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Netgear cash flow, quarter by quarter

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

Free cash flow−$5.2M in Q3 2026 · −$5.4M over twelve months

Operating cash flow−$3.8M
Capital spending−$1.4M
Free cash flow−$5.2M
Cash conversion cycle193 days

Analysis

In Q3 2026, Netgear generated −$3.8M of operating cash flow and spent $1.4M on capital projects, leaving free cash flow of −$5.2M.

Over the twelve months to Sep 27, 2026, operating cash flow was $7.2M; the largest uses were buybacks ($63.0M), taxes on employees’ shares ($12.6M), capital spending ($12.6M); besides operations, cash came from other investing ($59.6M); the cash balance fell by $25.1M.

Operating cash flow was −$3.8M against net income of −$12.3M. The largest differences: stock-based pay +$9.8M, payables −$4.8M, employee-related liabilities −$4.3M.

Its cash conversion cycle was 193 days (receivables 84 + inventory 156 − payables 47).

Free cash flow

Netgear: free cash flow by quarterNetgear: free cash flow by quarter$19.0MQ4 2024−$10.1MQ1 2025−$5.3MQ2 2025−$17.1MQ3 2025$13.6MQ4 2025−$2.2MQ1 2026−$11.6MQ2 2026−$5.2MQ3 2026
Operating cash flow less capital spending.
Netgear: operating cash flow against capital spendingNetgear: operating cash flow against capital spendingOperating cash flowCapital spending$21.5M$2.5MQ4 2024−$8.7M$1.4MQ1 2025−$1.8M$3.5MQ2 2025−$7.4M$9.7MQ3 2025$19.5M$5.9MQ4 2025$1.6M$3.8MQ1 2026−$10.2M$1.5MQ2 2026−$3.8M$1.4MQ3 2026
Latest (Q3 2026): Operating cash flow −$3.8M, Capital spending $1.4M.

Capital allocation, year by year

Netgear: where the cash came from (up) and went (down), by fiscal yearNetgear: where the cash came from (up) and went (down), by fiscal yearOperating cash flowShares issuedCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow −$4.6MFY2021: Shares issued $9.6MFY2021: Capital spending −$9.9MFY2021: Buybacks −$75.0M$9.6MFY2021FY2022: Operating cash flow −$13.7MFY2022: Shares issued $743KFY2022: Capital spending −$5.8MFY2022: Buybacks −$24.4M$743KFY2022FY2023: Operating cash flow $56.9MFY2023: Capital spending −$5.8M$56.9MFY2023FY2024: Operating cash flow $165MFY2024: Shares issued $4.0MFY2024: Capital spending −$9.0MFY2024: Buybacks −$33.1M$169MFY2024FY2025: Operating cash flow $1.6MFY2025: Shares issued $5.3MFY2025: Capital spending −$20.5MFY2025: Acquisitions −$12.2MFY2025: Buybacks −$50.7M$6.9MFY2025
Over these 5 years operating cash flow totalled $205M; the largest uses were buybacks ($183M) and capital spending ($50.9M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$242M
Debtnone
Net cash$242M
Cash runwaymore than 10 years

Netgear is burning cash: its operations consume cash, a free cash flow of −$20.8M a year at the current rate against $242M of cash and investments: a runway of more than ten years at that rate before any new financing.

Where the cash came from and went

Netgear: sources (+) and uses (−) of cash, Q3 2026Netgear: sources (+) and uses (−) of cash, Q3 2026Other investing$30.0MBuybacks−$15.0MCash drawn (+) / kept (−)−$4.1MOperating cash flow−$3.8MOther financing−$3.6MTaxes on employees’ shares−$2.0MCapital spending−$1.4M
Netgear: sources (+) and uses (−) of cash, TTM to Q3 2026Netgear: sources (+) and uses (−) of cash, TTM to Q3 2026Buybacks−$63.0MOther investing$59.6MCash drawn (+) / kept (−)$25.1MTaxes on employees’ shares−$12.6MCapital spending−$12.6MOperating cash flow$7.2MOther financing−$3.6MAcquisitions−$8K

From profit to cash

Netgear: net income to operating cash flow, Q3 2026Netgear: net income to operating cash flow, Q3 2026Net income−$12.3MDepreciation & amortization$4.0MStock-based pay$9.8MDeferred taxes−$21KOther non-cash$72KReceivables−$3.5MInventory$3.5MPayables−$4.8MAccrued liabilities$310KEmployee-related liabilities−$4.3MDeferred revenue$160KPrepaid and other assets−$550KIncome taxes payable$1.1MOperating cash flow−$3.8M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20268415647193
Q2 20268015544191
Q1 20267916141199
Q4 20257814844182
Q3 20257513147159
Q2 20257713548163
Q1 20258213548169
Q4 20248512342166

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksShares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026−$3.8M−$1.4M—−$15.0M—−$4.1M−$5.2M
Q2 2026−$10.2M−$1.5M—−$12.9M—$9.2M−$11.6M
Q1 2026$1.6M−$3.8M—−$20.2M—$26.4M−$2.2M
Q4 2025$19.5M−$5.9M−$8K−$15.0M—−$6.4M$13.6M
Q3 2025−$7.4M−$9.7M—−$20.0M—$37.5M−$17.1M
Q2 2025−$1.8M−$3.5M—−$7.5M$676K$28.8M−$5.3M
Q1 2025−$8.7M−$1.4M—−$8.2M$4.6M$16.6M−$10.1M
Q4 2024$21.5M−$2.5M—−$10.2M$3.7M−$12.7M$19.0M

Netgear: income statement and cash flow

Netgear, Q3 2026: revenue $167M (-9% year over year), operating margin -8.2%. The chart follows the revenue to costs, profit and cash.

Netgear: 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.