Pharvaris N.V. (PHVS)

Pharvaris Cash Flow Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	-173.71	-132.4	-99.83	-75.65	-42.66
Depreciation & Amortization	0.42	0.27	0.26	0.15	0.08
Stock-Based Compensation	19.05	16.21	10.66	11.35	8.2
Other Adjustments	11.3	-12.75	2.59	-11.06	-11.49
Change in Receivables	-0.33	-0.03	-0.04	0.32	-0.13
Changes in Accounts Payable	-0.03	1.65	-4.17	3.91	1.66
Changes in Accrued Expenses	6.24	4.41	-0.7	6.66	-0.2
Changes in Income Taxes Payable	-2.17	-2.77	-1.11	-0.18	-0.03
Changes in Other Operating Activities	2.16	5.28	-0.72	-2.66	-0.03
Operating Cash Flow	-137.07	-120.13	-93.05	-67.16	-44.6
Capital Expenditures	-0.16	-0.54	-0.09	-0.12	-0.13
Investing Cash Flow	-0.16	-0.54	-0.09	-0.12	-0.13
Issuance of Common Stock	160.83	2.84	325.61	8.77	143.67
Net Common Stock Issued (Repurchased)	160.83	2.84	325.61	8.77	143.67
Other Financing Activities	-0.22	-0.16	-0.22	-0.12	-
Financing Cash Flow	160.61	2.68	325.39	8.65	143.67
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-12.42	7.49	-2.86	11.12	11.78
Net Cash Flow	23.37	-117.99	232.25	-58.64	98.94
Free Cash Flow	-137.24	-120.67	-93.14	-67.29	-44.73
Free Cash Flow Per Share	-2.32	-2.23	-2.43	-2.00	-1.47
Levered Free Cash Flow	-169.25	-125.92	-107.4	-68.57	-41.37
Unlevered Free Cash Flow	-165.31	-139.39	-104.46	-79.73	-52.87

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

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