AvePoint 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	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	34.8	-29.09	-21.73	-41.63	-35.22
Depreciation & Amortization	6.21	5.38	4.69	3.49	1.24
Stock-Based Compensation	39.32	39.06	36.05	37.22	59.51
Provision & Write-off of Bad Debts	4.04	-	-	-	-
Other Operating Activities	11.25	44.79	18.12	8.41	-18.88
Change in Accounts Receivable	-31.3	-4.9	-19.45	-14.39	-8.24
Change in Accounts Payable	3.38	16.05	0.61	-2.55	10.63
Change in Unearned Revenue	40.13	29.44	26.87	20.38	10.81
Change in Other Net Operating Assets	-22.56	-11.83	-10.46	-11.7	-14.8
Operating Cash Flow	85.26	88.89	34.69	-0.77	5.03
Operating Cash Flow Growth	-4.09%	156.22%	-	-	-73.69%
Capital Expenditures	-3.68	-3.04	-2.09	-3.85	-2.46
Cash Acquisitions	-14.89	-	-	-18.57	-
Sale (Purchase) of Intangibles	-1.62	-1.21	-1.43	-1.61	-
Investment in Securities	-	3.53	-0.88	2.59	-0.92
Other Investing Activities	-	-1.88	-1.25	-	-
Investing Cash Flow	-20.2	-2.6	-5.65	-21.45	-3.38
Long-Term Debt Repaid	-	-0.01	-0.06	-0.04	-0.03
Net Debt Issued (Repaid)	-	-0.01	-0.06	-0.04	-0.03
Issuance of Common Stock	185.9	28.22	5.57	2.82	447.14
Repurchase of Common Stock	-49.75	-33.05	-39.04	-19.93	-107.8
Other Financing Activities	-12.16	-10.69	-0.14	-	-9.78
Financing Cash Flow	123.99	-15.54	-33.67	-17.15	198.62
Foreign Exchange Rate Adjustments	1.28	-3.18	0.6	-1.66	-1.17
Net Cash Flow	190.33	67.57	-4.03	-41.03	199.11
Free Cash Flow	81.57	85.85	32.61	-4.63	2.57
Free Cash Flow Growth	-4.98%	163.29%	-	-	-85.80%
Free Cash Flow Margin	19.45%	25.98%	12.00%	-1.99%	1.34%
Free Cash Flow Per Share	0.36	0.47	0.18	-0.03	0.02
Cash Income Tax Paid	6.83	6.88	6.11	3.32	4.04
Levered Free Cash Flow	38.55	84.48	39.42	22.73	30.88
Unlevered Free Cash Flow	38.55	84.48	39.42	22.76	30.88
Change in Working Capital	-10.35	28.75	-2.43	-8.27	-1.62

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