Heron Neutron Medical Cash Flow Statement

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

Millions TWD. 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	-457.6	-481.67	-260.08	-126.39	-86.18
Depreciation & Amortization	41.83	39.51	20.03	14.07	12.55
Other Amortization	0.12	0.12	0.57	1.31	1.41
Loss (Gain) From Sale of Assets	-	-	7.05	-	-
Loss (Gain) From Sale of Investments	-	-	-	-0.49	-1.31
Stock-Based Compensation	155.9	161.83	22.55	2.32	-
Other Operating Activities	-3.24	-2.97	-0.64	-0.29	-0.01
Change in Accounts Receivable	-0.76	-0.33	-	-	-
Change in Inventory	-73.14	-60.97	-6.37	-	-
Change in Accounts Payable	8.17	13.03	0.22	-	2.97
Change in Other Net Operating Assets	-185.86	-152.96	-43.3	-93.83	-173.46
Operating Cash Flow	-517.7	-484.4	-259.97	-54.57	-62.05
Capital Expenditures	-43.64	-27.81	-42.22	-56.19	-111.1
Sale of Property, Plant & Equipment	-	-	-	-	0.57
Sale (Purchase) of Intangibles	-0.27	-2.27	-	-	-2.88
Investment in Securities	-8,713	-8,734	-100	-	-
Other Investing Activities	-0.51	2	-6.76	-	-0.24
Investing Cash Flow	-8,758	-8,762	-148.98	-56.19	-113.65
Long-Term Debt Repaid	-	-4.57	-3.9	-3.84	-3.54
Net Debt Issued (Repaid)	-5.52	-4.57	-3.9	-3.84	-3.54
Issuance of Common Stock	10,867	10,875	903.55	340	182
Financing Cash Flow	10,861	10,871	899.65	336.16	178.46
Net Cash Flow	1,587	1,625	490.7	225.4	2.77
Free Cash Flow	-561.35	-512.21	-302.19	-110.76	-173.14
Free Cash Flow Margin	-4330.03%	-4969.02%	-	-46536.13%	-
Free Cash Flow Per Share	-3.56	-3.52	-2.37	-1.03	-2.27
Cash Interest Paid	0.14	0.14	0.18	0.24	0.28
Cash Income Tax Paid	3.72	3.72	0.64	0.29	0.01
Levered Free Cash Flow	-447.24	-375.66	-199.96	-134.13	-
Unlevered Free Cash Flow	-446.54	-375.57	-199.85	-133.98	-
Change in Working Capital	-254.71	-201.23	-49.45	54.91	11.51

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