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Axe Compute cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow$4.0M in Q2 2026 · −$5.3M over twelve months

Operating cash flow$21.1M
Capital spending−$17.1M
Free cash flow+$4.0M

Analysis

In Q2 2026, Axe Compute generated $21.1M of operating cash flow and spent $17.1M on capital projects, leaving free cash flow of $4.0M. That is $7.3M more than in Q2 2025 (−$3.3M).

Over the twelve months to Jun 30, 2026, operating cash flow was $11.8M; the largest uses were other investing ($32.6M), capital spending ($17.1M), other financing ($4.1M); besides operations, cash came from shares issued ($63.7M), net borrowing (+) / repaid (−) ($150K); the cash balance rose by $21.4M.

Operating cash flow was $21.1M against net income of −$17.2M. The largest differences: deferred revenue +$60.0M, receivables −$2.7M, payables +$1.1M.

Free cash flow

Axe Compute: free cash flow by quarterAxe Compute: free cash flow by quarter−$2.5MQ3 2024−$2.1MQ4 2024−$986KQ1 2025−$3.3MQ2 2025−$1.7MQ3 2025−$3.9MQ4 2025−$3.8MQ1 2026$4.0MQ2 2026
Operating cash flow less capital spending.
Axe Compute: operating cash flow against capital spendingAxe Compute: operating cash flow against capital spendingOperating cash flowCapital spending−$2.5M$0Q3 2024−$2.1M$6KQ4 2024−$986K$0Q1 2025−$3.3M$0Q2 2025−$1.7M$0Q3 2025−$3.9M$0Q4 2025−$3.7M$21KQ1 2026$21.1M$17.1MQ2 2026
Latest (Q2 2026): Operating cash flow $21.1M, Capital spending $17.1M.

Capital allocation, year by year

Axe Compute: where the cash came from (up) and went (down), by fiscal yearAxe Compute: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow −$12.2MFY2021: Shares issued $50.5MFY2021: Capital spending −$910KFY2021: Acquisitions −$9.6MFY2021: Buybacks −$12K$50.5MFY2021FY2022: Operating cash flow −$12.4MFY2022: Shares issued $6.5MFY2022: Capital spending −$476KFY2022: Buybacks −$28K$6.5MFY2022FY2023: Operating cash flow −$13.2MFY2023: Net borrowing $150KFY2023: Capital spending −$48KFY2023: Buybacks −$2K$150KFY2023FY2024: Operating cash flow −$10.1MFY2024: Net borrowing −$150KFY2024: Shares issued $5.0MFY2024: Capital spending −$10K$5.0MFY2024FY2025: Operating cash flow −$9.9MFY2025: Net borrowing $108KFY2025: Shares issued $56.0M$56.1MFY2025
Over these 5 years operating cash flow totalled −$57.7M; the largest uses were operating cash flow ($57.7M) and acquisitions ($9.6M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$21.9M
Debtnone
Net cash$21.9M

Axe Compute's operations bring cash in ($11.8M over twelve months), and it spends more than that on capital projects: a gap of $5.3M funded from its $21.9M of cash and investments and from borrowing. That is a choice to invest, not a cash runway running down.

Where the cash came from and went

Axe Compute: sources (+) and uses (−) of cash, Q2 2026Axe Compute: sources (+) and uses (−) of cash, Q2 2026Operating cash flow$21.1MCapital spending−$17.1MCash drawn (+) / kept (−)−$15.0MShares issued$10.8MOther financing$217KTaxes on employees’ shares−$57KNet borrowing (+) / repaid (−)−$27K
Axe Compute: sources (+) and uses (−) of cash, TTM to Q2 2026Axe Compute: sources (+) and uses (−) of cash, TTM to Q2 2026Shares issued$63.7MOther investing−$32.6MCash drawn (+) / kept (−)−$21.4MCapital spending−$17.1MOperating cash flow$11.8MOther financing−$4.1MNot reconciled−$283KNet borrowing (+) / repaid (−)$150KTaxes on employees’ shares−$132K

From profit to cash

Axe Compute: net income to operating cash flow, Q2 2026Axe Compute: net income to operating cash flow, Q2 2026Net income−$17.2MDepreciation & amortization$26KStock-based pay$572KReceivables−$2.7MPayables$1.1MAccrued liabilities−$131KDeferred revenue$60.0MPrepaid and other assets−$533KOperating cash flow$21.1M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202562344422374-21307
Q2 202514042216395-4769
Q1 202538912253-2123
Q4 202426058213263163
Q3 2024100184414111323300

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026$21.1M−$17.1M−$27K$10.8M−$15.0M$4.0M
Q1 2026−$3.7M−$21K−$81K$14K$3.9M−$3.8M
Q4 2025−$3.9M—−$79K$51.4M−$10.6M−$3.9M
Q3 2025−$1.7M—−$77K$1.4M$324K−$1.7M
Q2 2025−$3.3M——$586K$2.6M−$3.3M
Q1 2025−$986K——$2.6M−$2.4M−$986K
Q4 2024−$2.1M−$6K−$196K—$2.3M−$2.1M
Q3 2024−$2.5M—−$79K$1.3M$2.3M−$2.5M

Axe Compute: income statement and cash flow

Axe Compute, Q2 2026: revenue $3.2M (1,199× year over year), operating margin -539.0%. The chart follows the revenue to costs, profit and cash.

Axe Compute: 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.