Free cash flow takeaway
A quick read on the company's cash generation and what it means for investors.
Revenue increased both sequentially and year-over-year. Free cash flow and its margin improved compared to the same quarter last year but weakened from the prior quarter.
- Revenue grew while operating cash flow decreased from the previous quarter, though it was higher than a year ago. Capital expenditure declined in both comparisons, resulting in free cash flow that was lower than the prior quarter but higher than the year-ago period.
- Compared to the prior quarter, revenue was higher, but operating cash flow, free cash flow, and free cash flow margin were lower. Compared to the same quarter last year, all metrics were higher.
FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$130.8M
Trailing twelve-month free cash flow.
Quarter free cash flow
$31.6M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$39.1M
Cash generated by operations before capital spending.
CapEx
$7.5M
Capital spending and related asset purchases.
FCF margin
16.4%
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 |
|---|---|---|---|---|---|
| 2024-09-30 | $168.6M | $31.6M | $9.6M | $22.0M | 13.0% |
| 2024-12-31 | $161.7M | $42.6M | $6.7M | $35.9M | 22.2% |
| 2025-03-31 | $183.1M | $50.7M | $9.4M | $41.3M | 22.6% |
| 2025-06-30 | $192.5M | $39.1M | $7.5M | $31.6M | 16.4% |
Cash conversion quality
Checks that separate high-quality free cash flow from accounting noise or working-capital timing.
| FCF / net income | -11883.1% | Shows whether accounting earnings convert into cash. |
| CapEx / revenue | 3.9% | 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.
Operating Cash Flow Decline
Operating cash flow decreased from the prior quarter, which was the primary factor reducing free cash flow despite higher revenue and lower capital expenditure.
This led to a lower free cash flow margin compared to the prior quarter.
What the cash flow says
How to interpret the company's free cash flow beyond the headline number.
Revenue grew while operating cash flow decreased from the previous quarter, though it was higher than a year ago. Capital expenditure declined in both comparisons, resulting in free cash flow that was lower than the prior quarter but higher than the year-ago period.
Compared to the prior quarter, revenue was higher, but operating cash flow, free cash flow, and free cash flow margin were lower. Compared to the same quarter last year, all metrics were higher.
Monitor the trend in operating cash flow, given the sequential decline and the company's reliance on operating cash flows for liquidity as noted in the filing.