Xbrane Biopharma AB Cash Flow Statement

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

Millions SEK. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 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	100.52	-266.22	-388.17	-172.51	-188.38	-226.03
Depreciation & Amortization	9.42	24.21	21.43	16.58	12.22	5.77
Other Amortization	-	-	-	-	-	0.79
Stock-Based Compensation	-	-	-	-	-	1.29
Other Operating Activities	-258.75	67.22	145.36	-7.25	-5.04	-1.61
Change in Accounts Receivable	154.07	-4.56	-85.13	1.7	-61.09	-51.33
Change in Inventory	11.52	-166	-56.6	-50.26	-	-
Change in Accounts Payable	-278.49	212.82	22.57	-	-	-
Change in Other Net Operating Assets	-	-	-	17.83	22.67	32.7
Operating Cash Flow	-89.22	-133.73	-406.68	-193.92	-219.61	-238.41
Capital Expenditures	-109.96	-0.5	-6.79	-11.62	-27.68	-3.86
Sale (Purchase) of Intangibles	-51.75	-51.75	-9.98	-48.51	-49.67	-
Other Investing Activities	102.5	-	-	-	-	-
Investing Cash Flow	-59.21	-52.25	-16.77	-60.13	-77.35	-3.86
Long-Term Debt Issued	-	70	225	-	-	-
Long-Term Debt Repaid	-	-126.14	-34.74	-8.34	-7.27	-3.14
Total Debt Repaid	-51.03	-126.14	-34.74	-8.34	-7.27	-3.14
Net Debt Issued (Repaid)	-11.03	-56.14	190.26	-8.34	-7.27	-3.14
Issuance of Common Stock	240	337.24	120.02	170.55	380.87	346.45
Other Financing Activities	-14.04	-37.48	-11.58	-13.35	-24.23	-20.58
Financing Cash Flow	214.93	243.62	298.7	148.86	349.37	322.72
Foreign Exchange Rate Adjustments	-4.01	0.84	-4.49	4.05	1.39	-1.52
Miscellaneous Cash Flow Adjustments	0.48	0.44	0.64	-0.05	-1.76	-
Net Cash Flow	62.97	58.93	-128.59	-101.19	52.04	78.94
Free Cash Flow	-199.18	-134.23	-413.47	-205.53	-247.29	-242.26
Free Cash Flow Margin	-76.70%	-67.55%	-173.20%	-356.72%	-2309.16%	-
Free Cash Flow Per Share	-10.75	-13.64	-1800.48	-1004.76	-1310.16	-1671.85
Cash Interest Paid	17.65	17.65	7.58	2.59	2.64	0.69
Levered Free Cash Flow	-219.3	-67	-244	-169.78	-279.72	-153.39
Unlevered Free Cash Flow	-204.16	-45.98	-232.43	-168.17	-278.07	-152.96
Change in Working Capital	-112.9	42.27	-119.16	-30.73	-38.42	-18.63

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