| Year | OCF | CapEx | FCF |
|---|---|---|---|
| $99,584 | |||
| $108,807 | |||
| $112,800 |
FY23
$99,584
FY24
$108,807
FY25
$112,800
Reading a declining trend with rising revenue
Possible drivers: CapEx ramp (AI build-out), working-capital build (receivables outpacing collections), or mix-shift toward lower-margin revenue. Cross-check with the revenue and CapEx lines from the 10-K.