The company states: "For 2023, we currently expect Free Cash Flow to increase substantially compared to 2022. However, 2023 Free Cash Flow is likely to be below 2023 Adjusted EBITDA, in part because 2023 ends on a Sunday. This means we expect to have one extra day of cash held at payment processors at the end of 2023 compared to 2022, and two extra days of cash held at payment processors compared to the end of 2021. While the day of the week a period ends on can impact our reported Free Cash Flow, it does not impact our normal operations. We believe our normalized working capital5 cycle remains positive."
Published first on TheFly
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