Octopus Digital Cash Flow Statement

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

Millions PKR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2018 - 2019
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	2018 - 2019
Net Income	144.97	205.03	373.41	405.06	345.95	219.74	Upgrade
Depreciation & Amortization	56.7	55.26	5.57	1.53	1.12	0.35	Upgrade
Provision & Write-off of Bad Debts	20.56	21.14	47.17	20.26	3.69	-	Upgrade
Other Operating Activities	21.14	39.11	-300.84	-209.3	11.18	33.99	Upgrade
Change in Accounts Receivable	72.07	-11.28	-126.42	-472.11	-490.62	-284.41	Upgrade
Change in Accounts Payable	56.36	59.73	178.85	-21.42	-2.93	46.99	Upgrade
Change in Unearned Revenue	-33.56	-9.82	5.37	-10.87	13.41	4.13	Upgrade
Change in Other Net Operating Assets	-288.06	-117.81	-127.28	-222.11	-12.92	-0.39	Upgrade
Operating Cash Flow	61.32	241.36	55.84	-508.95	-131.11	20.4	Upgrade
Operating Cash Flow Growth	-90.72%	332.19%	-	-	-	-	Upgrade
Capital Expenditures	-30.2	-14.26	-29.45	-69.71	-33.14	-23.68	Upgrade
Sale (Purchase) of Intangibles	-263.41	-258.22	-142.38	-	-	-	Upgrade
Investment in Securities	1.04	10.67	-10.12	300	-300	-	Upgrade
Other Investing Activities	-0.12	-	130.6	-300	-	-	Upgrade
Investing Cash Flow	-292.68	-261.81	-51.35	-69.71	-333.14	-23.68	Upgrade
Long-Term Debt Issued	-	6.43	14.42	-	-	-	Upgrade
Long-Term Debt Repaid	-	-2.85	-0.73	-	-	-	Upgrade
Net Debt Issued (Repaid)	216.88	3.58	13.69	-	-	-	Upgrade
Issuance of Common Stock	-	-	-	-	1,110	-	Upgrade
Other Financing Activities	-	-	-	-	-47.7	-	Upgrade
Financing Cash Flow	216.88	3.58	13.69	-	1,063	-	Upgrade
Net Cash Flow	-14.48	-16.88	18.18	-578.67	598.46	-3.28	Upgrade
Free Cash Flow	31.12	227.09	26.39	-578.67	-164.25	-3.28	Upgrade
Free Cash Flow Growth	-95.05%	760.46%	-	-	-	-	Upgrade
Free Cash Flow Margin	2.65%	17.94%	2.87%	-84.23%	-26.27%	-1.18%	Upgrade
Free Cash Flow Per Share	0.19	1.42	0.18	-3.91	-1.04	-0.03	Upgrade
Cash Interest Paid	6.14	4.4	1.6	-	-	-	Upgrade
Cash Income Tax Paid	-	7.62	18.32	-	51.91	0.03	Upgrade
Levered Free Cash Flow	-103.5	-114.12	-53.45	-1,113	-289.15	-60.21	Upgrade
Unlevered Free Cash Flow	-102.41	-114.12	-53.45	-1,113	-289.15	-60.21	Upgrade
Change in Working Capital	-195.49	-79.18	-69.48	-726.51	-493.06	-233.68	Upgrade

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