Rafael Holdings, Inc. (RFL) 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 | -7.28M | -7.51M | -6.81M | -10.38M | -3.19M | -2.31M | -3.04M | -2.89M | -251K | -2.53M | -2.13M | -1.45M | -1.31M | -5.54M | -2.58M | -1.9M | -10.37M | -7.34M | -6.47M | -6.98M |
| Operating CF Margin % | -4069.27% | -3559.72% | -2835.83% | -2965.43% | -881.22% | -3006.49% | -2376.56% | -1750.91% | -74.7% | -3719.12% | -3136.76% | -2129.41% | -1850.7% | -7920% | -3685.71% | 73.13% | -1184.69% | -660.99% | -630.99% | -3693.65% |
| Operating CF Growth % | -128.34% | -224.45% | -123.73% | -259.26% | -1170.92% | 8.46% | -42.62% | -99.52% | 80.9% | 54.38% | 17.33% | 23.87% | 87.32% | 24.44% | 60.15% | 72.75% | -235.14% | -155.29% | -144.03% | -312.83% |
| Net Income | -4.23M | 9.88M | -9.8M | 236K | -4.05M | -5.33M | -9.21M | -4.85M | -62.29M | 6.05M | -3.76M | 7.73M | -1.49M | -3.25M | -5.21M | -3.02M | -4.96M | -2.06M | -129.41M | -12.15M |
| Depreciation & Amortization | 48K | 55K | 50K | 50K | 62K | 90K | 86K | 68K | 102K | 38K | 17K | 18K | 19K | 19K | 22K | -1.07M | 17K | 18K | 382K | 18K |
| Stock-Based Compensation | 0 | -598K | 598K | 0 | 353K | 502K | 359K | 436K | 496K | 715K | 649K | 540K | 591K | -123K | 1.18M | 1.17M | 1.01M | -10.95M | 7.85M | 5.61M |
| Deferred Taxes | -6K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1.13M | 284K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 114.81M | -9K |
| Other Non-Cash Items | -2.2M | -14.41M | -88K | -11.55M | 983K | 2.02M | 5.5M | 1.08M | 61.65M | -7.87M | 1.14M | -9.53M | -228K | -936K | -153K | -442K | 1.21M | 452K | -63K | 5.4M |
| Working Capital Changes | -897K | -2.43M | 2.43M | 881K | -537K | 401K | 222K | 382K | -204K | -324K | -464K | -212K | -206K | -1.25M | 1.58M | 1.46M | -6.63M | 5.2M | -40K | -237K |
| Change in Receivables | 1K | -1.42M | 1.42M | -486K | -164K | 439K | 302K | 43K | -45K | -236K | -18K | -64K | -15K | -226K | -59K | 464K | -230K | 78K | -496K | -1K |
| Change in Inventory | -5K | -9K | 9K | 7K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 492K | 0 |
| Change in Payables | -1.14M | -457K | 457K | -298K | -230K | -278K | -118K | 456K | -230K | -106K | -266K | -112K | -560K | -1.17M | 1.02M | 231K | -5.54M | 5.31M | 48K | 623K |
| Cash from Investing | 6K | -255K | -430K | 163K | -7.2M | 42.5M | 8.57M | -1.87M | 631K | -2.79M | -6.79M | 7.41M | 7.39M | -7.56M | 13.97M | -6.38M | -30.48M | -33K | -26.9M | 531K |
| Capital Expenditures | 0 | 0 | 0 | 0 | 9K | -8K | -6K | -8K | -124K | -11K | 0 | 0 | 0 | 0 | 0 | 85K | 61K | -33K | -29K | 0 |
| CapEx % of Revenue | - | 2.37% | - | 0.29% | 2.49% | 10.39% | 4.69% | 4.85% | 36.9% | 16.18% | - | - | - | - | - | -3.27% | 6.97% | 2.97% | 2.83% | 16.4% |
| Acquisitions | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 6K | -755K | 70K | 163K | -4.51M | 9.01M | -9.01M | -3.94M | -2.88M | -1.74M | -250K | -3.77M | -2M | 31K | 48.17M | -113K | 25M | -33K | -26.88M | 1.24M |
| Cash from Financing | -28K | -44K | -30K | 24.9M | 11K | -27K | -48K | -24K | -30K | -932K | 807K | -35K | -26K | -151K | -15.01M | 6M | -1K | -41K | 97.91M | 14.53M |
| Debt Issued (Net) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Equity Issued (Net) | 0 | 0 | 0 | 25M | 44K | 0 | 0 | 0 | 0 | -125K | 846K | 0 | 0 | 0 | 0 | 6M | 0 | 0 | 104.17M | 28K |
| 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 | -89K | -79K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -33K | -32K | -36K | -107K | -36K | -27K | -48K | -24K | -30K | -7K | -39K | -35K | -26K | -151K | -15.01M | -3K | -1K | -41K | -6.26M | 14.5M |
| Net Change in Cash | -7.28M | -7.76M | -7.23M | 14.83M | -10.38M | 40.16M | 5.48M | -4.76M | 300K | -6.06M | -8.3M | 6.06M | 5.77M | -13.16M | -3.7M | -2.43M | -41.06M | -7.36M | 64.53M | 8.18M |
| Free Cash Flow | -7.28M | -7.52M | -6.81M | -10.38M | -3.18M | -2.32M | -3.06M | -2.92M | -389K | -2.54M | -2.13M | -1.45M | -1.31M | -5.54M | -2.58M | -1.82M | -10.3M | -7.34M | -6.5M | -6.95M |
| FCF Margin % | -4069.27% | -3562.09% | -2835.83% | -2965.14% | -878.73% | -3016.88% | -2388.28% | -1768.48% | -115.77% | -3735.29% | -3136.76% | -2129.41% | -1850.7% | -7920% | -3685.71% | 69.86% | -1177.71% | -661.17% | -633.82% | -3677.25% |
| FCF Growth % | -128.98% | -223.55% | -122.64% | -255.65% | -717.74% | 8.54% | -43.32% | -101.52% | 70.4% | 54.18% | 17.33% | 20.31% | 87.25% | 24.46% | 60.33% | 73.86% | -229.76% | -150.14% | -132.42% | -300.81% |
| FCF per Share | -0.14 | -0.15 | -0.13 | -0.24 | -0.13 | -0.10 | -0.13 | -0.12 | -0.02 | -0.11 | -0.09 | -0.07 | -0.06 | -0.24 | -0.11 | -0.09 | -0.52 | -0.37 | -0.34 | -0.42 |
| FCF Conversion (FCF/Net Income) | 1.72x | 1.17x | 0.69x | 0.86x | 0.67x | 0.50x | 0.34x | 0.65x | 0.01x | -0.42x | 0.59x | -1.19x | 0.91x | 1.71x | 0.50x | 0.40x | 1.87x | 3.16x | 0.05x | 0.56x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |