Operational sustainability is threatened by a persistent cash burn, evidenced by nine of the last ten quarters reporting negative free cash flow, including a $516,000 outflow in 2025Q4.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Mar'18 | Mar'17 | Mar'16 | Mar'15 | Mar'14 | Mar'13 | Feb'12 | Feb'11 | Feb'10 | Feb'09 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Cash from Operations | -3.11M | -4.57M | -4.1M | -947.3K | -6.95M | -9.02M | -2.53M | -1.39M | -357.72K | -369.06K | -338.65K | -359.52K | -612.55K | -237.18K | -17.5K | -24.16K | -12.25K | -49.73K | -817.84K | -2.2M | -2.77M | -1.04M | 694.71K | 1.51M | -62.48K | 2.4M | 1.2M | -100K | 400K |
| Operating CF Margin % | - | -4.66% | -669.48% | -29.71% | -32.69% | -40.64% | -29.71% | -23.19% | - | - | - | - | - | - | - | - | - | - | -8.45% | -17.49% | -15.2% | -5.64% | 3.11% | 5.3% | -0.23% | 10.71% | 9.02% | -0.98% | 6.45% |
| Operating CF Growth % | -68.74% | -11.46% | -332.55% | 86.37% | 22.93% | -256.89% | -81.63% | -288.82% | 3.07% | -8.98% | 5.81% | 41.31% | -158.27% | -1255.23% | 27.55% | -97.15% | 75.36% | 93.92% | 62.9% | 20.31% | -165.32% | -250.07% | -53.94% | 2513.86% | -102.6% | 100% | 1300% | -125% | - |
| Net Income | -9.89M | -14.98M | -22.59M | -6.66M | -16.47M | -16.33M | -17.04M | -11.84M | -471.84K | -442.7K | -305.85K | 1.1M | -3.94M | -1.11M | 0 | -41.97K | -54.95K | -92.66K | -2.22M | -3.77M | -6.27M | -2.57M | -3.21M | 8.55K | 492.93K | 1.3M | 400K | 100K | 800K |
| Depreciation & Amortization | 2.85M | 2.42M | 1.05M | 1.3M | 3.66M | 2.74M | 687.85K | 478.19K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5K | 2.94K | 941.54K | 759.54K | 865.44K | 982.17K | 1.02M | 1.11M | 799.97K | 500K | 400K | 300K | 100K |
| Stock-Based Compensation | 1.11M | 4.68M | 5.61M | 1.49M | 4.11M | 5.4M | 3.22M | 4.64M | 28.6K | 361 | 0 | 9.58K | 479.36K | 268.86K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 32.84K | 1.89M | -590.84K | -1.33M | 43.19K | 5.52K | 100K | 300K | 100K | -500K |
| Other Non-Cash Items | 3.21M | 2.77M | 11.95M | 939.73K | 4.32M | 2.25M | 10.16M | 2.19M | 7.12K | 33.07K | -79.67K | -1.67M | 2.55M | 632.17K | -20.98K | 2.3K | 29.45K | 37.92K | 395.82K | 848.46K | 123.48K | 526.08K | 3.96M | -11.62K | 133.72K | 200K | -200K | -100K | 0 |
| Working Capital Changes | -507.45K | 539K | -123.88K | 1.98M | -2.56M | -3.08M | 442.53K | 3.15M | 78.4K | 40.21K | 46.87K | 193.54K | 297.12K | -23.79K | 3.48K | 15.51K | 8.25K | 2.07K | 60.23K | -79.12K | 617.49K | 608.86K | 259.34K | 355.19K | -1.49M | 300K | 300K | -500K | 0 |
| Change in Receivables | -429.88K | -1.33M | 457.96K | 1.97M | -1.44M | -4.7M | -131.55K | -63.14K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 18.92K | 324.77K | 204.46K | -310.64K | 200.99K | 57.56K | -543.49K | -100K | -100K | -200K | -100K |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 187.93K | 529.9K | -575.44K | -103.38K | 421.16K | 466.11K | -80.34K | 100K | -200K | -700K | -100K |
| Change in Payables | -317.52K | 0 | -320.19K | -18.49K | -758.64K | 0 | 563.03K | 0 | 36.76K | -52.01K | -38.17K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | 0 | -400K | 1.76M | 0 | -350.1K | -2.24M | -32.99K | 80.74K | -66.54K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -10K | -441.74K | 689.94K | -1.83M | -237.2K | 68.19K | -1.38M | -885.35K | -5.5M | -1M | -1.7M | -100K |
| Capital Expenditures | 0 | -400K | 0 | 0 | -74.61K | 0 | -50K | -3.46K | -57.5K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -108.74K | -241.27K | -1.32M | -406.89K | -717.51K | -1.8M | -1.16M | -1.4M | -700K | -1.6M | -100K |
| CapEx % of Revenue | 0% | 0.41% | - | - | 0.35% | 0% | 0.59% | 0.06% | - | - | - | - | - | - | - | - | - | - | 1.12% | 1.91% | 7.27% | 2.2% | 3.22% | 6.33% | 4.36% | 6.25% | 5.26% | 15.69% | 1.61% |
| Acquisitions | 0 | 0 | 1.76M | 0 | 0 | -2.24M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1.65M | 0 | 0 | 0 | -1.15M | 0 | 0 | -192K | -1.33M | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | -275.49K | 0 | 0 | 15.5K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -10K | 171.98K | 142.44K | 312.06K | 212.83K | 839.54K | -321.59K | -250.81K | 0 | -108K | 1.23M | 0 |
| Cash from Financing | 3.85M | 2.62M | 3.86M | 1.01M | 5.66M | 13.74M | 2.35M | 1.6M | 635.87K | 357.8K | 338.5K | 368.66K | 615.5K | 238.47K | 16K | 24.23K | 9.15K | 65K | 1.41M | 1.04M | 2.88M | 2.38M | -537.79K | 781.28K | -638.38K | -500K | -700K | 7.4M | -200K |
| Debt Issued (Net) | 1M | 775K | -1.07M | -11.78K | 5.66M | 1.68M | 2.86M | -60.03K | 154.5K | 357.8K | 428.5K | 368.66K | 615.5K | 238.47K | 16K | 24.23K | 9.15K | 65K | 1.77M | -369.83K | -1.68M | -629.02K | -566.94K | 659.28K | -78.95K | -200K | -100K | -5.04K | -100K |
| Equity Issued (Net) | 2.84M | 1.84M | 4.33M | 705.51K | 0 | 13.8M | 25K | 1.26M | 471.37K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 19.38K | 1.47M | 4.56M | 3.01M | 29.06K | 122K | -579.35K | -300K | -400K | 8.3M | 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 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -215K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -388.3K | 0 | 0 | 0 | -1.72M | -300K | -400K | 0 | 0 |
| Other Financing | 0 | 0 | 599.24K | 315.18K | 0 | -1.74M | -528.84K | 397.25K | 10K | 0 | -90K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -380.03K | -58.34K | 0 | 0 | 88 | 0 | 19.92K | 0 | -200K | -894.96K | -100K |
| Net Change in Cash | 732.83K | -2.35M | 1.52M | 61.6K | -1.64M | 2.48M | -206.35K | 292.1K | 211.62K | -11.26K | -148 | 9.14K | 2.95K | 1.3K | -1.5K | 68 | -3.1K | 5.27K | 150.92K | -470.1K | -1.72M | 1.1M | 225.11K | 905.5K | -1.59M | -3.6M | -500K | 5.6M | -100K |
| Free Cash Flow | -3.11M | -4.97M | -4.1M | -947.3K | -8.35M | -9.02M | -2.58M | -1.41M | -415.22K | -369.06K | -338.65K | -359.52K | -612.55K | -237.18K | -17.5K | -24.16K | -12.25K | -49.73K | -926.58K | -2.45M | -4.09M | -1.45M | -22.8K | -290.72K | -1.23M | 1M | 500K | -1.7M | 300K |
| FCF Margin % | -2.48% | -5.07% | -669.48% | -29.71% | -39.28% | -40.64% | -30.3% | -23.44% | - | - | - | - | - | - | - | - | - | - | -9.57% | -19.4% | -22.46% | -7.84% | -0.1% | -1.02% | -4.6% | 4.46% | 3.76% | -16.67% | 4.84% |
| FCF Growth % | 45.06% | -21.22% | -332.55% | 88.65% | 7.4% | -249.97% | -83.25% | -238.58% | -12.51% | -8.98% | 5.81% | 41.31% | -158.27% | -1255.23% | 27.55% | -97.15% | 75.36% | 94.63% | 62.11% | 40.19% | -182.11% | -6256.82% | 92.16% | 76.31% | -222.74% | 100% | 129.41% | -666.67% | - |
| FCF per Share | -0.12 | -0.23 | -0.69 | -0.75 | -8.28 | -9.22 | -19.82 | -36.87 | -22.41 | -433.48 | -397.79 | -462.94 | -20.79 | -12.73 | -0.84 | -1.17 | -0.59 | -120.11 | -116462.82 | -336349.93 | -591637.45 | -323072.52 | -5185.56 | -290722.00 | -999999.00 | 999999.00 | 500000.00 | -999999.00 | 300000.00 |
| FCF Conversion (FCF/Net Income) | 0.31x | 0.30x | 0.18x | 0.14x | 0.42x | 0.55x | 0.15x | 0.12x | 0.76x | 0.83x | 1.11x | -0.33x | 0.16x | 0.21x | 0.70x | 0.58x | 0.22x | 0.54x | 0.37x | 0.59x | 0.44x | 0.41x | -0.22x | 176.37x | -0.13x | 1.85x | 3.00x | -1.00x | 0.50x |
| Interest Paid | 0 | 0 | 150.46K | 323.14K | 256.65K | 240.98K | 235.81K | 49.55K | 2.49K | 5.44K | 5.55K | 6.26K | 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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity and solvency
According to quarterly financial statements, NIXX consistently reports a significant divergence between net income and operating cash flow, with the OCF/NI ratio frequently fluctuating, suggesting that reported earnings are heavily influenced by non-cash items rather than actual cash generation from the company's core staffing operations.
The persistent gap between net income and operating cash flow indicates that the company's accounting earnings are not translating into liquidity. Investors should monitor this trend, as the reliance on non-cash adjustments to bridge the gap between net losses and cash burn appears to be a structural feature of the current business model.
As reported in recent SEC filings, NIXX has maintained a negative free cash flow trajectory for nine of the last ten quarters, with FCF margins remaining deeply depressed, reflecting the company's inability to generate self-sustaining cash flow despite the massive surge in top-line revenue figures.
The consistent negative FCF suggests that the company's growth strategy is currently value-destructive from a cash perspective. This trajectory warrants further investigation into whether the business can ever reach a break-even point without significant changes to its cost structure or revenue recognition model.
Based on the company's reported figures, working capital changes have been highly erratic, swinging from a $1.5M inflow in 2023Q4 to a $533.5K outflow in 2025Q3, which suggests that the firm's cash conversion cycle is highly sensitive to the timing of large, project-based staffing placements.
The volatility in working capital indicates that the company lacks a stable cash management process, likely due to the pass-through nature of its staffing revenue. This instability creates additional pressure on the company's already thin liquidity reserves, as cash inflows are not reliably synchronized with payroll obligations.
As evidenced by historical financial statements, stock-based compensation has been a recurring feature of the company's capital structure, with $2.2M in SBC recorded in 2025Q1 alone, which effectively masks the true extent of the cash burn required to retain talent in a low-margin environment.
The reliance on stock-based compensation appears to be a mechanism to preserve cash, yet it simultaneously dilutes existing shareholders without improving the underlying cash flow profile. Analysts should interpret these figures as a sign that the company is struggling to fund its operations through organic cash generation alone.
Quick answers to the most common questions about buying NIXX stock.
Nixxy, Inc. (NIXX) generated $-4.6M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Nixxy, Inc. (NIXX) reported negative free cash flow of $5.0M in 2025, indicating capital requirements exceeded cash from operations.
Nixxy, Inc. (NIXX) spent $0.4M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.