Operational efficiency remains challenged as the firm recorded a $275.1K negative free cash flow in 2026Q1, highlighting a persistent reliance on trust assets to fund administrative overhead.
| Cash from Operations | -631.31K | -464.69K | -298.39K |
| Operating CF Margin % | - | - | - |
| Operating CF Growth % | -176.54% | -55.73% | - |
| Net Income | 6.32M | 6.62M | 1.04M |
| Depreciation & Amortization | 0 | 0 | 0 |
| Stock-Based Compensation | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 |
| Other Non-Cash Items | -6.92M | -7.09M | -1.18M |
| Working Capital Changes | -34.39K | 0 | -158.67K |
| Change in Receivables | 0 | 0 | -25K |
| Change in Inventory | 0 | 0 | 0 |
| Change in Payables | 49.65K | 83.63K | 0 |
| Cash from Investing | 0 | 0 | -173.36M |
| Capital Expenditures | 0 | 0 | 0 |
| CapEx % of Revenue | - | - | - |
| Acquisitions | 0 | - | - |
| Investments | 183.45M | 181.85M | 174.58M |
| Other Investing | 0 | 0 | 0 |
| Cash from Financing | 0 | 0 | 174.9M |
| Debt Issued (Net) | 0 | - | - |
| Equity Issued (Net) | 0 | 0 | 175.53M |
| Dividends Paid | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 |
| Other Financing | 0 | 0 | -305.96K |
| Net Change in Cash | -739.81K | -464.69K | 1.24M |
| Free Cash Flow | -631.31K | -464.69K | -298.39K |
| FCF Margin % | - | - | - |
| FCF Growth % | - | -55.73% | - |
| FCF per Share | -0.04 | -0.03 | -0.01 |
| FCF Conversion (FCF/Net Income) | -0.10x | -0.07x | -0.29x |
| Interest Paid | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 |
Liquidation deadline execution risk
According to recent financial filings, NTWOW reported a net income of $1.4M in 2026Q1, yet simultaneously generated negative operating cash flow of $275.1K, highlighting a significant divergence between accounting profits and the actual cash resources available for the sponsor's ongoing business combination search activities.
The persistent gap between positive net income and negative operating cash flow suggests that reported earnings are heavily influenced by non-cash valuation adjustments, likely related to warrant liabilities. Investors should interpret this as a signal that the entity's accounting profitability provides no indication of its underlying cash-burning operational reality.
As reported in financial statements, NTWOW has consistently posted negative free cash flow across nearly all observed periods, with a $275.1K outflow in 2026Q1 alone, underscoring the structural reliance on initial capital to fund administrative expenses while the search for a target continues.
The trajectory of free cash flow remains firmly negative, which is expected for a shell company but warrants monitoring as the liquidation deadline approaches. This trend suggests that the entity is consuming its limited liquidity to maintain public status, potentially reducing the net cash available for a future merger.
Based on reported figures, NTWOW experienced a working capital fluctuation of -$198.9K in 2025Q4, illustrating the erratic nature of cash movements in a shell entity that lacks recurring operational cycles or predictable trade-related cash inflows from customers or suppliers.
The absence of a stable working capital cycle confirms that these movements are likely driven by timing differences in administrative payments rather than operational efficiency. Investors should view these fluctuations as noise rather than indicators of underlying business health or improved liquidity management.
As indicated by the provided cash flow data, the entity's net income figures frequently decouple from cash reality, with the 2026Q1 net income of $1.4M failing to translate into any positive operating cash flow, effectively masking the underlying burn rate of the shell vehicle.
The cash flow statement serves as the only reliable indicator of the entity's true financial health, as the income statement is distorted by non-cash accounting entries. This divergence suggests that the sponsor's search costs are being funded by the depletion of cash reserves, a trend that may limit future flexibility.
Quick answers to the most common questions about buying NTWOW stock.
Newbury Street II Acquisition Corp (NTWOW) generated $-0.5M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Newbury Street II Acquisition Corp (NTWOW) reported negative free cash flow of $0.5M in 2025, indicating capital requirements exceeded cash from operations.
Newbury Street II Acquisition Corp (NTWOW) 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.