Shearwater Group Balance Sheet

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

Millions GBP. Fiscal year is Jul - Jun.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Jun '25 Jun 30, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Cash & Equivalents	2.2	5.06	4.97	3.96	5.58	8.05
Cash & Short-Term Investments	2.2	5.06	4.97	3.96	5.58	8.05
Cash Growth	-26.67%	1.77%	25.48%	-28.90%	-30.74%	140.77%
Accounts Receivable	4.4	5.01	8.95	7.48	4.54	8.97
Other Receivables	5.9	4.87	0.75	4.37	5.07	0.34
Receivables	10.3	9.88	9.7	11.85	9.61	9.31
Prepaid Expenses	5.4	7.76	6.88	0.5	0.77	0.31
Total Current Assets	17.9	22.7	21.56	16.31	15.95	17.66
Property, Plant & Equipment	0.3	0.34	0.48	0.43	0.32	0.41
Goodwill	-	21.95	30.65	30.65	36.66	36.66
Other Intangible Assets	28.1	6.9	12.04	14.29	15.9	17.96
Long-Term Accounts Receivable	3	-	-	7.28	9.78	-
Long-Term Deferred Tax Assets	1.3	1.11	1.02	0.74	-	-
Other Long-Term Assets	2.2	0.23	1.27	-	-	-
Total Assets	52.8	53.23	67.01	69.7	78.61	72.68
Accounts Payable	2.9	2.85	7.32	3.27	4.57	7.72
Accrued Expenses	4.5	5.21	1.86	8.55	8.89	3.83
Current Portion of Long-Term Debt	-	-	-	-	-	0.02
Current Portion of Leases	0.1	0.16	0.13	0.11	0.16	0.19
Current Income Taxes Payable	-	-	0	0.01	0.44	0.03
Current Unearned Revenue	9.1	7.28	6.9	0.15	0.46	0.44
Other Current Liabilities	-	0.27	0.21	0.28	-	-
Total Current Liabilities	16.6	15.77	16.42	12.35	14.52	12.24
Long-Term Debt	-	-	-	-	-	0.76
Long-Term Leases	-	0.11	0.25	0.22	0.05	0.1
Long-Term Deferred Tax Liabilities	1.6	1.75	3.01	3.6	3.88	3.11
Other Long-Term Liabilities	1.9	1.88	1.64	5.42	3.96	-
Total Liabilities	20.1	19.5	21.33	21.58	22.4	16.19
Common Stock	2.4	22.28	22.28	22.28	22.28	22.28
Additional Paid-In Capital	34.6	34.58	34.58	34.58	34.58	34.58
Retained Earnings	-47.3	-46.26	-34.29	-32.21	-25.06	-24.78
Comprehensive Income & Other	43	23.13	23.11	23.47	24.41	24.41
Shareholders' Equity	32.7	33.73	45.68	48.12	56.21	56.49
Total Liabilities & Equity	52.8	53.23	67.01	69.7	78.61	72.68
Total Debt	0.1	0.27	0.38	0.32	0.21	1.06
Net Cash (Debt)	2.1	4.8	4.6	3.64	5.37	6.99
Net Cash Growth	-22.22%	4.33%	26.16%	-32.15%	-23.14%	-
Net Cash Per Share	0.09	0.20	0.19	0.15	0.22	0.30
Filing Date Shares Outstanding	23.83	23.83	23.83	23.83	23.82	23.81
Total Common Shares Outstanding	23.83	23.83	23.83	23.83	23.82	23.81
Working Capital	1.3	6.93	5.13	3.96	1.43	5.42
Book Value Per Share	1.37	1.42	1.92	2.02	2.36	2.37
Tangible Book Value	4.6	4.88	3	3.18	3.64	1.87
Tangible Book Value Per Share	0.19	0.20	0.13	0.13	0.15	0.08
Machinery	-	0.5	0.47	0.43	0.41	0.37

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.