Blackedge Cash Flow Statement

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

Millions ILS. 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	29.46	35.47	43.82	27.62	18.72
Depreciation & Amortization	1.53	1.39	1.19	1.21	0.39
Loss (Gain) From Sale of Investments	-7.67	-7.67	-0.96	13.76	-11.36
Stock-Based Compensation	0.53	0.39	0.42	0.29	0.92
Change in Other Net Operating Assets	40.99	-261.83	33.55	-280.49	-119.12
Other Operating Activities	-18.08	2.94	1.15	0.38	1.56
Operating Cash Flow	46.63	-229.26	79.17	-237.22	-108.89
Capital Expenditures	-0.6	-0.04	-0.34	-1.49	-0.15
Sale of Property, Plant & Equipment	-	0.11	-	-	-
Sale (Purchase) of Intangibles	-7.09	-0.37	-0.93	-0.94	-
Investment in Securities	-26.83	14.16	-0.14	-	-0.51
Investing Cash Flow	-34.52	13.85	-1.41	-2.44	-0.66
Long-Term Debt Issued	-	323.06	-	272.49	118.57
Long-Term Debt Repaid	-144.01	-124.95	-58.62	-49.85	-16.95
Net Debt Issued (Repaid)	-144.01	198.11	-58.62	222.64	101.61
Issuance of Common Stock	163.73	18.85	-	20	23.43
Repurchase of Common Stock	-16.37	-3.61	-6.17	-	-
Common Dividends Paid	-	-	-6.5	-	-
Other Financing Activities	-0.24	0.11	-	-	-
Financing Cash Flow	3.12	213.45	-71.29	242.64	125.04
Net Cash Flow	15.23	-1.96	6.48	2.99	15.49
Free Cash Flow	46.03	-229.31	78.83	-238.71	-109.04
Free Cash Flow Margin	86.75%	-330.98%	83.31%	-297.78%	-346.75%
Free Cash Flow Per Share	27.68	-143.43	48.88	-129.39	-67.80
Cash Interest Paid	44.34	39.29	31.11	22.24	8.15
Cash Income Tax Paid	18.55	8.63	3.42	2.57	0.47

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