Operating cash flow remains disconnected from accounting results, with a $706.7K cash outflow in 2025Q4 despite reported net income of $2.2M.
| Cash from Operations | -2.93M | -6.99M | -7.16M | -4.12M | -3.99M |
| Operating CF Margin % | -15.53% | -11.98% | -11.61% | -9.24% | -17.92% |
| Operating CF Growth % | 58.13% | 2.42% | -73.9% | -3.07% | - |
| Net Income | -5.43M | -6.78M | -5.16M | -6.7M | -8.17M |
| Depreciation & Amortization | 1.66M | 1.73M | 1.33M | 437.31K | 178.07K |
| Stock-Based Compensation | 0 | 630K | 0 | 1.27M | 1.97M |
| Deferred Taxes | 0 | 0 | 0 | -780.33K | 0 |
| Other Non-Cash Items | -710.67K | -513.83K | 648.82K | 191.38K | 249.75K |
| Working Capital Changes | 1.56M | -2.06M | -3.98M | 1.47M | 1.77M |
| Change in Receivables | 2.03M | 5.81M | -8.11M | -2.63M | -104 |
| Change in Inventory | 154.09K | 615.49K | 368.95K | -385.6K | -381.94K |
| Change in Payables | -1.63M | -4.96M | 5.56M | 3.69M | 1.08M |
| Cash from Investing | -204.12K | -944.37K | -4.59M | -1.14M | -615.77K |
| Capital Expenditures | -633.45K | -347.9K | -1.59M | -1.14M | -615.77K |
| CapEx % of Revenue | 3.36% | 0.6% | 2.58% | 2.56% | 2.76% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - |
| Other Investing | 429.33K | -596.47K | -3M | 0 | 0 |
| Cash from Financing | 2.39M | 6.34M | 15.53M | 5.35M | 968.94K |
| Debt Issued (Net) | -295.33K | 1.3M | -14.74K | 4.31M | 960.51K |
| Equity Issued (Net) | 2.68M | 5.04M | 15.54M | 300K | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 0 | 0 | 0 | 741.13K | 8.43K |
| Net Change in Cash | -1.09M | -1.25M | 3.84M | 15.12K | -3.72M |
| Free Cash Flow | -3.01M | -7.93M | -8.75M | -5.26M | -4.61M |
| FCF Margin % | -15.98% | -13.6% | -14.18% | -11.8% | -20.68% |
| FCF Growth % | 62.05% | 9.35% | -66.44% | -14.01% | - |
| FCF per Share | -2.09 | -0.16 | -0.17 | -0.11 | -0.09 |
| FCF Conversion (FCF/Net Income) | 0.35x | 1.06x | 1.39x | 0.62x | 0.50x |
| Interest Paid | 0 | 467.63K | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 |
Liquidity and scale collapse
As reported in recent financial filings, WBUY's operating cash flow frequently diverges from net income, with the 2025Q4 period showing a net income of $2.2M against a negative operating cash flow of $706.7K, highlighting a persistent inability to convert accounting profits into actual liquidity.
The consistent failure to generate positive operating cash flow despite occasional net income spikes suggests that reported earnings are heavily influenced by non-cash items or accounting adjustments rather than operational success. Investors should monitor this disconnect as it indicates that the company's core business activities are not yet self-sustaining.
Based on historical cash flow statements, WBUY has consistently burned cash, with free cash flow margins remaining deeply negative throughout the observed period, including a -8.1% margin in 2025Q4, which underscores the structural difficulty in achieving a self-funding business model within the current retail framework.
The persistent negative free cash flow trajectory suggests that the company is reliant on external financing or balance sheet depletion to fund its ongoing operations. This trend warrants further investigation into whether the recent revenue contraction is a strategic attempt to stem these losses or a symptom of terminal decline.
According to quarterly data, WBUY's working capital changes have been highly erratic, swinging from a $6.2M outflow in 2023Q4 to a $1.5M inflow in 2025Q4, which suggests that the company's cash position is heavily dependent on the timing of payables and inventory management rather than organic growth.
The reliance on working capital fluctuations to manage cash flow indicates a lack of operational stability and potentially aggressive management of supplier relationships. Such volatility may imply that the company is struggling to maintain consistent inventory turnover or is delaying payments to preserve its limited cash reserves.
As indicated by the provided financial statements, WBUY's capital expenditure relative to revenue reached 6.5% in 2025Q4, a significant increase that suggests the company is still forced to invest in infrastructure despite a shrinking revenue base and persistent operating losses.
This level of capital intensity appears disproportionate for a business model that has yet to demonstrate a clear path to profitability. The ongoing investment in assets, despite the 67.7% revenue decline, may indicate that the company is struggling to optimize its existing footprint or is over-investing in underperforming logistics infrastructure.
Quick answers to the most common questions about buying WBUY stock.
WEBUY GLOBAL Ltd. Ordinary Shares (WBUY) generated $-2.9M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
WEBUY GLOBAL Ltd. Ordinary Shares (WBUY) reported negative free cash flow of $3.0M in 2025, indicating capital requirements exceeded cash from operations.
WEBUY GLOBAL Ltd. Ordinary Shares (WBUY) spent $0.6M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.