Netcapital Inc. (NCPL) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 |
|---|
| Cash from Operations | -868.75K | -2.58M | -4.21M | -724.58K | -1.16M | -1.49M | -1.96M | -1.31M | -1.62M | -481.79K | -1.46M | -1.2M | -1.36M | -990.93K | -1.06M | -703.21K | -405.33K | -1.01M | -887.64K | -775.38K |
| Operating CF Margin % | -920.8% | -5047.97% | -2217.35% | -179.34% | -762.07% | -872.26% | -1380.64% | -378.45% | -155.37% | -23.6% | -96.33% | -38.62% | -60.17% | -55.7% | -79.34% | -38.12% | -22.38% | -84.22% | -141.98% | -81.6% |
| Operating CF Growth % | 25.34% | -73.34% | -114.61% | 44.85% | 28.18% | -208.73% | -34.13% | -9.26% | -19.12% | 51.38% | -37.64% | -71% | -235.56% | 1.94% | -19.83% | 9.31% | 24.16% | -141.73% | 41.72% | -10756.73% |
| Net Income | -1.81M | -2.13M | -3.64M | -20.55M | -3.01M | -2.22M | -2.53M | -2.61M | -2.23M | 339.62K | -491.65K | 1.01M | 1.7M | 183.14K | 64.48K | 499.27K | 1.82M | -274.16K | 1.46M | 1.37M |
| Depreciation & Amortization | 54.3K | 8.87K | 8.87K | 8.87K | 8.87K | 8.87K | 8.87K | 8.87K | 28.33K | 28.33K | 28.33K | 28.33K | 25.91K | 21.08K | 21.08K | 0 | 0 | 0 | 0 | 0 |
| Stock-Based Compensation | 368.52K | 139.37K | 516.07K | 339.37K | 139.37K | 139.37K | 139.37K | 280.52K | 280.52K | 280.52K | 483.35K | 140.61K | 63.06K | 32.95K | 32.95K | 39.02K | 653.98K | 186.09K | 296.98K | 294.49K |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1.71M | 182K | -125K | 181K | 697K | 99K | -297K | -4K | -73K | -86K | 707K | 570.71K |
| Other Non-Cash Items | -1.42M | -1.51K | 249.27K | 18.75M | 1.29M | -14.75K | -10.13K | -898.76K | 2.65M | 0 | -1.16M | -3.51M | -3.96M | -1.29M | -1.02M | -1.12M | -3.04M | 0 | -3.33M | -2.54M |
| Working Capital Changes | 1.94M | -595.54K | -1.35M | 723.72K | 409.57K | 599.57K | 425.41K | 1.9M | -634.57K | -1.31M | -195.05K | 943.87K | 121.28K | -36.07K | 133.02K | -114.13K | 234.49K | -836.42K | -23.29K | -466.54K |
| Change in Receivables | 22.28K | -3.51K | 58.65K | -82.78K | 16.75K | -17.55K | 134.85K | 2.02M | -642.96K | -1.7M | 27.5K | 773.26K | 103.27K | -131.7K | 279.2K | -254.02K | 104.75K | -1.03M | 24.71K | -415.67K |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -189.03K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 452.47K | -692.94K | -1.04M | 799.37K | 396.7K | 597.77K | 313.62K | -120.12K | -4.76K | 398.57K | -33.46K | -18.24K | 179.55K | 71.09K | -144.21K | 133.62K | 79.7K | 81K | -21.9K | 134.89K |
| Cash from Investing | -100K | 0 | 0 | 0 | 0 | -5 | 0 | 0 | 0 | -20K | 0 | 0 | 0 | 0 | 200K | 0 | -72K | -142.66K | -104.5K | -122.91K |
| Capital Expenditures | 0 | 0 | 0 | 0 | 0 | -5 | 5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| CapEx % of Revenue | 0% | 0.01% | - | - | - | 0% | 0% | 0% | - | - | - | - | - | - | - | - | - | - | - | - |
| Acquisitions | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Investments | 5.81M | 5.86M | 5.86M | 5.8M | 24.31M | 25.6M | 25.58M | 25.78M | 22.29M | 24.73M | 24.55M | 23.2M | 19.49M | 15.35M | 13.7M | 13.1M | 11.5M | 9.86M | 9.75M | 6.42M |
| Other Investing | -100K | 0 | 0 | 0 | 0 | 0 | -5 | 0 | 0 | -20K | 0 | 0 | 0 | 0 | 0 | 0 | -72K | -30K | -100K | 0 |
| Cash from Financing | 0 | -300K | 8.49M | 399.7K | 431.11K | 1.98M | 1.96M | 4.97K | 3.26M | 0 | 1.93M | 0 | 1.57M | 0 | 2.95M | 700K | 13.5K | 34.9K | 577.4K | 3.09M |
| Debt Issued (Net) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Equity Issued (Net) | 0 | 0 | 8.51M | 143.21K | 431.11K | 1.98M | 1.96M | 4.97K | 3.26M | 0 | 2.28M | 0 | 1.62M | 0 | 3.95M | 0 | 13.5K | 34.9K | 577.4K | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.2M |
| Net Change in Cash | -968.75K | -2.88M | 4.27M | -324.88K | -732.43K | 491.56K | -8K | -1.31M | 1.64M | -501.79K | 461.18K | -1.2M | 206.69K | -990.93K | 2.08M | -3.21K | -463.83K | -1.12M | -414.74K | 2.19M |
| Free Cash Flow | -868.75K | -2.58M | -4.21M | -724.58K | -1.16M | -1.49M | -1.96M | -1.31M | -1.62M | -481.79K | -1.46M | -1.2M | -1.36M | -990.93K | -1.06M | -703.21K | -405.33K | -1.01M | -887.64K | -775.38K |
| FCF Margin % | -920.8% | -5047.97% | -2217.35% | -179.34% | -762.07% | -872.26% | -1380.64% | -378.45% | -155.37% | -23.6% | -96.33% | -38.62% | -60.17% | -55.7% | -79.34% | -38.12% | -22.38% | -84.22% | -141.98% | -81.6% |
| FCF Growth % | 25.34% | -73.34% | -114.61% | 44.85% | 28.18% | -208.73% | -34.13% | -9.26% | -19.12% | 51.38% | -37.64% | -71% | -235.56% | 1.94% | -19.83% | 9.31% | 24.16% | -141.73% | 41.72% | -10756.73% |
| FCF per Share | -0.15 | -0.54 | -1.47 | -0.33 | -0.61 | -1.57 | -3.96 | -0.11 | -0.14 | -0.05 | -0.20 | -0.24 | -0.26 | -0.23 | -0.34 | -0.26 | -0.14 | -0.37 | -0.40 | -0.39 |
| FCF Conversion (FCF/Net Income) | 0.48x | 1.21x | 1.16x | 0.04x | 0.39x | 0.67x | 0.78x | 0.50x | 0.73x | -1.42x | 2.98x | -1.19x | -0.80x | -5.41x | -16.50x | -1.41x | -0.22x | 3.69x | -0.61x | -0.57x |
| Interest Paid | 0 | 0 | 8.16K | 8.15K | 0 | 16.5K | 8.24K | 15.55K | 943 | 8.39K | 0 | 0 | 767 | 794 | 516 | 2.06K | 482 | 633 | 477 | 4.99K |
| Taxes Paid | 0 | 0 | 0 | -8.24K | 0 | 0 | 8.24K | 50.27K | 943 | 0 | 0 | 205.61K | 767 | 0 | 0 | -1.59K | 0 | 0 | 0 | 472 |