Akso Health Group (AHG) Cash Flow Statement
Where AHG’s cash came from and went, FY2026
March 31, 2026 · U.S. dollars- Cash from operations
- −$12.8M −1,186.6% vs FY2025
- Capital expenditures
- $175.7M 1,270.0% of revenue
- Free cash flow
- −$188.5M −1,362.5% margin
- Returned to shareholders
- —
- Change in cash
- −$176.1M cash at year-end $170,572
Drawn to scale: where the cash came from and how it was used. Hover for values.
AHG operating cash flow, capex and free cash flow
AHG cash flow trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $8.2MFY2017 | −$12.8MFY2026 | — | |
| Capital expenditures | $287,765FY2017 | $175.7MFY2026 | +103.9%/yr | |
| Free cash flow | $7.9MFY2017 | −$188.5MFY2026 | — | |
| Free cash flow margin | 34.5%FY2017 | −1,362.5%FY2026 | −1,397.0 pts | |
| Operating cash flow / net income | 0.96FY2017 | −0.31FY2019 | −1.27 | |
| Stock-based compensation | $1.8MFY2018 | $0FY2024 | −100.0% | |
| Dividends paid | $19.5MFY2018 | $0FY2021 | −100.0% | |
| Share buybacks (net) | $1.3MFY2019 | $0FY2022 | −100.0% | |
| Capex / revenue | 1.3%FY2017 | 1,270.0%FY2026 | +1,268.8 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
AHG cash flow by activity
AHG net income vs operating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
AHG cash flow statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | −$18.7M | −$135.5M | −$9.1M | −$13.1M | −$16.8M | −$34.7M | −$71.2M | $5.5M | $65.5M | $8.6M |
| Depreciation & amortization | $2.4M | $2.1M | $0 | $18,390 | $18,390 | $15,161 | $580,503 | $406,799 | $174,384 | $92,224 |
| Stock-based compensation | — | — | $0 | $391,625 | $391,625 | $55,468 | $347,466 | $6.6M | $1.8M | — |
| Change in working capital | −$11.3M | $3.0M | $2.1M | −$1.2M | −$2.6M | $21.1M | −$30.9M | −$15.3M | $20.3M | −$608,985 |
| Other non-cash items | $14.9M | $131.5M | $8.4M | $10.6M | $10.4M | $23.6M | $45.3M | $1.1M | −$110,291 | $135,641 |
| Cash from operating activities | −$12.8M | $1.2M | $1.4M | −$3.3M | −$8.6M | $10.1M | −$55.9M | −$1.7M | $87.7M | $8.2M |
| Investing activities | ||||||||||
| Capital expenditures | −$175.7M | −$154,460 | $0 | −$4,861 | −$4,861 | −$4,861 | −$314,520 | −$944,813 | −$456,030 | −$287,765 |
| Investments (net) | — | −$105.9M | −$54.7M | $18.5M | −$20.0M | −$662 | −$14.6M | −$16.5M | −$16.5M | — |
| Acquisitions & other investing | $12.2M | $154,460 | $0 | $4,861 | $4,861 | $4,861 | $27.7M | −$50.7M | −$10.7M | $0 |
| Cash from investing activities | −$163.5M | −$105.9M | −$54.7M | $18.5M | −$20.0M | −$662 | $12.8M | −$68.1M | −$27.6M | −$287,765 |
| Financing activities | ||||||||||
| Dividends paid | — | — | — | — | — | $0 | $0 | −$19.5M | −$19.5M | — |
| Share repurchases & issuance (net) | — | — | — | — | $0 | $0 | −$2.7M | −$1.3M | — | — |
| Net borrowing (repayment) | $350,000 | $0 | −$7.7M | −$27.5M | $24.8M | −$9.1M | −$6.7M | $71.4M | $71.4M | — |
| Shares issued | $0 | $195.9M | $139.3M | $0 | $10.0M | $0 | $0 | $0 | $0 | $0 |
| Other financing | $0 | $0 | $0 | $0 | $0 | $36,940 | $5.4M | −$50.6M | −$4.4M | $4.3M |
| Cash from financing activities | $350,000 | $195.9M | $131.7M | −$27.5M | $34.8M | −$9.0M | −$4.0M | −$29,377 | $47.5M | $4.3M |
| Summary | ||||||||||
| Net change in cash | −$176.1M | $90.0M | $77.0M | −$12.7M | $6.8M | $4.2M | −$46.4M | −$75.3M | $113.4M | $11.4M |
| Cash at end of period | $170,572 | $176.2M | $86.2M | $9.2M | $21.9M | $15.1M | $10.9M | $57.4M | $132.6M | $19.2M |
| Free cash flow | −$188.5M | $1.0M | $1.4M | −$3.3M | −$8.6M | $10.1M | −$56.2M | −$2.7M | $87.3M | $7.9M |
| Free cash flow margin | −1,362.5% | 6.9% | 56.0% | −24.7% | −136.8% | 573.2% | −812.5% | −4.4% | 81.4% | 34.5% |
| Capex / revenue | 1,270.0% | 1.0% | 0.0% | 0.0% | 0.1% | 0.3% | 4.5% | 1.5% | 0.4% | 1.3% |
| Operating cash flow / net income | — | — | — | — | — | — | — | −0.31 | 1.34 | 0.96 |
| Jun '26 | Dec '25 | Jun '25 | Dec '24 | Jun '24 | Dec '23 | Jun '23 | Dec '22 | Sep '22 | Jun '22 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | −$18.7M | −$8.7M | −$637,851 | −$67.2M | −$293,316 | −$3.0M | −$1.7M | −$1.1M | $405,169 | $405,169 |
| Depreciation & amortization | $573,618 | $573,618 | $612,190 | $1.1M | $8,468 | — | — | $13,835 | $6,918 | $6,918 |
| Change in working capital | −$11.4M | −$4.8M | $1.8M | $398,390 | −$4.0M | $590,789 | $255,043 | −$536,458 | −$505,303 | −$505,303 |
| Other non-cash items | $16.7M | $5.9M | −$1.2M | $68.7M | $1.9M | $3.0M | $1.6M | $648,142 | −$573,842 | −$573,842 |
| Cash from operating activities | −$12.8M | −$7.0M | $616,242 | $3.0M | −$2.4M | $554,452 | $121,168 | −$959,612 | −$667,058 | −$667,058 |
| Investing activities | ||||||||||
| Capital expenditures | −$1,638 | −$87.8M | −$87.8M | −$12,141 | −$65,088 | $0 | $0 | $0 | $0 | $0 |
| Acquisitions & other investing | −$163.5M | $89.3M | $4.6M | −$24.8M | −$28.1M | −$28.1M | $764,459 | −$764,459 | $10.0M | $10.0M |
| Cash from investing activities | −$163.5M | $1.5M | −$83.2M | −$24.8M | −$28.2M | −$28.1M | $764,459 | −$764,459 | $10.0M | $10.0M |
| Financing activities | ||||||||||
| Net borrowing (repayment) | — | — | — | — | — | — | — | — | −$13.8M | −$13.8M |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | $350,000 | $175,000 | $64.3M | $64.3M | $33.6M | $65.7M | $175,000 | $1 | $0 | $0 |
| Cash from financing activities | $350,000 | $175,000 | $64.3M | $64.3M | $33.6M | $65.7M | $175,000 | $1 | −$13.8M | −$13.8M |
| Summary | ||||||||||
| Net change in cash | −$176.1M | — | — | — | $76.0M | $37.4M | $1.2M | −$11.9M | −$6.0M | −$6.0M |
| Cash at end of period | $170,572 | $176.2M | — | — | $85.2M | $37.4M | $1.2M | $10.0M | −$6.0M | −$6.0M |
| Free cash flow | −$12.8M | $80.8M | −$87.2M | $3.0M | −$2.5M | $554,452 | $121,168 | −$959,612 | −$667,058 | −$667,058 |
| Free cash flow margin | −374.4% | 2,365.5% | −2,492.4% | 76.5% | −71.8% | 72.9% | 27.1% | −144.9% | −11.3% | −11.3% |
| Capex / revenue | 0.0% | 2,570.7% | 2,510.0% | 0.3% | 1.9% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Operating cash flow / net income | — | — | — | — | — | — | — | — | −1.65 | −1.65 |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported; data from EODHD.
AHG cash generation
In fiscal 2026 (ended March 31, 2026), Akso Health generated -$12.8 million of cash from operations (down 1,186.6%) and spent $175.7 million on capital expenditures, leaving free cash flow of -$188.5 million, −1,362.5% of revenue. Cash and equivalents fell by $176.1 million over the year.
Related: AHG income statement, AHG balance sheet. See the AHG stock overview for the latest quote and news.
AHG cash flow FAQ
What is Akso Health's free cash flow?
Akso Health's free cash flow was -$188.5 million in fiscal 2026: -$12.8 million of operating cash flow minus $175.7 million of capital expenditures It was $1.0 million a year earlier..
How much cash does Akso Health generate from operations?
Akso Health generated -$12.8 million of cash from operating activities in fiscal 2026.
How much does Akso Health spend on capital expenditures?
Akso Health spent $175.7 million on capital expenditures in fiscal 2026, 1,270.0% of revenue, compared with $0.2 million the year before.