Liquidity is under severe pressure, evidenced by a free cash flow margin of -155.1% in 2026Q1 and a cash balance that has dwindled to $1.4M.
| Cash from Operations | -4.66M | -4.55M | 540.35K | 7M | 9.36M |
| Operating CF Margin % | - | -79.44% | 8.23% | 52.99% | 41.13% |
| Operating CF Growth % | -568.9% | -941.44% | -92.28% | -25.29% | - |
| Net Income | -9.94M | -7.97M | -2.29M | 2.18M | 6.22M |
| Depreciation & Amortization | -37.86K | 0 | 143.69K | 102.8K | 68.49K |
| Stock-Based Compensation | -735.74K | 0 | 0 | 0 | 0 |
| Deferred Taxes | 13.2K | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | -6.28M | 3.37M | 354.09K | -41.35K | 101.69K |
| Working Capital Changes | 1.13M | 44.89K | 2.34M | 4.75M | 2.97M |
| Change in Receivables | -235.09K | 55.85K | 2.41M | 4.67M | 6.88M |
| Change in Inventory | -2.03K | -84.92K | -43.62K | -35.29K | 65K |
| Change in Payables | 487.25K | 188.16K | 0 | 0 | -1.1M |
| Cash from Investing | -637.21K | -616.9K | -46.17K | -490.02K | -422.49K |
| Capital Expenditures | -637.21K | -616.9K | -46.17K | -490.02K | -422.49K |
| CapEx % of Revenue | 11.84% | 10.78% | 0.7% | 3.71% | 1.86% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | 0 |
| Cash from Financing | 1.5M | 5.2M | -3.55M | -7.54M | -4.57M |
| Debt Issued (Net) | 0 | 18.67K | -115.88K | 0 | -173.13K |
| Equity Issued (Net) | 1M | 5.04M | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | -3.33M | -7.4M | -4.45M |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 497.75K | 136.03K | -107.72K | -146.83K | 51.42K |
| Net Change in Cash | -3.8M | 32.81K | -3.06M | -1.04M | 4.37M |
| Free Cash Flow | -4.69M | -5.16M | 494.19K | 6.51M | 8.94M |
| FCF Margin % | -87.09% | -90.22% | 7.53% | 49.28% | 39.27% |
| FCF Growth % | -359.47% | -1144.87% | -92.4% | -27.24% | - |
| FCF per Share | -0.86 | -1.18 | 0.19 | 1.30 | 1.79 |
| FCF Conversion (FCF/Net Income) | 0.47x | 0.57x | -0.24x | 3.21x | 1.51x |
| Interest Paid | 0 | 0 | 5.37K | 8.13K | 6.12K |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 |
Liquidity exhaustion and dilution
As reported in financial statements, CJMB's operating cash flow consistently trails net income, with an OCF/NI ratio of 0.52 in 2026Q1, indicating that the company's reported losses are not merely accounting artifacts but reflect a genuine and ongoing depletion of liquid assets from core operations.
The persistent gap between net income and operating cash flow suggests that the company is struggling to convert its service delivery into actual cash receipts. Investors should monitor whether this trend reflects aggressive revenue recognition or simply an inability to collect on receivables in a timely manner.
Based on recent quarterly data, the company's free cash flow margin has remained deeply negative, reaching -155.1% in 2026Q1, which underscores a structural inability to generate self-sustaining cash flow despite the specialized nature of its logistics services within the life sciences sector.
The trajectory of FCF indicates that the business model is currently incapable of covering its own operating and capital requirements. This persistent cash burn suggests that the company may be forced to seek external financing if it cannot rapidly improve its operational efficiency.
According to recent SEC filings, working capital changes have been highly erratic, swinging from a $709.9K inflow in 2025Q4 to a $326.1K outflow in 2026Q1, which suggests that the company lacks a stable mechanism for managing its short-term assets and liabilities effectively.
This volatility in working capital often points to inconsistent collection cycles or inventory management issues that exacerbate the company's cash burn. Such instability makes it difficult to forecast the company's actual liquidity needs on a quarter-to-quarter basis.
As indicated by historical data, CJMB previously utilized cash for dividends, such as the $3.4M payout in 2024Q1, a decision that appears increasingly questionable given the company's current negative operating margins and the urgent need to preserve capital for core business survival.
The decision to return capital to shareholders while the core business was already showing signs of distress warrants further investigation into management's capital allocation priorities. It appears that these outflows may have unnecessarily weakened the company's balance sheet during a critical period of operational decline.
Quick answers to the most common questions about buying CJMB stock.
Callan JMB Inc. (CJMB) generated $-4.5M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Callan JMB Inc. (CJMB) reported negative free cash flow of $5.2M in 2025, indicating capital requirements exceeded cash from operations.
Callan JMB Inc. (CJMB) spent $0.6M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.