Free cash flow takeaway
A quick read on the company's cash generation and what it means for investors.
Revenue and operating cash flow both increased compared to the prior quarter and the same quarter last year. Free cash flow margin improved significantly, reflecting stronger cash generation.
- Operating cash flow grew at a faster pace than revenue, leading to a higher free cash flow margin. Capital expenditure remained relatively stable, allowing most of the operating cash flow increase to flow through to free cash flow.
- Compared to the immediately preceding quarter, all cash flow metrics were higher and the margin improved. Versus the same quarter one year earlier, revenue was higher and free cash flow margin was substantially higher.
FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$404.9M
Trailing twelve-month free cash flow.
Quarter free cash flow
$177.9M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$196.5M
Cash generated by operations before capital spending.
CapEx
$18.6M
Capital spending and related asset purchases.
FCF margin
27.4%
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 | $543.9M | $108.3M | $26.7M | $81.6M | 15.0% |
| 2024-12-31 | $597.5M | $147.5M | $53.6M | $93.9M | 15.7% |
| 2025-03-31 | $569.0M | $63.8M | $12.3M | $51.5M | 9.1% |
| 2025-06-30 | $649.1M | $196.5M | $18.6M | $177.9M | 27.4% |
Cash conversion quality
Checks that separate high-quality free cash flow from accounting noise or working-capital timing.
| FCF / net income | 790.7% | Shows whether accounting earnings convert into cash. |
| CapEx / revenue | 2.9% | 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 Growth
Operating cash flow increased substantially from both the prior quarter and the year-ago period, outpacing revenue growth. This drove a significant improvement in free cash flow margin.
The higher operating cash flow was the primary factor behind the improved free cash flow generation.
What the cash flow says
How to interpret the company's free cash flow beyond the headline number.
Operating cash flow grew at a faster pace than revenue, leading to a higher free cash flow margin. Capital expenditure remained relatively stable, allowing most of the operating cash flow increase to flow through to free cash flow.
Compared to the immediately preceding quarter, all cash flow metrics were higher and the margin improved. Versus the same quarter one year earlier, revenue was higher and free cash flow margin was substantially higher.
Monitor whether the elevated operating cash flow level can be sustained in subsequent quarters.