MiniMax Group 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
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	-672.91	-465.24	-269.25	-73.73
Depreciation & Amortization	2.56	1.9	0.81	0.21
Loss (Gain) From Sale of Assets	-0.17	0	-0.07	-
Loss (Gain) From Sale of Investments	-29.44	-15.71	-0.79	-0.94
Stock-Based Compensation	9.3	6.82	3.35	1.07
Provision & Write-off of Bad Debts	0.04	0.09	0	-
Other Operating Activities	393.65	199.94	175.59	60.52
Change in Accounts Receivable	-2.61	-5.73	-1.34	-
Change in Accounts Payable	15.03	33.97	14.85	2.39
Change in Unearned Revenue	3.62	0.99	0.56	-
Change in Other Net Operating Assets	8.64	-15.52	11.83	-0.54
Operating Cash Flow	-272.28	-258.48	-64.46	-11.02
Capital Expenditures	-0.74	-0.76	-0.7	-0.26
Investment in Securities	73.67	-430.54	-39.62	-34.9
Investing Cash Flow	72.93	-431.3	-40.32	-35.16
Short-Term Debt Issued	-	33.37	-	-
Total Debt Issued	44.57	33.37	-	-
Long-Term Debt Repaid	-	-1.35	-0.7	-0.2
Net Debt Issued (Repaid)	-16.64	32.01	-0.7	-0.2
Other Financing Activities	-2.66	-0.51	-0.06	-0.01
Financing Cash Flow	460.18	771.09	306.24	49.79
Foreign Exchange Rate Adjustments	2.26	1.31	0.14	0.09
Net Cash Flow	263.08	82.62	201.6	3.7
Free Cash Flow	-273.03	-259.24	-65.15	-11.28
Free Cash Flow Margin	-423.25%	-849.33%	-1883.01%	-
Free Cash Flow Per Share	-2.51	-2.39	-0.62	-0.11
Cash Interest Paid	0.7	0.51	0.06	0.01
Levered Free Cash Flow	-	-151.03	-34.72	-
Unlevered Free Cash Flow	-	-150.72	-34.68	-
Change in Working Capital	24.68	13.72	25.9	1.85

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