Innodata Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	33.64	28.66	-0.91	-11.94	-1.67	0.62
Depreciation & Amortization	2.59	2.3	2.02	2.09	1.47	1.77
Other Amortization	3.9	3.5	2.7	1.8	1.4	0.5
Loss (Gain) From Sale of Assets	-	-	-	-	-	0.05
Stock-Based Compensation	9.43	4	4.03	3.28	1.75	0.91
Provision & Write-off of Bad Debts	0.8	0.8	0.43	0.48	-	-
Other Operating Activities	5.03	-4.36	0.79	1.22	-0.12	0.2
Change in Accounts Receivable	-17.02	-14.69	-5.12	1.3	-1.87	-0.48
Change in Accounts Payable	8.49	3.43	0.35	0.32	4.44	0.16
Change in Unearned Revenue	0.53	4.49	-0.84	-	-	-
Change in Income Taxes	-0.76	1.88	0.61	0.01	-1.73	0.78
Change in Other Net Operating Assets	4.58	5.01	1.85	0.21	1.48	1.16
Operating Cash Flow	51.2	35.02	5.9	-1.22	5.15	5.66
Operating Cash Flow Growth	187.68%	493.17%	-	-	-8.99%	32.24%
Capital Expenditures	-10.51	-7.74	-5.56	-6.53	-4.37	-1.41
Sale of Property, Plant & Equipment	-	-	-	-	-	0.04
Investment in Securities	-	-	0.49	-0.51	-	-
Investing Cash Flow	-10.51	-7.74	-5.07	-7.03	-4.37	-1.38
Long-Term Debt Issued	-	-	-	-	-	0.58
Long-Term Debt Repaid	-	-0.51	-0.45	-0.64	-0.69	-0.86
Net Debt Issued (Repaid)	-0.37	-0.51	-0.45	-0.64	-0.69	-0.28
Issuance of Common Stock	7.41	6.67	3.32	0.33	2.23	2.6
Repurchase of Common Stock	-0.04	-0.1	-	-	-0.76	-
Financing Cash Flow	7	6.06	2.87	-0.31	0.77	2.31
Foreign Exchange Rate Adjustments	-0.22	-0.26	0.31	-0.55	-0.23	0.1
Net Cash Flow	47.48	33.08	4.01	-9.11	1.33	6.7
Free Cash Flow	40.7	27.27	0.34	-7.74	0.78	4.25
Free Cash Flow Growth	268.90%	7945.43%	-	-	-81.56%	62.49%
Free Cash Flow Margin	17.07%	16.00%	0.39%	-9.80%	1.12%	7.29%
Free Cash Flow Per Share	1.22	0.85	0.01	-0.28	0.03	0.17
Cash Interest Paid	0.23	0.29	0.4	0.02	0.03	0.14
Cash Income Tax Paid	5.27	2.42	0.75	1.11	1.54	0.35
Levered Free Cash Flow	27.3	17.71	0.65	-4.38	1.36	3.72
Unlevered Free Cash Flow	27.48	17.89	0.9	-4.37	1.36	3.8
Change in Working Capital	-4.19	0.11	-3.15	1.85	2.32	1.62

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