Emergent BioSolutions Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	52.6	-190.6	-760.5	-211.6	219.5
Depreciation & Amortization	105.6	116.2	146.4	147.4	127.9
Stock-Based Compensation	16.2	18	23.1	45.1	42.4
Other Adjustments	18.6	26.4	455	-12.9	75.4
Change in Receivables	25.5	-24.4	-21.6	118.1	-16.2
Changes in Inventories	-30.3	-24.5	0.6	-57.1	-66.6
Changes in Accounts Payable	-8.4	-33	10.6	-14	-1.6
Changes in Accrued Expenses	-24.4	-2.3	-61.3	-67.5	-5.2
Changes in Income Taxes Payable	-1.7	23.3	-16.2	28.7	-31.3
Changes in Unearned Revenue	5.2	-20.3	5.9	9.6	-31.8
Changes in Other Operating Activities	11.7	169.9	11.7	-19.9	7.7
Operating Cash Flow	170.6	58.7	-206.3	-34.1	320.2
Operating Cash Flow Growth	190.63%	-	-	-	-40.36%
Capital Expenditures	-13.8	-22.9	-51.6	-115.8	-224.1
Purchases of Investments	-5	-	-	-	-
Payments for Business Acquisitions	-	-	-	-243.7	-
Proceeds from Business Divestments	38.2	118.1	270.2	-	-
Other Investing Activities	50	30	-6.3	-21.8	-
Investing Cash Flow	69.4	125.2	212.3	-381.3	-224.1
Short-Term Debt Issued	-	65	20	598	-
Short-Term Debt Repaid	-	-284.2	-398.8	-	-
Net Short-Term Debt Issued (Repaid)	-	-219.2	-378.8	598	-
Long-Term Debt Issued	-	219	-	-	-
Long-Term Debt Repaid	-108.7	-198.2	-164.6	-33.8	-35.9
Net Long-Term Debt Issued (Repaid)	-108.7	20.8	-164.6	-33.8	-35.9
Issuance of Common Stock	2.2	10.8	10.2	5	15.9
Repurchase of Common Stock	-24.9	-	-	-82.1	-106
Net Common Stock Issued (Repurchased)	-22.7	10.8	10.2	-77.1	-90.1
Other Financing Activities	-5.2	-2.4	-2.5	-5.9	-15
Financing Cash Flow	-136.6	-190	-535.7	481.2	-141
Effect of Exchange Rate Changes on Cash and Cash Equivalents	0.1	-1.2	-1.2	0.5	-0.3
Net Cash Flow	103.5	-6.1	-530.9	66.3	-45.2
Free Cash Flow	156.8	35.8	-257.9	-149.9	96.1
Free Cash Flow Growth	337.99%	-	-	-	-75.67%
FCF Margin	21.11%	3.43%	-24.58%	-13.41%	5.42%
Free Cash Flow Per Share	2.77	0.68	-5.04	-2.99	1.78
Levered Free Cash Flow	-12.2	-182.6	-1,258	264	-41.4
Unlevered Free Cash Flow	107.49	61.42	-709.41	-252.86	22.15

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.