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Openlane cash flow, quarter by quarter

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

Free cash flow$83.3M in Q3 2026

Operating cash flow$97.1M
Capital spending−$13.8M
Free cash flow+$83.3M
Cash / net income2.2×
Cash conversion cycle-176 days

Analysis

In Q3 2026, Openlane generated $97.1M of operating cash flow and spent $13.8M on capital projects, leaving free cash flow of $83.3M. That is $25.7M more than in Q3 2025 ($57.6M).

Operating cash flow was $97.1M against net income of $44.7M — 2.2× profit, cash ran ahead of reported earnings. The largest differences: payables +$41.0M, receivables −$30.1M, depreciation & amortization +$21.5M.

Its cash conversion cycle was -176 days (receivables 66 + inventory 0 − payables 242): suppliers fund its working capital.

Free cash flow

Openlane: free cash flow by quarterOpenlane: free cash flow by quarter$18.7MQ4 2024$111MQ1 2025$57.4MQ2 2025$57.6MQ3 2025$111MQ4 2025$146MQ1 2026$39.0MQ2 2026$83.3MQ3 2026
Operating cash flow less capital spending.
Openlane: operating cash flow against capital spendingOpenlane: operating cash flow against capital spendingOperating cash flowCapital spending$32.7M$14.0MQ4 2024$123M$11.9MQ1 2025$71.6M$14.2MQ2 2025$72.2M$14.6MQ3 2025$126M$14.7MQ4 2025$160M$13.1MQ1 2026$52.8M$13.8MQ2 2026$97.1M$13.8MQ3 2026
Latest (Q3 2026): Operating cash flow $97.1M, Capital spending $13.8M.

Capital allocation, year by year

Openlane: where the cash came from (up) and went (down), by fiscal yearOpenlane: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $234MFY2021: Net borrowing −$23.1MFY2021: Shares issued $1.5MFY2021: Asset sales $2.2MFY2021: Capital spending −$64.2MFY2021: Acquisitions −$522MFY2021: Buybacks −$181M$238MFY2021FY2022: Operating cash flow $4.1MFY2022: Net borrowing −$791MFY2022: Shares issued $1.4MFY2022: Asset sales $39.8MFY2022: Capital spending −$60.9MFY2022: Acquisitions −$400KFY2022: Buybacks −$182M$45.3MFY2022FY2023: Operating cash flow $237MFY2023: Net borrowing $4.0MFY2023: Shares issued $2.7MFY2023: Asset sales $300KFY2023: Capital spending −$52.0MFY2023: Acquisitions −$103MFY2023: Buybacks −$22.2M$244MFY2023FY2024: Operating cash flow $293MFY2024: Net borrowing −$133MFY2024: Shares issued $1.4MFY2024: Asset sales $80.7MFY2024: Capital spending −$53.0MFY2024: Buybacks −$30.0M$375MFY2024FY2025: Operating cash flow $392MFY2025: Net borrowing $313MFY2025: Shares issued $9.6MFY2025: Asset sales $42.4MFY2025: Capital spending −$55.4MFY2025: Buybacks −$45.6M$757MFY2025
Over these 5 years operating cash flow totalled $1.2B; the largest uses were net borrowing ($946M) and acquisitions ($625M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$245M
Debt$550M
Net debt$305M
Due within a year$5.5M

Openlane funds itself: free cash flow was — over the last twelve months, and $245M of cash and investments stands against $550M of debt ($5.5M due within a year, 44.5× covered by cash).

Openlane: debt maturities by year (FY2025)Openlane: debt maturities by year (FY2025)$5.5MYear 1$5.5MYear 2$5.5MYear 3$5.5MYear 4$5.5MYear 5$522MAfter year 5
Principal due in each year as disclosed in the annual report, against $245M of cash and investments now.

Where the cash came from and went

Openlane: sources (+) and uses (−) of cash, Q3 2026Openlane: sources (+) and uses (−) of cash, Q3 2026Other financing$174MOther investing−$151MOperating cash flow$97.1MCash drawn (+) / kept (−)−$61.8MBuybacks−$43.3MCapital spending−$13.8MNet borrowing (+) / repaid (−)−$1.3MExchange rates−$1.2MShares issued$800K

From profit to cash

Openlane: net income to operating cash flow, Q3 2026Openlane: net income to operating cash flow, Q3 2026Net income$44.7MDepreciation & amortization$21.5MStock-based pay$6.7MDeferred taxes$1.6MOther non-cash$200KReceivables−$30.1MPayables$41.0MOperating cash flow$97.1M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202666—242-176
Q2 202666—253-187
Q1 202662—259-197
Q4 202562—226-164
Q3 202561—227-166
Q2 202562—242-181
Q1 202558—234-176
Q4 202455—225-170

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$97.1M−$13.8M−$43.3M−$1.3M$800K−$61.8M$83.3M
Q2 2026$52.8M−$13.8M−$22.5M−$21.0M$6.6M−$900K$39.0M
Q1 2026$160M−$13.1M−$25.7M$18.2M$3.3M−$31.5M$146M
Q4 2025$126M−$14.7M−$9.8M−$23.6M$1.8M−$39.0M$111M
Q3 2025$72.2M−$14.6M−$26.4M$22.6M$4.9M$2.4M$57.6M
Q2 2025$71.6M−$14.2M−$9.3M−$235M$800K$108M$57.4M
Q1 2025$123M−$11.9M−$100K$1.7M$2.1M−$72.8M$111M
Q4 2024$32.7M−$14.0M—−$45.3M$400K−$23.1M$18.7M

Openlane: income statement and cash flow

Openlane, Q3 2026: revenue $561M (+13% year over year), operating margin 12.5%. The chart follows the revenue to costs, profit and cash.

Openlane: 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.