Semnur Pharmaceuticals Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	-160.42	-4.69	-3.26	-3.77
Stock-Based Compensation	142.44	0.66	0.84	0.87
Change in Accounts Payable	2.15	-	-	-0.78
Change in Other Net Operating Assets	9.97	-0.86	0.74	-0.37
Operating Cash Flow	-5.87	-4.89	-1.68	-4.04
Long-Term Debt Issued	5.85	4.89	1.66	3.97
Net Debt Issued (Repaid)	5.85	4.89	1.66	3.97
Other Financing Activities	0.03	-	-	-
Financing Cash Flow	5.88	4.89	1.66	3.97
Net Cash Flow	0.01	-	-0.02	-0.07
Levered Free Cash Flow	54.2	-9.11	-0.45	-
Unlevered Free Cash Flow	54.2	-9.11	-0.45	-
Change in Working Capital	12.11	-0.86	0.74	-1.15

Source: S&P Global Market Intelligence. Standard template. Financial Sources.