Cessatech Cash Flow Statement

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

Millions DKK. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	-9.84	-10.9	-14.67	-26.53	-14.66	-11.57
Stock-Based Compensation	0.7	0.99	1.4	0.75	0.57	1.57
Other Operating Activities	-0.26	-1.02	-0.22	6.95	-0.78	-2.26
Change in Accounts Receivable	-0.25	-0.25	0.44	0.78	-0.97	-0.36
Change in Accounts Payable	-0.39	-0.39	0.59	-2.08	1.36	1.27
Change in Unearned Revenue	-4.97	-4.97	4.97	-	-	-
Change in Other Net Operating Assets	-0.08	-1.03	0.28	0.15	-0.36	1.25
Operating Cash Flow	-15.08	-17.58	-7.21	-19.97	-14.85	-10.1
Sale (Purchase) of Intangibles	-	-	-	-	-	-0.13
Investing Cash Flow	-	-	-	-	-	-0.13
Issuance of Common Stock	14.65	14.65	17.13	-	39	-
Other Financing Activities	-0.85	-0.85	-0.92	-	-4.08	-
Financing Cash Flow	13.8	13.8	16.21	-	34.91	-
Net Cash Flow	-1.28	-3.78	9	-19.97	20.07	-10.23
Levered Free Cash Flow	-13.45	-16.03	-11.7	-12.65	11.9	-29.98
Unlevered Free Cash Flow	-13.44	-16.03	-11.7	-7.51	12.03	-29.94
Change in Working Capital	-5.69	-6.64	6.28	-1.15	0.03	2.16