Aerovate Therapeutics Cash Flow Statement

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

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2016 - 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2016 - 2020
Net Income	1,204	1,154	1,323	2,107	2,567	37	Upgrade
Depreciation & Amortization	196	180	158	170	187	122	Upgrade
Gain (Loss) on Sale of Investments	-15	-58	-280	217	-450	-241	Upgrade
Change in Income Taxes	-42	-	-	-	-350	-311	Upgrade
Change in Other Net Operating Assets	183	-194	-314	12,837	-2,238	-919	Upgrade
Other Operating Activities	393	472	642	-16,417	2,726	2,250	Upgrade
Operating Cash Flow	1,754	1,327	970	33	1,185	809	Upgrade
Operating Cash Flow Growth	241.25%	36.80%	2839.39%	-97.21%	46.48%	-47.12%	Upgrade
Capital Expenditures	-201	-142	-	-	-	-160	Upgrade
Sale of Property, Plant & Equipment	18	17	5	8	31	-	Upgrade
Cash Acquisitions	-	-	-247	-7	-936	-1,103	Upgrade
Investment in Securities	-	-	-	2,451	4,182	1,174	Upgrade
Other Investing Activities	-	-	-1	-1	-	1	Upgrade
Investing Cash Flow	-183	-125	-223	2,970	3,277	-88	Upgrade
Long-Term Debt Issued	-	194	142	62	147	1,191	Upgrade
Total Debt Repaid	-205	-50	-473	-920	-853	-1,199	Upgrade
Net Debt Issued (Repaid)	-17	144	-331	-858	-706	-8	Upgrade
Repurchases of Common Stock	-441	-475	-555	-1,444	-380	-	Upgrade
Common Dividends Paid	-915	-903	-1,321	-1,120	-944	-833	Upgrade
Other Financing Activities	-357	-426	-200	-216	-136	-51	Upgrade
Financing Cash Flow	-1,730	-1,660	-2,407	-4,704	-2,166	-892	Upgrade
Foreign Exchange Rate Adjustments	-7	5	3	-44	3	14	Upgrade
Miscellaneous Cash Flow Adjustments	-	-	-	-	-	-1	Upgrade
Net Cash Flow	-166	-453	-1,657	-1,745	2,299	-158	Upgrade
Free Cash Flow	1,553	1,185	970	33	1,185	649	Upgrade
Free Cash Flow Growth	205.11%	22.17%	2839.39%	-97.21%	82.59%	-55.73%	Upgrade
Free Cash Flow Margin	15.93%	12.49%	11.73%	0.38%	8.36%	7.43%	Upgrade
Free Cash Flow Per Share	0.59	0.46	0.38	0.01	0.43	0.23	Upgrade
Cash Interest Paid	88	91	132	190	158	128	Upgrade
Cash Income Tax Paid	373	331	277	290	350	311	Upgrade
Levered Free Cash Flow	1,283	896.25	-10,811	-8,866	6,508	83.38	Upgrade
Unlevered Free Cash Flow	1,329	941.88	-10,752	-8,808	6,600	153.38	Upgrade
Change in Working Capital	141	-194	-314	12,837	-2,588	-1,230	Upgrade

Updated Mar 18, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.