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Innovative Solutions & Support cash flow, quarter by quarter

Latest: Q3 FY26 · from the cash-flow statements filed with the SEC

Free cash flow$4.6M in Q3 FY26 · $14.3M over twelve months

Operating cash flow$5.1M
Capital spending−$476K
Free cash flow+$4.6M
Cash / net income1.1×
Cash conversion cycle211 days

Analysis

In Q3 FY26, Innovative Solutions & Support generated $5.1M of operating cash flow and spent $476K on capital projects, leaving free cash flow of $4.6M. That is $1.1M more than in Q3 FY25 ($3.5M).

Over the twelve months to Jun 30, 2026, operating cash flow was $18.5M; the largest uses were other investing ($33.0M), capital spending ($4.2M); besides operations, cash came from other financing ($28.8M); the cash balance rose by $10.1M.

Operating cash flow was $5.1M against net income of $4.5M — 1.1× profit, cash ran ahead of reported earnings. The largest differences: payables +$5.3M, inventory −$3.9M, receivables −$2.8M.

Its cash conversion cycle was 211 days (receivables 50 + inventory 212 − payables 50).

Free cash flow

Innovative Solutions & Support: free cash flow by quarterInnovative Solutions & Support: free cash flow by quarter$299KQ4 FY24$1.6MQ1 FY25−$268KQ2 FY25$3.5MQ3 FY25$2.0MQ4 FY25$7.0MQ1 FY26$667KQ2 FY26$4.6MQ3 FY26
Operating cash flow less capital spending.
Innovative Solutions & Support: operating cash flow against capital spendingInnovative Solutions & Support: operating cash flow against capital spendingOperating cash flowCapital spending$445K$146KQ4 FY24$1.8M$261KQ1 FY25$1.3M$1.6MQ2 FY25$7.2M$3.7MQ3 FY25$3.0M$1.0MQ4 FY25$8.2M$1.1MQ1 FY26$2.3M$1.6MQ2 FY26$5.1M$476KQ3 FY26
Latest (Q3 FY26): Operating cash flow $5.1M, Capital spending $476K.

Capital allocation, year by year

Innovative Solutions & Support: where the cash came from (up) and went (down), by fiscal yearInnovative Solutions & Support: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsDividendsFY21: Operating cash flow $4.6MFY21: Shares issued $17KFY21: Capital spending −$341KFY21: Dividends −$19.8M$4.6MFY21FY22: Operating cash flow $6.1MFY22: Shares issued $301KFY22: Asset sales $2.8MFY22: Capital spending −$161K$9.1MFY22FY23: Operating cash flow $2.1MFY23: Net borrowing $19.5MFY23: Shares issued $409KFY23: Capital spending −$298KFY23: Acquisitions −$35.9M$22.0MFY23FY24: Operating cash flow $5.8MFY24: Net borrowing $8.5MFY24: Asset sales $2.2MFY24: Capital spending −$658KFY24: Acquisitions −$14.2M$16.5MFY24FY25: Operating cash flow $13.3MFY25: Net borrowing −$3.7MFY25: Capital spending −$6.5M$13.3MFY25
Over these 5 years operating cash flow totalled $31.9M; the largest uses were acquisitions ($50.1M) and dividends ($19.8M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$10.7M
Debt$54.5M
Net debt$43.8M
Due within a year$2.5M

Innovative Solutions & Support funds itself: free cash flow was $14.3M over the last twelve months, and $10.7M of cash and investments stands against $54.5M of debt ($2.5M due within a year, 4.3× covered by cash).

Innovative Solutions & Support: debt maturities by year (FY25)Innovative Solutions & Support: debt maturities by year (FY25)$2.5MYear 1$2.5MYear 2$2.5MYear 3$2.5MYear 4$14.4MYear 5
Principal due in each year as disclosed in the annual report, against $10.7M of cash and investments now.

Where the cash came from and went

Innovative Solutions & Support: sources (+) and uses (−) of cash, Q3 FY26Innovative Solutions & Support: sources (+) and uses (−) of cash, Q3 FY26Operating cash flow$5.1MCash drawn (+) / kept (−)−$3.9MOther financing−$625KCapital spending−$476KTaxes on employees’ shares−$58K
Innovative Solutions & Support: sources (+) and uses (−) of cash, TTM to Q3 FY26Innovative Solutions & Support: sources (+) and uses (−) of cash, TTM to Q3 FY26Other investing−$33.0MOther financing$28.8MOperating cash flow$18.5MCash drawn (+) / kept (−)−$10.1MCapital spending−$4.2M

From profit to cash

Innovative Solutions & Support: net income to operating cash flow, Q3 FY26Innovative Solutions & Support: net income to operating cash flow, Q3 FY26Net income$4.5MDepreciation & amortization$1.4MStock-based pay$654KDeferred taxes$487KReceivables−$2.8MInventory−$3.9MPayables$5.3MAccrued liabilities$734KDeferred revenue−$824KContract assets−$79KPrepaid and other assets$619KIncome taxes payable−$1.0MOperating cash flow$5.1M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 FY265021250211
Q2 FY265623249238
Q1 FY265825151257
Q4 FY255126149263
Q3 FY254811629135
Q2 FY254414528161
Q1 FY255913921177
Q4 FY246018338205

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 FY26$5.1M−$476K—−$3.9M$4.6M
Q2 FY26$2.3M−$1.6M−$625K$1.5M$667K
Q1 FY26$8.2M−$1.1M−$625K−$5.6M$7.0M
Q4 FY25$3.0M−$1.0M—−$2.1M$2.0M
Q3 FY25$7.2M−$3.7M−$4.1M$624K$3.5M
Q2 FY25$1.3M−$1.6M$1.8M−$621K−$268K
Q1 FY25$1.8M−$261K−$1.5M−$66K$1.6M
Q4 FY24$445K−$146K—−$18K$299K

Innovative Solutions & Support: income statement and cash flow

Innovative Solutions & Support, Q3 FY26: revenue $26.7M (+11% year over year), operating margin 22.6%. The chart follows the revenue to costs, profit and cash.

Innovative Solutions & Support: 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.