Hut 8 Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Jun '23 Jun 30, 2023
Net Income	-248	331.41	-65.61
Depreciation & Amortization	101.9	47.77	18.78
Stock-Based Compensation	57.8	20.78	4.61
Other Adjustments	237.42	-721.94	22.39
Changes in Accrued Interest and Accounts Receivable	-26.37	-0.72	0.53
Changes in Accounts Payable	-8.35	3.33	1.53
Changes in Other Operating Activities	-10.85	-10.22	-7.23
Operating Cash Flow	-139.23	-68.54	-29.34
Payments for Business Acquisitions	-	-6.38	-
Proceeds from Business Divestments	0.89	-	-
Capital Expenditures	-216.93	-163.6	-15.04
Purchases of Intangible Assets	-431.16	-100.99	-
Sale of Property, Plant & Equipment	5.87	4.85	0.26
Other Investing Activities	-112.89	74.48	40.03
Investing Cash Flow	-754.21	-188.47	25.25
Long-Term Debt Issued	285	14.85	14.24
Long-Term Debt Repaid	-49.55	-36.77	-20.84
Net Long-Term Debt Issued (Repaid)	235.45	-21.92	-6.6
Issuance of Common Stock	757.7	162.53	-
Repurchase of Common Stock	-	-0.04	-
Net Common Stock Issued (Repurchased)	757.7	162.49	-
Other Financing Activities	12.15	22.2	-
Financing Cash Flow	856.13	311.95	-6.6
Effect of Exchange Rate Changes on Cash and Cash Equivalents	0.29	-0.26	-10.69
Net Cash Flow	-37.02	54.68	10.38
Free Cash Flow	-356.15	-232.14	-44.38
FCF Margin	-167.73%	-142.95%	-54.01%
Free Cash Flow Per Share	-3.38	-2.30	-1.07
Levered Free Cash Flow	-151.3	186.52	-73.64
Unlevered Free Cash Flow	-160.6	-123.44	-1.43

Updated Dec 31, 2025. Data Source: Fiscal.ai. Banks template. Financial Sources.