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Star Equity Holdings cash flow, quarter by quarter

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

Free cash flow−$3.2M in Q2 2026 · −$14.2M over twelve months

Operating cash flow−$1.7M
Capital spending−$1.5M
Free cash flow−$3.2M
Cash conversion cycle62 days

Analysis

In Q2 2026, Star Equity Holdings generated −$1.7M of operating cash flow and spent $1.5M on capital projects, leaving free cash flow of −$3.2M. That is $3.3M less than in Q2 2025 ($102K).

Over the twelve months to Jun 30, 2026, operating cash flow was −$9.7M; the largest uses were operating cash flow ($9.7M), capital spending ($4.5M), buybacks ($3.5M); besides operations, cash came from other investing ($9.5M), other financing ($240K); the cash balance fell by $8.6M.

Operating cash flow was −$1.7M against net income of −$1.8M. The largest differences: receivables −$2.4M, payables −$1.1M, prepaid and other assets +$1.1M.

Its cash conversion cycle was 62 days (receivables 56 + inventory 20 − payables 14).

Free cash flow

Star Equity Holdings: free cash flow by quarterStar Equity Holdings: free cash flow by quarter$1.3MQ3 2024$2.0MQ4 2024−$808KQ1 2025$102KQ2 2025−$3.4MQ3 2025−$4.9MQ4 2025−$2.7MQ1 2026−$3.2MQ2 2026
Operating cash flow less capital spending.
Star Equity Holdings: operating cash flow against capital spendingStar Equity Holdings: operating cash flow against capital spendingOperating cash flowCapital spending$1.3M−$1KQ3 2024$2.0M−$4KQ4 2024−$802K$6KQ1 2025$139K$37KQ2 2025−$2.7M$615KQ3 2025−$3.9M$1.0MQ4 2025−$1.4M$1.3MQ1 2026−$1.7M$1.5MQ2 2026
Latest (Q2 2026): Operating cash flow −$1.7M, Capital spending $1.5M.

Capital allocation, year by year

Star Equity Holdings: where the cash came from (up) and went (down), by fiscal yearStar Equity Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $2.5MFY2021: Capital spending −$284KFY2021: Acquisitions −$6.0M$2.5MFY2021FY2022: Operating cash flow $9.4MFY2022: Capital spending −$504KFY2022: Acquisitions −$825KFY2022: Buybacks −$1.1M$9.4MFY2022FY2023: Operating cash flow $315KFY2023: Capital spending −$99KFY2023: Acquisitions −$2.1MFY2023: Buybacks −$959K$315KFY2023FY2024: Operating cash flow −$2.8MFY2024: Capital spending −$18KFY2024: Buybacks −$2.8MFY2024FY2025: Operating cash flow −$7.3MFY2025: Net borrowing $1.9MFY2025: Asset sales $119KFY2025: Capital spending −$1.7MFY2025: Buybacks −$2.6M$2.0MFY2025
Over these 5 years operating cash flow totalled $2.2M; the largest uses were operating cash flow ($10.0M) and acquisitions ($8.9M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$6.8M
Debt$14.1M
Net debt$7.3M
Cash runway6 months

Star Equity Holdings is burning cash: its operations consume cash, a free cash flow of −$14.2M a year at the current rate against $6.8M of cash and investments: a runway of about 6 months before any new financing.

Where the cash came from and went

Star Equity Holdings: sources (+) and uses (−) of cash, Q2 2026Star Equity Holdings: sources (+) and uses (−) of cash, Q2 2026Asset & business sales$3.2MOther investing−$3.0MOperating cash flow−$1.7MNet borrowing (+) / repaid (−)$1.7MCapital spending−$1.5MCash drawn (+) / kept (−)$1.4MOther financing$191KBuybacks−$157KExchange rates−$31KTaxes on employees’ shares−$13K
Star Equity Holdings: sources (+) and uses (−) of cash, TTM to Q2 2026Star Equity Holdings: sources (+) and uses (−) of cash, TTM to Q2 2026Operating cash flow−$9.7MOther investing$9.5MCash drawn (+) / kept (−)$8.6MCapital spending−$4.5MBuybacks−$3.5MTaxes on employees’ shares−$442KExchange rates−$341KOther financing$240KAsset & business sales$149K

From profit to cash

Star Equity Holdings: net income to operating cash flow, Q2 2026Star Equity Holdings: net income to operating cash flow, Q2 2026Net income−$1.8MDepreciation & amortization$934KStock-based pay$707KDeferred taxes$390KReceivables−$2.4MInventory$118KPayables−$1.1MDeferred revenue$565KPrepaid and other assets$1.1MOperating cash flow−$1.7M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 202656201462
Q1 202661211468
Q4 202558211564

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q2 2026−$1.7M−$1.5M−$157K$1.7M$1.4M−$3.2M
Q1 2026−$1.4M−$1.3M−$712K−$2.2M$3.1M−$2.7M
Q4 2025−$3.9M−$1.0M−$66K$223K$5.1M−$4.9M
Q3 2025−$2.7M−$615K−$2.6M$258K−$1.0M−$3.4M
Q2 2025$139K−$37K——−$309K$102K
Q1 2025−$802K−$6K——$453K−$808K
Q4 2024$2.0M$4K——−$1.2M$2.0M
Q3 2024$1.3M$1K−$393K—−$1.2M$1.3M

Star Equity Holdings: income statement and cash flow

Star Equity Holdings, Q2 2026: revenue $54.9M (+55% year over year), operating margin -2.5%. The chart follows the revenue to costs, profit and cash.

Star Equity Holdings: 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.