Free cash flow has deteriorated rapidly, shifting from marginal positive territory to a significant $10.9 million outflow in 2026Q2, largely driven by volatile working capital requirements.
| Cash from Operations | -10.43M | 428.47K | -9.52K | 36.51K |
| Operating CF Margin % | - | 42.28% | -0.74% | 76.05% |
| Operating CF Growth % | -18514.45% | 4602.14% | -126.07% | - |
| Net Income | -2.06M | -452.45K | 33.35K | 29.91K |
| Depreciation & Amortization | 20.02K | 185 | 0 | 0 |
| Stock-Based Compensation | 0 | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 380.53K | 45.09K | 97.17K | 0 |
| Working Capital Changes | -8.71M | 835.64K | -140.03K | 6.6K |
| Change in Receivables | -299.13K | -96.94K | -158.96K | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 |
| Change in Payables | 153.58K | 0 | 0 | 0 |
| Cash from Investing | -29.51K | -2.22K | 0 | 0 |
| Capital Expenditures | -29.51K | -2.22K | 0 | 0 |
| CapEx % of Revenue | 1.34% | 0.22% | - | - |
| Acquisitions | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 |
| Cash from Financing | 18.94M | -161.01K | -39.41K | 13.4K |
| Debt Issued (Net) | -265.98K | 265.75K | -10.18K | -9.93K |
| Equity Issued (Net) | 19.5M | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 |
| Other Financing | -295.75K | -426.76K | -29.23K | 23.33K |
| Net Change in Cash | 8.35M | 265.24K | -48.93K | 49.9K |
| Free Cash Flow | -10.46M | 426.25K | -9.52K | 36.51K |
| FCF Margin % | -476.5% | 42.06% | -0.74% | 76.05% |
| FCF Growth % | - | 4578.86% | -126.07% | - |
| FCF per Share | -0.48 | 0.02 | -0.00 | 0.00 |
| FCF Conversion (FCF/Net Income) | 5.08x | -0.95x | -0.29x | 1.22x |
| Interest Paid | 74 | 148 | 468 | 723 |
| Taxes Paid | 0 | 0 | 0 | 0 |
Liquidity and solvency risk
According to recent financial disclosures, FTRK's operating cash flow frequently diverges from net income, evidenced by a 2026Q2 OCF/NI ratio of 5.64, which suggests that reported earnings are failing to capture the significant cash outflows required to sustain the company's current project-based operational model.
The massive gap between net income and operating cash flow indicates that the company is struggling to convert its accounting results into actual liquidity. This divergence suggests that the firm's accrual-based earnings are masking a much more difficult cash reality, where cash is being consumed at a rate far exceeding the reported bottom-line losses.
As reported in financial statements, FTRK's free cash flow has shifted from marginal positive territory in 2025 to a significant outflow of $10.9 million in 2026Q2, highlighting a rapid deterioration in the company's ability to generate self-sustaining cash from its core entertainment and agency activities.
The sharp decline in FCF margins suggests that the business model is becoming increasingly capital-intensive without a corresponding increase in revenue stability. Investors should monitor whether this trend reflects a permanent shift in the cost of securing talent or merely a temporary spike in event-related cash requirements.
Based on the company's reported figures, working capital changes have become a primary driver of cash volatility, with a $9.1 million outflow in 2026Q2 alone, indicating that the firm's reliance on upfront deposits for events is creating significant pressure on its limited cash reserves.
The erratic nature of these working capital swings suggests that FTRK lacks the scale to manage its payables and receivables efficiently. This instability implies that the company is highly vulnerable to timing mismatches between event expenditures and the eventual collection of ticket or sponsorship revenue.
Data indicates that FTRK's capital intensity remains extremely low, with CapEx/Revenue ratios often near 0.2%, suggesting that the firm is not investing in proprietary infrastructure or technology to differentiate its service offering from larger, better-capitalized regional competitors in the entertainment space.
While low capital intensity might appear positive, it likely reflects a lack of investment in the assets necessary to build a sustainable competitive moat. This strategy appears to leave the company reliant on third-party venues and talent, which may ultimately limit its long-term pricing power and operational flexibility.
Quick answers to the most common questions about buying FTRK stock.
Fast Track Group (FTRK) generated $0.4M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Fast Track Group (FTRK) generated $0.4M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
Fast Track Group (FTRK) 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.