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Nortech Systems cash flow, quarter by quarter

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

Free cash flow−$983K in Q2 2026 · $2.5M over twelve months

Operating cash flow−$888K
Capital spending−$95K
Free cash flow−$983K
Cash / net income-2.8×
Cash conversion cycle81 days

Analysis

In Q2 2026, Nortech Systems generated −$888K of operating cash flow and spent $95K on capital projects, leaving free cash flow of −$983K. That is $1.0M less than in Q2 2025 ($58K).

Over the twelve months to Jun 30, 2026, operating cash flow was $3.1M; the largest uses were net borrowing (+) / repaid (−) ($4.0M), capital spending ($617K); besides operations, cash came from other financing ($1.8M), other investing ($495K); the cash balance rose by $1.0M.

Operating cash flow was −$888K against net income of $316K — -2.8× profit, less cash than reported earnings, worth checking against working capital. The largest differences: deferred revenue +$2.2M, receivables −$1.9M, contract assets −$969K.

Its cash conversion cycle was 81 days (receivables 51 + inventory 79 − payables 48).

Free cash flow

Nortech Systems: free cash flow by quarterNortech Systems: free cash flow by quarter−$1.5MQ3 2024$503KQ4 2024−$3.2MQ1 2025$58KQ2 2025−$242KQ3 2025$5.5MQ4 2025−$1.8MQ1 2026−$983KQ2 2026
Operating cash flow less capital spending.
Nortech Systems: operating cash flow against capital spendingNortech Systems: operating cash flow against capital spendingOperating cash flowCapital spending−$1.6M−$40KQ3 2024$793K$290KQ4 2024−$2.9M$268KQ1 2025$157K$99KQ2 2025−$92K$150KQ3 2025$5.6M$144KQ4 2025−$1.6M$228KQ1 2026−$888K$95KQ2 2026
Latest (Q2 2026): Operating cash flow −$888K, Capital spending $95K.

Capital allocation, year by year

Nortech Systems: where the cash came from (up) and went (down), by fiscal yearNortech Systems: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingFY2021: Operating cash flow −$4.5MFY2021: Net borrowing $3.9MFY2021: Shares issued $35KFY2021: Asset sales $626KFY2021: Capital spending −$1.3M$4.6MFY2021FY2022: Operating cash flow $5.4MFY2022: Net borrowing −$2.7MFY2022: Shares issued $51KFY2022: Asset sales $15KFY2022: Capital spending −$2.4M$5.5MFY2022FY2023: Operating cash flow $1.8MFY2023: Net borrowing −$1.4MFY2023: Shares issued $159KFY2023: Capital spending −$1.3M$1.9MFY2023FY2024: Operating cash flow −$2.2MFY2024: Net borrowing $2.8MFY2024: Shares issued $38KFY2024: Asset sales $7KFY2024: Capital spending −$1.3M$2.9MFY2024FY2025: Operating cash flow $2.7MFY2025: Net borrowing −$1.9MFY2025: Shares issued $23KFY2025: Asset sales $504KFY2025: Capital spending −$661K$3.3MFY2025
Over these 5 years operating cash flow totalled $3.1M; the largest uses were capital spending ($6.9M) and operating cash flow ($6.8M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$1.4M
Debt$2.1M
Net debt$710K
Cash runway4 months

Nortech Systems is burning cash: its operations consume cash, a free cash flow of −$3.9M a year at the current rate against $1.4M of cash and investments: a runway of about 4 months before any new financing.

Where the cash came from and went

Nortech Systems: sources (+) and uses (−) of cash, Q2 2026Nortech Systems: sources (+) and uses (−) of cash, Q2 2026Operating cash flow−$888KCash drawn (+) / kept (−)$534KNet borrowing (+) / repaid (−)$313KOther financing$125KCapital spending−$95KExchange rates$11K
Nortech Systems: sources (+) and uses (−) of cash, TTM to Q2 2026Nortech Systems: sources (+) and uses (−) of cash, TTM to Q2 2026Net borrowing (+) / repaid (−)−$4.0MOperating cash flow$3.1MOther financing$1.8MCash drawn (+) / kept (−)−$1.0MCapital spending−$617KOther investing$495KShares issued$235KExchange rates$28K

From profit to cash

Nortech Systems: net income to operating cash flow, Q2 2026Nortech Systems: net income to operating cash flow, Q2 2026Net income$316KDepreciation & amortization$315KStock-based pay$194KDeferred taxes−$210KReceivables−$1.9MInventory−$920KPayables$160KAccrued liabilities$65KEmployee-related liabilities$95KDeferred revenue$2.2MContract assets−$969KOperating cash flow−$888K
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 202651794881
Q1 202652784881
Q4 202554714581
Q3 202555674380
Q2 202550703981
Q1 202551804191
Q4 202451784386
Q3 202450754284

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$888K−$95K$313K—$534K−$983K
Q1 2026−$1.6M−$228K$426K—−$553K−$1.8M
Q4 2025$5.6M−$144K−$5.1M—−$384K$5.5M
Q3 2025−$92K−$150K$360K—−$619K−$242K
Q2 2025$157K−$99K−$373K$4K$510K$58K
Q1 2025−$2.9M−$268K$3.4M$19K−$246K−$3.2M
Q4 2024$793K−$290K−$917K$7K$323K$503K
Q3 2024−$1.6M$40K$1.1M—$303K−$1.5M

Nortech Systems: income statement and cash flow

Nortech Systems, Q2 2026: revenue $33.5M (+9% year over year), operating margin 1.9%. The chart follows the revenue to costs, profit and cash.

Nortech Systems: 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.