Liquidity remains under extreme pressure, with free cash flow recording a $1.1 million deficit in 2026Q3 and cash reserves dwindling to a critical $372,000.
| Metric | TTM | Jun'25 | Jun'24 | Jun'23 | Jun'22 | Jun'21 | Jun'20 | Jun'19 | Jun'18 | Jun'17 | Jun'16 | Jun'15 | Jun'14 | Jun'13 | Jun'12 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 |
|---|
| Cash from Operations | -7.26M | 610K | -4.8M | -3.57M | -23.89M | -18.36M | -8.34M | -10.71M | -6.5M | -5.7M | -3.92M | -2.36M | -2.15M | -3.37M | -1.49M | -31.97K | -7.47K | -7.99M | 2.15M | -1M | -1.64M | -56.54K | 7.18K | 234.62K | -7.66K | -330K | -30K |
| Operating CF Margin % | - | 0.92% | -7.89% | -5.38% | -56.44% | -69.92% | -49.54% | -114.97% | -157.84% | -631.71% | -702.51% | -330.49% | -600.84% | -436.66% | -25.19% | - | - | - | - | -6.55% | -12.12% | -0.44% | 0.06% | 119097.97% | - | - | - |
| Operating CF Growth % | -482.05% | 112.71% | -34.25% | 85.04% | -30.15% | -120.01% | 22.11% | -64.8% | -14.08% | -45.36% | -65.89% | -9.86% | 36.19% | -125.64% | -4572.55% | -327.75% | 99.91% | -472.15% | 313.8% | 38.65% | -2793.41% | -887.05% | -96.94% | 3162.56% | 97.68% | -1000% | - |
| Net Income | -6.32M | -6.67M | -8.33M | -7.74M | -16.47M | -12.79M | -14.34M | -12.41M | -6.96M | -4.43M | -4.57M | -2.42M | -4.3M | 351K | -2.38M | -49.98K | -36.98K | 32.48M | -25.43M | -6.23M | -2.61M | -868.41K | -316.31K | 87.03K | -6.34M | -4.39M | -30K |
| Depreciation & Amortization | 999K | 1M | 1.04M | 899K | 575K | 274K | 141K | 81K | 57K | 40K | 25K | 32K | 55K | 44K | 30K | 0 | 0 | 0 | 0 | 548.8K | 705.32K | 687.42K | 0 | 0 | 2.48K | 0 | 0 |
| Stock-Based Compensation | 882K | 979K | 1.57M | 798K | 711K | 797K | 1.8M | 1.94M | 255K | 40K | 109K | 237K | 239K | 94K | 45K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -14K | -11K | -552K | 330K | -5.73M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 859K | 1.36M | 1.33M | 1.68M | 1.1M | 45K | 2.27M | 960K | 49K | 82K | 415K | 98K | 1.68M | 1.64M | 568K | 0 | 0 | -40.56M | 27.58M | 70K | 0 | 237.51K | 12.04K | 8.17K | 6.32M | 4.05M | -10K |
| Working Capital Changes | -3.69M | 3.94M | -407K | 788K | -9.81M | -6.68M | 1.78M | -1.28M | 104K | -1.41M | 113K | 237K | -160K | 229K | 248K | 18K | 29.5K | 87.53K | 0 | 4.61M | 269.44K | -113.06K | 311.45K | 139.42K | 15K | 10K | 10K |
| Change in Receivables | 5.97M | -1.72M | -973K | -191K | -2.51M | -3.03M | -653K | -1.47M | -866K | 2K | -13K | 71K | -127K | 41K | -13K | 0 | 0 | 0 | 0 | 0 | -1.6M | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Inventory | -251K | -788K | -1.31M | -2.41M | -5.55M | -5.06M | -1.76M | -2.3M | 54K | -1.36M | -21K | -96K | 104K | 653K | 1.26M | 0 | 0 | 0 | 0 | 1.04M | 204.7K | -1.02M | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | -6.48M | 5.02M | 1.52M | 3.23M | -530K | 2.53M | 2.17M | 2.06M | 51K | -159K | -42K | 133K | -50K | 77K | 284K | 0 | 0 | 0 | 0 | 0 | 1.39M | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | -560K | -653K | -853K | -1.02M | -797K | -1.1M | -323K | -275K | -85K | -53K | -5K | -16K | -1K | -41K | -60K | 0 | 0 | 7.99M | 0 | -5.44M | -3.61M | -2.38M | 4.29M | -4.28M | 0 | -10K | 0 |
| Capital Expenditures | -155K | -653K | -853K | -1.03M | -797K | -1.1M | -323K | -275K | -85K | -53K | -5K | -25K | -4K | -41K | -60K | 0 | 0 | 0 | 0 | -5.44M | -5.33M | -4.05M | 0 | -4.24M | 0 | -10K | 0 |
| CapEx % of Revenue | 0.31% | 0.98% | 1.4% | 1.55% | 1.88% | 4.2% | 1.92% | 2.95% | 2.06% | 5.88% | 0.9% | 3.5% | 1.12% | 5.31% | 1.01% | - | - | - | - | 35.49% | 39.47% | 31.17% | - | 2153205.08% | - | - | - |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -405K | 0 | 0 | 8K | 0 | 0 | 0 | -340K | -85K | -53K | -5K | 9K | 3K | 0 | 0 | 0 | 0 | 7.99M | 0 | 0 | 1.72M | 1.67M | 4.25M | 0 | 0 | 0 | 0 |
| Cash from Financing | 7.69M | 734K | 3.92M | 6.49M | 20.46M | 23.45M | 9.29M | 8.38M | 9.17M | 5.75M | 4M | 2.32M | 2.25M | 2.62M | 2.13M | 33K | 7.47K | 0 | 0 | 6.35M | 4.81M | 1.81M | -4.29M | 4.04M | 8K | 330K | 40K |
| Debt Issued (Net) | -5.55M | 637K | 3.77M | 4.94M | 4.89M | -2.61M | 7.92M | 3.99M | 5.2M | 4.67M | 2.95M | 1.81M | 972K | 1.62M | 1M | 33K | 7.47K | 0 | 0 | 6.35M | 3.48M | 9.06M | -1.29M | 4.01M | 0 | 0 | 0 |
| Equity Issued (Net) | 13.25M | 0 | 0 | 1.56M | 15.57M | 26.05M | 1.37M | 4.39M | 3.98M | 1.07M | 1.05M | 501K | 1.28M | 980K | 1.13M | 0 | 0 | 0 | 0 | 0 | 4.23M | 0 | -7.3K | 30.32K | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 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 | 0 | 0 | -30.32K | 0 | 0 | 30K | 40K |
| Other Financing | -1K | 97K | 141K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 22K | 0 | 0 | 0 | 0 | 0 | 0 | -303.32K | -5.31M | 7.3K | 0 | 8K | 330K | 40K |
| Net Change in Cash | -133K | 691K | -1.74M | 1.89M | -4.23M | 3.99M | 624K | -2.6M | 2.58M | -6K | 74K | -63K | 96K | -792K | 572K | 1.03K | 0 | 0 | 0 | -122.12K | -98.17K | -881.02K | -4.29M | 4.04M | 339 | -10K | 10K |
| Free Cash Flow | -7.42M | -43K | -5.65M | -4.61M | -24.69M | -19.46M | -8.67M | -10.99M | -6.58M | -5.75M | -3.92M | -2.39M | -2.15M | -3.41M | -1.55M | -31.97K | -7.47K | -7.99M | 2.15M | -6.44M | -6.96M | -4.11M | 7.18K | -4.01M | -7.66K | -340K | -30K |
| FCF Margin % | -14.65% | -0.06% | -9.29% | -6.93% | -58.32% | -74.11% | -51.46% | -117.92% | -159.91% | -637.58% | -703.4% | -333.99% | -601.96% | -441.97% | -26.21% | - | - | - | - | -42.04% | -51.58% | -31.61% | 0.06% | -2034107.11% | - | - | - |
| FCF Growth % | -905.43% | 99.24% | -22.69% | 81.34% | -26.88% | -124.53% | 21.12% | -66.85% | -14.5% | -46.52% | -64.36% | -10.81% | 36.84% | -119.56% | -4760.2% | -327.75% | 99.91% | -472.15% | 133.31% | 7.48% | -69.59% | -57258.84% | 100.18% | -52206.37% | 97.75% | -1033.33% | - |
| FCF per Share | -0.35 | -0.00 | -0.34 | -0.29 | -1.60 | -1.65 | -1.69 | -2.52 | -2.12 | -2.29 | -2.63 | -2.40 | -2.31 | -7.21 | -3.53 | -0.04 | -0.01 | -9.30 | 2.50 | -250.30 | -8.12 | -4.79 | 0.02 | -8.67 | -0.02 | -0.02 | -0.00 |
| FCF Conversion (FCF/Net Income) | 1.17x | -0.09x | 0.58x | 0.46x | 1.45x | 1.44x | 0.58x | 0.86x | 0.93x | 1.28x | 0.86x | 0.98x | 0.50x | -9.60x | 0.63x | 0.64x | 0.20x | -0.25x | -0.08x | 0.16x | 0.59x | 0.22x | -0.13x | 2.70x | 0.00x | 0.08x | 1.00x |
| Interest Paid | 724K | 1.24M | 1.41M | 1.13M | 151K | 59K | 137K | 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 | 1K | 1K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Liquidity and capital exhaustion
According to the company's quarterly cash flow statements, the relationship between net income and operating cash flow is erratic, with the OCF/NI ratio swinging from -8.59 in 2026Q2 to 1.36 in 2025Q4, suggesting that reported earnings provide little visibility into actual cash generation capabilities.
The extreme variance in the conversion ratio indicates that accruals and non-cash adjustments are dominating the bottom line, rather than core operational efficiency. Investors should monitor this divergence as it suggests that net income is currently an unreliable proxy for the company's underlying cash-generating health.
As reported in financial filings, Flux Power's free cash flow trajectory is characterized by persistent deficits, with the company recording a negative $1.1 million in 2026Q3, highlighting a structural inability to fund operations through internal cash generation despite the company's ongoing efforts to scale its product offerings.
The recurring negative FCF margins, which reached as low as -37.4% in 2026Q2, underscore the company's reliance on external financing to sustain its current business model. This trend suggests that the path to self-funded growth remains elusive and may require further capital dilution to bridge the gap.
Based on the provided cash flow data, working capital changes have been highly unstable, ranging from a $6.8 million outflow in 2026Q2 to a $3.7 million inflow in 2025Q2, indicating that the company's cash position is heavily dependent on the timing of inventory and accounts receivable cycles.
These dramatic fluctuations in working capital suggest that the company is struggling to manage its cash conversion cycle effectively, likely due to supply chain pressures or uneven customer payment terms. Such volatility in working capital management may exacerbate the company's existing liquidity constraints during periods of lower sales volume.
As indicated by the company's reported cash flow statements, stock-based compensation remains a consistent add-back to operating cash flow, with quarterly figures frequently exceeding $200,000, which effectively masks the true extent of the company's cash burn by inflating the reported operating cash flow figures.
While stock-based compensation is a standard non-cash expense, its persistence in the face of negative net income suggests that the company is utilizing equity to preserve cash. Analysts should adjust for this to understand the true cash-based cost of operations, which appears significantly higher than the headline operating cash flow suggests.
Quick answers to the most common questions about buying FLUX stock.
Flux Power Holdings, Inc. (FLUX) generated $0.6M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Flux Power Holdings, Inc. (FLUX) reported negative free cash flow of $0.0M in 2025, indicating capital requirements exceeded cash from operations.
Flux Power Holdings, Inc. (FLUX) spent $0.7M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.