S2W Inc. Cash Flow Statement

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

Millions KRW. 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	-13,969	-14,103	-12,574	-9,991
Depreciation & Amortization	1,012	1,012	970.2	891.11
Loss (Gain) From Sale of Assets	0.69	0.69	7.59	1.12
Loss (Gain) on Equity Investments	116.95	116.95	33.05	-
Stock-Based Compensation	422.07	422.07	404.47	521.34
Provision & Write-off of Bad Debts	-	-	-4	4
Other Operating Activities	11,180	10,535	7,866	4,391
Change in Accounts Receivable	-1,021	-1,021	-131.19	-281.39
Change in Unearned Revenue	-	-	-	960.1
Change in Other Net Operating Assets	-228.93	-228.93	1,111	836.31
Operating Cash Flow	-2,488	-3,267	-2,317	-2,668
Capital Expenditures	-627.36	-527.53	-289.12	-627.13
Sale of Property, Plant & Equipment	9.92	5.53	8.29	-
Sale (Purchase) of Intangibles	-168.99	-148.27	-102.07	-35.25
Investment in Securities	-2,245	2,500	-2,290	4,500
Other Investing Activities	222.58	226.84	164.58	176.68
Investing Cash Flow	-2,774	2,008	-2,908	4,014
Long-Term Debt Repaid	-	-947.01	-1,019	-976.38
Net Debt Issued (Repaid)	-958.73	-947.01	-1,019	-976.38
Issuance of Common Stock	20,751	525.56	280.9	108.55
Other Financing Activities	104.31	126.53	-	-
Financing Cash Flow	22,895	2,703	6,257	-867.83
Foreign Exchange Rate Adjustments	21.71	57.69	4.42	9.94
Net Cash Flow	17,655	1,502	1,036	488.85
Free Cash Flow	-3,115	-3,795	-2,606	-3,295
Free Cash Flow Margin	-30.29%	-39.48%	-41.58%	-79.88%
Free Cash Flow Per Share	-417.11	-745.33	-537.43	-701.68
Cash Interest Paid	59.8	93.42	-	-
Cash Income Tax Paid	-	14.85	7.24	20.67
Levered Free Cash Flow	-	-25,354	11,769	-
Unlevered Free Cash Flow	-	-23,732	13,033	-
Change in Working Capital	-1,250	-1,250	979.33	1,515

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