A business can have positive cash flow but isn’t profitable because cash and profit are different concepts. See Cash flow is not the same as profit – here’s why…(simple illustration)

Let’s see this in action, take a business that has:
$10,000 in sales
$50,000 in depreciation (due to owning an expensive piece of equipment).
$2,000 in other expenses.

Assuming all sales and other expenses are cash, the cash flow would look like this:
$10,000 money in.
$2,000 money out.
Net cash of $8,000 – this is positive cash flow.

However, the profit and loss statement would show:
$10,000 sales
less
$50,000 in depreciation
$2,000 in other expenses
Net loss is $42,000.

So while you made cash, you’ve made a loss (not a profit) due to depreciation which is a non-cash entry which shows in the profit and loss report.