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Aeries Technology cash flow, quarter by quarter

Latest: Q1 FY27 · from the cash-flow statements filed with the SEC

Free cash flow$4.5M in Q1 FY27 · $9.1M over twelve months

Operating cash flow$4.8M
Capital spending−$279K
Free cash flow+$4.5M
Cash / net income2.2×
Cash conversion cycle-1 days

Analysis

In Q1 FY27, Aeries Technology generated $4.8M of operating cash flow and spent $279K on capital projects, leaving free cash flow of $4.5M. That is $3.4M more than in Q1 FY26 ($1.1M).

Over the twelve months to Jun 30, 2026, operating cash flow was $10.2M; the largest uses were other financing ($3.5M), net borrowing (+) / repaid (−) ($1.7M), capital spending ($1.1M); besides operations, cash came from other investing ($305K); the cash balance rose by $3.9M.

Operating cash flow was $4.8M against net income of $2.2M — 2.2× profit, cash ran ahead of reported earnings. The largest differences: stock-based pay +$710K, payables −$402K, deferred taxes −$387K.

Its cash conversion cycle was -1 days (receivables 52 + inventory 0 − payables 53): suppliers fund its working capital.

Free cash flow

Aeries Technology: free cash flow by quarterAeries Technology: free cash flow by quarter$1.3MQ2 FY25−$2.5MQ3 FY25$752KQ4 FY25$1.1MQ1 FY26$653KQ2 FY26$2.1MQ3 FY26$1.8MQ4 FY26$4.5MQ1 FY27
Operating cash flow less capital spending.
Aeries Technology: operating cash flow against capital spendingAeries Technology: operating cash flow against capital spendingOperating cash flowCapital spending$1.9M$612KQ2 FY25−$2.1M$390KQ3 FY25$864K$112KQ4 FY25$1.4M$259KQ1 FY26$1.0M$372KQ2 FY26$2.4M$234KQ3 FY26$2.0M$248KQ4 FY26$4.8M$279KQ1 FY27
Latest (Q1 FY27): Operating cash flow $4.8M, Capital spending $279K.

Capital allocation, year by year

Aeries Technology: where the cash came from (up) and went (down), by fiscal yearAeries Technology: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingFY23: Operating cash flow $2.1MFY23: Net borrowing $1.2MFY23: Asset sales $12KFY23: Capital spending −$1.6M$3.3MFY23FY24: Operating cash flow −$4.3MFY24: Net borrowing −$782KFY24: Shares issued $8.7MFY24: Asset sales $8.7MFY24: Capital spending −$1.5M$17.3MFY24FY25: Operating cash flow −$1.0MFY25: Net borrowing −$1.8MFY25: Shares issued $4.7MFY25: Asset sales $4.7MFY25: Capital spending −$1.5M$9.4MFY25FY26: Operating cash flow $6.8MFY26: Net borrowing −$2.1MFY26: Asset sales $7KFY26: Capital spending −$1.1M$6.8MFY26
Over these 4 years operating cash flow totalled $3.6M; the largest uses were capital spending ($5.7M) and operating cash flow ($5.3M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$6.1M
Debt$4.2M
Net cash$1.9M
Due within a year$4.1M

Aeries Technology funds itself: free cash flow was $9.1M over the last twelve months, and $6.1M of cash and investments stands against $4.2M of debt ($4.1M due within a year, 1.5× covered by cash).

Where the cash came from and went

Aeries Technology: sources (+) and uses (−) of cash, Q1 FY27Aeries Technology: sources (+) and uses (−) of cash, Q1 FY27Operating cash flow$4.8MOther financing−$2.5MCash drawn (+) / kept (−)−$1.2MNet borrowing (+) / repaid (−)−$813KCapital spending−$279KExchange rates$2KAsset & business sales$1K
Aeries Technology: sources (+) and uses (−) of cash, TTM to Q1 FY27Aeries Technology: sources (+) and uses (−) of cash, TTM to Q1 FY27Operating cash flow$10.2MCash drawn (+) / kept (−)−$3.9MOther financing−$3.5MNet borrowing (+) / repaid (−)−$1.7MCapital spending−$1.1MOther investing$305KExchange rates−$241K

From profit to cash

Aeries Technology: net income to operating cash flow, Q1 FY27Aeries Technology: net income to operating cash flow, Q1 FY27Net income$2.2MDepreciation & amortization$224KStock-based pay$710KDeferred taxes−$387KGains on disposals$11KOther non-cash$223KReceivables$278KPayables−$402KPrepaid and other assets−$300KOther liabilities$295KOperating cash flow$4.8M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q1 FY2752—53-1
Q4 FY2652—484
Q3 FY2657—4512
Q2 FY2655—56-1
Q1 FY2661—62-1
Q4 FY2559—518
Q3 FY2585—5134
Q2 FY25111—4863

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q1 FY27$4.8M−$279K−$813K−$1.2M$4.5M
Q4 FY26$2.0M−$248K$1.4M−$2.3M$1.8M
Q3 FY26$2.4M−$234K−$1.3M−$704K$2.1M
Q2 FY26$1.0M−$372K−$903K$271K$653K
Q1 FY26$1.4M−$259K−$1.1M$627K$1.1M
Q4 FY25$864K−$112K—−$378K$752K
Q3 FY25−$2.1M−$390K$1.7M$1.2M−$2.5M
Q2 FY25$1.9M−$612K−$1.7M$570K$1.3M

Aeries Technology: income statement and cash flow

Aeries Technology, Q1 FY27: revenue $21.9M (+43% year over year), operating margin 15.3%. The chart follows the revenue to costs, profit and cash.

Aeries Technology: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.