Harmonic 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	-43.31	39.22	83.99	28.18	13.25
Depreciation & Amortization	11.08	12.14	12.26	12.26	13.05
Other Amortization	-	-	-	-	6.31
Asset Writedown & Restructuring Costs	59.16	12.04	-	-	-
Loss (Gain) From Sale of Investments	-	-	-	-4.37	-
Stock-Based Compensation	31.88	28.07	27.33	25.21	24.06
Provision & Write-off of Bad Debts	-	-	-	-	4.14
Other Operating Activities	12.72	-4.58	-82.09	11.62	-5.94
Change in Accounts Receivable	53.91	-38.24	-32.7	-21.18	-26.72
Change in Inventory	-7.1	8.37	35.4	-54.43	-39.34
Change in Accounts Payable	-5.97	-3.11	-29.36	5.84	42.3
Change in Unearned Revenue	10.22	-2.21	-20.82	2.61	15.01
Change in Other Net Operating Assets	-14.63	10.22	13.04	-0.26	-5.11
Operating Cash Flow	107.97	61.92	7.06	5.48	41.02
Operating Cash Flow Growth	74.37%	777.14%	28.91%	-86.65%	4.73%
Capital Expenditures	-11.08	-9.19	-8.48	-9.25	-12.98
Investment in Securities	-	-	-	7.96	-
Investing Cash Flow	-11.08	-9.19	-8.48	-1.29	-12.98
Long-Term Debt Issued	138.84	118.94	3.84	3.5	3.86
Long-Term Debt Repaid	-142.82	-120.95	-4.87	-42.29	-6.17
Net Debt Issued (Repaid)	-3.98	-2	-1.03	-38.79	-2.31
Issuance of Common Stock	5.98	6.63	6.56	7.09	12.31
Repurchase of Common Stock	-83.39	-37.56	-9.49	-11.43	-2.06
Other Financing Activities	-	-0.33	-1.03	-	-
Financing Cash Flow	-81.39	-33.27	-4.99	-43.13	7.94
Foreign Exchange Rate Adjustments	7.18	-1.94	1.09	-4.9	-1.2
Net Cash Flow	22.67	17.52	-5.32	-43.85	34.79
Free Cash Flow	96.89	52.73	-1.42	-3.77	28.04
Free Cash Flow Growth	83.74%	-	-	-	303.02%
Free Cash Flow Margin	26.87%	7.77%	-0.23%	-0.60%	5.53%
Free Cash Flow Per Share	0.85	0.45	-0.01	-0.03	0.26
Cash Income Tax Paid	12.76	27.31	18.13	9.04	2.53
Levered Free Cash Flow	-41.92	75.4	5.96	11.19	32.81
Unlevered Free Cash Flow	-39.55	79.97	7.64	14.34	33.14
Change in Working Capital	36.43	-24.97	-34.43	-67.42	-13.86

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