EMERGE Commerce Balance Sheet

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
Cash & Equivalents	4.1	3.07	2.54	5.88	7.77	12.39
Cash & Short-Term Investments	4.1	3.07	2.54	5.88	7.77	12.39
Cash Growth	149.56%	20.95%	-56.85%	-24.28%	-37.33%	42.08%
Accounts Receivable	0.42	0.88	1.25	2.85	1.47	0.79
Other Receivables	0.13	0.17	0.18	0.11	0.46	0.51
Receivables	0.55	1.05	1.43	2.96	1.93	1.3
Inventory	2.73	1.32	1.23	5.18	4.72	0.9
Prepaid Expenses	0.46	0.27	0.42	1.15	1.82	0.63
Restricted Cash	0.2	0.09	0.19	0.19	0.19	-
Total Current Assets	8.04	5.8	5.8	15.35	16.42	15.22
Property, Plant & Equipment	0.78	0.09	0.14	0.75	0.82	0.19
Goodwill	2.01	1.74	5.65	19.94	33.14	14.51
Other Intangible Assets	0.3	0.16	11.39	23.7	29.75	13.25
Other Long-Term Assets	-	-	0.01	0.01	0.13	0.28
Total Assets	11.13	7.8	22.99	59.75	80.28	43.46
Accounts Payable	7.36	8.62	8.78	11.72	11.86	10.61
Short-Term Debt	0.24	5.9	15.96	23.92	24.32	7.47
Current Portion of Leases	0.36	0.02	0.06	0.03	0.15	0.11
Current Income Taxes Payable	0.17	-	0.35	0.58	1.01	1.28
Current Unearned Revenue	0.78	0.81	0.96	2.11	2.56	0.98
Other Current Liabilities	0.42	0.2	2.04	4.71	3.1	1.02
Total Current Liabilities	9.34	15.55	28.15	43.07	43.01	21.46
Long-Term Debt	6.78	1.04	2.23	2.03	-	-
Long-Term Leases	0.33	-	-	-	0.03	0.1
Long-Term Deferred Tax Liabilities	0.29	0.04	2.47	3.61	5.41	3.21
Other Long-Term Liabilities	1.96	-	-	0.92	4.82	0.61
Total Liabilities	18.71	16.63	32.86	49.63	53.27	25.38
Common Stock	48.35	47.65	46.04	44.64	43.97	30.09
Retained Earnings	-56.46	-57.09	-57.55	-37.23	-20.03	-15.82
Comprehensive Income & Other	0.54	0.61	1.63	2.7	3.06	3.8
Shareholders' Equity	-7.58	-8.83	-9.87	10.11	27	18.07
Total Liabilities & Equity	11.13	7.8	22.99	59.75	80.28	43.46
Total Debt	7.72	6.96	18.25	25.98	24.5	7.68
Net Cash (Debt)	-3.61	-3.89	-15.71	-20.1	-16.74	4.72
Net Cash Growth	-	-	-	-	-	213.46%
Net Cash Per Share	-0.03	-0.03	-0.14	-0.19	-0.18	0.08
Filing Date Shares Outstanding	149.47	139.22	123.68	106.72	103.78	89.49
Total Common Shares Outstanding	149.47	139.22	123.68	106.35	103.58	88.37
Working Capital	-1.3	-9.75	-22.34	-27.73	-26.58	-6.24
Book Value Per Share	-0.05	-0.06	-0.08	0.10	0.26	0.20
Tangible Book Value	-9.89	-10.73	-26.9	-33.52	-35.89	-9.69
Tangible Book Value Per Share	-0.07	-0.08	-0.22	-0.32	-0.35	-0.11
Buildings	-	-	-	0.61	0.57	-
Machinery	-	-	-	0.19	0.14	0.05

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