Three-Statement Breakdown
FCF UP
Free cash flow moved from -$214.6M to $461.5M.
CASH FROM OPS
—
624
CAPITAL EXPENDITURE
-3.9%
163
FREE CASH FLOW
—
462
FCF / NET INCOME
—
—
| Cash flow | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | YoY | TTM | 8Q | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income |
|
334 | 404 | 589 | 418 | -1,125 | -3,744 | -4,479 | -298 | — | -320 | |
| Depreciation & amortization |
|
40 | 48 | 56 | 61 | 122 | 171 | 229 | 198 | -13.5% | 196 | |
| Stock-based comp |
|
248 | 258 | 110 | 183 | 318 | 336 | 324 | 305 | -5.8% | 351 | |
| Cash from operations |
|
844 | 686 | 912 | 258 | 1 | -16 | -45 | 624 | — | 500 | |
| Cash conversion |
NOT DISCLOSED
|
2.53× | 1.70× | 1.55× | 0.62× | — | — | — | — | — | — | |
| Capital expenditures |
|
(67) | (53) | (69) | (159) | (204) | (142) | (169) | (163) | -3.9% | (163) | |
| Free cash flow |
|
777 | 632 | 843 | 99 | -203 | -158 | -215 | 462 | — | 338 | |
| FCF margin |
|
29.1% | 20.5% | 25.0% | 2.8% | -3.8% | -2.9% | -3.8% | 6.9% | — | 5.0% | |
| Cash from investing |
|
-224 | 4 | -807 | 139 | -2,876 | -28 | -152 | -649 | — | -665 | |
| Share repurchases |
NOT DISCLOSED
|
362 | 0 | 0 | 200 | 0 | 0 | — | — | — | — | |
| Debt repayment |
NOT DISCLOSED
|
— | — | 0 | 0 | 1,167 | — | — | — | — | — | |
| Cash from financing |
|
-464 | -77 | -57 | -257 | 1,930 | -91 | 650 | 95 | -85.5% | -493 | |
| Net change in cash |
|
146 | 601 | 67 | 135 | -961 | -133 | 457 | 79 | -82.7% | -670 | |
| Ending cash balance |
|
827 | 1,358 | 1,423 | 1,732 | 827 | 754 | 1,456 | 1,546 | +6.1% | 1,365 | |
Click a line to select it — Enter or the EXPAND pill folds out its quarter-by-quarter history.
SELECTED · FREE CASH FLOW · QoQ BRIDGE
FROM-215
CASH FROM OPERATIONS+670
CAPITAL EXPENDITURES+7
TO462
No bridge for this line yet — select Free cash flow to see its QoQ walk.
↹ CLICK A LINE TO SELECT · ⌘F FIND LINE ITEM
SRC 10-Q FILED 2026-08-07 ↗