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Opko Health cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$39.1M in Q3 2026 · −$135M over twelve months

Operating cash flow−$36.3M
Capital spending−$2.8M
Free cash flow−$39.1M
Cash conversion cycle143 days

Analysis

In Q3 2026, Opko Health generated −$36.3M of operating cash flow and spent $2.8M on capital projects, leaving free cash flow of −$39.1M. That is $1.3M less than in Q3 2025 (−$37.8M).

Over the twelve months to Sep 30, 2026, operating cash flow was −$125M; the largest uses were operating cash flow ($125M), buybacks ($41.9M), capital spending ($10.3M); besides operations, cash came from other financing ($124M), asset & business sales ($38.5M); the cash balance fell by $25.7M.

Operating cash flow was −$36.3M against net income of −$53.5M. The largest differences: depreciation & amortization +$22.7M, deferred taxes −$10.1M, accrued liabilities +$4.5M.

Its cash conversion cycle was 143 days (receivables 114 + inventory 222 − payables 193).

Free cash flow

Opko Health: free cash flow by quarterOpko Health: free cash flow by quarter−$49.8MQ4 2024−$37.7MQ1 2025−$86.7MQ2 2025−$37.8MQ3 2025−$28.6MQ4 2025−$21.1MQ1 2026−$46.5MQ2 2026−$39.1MQ3 2026
Operating cash flow less capital spending.
Opko Health: operating cash flow against capital spendingOpko Health: operating cash flow against capital spendingOperating cash flowCapital spending−$44.4M$5.4MQ4 2024−$34.6M$3.2MQ1 2025−$83.4M$3.3MQ2 2025−$34.6M$3.1MQ3 2025−$25.9M$2.7MQ4 2025−$19.3M$1.8MQ1 2026−$43.5M$3.0MQ2 2026−$36.3M$2.8MQ3 2026
Latest (Q3 2026): Operating cash flow −$36.3M, Capital spending $2.8M.

Capital allocation, year by year

Opko Health: where the cash came from (up) and went (down), by fiscal yearOpko Health: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $38.3MFY2021: Net borrowing −$11.2MFY2021: Asset sales $66.0MFY2021: Capital spending −$32.2MFY2021: Acquisitions −$4.0M$104MFY2021FY2022: Operating cash flow −$95.2MFY2022: Net borrowing $22.4MFY2022: Asset sales $2.0MFY2022: Capital spending −$24.6MFY2022: Acquisitions −$1.8M$24.4MFY2022FY2023: Operating cash flow −$28.2MFY2023: Net borrowing −$11.0MFY2023: Asset sales $2.7MFY2023: Capital spending −$16.3M$2.7MFY2023FY2024: Operating cash flow −$183MFY2024: Net borrowing $85.5MFY2024: Asset sales $211MFY2024: Capital spending −$25.0MFY2024: Buybacks −$90.2M$296MFY2024FY2025: Operating cash flow −$179MFY2025: Net borrowing −$70.6MFY2025: Asset sales $198MFY2025: Capital spending −$12.3MFY2025: Buybacks −$47.0M$198MFY2025
Over these 5 years operating cash flow totalled −$447M; the largest uses were operating cash flow ($485M) and buybacks ($137M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$384M
Debt$477M
Net debt$93.4M
Due within a year$1.2M
Cash runway2.8 years

Opko Health is burning cash: its operations consume cash, a free cash flow of −$135M a year at the current rate against $384M of cash and investments: a runway of about 2.8 years; $1.2M of debt also comes due within a year, which the cash covers before any new financing.

Where the cash came from and went

Opko Health: sources (+) and uses (−) of cash, Q3 2026Opko Health: sources (+) and uses (−) of cash, Q3 2026Other financing$122MCash drawn (+) / kept (−)−$88.8MOperating cash flow−$36.3MAsset & business sales$19.8MBuybacks−$10.6MOther investing−$5.7MNet borrowing (+) / repaid (−)$3.0MCapital spending−$2.8MExchange rates−$663K
Opko Health: sources (+) and uses (−) of cash, TTM to Q3 2026Opko Health: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow−$125MOther financing$124MBuybacks−$41.9MAsset & business sales$38.5MCash drawn (+) / kept (−)$25.7MCapital spending−$10.3MOther investing−$5.2MNet borrowing (+) / repaid (−)−$4.0MExchange rates−$1.5M

From profit to cash

Opko Health: net income to operating cash flow, Q3 2026Opko Health: net income to operating cash flow, Q3 2026Net income−$53.5MDepreciation & amortization$22.7MStock-based pay$2.0MDeferred taxes−$10.1MGains on disposals$47KReceivables$198KInventory−$2.0MPayables−$885KAccrued liabilities$4.5MPrepaid and other assets−$365KOperating cash flow−$36.3M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 2026114222193143
Q2 202645695162
Q1 202662754987
Q4 202557181363
Q3 2025158283231209
Q2 202557554963
Q1 202564514570
Q4 202456545159

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026−$36.3M−$2.8M−$10.6M$3.0M−$88.8M−$39.1M
Q2 2026−$43.5M−$3.0M−$13.0M−$37K$41.1M−$46.5M
Q1 2026−$19.3M−$1.8M−$4.8M−$841K$27.2M−$21.1M
Q4 2025−$25.9M−$2.7M−$13.5M−$4.7M$46.1M−$28.6M
Q3 2025−$34.6M−$3.1M−$15.3M−$402K−$143M−$37.8M
Q2 2025−$83.4M−$3.3M−$18.3M$847K$164M−$86.7M
Q1 2025−$34.6M−$3.2M—−$4.3M−$4.1M−$37.7M
Q4 2024−$44.4M−$5.4M−$16.5M−$24.0M−$25.6M−$49.8M

Opko Health: income statement and cash flow

Opko Health, Q3 2026: revenue $65.4M (+16% year over year), operating margin -48.0%. The chart follows the revenue to costs, profit and cash.

Opko Health: 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.