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Zeta Global Holdings cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow$64.4M in Q2 2026 · $224M over twelve months

Operating cash flow$69.2M
Capital spending−$4.8M
Free cash flow+$64.4M
Cash / net income8.5×
Cash conversion cycle50 days

Analysis

In Q2 2026, Zeta Global Holdings generated $69.2M of operating cash flow and spent $4.8M on capital projects, leaving free cash flow of $64.4M. That is $24.7M more than in Q2 2025 ($39.7M).

Over the twelve months to Jun 30, 2026, operating cash flow was $241M; the largest uses were acquisitions ($140M), other financing ($112M), other investing ($22.4M); besides operations, cash came from shares issued ($4.2M); the cash balance fell by $55.4M.

Operating cash flow was $69.2M against net income of $8.2M — 8.5× profit, cash ran ahead of reported earnings. The largest differences: stock-based pay +$52.1M, depreciation & amortization +$22.7M, receivables −$6.0M.

Its cash conversion cycle was 50 days (receivables 67 + inventory 0 − payables 16).

Free cash flow

Zeta Global Holdings: free cash flow by quarterZeta Global Holdings: free cash flow by quarter$29.5MQ3 2024$35.4MQ4 2024$32.1MQ1 2025$39.7MQ2 2025$52.4MQ3 2025$60.9MQ4 2025$46.7MQ1 2026$64.4MQ2 2026
Operating cash flow less capital spending.
Zeta Global Holdings: operating cash flow against capital spendingZeta Global Holdings: operating cash flow against capital spendingOperating cash flowCapital spending$34.4M$4.9MQ3 2024$43.7M$8.3MQ4 2024$34.8M$2.7MQ1 2025$42.0M$2.3MQ2 2025$57.9M$5.5MQ3 2025$64.1M$3.3MQ4 2025$49.7M$3.0MQ1 2026$69.2M$4.8MQ2 2026
Latest (Q2 2026): Operating cash flow $69.2M, Capital spending $4.8M.

Capital allocation, year by year

Zeta Global Holdings: where the cash came from (up) and went (down), by fiscal yearZeta Global Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsFY2021: Operating cash flow $44.3MFY2021: Net borrowing $186MFY2021: Shares issued $127MFY2021: Capital spending −$9.5MFY2021: Acquisitions −$20.1M$357MFY2021FY2022: Operating cash flow $78.5MFY2022: Shares issued $199KFY2022: Capital spending −$22.2MFY2022: Acquisitions −$9.2M$78.7MFY2022FY2023: Operating cash flow $90.5MFY2023: Net borrowing −$11.2MFY2023: Shares issued $241KFY2023: Capital spending −$20.5MFY2023: Acquisitions −$18.2M$90.8MFY2023FY2024: Operating cash flow $134MFY2024: Net borrowing $5.4MFY2024: Shares issued $3.2MFY2024: Capital spending −$25.7MFY2024: Acquisitions −$55.8M$142MFY2024FY2025: Operating cash flow $199MFY2025: Net borrowing −$10.0MFY2025: Shares issued $2.2MFY2025: Capital spending −$13.8MFY2025: Acquisitions −$90.3M$201MFY2025
Over these 5 years operating cash flow totalled $546M; the largest uses were acquisitions ($194M) and capital spending ($91.7M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$310M
Debt$197M
Net cash$112M
Due within a year$10.0M

Zeta Global Holdings funds itself: free cash flow was $224M over the last twelve months, and $310M of cash and investments stands against $197M of debt ($10.0M due within a year, 31.0× covered by cash).

Zeta Global Holdings: debt maturities by year (FY2025)Zeta Global Holdings: debt maturities by year (FY2025)$10.0MYear 1$12.5MYear 2$20.0MYear 3$158MYear 4
Principal due in each year as disclosed in the annual report, against $310M of cash and investments now.

Where the cash came from and went

Zeta Global Holdings: sources (+) and uses (−) of cash, Q2 2026Zeta Global Holdings: sources (+) and uses (−) of cash, Q2 2026Operating cash flow$69.2MOther financing−$33.1MCash drawn (+) / kept (−)−$21.2MOther investing−$6.7MCapital spending−$4.8MAcquisitions−$3.8MShares issued$2.6MNet borrowing (+) / repaid (−)−$2.5MExchange rates$335K
Zeta Global Holdings: sources (+) and uses (−) of cash, TTM to Q2 2026Zeta Global Holdings: sources (+) and uses (−) of cash, TTM to Q2 2026Operating cash flow$241MAcquisitions−$140MOther financing−$112MCash drawn (+) / kept (−)$55.4MOther investing−$22.4MCapital spending−$16.6MNet borrowing (+) / repaid (−)−$10.0MShares issued$4.2MExchange rates$627K

From profit to cash

Zeta Global Holdings: net income to operating cash flow, Q2 2026Zeta Global Holdings: net income to operating cash flow, Q2 2026Net income$8.2MDepreciation & amortization$22.7MStock-based pay$52.1MOther non-cash−$846KReceivables−$6.0MPayables−$436KAccrued liabilities−$3.1MDeferred revenue−$3.2MPrepaid and other assets−$5.6MOperating cash flow$69.2M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 202667—1650
Q1 202673—2053
Q4 202569—2049
Q3 202571—2745
Q2 202570—3139
Q1 202578—3345
Q4 202464—3727
Q3 202466—4621

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026$69.2M−$4.8M−$3.8M−$2.5M$2.6M−$21.2M$64.4M
Q1 2026$49.7M−$3.0M−$47.0M−$2.5M$302K$31.0M$46.7M
Q4 2025$64.1M−$3.3M−$89.1M−$2.5M$495K$65.4M$60.9M
Q3 2025$57.9M−$5.5M—−$2.5M$777K−$19.9M$52.4M
Q2 2025$42.0M−$2.3M−$672K−$2.5M$841K−$916K$39.7M
Q1 2025$34.8M−$2.7M−$530K−$2.5M$123K$1.8M$32.1M
Q4 2024$43.7M−$8.3M−$55.8M−$1.2M$193K$52.4M$35.4M
Q3 2024$34.4M−$4.9M—$15.0M$1.1M−$264M$29.5M

Zeta Global Holdings: income statement and cash flow

Zeta Global Holdings, Q2 2026: revenue $443M (+44% year over year), operating margin 3.8%. The chart follows the revenue to costs, profit and cash.

Zeta Global Holdings: 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.