ComSovereign Holding Corp (COMS) Cash Flow Statement
Where COMS’s cash came from and went, 2023
December 31, 2023 · U.S. dollars- Cash from operations
- −$9.5M
- Capital expenditures
- $165,000 1.7% of revenue
- Free cash flow
- −$9.7M −98.1% margin
- Returned to shareholders
- $246,000
- Change in cash
- −$5,000 cash at year-end $1.9M
Drawn to scale: where the cash came from and how it was used. Hover for values.
COMS operating cash flow, capex and free cash flow
COMS cash flow trends, 2014–2023
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −$1.3M2014 | −$9.5M2023 | — | |
| Capital expenditures | $27,8632014 | $165,0002023 | +21.9%/yr | |
| Free cash flow | −$1.3M2014 | −$9.7M2023 | — | |
| Free cash flow margin | −155.0%2014 | −98.1%2023 | +56.9 pts | |
| Stock-based compensation | $5.9M2015 | $983,0002023 | −20.1%/yr | |
| Dividends paid | $168,0002019 | $246,0002023 | +10.0%/yr | |
| Share buybacks (net) | $350,0002014 | $02022 | −100.0% | |
| Capex / revenue | 3.2%2014 | 1.7%2023 | −1.6 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
COMS cash flow by activity
COMS 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).
COMS cash flow statement
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | −$79.7M | −$153.0M | −$153.2M | −$37.1M | −$27.5M | −$8.5M | −$10.3M | −$8.5M | −$9.0M | −$2.1M |
| Depreciation & amortization | $2.0M | $14.8M | $15.9M | $12.5M | $7.7M | $329,984 | $328,723 | $204,122 | $57,890 | $2,477 |
| Stock-based compensation | $983,000 | $3.3M | $3.3M | $713,000 | $258,256 | $4.7M | $6.6M | $5.6M | $5.9M | — |
| Change in working capital | $6.7M | −$16.3M | −$16.3M | $8.4M | −$6.7M | $435,585 | −$193,702 | −$470,674 | $33,036 | $51,336 |
| Other non-cash items | $60.5M | $111.7M | $110.8M | $9.5M | $19.4M | $575,408 | $260,143 | −$346,143 | $84,263 | $767,398 |
| Cash from operating activities | −$9.5M | −$39.5M | −$39.5M | −$6.0M | −$6.9M | −$2.4M | −$3.3M | −$3.6M | −$2.9M | −$1.3M |
| Investing activities | ||||||||||
| Capital expenditures | −$165,000 | −$3.1M | −$3.1M | −$176,697 | −$87,038 | −$5,279 | −$73,817 | −$16,336 | −$329,227 | −$27,863 |
| Investments (net) | — | $14.9M | −$9.5M | −$3.3M | $2.8M | $54,721 | −$73,817 | −$16,336 | — | — |
| Acquisitions & other investing | $15.1M | −$21.3M | $3.1M | $176,697 | $87,038 | $5,279 | $73,817 | $16,336 | $0 | $1.6M |
| Cash from investing activities | $14.9M | −$9.5M | −$9.5M | −$3.3M | $2.8M | $54,721 | −$73,817 | −$16,336 | −$329,227 | $1.5M |
| Financing activities | ||||||||||
| Dividends paid | −$246,000 | −$168,000 | −$168,000 | −$168,000 | −$168,000 | — | — | — | — | — |
| Share repurchases & issuance (net) | — | $21.5M | — | — | — | — | — | — | — | −$350,000 |
| Net borrowing (repayment) | — | −$6.3M | $3.3M | $9.2M | $4.9M | — | — | — | — | — |
| Shares issued | $0 | $0 | $52.3M | $331,842 | $5,000 | $2.0M | $0 | $0 | $0 | $0 |
| Other financing | −$6.3M | $35.1M | −$5.3M | −$144,800 | $88,000 | $2.0M | $2.0M | $3.0M | $4.5M | $1.5M |
| Cash from financing activities | −$6.5M | $50.1M | $50.1M | $9.2M | $4.9M | $4.0M | $2.0M | $3.0M | $4.5M | $1.1M |
| Summary | ||||||||||
| Net change in cash | −$5,000 | $1.2M | $1.2M | −$81,950 | $812,452 | $1.7M | −$1.4M | −$644,520 | $1.3M | $1.4M |
| Cash at end of period | $1.9M | $1.9M | $1.9M | $730,502 | $812,452 | $2.3M | $615,375 | $2.0M | $2.7M | $1.4M |
| Free cash flow | −$9.7M | −$42.6M | −$42.6M | −$6.2M | −$6.9M | −$2.4M | −$3.4M | −$3.6M | −$3.2M | −$1.3M |
| Free cash flow margin | −98.1% | −470.1% | −337.1% | −65.7% | −147.3% | −87.9% | −604.9% | −245.8% | −676.7% | −155.0% |
| Capex / revenue | 1.7% | 34.0% | 24.4% | 1.9% | 1.8% | 0.2% | 13.1% | 1.1% | 69.7% | 3.2% |
| Dec '23 | Sep '23 | Jun '23 | Mar '23 | Dec '22 | Sep '22 | Jun '22 | Mar '22 | Dec '21 | Sep '21 | Jun '21 | Mar '21 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | −$4.9M | −$39.4M | $638,000 | −$4.9M | −$2.7M | −$1.2M | −$115.6M | $136,000 | −$115.7M | −$10.7M | −$10.6M | −$16.2M |
| Depreciation & amortization | $69,000 | $303,000 | $68,000 | $69,000 | $702,000 | $2.2M | $3.8M | $896,000 | $4.1M | $3.8M | $3.6M | $3.7M |
| Stock-based compensation | $132,000 | $137,000 | $52,000 | $132,000 | −$99,000 | $535,000 | $593,000 | $535,000 | $593,000 | $652,000 | $525,131 | $1.5M |
| Change in working capital | $2.5M | $4.4M | −$1.9M | $2.5M | $813,000 | −$3.0M | −$182,000 | −$3.0M | −$182,000 | −$525,000 | −$6.8M | −$8.7M |
| Other non-cash items | $2.9M | $35.7M | $441,000 | $2.9M | $1.7M | −$7.3M | $105.6M | −$7.3M | $105.5M | −$95,000 | $604,623 | $5.6M |
| Cash from operating activities | $589,000 | $1.2M | −$664,000 | $589,000 | $378,000 | −$8.7M | −$5.8M | −$8.7M | −$5.8M | −$6.9M | −$12.6M | −$14.2M |
| Investing activities | ||||||||||||
| Capital expenditures | $0 | −$2,000 | $0 | $0 | −$26,000 | −$193,000 | −$1.2M | −$193,000 | −$193,000 | −$537,000 | −$110,964 | −$3.7M |
| Investments (net) | — | $0 | $0 | $436,000 | $2,000 | $0 | $26,000 | $14.9M | −$740,000 | −$784,000 | −$111,255 | −$7.8M |
| Acquisitions & other investing | $436,000 | $4,000 | — | — | $50,000 | $15.1M | $468,000 | $193,000 | $193,000 | $537,000 | $110,964 | $3.7M |
| Cash from investing activities | $436,000 | $2,000 | — | — | $26,000 | $14.9M | −$740,000 | $14.9M | −$740,000 | −$784,000 | −$111,255 | −$7.8M |
| Financing activities | ||||||||||||
| Dividends paid | −$123,000 | $0 | $0 | $0 | −$123,000 | −$123,000 | −$168 | −$123,000 | −$168,000 | −$168,000 | −$168,000 | −$168,000 |
| Share repurchases & issuance (net) | — | — | — | — | — | — | $43.3M | — | — | — | — | — |
| Net borrowing (repayment) | — | — | — | — | — | $32,000 | $32,000 | −$7.5M | −$1.5M | $4.8M | $7.2M | −$7.2M |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $7.4M | $0 | $216 | $0 |
| Other financing | $293,000 | $661,000 | $0 | $170,000 | $155,000 | −$7.5M | −$37.8M | $31,000 | −$158,000 | $502,000 | $153,895 | $39.7M |
| Cash from financing activities | $170,000 | $661,000 | $0 | $170,000 | $32,000 | −$7.6M | $5.5M | −$7.6M | $5.5M | $5.1M | $7.2M | $32.3M |
| Summary | ||||||||||||
| Net change in cash | $1.2M | $1.3M | −$664,000 | $1.2M | $410,000 | −$1.4M | −$970,000 | −$1.4M | −$970,000 | −$2.5M | −$5.6M | $10.2M |
| Cash at end of period | $3.1M | $1.9M | $2.4M | $3.1M | $571,000 | $502,000 | $1.9M | $502,000 | $2.9M | $2.9M | $5.4M | $11.0M |
| Free cash flow | $589,000 | $1.2M | −$664,000 | $589,000 | $378,000 | −$8.9M | −$4.6M | −$8.9M | −$4.6M | −$7.4M | −$12.8M | −$17.9M |
| Free cash flow margin | 235.6% | 60.7% | −19.0% | 121.9% | 10.0% | −276.0% | −160.9% | −276.0% | −160.9% | −180.3% | −353.3% | −856.9% |
| Capex / revenue | 0.0% | 0.1% | 0.0% | 0.0% | 0.7% | 6.0% | 43.6% | 6.0% | 6.8% | 13.0% | 3.1% | 176.0% |
| Operating cash flow / net income | — | — | −1.04 | — | — | — | — | −64.11 | — | — | — | — |
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.
COMS cash generation
In fiscal 2023 (ended December 31, 2023), ComSovereign generated -$9.5 million of cash from operations and spent $0.2 million on capital expenditures, leaving free cash flow of -$9.7 million, −98.1% of revenue. It returned $0.2 million to shareholders through dividends ($0.2 million) and net share buybacks ($0). Cash and equivalents fell by $0.0 million over the year.
Related: COMS income statement, COMS balance sheet. See the COMS stock overview for the latest quote and news.
COMS cash flow FAQ
What is ComSovereign's free cash flow?
ComSovereign's free cash flow was -$9.7 million in fiscal 2023: -$9.5 million of operating cash flow minus $0.2 million of capital expenditures It was -$42.6 million a year earlier..
How much cash does ComSovereign generate from operations?
ComSovereign generated -$9.5 million of cash from operating activities in fiscal 2023.
How much does ComSovereign spend on capital expenditures?
ComSovereign spent $0.2 million on capital expenditures in fiscal 2023, 1.7% of revenue, compared with $3.1 million the year before.
How much does ComSovereign pay in dividends?
ComSovereign paid $0.2 million in dividends in fiscal 2023.