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Stitch Fix cash flow, quarter by quarter

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

Free cash flow$4.4M in Q4 FY26

Operating cash flow$9.1M
Capital spending−$4.7M
Free cash flow+$4.4M

Analysis

In Q4 FY26, Stitch Fix generated $9.1M of operating cash flow and spent $4.7M on capital projects, leaving free cash flow of $4.4M.

Operating cash flow was $9.1M against net income of −$2.1M. The largest differences: payables −$17.7M, inventory +$15.0M, stock-based pay +$9.4M.

Free cash flow

Stitch Fix: free cash flow by quarterStitch Fix: free cash flow by quarter$9.9MQ1 FY25−$19.4MQ2 FY25$16.0MQ3 FY25$2.8MQ4 FY25$5.6MQ1 FY26$3.4MQ2 FY26$6.5MQ3 FY26$4.4MQ4 FY26
Operating cash flow less capital spending.
Stitch Fix: operating cash flow against capital spendingStitch Fix: operating cash flow against capital spendingOperating cash flowCapital spending$14.3M$4.3MQ1 FY25−$16.2M$3.2MQ2 FY25$20.5M$4.5MQ3 FY25$7.0M$4.2MQ4 FY25$10.9M$5.3MQ1 FY26$7.3M$4.0MQ2 FY26$11.8M$5.3MQ3 FY26$9.1M$4.7MQ4 FY26
Latest (Q4 FY26): Operating cash flow $9.1M, Capital spending $4.7M.

Capital allocation, year by year

Stitch Fix: where the cash came from (up) and went (down), by fiscal yearStitch Fix: where the cash came from (up) and went (down), by fiscal yearOperating cash flowShares issuedAsset salesCapital spendingBuybacksFY22: Operating cash flow $75.2MFY22: Shares issued $1.5MFY22: Capital spending −$45.0MFY22: Buybacks −$30.0M$76.8MFY22FY23: Operating cash flow $73.2MFY23: Shares issued $161KFY23: Asset sales $842KFY23: Capital spending −$18.9M$74.2MFY23FY24: Operating cash flow $28.2MFY24: Shares issued $1.0MFY24: Asset sales $350KFY24: Capital spending −$14.0M$29.6MFY24FY25: Operating cash flow $25.6MFY25: Shares issued $1.1MFY25: Capital spending −$16.3M$26.7MFY25FY26: Operating cash flow $39.1MFY26: Shares issued $1.9MFY26: Asset sales $17KFY26: Capital spending −$19.2MFY26: Buybacks −$26.4M$41.0MFY26
Over these 5 years operating cash flow totalled $241M; the largest uses were capital spending ($113M) and buybacks ($56.4M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$173M
Debtnone
Net cash$173M

Stitch Fix funds itself: free cash flow was — over the last twelve months, with $173M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Stitch Fix: sources (+) and uses (−) of cash, Q4 FY26Stitch Fix: sources (+) and uses (−) of cash, Q4 FY26Other investing$16.3MBuybacks−$11.3MOperating cash flow$9.1MCash drawn (+) / kept (−)−$8.0MCapital spending−$4.7MTaxes on employees’ shares−$2.8MShares issued$1.3M

From profit to cash

Stitch Fix: net income to operating cash flow, Q4 FY26Stitch Fix: net income to operating cash flow, Q4 FY26Net income−$2.1MDepreciation & amortization$4.7MStock-based pay$9.4MInventory$15.0MPayables−$17.7MAccrued liabilities$4.9MDeferred revenue−$1.4MPrepaid and other assets$6.4MOther liabilities−$381KOperating cash flow$9.1M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksShares issuedCash drawn (+) / kept (−)Free cash flow
Q4 FY26$9.1M−$4.7M−$11.3M$1.3M−$8.0M$4.4M
Q3 FY26$11.8M−$5.3M——$31.4M$6.5M
Q2 FY26$7.3M−$4.0M—$347K−$4.3M$3.4M
Q1 FY26$10.9M−$5.3M—$248K−$542K$5.6M
Q4 FY25$7.0M−$4.2M—$1.1M−$5.0M$2.8M
Q3 FY25$20.5M−$4.5M—$1K$4.3M$16.0M
Q2 FY25−$16.2M−$3.2M—$6K$23.9M−$19.4M
Q1 FY25$14.3M−$4.3M——$25.7M$9.9M

Stitch Fix: income statement and cash flow

Stitch Fix, Q4 FY26: revenue $324M (+4% year over year), operating margin -1.3%. The chart follows the revenue to costs, profit and cash.

Stitch Fix: 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.