Free cash flow takeaway
A quick read on the company's cash generation and what it means for investors.
Revenue increased compared to both the prior quarter and the same quarter last year. Operating cash flow and free cash flow improved sequentially but were lower than the year-ago period, while free cash flow margin improved relative to both comparison periods.
- Cash conversion remained negative, with operating cash outflow exceeding capital spending. Free cash flow margin improved versus both prior periods, driven by a higher revenue base despite a larger operating cash outflow compared to the year-ago quarter.
- Sequentially, revenue and free cash flow improved, while capital expenditure rose. Compared to the same quarter last year, revenue was higher but free cash flow was lower, though free cash flow margin improved due to the revenue increase.
FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
-$58.0M
Trailing twelve-month free cash flow.
Quarter free cash flow
-$15.0M
Free cash flow in the selected fiscal quarter.
Operating cash flow
-$13.8M
Cash generated by operations before capital spending.
CapEx
$1.2M
Capital spending and related asset purchases.
FCF margin
-350.1%
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 |
|---|---|---|---|---|---|
| 2022-06-30 | $2.6M | -$8.6M | $4.3M | -$13.0M | -496.7% |
| 2022-09-30 | $2.8M | -$12.9M | $1.4M | -$14.2M | -514.5% |
| 2022-12-31 | $3.8M | -$14.9M | $955000 | -$15.9M | -416.8% |
| 2023-03-31 | $4.3M | -$13.8M | $1.2M | -$15.0M | -350.1% |
Cash conversion quality
Checks that separate high-quality free cash flow from accounting noise or working-capital timing.
| FCF / net income | 54.9% | Shows whether accounting earnings convert into cash. |
| CapEx / revenue | 27.7% | 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.
Revenue Growth
Revenue was higher than both the prior quarter and the same quarter last year, contributing to an improvement in free cash flow margin.
Higher revenue helped narrow the free cash flow margin despite increased operating cash outflows compared to the year-ago period.
What the cash flow says
How to interpret the company's free cash flow beyond the headline number.
Cash conversion remained negative, with operating cash outflow exceeding capital spending. Free cash flow margin improved versus both prior periods, driven by a higher revenue base despite a larger operating cash outflow compared to the year-ago quarter.
Sequentially, revenue and free cash flow improved, while capital expenditure rose. Compared to the same quarter last year, revenue was higher but free cash flow was lower, though free cash flow margin improved due to the revenue increase.
Monitor the trajectory of operating losses, as the filing indicates expectations of continued significant losses and higher operating expenses.