Free cash flow takeaway
A quick read on the company's cash generation and what it means for investors.
Revenue was slightly lower than the prior quarter but higher than the same quarter last year. Operating cash flow turned negative, leading to negative free cash flow, though the margin improved compared to the prior year's same quarter.
- Operating cash flow was negative, and capital expenditure remained modest, resulting in free cash flow that was also negative. The free cash flow margin was negative, reflecting the operating cash outflow.
- Compared to the immediately preceding quarter, operating cash flow shifted from positive to negative, and free cash flow margin weakened significantly. Compared to the same quarter one year earlier, operating cash flow, free cash flow, and margin all improved, as the prior year had a larger negative cash flow.
FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
-$22.2M
Trailing twelve-month free cash flow.
Quarter free cash flow
-$71.3M
Free cash flow in the selected fiscal quarter.
Operating cash flow
-$67.6M
Cash generated by operations before capital spending.
CapEx
$3.7M
Capital spending and related asset purchases.
FCF margin
-26.0%
The share of revenue converted into free cash flow.
Cash flow trend
A short quarterly history shows whether FCF is scaling with revenue or only spiking for one period.
| Period | Revenue | Operating CF | CapEx | FCF | FCF margin |
|---|---|---|---|---|---|
| 2024-10-26 | $559.7M | $47.4M | $3.1M | $44.4M | 7.9% |
| 2025-01-25 | $419.7M | -$41.9M | $2.8M | -$44.7M | -10.7% |
| 2025-05-03 | $281.8M | $52.6M | $3.1M | $49.5M | 17.6% |
| 2025-08-02 | $274.2M | -$67.6M | $3.7M | -$71.3M | -26.0% |
Cash conversion quality
Checks that separate high-quality free cash flow from accounting noise or working-capital timing.
| FCF / net income | 390.4% | Shows whether accounting earnings convert into cash. |
| CapEx / revenue | 1.4% | Lower capital intensity usually supports FCF margin. |
| Net cash | -$162.7M | Cash and equivalents minus total debt. |
Recent events shaping cash flow
Near-term business events that help explain the free cash flow result.
Operating Cash Flow Turn
The swing from positive to negative operating cash flow is the primary source of the negative free cash flow this quarter. The prior quarter had robust operating cash generation.
If operating cash flow does not recover, free cash flow will remain pressured.
What the cash flow says
How to interpret the company's free cash flow beyond the headline number.
Operating cash flow was negative, and capital expenditure remained modest, resulting in free cash flow that was also negative. The free cash flow margin was negative, reflecting the operating cash outflow.
Compared to the immediately preceding quarter, operating cash flow shifted from positive to negative, and free cash flow margin weakened significantly. Compared to the same quarter one year earlier, operating cash flow, free cash flow, and margin all improved, as the prior year had a larger negative cash flow.
Monitor whether operating cash flow can return to positive levels in the upcoming quarter.