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Smartbird cash flow, quarter by quarter

Latest: Q1 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$12.1M in Q1 2026

Operating cash flow−$12.1M
Capital spending−$72K
Free cash flow−$12.1M

Analysis

In Q1 2026, Smartbird generated −$12.1M of operating cash flow and spent $72K on capital projects, leaving free cash flow of −$12.1M. That is $16.4M more than in Q1 2025 (−$28.5M).

Operating cash flow was −$12.1M against net income of −$20.7M. The largest differences: prepaid and other assets +$2.0M, receivables +$1.5M, depreciation & amortization +$1.4M.

Its cash conversion cycle was 169 days (receivables 23 + inventory 212 − payables 66).

Free cash flow

Smartbird: free cash flow by quarterSmartbird: free cash flow by quarter−$11.9MQ3 2024−$11.9MQ4 2024−$28.5MQ1 2025−$9.4MQ2 2025−$16.1MQ3 2025−$4.1MQ4 2025−$12.1MQ1 2026
Operating cash flow less capital spending.
Smartbird: operating cash flow against capital spendingSmartbird: operating cash flow against capital spendingOperating cash flowCapital spending−$11.2M$656KQ3 2024−$10.8M$1.0MQ4 2024−$27.9M$643KQ1 2025−$8.7M$728KQ2 2025−$15.2M$904KQ3 2025−$3.3M$870KQ4 2025−$12.1M$72KQ1 2026
Latest (Q1 2026): Operating cash flow −$12.1M, Capital spending $72K.

Capital allocation, year by year

Smartbird: where the cash came from (up) and went (down), by fiscal yearSmartbird: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingFY2021: Operating cash flow −$50.9MFY2021: Shares issued $5.5MFY2021: Capital spending −$24.2M$5.5MFY2021FY2022: Operating cash flow −$90.6MFY2022: Net borrowing $539KFY2022: Shares issued $4.0MFY2022: Capital spending −$31.4M$4.5MFY2022FY2023: Operating cash flow −$30.2MFY2023: Shares issued $1.2MFY2023: Asset sales $2.2MFY2023: Capital spending −$10.9M$3.4MFY2023FY2024: Operating cash flow −$63.9MFY2024: Shares issued $288KFY2024: Asset sales $4.0MFY2024: Capital spending −$4.1M$4.3MFY2024FY2025: Operating cash flow −$55.1MFY2025: Net borrowing $17.4MFY2025: Shares issued $8KFY2025: Asset sales $390KFY2025: Capital spending −$3.1M$17.8MFY2025
Over these 5 years operating cash flow totalled −$291M; the largest uses were operating cash flow ($291M) and capital spending ($73.7M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$37.4M
Debt$17.4M
Net cash$19.9M
Cash runway9 months

Smartbird is burning cash: its operations consume cash, a free cash flow of −$48.5M a year at the current rate against $37.4M of cash and investments: a runway of about 9 months before any new financing.

Where the cash came from and went

Smartbird: sources (+) and uses (−) of cash, Q1 2026Smartbird: sources (+) and uses (−) of cash, Q1 2026Operating cash flow−$12.1MCash drawn (+) / kept (−)$11.9MOther investing$137KCapital spending−$72KNet borrowing (+) / repaid (−)$72KExchange rates−$19K

From profit to cash

Smartbird: net income to operating cash flow, Q1 2026Smartbird: net income to operating cash flow, Q1 2026Net income−$20.7MDepreciation & amortization$1.4MStock-based pay$1.2MImpairments$1.0MReceivables$1.5MInventory$963KDeferred revenue−$89KPrepaid and other assets$2.0MOperating cash flow−$12.1M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q1 20262321266169
Q4 20251112619118
Q3 20251820958169
Q1 20251622141195
Q4 2024101223597
Q3 20241721454177

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q1 2026−$12.1M−$72K$72K—$11.9M−$12.1M
Q4 2025−$3.3M−$870K$6.9M—−$3.0M−$4.1M
Q3 2025−$15.2M−$904K$7.3M$67K$9.4M−$16.1M
Q2 2025−$8.7M−$728K$5.0M$1K$5.9M−$9.4M
Q1 2025−$27.9M−$643K—$7K$27.7M−$28.5M
Q4 2024−$10.8M−$1.0M—$104K$11.9M−$11.9M
Q3 2024−$11.2M−$656K——$8.6M−$11.9M

Smartbird: income statement and cash flow

Smartbird, Q1 2026: revenue $22.3M (-30% year over year), operating margin -98.6%. The chart follows the revenue to costs, profit and cash.

Smartbird: 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.