System1, Inc. (SST)

System1 Cash Flow Statement

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

Year	2023	2022	2021	2020	2019
Net Income	-227.22	-330.39	33	63.76	8.8
Depreciation & Amortization	106.89	120.18	13.89	13.83	11.24
Share-Based Compensation	53.09	108.32	0.41	1.19	1.76
Other Operating Activities	42.51	105.2	13.41	-32.24	10.91
Operating Cash Flow	-24.74	3.32	60.71	46.55	32.71
Operating Cash Flow Growth	-	-94.54%	30.42%	42.29%	89.27%
Capital Expenditures	-7.96	-9.94	-6.54	-6.13	-6.7
Acquisitions	211.14	-444.07	0	74.54	-35.94
Other Investing Activities	-	-	-	-0.25	-0.12
Investing Cash Flow	203.18	-454.01	-6.54	68.17	-42.76
Dividends Paid	-0.1	-1.51	-14.58	-17.78	-8.66
Share Issuance / Repurchase	0	-506.56	0	0	0
Debt Issued / Paid	-68.98	237.67	-13.14	-78.29	27.55
Other Financing Activities	-5	242.68	-6.87	-32.01	7.26
Financing Cash Flow	-74.07	-27.73	-34.59	-128.08	26.15
Exchange Rate Effect	0.01	-0.06	0.04	-0.45	-0.15
Net Cash Flow	104.38	-478.48	19.63	-13.81	15.95
Free Cash Flow	-32.7	-6.62	54.17	40.42	26.02
Free Cash Flow Growth	-	-	34.03%	55.35%	116.89%
Free Cash Flow Margin	-8.14%	-1.08%	7.87%	8.49%	6.38%
Free Cash Flow Per Share	-0.36	-0.07	2.64	1.97	1.27

Source: Financials are provided by Nasdaq Data Link and sourced from the audited annual (10-K) and quarterly (10-Q) reports submitted to the Securities and Exchange Commission (SEC).