Xanadu Quantum Technologies Limited (TSX:XNDU)

TSX:XNDU Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023
Net Income	-58.49	-45.97	-35.59
Depreciation & Amortization	6.33	5.68	4.52
Other Amortization	0.12	0.14	0.16
Stock-Based Compensation	3.58	2.89	2.21
Other Operating Activities	1.35	0.94	0.58
Change in Accounts Receivable	-0.92	0.05	0.09
Change in Inventory	-8.88	-3.19	-0.01
Change in Accounts Payable	2.34	1.27	0.17
Change in Unearned Revenue	1.28	0.31	-0.71
Change in Other Net Operating Assets	-1.67	-3.85	-0.95
Operating Cash Flow	-54.97	-41.74	-29.55
Capital Expenditures	-7.51	-4.77	-8.9
Sale of Property, Plant & Equipment	-	-	0.45
Sale (Purchase) of Intangibles	-2.5	-1.91	-1.52
Investing Cash Flow	-10.01	-6.68	-9.97
Long-Term Debt Issued	-	9.21	6.71
Long-Term Debt Repaid	-	-	-2.51
Net Debt Issued (Repaid)	10.73	9.21	4.2
Issuance of Common Stock	0.11	0.08	0.12
Financing Cash Flow	10.84	9.3	4.31
Foreign Exchange Rate Adjustments	0.03	-0.72	0.67
Net Cash Flow	-54.1	-39.84	-34.54
Free Cash Flow	-62.48	-46.5	-38.45
Free Cash Flow Margin	-1809.41%	-2926.62%	-1550.95%
Free Cash Flow Per Share	-12.65	-9.46	-7.86
Cash Interest Paid	-	-	0.22
Levered Free Cash Flow	-	-34.21	-
Unlevered Free Cash Flow	-	-34	-
Change in Working Capital	-7.85	-5.42	-1.42

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