Operational efficiency remains poor, as evidenced by a 2026Q1 OCF/NI ratio of -0.72, indicating a persistent inability to convert accounting profits into actual liquidity.
| 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 | 1.4M | 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 | -77.3K | 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 | 2.34M | 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 | 109.75K | 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 | 0 | 0 | 0 | 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 | -14.96K | -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% | 0% | 0.35% | 0% | 0.59% | 0.25% | - | - | - | - | - | - | - | - | - | - | 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 | 27K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 87.17K | -1.65M | 307.7K | 25.68K | 284.44K | -1.15M | 0 | 0 | -192K | -1.33M | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | -275.49K | 0 | 0 | 15.5K | -9.04K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -10K | 84.81K | 142.44K | 4.37K | 187.16K | 555.11K | -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 | 402.8K | 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 | -80K | 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 | -45K | -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 | -0.24 | -0.69 | -0.16 | -1.41 | -1.53 | -0.44 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| 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
As reported in recent financial statements, NIXXW's operating cash flow consistently trails net income, with the 2026Q1 OCF/NI ratio of -0.72 highlighting a persistent inability to convert accounting profits into actual liquidity, suggesting that reported earnings are heavily influenced by non-cash items rather than operational success.
The persistent divergence between net income and operating cash flow indicates that the company's accounting earnings do not reflect its underlying cash-generating capacity. Investors should monitor this gap closely, as it suggests that the business model relies on accruals that may never materialize into tangible cash inflows.
Based on the provided quarterly data, NIXXW has failed to generate positive free cash flow in nine of the last ten quarters, with the 2025Q1 FCF margin plummeting to -160.3%, underscoring a structural inability to fund operations through internal cash generation rather than external financing.
The consistent negative FCF trajectory suggests that the company's rapid revenue expansion is not creating value for shareholders. This trend implies that the firm is effectively subsidizing its growth through cash burn, which is unsustainable given the current liquidity constraints.
According to historical cash flow filings, working capital changes have been highly erratic, swinging from a $478,200 inflow in 2025Q1 to a $399,500 outflow in 2024Q4, which indicates that the company's cash position is highly sensitive to the timing of receivables and payables management.
The volatility in working capital suggests that the company lacks a stable cash conversion cycle, which is particularly dangerous given the razor-thin gross margins. This instability may force management to rely on short-term financing to cover payroll obligations, increasing the risk of a liquidity crisis.
As disclosed in recent SEC filings, NIXXW has utilized significant stock-based compensation, including a $2.2M charge in 2025Q1, which effectively masks the true extent of the company's cash burn by inflating non-cash expenses that do not impact the immediate liquidity position of the firm.
The reliance on stock-based compensation as a primary adjustment to cash flow suggests that management is attempting to preserve cash by diluting shareholders. This practice warrants further investigation, as it may be masking the true cost of talent acquisition in a highly competitive and low-margin staffing environment.
Quick answers to the most common questions about buying NIXXW stock.
Nixxy, Inc. (NIXXW) generated $-4.6M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Nixxy, Inc. (NIXXW) reported negative free cash flow of $5.0M in 2025, indicating capital requirements exceeded cash from operations.
Nixxy, Inc. (NIXXW) 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.