Electrovaya Inc. (TSX:ELVA)

Electrovaya Cash Flow Statement

Financials in millions USD. Fiscal year is October - September.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2025	Sep 30, 2024	Sep 30, 2023	Sep 30, 2022	Sep 30, 2021
Net Income	3.36	-1.49	-1.48	-9.21	-7.53
Depreciation & Amortization	1.45	1.21	0.91	0.5	0.32
Loss (Gain) From Sale of Assets	0.07	-	-	-	-
Stock-Based Compensation	1.76	2.16	1.17	3.22	0.54
Provision & Write-off of Bad Debts	-	0.05	-	-	-
Other Operating Activities	2.19	1.36	2.29	3.03	1.16
Change in Accounts Receivable	-5.18	-0.73	-7.85	-1.63	1.15
Change in Inventory	-3.04	-1.42	-0.72	-2.79	-2.64
Change in Accounts Payable	0.07	1.59	2.55	0.04	-0.67
Change in Unearned Revenue	-	-	-	-	-1.08
Change in Other Net Operating Assets	1.04	-1.69	-2.1	-2	0.63
Operating Cash Flow	1.72	1.04	-5.24	-8.83	-8.12
Operating Cash Flow Growth	65.41%	-	-	-	-
Capital Expenditures	-4.61	-0.13	-0.51	-0.2	-0.56
Other Investing Activities	-7.43	-0.54	-0.4	-0.01	-
Investing Cash Flow	-12.04	-0.67	-0.9	-0.21	-0.56
Short-Term Debt Issued	79.76	52.25	35.73	21.52	-
Long-Term Debt Issued	4.37	-	-	-	0.01
Total Debt Issued	84.13	52.25	35.73	21.52	0.01
Short-Term Debt Repaid	-78.41	-47.81	-39.13	-11.44	-1.53
Long-Term Debt Repaid	-2.36	-2.61	-1.46	-0.89	-0.11
Total Debt Repaid	-80.78	-50.42	-40.59	-12.33	-1.64
Net Debt Issued (Repaid)	3.35	1.83	-4.86	9.19	-1.64
Issuance of Common Stock	16.38	0.13	10.19	0.81	12.94
Other Financing Activities	-3.83	-2.59	1.22	-2.11	-0.39
Financing Cash Flow	15.9	-0.63	6.55	7.89	10.92
Foreign Exchange Rate Adjustments	-	0.01	-0.01	-2.43	0.84
Net Cash Flow	5.58	-0.25	0.41	-3.58	3.08
Free Cash Flow	-2.89	0.91	-5.74	-9.03	-8.68
Free Cash Flow Margin	-4.53%	2.05%	-13.03%	-55.49%	-74.90%
Free Cash Flow Per Share	-0.07	0.03	-0.17	-0.31	-0.31
Cash Interest Paid	2.12	2.23	1.79	2.31	1.44
Levered Free Cash Flow	-6.53	-2.67	-5.26	-8.68	-6.85
Unlevered Free Cash Flow	-4.81	-0.36	-3.72	-6.78	-5.18
Change in Working Capital	-7.12	-2.26	-8.12	-6.37	-2.6

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.