Free cash flow remains anemic with margins consistently near 0.1% to 0.2%, highlighting a fundamental inability to generate surplus cash after core operational requirements.
| Cash from Operations | 253.37K | -32.99M | -122.16M | -4.99M | 194.96M | -17.13M | -158.94M | -45.6M | -11.44M |
| Operating CF Margin % | - | -14.28% | -35.91% | -1.55% | 61.54% | -4.43% | -24.24% | -15.25% | -9.5% |
| Operating CF Growth % | -88.65% | 73% | -2348.65% | -102.56% | 1238.46% | 89.23% | -248.56% | -298.44% | - |
| Net Income | -90.64M | -140.79M | -89.98M | 21.94M | -89.57M | -280.23M | -850.44M | -80.57M | 5.09M |
| Depreciation & Amortization | 0 | 10.15M | 0 | 1.92M | 2.66M | 5.6M | 4.23M | 1.6M | 487K |
| Stock-Based Compensation | 4.67M | -178K | 4.67M | 13.89M | 15.02M | 39.28M | 91.17M | 5.11M | 4.89M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 85.31M | 98.33M | 47.25M | -77.44M | 24.89M | 99.92M | 959.94M | 142.61M | 27.59M |
| Working Capital Changes | 0 | -508K | -84.1M | 34.7M | 241.96M | 118.32M | -363.83M | -114.36M | -49.5M |
| Change in Receivables | 0 | 24.8M | -38.14M | 6.95M | 241.47M | 108.16M | -365.77M | -121.54M | -60.8M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 0 | 712K | 6.91M | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | 0 | 32.48M | 20.17M | 43.31M | -158M | -64.29M | 9.88M | -56.29M | -105.89M |
| Capital Expenditures | 0 | -444K | -5.4M | -1.66M | -2.18M | -2.35M | -4.78M | -16.68M | -392K |
| CapEx % of Revenue | 0% | 0.19% | 1.59% | 0.51% | 0.69% | 0.61% | 0.73% | 5.58% | 0.33% |
| Acquisitions | 0 | 1.27M | 0 | -1.71M | -433K | -431K | -46.27M | 273K | -3.5M |
| Investments | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 15.94M | 69.67M | 8.15M | -154.31M | 0 | 0 | -273K | -105.5M |
| Cash from Financing | 0 | -3.61M | 481K | 5.12M | -23K | -32.84M | 278.34M | 104.72M | 162.98M |
| Debt Issued (Net) | 0 | 50K | 0 | 4.95M | 5M | 0 | -217K | -979K | 979K |
| Equity Issued (Net) | 0 | 0 | 0 | 0 | -1000K | -1000K | 1000K | 1000K | 1000K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | -5.78M | -33.37M | -2.33M | 0 | 0 |
| Other Financing | 0 | -3.66M | 481K | 174K | 757K | 528K | 2.09M | 0 | 10M |
| Net Change in Cash | -6.94M | -3.88M | -101.15M | 45.65M | 36.12M | -117.03M | 128.91M | 3.33M | 162.98M |
| Free Cash Flow | 253.37K | -33.48M | -127.56M | -6.64M | 192.78M | -19.48M | -163.71M | -62.27M | -11.84M |
| FCF Margin % | 0.07% | -14.49% | -37.5% | -2.06% | 60.86% | -5.04% | -24.97% | -20.82% | -9.82% |
| FCF Growth % | -99.58% | 73.76% | -1819.65% | -103.45% | 1089.89% | 88.1% | -162.9% | -426.13% | - |
| FCF per Share | 0.15 | -20.06 | -76.43 | -3.98 | 117.54 | -11.94 | -100.50 | -41.52 | -25.46 |
| FCF Conversion (FCF/Net Income) | -0.00x | 0.24x | 1.36x | -0.23x | -2.18x | 0.06x | 6.13x | -1.15x | -1.44x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 78K | 92K | 6K |
| Taxes Paid | 0 | 206K | 93K | 171K | 306K | 13.57M | 17.54M | 11.94M | 313K |
Liquidity and operational runway
As reported in financial filings, the persistent gap between net losses and operating cash flow suggests that KRKR's accounting earnings are heavily impacted by non-cash items, with operating cash flow frequently hovering near zero despite significant quarterly net losses exceeding $18 million in recent periods.
The lack of meaningful operating cash flow generation relative to net income indicates that the company's core business model is struggling to convert service delivery into actual liquidity. Investors should monitor whether this divergence is driven by aggressive revenue recognition or an inability to collect on receivables from a distressed startup client base.
Based on the provided quarterly data, KRKR's free cash flow trajectory is essentially stagnant, with margins consistently near 0.1% to 0.2% in recent quarters, highlighting a fundamental inability to generate surplus cash after accounting for the minimal capital expenditures required to maintain its digital platform.
The absence of a positive, growing free cash flow trend suggests that the company is currently unable to self-fund its operations. This lack of cash generation capacity forces a reliance on existing cash reserves, which may be insufficient to support long-term strategic pivots in a tightening economic environment.
According to historical cash flow statements, KRKR's capital deployment has been characterized by significant share repurchases, such as the $276.5 million outflow in 2022Q4, which appears disconnected from the company's underlying operational performance and its persistent inability to generate consistent, positive free cash flow from core activities.
Prioritizing share repurchases while the company reports deep net losses and minimal operating cash flow raises questions regarding management's capital allocation priorities. Such actions may have prematurely depleted liquidity that could have been better utilized to stabilize the business or fund necessary technological upgrades.
As evidenced by the quarterly cash flow data, stock-based compensation consistently adds millions to the company's reported figures, effectively masking the true extent of the cash burn required to retain the specialized talent necessary for maintaining KRKR's B2B service platform and editorial operations.
The reliance on stock-based compensation as a primary tool for talent retention suggests that the company is attempting to preserve cash at the expense of shareholder dilution. This practice warrants further investigation into whether the current compensation structure is sustainable if the company's market valuation continues to face downward pressure.
Quick answers to the most common questions about buying KRKR stock.
36Kr Holdings Inc. (KRKR) generated $-33.0M in net cash from operating activities in 2024. This reflects the cash generated directly from core business operations.
36Kr Holdings Inc. (KRKR) reported negative free cash flow of $33.5M in 2024, indicating capital requirements exceeded cash from operations.
36Kr Holdings Inc. (KRKR) spent $0.4M on capital expenditures in 2024. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.