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Torrid Holdings cash flow, quarter by quarter

Latest: Q2 FY27 · from the cash-flow statements filed with the SEC

Free cash flow−$3.0M in Q2 FY27 · −$13.3M over twelve months

Operating cash flow−$1.1M
Capital spending−$1.9M
Free cash flow−$3.0M
Cash / net income-0.2×

Analysis

In Q2 FY27, Torrid Holdings generated −$1.1M of operating cash flow and spent $1.9M on capital projects, leaving free cash flow of −$3.0M.

Over the twelve months to Aug 1, 2026, operating cash flow was −$677K; the largest uses were other financing ($17.5M), capital spending ($12.6M), operating cash flow ($677K); besides operations, cash came from net borrowing (+) / repaid (−) ($31.8M), shares issued ($156K); the cash balance rose by $483K.

Operating cash flow was −$1.1M against net income of $5.2M — -0.2× profit, less cash than reported earnings, worth checking against working capital. The largest differences: payables −$20.1M, inventory +$16.1M, accrued liabilities −$8.3M.

Free cash flow

Torrid Holdings: free cash flow by quarterTorrid Holdings: free cash flow by quarter−$5.5MQ3 FY25$10.2MQ4 FY25−$20.6MQ1 FY26$14.6MQ2 FY26−$6.6MQ3 FY26−$9.3MQ4 FY26$5.7MQ1 FY27−$3.0MQ2 FY27
Operating cash flow less capital spending.
Torrid Holdings: operating cash flow against capital spendingTorrid Holdings: operating cash flow against capital spendingOperating cash flowCapital spending−$3.1M$2.4MQ3 FY25$12.0M$1.8MQ4 FY25−$18.0M$2.5MQ1 FY26$15.7M$1.1MQ2 FY26−$4.9M$1.8MQ3 FY26−$5.9M$3.4MQ4 FY26$11.2M$5.5MQ1 FY27−$1.1M$1.9MQ2 FY27
Latest (Q2 FY27): Operating cash flow −$1.1M, Capital spending $1.9M.

Capital allocation, year by year

Torrid Holdings: where the cash came from (up) and went (down), by fiscal yearTorrid Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingBuybacksFY22: Operating cash flow $121MFY22: Shares issued $569KFY22: Capital spending −$17.6MFY22: Buybacks −$23.4M$122MFY22FY23: Operating cash flow $53.3MFY23: Net borrowing $8.4MFY23: Shares issued $746KFY23: Capital spending −$23.4MFY23: Buybacks −$31.7M$62.4MFY23FY24: Operating cash flow $42.8MFY24: Net borrowing −$1.1MFY24: Shares issued $399KFY24: Capital spending −$26.0M$43.2MFY24FY25: Operating cash flow $77.4MFY25: Net borrowing −$7.3MFY25: Shares issued $1.0MFY25: Capital spending −$14.4M$78.4MFY25FY26: Operating cash flow −$13.0MFY26: Net borrowing $31.0MFY26: Shares issued $281KFY26: Capital spending −$8.9MFY26: Buybacks −$20.1M$31.3MFY26
Over these 5 years operating cash flow totalled $282M; the largest uses were capital spending ($90.2M) and buybacks ($75.1M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$22.0M
Debt$264M
Net debt$242M
Due within a year$16.1M
Cash runway20 months

Torrid Holdings is burning cash: its operations consume cash, a free cash flow of −$13.3M a year at the current rate against $22.0M of cash and investments: a runway of about 20 months; $16.1M of debt also comes due within a year, which would need refinancing or new money before any new financing.

Where the cash came from and went

Torrid Holdings: sources (+) and uses (−) of cash, Q2 FY27Torrid Holdings: sources (+) and uses (−) of cash, Q2 FY27Net borrowing (+) / repaid (−)$6.8MOther financing−$4.4MCapital spending−$1.9MOperating cash flow−$1.1MCash drawn (+) / kept (−)$837KExchange rates−$325KShares issued$74KTaxes on employees’ shares−$17K
Torrid Holdings: sources (+) and uses (−) of cash, TTM to Q2 FY27Torrid Holdings: sources (+) and uses (−) of cash, TTM to Q2 FY27Net borrowing (+) / repaid (−)$31.8MOther financing−$17.5MCapital spending−$12.6MOperating cash flow−$677KCash drawn (+) / kept (−)−$483KBuybacks−$271KTaxes on employees’ shares−$248KExchange rates−$171KShares issued$156K

From profit to cash

Torrid Holdings: net income to operating cash flow, Q2 FY27Torrid Holdings: net income to operating cash flow, Q2 FY27Net income$5.2MDepreciation & amortization$5.4MStock-based pay$2.3MInventory$16.1MPayables−$20.1MAccrued liabilities−$8.3MPrepaid and other assets−$1.0MOperating cash flow−$1.1M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 FY27−$1.1M−$1.9M—$6.8M$74K$837K−$3.0M
Q1 FY27$11.2M−$5.5M−$186K$1.8M—−$2.8M$5.7M
Q4 FY26−$5.9M−$3.4M—$16.1M$82K−$2.8M−$9.3M
Q3 FY26−$4.9M−$1.8M−$85K$7.0M—$4.3M−$6.6M
Q2 FY26$15.7M−$1.1M−$20.0M$7.9M$172K$2.1M$14.6M
Q1 FY26−$18.0M−$2.5M——$27K$24.8M−$20.6M
Q4 FY25$12.0M−$1.8M——$340K−$4.6M$10.2M
Q3 FY25−$3.1M−$2.4M——$181K$10.0M−$5.5M

Torrid Holdings: income statement and cash flow

Torrid Holdings, Q2 FY27: revenue $232M (-12% year over year), operating margin 6.3%. The chart follows the revenue to costs, profit and cash.

Torrid Holdings: 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.