TSG IT Advanced Systems Cash Flow Statement

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

Millions ILS. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	21.81	16.33	9.93	10.92	-9.88
Depreciation & Amortization	26.07	24.48	16.64	16.05	12.39
Other Amortization	-	-	2.42	1.6	0.77
Stock-Based Compensation	7.45	8.49	8.49	0.51	1.61
Other Operating Activities	4.37	9.75	10.54	10.13	0.1
Change in Accounts Receivable	11.87	8.03	-10.79	-7.01	22.11
Change in Accounts Payable	0.56	16.41	1.53	1.21	-19.71
Change in Other Net Operating Assets	-21.99	-28.01	1.6	-1.68	26.44
Operating Cash Flow	50.13	55.47	40.35	31.73	33.84
Operating Cash Flow Growth	4.58%	37.46%	27.16%	-6.22%	-
Capital Expenditures	-7.62	-7.47	-2.25	-3.89	-20.68
Cash Acquisitions	-57.06	-46.27	-32.02	-30.9	-61.22
Other Investing Activities	-12.2	-12.37	24.67	43.99	-66.95
Investing Cash Flow	-76.14	-66.11	-9.6	9.2	-148.85
Short-Term Debt Issued	-	-	-	-	21
Long-Term Debt Issued	-	40	-	-	140
Total Debt Issued	40	40	-	-	161
Short-Term Debt Repaid	-	-0.43	-	-21	-
Long-Term Debt Repaid	-	-50.18	-30.56	-10.45	-9.48
Total Debt Repaid	-78.88	-50.6	-30.56	-31.45	-9.48
Net Debt Issued (Repaid)	-38.88	-10.6	-30.56	-31.45	151.53
Issuance of Common Stock	291.25	101.54	57.09	-	-
Common Dividends Paid	-6.78	-5	-	-	-
Other Financing Activities	-	-15.9	-13.48	-14.1	-1.73
Financing Cash Flow	245.59	70.04	13.05	-45.55	149.8
Foreign Exchange Rate Adjustments	-0.47	-0.49	0.71	0.69	1.54
Net Cash Flow	219.1	58.91	44.53	-3.93	36.33
Free Cash Flow	42.51	48	38.11	27.84	13.15
Free Cash Flow Growth	-6.88%	25.97%	36.88%	111.65%	-
Free Cash Flow Margin	9.45%	11.16%	11.83%	9.42%	5.31%
Free Cash Flow Per Share	15.48	18.65	16.83	13.11	6.51
Cash Interest Paid	-	-	8.89	9.24	3.6
Cash Income Tax Paid	-	-	1.08	1.97	2.86
Levered Free Cash Flow	27.33	31.9	109.32	59.48	-
Unlevered Free Cash Flow	38.89	43.36	116.06	66.42	-
Change in Working Capital	-9.56	-3.58	-7.66	-7.48	28.84