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Opus Genetics cash flow, quarter by quarter

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

Free cash flow−$11.9M in Q2 2026 · −$40.7M over twelve months

Operating cash flow−$11.9M
Free cash flow−$11.9M

Analysis

In Q2 2026, Opus Genetics generated −$11.9M of operating cash flow. That is $1.7M less than in Q2 2025 (−$10.3M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$40.7M; the largest uses were operating cash flow ($40.7M); besides operations, cash came from other financing ($87.9M), shares issued ($9.2M); the cash balance rose by $56.5M.

Operating cash flow was −$11.9M against net income of −$8.1M. The largest differences: payables −$2.6M, prepaid and other assets +$1.5M, stock-based pay +$1.4M.

Free cash flow

Opus Genetics: free cash flow by quarterOpus Genetics: free cash flow by quarter−$5.1MQ3 2024−$7.4MQ4 2024−$9.0MQ1 2025−$10.3MQ2 2025−$6.2MQ3 2025−$9.8MQ4 2025−$12.7MQ1 2026−$11.9MQ2 2026
Operating cash flow less capital spending.
Opus Genetics: operating cash flow against capital spendingOpus Genetics: operating cash flow against capital spendingOperating cash flowCapital spending−$5.1M$0Q3 2024−$7.4M$0Q4 2024−$9.0M$0Q1 2025−$10.3M$0Q2 2025−$6.2M$0Q3 2025−$9.8M$0Q4 2025−$12.7M$0Q1 2026−$11.9M$0Q2 2026
Latest (Q2 2026): Operating cash flow −$11.9M, Capital spending $0.

Capital allocation, year by year

Opus Genetics: where the cash came from (up) and went (down), by fiscal yearOpus Genetics: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedFY2021: Operating cash flow −$19.4MFY2021: Shares issued $28.6M$28.6MFY2021FY2022: Operating cash flow $14.3MFY2022: Net borrowing −$538KFY2022: Shares issued $4.5M$18.8MFY2022FY2023: Operating cash flow −$1.1MFY2023: Shares issued $9.3M$9.3MFY2023FY2024: Operating cash flow −$25.6MFY2024: Shares issued $4.5M$4.5MFY2024FY2025: Operating cash flow −$35.3MFY2025: Shares issued $6.2M$6.2MFY2025
Over these 5 years operating cash flow totalled −$67.0M; the largest uses were operating cash flow ($81.3M) and net borrowing ($538K). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$88.8M
Debt$35.3M
Net cash$53.5M
Cash runway2.2 years

Opus Genetics is burning cash: its operations consume cash, a free cash flow of −$40.7M a year at the current rate against $88.8M of cash and investments: a runway of about 2.2 years before any new financing.

Where the cash came from and went

Opus Genetics: sources (+) and uses (−) of cash, Q2 2026Opus Genetics: sources (+) and uses (−) of cash, Q2 2026Other financing$40.4MCash drawn (+) / kept (−)−$29.0MOperating cash flow−$11.9MShares issued$484K
Opus Genetics: sources (+) and uses (−) of cash, TTM to Q2 2026Opus Genetics: sources (+) and uses (−) of cash, TTM to Q2 2026Other financing$87.9MCash drawn (+) / kept (−)−$56.5MOperating cash flow−$40.7MShares issued$9.2M

From profit to cash

Opus Genetics: net income to operating cash flow, Q2 2026Opus Genetics: net income to operating cash flow, Q2 2026Net income−$8.1MDepreciation & amortization$14KStock-based pay$1.4MReceivables$690KPayables−$2.6MAccrued liabilities$804KPrepaid and other assets$1.5MOperating cash flow−$11.9M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowShares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$11.9M$484K−$29.0M−$11.9M
Q1 2026−$12.7M$28.0M−$14.9M−$12.7M
Q4 2025−$9.8M$504K−$14.3M−$9.8M
Q3 2025−$6.2M$5.2M$1.6M−$6.2M
Q2 2025−$10.3M—$9.4M−$10.3M
Q1 2025−$9.0M$414K−$11.5M−$9.0M
Q4 2024−$7.4M—$6.3M−$7.4M
Q3 2024−$5.1M$456K$4.8M−$5.1M

Opus Genetics: income statement and cash flow

Opus Genetics, Q2 2026: revenue $755K (-74% year over year). The chart follows the revenue to costs, profit and cash.

Opus Genetics: 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.