eWeLL 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	1,088	1,138	908	676	-
Depreciation & Amortization	106.22	80	59	32	-
Loss (Gain) From Sale of Assets	-	-	2	-	-
Stock-Based Compensation	37.67	-	-	-	-
Other Operating Activities	89.16	-363	-240	-105	-
Change in Accounts Receivable	-127.64	-90	-96	-78	-
Change in Accounts Payable	22.49	38	92	13	-
Change in Unearned Revenue	-26.36	-	-	-	-
Change in Other Net Operating Assets	80.54	53	-99	5	-
Operating Cash Flow	1,270	856	626	543	-
Operating Cash Flow Growth	48.40%	36.74%	15.29%	-	-
Capital Expenditures	-42.19	-17	-186	-16	-
Sale (Purchase) of Intangibles	-79.59	-60	-38	-55	-
Other Investing Activities	-88.59	-	7	-65	-
Investing Cash Flow	-210.38	-77	-217	-136	-
Long-Term Debt Repaid	-	-91	-4	-84	-
Net Debt Issued (Repaid)	-	-91	-4	-84	-
Issuance of Common Stock	12.88	14	37	151	-
Repurchase of Common Stock	-0.12	-	-	-	-
Common Dividends Paid	-181.14	-149	-104	-	-
Other Financing Activities	-	1	-	-16	-
Financing Cash Flow	-168.38	-225	-71	51	-
Miscellaneous Cash Flow Adjustments	0	-1	-1	-	-
Net Cash Flow	891.57	553	337	458	-
Free Cash Flow	1,228	839	440	527	-
Free Cash Flow Growth	46.38%	90.68%	-16.51%	-	-
Free Cash Flow Margin	36.20%	32.63%	21.27%	32.88%	-
Free Cash Flow Per Share	80.38	55.05	57.83	76.39	-
Cash Interest Paid	-	2	3	5	-
Cash Income Tax Paid	369.08	365	240	106	-
Levered Free Cash Flow	1,058	656.75	337.25	381	-
Unlevered Free Cash Flow	1,058	658	339.13	384.13	-
Change in Working Capital	-50.97	1	-103	-60	-

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