Free cash flow takeaway
A quick read on the company's cash generation and what it means for investors.
For the period, the company generated negative free cash flow with a deeply negative margin, as operating cash outflows exceeded capital expenditures. Revenue declined from the prior period but increased compared to the same period one year earlier.
- The company's cash conversion was negative, with operating cash flow and free cash flow both in deficit. Revenue was insufficient to cover cash outflows, leading to a negative free cash flow margin.
- Compared to the immediately preceding period, free cash flow was more negative, while operating cash flow also worsened. Versus the same period one year earlier, free cash flow was more negative, though the margin improved from a very low base. Revenue was lower sequentially but higher year-over-year.
FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
-$37.0M
Trailing twelve-month free cash flow.
Quarter free cash flow
-$12.2M
Free cash flow in the selected fiscal quarter.
Operating cash flow
-$11.0M
Cash generated by operations before capital spending.
CapEx
$1.2M
Capital spending and related asset purchases.
FCF margin
-6147.5%
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 |
|---|---|---|---|---|---|
| 2025-03-31 | $39000 | -$4.4M | $1.7M | -$6.2M | -15805.1% |
| 2025-06-30 | $61000 | -$6.1M | $1.0M | -$7.1M | -11683.6% |
| 2025-09-30 | $384000 | -$8.7M | $2.8M | -$11.5M | -3000.3% |
| 2025-12-31 | $198000 | -$11.0M | $1.2M | -$12.2M | -6147.5% |
Cash conversion quality
Checks that separate high-quality free cash flow from accounting noise or working-capital timing.
| FCF / net income | 782.3% | Shows whether accounting earnings convert into cash. |
| CapEx / revenue | 583.8% | 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.
Cash Burn from Operations
Operating cash flow was negative and capital expenditure added to the cash outflow, resulting in a free cash flow deficit.
The company's reliance on external funding to sustain operations continues.
What the cash flow says
How to interpret the company's free cash flow beyond the headline number.
The company's cash conversion was negative, with operating cash flow and free cash flow both in deficit. Revenue was insufficient to cover cash outflows, leading to a negative free cash flow margin.
Compared to the immediately preceding period, free cash flow was more negative, while operating cash flow also worsened. Versus the same period one year earlier, free cash flow was more negative, though the margin improved from a very low base. Revenue was lower sequentially but higher year-over-year.
The cash and investment balances from equity financing should be monitored against the continuing negative cash flows from operations.