GameStop (GME) has reported its Q2 2022 earnings today and among the noteworthy information is how the company’s net cash outflows decreased a whopping 46 percent from Q1. Back in Q1 2022, outflow sat at $236.3 million while in Q2 2022 that number has since been reduced by nearly half with a total of $126.6 million.
Other cash flow numbers include outflow from operating activities at $407.3 million compared with an outflow of $30.3 million during Q1 of last year. According to the report, “cash used in operating activities was primarily due to a decrease in accounts payable and accrued liabilities related to overhead and inventory.”
In addition to reducing its net cash outflows by nearly half, GameStop also ended Q2 with “no debt other than a low-interest, unsecured term loan associated with the French government’s response to COVID-19.” The end of Q2 2022 saw cash and cash equivalents at $908.9 million.