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Lionsgate Studios cash flow, quarter by quarter

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

Free cash flow−$56.3M in Q2 FY27 · $148M over twelve months

Operating cash flow−$52.7M
Capital spending−$3.6M
Free cash flow−$56.3M

Analysis

In Q2 FY27, Lionsgate Studios generated −$52.7M of operating cash flow and spent $3.6M on capital projects, leaving free cash flow of −$56.3M. That is $50.9M more than in Q2 FY26 (−$107M).

Over the twelve months to Sep 30, 2026, operating cash flow was $161M; the largest uses were capital spending ($13.2M), partners ($9.4M); besides operations, cash came from shares issued ($6.3M), other investing ($3.6M); the cash balance rose by $148M.

Operating cash flow was −$52.7M against net income of −$15.6M. The largest differences: receivables +$91.9M, prepaid and other assets −$62.3M, payables −$34.8M.

Free cash flow

Lionsgate Studios: free cash flow by quarterLionsgate Studios: free cash flow by quarter−$120MQ3 FY25$190MQ4 FY25−$34.5MQ1 FY26−$107MQ2 FY26−$112MQ3 FY26$265MQ4 FY26$51.2MQ1 FY27−$56.3MQ2 FY27
Operating cash flow less capital spending.
Lionsgate Studios: operating cash flow against capital spendingLionsgate Studios: operating cash flow against capital spendingOperating cash flowCapital spending−$119M$1.3MQ3 FY25$194M$3.6MQ4 FY25−$31.0M$3.5MQ1 FY26−$104M$3.2MQ2 FY26−$109M$3.0MQ3 FY26$269M$3.7MQ4 FY26$54.1M$2.9MQ1 FY27−$52.7M$3.6MQ2 FY27
Latest (Q2 FY27): Operating cash flow −$52.7M, Capital spending $3.6M.

Capital allocation, year by year

Lionsgate Studios: where the cash came from (up) and went (down), by fiscal yearLionsgate Studios: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingFY23: Operating cash flow $346MFY23: Net borrowing −$223MFY23: Capital spending −$6.5M$346MFY23FY24: Operating cash flow $397MFY24: Net borrowing $472MFY24: Shares issued $500KFY24: Capital spending −$9.9M$870MFY24FY25: Operating cash flow −$166MFY25: Net borrowing −$208MFY25: Shares issued $700KFY25: Capital spending −$13.5M$700KFY25FY26: Operating cash flow $24.8MFY26: Net borrowing −$50.9MFY26: Shares issued $278MFY26: Capital spending −$13.4M$303MFY26
Over these 4 years operating cash flow totalled $602M; the largest uses were net borrowing ($482M) and operating cash flow ($166M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$358M
Debt$1.9B
Net debt$1.5B
Due within a year$162M
Cash runway19 months

Lionsgate Studios is burning cash: its operations consume cash, a free cash flow of −$225M a year at the current rate against $358M of cash and investments: a runway of about 19 months; $162M of debt also comes due within a year, which would need refinancing or new money before any new financing.

Lionsgate Studios: debt maturities by year (FY26)Lionsgate Studios: debt maturities by year (FY26)$162MYear 1$162MYear 2$162MYear 3$1.1BYear 4$390MYear 5
Principal due in each year as disclosed in the annual report, against $358M of cash and investments now.

Where the cash came from and went

Lionsgate Studios: sources (+) and uses (−) of cash, Q2 FY27Lionsgate Studios: sources (+) and uses (−) of cash, Q2 FY27Other financing$90.9MCash drawn (+) / kept (−)$64.3MOperating cash flow−$52.7MNet borrowing (+) / repaid (−)−$48.5MTaxes on employees’ shares−$48.3MCapital spending−$3.6MPartners−$2.8MExchange rates$500KShares issued$300KOther investing−$100K
Lionsgate Studios: sources (+) and uses (−) of cash, TTM to Q2 FY27Lionsgate Studios: sources (+) and uses (−) of cash, TTM to Q2 FY27Operating cash flow$161MCash drawn (+) / kept (−)−$148MCapital spending−$13.2MPartners−$9.4MShares issued$6.3MOther investing$3.6MExchange rates−$800KOther financing$500K

From profit to cash

Lionsgate Studios: net income to operating cash flow, Q2 FY27Lionsgate Studios: net income to operating cash flow, Q2 FY27Net income−$15.6MDepreciation & amortization$4.4MStock-based pay$22.2MOther non-cash$6.6MReceivables$91.9MPayables−$34.8MDeferred revenue−$16.2MPrepaid and other assets−$62.3MOperating cash flow−$52.7M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 FY27−$52.7M−$3.6M−$48.5M$300K$64.3M−$56.3M
Q1 FY27$54.1M−$2.9M−$41.2M$5.6M−$79.6M$51.2M
Q4 FY26$269M−$3.7M$13.8M—−$172M$265M
Q3 FY26−$109M−$3.0M−$14.2M—$38.9M−$112M
Q2 FY26−$104M−$3.2M$261M—−$29.3M−$107M
Q1 FY26−$31.0M−$3.5M−$312M$278M$34.0M−$34.5M
Q4 FY25$194M−$3.6M−$273M—−$37.5M$190M
Q3 FY25−$119M−$1.3M$96.2M$400K$35.2M−$120M

Lionsgate Studios: income statement and cash flow

Lionsgate Studios, Q2 FY27: revenue $669M (+41% year over year), operating margin 4.4%. The chart follows the revenue to costs, profit and cash.

Lionsgate Studios: 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.