Black Rock Coffee Bar Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Net Income	-4.94	-7.21	-8.82
Depreciation & Amortization	11.89	10.36	8.52
Other Amortization	1.39	1.32	1.15
Loss (Gain) From Sale of Assets	0.2	0.52	-0.4
Other Operating Activities	-17.26	-7.73	-6.05
Change in Accounts Receivable	-0.43	-3.53	0.29
Change in Inventory	-1.06	-0.6	0.33
Change in Accounts Payable	2.81	0.03	-1.76
Change in Unearned Revenue	0.5	0.41	-1.11
Change in Other Net Operating Assets	7.28	19.73	13
Operating Cash Flow	1.24	13.31	5.17
Operating Cash Flow Growth	-75.92%	157.50%	-
Capital Expenditures	-26.86	-22.18	-16.16
Sale (Purchase) of Intangibles	-0.6	-0.75	-0.25
Other Investing Activities	-	-	0.96
Investing Cash Flow	-27.46	-22.92	-15.45
Long-Term Debt Issued	-	12.5	-
Long-Term Debt Repaid	-	-0.89	-0.8
Net Debt Issued (Repaid)	-72.98	11.61	-0.8
Issuance of Common Stock	314.56	-	5.9
Preferred Dividends Paid	-	-0.15	-
Common Dividends Paid	-	-0.47	-8.09
Dividends Paid	-	-0.62	-8.09
Other Financing Activities	-9.44	-3.77	-0.45
Financing Cash Flow	46	2.64	21.56
Net Cash Flow	19.78	-6.97	11.28
Free Cash Flow	-25.61	-8.87	-10.99
Free Cash Flow Margin	-13.52%	-5.51%	-8.25%
Cash Interest Paid	11.61	10.14	9.41
Cash Income Tax Paid	0.34	0.28	0.2
Levered Free Cash Flow	-	-13.82	-
Unlevered Free Cash Flow	-	-7.79	-
Change in Working Capital	9.09	16.04	10.76

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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