Vaxart Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 30, 2025	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	-56.64	-66.95	-82.47	-107.76	-70.47	-32.22
Depreciation & Amortization	8.9	8.85	8.62	5.81	4.21	2.71
Stock-Based Compensation	9.41	11.5	14.13	13.59	8.87	4.36
Other Adjustments	-2.12	-1.43	0.11	-1.72	-0.32	-1.4
Change in Receivables	-36.29	-8.96	-2.99	0.05	0.26	3.29
Changes in Accounts Payable	6.84	5.27	-2.44	0.36	1.63	1.21
Changes in Accrued Expenses	26.4	3.33	-6.98	-3.32	-2.21	-0.58
Changes in Unearned Revenue	65.38	65.4	-2	2	-	-
Changes in Other Operating Activities	1.14	-61.78	3.56	-3.78	-1.8	-1.11
Operating Cash Flow	-37.09	-44.76	-70.45	-94.78	-59.83	-23.75
Capital Expenditures	-0.08	-0.55	-1.87	-9.6	-5.16	-1.22
Sale of Property, Plant & Equipment	-	-	0.12	-	-	0
Purchases of Investments	-44.89	-64.27	-27.5	-55.01	-44.81	-
Proceeds from Sale of Investments	58.8	43.5	73.2	44.2	5.7	-
Payments for Business Acquisitions	-	-	-	-	-4.83	-
Investing Cash Flow	13.83	-21.32	43.95	-20.42	-49.1	-1.22
Issuance of Common Stock	0.02	56.78	15.61	17.46	125.8	137.66
Repurchase of Common Stock	-0.19	-0.21	-0.37	-	-	-
Net Common Stock Issued (Repurchased)	-0.17	56.56	15.24	17.46	125.8	137.66
Other Financing Activities	-	-	-	-	-	0.65
Financing Cash Flow	0.09	56.56	15.24	17.46	125.8	138.31
Net Cash Flow	-23.17	-9.53	-11.26	-97.73	16.88	113.34
Beginning Cash & Cash Equivalents	43.29	34.76	46.01	143.75	126.87	13.53
Ending Cash & Cash Equivalents	20.11	25.23	34.76	46.01	143.75	126.87
Free Cash Flow	-37.17	-45.32	-72.32	-104.38	-64.99	-24.97
FCF Margin	-46.05%	-157.90%	-980.13%	-97551.40%	-7285.76%	-617.23%
Free Cash Flow Per Share	-0.16	-0.22	-0.50	-0.82	-0.54	-0.28
Levered Free Cash Flow	51.94	-46.43	-83.57	-116.3	-73.8	-31.21
Unlevered Free Cash Flow	52.73	-46.06	-84.73	-123.21	-76.2	-29.42

Updated Jun 30, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.