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Netsol Technologies cash flow, quarter by quarter

Latest: Q4 FY26 · from the cash-flow statements filed with the SEC

Free cash flow$14.0M in Q4 FY26

Operating cash flow$14.7M
Capital spending−$628K
Free cash flow+$14.0M
Cash / net income3.2×
Cash conversion cycle45 days

Analysis

In Q4 FY26, Netsol Technologies generated $14.7M of operating cash flow and spent $628K on capital projects, leaving free cash flow of $14.0M. That is $14.1M more than in Q4 FY25 (−$44K).

Operating cash flow was $14.7M against net income of $4.5M — 3.2× profit, cash ran ahead of reported earnings. The largest differences: receivables +$6.4M, contract assets +$2.2M, payables +$632K.

Its cash conversion cycle was 45 days (receivables 59 + inventory 0 − payables 14).

Free cash flow

Netsol Technologies: free cash flow by quarterNetsol Technologies: free cash flow by quarter$5.4MQ1 FY25−$5.6MQ2 FY25−$693KQ3 FY25−$44KQ4 FY25$4.8MQ1 FY26−$5.1MQ2 FY26−$1.9MQ3 FY26$14.0MQ4 FY26
Operating cash flow less capital spending.
Netsol Technologies: operating cash flow against capital spendingNetsol Technologies: operating cash flow against capital spendingOperating cash flowCapital spending$5.5M$101KQ1 FY25−$5.1M$467KQ2 FY25−$363K$330KQ3 FY25$441K$485KQ4 FY25$5.3M$485KQ1 FY26−$4.7M$371KQ2 FY26−$1.3M$523KQ3 FY26$14.7M$628KQ4 FY26
Latest (Q4 FY26): Operating cash flow $14.7M, Capital spending $628K.

Capital allocation, year by year

Netsol Technologies: where the cash came from (up) and went (down), by fiscal yearNetsol Technologies: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY22: Operating cash flow $3.1MFY22: Net borrowing −$1.3MFY22: Asset sales $349KFY22: Capital spending −$2.6MFY22: Buybacks −$100K$3.4MFY22FY23: Operating cash flow $2.0MFY23: Net borrowing −$928KFY23: Asset sales $240KFY23: Capital spending −$1.6MFY23: Buybacks −$61K$2.2MFY23FY24: Operating cash flow $2.9MFY24: Net borrowing −$517KFY24: Asset sales $224KFY24: Capital spending −$515K$3.1MFY24FY25: Operating cash flow $447KFY25: Net borrowing −$774KFY25: Shares issued $473KFY25: Asset sales $117KFY25: Capital spending −$1.4MFY25: Acquisitions −$9KFY25: Buybacks −$1.5M$1.0MFY25FY26: Operating cash flow $13.9MFY26: Asset sales $87KFY26: Capital spending −$2.0M$14.0MFY26
Over these 5 years operating cash flow totalled $22.3M; the largest uses were capital spending ($8.2M) and net borrowing ($3.5M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$27.1M
Debt$354K
Net cash$26.8M
Due within a year$146K

Netsol Technologies funds itself: free cash flow was — over the last twelve months, and $27.1M of cash and investments stands against $354K of debt ($146K due within a year, 185.7× covered by cash).

Netsol Technologies: debt maturities by year (FY26)Netsol Technologies: debt maturities by year (FY26)$146KYear 1$163KYear 2$45KYear 3
Principal due in each year as disclosed in the annual report, against $27.1M of cash and investments now.

Where the cash came from and went

Netsol Technologies: sources (+) and uses (−) of cash, Q4 FY26Netsol Technologies: sources (+) and uses (−) of cash, Q4 FY26Operating cash flow$14.7MCash drawn (+) / kept (−)−$12.4MOther investing−$1.6MCapital spending−$628KNet borrowing (+) / repaid (−)−$95KExchange rates$84KOther financing−$6KAsset & business sales$1K

From profit to cash

Netsol Technologies: net income to operating cash flow, Q4 FY26Netsol Technologies: net income to operating cash flow, Q4 FY26Net income$4.5MDepreciation & amortization$307KStock-based pay$491KReceivables$6.4MPayables$632KContract assets$2.2MPrepaid and other assets$41KOperating cash flow$14.7M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q4 FY2659—1445
Q3 FY2652—1042
Q2 FY2632—1022
Q1 FY2640—1129
Q4 FY2530—1219
Q3 FY2529—1119
Q2 FY2535—1322
Q1 FY2557—1741

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q4 FY26$14.7M−$628K—−$95K—−$12.4M$14.0M
Q3 FY26−$1.3M−$523K—−$668K—$3.4M−$1.9M
Q2 FY26−$4.7M−$371K—−$310K—$4.6M−$5.1M
Q1 FY26$5.3M−$485K—−$115K—−$5.3M$4.8M
Q4 FY25$441K−$485K—−$526K—$1.4M−$44K
Q3 FY25−$363K−$330K—−$85K$43K$2.5M−$693K
Q2 FY25−$5.1M−$467K−$1K−$44K$408K$3.3M−$5.6M
Q1 FY25$5.5M−$101K−$8K−$118K$22K−$5.4M$5.4M

Netsol Technologies: income statement and cash flow

Netsol Technologies, Q4 FY26: revenue $20.7M (+6% year over year), operating margin 21.6%. The chart follows the revenue to costs, profit and cash.

Netsol Technologies: 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.