SEERS Cash Flow Statement

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

Millions KRW. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024
Net Income	30,425	16,089	-8,871
Depreciation & Amortization	1,427	1,309	1,124
Stock-Based Compensation	1,951	1,309	28.03
Provision & Write-off of Bad Debts	-13.46	-18.86	-43.98
Other Operating Activities	1,185	763.9	430.7
Change in Accounts Receivable	-35,145	-17,807	-3,676
Change in Inventory	-2,933	-2,780	-215.4
Change in Accounts Payable	3,066	3,494	47.38
Change in Other Net Operating Assets	5,739	-271.93	76.71
Operating Cash Flow	5,702	2,086	-11,101
Capital Expenditures	-2,081	-1,476	-396.28
Cash Acquisitions	100	100	-
Sale (Purchase) of Intangibles	-164.35	-156.05	-10
Investment in Securities	-200	-	-1,000
Other Investing Activities	-429.62	-468.94	-10.54
Investing Cash Flow	-2,805	-2,031	-1,417
Short-Term Debt Issued	-	-	1,930
Total Debt Issued	-	-	1,930
Short-Term Debt Repaid	-	-	-4,930
Long-Term Debt Repaid	-	-420.9	-310.19
Total Debt Repaid	-503.33	-420.9	-5,240
Net Debt Issued (Repaid)	-503.33	-420.9	-3,310
Issuance of Common Stock	667.71	648.52	22,486
Other Financing Activities	-115.97	-0	0
Financing Cash Flow	48.4	227.63	19,176
Foreign Exchange Rate Adjustments	15.61	11.41	-
Miscellaneous Cash Flow Adjustments	-0	-	-0
Net Cash Flow	2,961	294.55	6,659
Free Cash Flow	3,621	610.5	-11,497
Free Cash Flow Margin	4.72%	1.27%	-141.94%
Free Cash Flow Per Share	95.36	16.18	-325.04
Cash Interest Paid	242.37	234.25	396.51
Cash Income Tax Paid	-	-7.58	28.56
Levered Free Cash Flow	-	-6,089	-
Unlevered Free Cash Flow	-	-5,940	-
Change in Working Capital	-29,273	-17,366	-3,768