Progate Group 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	81.39	62.73	160.11	73.27	58.15
Depreciation & Amortization	5.6	4.52	3.66	3.25	3.28
Other Amortization	44.67	30.99	0.01	-	-
Loss (Gain) From Sale of Investments	-3.31	0.32	-0.72	33.43	0.12
Stock-Based Compensation	-	14.69	-	16.43	-
Provision & Write-off of Bad Debts	2.84	-	-	-	-
Other Operating Activities	30.97	-23.83	8.53	18.21	9.48
Change in Accounts Receivable	0.19	73.71	-96.12	-5.1	-14.6
Change in Inventory	-23.97	31.85	19.95	-86.68	24.75
Change in Accounts Payable	-24.53	-30.96	22.02	20.15	9.41
Change in Unearned Revenue	312.22	30.44	-16.75	33.68	36.67
Change in Other Net Operating Assets	-344.16	43.29	3.13	-31.02	-15.43
Operating Cash Flow	46.94	144.67	114.06	45.13	126.01
Operating Cash Flow Growth	-67.55%	26.83%	152.75%	-64.19%	241.73%
Capital Expenditures	-	-	-5.41	-3.84	-0.21
Sale (Purchase) of Intangibles	-52.53	-45.1	-0.24	-	-
Sale (Purchase) of Real Estate	-4.37	-4.14	-	-	-
Other Investing Activities	-1.45	-0.62	-0.97	-0	0.39
Investing Cash Flow	-58.35	-49.87	-6.62	-3.84	0.19
Long-Term Debt Repaid	-0.8	-1.76	-1.03	-1.12	-1.1
Net Debt Issued (Repaid)	-0.8	-1.76	-1.03	-1.12	-1.1
Issuance of Common Stock	-	329.18	-	281.16	-
Common Dividends Paid	-63.27	-85.89	-56.02	-	-
Other Financing Activities	-	-	-5.11	1.34	-
Financing Cash Flow	-64.07	241.52	-62.16	281.38	-1.1
Foreign Exchange Rate Adjustments	-16.81	19.38	-1.49	13.01	-1.57
Net Cash Flow	-92.29	355.71	43.8	335.68	123.53
Free Cash Flow	46.94	144.67	108.65	41.29	125.81
Free Cash Flow Growth	-67.55%	33.15%	163.14%	-67.18%	248.72%
Free Cash Flow Margin	3.48%	21.20%	9.84%	4.42%	22.45%
Free Cash Flow Per Share	1.19	3.80	2.91	1.24	3.79
Cash Interest Paid	0.1	0.1	0.04	0.04	0.04
Cash Income Tax Paid	8.02	37.85	36.65	1.03	-
Levered Free Cash Flow	-42.68	212.88	58.44	61.29	88.61
Unlevered Free Cash Flow	-42.62	212.94	58.47	61.31	88.64
Change in Working Capital	-115.23	55.25	-57.53	-99.46	54.99

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