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TechTarget 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 · $7.7M over twelve months

Operating cash flow−$4.8M
Capital spending−$348K
Free cash flow−$5.2M
Cash conversion cycle29 days

Analysis

In Q3 2026, TechTarget generated −$4.8M of operating cash flow and spent $348K on capital projects, leaving free cash flow of −$5.2M. That is $4.1M more than in Q3 2025 (−$9.3M).

Over the twelve months to Sep 30, 2026, operating cash flow was $10.2M; the largest uses were other investing ($17.3M), capital spending ($2.6M), acquisitions ($1.5M); the cash balance fell by $11.0M.

Operating cash flow was −$4.8M against net income of −$18.2M. The largest differences: depreciation & amortization +$25.9M, receivables −$9.7M, payables −$3.4M.

Its cash conversion cycle was 29 days (receivables 58 + inventory 0 − payables 29).

Free cash flow

TechTarget: free cash flow by quarterTechTarget: free cash flow by quarter−$29.3MQ4 2024$12.2MQ1 2025$1.4MQ2 2025−$9.3MQ3 2025$11.6MQ4 2025−$110KQ1 2026$1.3MQ2 2026−$5.2MQ3 2026
Operating cash flow less capital spending.
TechTarget: operating cash flow against capital spendingTechTarget: operating cash flow against capital spendingOperating cash flowCapital spending−$29.2M$118KQ4 2024$12.2M$30KQ1 2025$1.5M$51KQ2 2025−$9.1M$131KQ3 2025$11.8M$175KQ4 2025−$57K$53KQ1 2026$3.4M$2.0MQ2 2026−$4.8M$348KQ3 2026
Latest (Q3 2026): Operating cash flow −$4.8M, Capital spending $348K.

Capital allocation, year by year

TechTarget: where the cash came from (up) and went (down), by fiscal yearTechTarget: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingCapital spendingAcquisitionsFY2022: Operating cash flow $28.1MFY2022: Net borrowing −$42.6MFY2022: Capital spending −$413KFY2022: Acquisitions −$351M$28.1MFY2022FY2023: Operating cash flow −$12.5MFY2023: Capital spending −$2.6MFY2023: Acquisitions −$47.8MFY2023FY2024: Operating cash flow −$64.9MFY2024: Net borrowing −$213KFY2024: Capital spending −$420KFY2024: Acquisitions −$72.3MFY2024FY2025: Operating cash flow $16.3MFY2025: Net borrowing −$417MFY2025: Capital spending −$387KFY2025: Acquisitions −$1.4M$16.3MFY2025
Over these 4 years operating cash flow totalled −$33.0M; the largest uses were acquisitions ($473M) and net borrowing ($460M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$35.3M
Debtnone
Net cash$35.3M
Cash runway21 months

TechTarget is burning cash: its operations consume cash, a free cash flow of −$20.6M a year at the current rate against $35.3M of cash and investments: a runway of about 21 months before any new financing.

Where the cash came from and went

TechTarget: sources (+) and uses (−) of cash, Q3 2026TechTarget: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)$10.5MOther investing−$5.5MOperating cash flow−$4.8MCapital spending−$348KShares issued−$114KOther financing$114KExchange rates$103K
TechTarget: sources (+) and uses (−) of cash, TTM to Q3 2026TechTarget: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing−$17.3MCash drawn (+) / kept (−)$11.0MOperating cash flow$10.2MCapital spending−$2.6MAcquisitions−$1.5MExchange rates$322KTaxes on employees’ shares−$86KOther financing−$42K

From profit to cash

TechTarget: net income to operating cash flow, Q3 2026TechTarget: net income to operating cash flow, Q3 2026Net income−$18.2MDepreciation & amortization$25.9MStock-based pay$2.5MDeferred taxes−$1.1MGains on disposals$61KReceivables−$9.7MPayables−$3.4MAccrued liabilities$1.3MEmployee-related liabilities−$850KDeferred revenue−$821KPrepaid and other assets−$331KIncome taxes payable−$323KOperating cash flow−$4.8M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202658—2929
Q2 202654—2727
Q1 202664—3232
Q4 202554—2628
Q3 202560—1743
Q2 202555—1738
Q1 202564—2044

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026−$4.8M−$348K——−$114K$10.5M−$5.2M
Q2 2026$3.4M−$2.0M———$1.9M$1.3M
Q1 2026−$57K−$53K−$1.5M——−$7.1M−$110K
Q4 2025$11.8M−$175K———$5.7M$11.6M
Q3 2025−$9.1M−$131K−$1.4M——$15.4M−$9.3M
Q2 2025$1.5M−$51K———$16.9M$1.4M
Q1 2025$12.2M−$30K—−$417M—$197M$12.2M
Q4 2024−$29.2M−$118K−$72.3M——−$254M−$29.3M

TechTarget: income statement and cash flow

TechTarget, Q3 2026: revenue $119M (-2% year over year), operating margin -12.8%. The chart follows the revenue to costs, profit and cash.

TechTarget: 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.