Gemini Space Station 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	-468.98	-158.55	-319.68
Depreciation & Amortization	31.49	32.96	32.22
Asset Writedown & Restructuring Costs	0.38	0.38	21.4
Stock-Based Compensation	50.07	5.6	15.84
Other Operating Activities	150.43	91.49	24.84
Change in Accounts Receivable	4.03	-0.25	-27.64
Change in Accounts Payable	13.85	-143.77	67.2
Change in Other Net Operating Assets	133.93	63.17	-21.49
Operating Cash Flow	-84.81	-108.96	-207.29
Capital Expenditures	-2.29	-1.23	-0.73
Sale (Purchase) of Intangibles	-5.17	-4.75	-6.21
Investment in Securities	-0.06	-0.35	0.3
Other Investing Activities	107.64	145.49	56.54
Investing Cash Flow	7.79	83.61	33.22
Short-Term Debt Issued	-	10	140.14
Long-Term Debt Issued	-	24.57	75.43
Total Debt Issued	198.39	34.57	215.57
Short-Term Debt Repaid	-	-	-38.64
Total Debt Repaid	-50.15	-	-38.64
Net Debt Issued (Repaid)	148.24	34.57	176.93
Other Financing Activities	89.99	190.81	-698.37
Financing Cash Flow	678.04	225.38	-521.44
Net Cash Flow	601.03	200.03	-695.51
Free Cash Flow	-87.09	-110.19	-208.02
Free Cash Flow Margin	-53.59%	-77.51%	-211.97%
Free Cash Flow Per Share	-4.17	-6.85	-13.19
Cash Interest Paid	40.94	21.68	29.76
Cash Income Tax Paid	0.66	0.49	1.14
Levered Free Cash Flow	-	-429.04	-
Unlevered Free Cash Flow	-	-394.66	-
Change in Working Capital	151.8	-80.84	18.07

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

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