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Rockwell Medical cash flow, quarter by quarter

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

Free cash flow$1.5M in Q2 2026 · $1.5M over twelve months

Operating cash flow$2.1M
Capital spending−$617K
Free cash flow+$1.5M
Cash conversion cycle41 days

Analysis

In Q2 2026, Rockwell Medical generated $2.1M of operating cash flow and spent $617K on capital projects, leaving free cash flow of $1.5M. That is $217K less than in Q2 2025 ($1.7M).

Over the twelve months to Jun 30, 2026, operating cash flow was $2.9M; the largest uses were other investing ($7.7M), capital spending ($1.4M), net borrowing (+) / repaid (−) ($1.1M); besides operations, cash came from other financing ($5.3M); the cash balance fell by $2.0M.

Operating cash flow was $2.1M against net income of −$1.2M. The largest differences: other liabilities +$1.1M, receivables +$970K, prepaid and other assets +$732K.

Its cash conversion cycle was 41 days (receivables 44 + inventory 18 − payables 21).

Free cash flow

Rockwell Medical: free cash flow by quarterRockwell Medical: free cash flow by quarter$4.1MQ3 2024$470KQ4 2024−$3.5MQ1 2025$1.7MQ2 2025−$1.5MQ3 2025$2.2MQ4 2025−$592KQ1 2026$1.5MQ2 2026
Operating cash flow less capital spending.
Rockwell Medical: operating cash flow against capital spendingRockwell Medical: operating cash flow against capital spendingOperating cash flowCapital spending$4.3M$191KQ3 2024$865K$395KQ4 2024−$3.5M$63KQ1 2025$1.8M$164KQ2 2025−$1.3M$229KQ3 2025$2.3M$86KQ4 2025−$167K$425KQ1 2026$2.1M$617KQ2 2026
Latest (Q2 2026): Operating cash flow $2.1M, Capital spending $617K.

Capital allocation, year by year

Rockwell Medical: where the cash came from (up) and went (down), by fiscal yearRockwell Medical: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingFY2021: Operating cash flow −$33.5MFY2021: Net borrowing −$1.5MFY2021: Shares issued $107K$107KFY2021FY2022: Operating cash flow −$16.9MFY2022: Net borrowing −$13.2MFY2022: Shares issued $30.0M$30.0MFY2022FY2023: Operating cash flow −$9.4MFY2023: Net borrowing −$2.5MFY2023: Shares issued $14.9MFY2023: Capital spending −$284K$14.9MFY2023FY2024: Operating cash flow $4.2MFY2024: Net borrowing −$558KFY2024: Shares issued $10.2MFY2024: Capital spending −$1.0M$14.4MFY2024FY2025: Operating cash flow −$659KFY2025: Net borrowing −$1.2MFY2025: Shares issued $7.8MFY2025: Capital spending −$542K$7.8MFY2025
Over these 5 years operating cash flow totalled −$56.3M; the largest uses were operating cash flow ($60.5M) and net borrowing ($19.0M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$24.8M
Debt$9.0M
Net cash$15.8M
Due within a year$1.8M

Rockwell Medical funds itself: free cash flow was $1.5M over the last twelve months, and $24.8M of cash and investments stands against $9.0M of debt ($1.8M due within a year, 14.0× covered by cash).

Where the cash came from and went

Rockwell Medical: sources (+) and uses (−) of cash, Q2 2026Rockwell Medical: sources (+) and uses (−) of cash, Q2 2026Operating cash flow$2.1MCash drawn (+) / kept (−)−$910KCapital spending−$617KOther financing−$500KNet borrowing (+) / repaid (−)−$183KOther investing$130K
Rockwell Medical: sources (+) and uses (−) of cash, TTM to Q2 2026Rockwell Medical: sources (+) and uses (−) of cash, TTM to Q2 2026Other investing−$7.7MOther financing$5.3MOperating cash flow$2.9MCash drawn (+) / kept (−)$2.0MCapital spending−$1.4MNet borrowing (+) / repaid (−)−$1.1M

From profit to cash

Rockwell Medical: net income to operating cash flow, Q2 2026Rockwell Medical: net income to operating cash flow, Q2 2026Net income−$1.2MDepreciation & amortization$492KStock-based pay$403KGains on disposals−$32KReceivables$970KInventory$238KPayables−$266KPrepaid and other assets$732KOther liabilities$1.1MOperating cash flow$2.1M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 202644182141
Q1 202644201747
Q4 202541231154
Q3 202547271065
Q2 202550311170
Q1 202543311460
Q4 202432261246
Q3 202432251244

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026$2.1M−$617K−$183K—−$910K$1.5M
Q1 2026−$167K−$425K−$313K—$1.1M−$592K
Q4 2025$2.3M−$86K−$309K—$2.9M$2.2M
Q3 2025−$1.3M−$229K−$322K$7.8M−$1.1M−$1.5M
Q2 2025$1.8M−$164K−$215K—−$1.1M$1.7M
Q1 2025−$3.5M−$63K−$347K—$4.3M−$3.5M
Q4 2024$865K−$395K−$142K$3.8M−$3.3M$470K
Q3 2024$4.3M−$191K−$341K$3.6M−$475K$4.1M

Rockwell Medical: income statement and cash flow

Rockwell Medical, Q2 2026: revenue $17.8M (+11% year over year), operating margin -6.0%. The chart follows the revenue to costs, profit and cash.

Rockwell 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.