Cash flow generation is negative, with operating cash flow of -$38.9B in 2026Q2 and cumulative net income of -$48.6M over ten quarters, while inventory purchases of $52.5B against sales of $20.1B in 2026Q2 highlight significant cash outflows and no capital return to shareholders.
Unusual Machines, Inc. (UMAC) cash flow statement — 5-year operating, investing & financing cash flows
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 |
|---|
| Cash from Operations | -83.34M | -21.18M | -4M | -1.78M | -1.19M | -162.82K |
| Operating CF Growth % | -3089.48% | -429.92% | -124.95% | -49.39% | -630.37% | - |
| Net Income | -33.11M | -19.19M | -31.98M | -2.38M | -1.17M | -161.88K |
| Depreciation & Amortization | 468.35K | 141.27K | 72.16K | 5.6K | 885 | 0 |
| Deferred Taxes | -36.25K | -36.25K | -13.36K | 0 | 0 | 0 |
| Other Non-Cash Items | -64.71M | -4.08M | 24.94M | 0 | 0 | 0 |
| Working Capital Changes | -7.12M | -13.63M | 667.44K | 1.31K | -18.3K | -945 |
| Cash from Investing | -93.54M | -37.09M | -852.8K | -3.16K | 40.65K | 0 |
| Purchase of Investments | -110.05M | 0 | 0 | 0 | 0 | 0 |
| Sale/Maturity of Investments | 21.89M | 1.8M | 0 | 0 | 0 | 0 |
| Net Investment Activity | -88.16M | 1.8M | 0 | 0 | 0 | 0 |
| Acquisitions | 0 | 93.05K | -852.8K | 0 | 0 | 0 |
| Other Investing | 1.62M | -36.93M | 0 | 0 | 45.22K | 0 |
| Cash from Financing | 274.54M | 157.77M | 7.71M | -424.93K | 462.07K | 3.95M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Issued | -90.94M | 157.77M | 7.05M | 0 | 549.9K | 3.95M |
| Net Stock Activity | -90.94M | 157.77M | 7.05M | 0 | 549.9K | 3.95M |
| Debt Issuance (Net) | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 162.69M | 0 | 664.61K | -424.93K | -87.83K | 0 |
| Net Change in Cash | 97.68M | 99.5M | 2.86M | -2.2M | -686.47K | 3.79M |
| Exchange Rate Effect | 24.35K | 3.47K | 0 | 0 | 0 | 647 |
| Cash at Beginning | 229.6M | 3.76M | 894.77K | 3.1M | 3.79M | 647 |
| Cash at End | 161.97M | 103.26M | 3.76M | 894.77K | 3.1M | 3.79M |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Income Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | -90.33M | -23.24M | -4M | -1.78M | -1.19M | -162.82K |
| FCF Growth % | -535.11% | -481.52% | -124.55% | -49.08% | -633.18% | - |
Quick answers to the most common questions about buying UMAC stock.
Unusual Machines, Inc. (UMAC) generated $-21.2M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Unusual Machines, Inc. (UMAC) reported negative free cash flow of $23.2M in 2025, indicating capital requirements exceeded cash from operations.
Unusual Machines, Inc. (UMAC) spent $2.1M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
Key Metrics
Top Statement Risk
Dependence on non-interest income
Metrics are mathematically derived from official filings.
Negative Earnings Retention
According to quarterly filings, UMAC's cumulative net income over the last ten quarters is approximately -$48.6M, indicating negative capital generation and reliance on external funding.
The company has not generated positive retained earnings in any quarter except 2026Q1 and 2025Q3, with net income of $10.3M and $1.6M respectively. This pattern suggests that internal capital generation is insufficient to support growth, and the company may need to raise additional equity or debt to fund operations. The negative earnings retention is a concern for long-term solvency.
Inventory Purchases Outpace Sales
In 2026Q2, UMAC reported inventory purchases of $52.5B against sales of $20.1B, resulting in a net cash outflow of $32.4B, as per financial statements.
The significant investment in inventory, particularly in the most recent quarter, suggests a strategic build-up of stock, possibly in anticipation of future demand. However, the cash outflow from inventory purchases is not matched by corresponding sales, leading to a substantial drain on cash reserves. This trend may indicate aggressive expansion or potential overstocking, which could strain liquidity if sales do not materialize.
No Loan Activity Reported
Based on reported figures, UMAC has not engaged in any loan origination or deposit-taking activities, as indicated by zero values for loan loss provisions and no loan-related cash flows.
The absence of loan flows suggests that UMAC is not operating as a traditional bank, despite being classified as a depository institution. This may indicate that the company's business model is more focused on consumer electronics, with banking activities being nominal or non-existent. Investors should monitor whether this classification aligns with actual operations.
No Capital Return to Shareholders
UMAC has not paid dividends or repurchased shares in any of the last ten quarters, as reported in cash flow statements, indicating a zero capital return policy.
The lack of dividends or buybacks is consistent with a company in a growth phase that is reinvesting all available cash into operations and inventory. However, given the negative cash flows from operations, the absence of capital return is not surprising. The company's ability to return capital in the future will depend on achieving sustainable profitability.
No Deposit Activity
UMAC's cash flow statements show no deposit inflows or outflows across all reported quarters, suggesting that the company does not rely on customer deposits for funding.
The absence of deposit flows indicates that UMAC is not funding its operations through traditional bank deposits. This may imply that the company is using other sources of funding, such as equity or debt, which are not visible in the provided data. The lack of deposit activity could be a red flag for a bank, but given the company's technology focus, it may be operating as a non-bank entity.
Cash Flow Statement Limitations
The cash flow statement may not fully capture UMAC's financial position, as significant items like inventory purchases and sales are not typical for a bank, according to SEC filings.
For a company classified as a bank, the cash flow statement is less informative than for industrial firms. UMAC's large inventory transactions suggest that its business is more akin to a consumer electronics company, which may not be adequately reflected in bank-specific metrics. Additionally, the absence of loan and deposit flows raises questions about the accuracy of the bank classification. Investors should consider the underlying business model when interpreting these cash flows.