Free cash flow takeaway
A quick read on the company's cash generation and what it means for investors.
Revenue slightly decreased from the prior quarter but free cash flow turned strongly positive due to a sharp increase in operating cash flow, while capital expenditure remained stable. Compared to the same quarter one year earlier, revenue and operating cash flow were higher, though capital expenditure data for that period is unavailable.
- The free cash flow margin improved dramatically from negative to positive as operating cash flow more than offset capital expenditure, which increased modestly.
- Compared to the prior quarter, operating cash flow improved significantly, driving free cash flow from negative to positive. Year-over-year, revenue and operating cash flow were higher, but capital expenditure comparison is not possible due to missing data.
FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
n/a
Trailing twelve-month free cash flow.
Quarter free cash flow
$341.0M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$407.0M
Cash generated by operations before capital spending.
CapEx
$66.0M
Capital spending and related asset purchases.
FCF margin
15.4%
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 |
|---|---|---|---|---|---|
| 2023-09-30 | $2.1B | $393.0M | n/a | n/a | n/a |
| 2023-12-31 | $2.9B | $522.0M | n/a | n/a | n/a |
| 2024-03-31 | $2.3B | $24.0M | $60.0M | -$36.0M | -1.6% |
| 2024-06-30 | $2.2B | $407.0M | $66.0M | $341.0M | 15.4% |
Cash conversion quality
Checks that separate high-quality free cash flow from accounting noise or working-capital timing.
| FCF / net income | 241.8% | Shows whether accounting earnings convert into cash. |
| CapEx / revenue | 3.0% | Lower capital intensity usually supports FCF margin. |
| Net cash | -$4.1B | 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 recovery
Operating cash flow improved substantially from the previous quarter, enabling positive free cash flow despite a slight revenue decline.
This recovery supports improved cash generation and financial flexibility.
What the cash flow says
How to interpret the company's free cash flow beyond the headline number.
The free cash flow margin improved dramatically from negative to positive as operating cash flow more than offset capital expenditure, which increased modestly.
Compared to the prior quarter, operating cash flow improved significantly, driving free cash flow from negative to positive. Year-over-year, revenue and operating cash flow were higher, but capital expenditure comparison is not possible due to missing data.
Monitor whether operating cash flow can sustain its current level into future quarters.