MiniMax Group Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	-1,872	-465.24	-269.25	-73.73
Depreciation & Amortization	2.68	1.9	0.81	0.21
Loss (Gain) From Sale of Assets	-0.17	0	-0.07	-
Loss (Gain) From Sale of Investments	-27.25	-15.71	-0.79	-0.94
Stock-Based Compensation	24.03	6.82	3.35	1.07
Provision & Write-off of Bad Debts	0.06	0.09	0	-
Other Operating Activities	1,586	199.94	175.59	60.52
Change in Accounts Receivable	-3.81	-5.73	-1.34	-
Change in Accounts Payable	6.47	33.97	14.85	2.39
Change in Unearned Revenue	5.99	0.99	0.56	-
Change in Other Net Operating Assets	-2.39	-15.52	11.83	-0.54
Operating Cash Flow	-279.64	-258.48	-64.46	-11.02
Capital Expenditures	-0.92	-0.76	-0.7	-0.26
Investment in Securities	73.45	-430.54	-39.62	-34.9
Other Investing Activities	-0.27	-	-	-
Investing Cash Flow	72.26	-431.3	-40.32	-35.16
Short-Term Debt Issued	65.61	33.37	-	-
Total Debt Issued	65.61	33.37	-	-
Short-Term Debt Repaid	-64.3	-	-	-
Long-Term Debt Repaid	-2.09	-1.35	-0.7	-0.2
Total Debt Repaid	-66.4	-1.35	-0.7	-0.2
Net Debt Issued (Repaid)	-0.79	32.01	-0.7	-0.2
Other Financing Activities	-2.13	-0.51	-0.06	-0.01
Financing Cash Flow	423.34	771.09	306.24	49.79
Foreign Exchange Rate Adjustments	2.75	1.31	0.14	0.09
Net Cash Flow	218.71	82.62	201.6	3.7
Free Cash Flow	-280.56	-259.24	-65.15	-11.28
Free Cash Flow Margin	-354.97%	-849.33%	-1883.01%	-
Free Cash Flow Per Share	-2.58	-2.39	-0.62	-0.11
Cash Interest Paid	0.65	0.51	0.06	0.01
Levered Free Cash Flow	-161.44	-151.03	-34.72	-
Unlevered Free Cash Flow	-161.02	-150.72	-34.68	-
Change in Working Capital	6.26	13.72	25.9	1.85

Source: S&P Capital IQ. Standard template. Financial Sources.