Free cash flow remains deeply negative at -$1.7 million for the most recent period, highlighting a chronic inability to fund operations through internal cash generation.
| Cash from Operations | -2.26M | -1.52M | 2.26M | 1.6M | -31.21M | -3.39M | 9.36M | -7.33M |
| Operating CF Margin % | -397.37% | -243.62% | 245.11% | 66.31% | -797.97% | -28.49% | 52.47% | -45.34% |
| Operating CF Growth % | -48.71% | -167.29% | 41.09% | 105.13% | -819.87% | -136.24% | 227.83% | - |
| Net Income | -12.02M | -26.87M | -1.85M | -23.74M | -6.75M | 6.94M | 11.17M | 9.19M |
| Depreciation & Amortization | 379.29K | 345.37K | 392.62K | 900.24K | 1.02M | 542.01K | 751.41K | 36.14K |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 108.64K | -18.53K | -46.03K |
| Other Non-Cash Items | 8.08M | 23.2M | 273.07K | 20.44M | 5M | 1.32M | 1.63M | 636.54K |
| Working Capital Changes | 1.3M | 1.8M | 3.44M | 4M | -30.48M | -12.31M | -4.17M | -17.15M |
| Change in Receivables | -1.76M | -892.4K | 5.82M | 1.2M | 6.07M | -12.46M | 2.98M | -29.47M |
| Change in Inventory | 0 | 0 | 0 | 0 | -11.06M | 378.68K | -4.32M | -3.97M |
| Change in Payables | 1.55M | 1.41M | -6.32M | -2.44M | -23.77M | -2.73M | 5.09M | 9.26M |
| Cash from Investing | 1.83M | 1.19M | -6.31M | -3.78M | -6.41M | 1.24M | -1.59M | -684.7K |
| Capital Expenditures | -2.64K | -479.76K | -30.11K | -1.53M | -4.86M | -1.01K | -1.58M | -684.7K |
| CapEx % of Revenue | 0.46% | 76.87% | 3.27% | 63.26% | 124.35% | 0.01% | 8.85% | 4.24% |
| Acquisitions | 779.13K | 0 | -2.55M | 222.92K | -1.55M | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - |
| Other Investing | -2.05K | -4.42K | -1.41K | 1.64M | -2.92M | 1.25M | -7.44K | -586.28K |
| Cash from Financing | 15.3K | -1.53M | 847.35K | 295.76K | 36.09M | 772.37K | 2.06M | 650.82K |
| Debt Issued (Net) | 15.3K | -1.53M | 847.35K | 1.48M | -2.26M | 1.19M | 4.31M | 650.82K |
| Equity Issued (Net) | 0 | 0 | 0 | 0 | 40.52M | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | -1.19M | -2.17M | 0 | -4.05M | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | -1.8M | 0 |
| Other Financing | 0 | 0 | 0 | 0 | 0 | -422.46K | 1.8M | 0 |
| Net Change in Cash | -214.68K | -1.84M | -3.36M | -2.2M | -1.39M | -744.69K | 9.77M | -7.55M |
| Free Cash Flow | -2.26M | -2.01M | 2.23M | 73.6K | -36.08M | -3.39M | 7.79M | -8.01M |
| FCF Margin % | -397.83% | -321.43% | 241.84% | 3.05% | -922.33% | -28.5% | 43.62% | -49.58% |
| FCF Growth % | -12.84% | -189.98% | 2928.85% | 100.2% | -962.91% | -143.6% | 197.19% | - |
| FCF per Share | -1.48 | -1.31 | 1.45 | 0.05 | -24.72 | -3.19 | 5.40 | -5.83 |
| FCF Conversion (FCF/Net Income) | 0.19x | 0.06x | -1.22x | -0.07x | 4.63x | -0.49x | 0.84x | -0.80x |
| Interest Paid | 0 | 69.23K | 0 | 0 | 0 | 0 | 28.75K | 210.34K |
| Taxes Paid | 0 | 0 | 0 | 2.16K | 0 | 0 | 252.88K | 182.94K |
Terminal cash flow depletion
According to historical financial data, BAOS exhibits a chronic inability to convert net income into operating cash flow, with the most recent period showing a net loss of $7.8 million alongside a negative operating cash flow of $1.7 million, highlighting a fundamental breakdown in earnings quality.
The consistent divergence between reported net losses and operating cash outflows suggests that the company's accounting results are not capturing the full extent of its cash-based operational distress. Investors should note that the lack of positive conversion indicates that the business is not generating sufficient internal liquidity to cover its basic operating requirements.
As reported in recent filings, the company's free cash flow trajectory remains firmly in negative territory, with a $1.7 million outflow in the latest quarter, confirming that the business model is currently incapable of self-funding its operations or achieving a sustainable path toward positive cash generation.
The persistent negative free cash flow margins suggest that the company is consuming its remaining capital reserves at an alarming rate. This trend warrants further investigation into how much longer the current cash position can support the existing cost structure before external financing or liquidation becomes necessary.
Based on the provided cash flow statements, BAOS has experienced erratic working capital swings, including a $1.8 million inflow in 2024Q4, which appears to be a temporary distortion rather than a sign of improved operational efficiency in managing receivables or payables within the Chinese advertising market.
These fluctuations in working capital suggest that the company may be relying on aggressive collection cycles or delayed payments to vendors to manage its immediate liquidity needs. Such practices often indicate underlying stress in the client base and may not be sustainable over the long term.
As indicated by the company's financial statements, capital deployment has been characterized by sporadic acquisition activity, such as the $779.1K outflow in 2025Q4, which appears disconnected from the company's core operational struggles and raises questions regarding the efficacy of management's capital allocation strategy during a period of decline.
The use of limited cash reserves for acquisitions while the core business is burning cash suggests a potential misallocation of resources. Investors should monitor whether these deployments are intended to pivot the business or if they represent a final attempt to acquire scale in a failing operational environment.
Quick answers to the most common questions about buying BAOS stock.
Baosheng Media Group Holdings Limited (BAOS) generated $-2.3M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Baosheng Media Group Holdings Limited (BAOS) reported negative free cash flow of $2.3M in 2025, indicating capital requirements exceeded cash from operations.
Baosheng Media Group Holdings Limited (BAOS) spent $0.0M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.