S2W Inc. Cash Flow Statement

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

Millions KRW. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	-5,291	-14,103	-12,574	-9,991
Depreciation & Amortization	943.87	985.49	970.2	891.11
Loss (Gain) From Sale of Assets	-	-	7.59	1.12
Loss (Gain) on Equity Investments	-	116.95	33.05	-
Stock-Based Compensation	307.56	422.07	404.47	521.34
Provision & Write-off of Bad Debts	-	-	-4	4
Other Operating Activities	739.43	10,562	7,866	4,391
Change in Accounts Receivable	-410.18	-1,021	-131.19	-281.39
Change in Unearned Revenue	-	-	-	960.1
Change in Other Net Operating Assets	-571.22	-228.93	1,111	836.31
Operating Cash Flow	-4,281	-3,267	-2,317	-2,668
Capital Expenditures	-540.17	-527.53	-289.12	-627.13
Sale of Property, Plant & Equipment	8.73	5.53	8.29	-
Sale (Purchase) of Intangibles	-159	-148.27	-102.07	-35.25
Investment in Securities	-7,994	2,500	-2,290	4,500
Other Investing Activities	110.26	226.84	164.58	176.68
Investing Cash Flow	-8,103	2,008	-2,908	4,014
Long-Term Debt Repaid	-976.8	-947.01	-1,019	-976.38
Net Debt Issued (Repaid)	-976.8	-947.01	-1,019	-976.38
Issuance of Common Stock	21,723	525.56	280.9	108.55
Other Financing Activities	-737.13	126.53	-	-
Financing Cash Flow	20,009	2,703	6,257	-867.83
Foreign Exchange Rate Adjustments	-3.89	57.69	4.42	9.94
Net Cash Flow	7,621	1,502	1,036	488.85
Free Cash Flow	-4,822	-3,795	-2,606	-3,295
Free Cash Flow Margin	-47.79%	-39.48%	-41.58%	-79.88%
Free Cash Flow Per Share	-510.94	-745.33	-537.43	-701.68
Cash Interest Paid	49.34	93.42	-	-
Cash Income Tax Paid	-2.02	14.85	7.24	20.67
Levered Free Cash Flow	-5,039	-25,380	11,769	-
Unlevered Free Cash Flow	-4,994	-23,759	13,033	-
Change in Working Capital	-981.4	-1,250	979.33	1,515

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