Intest cash flow, quarter by quarter

In Q1 2026, Intest generated −$3.3M of operating cash flow and spent $644K on capital projects, leaving free cash flow of −$4.0M. That is $9.3M less than in Q1 2025 ($5.3M).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.7M; the largest uses were net borrowing (+) / repaid (−) ($4.1M), capital spending ($1.9M); besides operations, cash came from shares issued ($3.5M), other financing ($934K); the cash balance fell by $223K.

Operating cash flow was −$3.3M against net income of $183K — -18.1× profit, less cash than reported earnings, worth checking against working capital. The largest differences: receivables −$3.8M, payables −$2.3M, depreciation & amortization +$1.6M.

Its cash conversion cycle was 171 days (receivables 74 + inventory 143 − payables 47).

Intest is burning cash: its operations consume cash, a free cash flow of −$15.8M a year at the current rate against $14.2M of cash and investments: a runway of about 11 months; $6.1M of debt also comes due within a year, which would need refinancing or new money before any new financing.