Carna Biosciences Cash Flow Statement

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

Millions JPY. 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	-2,169	-2,173	-1,130	-1,323	-532
Depreciation & Amortization	-	31	35	33	19
Loss (Gain) From Sale of Assets	24	93	4	44	9
Other Operating Activities	18	-18	-35	-16	49
Change in Accounts Receivable	-14	704	-599	1,069	-1,110
Change in Inventory	-	-14	-21	-8	-5
Change in Accounts Payable	-15	-38	-44	-73	-20
Change in Other Net Operating Assets	-3	41	113	-434	54
Operating Cash Flow	-2,159	-1,374	-1,677	-708	-1,536
Capital Expenditures	-9	-13	-11	-126	-41
Investment in Securities	-15	-	-	-	-
Other Investing Activities	-1	-	-	1	-
Investing Cash Flow	-25	-13	-11	-125	-41
Long-Term Debt Issued	632	-	-	-	300
Long-Term Debt Repaid	-19	-120	-151	-239	-190
Net Debt Issued (Repaid)	613	-120	-151	-239	110
Issuance of Common Stock	-	694	1,343	606	957
Other Financing Activities	-9	-7	-10	-	-3
Financing Cash Flow	604	567	1,182	367	1,064
Foreign Exchange Rate Adjustments	-12	39	16	28	31
Miscellaneous Cash Flow Adjustments	1	1	1	-	1
Net Cash Flow	-1,591	-780	-489	-438	-481
Free Cash Flow	-2,168	-1,387	-1,688	-834	-1,577
Free Cash Flow Margin	-374.44%	-218.08%	-103.88%	-60.17%	-78.19%
Free Cash Flow Per Share	-113.44	-77.44	-100.48	-61.24	-124.22
Cash Interest Paid	3	2	3	5	4
Cash Income Tax Paid	-13	18	33	18	-40
Levered Free Cash Flow	-1,411	-662.38	-1,290	-364.5	-1,451
Unlevered Free Cash Flow	-1,379	-660.5	-1,287	-360.75	-1,449
Change in Working Capital	-32	693	-551	554	-1,081

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.