance rose by $1.9M.

Operating cash flow was −$12.4M against net income of −$12.8M. The largest differences: accrued liabilities −$4.5M, stock-based pay +$3.8M, prepaid and other assets −$1.7M.

Its cash conversion cycle was -1 days (receivables 47 + inventory 0 − payables 47): suppliers fund its working capital.

Free cash flow

Forum Markets: free cash flow by quarterForum Markets: free cash flow by quarter−$240KQ3 2024−$625KQ4 2024−$887KQ1 2025−$1.5MQ2 2025−$16.0MQ3 2025−$8.4MQ4 2025−$37.3MQ1 2026−$12.4MQ2 2026
Operating cash flow less capital spending.
Forum Markets: operating cash flow against capital spendingForum Markets: operating cash flow against capital spendingOperating cash flowCapital spending−$240K$0Q3 2024−$625K$0Q4 2024−$887K$0Q1 2025−$1.5M$0Q2 2025−$16.0M$0Q3 2025−$7.6M$795KQ4 2025−$20.4M$16.8MQ1 2026−$12.4M$0Q2 2026
Latest (Q2 2026): Operating cash flow −$12.4M, Capital spending $0.

Capital allocation, year by year

Forum Markets: where the cash came from (up) and went (down), by fiscal yearForum Markets: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingBuybacksFY2021: Operating cash flow −$19.4MFY2021: Net borrowing $1.6MFY2021: Shares issued $26.7M$28.3MFY2021FY2022: Operating cash flow −$12.1MFY2022: Net borrowing $980KFY2022: Shares issued $6.3M$7.3MFY2022FY2023: Operating cash flow −$10.9MFY2023: Net borrowing −$288KFY2023: Shares issued $89K$89KFY2023FY2024: Operating cash flow −$1.2MFY2024: Net borrowing −$1.3MFY2024: Shares issued $2.6M$2.6MFY2024FY2025: Operating cash flow −$26.1MFY2025: Net borrowing $507MFY2025: Shares issued $455KFY2025: Capital spending −$244MFY2025: Buybacks −$46.3M$508MFY2025
Over these 5 years operating cash flow totalled −$69.6M; the largest uses were capital spending ($244M) and operating cash flow ($69.6M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$48.1M
Debt$17.2M
Net cash$30.9M
Due within a year$2.9M
Cash runway10 months

Forum Markets is burning cash: its operations consume cash, a free cash flow of −$56.6M a year at the current rate against $48.1M of cash and investments: a runway of about 10 months; $2.9M 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

Forum Markets: sources (+) and uses (−) of cash, Q2 2026Forum Markets: sources (+) and uses (−) of cash, Q2 2026Cash drawn (+) / kept (−)$61.8MOther financing−$31.6MOther investing−$17.8MOperating cash flow−$12.4M
Forum Markets: sources (+) and uses (−) of cash, TTM to Q2 2026Forum Markets: sources (+) and uses (−) of cash, TTM to Q2 2026Other financing$133MNot reconciled−$73.6MOperating cash flow−$56.6MCash drawn (+) / kept (−)−$1.9MNet borrowing (+) / repaid (−)−$612K

From profit to cash

Forum Markets: net income to operating cash flow, Q2 2026Forum Markets: net income to operating cash flow, Q2 2026Net income−$12.8MDepreciation & amortization$936KStock-based pay$3.8MReceivables−$649KPayables$134KAccrued liabilities−$4.5MPrepaid and other assets−$1.7MOperating cash flow−$12.4M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$12.4M————$61.8M−$12.4M
Q1 2026−$20.4M−$16.8M———−$56.9M−$37.3M
Q4 2025−$7.6M−$795K−$30.1M−$235K$381K$550M−$8.4M
Q3 2025−$16.0M—−$16.1M−$125K—−$557M−$16.0M
Q2 2025−$1.5M————$1.5M−$1.5M
Q1 2025−$887K——−$3K—$890K−$887K
Q4 2024−$625K——−$310K—−$4.4M−$625K
Q3 2024−$240K——−$467K—$727K−$240K

Forum Markets: income statement and cash flow

Forum Markets, Q2 2026: revenue $1.4M, operating margin -728.4%. The chart follows the revenue to costs, profit and cash.

Forum Markets: 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.