Liquidity is under pressure as free cash flow swung from a positive $8.1 million in 2023Q4 to a negative $945.4 thousand in 2025Q2, reflecting poor cash conversion efficiency.
| Cash from Operations | 3.08M | -2.24M | 23.57M | -12.85M | -1.9M | 2.85M |
| Operating CF Margin % | - | -1.74% | 15.82% | -8.85% | -1.62% | 3.99% |
| Operating CF Growth % | 8.56% | -109.52% | 283.45% | -577.02% | -166.7% | - |
| Net Income | 2.34M | -7.42M | 9.75M | 7.9M | 8.7M | 5.94M |
| Depreciation & Amortization | 716.66K | 836.69K | 880.42K | 417.55K | 125.6K | 107.7K |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 0 | -2.34M | -1.12M | -609.51K | -705.55K | 0 |
| Other Non-Cash Items | -3.17M | 6.93M | 11.99K | 31.2K | 0 | -827.32K |
| Working Capital Changes | 3.2M | -259.75K | 14.05M | -20.59M | -10.01M | -2.38M |
| Change in Receivables | -2.19M | -2.19M | 7.95M | -10.94M | -5.16M | 1.26M |
| Change in Inventory | 6.12M | 6.12M | 1.11M | -8.95M | -4.02M | -2.38M |
| Change in Payables | 0 | -1.19M | 2.81M | -2.32M | 2.92M | 75.98K |
| Cash from Investing | 426.36K | -52.74K | 253.66K | -1.11M | 53.12K | -380.17K |
| Capital Expenditures | -75.02K | -71.06K | -455.42K | -195.64K | -174.9K | -154.39K |
| CapEx % of Revenue | 0.07% | 0.06% | 0.31% | 0.13% | 0.15% | 0.22% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - |
| Other Investing | 501.38K | 18.31K | 709.09K | -911.64K | 228.02K | -225.78K |
| Cash from Financing | -5.64M | 4.04M | -16.22M | 12.94M | 4.5M | -1.31M |
| Debt Issued (Net) | 0 | 4.96M | -12.63M | 15.62M | 7.28M | -1.31M |
| Equity Issued (Net) | 0 | -865.5K | -3.53M | 4.5M | -148.97K | 0 |
| Dividends Paid | -57.87K | -57.67K | -57.48K | -6.95M | -2.63M | 0 |
| Share Repurchases | 0 | -865.5K | -432.75K | 0 | 0 | 0 |
| Other Financing | -5.58M | 0 | 0 | -225.38K | 0 | 0 |
| Net Change in Cash | 0 | 2M | 7.55M | -946.6K | 2.41M | 1.28M |
| Free Cash Flow | 3M | -2.32M | 23.12M | -13.05M | -2.07M | 2.69M |
| FCF Margin % | 2.66% | -1.8% | 15.52% | -8.98% | -1.77% | 3.78% |
| FCF Growth % | -66.74% | -110.02% | 277.21% | -529.33% | -177.03% | - |
| FCF per Share | 0.06 | -0.06 | 0.59 | -0.35 | -0.05 | 0.06 |
| FCF Conversion (FCF/Net Income) | 1.28x | 0.30x | 2.42x | -1.63x | -0.22x | 0.48x |
| Interest Paid | 79.54K | 246.8K | 848.13K | 619.54K | 787.77K | 313.39K |
| Taxes Paid | 0 | 2.72M | 483.36K | 1.21M | 1.07M | 2M |
Inventory and revenue volatility
As reported in recent financial filings, Able View's operating cash flow to net income ratio has frequently dipped into negative territory, reaching -0.55 in 2025Q2, which suggests that reported accounting profits are not being effectively converted into the liquid cash necessary to sustain ongoing operations.
The persistent divergence between net income and operating cash flow indicates that the company's earnings quality is compromised by non-cash accruals or timing mismatches in revenue recognition. Investors should monitor whether this gap reflects aggressive revenue booking or simply the inherent difficulty of collecting payments in a distribution-heavy model.
Based on the company's quarterly statements, free cash flow has exhibited extreme volatility, swinging from a positive $8.1 million in 2023Q4 to a negative $945.4 thousand in 2025Q2, highlighting a precarious trajectory that leaves little room for error in managing working capital requirements.
The inability to maintain consistent positive free cash flow suggests that the business model is highly sensitive to seasonal demand and inventory turnover cycles. This erratic performance may indicate that the company is struggling to scale its operations profitably while simultaneously managing the cash-intensive nature of its distribution activities.
According to historical data, working capital changes have been the primary driver of cash flow fluctuations, with a significant $4.3 million inflow observed in 2023Q4, suggesting that the company's cash position is heavily dependent on the timing of inventory liquidation and the collection of trade receivables.
The reliance on working capital management to generate cash flow implies that the company's core operations are not yet self-sustaining. Any disruption in the speed of inventory turnover or a delay in customer payments could rapidly deplete the company's cash reserves, given the current negative operating cash flow trends.
As indicated by recent disclosures, Able View has continued to prioritize small dividend payments and share repurchases despite negative operating cash flow, with $432.8 thousand spent on buybacks in 2024Q2, a practice that warrants further investigation given the company's current lack of consistent internal cash generation.
Returning capital to shareholders while the business is experiencing revenue contraction and negative operating cash flow may suggest a disconnect between management's capital allocation strategy and the underlying operational reality. Investors should consider whether these outflows are sustainable or if they represent an inefficient use of the company's limited cash cushion.
Quick answers to the most common questions about buying ABLV stock.
Able View Inc. (ABLV) generated $-2.2M in net cash from operating activities in 2024. This reflects the cash generated directly from core business operations.
Able View Inc. (ABLV) reported negative free cash flow of $2.3M in 2024, indicating capital requirements exceeded cash from operations.
Able View Inc. (ABLV) spent $0.1M on capital expenditures in 2024. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2024, Able View Inc. (ABLV) returned $0.1M to shareholders via cash dividends and spent $0.9M on share repurchases. This shows the company's commitment to returning capital to its equity investors.