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Netscout Systems cash flow, quarter by quarter

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

Free cash flow−$15.8M in Q2 FY27 · $241M over twelve months

Operating cash flow−$15.1M
Capital spending−$642K
Free cash flow−$15.8M
Cash / net income-0.4×
Cash conversion cycle49 days

Analysis

In Q2 FY27, Netscout Systems generated −$15.1M of operating cash flow and spent $642K on capital projects, leaving free cash flow of −$15.8M. That is $20.2M less than in Q2 FY26 ($4.4M).

Over the twelve months to Sep 30, 2026, operating cash flow was $250M; the largest uses were other investing ($149M), buybacks ($106M), taxes on employees’ shares ($28.4M); besides operations, cash came from shares issued ($3K); the cash balance fell by $45.0M.

Operating cash flow was −$15.1M against net income of $34.4M — -0.4× profit, less cash than reported earnings, worth checking against working capital. The largest differences: receivables −$57.4M, depreciation & amortization +$15.0M, stock-based pay +$13.9M.

Its cash conversion cycle was 49 days (receivables 45 + inventory 51 − payables 48).

Free cash flow

Netscout Systems: free cash flow by quarterNetscout Systems: free cash flow by quarter$39.6MQ3 FY25$140MQ4 FY25$71.7MQ1 FY26$4.4MQ2 FY26$59.3MQ3 FY26$150MQ4 FY26$47.3MQ1 FY27−$15.8MQ2 FY27
Operating cash flow less capital spending.
Netscout Systems: operating cash flow against capital spendingNetscout Systems: operating cash flow against capital spendingOperating cash flowCapital spending$41.5M$1.9MQ3 FY25$142M$1.4MQ4 FY25$73.6M$1.9MQ1 FY26$6.7M$2.2MQ2 FY26$62.1M$2.8MQ3 FY26$152M$2.2MQ4 FY26$50.8M$3.5MQ1 FY27−$15.1M$642KQ2 FY27
Latest (Q2 FY27): Operating cash flow −$15.1M, Capital spending $642K.

Capital allocation, year by year

Netscout Systems: where the cash came from (up) and went (down), by fiscal yearNetscout Systems: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksFY22: Operating cash flow $296MFY22: Net borrowing −$350MFY22: Shares issued $2KFY22: Capital spending −$10.3MFY22: Buybacks −$35.7M$296MFY22FY23: Operating cash flow $157MFY23: Net borrowing −$250MFY23: Shares issued $2KFY23: Capital spending −$10.5MFY23: Buybacks −$150M$157MFY23FY24: Operating cash flow $58.8MFY24: Shares issued $3KFY24: Asset sales $7.8MFY24: Capital spending −$6.4MFY24: Buybacks −$50.0M$66.6MFY24FY25: Operating cash flow $218MFY25: Net borrowing −$100MFY25: Shares issued $3KFY25: Capital spending −$5.4MFY25: Buybacks −$25.3M$218MFY25FY26: Operating cash flow $295MFY26: Shares issued $2KFY26: Capital spending −$9.1MFY26: Buybacks −$60.8M$295MFY26
Over these 5 years operating cash flow totalled $1.0B; the largest uses were net borrowing ($700M) and buybacks ($322M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$438M
Debtnone
Net cash$438M

Netscout Systems funds itself: free cash flow was $241M over the last twelve months, with $438M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Netscout Systems: sources (+) and uses (−) of cash, Q2 FY27Netscout Systems: sources (+) and uses (−) of cash, Q2 FY27Cash drawn (+) / kept (−)$114MBuybacks−$77.0MOther investing−$19.7MOperating cash flow−$15.1MTaxes on employees’ shares−$2.3MCapital spending−$642KExchange rates$266KShares issued$1K
Netscout Systems: sources (+) and uses (−) of cash, TTM to Q2 FY27Netscout Systems: sources (+) and uses (−) of cash, TTM to Q2 FY27Operating cash flow$250MOther investing−$149MBuybacks−$106MCash drawn (+) / kept (−)$45.0MTaxes on employees’ shares−$28.4MCapital spending−$9.1MExchange rates−$2.0MShares issued$3K

From profit to cash

Netscout Systems: net income to operating cash flow, Q2 FY27Netscout Systems: net income to operating cash flow, Q2 FY27Net income$34.4MDepreciation & amortization$15.0MStock-based pay$13.9MDeferred taxes−$4.5MGains on disposals$23KReceivables−$57.4MInventory−$6.0MPayables−$6.7MEmployee-related liabilities$11.5MDeferred revenue−$11.7MPrepaid and other assets−$3.0MIncome taxes payable$5KOperating cash flow−$15.1M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 FY2745514849
Q1 FY2750354837
Q4 FY2686264270
Q3 FY2667253260
Q2 FY2647273043
Q1 FY2662273456
Q4 FY2583273179
Q3 FY2561302764

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 FY27−$15.1M−$642K—−$77.0M—$1K$114M−$15.8M
Q1 FY27$50.8M−$3.5M−$55.0M——$2K$33.7M$47.3M
Q4 FY26$152M−$2.2M—−$29.2M——−$45.9M$150M
Q3 FY26$62.1M−$2.8M—−$1K——−$57.3M$59.3M
Q2 FY26$6.7M−$2.2M—−$16.6M—$1K$6.2M$4.4M
Q1 FY26$73.6M−$1.9M—−$15.0M—$1K−$32.2M$71.7M
Q4 FY25$142M−$1.4M——−$75.0M$1K−$59.1M$140M
Q3 FY25$41.5M−$1.9M——−$75.0M—−$35.0M$39.6M

Netscout Systems: income statement and cash flow

Netscout Systems, Q2 FY27: revenue $222M (+1% year over year), operating margin 16.9%. The chart follows the revenue to costs, profit and cash.

Netscout Systems: 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.