Cash generation remains highly erratic, with the company paying $1.5 million in dividends during 2026Q1 despite reporting a net loss of $2.9 million and negative free cash flow.
| Cash from Operations | -7.08M | -6.39M | -9.14M | -5.47M | -736.97K | 1.38M | -1.33M | -505.51K |
| Operating CF Margin % | - | -80.67% | -267.59% | -138.87% | -18.89% | 32.82% | -61.67% | - |
| Operating CF Growth % | 50.24% | 30.07% | -67.05% | -642.3% | -153.59% | 203.49% | -162.88% | - |
| Net Income | -18.72M | -17.46M | -2.52M | -3.32M | -997.46K | 584.39K | 10.64K | -15.64K |
| Depreciation & Amortization | 989.87K | 1.11M | 972.13K | 523.38K | 345.29K | 396.25K | 26.41K | 0 |
| Stock-Based Compensation | 1.08M | 1.58M | 33.34K | 145.55K | 829.5K | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 | -2.02M | 0 | 0 | 0 |
| Other Non-Cash Items | 5.34M | 3.05M | -8.24M | -1.25M | 1.19M | -19.31K | 0 | 0 |
| Working Capital Changes | 4.23M | 5.32M | 619.57K | -1.58M | -84.8K | 413.96K | -1.37M | -489.87K |
| Change in Receivables | 622.71K | 1.21M | -583.59K | -395K | -1.26M | 671.73K | -756.1K | 0 |
| Change in Inventory | 1.35M | 1.63M | 329.1K | -1.23M | 97.14K | 381.38K | -1.68M | -495.15K |
| Change in Payables | 552.24K | 1.39M | 334.41K | 32.65K | 76.94K | -636.15K | 50.48K | 5.28K |
| Cash from Investing | -94.89K | -19.48K | -977.82K | -484.86K | -45.66K | -229.47K | -4.26M | 0 |
| Capital Expenditures | -94.89K | -19.48K | -310.82K | -76.64K | -689.25K | -229.47K | -4.26M | 0 |
| CapEx % of Revenue | 1.36% | 0.25% | 9.1% | 1.95% | 17.66% | 5.48% | 197.52% | - |
| Acquisitions | 0 | 0 | -625K | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | -42K | -408.22K | 643.6K | 0 | 0 | 0 |
| Cash from Financing | 8.62M | 6.53M | 4.45M | -25.24K | 12.35M | -856.79K | 5.91M | 505.51K |
| Debt Issued (Net) | -1.06M | 2.99M | 0 | 0 | -579.01K | -546.51K | 1.13M | 0 |
| Equity Issued (Net) | 9.68M | 3.53M | 2.65M | -25.24K | 12.9M | 0 | 4.79M | 505.51K |
| Dividends Paid | -1.51M | 0 | 0 | -1.21M | 0 | -310.28K | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | -25.24K | 0 | 0 | 0 | 0 |
| Other Financing | 1.51M | 0 | 1.8M | 1.21M | 30K | 0 | 0 | 0 |
| Net Change in Cash | 1.45M | 116.47K | -5.67M | -5.98M | 11.57M | 289.04K | 326.71K | 0 |
| Free Cash Flow | -7.17M | -6.41M | -9.49M | -5.96M | -782.63K | 1.15M | -5.58M | -505.51K |
| FCF Margin % | -102.92% | -80.92% | -277.92% | -151.17% | -20.06% | 27.34% | -259.19% | - |
| FCF Growth % | 25.64% | 32.46% | -59.37% | -660.95% | -168.3% | 120.52% | -1004.82% | - |
| FCF per Share | -0.26 | -0.37 | -0.75 | -0.67 | -0.14 | 0.23 | -0.87 | -0.10 |
| FCF Conversion (FCF/Net Income) | 0.38x | 0.37x | 3.63x | 1.65x | 0.35x | 2.35x | -124.88x | 32.33x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 49.35K | 43.3K | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 109.5K | 68 | 68 | 0 |
Liquidity and capital exhaustion
According to recent financial disclosures, LASE exhibits a persistent disconnect between net losses and operating cash flow, with the OCF/NI ratio fluctuating wildly, including a -4.60 reading in 2024Q4, which suggests that reported earnings are not currently serving as a reliable proxy for actual cash generation.
The extreme volatility in the OCF/NI ratio indicates that non-cash items and working capital swings are masking the underlying cash burn. Investors should monitor this divergence, as it suggests that the company's operational efficiency is significantly lower than what headline net income figures might imply.
As reported in quarterly filings, LASE has struggled to achieve positive free cash flow, with the exception of a brief 2025Q3 window, as the company's FCF margins remain deeply negative, reflecting a business model that is currently consuming rather than generating liquid capital for shareholders.
The inability to sustain positive free cash flow suggests that the company's growth initiatives are heavily reliant on external financing. This trajectory warrants further investigation into whether the current capital expenditure levels are sufficient to support the stated revenue growth targets without further diluting equity holders.
Based on the provided cash flow statements, working capital changes have been highly erratic, swinging from a $1.9M inflow in 2025Q1 to a $519.8K outflow in 2024Q2, which indicates that the company's cash conversion cycle is currently unstable and difficult to forecast for institutional planning.
These fluctuations suggest that the company may be struggling with the timing of inventory procurement and the collection of accounts receivable from its industrial clients. Such instability in working capital management appears to be a primary driver of the company's recurring liquidity pressure.
As indicated by historical data, LASE has continued to pay dividends despite reporting significant net losses and negative operating cash flow, with $1.5M in dividends paid in 2026Q1, a practice that appears inconsistent with the company's urgent need to preserve its limited $650,339 cash balance.
This capital allocation strategy raises questions regarding management's prioritization of shareholder returns over operational solvency. Investors should monitor whether these dividend payments are sustainable or if they represent a significant risk to the company's near-term financial viability.
Quick answers to the most common questions about buying LASE stock.
Laser Photonics Corporation (LASE) generated $-6.4M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Laser Photonics Corporation (LASE) reported negative free cash flow of $6.4M in 2025, indicating capital requirements exceeded cash from operations.
Laser Photonics Corporation (LASE) 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.