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Mbia cash flow, quarter by quarter

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

Free cash flow−$73.0M in Q3 2026 · −$120M over twelve months

Operating cash flow−$73.0M
Free cash flow−$73.0M

Analysis

In Q3 2026, Mbia generated −$73.0M of operating cash flow. That is $163M less than in Q3 2025 ($90.0M).

Over the twelve months to Sep 30, 2026, operating cash flow was −$120M; the largest uses were operating cash flow ($120M), other financing ($90.0M), buybacks ($1.0M); besides operations, cash came from other investing ($204M); the cash balance fell by $7.0M.

Operating cash flow was −$73.0M against net income of −$23.0M. The largest differences: other non-cash +$3.0M, other liabilities +$2.0M.

Free cash flow

Mbia: free cash flow by quarterMbia: free cash flow by quarter$3.0MQ4 2024−$43.0MQ1 2025$1.0MQ2 2025$90.0MQ3 2025−$10.0MQ4 2025−$33.0MQ1 2026−$4.0MQ2 2026−$73.0MQ3 2026
Operating cash flow less capital spending.
Mbia: operating cash flow against capital spendingMbia: operating cash flow against capital spendingOperating cash flowCapital spending$3.0M$0Q4 2024−$43.0M$0Q1 2025$1.0M$0Q2 2025$90.0M$0Q3 2025−$10.0M$0Q4 2025−$33.0M$0Q1 2026−$4.0M$0Q2 2026−$73.0M$0Q3 2026
Latest (Q3 2026): Operating cash flow −$73.0M, Capital spending $0.

Capital allocation, year by year

Mbia: where the cash came from (up) and went (down), by fiscal yearMbia: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingCapital spendingBuybacksDividendsFY2021: Operating cash flow $511MFY2021: Net borrowing −$369MFY2021: Capital spending −$1.0MFY2021: Buybacks −$1.0M$511MFY2021FY2022: Operating cash flow −$418MFY2022: Net borrowing −$7.0MFY2022: Buybacks −$3.0MFY2022FY2023: Operating cash flow −$195MFY2023: Buybacks −$38.0MFY2023: Dividends −$409MFY2023FY2024: Operating cash flow −$176MFY2024: Buybacks −$4.0MFY2024FY2025: Operating cash flow $38.0MFY2025: Buybacks −$7.0M$38.0MFY2025
Over these 5 years operating cash flow totalled −$240M; the largest uses were operating cash flow ($789M) and dividends ($409M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$62.0M
Debtnone
Net cash$62.0M
Cash runway6 months

Mbia is burning cash: its operations consume cash, a free cash flow of −$120M a year at the current rate against $62.0M of cash and investments: a runway of about 6 months before any new financing.

Where the cash came from and went

Mbia: sources (+) and uses (−) of cash, Q3 2026Mbia: sources (+) and uses (−) of cash, Q3 2026Operating cash flow−$73.0MOther investing$58.0MCash drawn (+) / kept (−)$55.0MOther financing−$40.0M
Mbia: sources (+) and uses (−) of cash, TTM to Q3 2026Mbia: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing$204MOperating cash flow−$120MOther financing−$90.0MCash drawn (+) / kept (−)$7.0MBuybacks−$1.0M

From profit to cash

Mbia: net income to operating cash flow, Q3 2026Mbia: net income to operating cash flow, Q3 2026Net income−$23.0MOther non-cash$3.0MOther liabilities$2.0MOperating cash flow−$73.0M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowBuybacksCash drawn (+) / kept (−)Free cash flow
Q3 2026−$73.0M—$55.0M−$73.0M
Q2 2026−$4.0M—−$45.0M−$4.0M
Q1 2026−$33.0M−$1.0M−$1.0M−$33.0M
Q4 2025−$10.0M—−$2.0M−$10.0M
Q3 2025$90.0M—$98.0M$90.0M
Q2 2025$1.0M—−$104M$1.0M
Q1 2025−$43.0M−$7.0M$24.0M−$43.0M
Q4 2024$3.0M—−$13.0M$3.0M

Mbia: income statement and cash flow

Mbia, Q3 2026: revenue $26.0M (+73% year over year), operating margin -88.5%. The chart follows the revenue to costs, profit and cash.

Mbia: 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.