IP Group Cash Flow Statement

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

Millions GBP. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	67.1	-202.6	-170.9	-342	448.5
Depreciation & Amortization	0.5	0.6	0.6	0.6	1.6
Loss (Gain) From Sale of Assets	-117.8	-	-	-	3.8
Loss (Gain) From Sale of Investments	45.4	195	160.5	309.1	-499.2
Stock-Based Compensation	2.4	-6	-2.1	14.9	19.8
Other Operating Activities	-13.2	-4.2	-7.3	-2.6	5.4
Change in Accounts Receivable	-1.6	-0.7	1.3	-0.5	-3
Change in Accounts Payable	-0.7	-7.3	-0.3	-2.8	8.8
Change in Other Net Operating Assets	-1.6	0.1	0.3	-0.2	24.3
Operating Cash Flow	-19.5	-25.1	-17.9	-23.5	10
Capital Expenditures	-	-	-	-0.3	-0.2
Sale of Property, Plant & Equipment	0.1	-	-	-	-
Divestitures	-89.3	-	-	-	-7.1
Investment in Securities	52.6	77	-8.5	-2	33.6
Other Investing Activities	15.9	5.9	4.1	-	-
Investing Cash Flow	-20.7	82.9	-4.4	-2.3	26.3
Long-Term Debt Issued	-	-	60	59.4	-
Long-Term Debt Repaid	-6.8	-6.5	-6.7	-30.3	-16.1
Net Debt Issued (Repaid)	-6.8	-6.5	53.3	29.1	-16.1
Repurchase of Common Stock	-45.7	-29.6	-0.1	-8	-27.2
Common Dividends Paid	-	-	-13	-12.3	-15
Other Financing Activities	-6.4	-6.8	-5.5	-	-
Financing Cash Flow	-58.9	-42.9	34.7	8.8	-58.3
Foreign Exchange Rate Adjustments	-	-0.2	-0.2	-	0.1
Net Cash Flow	-99.1	14.7	12.2	-17	-21.9
Free Cash Flow	-19.5	-25.1	-17.9	-23.8	9.8
Free Cash Flow Margin	-24.44%	-	-	-	1.91%
Free Cash Flow Per Share	-0.02	-0.03	-0.02	-0.02	0.01
Cash Interest Paid	6.4	6.8	5.5	-	-
Levered Free Cash Flow	40.03	-154.8	-77.61	-234.46	315.75
Unlevered Free Cash Flow	44.03	-150.61	-74.11	-233.59	316.88
Change in Working Capital	-3.9	-7.9	1.3	-3.5	30.1

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.