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iSpecimen cash flow, quarter by quarter

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

Free cash flow−$690K in Q2 2026 · −$7.0M over twelve months

Operating cash flow−$690K
Free cash flow−$690K

Analysis

In Q2 2026, iSpecimen generated −$690K of operating cash flow. That is $497K less than in Q2 2025 (−$192K).

Over the twelve months to Jun 30, 2026, operating cash flow was −$7.0M; the largest uses were operating cash flow ($7.0M), other investing ($1.7M); besides operations, cash came from other financing ($8.7M), shares issued ($3.8M); the cash balance rose by $3.8M.

Operating cash flow was −$690K against net income of −$1.4M. The largest differences: prepaid and other assets +$483K, depreciation & amortization +$201K, receivables +$116K.

Free cash flow

iSpecimen: free cash flow by quarteriSpecimen: free cash flow by quarter−$1.1MQ3 2024−$3.6MQ4 2024−$1.1MQ1 2025−$192KQ2 2025−$2.0MQ3 2025−$917KQ4 2025−$3.4MQ1 2026−$690KQ2 2026
Operating cash flow less capital spending.
iSpecimen: operating cash flow against capital spendingiSpecimen: operating cash flow against capital spendingOperating cash flowCapital spending−$1.1M$15KQ3 2024−$3.6M$8KQ4 2024−$1.1M$0Q1 2025−$192K$0Q2 2025−$2.0M$0Q3 2025−$917K$0Q4 2025−$3.4M$0Q1 2026−$690K$0Q2 2026
Latest (Q2 2026): Operating cash flow −$690K, Capital spending $0.

Capital allocation, year by year

iSpecimen: where the cash came from (up) and went (down), by fiscal yeariSpecimen: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingFY2021: Operating cash flow −$10.7MFY2021: Net borrowing $500KFY2021: Shares issued $2.6MFY2021: Capital spending −$3K$3.1MFY2021FY2022: Operating cash flow −$5.8MFY2022: Net borrowing −$3.5MFY2022: Shares issued $79KFY2022: Capital spending −$216K$79KFY2022FY2023: Operating cash flow −$5.8MFY2023: Shares issued $71KFY2023: Capital spending −$19K$71KFY2023FY2024: Operating cash flow −$8.3MFY2024: Shares issued $398KFY2024: Capital spending −$32K$398KFY2024FY2025: Operating cash flow −$4.2MFY2025: Shares issued $9.5MFY2025: Capital spending −$454$9.5MFY2025
Over these 5 years operating cash flow totalled −$34.8M; the largest uses were operating cash flow ($34.8M) and net borrowing ($3.5M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$4.4M
Debtnone
Net cash$4.4M
Cash runway8 months

iSpecimen is burning cash: its operations consume cash, a free cash flow of −$7.0M a year at the current rate against $4.4M of cash and investments: a runway of about 8 months before any new financing.

Where the cash came from and went

iSpecimen: sources (+) and uses (−) of cash, Q2 2026iSpecimen: sources (+) and uses (−) of cash, Q2 2026Not reconciled$2.3MCash drawn (+) / kept (−)−$1.6MOperating cash flow−$690K
iSpecimen: sources (+) and uses (−) of cash, TTM to Q2 2026iSpecimen: sources (+) and uses (−) of cash, TTM to Q2 2026Other financing$8.7MOperating cash flow−$7.0MCash drawn (+) / kept (−)−$3.8MShares issued$3.8MOther investing−$1.7M

From profit to cash

iSpecimen: net income to operating cash flow, Q2 2026iSpecimen: net income to operating cash flow, Q2 2026Net income−$1.4MDepreciation & amortization$201KStock-based pay$153Receivables$116KPayables−$35KAccrued liabilities−$24KDeferred revenue−$65KPrepaid and other assets$483KOperating cash flow−$690K
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingShares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$690K——−$1.6M−$690K
Q1 2026−$3.4M——$4.1M−$3.4M
Q4 2025−$917K—$2.2M−$4.1M−$917K
Q3 2025−$2.0M—$1.8M−$2.2M−$2.0M
Q2 2025−$192K——$194K−$192K
Q1 2025−$1.1M——$1.1M−$1.1M
Q4 2024−$3.6M−$8K−$1.1M−$127K−$3.6M
Q3 2024−$1.1M−$15K—$399K−$1.1M

iSpecimen: income statement and cash flow

iSpecimen, Q2 2026: revenue $152K (-79% year over year), operating margin -897.1%. The chart follows the revenue to costs, profit and cash.

iSpecimen: 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.