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Neuraxis cash flow, quarter by quarter

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

Free cash flow−$1.0M in Q2 2026 · −$5.6M over twelve months

Operating cash flow−$1.0M
Free cash flow−$1.0M
Cash conversion cycle-78 days

Analysis

In Q2 2026, Neuraxis generated −$1.0M of operating cash flow. That is $445K more than in Q2 2025 (−$1.5M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$5.6M; the largest uses were operating cash flow ($5.6M), net borrowing (+) / repaid (−) ($242K), other investing ($100K); besides operations, cash came from shares issued ($7.8M), other financing ($520K); the cash balance rose by $2.3M.

Operating cash flow was −$1.0M against net income of −$2.1M. The largest differences: stock-based pay +$640K, payables +$486K, receivables −$61K.

Its cash conversion cycle was -78 days (receivables 19 + inventory 86 − payables 183): suppliers fund its working capital.

Free cash flow

Neuraxis: free cash flow by quarterNeuraxis: free cash flow by quarter−$1.4MQ3 2024−$1.8MQ4 2024−$1.6MQ1 2025−$1.5MQ2 2025−$1.4MQ3 2025−$1.9MQ4 2025−$1.2MQ1 2026−$1.0MQ2 2026
Operating cash flow less capital spending.
Neuraxis: operating cash flow against capital spendingNeuraxis: operating cash flow against capital spendingOperating cash flowCapital spending−$1.4M$4KQ3 2024−$1.8M$0Q4 2024−$1.6M$18KQ1 2025−$1.5M$7KQ2 2025−$1.4M$0Q3 2025−$1.9M$6KQ4 2025−$1.2M$0Q1 2026−$1.0M$0Q2 2026
Latest (Q2 2026): Operating cash flow −$1.0M, Capital spending $0.

Capital allocation, year by year

Neuraxis: where the cash came from (up) and went (down), by fiscal yearNeuraxis: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsFY2022: Operating cash flow −$2.3MFY2022: Net borrowing $3.0MFY2022: Capital spending −$1K$3.0MFY2022FY2023: Operating cash flow −$6.7MFY2023: Net borrowing $1.9MFY2023: Shares issued $4.8MFY2023: Capital spending −$31K$6.8MFY2023FY2024: Operating cash flow −$6.1MFY2024: Net borrowing $4.7MFY2024: Shares issued $5.3MFY2024: Capital spending −$28K$9.9MFY2024FY2025: Operating cash flow −$6.4MFY2025: Net borrowing −$282KFY2025: Shares issued $7.7MFY2025: Capital spending −$31KFY2025: Acquisitions −$100K$7.7MFY2025
Over these 4 years operating cash flow totalled −$21.5M; the largest uses were operating cash flow ($21.5M) and net borrowing ($282K). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$8.3M
Debt$43K
Net cash$8.3M
Cash runway18 months

Neuraxis is burning cash: its operations consume cash, a free cash flow of −$5.6M a year at the current rate against $8.3M of cash and investments: a runway of about 18 months before any new financing.

Where the cash came from and went

Neuraxis: sources (+) and uses (−) of cash, Q2 2026Neuraxis: sources (+) and uses (−) of cash, Q2 2026Shares issued$2.1MCash drawn (+) / kept (−)−$1.2MOperating cash flow−$1.0MOther financing$267KNet borrowing (+) / repaid (−)−$58KNot reconciled−$6K
Neuraxis: sources (+) and uses (−) of cash, TTM to Q2 2026Neuraxis: sources (+) and uses (−) of cash, TTM to Q2 2026Shares issued$7.8MOperating cash flow−$5.6MCash drawn (+) / kept (−)−$2.3MOther financing$520KNet borrowing (+) / repaid (−)−$242KOther investing−$100KCapital spending−$12K

From profit to cash

Neuraxis: net income to operating cash flow, Q2 2026Neuraxis: net income to operating cash flow, Q2 2026Net income−$2.1MDepreciation & amortization$17KStock-based pay$640KReceivables−$61KInventory−$50KPayables$486KAccrued liabilities−$48KPrepaid and other assets−$1KOperating cash flow−$1.0M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 20261986183-78
Q1 2026161029227
Q4 202514119333-199
Q3 20251382459-363
Q2 20251952310-239
Q1 20252526365-314
Q4 20241829683-635
Q3 20241431986-941

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$1.0M—−$58K$2.1M−$1.2M−$1.0M
Q1 2026−$1.2M—−$58K$3.0M−$2.1M−$1.2M
Q4 2025−$1.9M−$6K−$57K$2.7M−$588K−$1.9M
Q3 2025−$1.4M—−$70K—$1.6M−$1.4M
Q2 2025−$1.5M−$7K−$85K—−$4.0M−$1.5M
Q1 2025−$1.6M−$18K−$70K—$1.7M−$1.6M
Q4 2024−$1.8M—$135K—−$3.4M−$1.8M
Q3 2024−$1.4M−$4K−$107K—$1.5M−$1.4M

Neuraxis: income statement and cash flow

Neuraxis, Q2 2026: revenue $1.9M (+116% year over year), operating margin -110.2%. The chart follows the revenue to costs, profit and cash.

Neuraxis: 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.