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Healthcare Triangle cash flow, quarter by quarter

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

Free cash flow−$833K in Q2 2026 · −$16.0M over twelve months

Operating cash flow−$833K
Free cash flow−$833K
Cash conversion cycle43 days

Analysis

In Q2 2026, Healthcare Triangle generated −$833K of operating cash flow. That is $1.8M more than in Q2 2025 (−$2.6M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$16.0M; the largest uses were other financing ($73.7M), operating cash flow ($16.0M), other investing ($10.4M); besides operations, cash came from net borrowing (+) / repaid (−) ($86.0M), shares issued ($12.8M); the cash balance fell by $1.4M.

Operating cash flow was −$833K against net income of −$4.4M. The largest differences: receivables +$2.1M, prepaid and other assets +$926K, depreciation & amortization +$529K.

Its cash conversion cycle was 43 days (receivables 72 + inventory 0 − payables 29).

Free cash flow

Healthcare Triangle: free cash flow by quarterHealthcare Triangle: free cash flow by quarter$715KQ3 2024−$811KQ4 2024−$5.6MQ1 2025−$2.6MQ2 2025−$1.5MQ3 2025−$6.8MQ4 2025−$12.1MQ1 2026−$833KQ2 2026
Operating cash flow less capital spending.
Healthcare Triangle: operating cash flow against capital spendingHealthcare Triangle: operating cash flow against capital spendingOperating cash flowCapital spending$715K$0Q3 2024−$811K$0Q4 2024−$5.6M$0Q1 2025−$2.6M$0Q2 2025−$1.5M$3KQ3 2025−$6.8M$0Q4 2025−$6.9M$5.2MQ1 2026−$833K$0Q2 2026
Latest (Q2 2026): Operating cash flow −$833K, Capital spending $0.

Capital allocation, year by year

Healthcare Triangle: where the cash came from (up) and went (down), by fiscal yearHealthcare Triangle: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingBuybacksFY2021: Operating cash flow −$7.1MFY2021: Shares issued $14.2M$14.2MFY2021FY2022: Operating cash flow −$5.4MFY2022: Shares issued $5.9MFY2022: Capital spending −$40KFY2022: Buybacks −$141K$5.9MFY2022FY2023: Operating cash flow −$2.2MFY2023: Net borrowing $1.6MFY2023: Shares issued $500KFY2023: Capital spending −$12K$2.1MFY2023FY2024: Operating cash flow −$1.1MFY2024: Shares issued $956K$956KFY2024FY2025: Operating cash flow −$16.5MFY2025: Net borrowing $9.4MFY2025: Shares issued $9.8MFY2025: Capital spending −$13K$19.2MFY2025
Over these 5 years operating cash flow totalled −$32.2M; the largest uses were operating cash flow ($32.2M) and buybacks ($141K). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$1.9M
Debt$17.3M
Net debt$15.4M
Due within a year$14.6M
Cash runway1 month

Healthcare Triangle is burning cash: its operations consume cash, a free cash flow of −$16.0M a year at the current rate against $1.9M of cash and investments: a runway of about 1 month; $14.6M 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

Healthcare Triangle: sources (+) and uses (−) of cash, Q2 2026Healthcare Triangle: sources (+) and uses (−) of cash, Q2 2026Other investing−$3.2MCash drawn (+) / kept (−)$2.4MOther financing$1.2MOperating cash flow−$833KShares issued$537KExchange rates−$68K
Healthcare Triangle: sources (+) and uses (−) of cash, TTM to Q2 2026Healthcare Triangle: sources (+) and uses (−) of cash, TTM to Q2 2026Net borrowing (+) / repaid (−)$86.0MOther financing−$73.7MOperating cash flow−$16.0MShares issued$12.8MOther investing−$10.4MCash drawn (+) / kept (−)$1.4M

From profit to cash

Healthcare Triangle: net income to operating cash flow, Q2 2026Healthcare Triangle: net income to operating cash flow, Q2 2026Net income−$4.4MDepreciation & amortization$529KReceivables$2.1MPrepaid and other assets$926KOther liabilities$244KOperating cash flow−$833K
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 202672—2943
Q1 202648—2423
Q4 202566—3531
Q3 202557—543
Q2 202548—55-7
Q1 202537—55-19
Q4 202457—115-58
Q3 202469—115-46

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$833K———$537K$2.4M−$833K
Q1 2026−$6.9M−$5.2M−$6.0M−$34.0M$484K$3.3M−$12.1M
Q4 2025−$6.8M——$10.7M—−$6.0M−$6.8M
Q3 2025−$1.5M−$3K———$1.6M−$1.5M
Q2 2025−$2.6M——−$186K—$3.6M−$2.6M
Q1 2025−$5.6M——−$1.3M$13.7M−$6.8M−$5.6M
Q4 2024−$811K——$803K—$8K−$811K
Q3 2024$715K——−$716K—$1K$715K

Healthcare Triangle: income statement and cash flow

Healthcare Triangle, Q2 2026: revenue $9.2M (+158% year over year), operating margin -44.3%. The chart follows the revenue to costs, profit and cash.

Healthcare Triangle: 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.