Operational cash flow remains deeply negative with a 2026Q1 FCF margin of -23.9%, further strained by questionable capital allocation such as $154.6K in share repurchases during the same period.
| Cash from Operations | -5.03M | -5.1M | -4.66M | -3.53M | -2.96M | -1.97M | -1.96M | -1.7M | -1.41M | -445.67K | -400.8K | -200.1K | 408 |
| Operating CF Margin % | - | -2000.91% | -1169.64% | -801% | -836.49% | -137.3% | -116.45% | -116.26% | -458.15% | -49.62% | -118.76% | -48.49% | 2.57% |
| Operating CF Growth % | -60.68% | -9.58% | -31.97% | -19.3% | -50.19% | -0.73% | -15.16% | -20.26% | -216.76% | -11.2% | -100.3% | -49145.1% | - |
| Net Income | -4.78M | -4.79M | -3.2M | -4.72M | -4.93M | -3.22M | -2.54M | -3.18M | -2.02M | -626.36K | -440.9K | -221.39K | -20.51K |
| Depreciation & Amortization | 25.07K | 23.8K | 73.61K | 167.98K | 166.27K | 162.16K | 159.81K | 160.02K | 27.99K | 2.18K | 1.13K | 0 | 0 |
| Stock-Based Compensation | 427.91K | 428.55K | 565.27K | 947.3K | 1.57M | 477.86K | 653.15K | 507.47K | 0 | 0 | 0 | 15.4K | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 26.43K | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 56.09K | 42.91K | -2.31M | -32.1K | 172.74K | 774.87K | 21.05K | 518.09K | 336.71K | 72.07K | 0 | -24.02K | 0 |
| Working Capital Changes | -757.82K | -810.26K | 215.57K | 106.19K | 60.93K | -163.35K | -252K | 292.19K | -319.56K | 106.44K | 38.98K | 29.91K | 20.91K |
| Change in Receivables | 333 | -21.54K | 23.5K | 52.14K | -43.61K | -57.11K | -75.13K | 142.58K | -23.66K | 9.02K | 70.99K | -66.61K | 0 |
| Change in Inventory | -26.66K | 26.26K | -55.01K | -178.3K | -53.68K | 21.23K | 21.29K | 15.93K | -48.79K | 30.33K | -53.26K | -9.47K | 0 |
| Change in Payables | -338.24K | -342.3K | 272.84K | 168.03K | -21.72K | 77.01K | 25.6K | -43.63K | -149.75K | 80.74K | 96.99K | 27 | 21.22K |
| Cash from Investing | -784.6K | -185.76K | 7.13M | 54.15K | -211.26K | -22.99K | -1.31K | -565.11K | -4.6M | 0 | -8.24K | 217.12K | 0 |
| Capital Expenditures | -5.02K | -28.11K | -18.69K | -20.62K | -42.19K | -22.99K | -1.31K | -216.59K | -4.6M | 0 | -8.24K | 0 | 0 |
| CapEx % of Revenue | 4.46% | 11.02% | 4.69% | 4.68% | 11.93% | 1.6% | 0.08% | 14.83% | 1492.81% | - | 2.44% | - | - |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -348.52K | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -779.57K | -157.65K | 7.15M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 217.12K | 0 |
| Cash from Financing | 9.64M | 9.65M | 706.09K | -434.05K | -1.16M | 10.09M | 346.86K | 0 | 10.07M | 500K | -82.9K | 766.06K | 7K |
| Debt Issued (Net) | 0 | 0 | -1M | 1M | 0 | 20.65K | 346.86K | 0 | -548.95K | 500K | -82.9K | -261.76K | 120K |
| Equity Issued (Net) | 318.07K | 9.65M | 1.71M | -1.43M | -1M | 10.33M | 0 | 0 | 10.62M | 0 | 0 | 1.03M | 29.25K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -504.43K | -494.39K | -669.91K | -1.43M | -1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 9.32M | 0 | 0 | 0 | -158.55K | -258.96K | 0 | 0 | 0 | 0 | 0 | 0 | -142.25K |
| Net Change in Cash | 3.82M | 4.35M | 3.16M | -3.92M | -4.34M | 8.1M | -1.61M | -2.26M | 4.06M | 54.33K | -491.94K | 783.08K | 7.41K |
| Free Cash Flow | -5.04M | -5.13M | -4.68M | -3.55M | -3M | -1.99M | -1.96M | -1.91M | -6.01M | -445.67K | -409.04K | -200.1K | 408 |
| FCF Margin % | -4467.09% | -2011.93% | -1174.33% | -805.68% | -848.42% | -138.9% | -116.52% | -131.09% | -1950.97% | -49.62% | -121.2% | -48.49% | 2.57% |
| FCF Growth % | -0.29% | -9.74% | -31.73% | -18.31% | -50.58% | -1.84% | -2.2% | 68.16% | -1248.86% | -8.96% | -104.41% | -49145.1% | - |
| FCF per Share | -27.14 | -27.65 | -27.85 | -23.54 | -18.38 | -12.74 | -12.74 | -12.47 | -42.43 | -3.44 | -3.15 | -7.99 | 0.02 |
| FCF Conversion (FCF/Net Income) | 1.05x | 1.07x | 1.46x | 0.75x | 0.60x | 0.61x | 0.77x | 0.53x | 0.70x | 0.71x | 0.91x | 0.90x | -0.02x |
| Interest Paid | 0 | 0 | 4.21K | 13.14K | 12.16K | 42.97K | 1.83K | 0 | 0 | 105.83K | 501 | 0 | 0 |
| Taxes Paid | 0 | 3.81K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 694 | 495 | 0 | 0 |
Liquidity depletion and burn
According to quarterly cash flow statements, FCUV consistently reports operating cash outflows that track closely with net losses, with an OCF/NI ratio of 0.92 in 2026Q1, suggesting that the company lacks the non-cash accruals necessary to bridge the gap between accounting losses and actual cash depletion.
The tight correlation between net income and operating cash flow indicates that the company's losses are largely cash-based rather than driven by non-cash accounting charges. This suggests that the firm's operational structure is fundamentally cash-negative, leaving little room for earnings quality improvements through accrual management.
As reported in recent financial filings, FCUV's free cash flow trajectory remains deeply negative, with a 2026Q1 FCF margin of -23.9%, highlighting the company's inability to generate self-sustaining cash flows while maintaining its current level of research and development and administrative overhead.
The consistent negative free cash flow across all observed periods underscores a business model that is currently unable to cover its own operating costs. Investors should monitor whether the company can achieve any meaningful scale, as the current trajectory suggests a continued reliance on external capital to fund operations.
Based on the provided cash flow data, FCUV has utilized its limited liquidity to fund share repurchases, including $154.6K in 2026Q1, despite generating significant negative free cash flow, which appears to be a questionable use of capital given the company's ongoing operational distress.
The decision to prioritize share repurchases while the core business is burning cash warrants further investigation into management's capital allocation priorities. This strategy may indicate a focus on supporting equity valuation rather than investing in the commercialization of the USIP platform.
As indicated by the historical data, the company's cash flow statement is heavily influenced by stock-based compensation, which reached $470.8K in 2024Q3, effectively masking the true extent of the cash burn required to retain talent during a period of significant revenue contraction.
The reliance on stock-based compensation as a non-cash add-back to operating cash flow may provide a misleading picture of the company's actual cash requirements. Analysts should adjust for these items to understand the true cash cost of operations, which appears significantly higher than the reported operating cash flow figures suggest.
Quick answers to the most common questions about buying FCUV stock.
Focus Universal Inc. (FCUV) generated $-5.1M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Focus Universal Inc. (FCUV) reported negative free cash flow of $5.1M in 2025, indicating capital requirements exceeded cash from operations.
Focus Universal Inc. (FCUV) spent $0.0M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, Focus Universal Inc. (FCUV) spent $0.5M on share repurchases. This shows the company's commitment to returning capital to its equity investors.