Free cash flow remains deeply negative, with quarterly outflows ranging between $1.5 million and $2.9 million, indicating that the firm is currently burning through its limited capital reserves to sustain its commercialization efforts.
| Cash from Operations | -8.71M | -8.3M | -9.27M | -20.62M | -22.57M | -27.63M | -28.3M | -33.17M | -18.51M | -5.52M | -1.89M |
| Operating CF Margin % | - | -1012.94% | -2207.38% | -4664.93% | -161200% | -125568.18% | -10928.19% | -460.8% | -295.8% | -94.09% | -31.56% |
| Operating CF Growth % | 7.93% | 10.52% | 55.04% | 8.64% | 18.31% | 2.4% | 14.68% | -79.24% | -235.11% | -192.84% | - |
| Net Income | -14.82M | -17.18M | -16.64M | -70.57M | -26.86M | -25.07M | -36.05M | -56.96M | -30.83M | -17.77M | -4.2M |
| Depreciation & Amortization | 2.09M | 2.12M | 2.11M | 2.08M | 421K | 1.56M | 2.37M | 1.75M | 624K | 218K | 95K |
| Stock-Based Compensation | 177K | 338K | 54K | 1.22M | 447K | 2.24M | 4.08M | 23.54M | 14.73M | 12.71M | 2.3M |
| Deferred Taxes | -1.26M | -1.81M | 3.14M | 0 | 0 | 0 | 0 | 0 | 0 | 53K | 12K |
| Other Non-Cash Items | 5.32M | 6.61M | 2.24M | 53.73M | 2.88M | -6M | 279K | 406K | 255K | 153K | 54K |
| Working Capital Changes | 207K | 1.64M | -171K | -7.07M | 547K | -358K | 1.01M | -1.92M | -3.28M | -835K | -133K |
| Change in Receivables | -174K | -85K | 67K | -66K | 0 | 42K | 368K | 251K | -1.06M | -124K | -161K |
| Change in Inventory | -16K | -78K | -8K | 8K | -14K | -197K | 352K | -2.19M | -3.87M | -644K | -181K |
| Change in Payables | 232K | 1.16M | -234K | -550K | -879K | 627K | -961K | 407K | 699K | -47K | 124K |
| Cash from Investing | -1.14M | 167K | -67K | -61K | 21K | 3.8M | 15.93M | -16.03M | -582K | -547K | -210K |
| Capital Expenditures | -144K | -17K | -67K | -76K | -17K | -265K | -67K | -268K | -582K | -547K | -210K |
| CapEx % of Revenue | 13% | 2.08% | 15.95% | 17.19% | 121.43% | 1204.55% | 25.87% | 3.72% | 9.3% | 9.32% | 3.51% |
| Acquisitions | -1.21M | 0 | 0 | 15K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -88K | -116K | 0 | 0 | 38K | 4.07M | 0 | 0 | 0 | 0 | 0 |
| Cash from Financing | 9.84M | 5.34M | 8.65M | 8.39M | 23.36M | 14.96M | 21.69M | -526K | 75.17M | 10.39M | 5.37M |
| Debt Issued (Net) | 785K | 423K | 1.49M | -357K | 0 | -265K | 1.71M | -338K | -82K | -44K | 108K |
| Equity Issued (Net) | 6.31M | 4.92M | 5.97M | 8.24M | 18.91M | 15.53M | 19.89M | 37K | 78.81M | 10.43M | 5.26M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 2.74M | 0 | 1.19M | 505K | 4.46M | -301K | 99K | -225K | -3.56M | 0 | 0 |
| Net Change in Cash | -9K | -2.79M | -692K | -12.29M | 814K | -8.86M | 9.32M | -49.73M | 56.08M | 4.32M | 3.28M |
| Free Cash Flow | -8.81M | -8.31M | -9.34M | -20.7M | -22.59M | -27.89M | -28.37M | -33.44M | -19.09M | -6.07M | -2.1M |
| FCF Margin % | -794.77% | -1015.02% | -2223.33% | -4682.13% | -161321.43% | -126772.73% | -10954.05% | -464.52% | -305.1% | -103.41% | -35.07% |
| FCF Growth % | 6.55% | 10.98% | 54.88% | 8.37% | 19.02% | 1.7% | 15.16% | -75.18% | -214.5% | -189.6% | - |
| FCF per Share | -0.00 | -0.01 | -2.86 | -3.77 | -21.84 | -276.14 | -834.93 | -3180.01 | -2585.32 | -626.87 | -216.46 |
| FCF Conversion (FCF/Net Income) | 0.59x | 0.48x | 0.56x | 0.29x | 0.84x | 1.10x | 0.79x | 0.58x | 0.60x | 0.31x | 0.45x |
| Interest Paid | 2K | 0 | 31K | 204K | 0 | 2K | 28K | 49K | 11K | 4K | 3K |
| Taxes Paid | 0 | 0 | 0 | 0 | 3K | 2K | 0 | 30K | 5K | 1K | 1K |
Imminent liquidity exhaustion
According to the company's reported financial statements, VTAK consistently reports net losses that significantly exceed operating cash outflows, with the OCF/NI ratio fluctuating wildly between 0.28 and 2.82, suggesting that accrual-based accounting metrics provide little insight into the firm's actual cash-burning operational reality.
The wide variance in the relationship between net income and operating cash flow indicates that non-cash charges and working capital swings are masking the underlying cash burn. Investors should monitor this divergence as it suggests that the company's reported losses may not fully capture the immediate liquidity pressure facing the business.
As reported in recent SEC filings, VTAK's free cash flow trajectory remains deeply negative, with quarterly outflows consistently ranging between $1.5 million and $2.9 million, highlighting a structural inability to generate self-sustaining cash flow during this early-stage commercialization phase of its electrophysiology product portfolio.
The persistent negative FCF margins, which have reached as low as -25.7%, underscore the heavy reliance on external financing to fund ongoing operations. This trend appears to confirm that the company is currently in a high-burn phase where capital expenditure is secondary to the massive operating losses required to maintain market presence.
Based on the provided quarterly data, VTAK exhibits erratic working capital movements, with fluctuations ranging from a $909,000 outflow to an $805,000 inflow, suggesting that the company's cash management is highly sensitive to the timing of inventory procurement and the settlement of short-term liabilities.
These swings in working capital appear to be a byproduct of the company's nascent commercial stage rather than a deliberate strategy. The lack of a stable pattern in these movements warrants further investigation into whether the company is effectively managing its payables or if it is simply reacting to liquidity constraints.
As indicated by the company's reported figures, VTAK has directed its limited capital resources toward acquisitions and essential operating expenses rather than shareholder returns, with no dividends or buybacks recorded, reflecting a business model entirely focused on survival and the pursuit of market share.
The deployment of cash toward a $1.2 million acquisition in 2026Q1, despite a precarious cash balance, suggests a management priority on inorganic growth. This strategy appears high-risk given the company's limited liquidity and the ongoing need to fund core R&D and sales efforts.
Based on the reported financial statements, the cash flow statement obscures the severity of the company's liquidity position by failing to highlight the impact of the recent merger-related restructuring on the firm's ability to sustain its current high-burn operating model without immediate external capital injections.
The reliance on non-cash adjustments, such as depreciation and amortization, to reconcile net income to operating cash flow may lead investors to underestimate the urgency of the company's funding needs. The reported cash balance of $88,000 suggests that the cash flow statement is currently a secondary concern to the existential risk of capital exhaustion.
Quick answers to the most common questions about buying VTAK stock.
Catheter Precision, Inc. (VTAK) generated $-8.3M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Catheter Precision, Inc. (VTAK) reported negative free cash flow of $8.3M in 2025, indicating capital requirements exceeded cash from operations.
Catheter Precision, Inc. (VTAK) spent $0.0M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.