Software Mansion Cash Flow Statement

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

Millions PLN. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	14.83	20.54	28.89	11.06	17.15
Depreciation & Amortization	2.8	1.53	1.12	0.47	0.99
Stock-Based Compensation	5.14	-	-	-	-
Other Adjustments	0.31	1.5	1.02	5.93	3.33
Change in Receivables	-4.59	2.6	-9.02	-2.28	-3.94
Changes in Inventories	0.38	0.15	-0.01	-0.24	-0
Changes in Accounts Payable	2.75	1.72	2.36	0.23	1.45
Changes in Accrued Expenses	-3.07	-1.69	1.78	0.41	3.65
Changes in Other Operating Activities	-0.19	-0	0.01	-1.04	-0.79
Operating Cash Flow	18.39	26.34	26.15	14.54	21.85
Operating Cash Flow Growth	-43.73%	0.72%	79.86%	-33.46%	-
Purchases of Intangible Assets	-6.91	-6.65	-2.28	-5.27	-1.15
Proceeds from Sale of Intangible Assets	0.05	0.04	0.06	0.01	0.01
Purchases of Investments	-0.02	-	-	-	-
Other Investing Activities	0.96	1.04	0.55	0.72	0.1
Investing Cash Flow	-5.9	-5.56	-1.67	-5.14	-1.04
Issuance of Common Stock	0.02	0.01	0.02	0.02	0.02
Net Common Stock Issued (Repurchased)	0.02	0.01	0.02	0.02	0.02
Common Dividends Paid	-21.29	-21.29	-10.15	-8.22	-14.61
Other Financing Activities	0	-0	-	-	-
Financing Cash Flow	-21.27	-21.28	-10.14	-8.2	-14.59
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-0	-	0	0.02	0.02
Net Cash Flow	-8.78	-0.51	14.35	1.2	6.21
Free Cash Flow	18.39	26.34	26.15	14.54	21.85
Free Cash Flow Growth	-43.73%	0.72%	79.86%	-33.46%	-
FCF Margin	21.03%	22.33%	26.22%	19.67%	34.79%
Free Cash Flow Per Share	1.73	2.48	2.48	1.40	2.15
Levered Free Cash Flow	20.56	22.24	34.15	10.89	22.46
Unlevered Free Cash Flow	20.51	24.21	33.29	11.33	21.9