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MultiSensor AI Holdings cash flow, quarter by quarter

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

Free cash flow−$2.6M in Q2 2026 · −$9.2M over twelve months

Operating cash flow−$2.4M
Capital spending−$251K
Free cash flow−$2.6M
Cash conversion cycle448 days

Analysis

In Q2 2026, MultiSensor AI Holdings generated −$2.4M of operating cash flow and spent $251K on capital projects, leaving free cash flow of −$2.6M. That is $1.3M less than in Q2 2025 (−$1.3M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$8.1M; the largest uses were operating cash flow ($8.1M), capital spending ($1.1M), taxes on employees’ shares ($292K); besides operations, cash came from other financing ($27.2M), asset & business sales ($20K); the cash balance rose by $17.7M.

Operating cash flow was −$2.4M against net income of −$2.5M. The largest differences: receivables −$2.4M, deferred revenue +$2.1M, inventory +$487K.

Its cash conversion cycle was 448 days (receivables 129 + inventory 353 − payables 34).

Free cash flow

MultiSensor AI Holdings: free cash flow by quarterMultiSensor AI Holdings: free cash flow by quarter−$13.2MQ3 2024−$4.1MQ4 2024−$3.6MQ1 2025−$1.3MQ2 2025−$2.1MQ3 2025−$2.6MQ4 2025−$1.8MQ1 2026−$2.6MQ2 2026
Operating cash flow less capital spending.
MultiSensor AI Holdings: operating cash flow against capital spendingMultiSensor AI Holdings: operating cash flow against capital spendingOperating cash flowCapital spending−$12.7M$488KQ3 2024−$3.1M$1.1MQ4 2024−$3.2M$435KQ1 2025−$804K$494KQ2 2025−$1.8M$339KQ3 2025−$2.2M$363KQ4 2025−$1.7M$121KQ1 2026−$2.4M$251KQ2 2026
Latest (Q2 2026): Operating cash flow −$2.4M, Capital spending $251K.

Capital allocation, year by year

MultiSensor AI Holdings: where the cash came from (up) and went (down), by fiscal yearMultiSensor AI Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingFY2022: Operating cash flow −$3.2MFY2022: Net borrowing $1.1MFY2022: Capital spending −$1.6M$1.1MFY2022FY2023: Operating cash flow −$4.6MFY2023: Shares issued $6.3MFY2023: Asset sales $30KFY2023: Capital spending −$1.5M$6.3MFY2023FY2024: Operating cash flow −$15.6MFY2024: Net borrowing −$1.2MFY2024: Shares issued $22.7MFY2024: Capital spending −$2.7M$22.7MFY2024FY2025: Operating cash flow −$8.0MFY2025: Asset sales $24KFY2025: Capital spending −$1.6M$24KFY2025
Over these 4 years operating cash flow totalled −$31.3M; the largest uses were operating cash flow ($31.3M) and capital spending ($7.4M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$21.0M
Debtnone
Net cash$21.0M
Cash runway2.3 years

MultiSensor AI Holdings is burning cash: its operations consume cash, a free cash flow of −$9.2M a year at the current rate against $21.0M of cash and investments: a runway of about 2.3 years before any new financing.

Where the cash came from and went

MultiSensor AI Holdings: sources (+) and uses (−) of cash, Q2 2026MultiSensor AI Holdings: sources (+) and uses (−) of cash, Q2 2026Operating cash flow−$2.4MCash drawn (+) / kept (−)$1.6MOther financing$1.0MCapital spending−$251K
MultiSensor AI Holdings: sources (+) and uses (−) of cash, TTM to Q2 2026MultiSensor AI Holdings: sources (+) and uses (−) of cash, TTM to Q2 2026Other financing$27.2MCash drawn (+) / kept (−)−$17.7MOperating cash flow−$8.1MCapital spending−$1.1MTaxes on employees’ shares−$292KAsset & business sales$20K

From profit to cash

MultiSensor AI Holdings: net income to operating cash flow, Q2 2026MultiSensor AI Holdings: net income to operating cash flow, Q2 2026Net income−$2.5MDepreciation & amortization$360KStock-based pay$187KDeferred taxes−$20KGains on disposals−$3KReceivables−$2.4MInventory$487KPayables−$177KAccrued liabilities−$33KDeferred revenue$2.1MPrepaid and other assets−$285KOther liabilities$13KIncome taxes payable$6KOperating cash flow−$2.4M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 202612935334448
Q1 20268050246536
Q4 20258174691735
Q3 202548703162589
Q2 202556375111320
Q1 202565828207686
Q4 2024531135214975
Q3 202452913163802

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$2.4M−$251K——$1.6M−$2.6M
Q1 2026−$1.7M−$121K——$1.8M−$1.8M
Q4 2025−$2.2M−$363K——−$23.3M−$2.6M
Q3 2025−$1.8M−$339K—$34K$2.2M−$2.1M
Q2 2025−$804K−$494K—$82K$1.6M−$1.3M
Q1 2025−$3.2M−$435K−$172K$4.7M−$389K−$3.6M
Q4 2024−$3.1M−$1.1M—−$59K$4.1M−$4.1M
Q3 2024−$12.7M−$488K−$641K$22.2M−$8.4M−$13.2M

MultiSensor AI Holdings: income statement and cash flow

MultiSensor AI Holdings, Q2 2026: revenue $1.7M (+20% year over year), operating margin -153.5%. The chart follows the revenue to costs, profit and cash.

MultiSensor AI Holdings: 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.