STO:GUARD Cash Flow Statement

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

Millions SEK. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2020 - 2016
Period Ending	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	2020 - 2016
Net Income	-108.85	-96.07	-113.32	-112.84	-82.03	Upgrade
Depreciation & Amortization	-	-	0.02	0.02	0.02	Upgrade
Stock-Based Compensation	-	2.8	2.81	-	-	Upgrade
Other Operating Activities	9.92	-2.5	0.26	-1.29	0.65	Upgrade
Change in Accounts Receivable	-2.77	-0.08	0.29	0.22	-0.67	Upgrade
Change in Other Net Operating Assets	-7.65	1.1	-6.1	11.75	4.44	Upgrade
Operating Cash Flow	-109.35	-94.75	-116.05	-102.14	-77.59	Upgrade
Long-Term Debt Repaid	-0.03	-1.84	-0.67	-1.17	-1.31	Upgrade
Net Debt Issued (Repaid)	-0.03	-1.84	-0.67	-1.17	-1.31	Upgrade
Issuance of Common Stock	120.06	64.5	-	120	182.11	Upgrade
Other Financing Activities	-12.81	-	-0.11	-6.23	-4.5	Upgrade
Financing Cash Flow	107.22	62.66	-0.78	112.6	176.3	Upgrade
Foreign Exchange Rate Adjustments	-2.23	2.54	-0.44	1.95	-0.15	Upgrade
Net Cash Flow	-4.36	-29.56	-117.27	12.4	98.56	Upgrade
Free Cash Flow	-109.35	-94.75	-116.05	-102.14	-77.59	Upgrade
Free Cash Flow Per Share	-6.06	-8.50	-11.53	-14.49	-17.39	Upgrade
Cash Interest Paid	0	0.01	0.01	0	0	Upgrade
Levered Free Cash Flow	-79.13	-59.24	-74.53	-58.41	-46.46	Upgrade
Unlevered Free Cash Flow	-77.73	-59.23	-74.53	-58.41	-46.46	Upgrade
Change in Working Capital	-10.42	1.02	-5.81	11.98	3.77	Upgrade

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