Highlands REIT, Inc. (HHDS)

Highlands REIT Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	-9.29	-1.01	-10.3	-7.66	-13.05	-33.59
Depreciation & Amortization	11.7	11.84	10.75	10.39	10.5	12.68
Other Amortization	0.6	0.72	0.46	0.16	0.45	0.68
Gain (Loss) on Sale of Assets	-	-6.87	-	0.01	-	-0.08
Asset Writedown	-	-	-	-	1.41	16.8
Stock-Based Compensation	1.91	1.44	1.54	1.47	3.85	2.56
Change in Accounts Receivable	-0.24	0.27	0.72	-0.69	0.49	0.12
Change in Accounts Payable	-0.7	-2.48	-0.79	1.56	-3.43	1.44
Change in Other Net Operating Assets	-0.09	-0.32	0.6	0.09	0.3	-2.7
Other Operating Activities	-1.08	-0.93	-0.7	-2.83	-0.31	-0.02
Operating Cash Flow	2.8	2.67	2.27	2.49	0.22	-2.11
Operating Cash Flow Growth	20.56%	17.63%	-8.98%	1048.85%	-	-
Acquisition of Real Estate Assets	-9.68	-5.65	-30.29	-2.62	-7.72	-10.18
Sale of Real Estate Assets	-	20.07	-	8.94	-	1.29
Net Sale / Acq. of Real Estate Assets	-9.68	14.43	-30.29	6.31	-7.72	-8.89
Investing Cash Flow	-10.44	13.84	-31.25	4.67	-9.04	-9.4
Long-Term Debt Issued	-	-	67.45	9.27	-	20
Long-Term Debt Repaid	-	-0.93	-18.25	-9.68	-21.08	-31.03
Net Debt Issued (Repaid)	-0.97	-0.93	49.2	-0.41	-21.08	-11.03
Repurchase of Common Stock	-2.73	-0.83	-25.89	-0.62	-1.73	-1.79
Other Financing Activities	-0.15	-0	-2.77	-0.22	-	-0.09
Net Cash Flow	-11.48	14.74	-8.43	5.91	-31.63	-24.42
Cash Interest Paid	6.69	6.93	4.27	2.53	2.87	3.89
Levered Free Cash Flow	-4.61	-3.4	-1.79	4.36	-3.75	3.3
Unlevered Free Cash Flow	-0.67	0.65	0.94	5.87	-2.16	5.42
Change in Working Capital	-1.04	-2.53	0.53	0.96	-2.64	-1.14

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