Elad Software Systems Cash Flow Statement

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

Millions ILS. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	26.92	22.64	14.55	8.49
Depreciation & Amortization	10.64	10.67	11.28	10.71
Stock-Based Compensation	5.02	4.35	-	-
Other Operating Activities	9.31	7.82	4.33	6.37
Change in Accounts Receivable	-3.41	-19.44	-37.25	-15.2
Change in Accounts Payable	-1.46	-4.08	2.59	-0.53
Change in Other Net Operating Assets	2.02	8.38	17.83	10.16
Operating Cash Flow	49.05	30.33	13.33	20.01
Operating Cash Flow Growth	-	127.61%	-33.41%	-
Capital Expenditures	-2.34	-2.04	-1.47	-3.11
Cash Acquisitions	-0.9	-	-1.57	-1.62
Sale (Purchase) of Intangibles	-7.52	-5.5	-4.19	-2.59
Investing Cash Flow	-10.76	-7.54	-7.22	-7.31
Short-Term Debt Issued	-	18.49	9.13	-
Total Debt Issued	-6.46	18.49	9.13	-
Short-Term Debt Repaid	-	-26.08	-1.2	-4.65
Long-Term Debt Repaid	-	-6.68	-8.35	-8.91
Total Debt Repaid	-33.04	-32.77	-9.55	-13.56
Net Debt Issued (Repaid)	-39.49	-14.28	-0.42	-13.56
Other Financing Activities	-4.71	-4.75	-3.8	-1.93
Financing Cash Flow	33.92	-19.02	-4.22	-15.49
Net Cash Flow	72.2	3.76	1.89	-2.79
Free Cash Flow	46.71	28.29	11.86	16.9
Free Cash Flow Growth	-	138.53%	-29.84%	-
Free Cash Flow Margin	9.05%	5.80%	2.58%	4.32%
Free Cash Flow Per Share	1.04	0.70	0.30	-
Cash Interest Paid	4.71	4.75	3.8	1.93
Cash Income Tax Paid	3.2	5.1	5.58	3.23
Levered Free Cash Flow	30.25	15.12	-2.45	-
Unlevered Free Cash Flow	34.11	20.06	1.88	-
Change in Working Capital	-2.85	-15.14	-16.83	-5.57

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