DLH Holdings Cash Flow Statement

Financials in millions USD. Fiscal year is October - September.

Millions USD. Fiscal year is Oct - Sep.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Sep '25 Sep 30, 2025	Sep '24 Sep 30, 2024	Sep '23 Sep 30, 2023	Sep '22 Sep 30, 2022	Sep '21 Sep 30, 2021
Net Income	-1.08	1.36	7.4	1.46	23.29	10.15
Depreciation & Amortization	17.17	17.18	17.05	15.56	7.67	8.12
Other Amortization	1.72	1.74	1.84	2.18	0.66	0.79
Asset Writedown & Restructuring Costs	-	-	-	7.67	-	-
Stock-Based Compensation	1.92	1.46	1.9	1.92	2.61	1.66
Other Operating Activities	-2.98	-1.7	-3.18	-4.6	0.36	1.21
Change in Accounts Receivable	28.43	11.46	9.27	6.85	-7.05	-0.91
Change in Accounts Payable	-4.47	-6.04	-4.41	-0.08	-5.86	4.14
Change in Unearned Revenue	-	-	-	-	-22.27	22.27
Change in Other Net Operating Assets	-10.72	-2.24	-2.5	0.07	1.84	-1.77
Operating Cash Flow	29.98	23.22	27.37	31.03	1.24	45.67
Operating Cash Flow Growth	178.74%	-15.17%	-11.82%	2396.62%	-97.28%	134.77%
Capital Expenditures	0.27	-0.24	-0.84	-0.63	-0.87	-0.1
Cash Acquisitions	-	-	-	-180.57	-	0.06
Investing Cash Flow	0.27	-0.24	-0.84	-181.2	-0.87	-0.04
Long-Term Debt Issued	-	253.18	361.72	373.27	17	30.95
Long-Term Debt Repaid	-	-276.17	-386.52	-215.91	-41.75	-54.2
Net Debt Issued (Repaid)	-30.36	-22.99	-24.8	157.36	-24.75	-23.25
Issuance of Common Stock	-	-	0.26	1.11	0.84	0.37
Repurchase of Common Stock	-0.09	-	-1.86	-0.65	-0.28	-
Other Financing Activities	-	-0.2	-	-7.67	-	-0.04
Financing Cash Flow	-30.45	-23.19	-26.4	150.15	-24.19	-22.93
Net Cash Flow	-0.19	-0.22	0.13	-0.01	-23.82	22.69
Free Cash Flow	30.26	22.98	26.53	30.41	0.37	45.56
Free Cash Flow Growth	217.05%	-13.40%	-12.75%	8096.23%	-99.19%	136.08%
Free Cash Flow Margin	9.38%	6.67%	6.70%	8.09%	0.09%	18.51%
Free Cash Flow Per Share	2.10	1.59	1.84	2.11	0.03	3.35
Cash Interest Paid	12.91	13.51	16.04	14.15	1.53	2.94
Cash Income Tax Paid	2.02	2.05	3.26	5.6	9.28	0.94
Levered Free Cash Flow	33.87	24.6	28.76	13.37	-4.01	42.12
Unlevered Free Cash Flow	41.1	32.25	37.64	21.35	-3.27	43.69
Change in Working Capital	13.24	3.17	2.36	6.84	-33.34	23.74

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