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Joint cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$509K in Q3 2026 · $2.3M over twelve months

Operating cash flow−$128K
Capital spending−$380K
Free cash flow−$509K
Cash conversion cycle-19 days

Analysis

In Q3 2026, Joint generated −$128K of operating cash flow and spent $380K on capital projects, leaving free cash flow of −$509K. That is $2.0M less than in Q3 2025 ($1.5M).

Over the twelve months to Sep 30, 2026, operating cash flow was $3.5M; the largest uses were buybacks ($14.7M), capital spending ($1.2M), taxes on employees’ shares ($77K); besides operations, cash came from asset & business sales ($1.4M), shares issued ($102K); the cash balance fell by $11.0M.

Operating cash flow was −$128K against net income of −$117K. The largest differences: accrued liabilities −$1.9M, deferred revenue −$771K, employee-related liabilities +$658K.

Its cash conversion cycle was -19 days (receivables 17 + inventory 0 − payables 35): suppliers fund its working capital.

Free cash flow

Joint: free cash flow by quarterJoint: free cash flow by quarter$3.8MQ4 2024−$4.0MQ1 2025$364KQ2 2025$1.5MQ3 2025$2.5MQ4 2025−$1.7MQ1 2026$1.9MQ2 2026−$509KQ3 2026
Operating cash flow less capital spending.
Joint: operating cash flow against capital spendingJoint: operating cash flow against capital spendingOperating cash flowCapital spending$4.1M$284KQ4 2024−$3.7M$332KQ1 2025$869K$505KQ2 2025$1.8M$318KQ3 2025$2.9M$349KQ4 2025−$1.5M$235KQ1 2026$2.2M$256KQ2 2026−$128K$380KQ3 2026
Latest (Q3 2026): Operating cash flow −$128K, Capital spending $380K.

Capital allocation, year by year

Joint: where the cash came from (up) and went (down), by fiscal yearJoint: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $13.8MFY2021: Net borrowing −$2.8MFY2021: Shares issued $1.5MFY2021: Capital spending −$7.0MFY2021: Acquisitions −$5.8MFY2021: Buybacks −$708K$15.4MFY2021FY2022: Operating cash flow $8.2MFY2022: Net borrowing −$50KFY2022: Shares issued $384KFY2022: Asset sales $105KFY2022: Capital spending −$5.9MFY2022: Buybacks −$6K$8.7MFY2022FY2023: Operating cash flow $14.7MFY2023: Net borrowing −$24KFY2023: Shares issued $202KFY2023: Capital spending −$5.0MFY2023: Acquisitions −$1.2MFY2023: Buybacks −$4K$14.9MFY2023FY2024: Operating cash flow $9.4MFY2024: Net borrowing −$2.0MFY2024: Shares issued $34KFY2024: Asset sales $554KFY2024: Capital spending −$1.2MFY2024: Buybacks −$10K$10.0MFY2024FY2025: Operating cash flow $1.8MFY2025: Net borrowing −$4KFY2025: Shares issued $1.5MFY2025: Asset sales $7.8MFY2025: Capital spending −$1.5MFY2025: Buybacks −$11.3M$11.1MFY2025
Over these 5 years operating cash flow totalled $48.0M; the largest uses were capital spending ($20.6M) and buybacks ($12.0M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$18.3M
Debtnone
Net cash$18.3M
Cash runway9.0 years

Joint is burning cash: its operations consume cash, a free cash flow of −$2.0M a year at the current rate against $18.3M of cash and investments: a runway of about 9.0 years before any new financing.

Where the cash came from and went

Joint: sources (+) and uses (−) of cash, Q3 2026Joint: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)$4.1MBuybacks−$3.8MCapital spending−$380KAsset & business sales$266KOperating cash flow−$128KTaxes on employees’ shares−$2K
Joint: sources (+) and uses (−) of cash, TTM to Q3 2026Joint: sources (+) and uses (−) of cash, TTM to Q3 2026Buybacks−$14.7MCash drawn (+) / kept (−)$11.0MOperating cash flow$3.5MAsset & business sales$1.4MCapital spending−$1.2MShares issued$102KTaxes on employees’ shares−$77K

From profit to cash

Joint: net income to operating cash flow, Q3 2026Joint: net income to operating cash flow, Q3 2026Net income−$117KDepreciation & amortization$262KStock-based pay$336KReceivables−$165KPayables−$289KAccrued liabilities−$1.9MEmployee-related liabilities$658KDeferred revenue−$771KContract assets$213KPrepaid and other assets$39KOther liabilities−$236KOperating cash flow−$128K
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202617—35-19
Q2 202614—38-24
Q1 202616—42-26
Q4 202517—46-28
Q3 202520—48-29
Q2 202520—43-23
Q1 202519—42-23

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026−$128K−$380K−$3.8M——$4.1M−$509K
Q2 2026$2.2M−$256K−$677K——−$2.4M$1.9M
Q1 2026−$1.5M−$235K−$1.1M—$37K$2.9M−$1.7M
Q4 2025$2.9M−$349K−$9.0M—$65K$6.4M$2.5M
Q3 2025$1.8M−$318K−$2.3M—$548K$286K$1.5M
Q2 2025$869K−$505K$8K——−$8.1M$364K
Q1 2025−$3.7M−$332K−$8K−$4K$906K$3.1M−$4.0M
Q4 2024$4.1M−$284K−$10K−$6K−$18K−$4.0M$3.8M

Joint: income statement and cash flow

Joint, Q3 2026: revenue $13.6M (+1% year over year), operating margin 9.8%. The chart follows the revenue to costs, profit and cash.

Joint: 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.