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Orthofix Medical cash flow, quarter by quarter

Latest: Q2 FY26 · from the cash-flow statements filed with the SEC

Free cash flow−$18.9M in Q2 FY26

Operating cash flow−$6.2M
Capital spending−$12.6M
Free cash flow−$18.9M
Cash conversion cycle240 days

Analysis

In Q2 FY26, Orthofix Medical generated −$6.2M of operating cash flow and spent $12.6M on capital projects, leaving free cash flow of −$18.9M. That is $23.4M less than in Q2 FY25 ($4.5M).

Operating cash flow was −$6.2M against net income of −$15.8M. The largest differences: other liabilities −$17.6M, depreciation & amortization +$13.3M, inventory −$12.1M.

Its cash conversion cycle was 240 days (receivables 59 + inventory 269 − payables 88).

Free cash flow

Orthofix Medical: free cash flow by quarterOrthofix Medical: free cash flow by quarter$5.9MQ3 FY24$15.2MQ4 FY24−$25.1MQ1 FY25$4.5MQ2 FY25$2.5MQ3 FY25$16.8MQ4 FY25−$28.3MQ1 FY26−$18.9MQ2 FY26
Operating cash flow less capital spending.
Orthofix Medical: operating cash flow against capital spendingOrthofix Medical: operating cash flow against capital spendingOperating cash flowCapital spending$11.7M$5.8MQ3 FY24$23.7M$8.5MQ4 FY24−$18.4M$6.7MQ1 FY25$11.6M$7.1MQ2 FY25$12.4M$9.9MQ3 FY25$27.7M$10.9MQ4 FY25−$17.6M$10.7MQ1 FY26−$6.2M$12.6MQ2 FY26
Latest (Q2 FY26): Operating cash flow −$6.2M, Capital spending $12.6M.

Cash runway and the debt wall

Cash & investments$104M
Debt$157M
Net debt$53.4M
Cash runway17 months

Orthofix Medical is burning cash: its operations consume cash, a free cash flow of −$75.5M a year at the current rate against $104M of cash and investments: a runway of about 17 months before any new financing.

Where the cash came from and went

Orthofix Medical: sources (+) and uses (−) of cash, Q2 FY26Orthofix Medical: sources (+) and uses (−) of cash, Q2 FY26Cash drawn (+) / kept (−)$16.5MCapital spending−$12.6MOperating cash flow−$6.2MOther financing$2.5MExchange rates−$45KNet borrowing (+) / repaid (−)−$25K

From profit to cash

Orthofix Medical: net income to operating cash flow, Q2 FY26Orthofix Medical: net income to operating cash flow, Q2 FY26Net income−$15.8MDepreciation & amortization$13.3MStock-based pay$7.7MDeferred taxes$339KGains on disposals$73KOther non-cash$1.1MReceivables−$1.1MInventory−$12.1MPayables$4.9MOther liabilities−$17.6MOperating cash flow−$6.2M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 FY265926988240
Q1 FY266327689249
Q4 FY255625179228
Q3 FY255828077261
Q2 FY255924965243
Q1 FY256222759231
Q4 FY245527266261
Q3 FY245931173297

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 FY26−$6.2M−$12.6M−$25K—$16.5M−$18.9M
Q1 FY26−$17.6M−$10.7M$64.0M—−$35.8M−$28.3M
Q4 FY25$27.7M−$10.9M−$198K$2.8M−$19.2M$16.8M
Q3 FY25$12.4M−$9.9M−$189K$36K$2.7M$2.5M
Q2 FY25$11.6M−$7.1M−$187K$3.0M−$8.2M$4.5M
Q1 FY25−$18.4M−$6.7M−$188K$49K$25.3M−$25.1M
Q4 FY24$23.7M−$8.5M$29.9M$2.9M−$53.2M$15.2M
Q3 FY24$11.7M−$5.8M−$179K$120K−$3.7M$5.9M

Orthofix Medical: income statement and cash flow

Orthofix Medical, Q2 FY26: revenue $211M (+4% year over year), operating margin -3.9%. The chart follows the revenue to costs, profit and cash.

Orthofix Medical: 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.