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Arhaus cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$91.9M in Q3 2026 · $105M over twelve months

Operating cash flow$113M
Capital spending−$21.3M
Free cash flow+$91.9M
Cash / net income14.5×
Cash conversion cycle117 days

Analysis

In Q3 2026, Arhaus generated $113M of operating cash flow and spent $21.3M on capital projects, leaving free cash flow of $91.9M. That is $63.9M more than in Q3 2025 ($28.0M).

Over the twelve months to Sep 30, 2026, operating cash flow was $182M; the largest uses were capital spending ($77.5M), dividends ($49.6M), taxes on employees’ shares ($1.8M); besides operations, cash came from other investing ($1.2M), asset & business sales ($59K); the cash balance rose by $53.5M.

Operating cash flow was $113M against net income of $7.8M — 14.5× profit, cash ran ahead of reported earnings. The largest differences: prepaid and other assets +$29.1M, depreciation & amortization +$14.3M, inventory −$7.0M.

Its cash conversion cycle was 117 days (receivables 0 + inventory 147 − payables 30).

Free cash flow

Arhaus: free cash flow by quarterArhaus: free cash flow by quarter$13.0MQ4 2024$18.9MQ1 2025$20.9MQ2 2025$28.0MQ3 2025−$8.8MQ4 2025−$26.6MQ1 2026$48.3MQ2 2026$91.9MQ3 2026
Operating cash flow less capital spending.
Arhaus: operating cash flow against capital spendingArhaus: operating cash flow against capital spendingOperating cash flowCapital spending$31.7M$18.7MQ4 2024$46.5M$27.6MQ1 2025$34.9M$14.0MQ2 2025$46.1M$18.1MQ3 2025$9.3M$18.1MQ4 2025−$9.7M$16.9MQ1 2026$69.5M$21.2MQ2 2026$113M$21.3MQ3 2026
Latest (Q3 2026): Operating cash flow $113M, Capital spending $21.3M.

Capital allocation, year by year

Arhaus: where the cash came from (up) and went (down), by fiscal yearArhaus: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingDividendsFY2021: Operating cash flow $141MFY2021: Shares issued $157MFY2021: Capital spending −$43.0M$299MFY2021FY2022: Operating cash flow $77.5MFY2022: Net borrowing −$177KFY2022: Capital spending −$55.7M$77.5MFY2022FY2023: Operating cash flow $169MFY2023: Net borrowing −$763KFY2023: Capital spending −$93.4M$169MFY2023FY2024: Operating cash flow $147MFY2024: Net borrowing −$927KFY2024: Asset sales $7.8MFY2024: Capital spending −$107MFY2024: Dividends −$70.3M$155MFY2024FY2025: Operating cash flow $137MFY2025: Net borrowing −$705KFY2025: Asset sales $54KFY2025: Capital spending −$77.9MFY2025: Dividends −$361K$137MFY2025
Over these 5 years operating cash flow totalled $671M; the largest uses were capital spending ($377M) and dividends ($70.6M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$318M
Debtnone
Net cash$318M

Arhaus funds itself: free cash flow was $105M over the last twelve months, with $318M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Arhaus: sources (+) and uses (−) of cash, Q3 2026Arhaus: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$113MCash drawn (+) / kept (−)−$91.7MCapital spending−$21.3MNet borrowing (+) / repaid (−)−$246KOther investing$59KTaxes on employees’ shares−$17K
Arhaus: sources (+) and uses (−) of cash, TTM to Q3 2026Arhaus: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$182MCapital spending−$77.5MCash drawn (+) / kept (−)−$53.5MDividends−$49.6MTaxes on employees’ shares−$1.8MOther investing$1.2MNet borrowing (+) / repaid (−)−$846KOther financing−$245KAsset & business sales$59K

From profit to cash

Arhaus: net income to operating cash flow, Q3 2026Arhaus: net income to operating cash flow, Q3 2026Net income$7.8MDepreciation & amortization$14.3MStock-based pay$2.4MGains on disposals$12KReceivables−$84KInventory−$7.0MPayables$454KAccrued liabilities$1.6MPrepaid and other assets$29.1MOther liabilities−$50KOperating cash flow$113M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 2026014730117
Q2 2026015530125
Q1 2026015933127
Q4 2025013630106
Q3 2025013931109
Q2 2025013328105
Q1 2025013829108
Q4 2024013131100

Every quarter

QuarterOperating cash flowCapital spendingDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$113M−$21.3M—−$246K−$91.7M$91.9M
Q2 2026$69.5M−$21.2M−$80K−$241K−$47.4M$48.3M
Q1 2026−$9.7M−$16.9M−$49.5M−$184K$76.1M−$26.6M
Q4 2025$9.3M−$18.1M−$21K−$175K$9.4M−$8.8M
Q3 2025$46.1M−$18.1M−$64K−$165K−$27.4M$28.0M
Q2 2025$34.9M−$14.0M−$37K−$153K−$20.5M$20.9M
Q1 2025$46.5M−$27.6M−$239K−$212K−$17.0M$18.9M
Q4 2024$31.7M−$18.7M−$111K−$241K−$20.0M$13.0M

Arhaus: income statement and cash flow

Arhaus, Q3 2026: revenue $368M (+7% year over year), operating margin 2.7%. The chart follows the revenue to costs, profit and cash.

Arhaus: 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.