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SeaStar Medical Holding cash flow, quarter by quarter

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

Free cash flow−$3.0M in Q2 2026 · −$13.7M over twelve months

Operating cash flow−$3.0M
Free cash flow−$3.0M
Cash conversion cycle-1096 days

Analysis

In Q2 2026, SeaStar Medical Holding generated −$3.0M of operating cash flow. That is $13K more than in Q2 2025 (−$3.0M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$13.7M; the largest uses were operating cash flow ($13.7M), net borrowing (+) / repaid (−) ($647K); besides operations, cash came from shares issued ($12.1M), other financing ($2.9M); the cash balance rose by $657K.

Operating cash flow was −$3.0M against net income of −$3.7M. The largest differences: accrued liabilities +$571K, stock-based pay −$99K, prepaid and other assets +$78K.

Its cash conversion cycle was -1096 days (receivables 29 + inventory 113 − payables 1238): suppliers fund its working capital.

Free cash flow

SeaStar Medical Holding: free cash flow by quarterSeaStar Medical Holding: free cash flow by quarter−$5.0MQ3 2024−$4.7MQ4 2024−$2.7MQ1 2025−$3.0MQ2 2025−$3.8MQ3 2025−$4.1MQ4 2025−$2.8MQ1 2026−$3.0MQ2 2026
Operating cash flow less capital spending.
SeaStar Medical Holding: operating cash flow against capital spendingSeaStar Medical Holding: operating cash flow against capital spendingOperating cash flowCapital spending−$5.0M$0Q3 2024−$4.7M$0Q4 2024−$2.7M$0Q1 2025−$3.0M$0Q2 2025−$3.8M$0Q3 2025−$4.1M$0Q4 2025−$2.8M$0Q1 2026−$3.0M$0Q2 2026
Latest (Q2 2026): Operating cash flow −$3.0M, Capital spending $0.

Capital allocation, year by year

SeaStar Medical Holding: where the cash came from (up) and went (down), by fiscal yearSeaStar Medical Holding: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedFY2021: Operating cash flow −$5.1MFY2021: Net borrowing $2.7MFY2021: Shares issued $101M$104MFY2021FY2022: Operating cash flow −$7.8MFY2022: Net borrowing $1.7M$1.7MFY2022FY2023: Operating cash flow −$10.3MFY2023: Net borrowing $7.6MFY2023: Shares issued $4.7M$12.3MFY2023FY2024: Operating cash flow −$16.0MFY2024: Net borrowing $387KFY2024: Shares issued $17.4M$17.8MFY2024FY2025: Operating cash flow −$13.6MFY2025: Shares issued $16.1M$16.1MFY2025
Over these 5 years operating cash flow totalled −$52.8M; the largest uses were operating cash flow ($52.8M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$7.0M
Debtnone
Net cash$7.0M
Cash runway6 months

SeaStar Medical Holding is burning cash: its operations consume cash, a free cash flow of −$13.7M a year at the current rate against $7.0M of cash and investments: a runway of about 6 months before any new financing.

Where the cash came from and went

SeaStar Medical Holding: sources (+) and uses (−) of cash, Q2 2026SeaStar Medical Holding: sources (+) and uses (−) of cash, Q2 2026Operating cash flow−$3.0MCash drawn (+) / kept (−)$2.4MShares issued$810KNet borrowing (+) / repaid (−)−$205K
SeaStar Medical Holding: sources (+) and uses (−) of cash, TTM to Q2 2026SeaStar Medical Holding: sources (+) and uses (−) of cash, TTM to Q2 2026Operating cash flow−$13.7MShares issued$12.1MOther financing$2.9MCash drawn (+) / kept (−)−$657KNet borrowing (+) / repaid (−)−$647K

From profit to cash

SeaStar Medical Holding: net income to operating cash flow, Q2 2026SeaStar Medical Holding: net income to operating cash flow, Q2 2026Net income−$3.7MStock-based pay−$99KReceivables−$29KInventory−$20KPayables$31KAccrued liabilities$571KPrepaid and other assets$78KOperating cash flow−$3.0M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 2026291131238-1096
Q1 2026381201631-1473
Q4 20255057111370-10748
Q3 202511052617007-16371
Q2 20254420411046-10798

Every quarter

QuarterOperating cash flowNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$3.0M−$205K$810K$2.4M−$3.0M
Q1 2026−$2.8M−$200K$329K$2.6M−$2.8M
Q4 2025−$4.1M—$1.8M$1.8M−$4.1M
Q3 2025−$3.8M—$9.2M−$7.5M−$3.8M
Q2 2025−$3.0M−$370K$3.6M−$1.0M−$3.0M
Q1 2025−$2.7M−$222K$1.6M−$3.5M−$2.7M
Q4 2024−$4.7M—$3.9M$263K−$4.7M
Q3 2024−$5.0M−$3.2M$9.1M−$903K−$5.0M

SeaStar Medical Holding: income statement and cash flow

SeaStar Medical Holding, Q2 2026: revenue $615K (+82% year over year), operating margin -616.4%. The chart follows the revenue to costs, profit and cash.

SeaStar Medical Holding: 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.