Operational cash flow remains severely constrained, as evidenced by a consistent failure to generate positive free cash flow, with margins hitting -150.2% in 2024Q2.
| Cash from Operations | -30.52M | -25.94M | -40.43M | -82.69M | -174.51M | -51.98M |
| Operating CF Margin % | - | -119.96% | -88.77% | -173.43% | -660.81% | -1420.14% |
| Operating CF Growth % | -177.61% | 35.85% | 51.11% | 52.61% | -235.74% | - |
| Net Income | -121.73M | -174.54M | -298.76M | -195.59M | -773.55M | -75.4M |
| Depreciation & Amortization | 22.89K | 0 | 30.47M | 25.47M | 9.11M | 1.88M |
| Stock-Based Compensation | 39.86M | 88.77M | 6.03M | 5.67M | 481.76M | 13.34M |
| Deferred Taxes | 0 | 0 | -16.8M | -480K | 0 | 0 |
| Other Non-Cash Items | 40.8M | 36.92M | 148.49M | 26.39M | 108.8M | 12.78M |
| Working Capital Changes | 17.63M | 22.91M | 90.13M | 55.86M | -629K | -4.58M |
| Change in Receivables | -2.41M | -1.06M | -260K | 2.23M | -156K | -2.15M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 25.01M | 29.99M | 28.68M | 34.33M | 0 | 0 |
| Cash from Investing | 2.22M | 1.52M | -3.56M | -12.05M | -43.62M | -7.04M |
| Capital Expenditures | 0 | 0 | -29K | -120K | -195K | -548K |
| CapEx % of Revenue | 0% | - | 0.06% | 0.25% | 0.74% | 14.97% |
| Acquisitions | 0 | 0 | 0 | -8.02M | -33.63M | 187K |
| Investments | - | - | - | - | - | - |
| Other Investing | 2.22M | 1.52M | -3.54M | -3.92M | -9.79M | -6.68M |
| Cash from Financing | 22.06M | 19.61M | 42.26M | 61.9M | 235.08M | 74.07M |
| Debt Issued (Net) | 17.1M | 19.61M | 41.73M | 63.23M | 10.06M | 1.57M |
| Equity Issued (Net) | 4.96M | 1K | 11.19M | 25.11M | -13M | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | -13M | 0 |
| Other Financing | 0 | 0 | -10.66M | -26.43M | 238.02M | 72.5M |
| Net Change in Cash | -5.74M | -4.65M | -1.91M | -32.8M | 17.19M | 19.36M |
| Free Cash Flow | -30.52M | -25.94M | -44M | -86.73M | -174.7M | -52.52M |
| FCF Margin % | -150.78% | -119.96% | -96.6% | -181.89% | -661.55% | -1435.11% |
| FCF Growth % | 3.7% | 41.04% | 49.27% | 50.36% | -232.61% | - |
| FCF per Share | -1.55 | -1.44 | -3.51 | -8.04 | -19.17 | -4.57 |
| FCF Conversion (FCF/Net Income) | 0.25x | 0.15x | 0.14x | 0.43x | 0.23x | 0.69x |
| Interest Paid | 0 | 895K | 185K | 3.43M | 0 | 0 |
| Taxes Paid | 112K | 0 | 95K | 144K | 0 | 0 |
Imminent liquidity and solvency risk
According to the provided financial data, the OCF/NI ratio has remained consistently low, peaking at 0.39 in 2025Q1, which suggests that reported net losses are significantly decoupled from actual cash outflows, likely due to substantial non-cash adjustments and stock-based compensation expenses.
The persistent gap between net income and operating cash flow indicates that the company's accounting losses are not fully reflective of the cash burn occurring within the business. Investors should monitor whether these accruals represent sustainable operational efficiencies or merely accounting artifacts that obscure the underlying cash-negative reality of the platform.
As reported in historical filings, Triller Group has failed to generate positive free cash flow in any of the last eight quarters, with FCF margins reaching as low as -150.2% in 2024Q2, signaling a structural inability to fund operations through internal cash generation.
The consistent negative FCF trajectory confirms that the company remains entirely dependent on external financing to sustain its current business model. This trend appears to be worsening as revenue contracts, suggesting that the firm lacks the necessary scale to achieve self-sustaining cash flow in the near term.
Based on the quarterly cash flow statements, working capital changes have been highly erratic, swinging from a $70.9M outflow in 2024Q1 to a $63.3M inflow in 2023Q4, which indicates significant instability in the company's ability to manage its short-term assets and liabilities effectively.
Such extreme volatility in working capital suggests that the company may be aggressively managing payables or timing collections to artificially stabilize cash positions. This behavior warrants further investigation, as it may mask underlying liquidity pressures and the difficulty of maintaining a predictable cash conversion cycle.
Data from recent quarters reveals that stock-based compensation, such as the $28.8M recorded in 2025Q1, frequently offsets reported net losses, effectively hiding the true economic cost of talent retention from the cash flow statement.
By relying heavily on equity-based incentives, the company avoids immediate cash outflows but significantly dilutes existing shareholders to maintain its operations. This practice appears to be a primary mechanism for survival, yet it fails to address the fundamental lack of cash-generating capability within the core business.
Quick answers to the most common questions about buying ILLR stock.
Triller Group Inc. (ILLR) generated $-25.9M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Triller Group Inc. (ILLR) reported negative free cash flow of $25.9M in 2025, indicating capital requirements exceeded cash from operations.
Triller Group Inc. (ILLR) 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.