Vox Royalty 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	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	5.89	-1.65	-0.1	0.33	-4.13
Depreciation & Amortization	6.72	3.32	2.52	2.03	1.16
Stock-Based Compensation	1.99	2.14	1.66	1.05	1.41
Other Adjustments	-4.43	0.91	2.91	-0.45	0.53
Change in Receivables	0.06	0.59	-1.51	-1.45	0.55
Changes in Accounts Payable	1.2	-0.2	-0.13	0.57	0.93
Changes in Income Taxes Payable	-0.58	0.38	-0.07	0.19	0.4
Changes in Other Operating Activities	-0.12	-0.03	-0.02	-0.22	-0.06
Operating Cash Flow	10.74	5.46	5.27	2.05	0.77
Operating Cash Flow Growth	96.68%	3.56%	157.48%	166.44%	-
Purchases of Intangible Assets	-73.81	-3.69	-5.43	-4.65	-9.37
Proceeds from Sale of Investments	-	-	-	1.55	-
Other Investing Activities	-	0.54	0.1	0.46	0.01
Investing Cash Flow	-73.81	-3.16	-5.33	-2.64	-9.35
Long-Term Debt Issued	16.7	-	-	-	-
Long-Term Debt Repaid	10	-	-	-	-
Net Long-Term Debt Issued (Repaid)	26.7	-	-	-	-
Issuance of Common Stock	63.25	-	8.35	0.53	13.4
Repurchase of Common Stock	-	-	-	0.45	1.78
Net Common Stock Issued (Repurchased)	63.25	-	8.35	0.99	15.18
Common Dividends Paid	-2.71	-2.27	-2.01	-0.45	-
Other Financing Activities	-4.81	-0.6	-1.09	-0.03	-0.98
Financing Cash Flow	62.43	-2.87	5.25	-0.4	10.64
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-0.04	-0.03	-0.02	0.1	-0.15
Net Cash Flow	-0.63	-0.56	5.19	-0.99	2.06
Free Cash Flow	10.74	5.46	5.27	2.05	0.77
Free Cash Flow Growth	96.68%	3.56%	157.48%	166.44%	-
FCF Margin	64.60%	49.41%	42.82%	24.06%	21.04%
Free Cash Flow Per Share	0.19	0.11	0.11	0.05	0.02
Levered Free Cash Flow	39.81	1.82	2.2	2.89	-1.72
Unlevered Free Cash Flow	8.54	1.62	2.23	2.65	-4.6

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