Galaxy Software Services Cash Flow Statement

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

Millions TWD. 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	274.33	216	198.82	172.31	132.9
Depreciation & Amortization	23.48	20.27	18.71	15.11	11.72
Other Amortization	4.8	3.78	5.22	6.38	4.9
Loss (Gain) From Sale of Assets	-	-	-	0.09	-
Loss (Gain) on Equity Investments	0.87	0.86	0.77	-	-
Stock-Based Compensation	5.99	23.17	10.55	-	0.53
Provision & Write-off of Bad Debts	0.31	0.39	0.06	-0.21	-0.16
Other Operating Activities	-8.79	-18.75	3.67	-0.15	-2.32
Change in Accounts Receivable	-63.21	63.83	-94.52	-51.96	-45.26
Change in Inventory	24.22	-6.83	-10.96	3.37	-11.62
Change in Accounts Payable	366.23	8.01	11.84	10.88	-8.82
Change in Unearned Revenue	16.98	29.79	135.21	101.67	138.37
Change in Other Net Operating Assets	-326.82	-2.89	-71.38	62.98	-15.83
Operating Cash Flow	318.37	337.62	207.99	320.47	204.41
Operating Cash Flow Growth	-5.70%	62.32%	-35.10%	56.78%	-9.40%
Capital Expenditures	-2.76	-5.77	-23.46	-97.24	-652.06
Sale (Purchase) of Intangibles	-13.58	-1.86	-2.7	-7.63	-4.96
Sale (Purchase) of Real Estate	-	-	-	-44.06	-
Investment in Securities	-176.91	-28.61	-18.28	1.11	-8.44
Other Investing Activities	-127.77	-0.57	1.95	10.27	-1.64
Investing Cash Flow	-321.01	-36.81	-42.48	-137.54	-667.1
Long-Term Debt Issued	-	-	-	39.2	330
Long-Term Debt Repaid	-19.99	-146.06	-5.54	-3.29	-7.03
Total Debt Repaid	-19.99	-146.06	-5.54	-3.29	-7.03
Net Debt Issued (Repaid)	-19.99	-146.06	-5.54	35.91	322.97
Common Dividends Paid	-130.91	-98.33	-78	-62.26	-58.74
Other Financing Activities	-0.29	-1.1	0.13	-0.43	2.93
Financing Cash Flow	-151.19	-245.49	-83.41	-26.78	267.16
Foreign Exchange Rate Adjustments	0.02	0.01	-0.02	0.04	-0.04
Net Cash Flow	-153.8	55.34	82.08	156.19	-195.57
Free Cash Flow	315.62	331.85	184.53	223.23	-447.65
Free Cash Flow Growth	-4.89%	79.83%	-17.34%	-	-
Free Cash Flow Margin	15.63%	19.12%	11.61%	15.64%	-37.90%
Free Cash Flow Per Share	8.46	8.87	4.98	6.04	-12.11
Cash Interest Paid	4.25	6.76	6.58	4.21	0.51
Cash Income Tax Paid	49.19	55.68	32.58	22.29	22.05
Levered Free Cash Flow	277.19	280.81	123.2	170.25	-491.69
Unlevered Free Cash Flow	279.84	285.04	127.31	172.88	-491.38
Change in Working Capital	17.39	91.9	-29.8	126.94	56.83

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.