Free cash flow takeaway
A quick read on the company's cash generation and what it means for investors.
Operating cash flow was negative, leading to negative free cash flow and a negative margin. The cash conversion weakened compared to both the prior quarter and the same quarter last year.
- Revenue was lower than a year ago but slightly higher than the prior quarter. Operating cash flow was negative, driven by cash outflows that exceeded revenue, resulting in negative free cash flow and a deeply negative free cash flow margin.
- Compared to the prior quarter, operating cash flow improved but remained negative, and free cash flow also improved while staying negative. Versus the same quarter a year ago, both operating cash flow and free cash flow shifted from positive to negative, indicating a weakened cash conversion.
FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
-$56.0M
Trailing twelve-month free cash flow.
Quarter free cash flow
-$17.6M
Free cash flow in the selected fiscal quarter.
Operating cash flow
-$17.3M
Cash generated by operations before capital spending.
CapEx
$284000
Capital spending and related asset purchases.
FCF margin
-14.6%
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 |
|---|---|---|---|---|---|
| 2024-03-31 | $115.2M | $28.6M | $1.5M | $27.0M | 23.5% |
| 2024-06-30 | $111.4M | -$23.3M | $723000 | -$24.1M | -21.6% |
| 2024-09-30 | $116.1M | -$41.0M | $426000 | -$41.4M | -35.7% |
| 2024-12-31 | $120.7M | -$17.3M | $284000 | -$17.6M | -14.6% |
Cash conversion quality
Checks that separate high-quality free cash flow from accounting noise or working-capital timing.
| FCF / net income | 2.6% | Shows whether accounting earnings convert into cash. |
| CapEx / revenue | 0.2% | Lower capital intensity usually supports FCF margin. |
| Net cash | -$7.2B | 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 trend
Operating cash flow was negative in the current quarter, though it improved from the prior quarter's level. The year-ago quarter showed positive operating cash flow, making the current performance a notable shift.
The negative operating cash flow directly caused free cash flow to be negative, as capital expenditure was relatively small.
What the cash flow says
How to interpret the company's free cash flow beyond the headline number.
Revenue was lower than a year ago but slightly higher than the prior quarter. Operating cash flow was negative, driven by cash outflows that exceeded revenue, resulting in negative free cash flow and a deeply negative free cash flow margin.
Compared to the prior quarter, operating cash flow improved but remained negative, and free cash flow also improved while staying negative. Versus the same quarter a year ago, both operating cash flow and free cash flow shifted from positive to negative, indicating a weakened cash conversion.
Monitor the trajectory of operating cash flow, as it remains negative despite sequential improvement.