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Marimed cash flow, quarter by quarter

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

Free cash flow$1.9M in Q2 2026 · $8.0M over twelve months

Operating cash flow$2.2M
Capital spending−$298K
Free cash flow+$1.9M
Cash conversion cycle105 days

Analysis

In Q2 2026, Marimed generated $2.2M of operating cash flow and spent $298K on capital projects, leaving free cash flow of $1.9M. That is $1.9M more than in Q2 2025 (−$12K).

Over the twelve months to Jun 30, 2026, operating cash flow was $9.3M; the largest uses were other financing ($3.4M), net borrowing (+) / repaid (−) ($1.6M), capital spending ($1.3M); the cash balance rose by $2.3M.

Operating cash flow was $2.2M against net income of −$3.6M. The largest differences: inventory +$2.6M, depreciation & amortization +$2.3M, payables −$2.0M.

Its cash conversion cycle was 105 days (receivables 20 + inventory 135 − payables 50).

Free cash flow

Marimed: free cash flow by quarterMarimed: free cash flow by quarter−$1.8MQ3 2024−$1.5MQ4 2024$1.0MQ1 2025−$12KQ2 2025$2.1MQ3 2025$3.4MQ4 2025$576KQ1 2026$1.9MQ2 2026
Operating cash flow less capital spending.
Marimed: operating cash flow against capital spendingMarimed: operating cash flow against capital spendingOperating cash flowCapital spending$803K$2.6MQ3 2024−$413K$1.1MQ4 2024$1.3M$266KQ1 2025$297K$309KQ2 2025$2.7M$559KQ3 2025$3.4M$33KQ4 2025$949K$373KQ1 2026$2.2M$298KQ2 2026
Latest (Q2 2026): Operating cash flow $2.2M, Capital spending $298K.

Capital allocation, year by year

Marimed: where the cash came from (up) and went (down), by fiscal yearMarimed: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsFY2021: Operating cash flow $35.9MFY2021: Net borrowing −$16.4MFY2021: Shares issued $23.0MFY2021: Capital spending −$17.9M$58.9MFY2021FY2022: Operating cash flow $7.3MFY2022: Shares issued $10KFY2022: Capital spending −$12.1MFY2022: Acquisitions −$12.8M$7.3MFY2022FY2023: Operating cash flow $7.9MFY2023: Net borrowing $23.6MFY2023: Shares issued $109KFY2023: Capital spending −$20.1MFY2023: Acquisitions −$3.0M$31.6MFY2023FY2024: Operating cash flow $6.8MFY2024: Net borrowing −$1.6MFY2024: Asset sales $22KFY2024: Capital spending −$12.0MFY2024: Acquisitions −$4.2M$6.8MFY2024FY2025: Operating cash flow $7.7MFY2025: Net borrowing −$1.3MFY2025: Asset sales $45KFY2025: Capital spending −$1.2MFY2025: Acquisitions $231K$8.0MFY2025
Over these 5 years operating cash flow totalled $65.6M; the largest uses were capital spending ($63.3M) and acquisitions ($20.1M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$8.4M
Debt$82.7M
Net debt$74.2M
Due within a year$2.6M

Marimed funds itself: free cash flow was $8.0M over the last twelve months, and $8.4M of cash and investments stands against $82.7M of debt ($2.6M due within a year, 3.3× covered by cash).

Marimed: debt maturities by year (FY2025)Marimed: debt maturities by year (FY2025)$2.6MYear 1$2.9MYear 2$2.9MYear 3$7.2MYear 4$3.0MYear 5$57.5MAfter year 5
Principal due in each year as disclosed in the annual report, against $8.4M of cash and investments now.

Where the cash came from and went

Marimed: sources (+) and uses (−) of cash, Q2 2026Marimed: sources (+) and uses (−) of cash, Q2 2026Operating cash flow$2.2MOther financing−$777KCash drawn (+) / kept (−)−$500KNet borrowing (+) / repaid (−)−$435KCapital spending−$298KOther investing−$209K
Marimed: sources (+) and uses (−) of cash, TTM to Q2 2026Marimed: sources (+) and uses (−) of cash, TTM to Q2 2026Operating cash flow$9.3MOther financing−$3.4MCash drawn (+) / kept (−)−$2.3MNet borrowing (+) / repaid (−)−$1.6MCapital spending−$1.3MOther investing−$708K

From profit to cash

Marimed: net income to operating cash flow, Q2 2026Marimed: net income to operating cash flow, Q2 2026Net income−$3.6MDepreciation & amortization$2.3MStock-based pay$350KReceivables−$629KInventory$2.6MPayables−$2.0MAccrued liabilities−$81KDeferred revenue$243KPrepaid and other assets−$499KIncome taxes payable$2.0MOperating cash flow$2.2M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 20262013550105
Q1 20262114155107
Q4 2025191133894
Q3 20251814942124
Q2 20251914749118
Q1 20252114054108
Q4 2024191204693
Q3 2024171284897

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q2 2026$2.2M−$298K—−$435K−$500K$1.9M
Q1 2026$949K−$373K—−$444K$947K$576K
Q4 2025$3.4M−$33K—−$342K−$2.3M$3.4M
Q3 2025$2.7M−$559K—−$349K−$458K$2.1M
Q2 2025$297K−$309K—−$304K$1.1M−$12K
Q1 2025$1.3M−$266K$231K−$322K$81K$1.0M
Q4 2024−$413K−$1.1M—−$305K$2.5M−$1.5M
Q3 2024$803K−$2.6M——$404K−$1.8M

Marimed: income statement and cash flow

Marimed, Q2 2026: revenue $41.9M (+6% year over year), operating margin 1.0%. The chart follows the revenue to costs, profit and cash.

Marimed: 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.