BrainsWay 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	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
Net Income	6.25	2.92	-4.2	-13.35	-6.46	-5.39
Depreciation & Amortization	1.89	1.77	1.34	1.53	1.69	1.62
Asset Writedown & Restructuring Costs	0.51	1.52	1.45	0.82	1.3	1.06
Stock-Based Compensation	1.3	1.44	0.38	1.47	1.89	0.8
Other Operating Activities	-0.42	0.26	0.68	1.22	1.4	0.29
Change in Accounts Receivable	-1.58	-0.87	1.09	1.46	-0.85	-0.01
Change in Inventory	-0.04	-0.92	-0.51	-3.6	-	-
Change in Accounts Payable	1.47	2.12	-0.33	-	0.29	-0.55
Change in Unearned Revenue	11.15	0.28	1.63	0.79	2.04	0.32
Change in Other Net Operating Assets	1.74	1.78	-0.25	-0.11	-0.41	0.42
Operating Cash Flow	22.27	10.3	1.28	-9.76	0.88	-1.44
Operating Cash Flow Growth	140.06%	702.02%	-	-	-	-
Capital Expenditures	-3.93	-3.79	-2.39	-	-2.24	-2.47
Sale of Property, Plant & Equipment	-	-	-	1.94	-	-
Investment in Securities	-13.27	34.03	-35.02	40.23	-40	-
Other Investing Activities	-1.1	0.08	-	-	0.02	0.01
Investing Cash Flow	-18.3	30.31	-37.41	42.17	-42.22	-2.47
Long-Term Debt Repaid	-	-0.42	-0.27	-0.53	-0.48	-0.42
Net Debt Issued (Repaid)	-0.31	-0.42	-0.27	-0.53	-0.48	-0.42
Issuance of Common Stock	16.35	16.37	-	-	42.26	-
Other Financing Activities	2.32	2.32	-0.76	-1.01	-0.27	-0.61
Financing Cash Flow	18.36	18.26	-1.03	-1.55	41.52	-1.03
Foreign Exchange Rate Adjustments	0	-0.05	0.09	-0.2	-0.22	0.22
Net Cash Flow	22.33	58.83	-37.06	30.66	-0.04	-4.71
Free Cash Flow	18.34	6.5	-1.1	-9.76	-1.35	-3.91
Free Cash Flow Margin	37.36%	15.86%	-3.47%	-35.91%	-4.57%	-17.71%
Free Cash Flow Per Share	0.45	0.19	-0.03	-0.30	-0.04	-0.17
Cash Interest Paid	0.11	0.12	0.25	0.05	0.06	0.07
Cash Income Tax Paid	0.65	1.01	0.01	0.44	0.01	0.25
Levered Free Cash Flow	8.87	3.66	-1.65	-8.74	-1.34	-3.7
Unlevered Free Cash Flow	10.03	4.44	-1.12	-7.99	-0.57	-3.19
Change in Working Capital	12.74	2.39	1.64	-1.45	1.07	0.18

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

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