Free cash flow takeaway
A quick read on the company's cash generation and what it means for investors.
Operating cash flow turned positive, driving free cash flow to a positive figure for the first time in the periods shown. Revenue increased compared to both the prior quarter and the same quarter last year.
- Revenue rose while operating cash flow shifted from negative to positive, resulting in a positive free cash flow margin. Capital expenditure was higher than the prior quarter but lower than the year-ago quarter.
- Compared to the prior quarter, all cash flow metrics improved: operating cash flow, free cash flow, and free cash flow margin all turned positive. Versus the same quarter last year, the same metrics also improved from negative to positive.
FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
-$69.6M
Trailing twelve-month free cash flow.
Quarter free cash flow
$36.6M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$44.2M
Cash generated by operations before capital spending.
CapEx
$7.5M
Capital spending and related asset purchases.
FCF margin
11.6%
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 |
|---|---|---|---|---|---|
| 2024-09-30 | $180.9M | $48.7M | $43000 | $48.6M | 26.9% |
| 2024-12-31 | $200.7M | -$39.3M | $8.0M | -$47.2M | -23.5% |
| 2025-03-31 | $255.7M | -$105.6M | $2.1M | -$107.7M | -42.1% |
| 2025-06-30 | $314.6M | $44.2M | $7.5M | $36.6M | 11.6% |
Cash conversion quality
Checks that separate high-quality free cash flow from accounting noise or working-capital timing.
| FCF / net income | -85.5% | Shows whether accounting earnings convert into cash. |
| CapEx / revenue | 2.4% | 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 Turnaround
Operating cash flow improved from a significant negative figure in both the prior quarter and the year-ago quarter to a positive figure this quarter. This shift was the primary factor behind the positive free cash flow.
The change in operating cash flow directly enabled free cash flow to turn positive for the first time in the periods shown.
What the cash flow says
How to interpret the company's free cash flow beyond the headline number.
Revenue rose while operating cash flow shifted from negative to positive, resulting in a positive free cash flow margin. Capital expenditure was higher than the prior quarter but lower than the year-ago quarter.
Compared to the prior quarter, all cash flow metrics improved: operating cash flow, free cash flow, and free cash flow margin all turned positive. Versus the same quarter last year, the same metrics also improved from negative to positive.
Monitor whether operating cash flow can sustain its positive level in future quarters.