TRAX Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Net Income	-169.38	-166.09	-163.71	-106.15
Depreciation & Amortization	1.94	2.42	2.4	2.38
Loss (Gain) From Sale of Investments	-3.08	-4.73	-10.31	-10.52
Stock-Based Compensation	36.06	32.3	26.83	18.39
Change in Accounts Payable	2.43	-5.31	17.81	8.39
Change in Other Net Operating Assets	1.54	-1.52	1.18	-5.49
Operating Cash Flow	-130.48	-142.93	-125.81	-93
Capital Expenditures	-0.07	-0.09	-0.36	-0.81
Investment in Securities	248.24	228.12	95.76	145.56
Investing Cash Flow	248.17	228.03	95.4	144.75
Issuance of Common Stock	32.15	30.01	117.52	-
Other Financing Activities	-	-	-	-87.09
Financing Cash Flow	32.15	30.01	117.52	-87.09
Net Cash Flow	149.83	115.12	87.12	-35.34
Free Cash Flow	-130.55	-143.01	-126.16	-93.81
Levered Free Cash Flow	-	-82.76	-63.42	-
Unlevered Free Cash Flow	-	-82.76	-63.42	-
Change in Working Capital	3.97	-6.83	18.99	2.9