Forge Group Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	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	1.05	-0.6	-12.11	-0.7	3.87
Depreciation & Amortization	1.09	1.16	1.34	1.06	0.76
Gain (Loss) on Sale of Investments	-0.69	0.11	1.97	-1.16	-0.89
Stock-Based Compensation	0.41	-	-	-	-
Change in Accounts Receivable	-3.62	-2.8	-0.82	-1.09	1.88
Reinsurance Recoverable	-1.32	0.38	-0.15	0.28	-0.37
Change in Unearned Revenue	5.38	3.97	1.92	1.09	-2.16
Change in Insurance Reserves / Liabilities	3.92	-0.05	-1.2	-0.18	-2.55
Change in Other Net Operating Assets	-0.12	0.59	-0.23	-2.08	-1.25
Other Operating Activities	-0.04	-0.27	0.29	0.1	-0.22
Operating Cash Flow	5.93	2.39	-7.65	-3.08	-1.22
Operating Cash Flow Growth	148.09%	-	-	-	-
Investment in Securities	-0.97	-0.1	-7.33	6.94	1.29
Investing Cash Flow	-0.97	-0.59	-7.36	6.94	1.29
Short-Term Debt Issued	-	-	-	0.4	0.4
Total Debt Issued	-	-	-	0.4	0.4
Total Debt Repaid	-0.71	-0.64	-0.56	-0.5	-0.33
Net Debt Issued (Repaid)	-0.71	-0.64	-0.56	-0.1	0.06
Issuance of Common Stock	-	-	16.11	-	-
Repurchases of Common Stock	-0.14	-0.07	-	-	-
Preferred Dividends Paid	-0.47	-0.47	-0.26	-	-
Total Dividends Paid	-0.47	-0.47	-0.26	-	-
Other Financing Activities	-	-	-1.83	-	-
Financing Cash Flow	-1.32	-1.17	13.46	-0.1	0.06
Net Cash Flow	3.64	0.63	-1.55	3.77	0.14
Cash Interest Paid	1.13	1.16	1.2	1.31	1.31
Cash Income Tax Paid	0.02	-	-	-	-
Levered Free Cash Flow	6.91	0.85	-6.42	1.07	-0.63
Unlevered Free Cash Flow	7.61	1.57	-5.61	1.89	0.19
Change in Working Capital	4.11	1.99	0.84	-2.36	-4.71

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