MDA Space Cash Flow Statement

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

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
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	Dec '21 Dec 31, 2021
Net Income	148.3	152.4	111	67.3	34.2	11.3
Depreciation & Amortization	161.5	140.6	91	78.1	76.2	79.8
Stock-Based Compensation	14.3	12.8	10.4	10	8.5	13.5
Other Adjustments	-40	-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	-4.8	4.3	14.5	-6.7	-5.2	-0.6
Changes in Unearned Revenue	-	26	684.4	-	-	-
Changes in Other Operating Activities	-101.3	155.5	508.9	-114.1	-46.3	-37.7
Operating Cash Flow	201.4	407.5	812.7	13.5	57	72.1
Operating Cash Flow Growth	-80.91%	-49.86%	5920.00%	-76.32%	-20.94%	27.84%
Capital Expenditures	-202.7	-175.3	-141.2	-148	-137.8	-52.5
Sale of Property, Plant & Equipment	-	0.2	7.4	-	-	-
Purchases of Intangible Assets	-99.5	-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
Proceeds from Sale of Investments	9.4	-	-	-	-	-
Payments for Business Acquisitions	-362.6	-362.6	-27.3	-24.4	-	-
Other Investing Activities	33.2	33.2	7	-	-	-
Investing Cash Flow	-632.2	-614.6	-227	-217.6	-180.1	-98.8
Long-Term Debt Issued	490	645	110	-	245	-
Long-Term Debt Repaid	-604	-478.4	-557.9	186.6	-157.8	-432
Net Long-Term Debt Issued (Repaid)	-114	166.6	-447.9	186.6	87.2	-432
Issuance of Common Stock	485.7	50	11.8	0.8	0.5	462.6
Net Common Stock Issued (Repurchased)	485.7	50	11.8	0.8	0.5	462.6
Other Financing Activities	-12	-20.3	-	-	-8.9	-
Financing Cash Flow	601.4	196.3	-436.1	187.4	78.8	30.6
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-5.6	-3.9	-5.4	-0.1	-	1.1
Net Cash Flow	165	-14.7	144.2	-16.8	-44.3	5
Free Cash Flow	-1.3	232.2	671.5	-134.5	-80.8	19.6
Free Cash Flow Growth	-	-65.42%	-	-	-	-63.43%
FCF Margin	-0.07%	14.22%	62.17%	-16.65%	-12.60%	4.11%
Free Cash Flow Per Share	-0.01	1.79	5.33	-1.11	-0.66	0.17
Levered Free Cash Flow	-155.9	483.7	836.7	44.7	0.4	-440.1
Unlevered Free Cash Flow	-39.57	320.94	1,282	-134.5	-55.73	-6.23

Updated Mar 31, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.