Operational strain is highlighted by a persistent disconnect between earnings and cash generation, with OCF/NI ratios frequently oscillating between -0.09 and 0.04, reflecting an ongoing reliance on external financing to cover negative free cash flow.
| Cash from Operations | -777.32K | -47.36M | -3.88M | 17.06K | -14.14M | -421.32K | -1.04M |
| Operating CF Margin % | - | -60.65% | -9.38% | 0.04% | -39.83% | - | -3.32% |
| Operating CF Growth % | 33.19% | -1120.08% | -22849.76% | 100.12% | -3256.69% | 59.42% | - |
| Net Income | -6.32M | -63.55M | -15.81M | -61.02M | -17.79M | 941.64K | -6.75M |
| Depreciation & Amortization | 0 | 6.3M | 3.22M | 3.79M | 952.54K | 0 | 668.62K |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 0 | 1.77M | 654.99K | 876.93K | 340K | 0 | 638.97K |
| Other Non-Cash Items | 5.4M | -1.63M | 2.95M | 36.79M | 5.17M | -1.52M | 919.82K |
| Working Capital Changes | 134K | 9.75M | 5.11M | 19.58M | -2.82M | 155K | 3.48M |
| Change in Receivables | 0 | -8.42M | 5.1M | -4.2M | -4.23M | 0 | -2.64M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 157K | -296.21K | -317.88K | 22.34M | 1.25M | 155K | 5.29M |
| Cash from Investing | -1M | -1.04M | -1.31M | -12.58M | -1.49M | -100M | -995.92K |
| Capital Expenditures | 0 | -1.29M | -1.31M | -11.16M | -1.34M | 0 | -995.92K |
| CapEx % of Revenue | - | 1.66% | 3.17% | 23.02% | 3.78% | - | 3.19% |
| Acquisitions | 0 | 0 | 0 | -350K | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Financing | 968.52K | 56.31M | 8.31M | 15.04M | 10.65M | 101.13M | 2.53M |
| Debt Issued (Net) | 968.52K | 11.84M | 4.77M | -11.39M | 10.65M | 0 | 2.53M |
| Equity Issued (Net) | 0 | 1.03M | 0 | 30.43M | 0 | 101.13M | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 0 | 43.44M | 3.54M | -4M | 0 | 0 | 0 |
| Net Change in Cash | -808.8K | 7.91M | 3.12M | 2.47M | -59.91K | -553.16K | 1.26M |
| Free Cash Flow | -777.32K | -47.41M | -3.98M | 17.06K | -14.31M | -421.32K | -1.08M |
| FCF Margin % | - | -60.71% | -9.62% | 0.04% | -40.29% | - | -3.46% |
| FCF Growth % | - | -1091.03% | -23431.3% | 100.12% | -3295.59% | 61% | - |
| FCF per Share | -0.15 | -8.23 | -0.75 | 0.00 | -2.78 | -0.08 | -0.21 |
| FCF Conversion (FCF/Net Income) | 0.12x | 0.75x | 0.25x | -0.00x | 0.80x | -0.45x | 0.15x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Persistent negative operating cash
According to historical financial data, Anghami exhibits a persistent disconnect between reported net income and operating cash flow, with OCF/NI ratios frequently oscillating between -0.09 and 0.04, suggesting that accounting profits are not translating into the liquidity required to sustain the company's core streaming operations.
The lack of alignment between net income and cash generation implies that reported earnings may be heavily influenced by non-cash items or accounting adjustments rather than actual cash inflows. Investors should monitor this divergence closely, as it suggests the business model currently struggles to convert its top-line growth into tangible cash resources.
As reported in financial statements, Anghami has consistently generated negative free cash flow, with quarterly outflows ranging from $105.8K to $315.4K, indicating that the company remains in a cash-burning phase that necessitates ongoing external financing to support its current operational and content acquisition strategy.
The persistent negative FCF trajectory highlights the difficulty of achieving self-sustaining operations within the current competitive landscape. This trend suggests that without a fundamental shift in unit economics or a significant reduction in content-related cash outflows, the company may continue to face liquidity pressure.
Based on reported figures, working capital changes have shown significant volatility, fluctuating between -$26.0K and $154.0K, which reflects the inherent instability in managing cash cycles within the regional streaming market and the potential impact of timing differences in collections from telecommunications partners.
These fluctuations suggest that the company's cash position is highly sensitive to the timing of payments and receipts from its distribution partners. Such variability warrants further investigation into the efficiency of the company's collection processes and its ability to manage liquidity during periods of uneven cash inflows.
Analysis of the cash flow statement reveals that the company's reported figures may obscure the true extent of cash burn, as minimal depreciation and amortization are recorded, suggesting that significant content costs may be flowing directly through the income statement rather than being capitalized and amortized.
The absence of meaningful D&A relative to the scale of operations may indicate that the company is expensing content acquisition costs immediately, which exacerbates the reported cash burn. This accounting treatment appears to mask the long-term nature of these investments and complicates the assessment of the company's true underlying profitability.
Quick answers to the most common questions about buying ANGH stock.
Anghami Inc. (ANGH) generated $-47.4M in net cash from operating activities in 2024. This reflects the cash generated directly from core business operations.
Anghami Inc. (ANGH) reported negative free cash flow of $47.4M in 2024, indicating capital requirements exceeded cash from operations.
Anghami Inc. (ANGH) spent $1.3M on capital expenditures in 2024. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.