Operating cash flow remains deeply negative at $1.9 million for 2026Q1, leaving the company with a precarious cash balance of only $580.6K.
| Cash from Operations | -2.82M | -1.95M | -1.32M | -238.11K | -63.2M | -1.26M | -11.23M | -11.18M |
| Operating CF Growth % | -561.53% | -47.67% | -455.44% | 99.62% | -4919.41% | 88.79% | -0.44% | - |
| Operating CF / Revenue % | -26853.14% | - | - | - | - | - | - | - |
| Net Income | -9.47M | -9.09M | -4.53M | -437.01K | -75.72M | 4.39M | -21.08M | -10.9M |
| Depreciation & Amortization | 11.68K | 11.68K | 11.68K | 12.65K | 80K | 0 | 52K | 28K |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 4.36M | 4.2M | 321.45K | 11.27K | -1.34M | -4.92M | 7.33M | 283K |
| Working Capital Changes | 388.91K | 1.29M | 43.52K | 171.14K | 8.93M | -725.96K | 1.61M | -827K |
| Capital Expenditures | 129.9K | -987.8K | -45.83K | -264.15K | 47.19M | -150M | -5.19M | -144K |
| CapEx / Revenue % | 1237.17% | - | - | - | - | - | - | - |
| CapEx / D&A | 11.13x | 84.61x | 3.93x | 20.89x | 589.93x | - | 0.46x | 5.14x |
| CapEx Coverage (OCF/CapEx) | -21.71x | -1.98x | -28.86x | -0.90x | -1.34x | -0.01x | -467.96x | -77.65x |
| Cash from Investing | -857.9K | -987.8K | -45.83K | -264.15K | 47.19M | -150M | -5.19M | -144K |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Purchase of Investments | 0 | 0 | 0 | 0 | -76.2M | 0 | 0 | 0 |
| Sale of Investments | 0 | 0 | 0 | 0 | 123.4M | 0 | 0 | 0 |
| Other Investing | -987.8K | 0 | 0 | 0 | 0 | -150M | -5.17M | 0 |
| Cash from Financing | 3.98M | 3.12M | 1.36M | 439.61K | 53.18M | 152.06M | 69.49M | 2.5M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Payout Ratio % | - | - | - | - | - | - | - | - |
| Debt Issuance (Net) | 1.6M | 1000K | 0 | 446.91K | 0 | 0 | 0 | 0 |
| Stock Issued | 0 | 0 | 1.56M | 2K | 0 | 152.59M | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 2.47M | 650K | -201.34K | -17.3K | 53.18M | -526.46K | 69.49M | 2.5M |
| Net Change in Cash | 307.52K | 181.08K | -4.74K | -62.66K | 37.17M | 801.95K | 53.07M | -8.83M |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 213.69K | 32.6K | 37.34K | 100K | 24.78M | 0 | 5.79M | 14.62M |
| Cash at End | 580.64K | 213.69K | 32.6K | 37.34K | 61.95M | 801.95K | 58.86M | 5.79M |
| Free Cash Flow | -2.69M | -2.94M | -1.37M | -502.27K | -16M | -151.26M | -16.42M | -11.33M |
| FCF Growth % | -10.6% | -114.91% | -172.45% | 96.86% | 89.42% | -821.08% | -44.99% | - |
| FCF Margin % | -25616.01% | - | - | - | - | - | - | - |
| FCF / Net Income % | 28.4% | 32.35% | 30.18% | 114.93% | 21.14% | -3448.04% | 85.55% | 106.02% |
Imminent insolvency and dilution
As reported in recent financial statements, RAIN generated a negative operating cash flow of $1.9 million in 2026Q1, highlighting a complete lack of the predictable, regulated cash streams that typically define utility-sector entities and provide coverage for fixed operational obligations.
The company's inability to generate positive operating cash flow suggests that its ionization technology has yet to achieve the commercial scale required for utility-grade revenue recognition. Without a regulatory framework to guarantee cost recovery, the current cash burn appears to be entirely discretionary and unsupported by underlying service contracts.
Based on historical filings, RAIN's capital expenditure patterns remain erratic, with a $9.5K outflow in 2026Q1 following a period of asset liquidation, suggesting that investment in ionization infrastructure is not currently driving the rate base growth expected from a regulated utility provider.
The lack of consistent, growth-oriented CAPEX indicates that the company is struggling to transition from a research-heavy pilot phase to a deployable infrastructure model. Investors should monitor whether future capital outlays are directed toward revenue-generating assets or merely sustaining the existing, unproven ionization delivery system.
According to the latest quarterly data, the company's cash balance has dwindled to $213,688, which implies that RAIN's access to debt or equity capital markets is likely exhausted, leaving shareholders exposed to the high probability of dilutive financing to maintain basic operations.
The absence of long-term debt issuance in recent periods suggests that traditional credit markets may view the company's business model as too speculative for debt financing. Consequently, the company appears to be trapped in a cycle of reliance on equity markets, which may prove increasingly difficult to access given the lack of commercial milestones.
Financial disclosures indicate that RAIN's cash flow statement masks significant risks, as the company has failed to secure long-term service contracts, leaving it vulnerable to the high costs of maintaining ionization towers without any offsetting regulatory recovery or performance-based revenue streams.
The company's cash flow profile suggests that it is currently operating as a venture-stage entity rather than a utility, with significant potential for future litigation costs related to downwind moisture claims. These unfunded liabilities may further strain the company's already precarious liquidity position as it attempts to prove the efficacy of its atmospheric modification technology.
Quick answers to the most common questions about buying RAIN stock.
Rain Enhancement Technologies Holdco Inc (RAIN) generated $-2.0M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Rain Enhancement Technologies Holdco Inc (RAIN) reported negative free cash flow of $2.9M in 2025, indicating capital requirements exceeded cash from operations.
Rain Enhancement Technologies Holdco Inc (RAIN) spent $1.0M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.