MDA Space Cash Flow Statement

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

Millions CAD. 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	152.4	111	67.3	34.2	11.3
Depreciation & Amortization	140.6	91	78.1	76.2	79.8
Stock-Based Compensation	12.8	10.4	10	8.5	13.5
Other Adjustments	-41.9	-25.3	-21.1	-10.4	5.8
Change in Receivables	54.6	6.7	-	-	-
Changes in Inventories	-12.5	-1.5	-	-	-
Changes in Accounts Payable	50.9	43	-	-	-
Changes in Accrued Expenses	19.1	6.1	-	-	-
Changes in Income Taxes Payable	4.3	14.5	-6.7	-5.2	-0.6
Changes in Unearned Revenue	26	684.4	-	-	-
Changes in Other Operating Activities	155.5	508.9	-114.1	-46.3	-37.7
Operating Cash Flow	407.5	812.7	13.5	57	72.1
Operating Cash Flow Growth	-49.86%	5920.00%	-76.32%	-20.94%	27.84%
Capital Expenditures	-175.3	-141.2	-148	-137.8	-52.5
Sale of Property, Plant & Equipment	0.2	7.4	-	-	-
Purchases of Intangible Assets	-100.1	-63.7	-45.2	-42.3	-42.1
Proceeds from Sale of Intangible Assets	-	-	-	-	2
Purchases of Investments	-10	-9.2	-	-	-6.2
Payments for Business Acquisitions	-362.6	-27.3	-24.4	-	-
Other Investing Activities	33.2	7	-	-	-
Investing Cash Flow	-614.6	-227	-217.6	-180.1	-98.8
Long-Term Debt Issued	645	110	-	245	-
Long-Term Debt Repaid	-478.4	-557.9	186.6	-157.8	-432
Net Long-Term Debt Issued (Repaid)	166.6	-447.9	186.6	87.2	-432
Issuance of Common Stock	50	11.8	0.8	0.5	462.6
Net Common Stock Issued (Repurchased)	50	11.8	0.8	0.5	462.6
Other Financing Activities	-20.3	-	-	-8.9	-
Financing Cash Flow	196.3	-436.1	187.4	78.8	30.6
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-3.9	-5.4	-0.1	-	1.1
Net Cash Flow	-14.7	144.2	-16.8	-44.3	5
Free Cash Flow	232.2	671.5	-134.5	-80.8	19.6
Free Cash Flow Growth	-65.42%	-	-	-	-63.43%
FCF Margin	14.22%	62.17%	-16.65%	-12.60%	4.11%
Free Cash Flow Per Share	1.79	5.33	-1.11	-0.66	0.17
Levered Free Cash Flow	483.7	836.7	44.7	0.4	-440.1
Unlevered Free Cash Flow	320.94	1,282	-134.5	-55.73	-6.23

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.