Frontier Developments Cash Flow Statement

Financials in millions GBP. Fiscal year is June - May.

Millions GBP. Fiscal year is Jun - May.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov '25 Nov 30, 2025	May '25 May 31, 2025	May '24 May 31, 2024	May '23 May 31, 2023	May '22 May 31, 2022	May '21 May 31, 2021
Net Income	20	16.39	-21.47	-20.91	9.63	21.56
Depreciation & Amortization	6.28	3.29	5.48	5.25	5.3	2.85
Other Amortization	17.94	20.15	31.41	36.19	26.9	15.32
Asset Writedown & Restructuring Costs	-	-	16.93	18.12	7.4	-
Stock-Based Compensation	2.23	2.37	2.78	3.34	2.45	2.16
Other Operating Activities	-2.96	-1.84	-2.62	-2.1	-4.04	-1.83
Change in Accounts Receivable	-1.79	1.47	3.66	11.08	-10.96	-1.23
Change in Accounts Payable	7.41	0.64	-4.56	-3.11	4.47	0.12
Change in Unearned Revenue	0.21	-0.96	-	-	-	-
Change in Other Net Operating Assets	0.02	0.02	0.01	0.02	0.02	0.02
Operating Cash Flow	49.33	41.51	31.63	47.88	41.16	38.95
Operating Cash Flow Growth	21.89%	31.24%	-33.94%	16.33%	5.65%	20.17%
Capital Expenditures	-0.26	-0.34	-0.96	-1.34	-2.5	-1.38
Cash Acquisitions	-	-	-1.52	-9.61	-	-
Sale (Purchase) of Intangibles	-24.41	-26.37	-26.22	-42.05	-36.24	-31.5
Other Investing Activities	1.06	0.8	0.83	0.68	0.06	0.05
Investing Cash Flow	-23.61	-25.91	-27.87	-52.31	-38.69	-32.83
Long-Term Debt Repaid	-	-1.73	-1.67	-2.72	-1.42	-1.38
Net Debt Issued (Repaid)	-1.78	-1.73	-1.67	-2.72	-1.42	-1.38
Issuance of Common Stock	0.09	0.12	-	0.31	0.9	2.68
Repurchase of Common Stock	-10.18	-	-	-3	-5	-10
Other Financing Activities	-0.98	-1.03	-0.84	-0.61	-0.65	-0.78
Financing Cash Flow	-12.85	-2.64	-2.51	-6.02	-6.17	-9.48
Foreign Exchange Rate Adjustments	0	0.02	-0.04	0.06	-0.02	0.02
Net Cash Flow	12.87	12.98	1.21	-10.39	-3.72	-3.33
Free Cash Flow	49.07	41.17	30.67	46.54	38.66	37.58
Free Cash Flow Growth	22.46%	34.24%	-34.11%	20.39%	2.87%	18.36%
Free Cash Flow Margin	47.67%	45.44%	34.35%	44.50%	33.90%	41.44%
Free Cash Flow Per Share	1.22	1.02	0.79	1.19	0.95	0.93
Cash Interest Paid	0.98	1.03	0.84	0.61	0.65	0.78
Cash Income Tax Paid	-	-5.81	-9.21	-3.81	-3.96	-0.04
Levered Free Cash Flow	14.49	5.46	1.43	0.34	-3.93	-4.27
Unlevered Free Cash Flow	15.11	6.11	1.95	0.34	-3.56	-3.82
Change in Working Capital	5.85	1.15	-0.88	7.99	-6.48	-1.1

Source: S&P Global Market Intelligence. Standard template. Financial Sources.