Cadiz 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	FY 2021	FY 2020
Period Ending	Sep '25 Sep 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
Net Income	-33.02	-31.14	-31.45	-24.79	-31.25	-37.82
Depreciation & Amortization	1.54	1.38	1.37	0.67	0.44	0.38
Other Amortization	1.49	1.32	0.41	2.41	3.48	1.06
Loss (Gain) on Equity Investments	-	-	-	-0.04	0.94	2.17
Stock-Based Compensation	4.86	4.61	1.5	1.88	4.75	2.1
Change in Accounts Receivable	-0.4	-3.68	-0.45	-0.18	-0.22	-0.01
Change in Inventory	1.55	-0.91	-1.79	-0.24	-	-
Change in Accounts Payable	-0.53	-0.39	0.94	0.11	-0.09	0.13
Change in Unearned Revenue	-1.61	0.85	0.25	-	-	-
Change in Other Net Operating Assets	2.57	1.41	-0.35	-0.29	-0.06	-2.42
Other Operating Activities	5.34	5.04	8.65	1.87	6.74	20.98
Operating Cash Flow	-18.22	-21.53	-20.92	-18.6	-15.27	-13.43
Capital Expenditures	-6.66	-0.93	-5.79	-3.38	-22.91	-5.73
Cash Acquisitions	-	-	-	-0.75	-	-
Investment in Securities	-	-	-	0	-0.56	-4.11
Other Investing Activities	-5.25	-0.25	-	-	-	-
Investing Cash Flow	-11.91	-1.18	-5.79	-4.12	-23.47	-9.84
Long-Term Debt Issued	-	20	0.23	0.29	50.14	0.15
Long-Term Debt Repaid	-	-0.18	-15.16	-0.17	-77.6	-0.04
Net Debt Issued (Repaid)	-0.13	19.82	-14.93	0.12	-27.46	0.11
Issuance of Common Stock	40.47	22.14	38.49	21.64	32.46	14.77
Repurchase of Common Stock	-0.17	-0.05	-0.26	-	-1.18	-
Preferred Dividends Paid	-5.11	-5.11	-5.11	-5.11	-1.45	-
Dividends Paid	-5.11	-5.11	-5.11	-5.11	-1.45	-
Other Financing Activities	-1.2	-1.29	-0.63	-	-5.4	-
Financing Cash Flow	33.86	35.51	17.57	16.65	51.18	14.87
Net Cash Flow	3.73	12.79	-9.15	-6.07	12.43	-8.39
Free Cash Flow	-24.88	-22.47	-26.71	-21.98	-38.18	-19.16
Free Cash Flow Margin	-155.72%	-233.83%	-1341.59%	-1464.02%	-6769.86%	-3541.04%
Free Cash Flow Per Share	-0.32	-0.33	-0.41	-0.44	-0.94	-0.56
Cash Interest Paid	2.63	1.5	-	-	-	-
Cash Income Tax Paid	0.01	0.01	0.01	0.01	0.01	0.01
Levered Free Cash Flow	-18.03	-9.7	-20.02	-11.11	-34.86	-18.8
Unlevered Free Cash Flow	-14.04	-6.01	-16.95	-8.36	-30.86	-12.57
Change in Working Capital	1.58	-2.73	-1.41	-0.6	-0.37	-2.3

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.