Operational cash flow remains highly volatile, evidenced by a negative 110.7% free cash flow margin in 2026Q1, reflecting the inherent lumpiness of the company's capital equipment sales.
| Cash from Operations | -548K | 528K | -831K | -2.15M | -1.41M | -286K | -434.18K | -2.11M | -8.56M | -3.06M | -851.02K | -1.34M | -1.87M |
| Operating CF Margin % | - | 1.92% | -1.99% | -8.79% | -3.17% | -1.06% | -4.53% | -7.73% | -32.41% | -14.85% | -5.75% | -13.04% | -32.14% |
| Operating CF Growth % | -275.32% | 163.54% | 61.26% | -51.91% | -393.71% | 34.13% | 79.39% | 75.4% | -180.17% | -259.17% | 36.46% | 28.29% | - |
| Net Income | -7.77M | -7.72M | 6.65M | 485K | 24.24M | 4.12M | -6.84M | -1.7M | -2.02M | -3.71M | -346.45K | -237.27K | -3.7M |
| Depreciation & Amortization | 352K | 0 | 432K | 461K | 509K | 613K | 721.87K | 545.72K | 658.25K | 387.92K | 337.58K | 315.6K | 272.65K |
| Stock-Based Compensation | 143K | 295K | 323K | 328K | 187K | 415K | 0 | 620.92K | 982.62K | 405.9K | 726.38K | 6.48K | 6.48K |
| Deferred Taxes | -723K | 0 | -57K | -427K | -1.71M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | -2.81M | -709K | 378K | 568K | -11.71M | 705K | 118.21K | 728.91K | 108.53K | 428.95K | 3.03M | 34.5K | 167.96K |
| Working Capital Changes | 9.32M | 8.66M | -8.55M | -3.56M | -12.92M | -6.14M | 5.56M | -2.3M | -8.29M | -568.86K | -4.6M | -1.46M | 1.38M |
| Change in Receivables | 14.4M | 13.65M | -9.21M | 6.65M | -5.31M | -8.43M | 10.25M | -1.22M | -8.17M | -2.05M | -1.03M | -1.66M | 2.12M |
| Change in Inventory | -6.42M | -4.63M | 268K | -8.58M | -3.19M | 2.73M | -1.43M | -1.7M | -661.42K | 118.92K | -3.32M | -288.39K | -327.35K |
| Change in Payables | -943K | -1.47M | 2.02M | -2.73M | 799K | 962K | -2.3M | -676.56K | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | -192K | -196K | -276K | -187K | 14.84M | 129K | 7.03M | -4.9M | -2.64M | 6.17M | -7.85M | -196.19K | -123.96K |
| Capital Expenditures | -75K | -196K | -276K | -229K | -159K | -128K | -358.55K | -400.59K | -854.83K | -287.59K | -286K | -196.19K | -123.96K |
| CapEx % of Revenue | 0.33% | 0.71% | 0.66% | 0.94% | 0.36% | 0.47% | 3.74% | 1.47% | 3.23% | 1.4% | 1.93% | 1.91% | 2.13% |
| Acquisitions | 0 | 0 | 0 | 0 | 15M | 257K | 0 | 0 | 2.64B | 0 | 7.85M | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -117K | 0 | 0 | 42K | 0 | 0 | 0 | 0 | -2.64B | 6.46M | -7.85M | 0 | 0 |
| Cash from Financing | -5K | -305K | 15K | -40K | -2.43M | -231K | 210.01K | 2.62M | 13.6M | 1.93M | 8.68M | 2.06M | -45.42K |
| Debt Issued (Net) | 0 | 0 | 0 | 0 | -51K | -216K | 266.78K | 0 | -2.21M | 2.21M | -422.7K | 47.7K | 0 |
| Equity Issued (Net) | 0 | -300K | 67K | -27K | -3M | -15K | 560 | 2.74M | 17.25M | 0 | 12.65M | 2.2M | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -2.55M | 0 | -45.42K |
| Share Repurchases | 0 | -300K | 0 | -27K | -3M | -15K | 0 | 0 | 0 | -289.29K | 0 | 0 | 0 |
| Other Financing | -5K | -5K | -52K | -13K | 622K | 0 | -57.33K | -118.75K | -1.43M | -289.29K | -994.02K | -185.81K | 0 |
| Net Change in Cash | -745K | 27K | -1.09M | -2.37M | 11M | -388K | 6.81M | -4.38M | 2.4M | 5.04M | -22.59K | 526.36K | -2.04M |
| Free Cash Flow | -623K | 332K | -1.11M | -2.37M | -1.57M | -414K | -792.72K | -2.51M | -9.42M | -3.34M | -1.14M | -1.54M | -1.99M |
| FCF Margin % | -2.77% | 1.21% | -2.65% | -9.73% | -3.53% | -1.53% | -8.28% | -9.2% | -35.64% | -16.24% | -7.68% | -14.95% | -34.28% |
| FCF Growth % | -113.46% | 129.99% | 53.37% | -51.11% | -279.47% | 47.77% | 68.38% | 73.38% | -181.64% | -194.12% | 25.95% | 22.9% | - |
| FCF per Share | -0.04 | 0.02 | -0.07 | -0.15 | -0.09 | -0.03 | -0.05 | -0.15 | -0.67 | -0.25 | -0.09 | -0.14 | -0.20 |
| FCF Conversion (FCF/Net Income) | 0.08x | -0.07x | -0.13x | -4.42x | -0.06x | -0.07x | 0.06x | 1.24x | 4.23x | 0.82x | 2.46x | 5.64x | 0.50x |
| Interest Paid | 0 | 0 | 0 | 0 | 2K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 980K | 0 | 2.58M | 1.44M | 4.57M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Reimbursement and sales volatility
According to recent financial disclosures, the relationship between net income and operating cash flow for SRTS remains highly volatile, with the OCF/NI ratio fluctuating wildly between 1.43 and -3.60, suggesting that reported earnings are currently disconnected from the company's actual ability to generate liquid cash.
The frequent divergence between net income and operating cash flow indicates that accrual-based accounting adjustments are significantly masking the underlying cash burn. Investors should monitor whether this volatility stems from aggressive revenue recognition timing or erratic changes in accounts receivable, as the lack of consistent cash conversion complicates the assessment of true operational health.
As reported in quarterly statements, Sensus Healthcare's free cash flow trajectory has been erratic, swinging from a positive 42.2% margin in 2025Q2 to a negative 110.7% margin in 2026Q1, which highlights the extreme sensitivity of the company's cash generation to its lumpy capital equipment sales cycle.
The inability to maintain positive free cash flow during periods of revenue contraction suggests that the company's fixed cost structure is not sufficiently flexible to adapt to lower demand. This trend warrants further investigation into whether the current cash burn is a temporary byproduct of strategic investment or a structural failure to achieve break-even scale.
Based on the company's reported cash flow statements, working capital changes have been the primary driver of quarterly cash flow volatility, with swings as large as $11.6M in 2024Q1, indicating that the company's cash position is highly dependent on the timing of customer payments and inventory management.
The significant reliance on working capital fluctuations to bridge the gap between operating losses and cash availability suggests that the company's core business is not yet self-sustaining. Analysts should scrutinize whether these working capital movements represent genuine operational efficiency or merely the deferral of cash outflows that may eventually pressure the balance sheet.
As noted in recent filings, Sensus Healthcare has maintained a conservative capital deployment strategy, avoiding significant debt or aggressive buybacks, with the exception of a $300K share repurchase in 2025Q1, which appears to be a minor effort to support equity value amidst declining operational performance.
The company's decision to preserve its cash cushion rather than aggressively reinvesting in growth or returning capital to shareholders suggests a management team focused on survival in a challenging reimbursement environment. This defensive stance may be prudent, but it also raises questions about the company's long-term strategy for reigniting growth in its core dermatology business.
Quick answers to the most common questions about buying SRTS stock.
Sensus Healthcare, Inc. (SRTS) generated $0.5M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Sensus Healthcare, Inc. (SRTS) generated $0.3M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
Sensus Healthcare, Inc. (SRTS) spent $0.2M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, Sensus Healthcare, Inc. (SRTS) spent $0.3M on share repurchases. This shows the company's commitment to returning capital to its equity investors.