For the quarter ending 2026-03-31, VSEC had $1,170,049K increase in cash & cash equivalents over the period. -$68,721K in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net income (loss) | 29,055 | 13,567 | 3,912 | -5,776 |
| Depreciation and amortization | 12,747 | 10,194 | 10,190 | 19,540 |
| Amortization of debt issuance cost | 440 | 198 | 199 | 1,067 |
| Deferred taxes | 5,415 | 19,059 | -15,643 | -3,474 |
| Stock-based compensation | 4,581 | 2,927 | 3,245 | 6,663 |
| Earn-out receivable adjustment | - | - | - | 5,900 |
| Specific provision for inventory | - | 0 | - | - |
| Lease abandonment and termination costs | - | 0 | 0 | 0 |
| Impairment and loss on sale of business segments | 0 | 0 | 157 | -47,203 |
| Loss on sale of property and equipment | -3 | -35 | 0 | -10 |
| Earn-out receivable adjustments | - | 0 | 29,200 | - |
| Gain on settlement of corporate-owned life insurance | 357 | - | - | - |
| Interest income on note receivable | 694 | 699 | 1,342 | - |
| Receivables | 25,772 | 3,288 | -6,808 | 30,051 |
| Contract assets | 4,755 | 5,616 | -15 | 2,969 |
| Inventories | 71,544 | 30,348 | 1,044 | 25,478 |
| Prepaid expenses and other current assets and other assets | -515 | -4,459 | -17,153 | 26,144 |
| Operating lease assets and liabilities, net | -396 | -1,539 | -2,410 | 1,573 |
| Accounts payable and deferred compensation | -10,847 | 31,135 | -28,343 | -13,724 |
| Accrued expenses and other liabilities | -1,447 | -5,520 | 3,386 | -5,935 |
| Net cash used in operating activities | -62,264 | 37,642 | 24,089 | -34,741 |
| Purchases of property and equipment | 6,457 | 6,768 | 6,049 | 8,464 |
| Proceeds from the sale of business segments, net of cash divested | 0 | 157 | 0 | 138,816 |
| Proceeds from payments on notes receivable | - | 0 | - | - |
| Cash paid for acquisitions, net of cash acquired | 5,391 | 346,399 | 6 | 47,739 |
| Purchases of intangible assets | 16,000 | - | - | - |
| Proceeds from settlement of corporate owned life insurance | 760 | - | - | - |
| Net cash used in investing activities | -27,088 | -353,010 | -6,055 | 82,613 |
| Borrowings on bank credit facilities | 47,273 | 19,269 | 23,185 | 624,881 |
| Repayments on bank credit facilities | 49,148 | 82,760 | 46,444 | 674,381 |
| Proceeds from issuance of common stock, net | 829,457 | 441,704 | 0 | 463 |
| Proceeds from issuance of tangible equity units, net | 445,386 | - | - | - |
| Payment of debt financing costs | 1,313 | 0 | 0 | 2,584 |
| Payment of taxes for equity transactions | 8,930 | 61 | 829 | 4,248 |
| Dividends paid | 2,340 | 2,068 | 2,068 | 4,127 |
| Other | -984 | -142 | - | - |
| Net cash provided by financing activities | 1,259,401 | 375,942 | -26,156 | -59,996 |
| Net increase (decrease) in cash and cash equivalents | 1,170,049 | 60,574 | -8,122 | -12,124 |
| Cash and cash equivalents, beginning of period | 69,358 | 8,784 | 29,030 | - |
| Cash and cash equivalents, end of period | 1,239,407 | 69,358 | 8,784 | - |
VSE CORP (VSEC)
VSE CORP (VSEC)