Free cash flow remains deeply negative, highlighted by a $16.7 million outflow in 2025Q3 that significantly exceeds the reported $5.1 million net loss.
| Cash from Operations | -18.87M | 2.47M | -13.91M | -14.45M | -10.81M | -1.25M | -1.57M | -221.05K |
| Operating CF Margin % | - | 34.81% | -170.2% | -256.47% | -2080.06% | -2385.51% | -15064.89% | - |
| Operating CF Growth % | -902.67% | 117.78% | 3.77% | -33.66% | -764.24% | 20.22% | -609.51% | - |
| Net Income | -10.55M | -10.24M | -18.1M | -34.02M | -34.86M | -3.83M | -7.3M | -1.46M |
| Depreciation & Amortization | 592.94K | 651.65K | 1.27M | 3.31M | 3.21M | 808.15K | 7.56K | 0 |
| Stock-Based Compensation | 131.99K | 804.73K | 3.97M | 8.3M | 25.89M | 1.03M | 2.57M | 0 |
| Deferred Taxes | 53.03K | 91.51K | -149.86K | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 1.22M | 812.58K | 614.13K | 3.51M | 847.31K | 100.78K | 2.81M | 814.01K |
| Working Capital Changes | -10.39M | 10.35M | -1.51M | 4.45M | -5.9M | 640.74K | 344.14K | 425.83K |
| Change in Receivables | -612.77K | 1.21K | -167.31K | 148.64K | -50.69K | 8.87K | -3.86K | 0 |
| Change in Inventory | 82.52K | 178.94K | 550.67K | -85.52K | -221.07K | -5.43K | -139 | 0 |
| Change in Payables | 713.36K | 1.46M | 412.85K | -862.22K | 207.65K | 3.47K | 11.64K | 0 |
| Cash from Investing | -24.1K | -29.96K | -340.25K | 177.39K | -246.84K | 0 | -92.31K | 0 |
| Capital Expenditures | -24.1K | -29.96K | -219.21K | -566.27K | -46.84K | 0 | -30.93K | 0 |
| CapEx % of Revenue | 0.33% | 0.42% | 2.68% | 10.05% | 9.01% | - | 297.06% | - |
| Acquisitions | 0 | 0 | 22.74K | 823.66K | 0 | 0 | -59.66K | 0 |
| Investments | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | -143.77K | -80K | 0 | 0 | -1.73K | 0 |
| Cash from Financing | 21.34M | 1.48M | -785.52K | 10.18M | 33.82M | 1.21M | 1.32M | 1.16M |
| Debt Issued (Net) | 3.9M | 89.7K | 0 | -632.88K | -151.48K | 0 | 0 | 0 |
| Equity Issued (Net) | 17.44M | 1.39M | -785.52K | 10.82M | 33.98M | 1.21M | 1.32M | 1.16M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | -785.52K | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Change in Cash | 2.33M | 3.96M | -15.28M | -4.26M | 22.76M | -99.83K | -332.08K | 938.57K |
| Free Cash Flow | -18.89M | 2.44M | -14.27M | -15.02M | -10.86M | -1.25M | -1.6M | -221.05K |
| FCF Margin % | -261.42% | 34.39% | -174.64% | -266.52% | -2089.07% | -2385.51% | -15378.52% | - |
| FCF Growth % | -255.68% | 117.12% | 4.99% | -38.3% | -767.98% | 21.85% | -624.28% | - |
| FCF per Share | -3.29 | 0.82 | -7.39 | -9.22 | -17.25 | -2.69 | -3.95 | -0.69 |
| FCF Conversion (FCF/Net Income) | 1.79x | -0.24x | 0.77x | 0.43x | 0.31x | 0.33x | 0.21x | 0.08x |
| Interest Paid | 110.33K | 151.52K | 235 | 0 | 110 | 0 | 0 | 0 |
| Taxes Paid | 16.42K | 40.06K | 7.22K | 0 | 0 | 0 | 0 | 0 |
Insufficient Operational Runway
As reported in recent financial statements, the company's operating cash flow frequently diverges from net income, with a 2025Q3 operating cash outflow of $16.7 million against a $5.1 million net loss, suggesting that accruals and working capital swings are masking the true underlying cash burn.
The persistent gap between net income and operating cash flow indicates that the company's reported earnings are not translating into liquidity. Investors should monitor this disconnect, as it suggests that the business model relies on aggressive accounting or unsustainable working capital management to bridge the gap between operational losses and cash requirements.
Based on the company's quarterly filings, the free cash flow trajectory has turned increasingly negative, culminating in a $16.7 million outflow in 2025Q3, which highlights a fundamental inability to generate self-sustaining cash flow despite the company's ongoing efforts to scale its various e-commerce and POS platforms.
The consistent negative free cash flow margins suggest that the company is effectively subsidizing its growth through external capital rather than operational success. This trend warrants further investigation into whether the current cost structure can ever reach a break-even point without significant, potentially dilutive, capital injections.
According to historical cash flow data, working capital changes have become a primary source of volatility, including a $12.8 million outflow in 2025Q3, which indicates that the company is struggling to manage its cash conversion cycle effectively across its disparate e-commerce and merchant-facing business units.
The erratic nature of these working capital swings suggests that the company may be facing challenges in collecting receivables or managing inventory levels efficiently. Such instability in the cash conversion cycle often points to operational friction that could further exacerbate the firm's already precarious liquidity position.
As indicated by the provided financial data, the cash flow statement reveals that stock-based compensation and other non-cash adjustments have historically been used to manage the optics of the company's burn rate, potentially obscuring the true economic cost of maintaining its current operational footprint.
The reliance on non-cash adjustments to reconcile the cash flow statement suggests that the company's operational reality is more strained than the headline figures might imply. Analysts should be cautious of these adjustments, as they may mask the underlying difficulty in achieving a sustainable, cash-generative business model.
Quick answers to the most common questions about buying SOPA stock.
Society Pass Incorporated (SOPA) generated $2.5M in net cash from operating activities in 2024. This reflects the cash generated directly from core business operations.
Society Pass Incorporated (SOPA) generated $2.4M in free cash flow in 2024. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
Society Pass Incorporated (SOPA) spent $0.0M on capital expenditures in 2024. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.