MDA Space Cash Flow Statement

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

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	109.6	79.4	48.8	26.3	2.9	-23.07
Depreciation & Amortization	64.6	66.3	61.4	62.4	67.4	64.8
Other Amortization	54.1	24.7	16.7	13.8	12.4	12.93
Loss (Gain) From Sale of Assets	-	-5.8	-	-	-	-
Asset Writedown & Restructuring Costs	3.3	3.3	4.8	-	-	-
Stock-Based Compensation	12	10.4	10	8.5	13.5	6.53
Other Operating Activities	14.8	-2.1	-32.6	-27.3	-10.5	-35.07
Change in Accounts Receivable	5.1	9.6	-69.6	-100.2	-18	36.93
Change in Inventory	-7.8	-1.5	-2.4	0.5	-1.5	-1.87
Change in Accounts Payable	82.5	43	66.3	59.6	-1.6	-34.4
Change in Unearned Revenue	425.1	684.4	-35.4	19.3	18.2	33.07
Change in Other Net Operating Assets	-23.1	-96.1	-54.5	-5.9	-10.7	15.33
Operating Cash Flow	740.2	815.6	13.5	57	72.1	75.2
Operating Cash Flow Growth	91.36%	5941.48%	-76.32%	-20.94%	-4.12%	-
Capital Expenditures	-185.8	-138.2	-148	-137.8	-52.5	-3.73
Sale of Property, Plant & Equipment	0.2	7.4	-	-	-	-
Cash Acquisitions	-362.6	-27.3	-24.4	-	-	-1,328
Sale (Purchase) of Intangibles	-81	-62.6	-45.2	-42.3	-40.1	-14
Investment in Securities	-	-9.2	-	-	-6.2	-
Investing Cash Flow	-603	-229.9	-217.6	-180.1	-98.8	-1,346
Long-Term Debt Issued	-	110	195	245	-	-
Total Debt Issued	330	110	195	245	-	759.47
Long-Term Debt Repaid	-	-557.9	-8.4	-157.8	-432	-
Total Debt Repaid	-447.1	-557.9	-8.4	-157.8	-432	-22
Net Debt Issued (Repaid)	-117.1	-447.9	186.6	87.2	-432	737.47
Issuance of Common Stock	58.3	11.8	0.8	0.5	462.6	640.53
Other Financing Activities	-12	-	-	-8.9	-	-
Financing Cash Flow	-70.8	-436.1	187.4	78.8	30.6	1,378
Foreign Exchange Rate Adjustments	-9.9	-5.4	-0.1	-	1.1	-2.67
Net Cash Flow	56.5	144.2	-16.8	-44.3	5	104.8
Free Cash Flow	554.4	677.4	-134.5	-80.8	19.6	71.47
Free Cash Flow Growth	121.23%	-	-	-	-72.58%	-
Free Cash Flow Margin	37.44%	62.72%	-16.65%	-12.60%	4.11%	18.13%
Free Cash Flow Per Share	4.26	5.37	-1.11	-0.66	0.17	0.89
Cash Interest Paid	15.6	25.4	18.5	19.6	24.1	30.93
Cash Income Tax Paid	-	-14.5	6.7	5.2	0.6	3.87
Levered Free Cash Flow	493.43	639.65	-105.65	-95.2	-8.63	-
Unlevered Free Cash Flow	510.36	657.15	-100.28	-83.58	8.13	-
Change in Working Capital	481.8	639.4	-95.6	-26.7	-13.6	49.07

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