Free cash flow takeaway
A quick read on the company's cash generation and what it means for investors.
Operating cash flow and free cash flow were lower sequentially but higher than a year earlier. The free cash flow margin weakened from the prior quarter yet remained stable versus the same quarter last year.
- Revenue was higher than both the prior quarter and the year-ago quarter. Operating cash flow improved year over year but fell sequentially, while capital expenditure was lower in both comparisons, leading to free cash flow that was lower than the immediately preceding quarter yet higher than the same quarter one year earlier.
- Compared with the prior quarter, operating cash flow and free cash flow decreased, and the free cash flow margin weakened. Compared with the same quarter last year, operating cash flow and free cash flow increased while the free cash flow margin remained stable.
FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$2.8B
Trailing twelve-month free cash flow.
Quarter free cash flow
$601.0M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$641.0M
Cash generated by operations before capital spending.
CapEx
$40.0M
Capital spending and related asset purchases.
FCF margin
1202.0%
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 |
|---|---|---|---|---|---|
| 2024-06-30 | $43.0M | $768.0M | $39.0M | $729.0M | 1695.3% |
| 2024-09-30 | $54.0M | $699.0M | $38.0M | $661.0M | 1224.1% |
| 2024-12-31 | $49.0M | $877.0M | $52.0M | $825.0M | 1683.7% |
| 2025-03-31 | $50.0M | $641.0M | $40.0M | $601.0M | 1202.0% |
Cash conversion quality
Checks that separate high-quality free cash flow from accounting noise or working-capital timing.
| FCF / net income | -129.5% | Shows whether accounting earnings convert into cash. |
| CapEx / revenue | 80.0% | Lower capital intensity usually supports FCF margin. |
| Net cash | n/a | Cash and equivalents minus total debt. |
Recent events shaping cash flow
Near-term business events that help explain the free cash flow result.
Year-over-year cash flow growth
Operating cash flow and free cash flow both improved year over year, driven by higher revenue and lower capital expenditure compared with the prior-year quarter.
Free cash flow was higher than the year-ago level despite the sequential dip.
What the cash flow says
How to interpret the company's free cash flow beyond the headline number.
Revenue was higher than both the prior quarter and the year-ago quarter. Operating cash flow improved year over year but fell sequentially, while capital expenditure was lower in both comparisons, leading to free cash flow that was lower than the immediately preceding quarter yet higher than the same quarter one year earlier.
Compared with the prior quarter, operating cash flow and free cash flow decreased, and the free cash flow margin weakened. Compared with the same quarter last year, operating cash flow and free cash flow increased while the free cash flow margin remained stable.
Monitor whether operating cash flow can sustain its year-over-year improvement given the sequential decline.