Blackedge Cash Flow Statement

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

Millions ILS. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2020 - 2017
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 - 2017
Net Income	29.46	35.47	43.82	27.62	18.72	Upgrade
Depreciation & Amortization	1.53	1.39	1.19	1.21	0.39	Upgrade
Loss (Gain) From Sale of Investments	-7.67	-7.67	-0.96	13.76	-11.36	Upgrade
Stock-Based Compensation	0.53	0.39	0.42	0.29	0.92	Upgrade
Change in Other Net Operating Assets	40.99	-261.83	33.55	-280.49	-119.12	Upgrade
Other Operating Activities	-18.08	2.94	1.15	0.38	1.56	Upgrade
Operating Cash Flow	46.63	-229.26	79.17	-237.22	-108.89	Upgrade
Capital Expenditures	-0.6	-0.04	-0.34	-1.49	-0.15	Upgrade
Sale of Property, Plant & Equipment	-	0.11	-	-	-	Upgrade
Sale (Purchase) of Intangibles	-7.09	-0.37	-0.93	-0.94	-	Upgrade
Investment in Securities	-26.83	14.16	-0.14	-	-0.51	Upgrade
Investing Cash Flow	-34.52	13.85	-1.41	-2.44	-0.66	Upgrade
Long-Term Debt Issued	154.68	323.06	-	272.49	118.57	Upgrade
Long-Term Debt Repaid	-144.01	-124.95	-58.62	-49.85	-16.95	Upgrade
Net Debt Issued (Repaid)	10.68	198.11	-58.62	222.64	101.61	Upgrade
Issuance of Common Stock	9.04	18.85	-	20	23.43	Upgrade
Repurchase of Common Stock	-16.37	-3.61	-6.17	-	-	Upgrade
Common Dividends Paid	-	-	-6.5	-	-	Upgrade
Other Financing Activities	-0.24	0.11	-	-	-	Upgrade
Financing Cash Flow	3.12	213.45	-71.29	242.64	125.04	Upgrade
Net Cash Flow	15.23	-1.96	6.48	2.99	15.49	Upgrade
Free Cash Flow	46.03	-229.31	78.83	-238.71	-109.04	Upgrade
Free Cash Flow Margin	73.38%	-362.70%	83.31%	-297.78%	-346.75%	Upgrade
Free Cash Flow Per Share	27.68	-136.98	48.88	-129.39	-67.80	Upgrade
Cash Interest Paid	-	-	-	22.24	8.15	Upgrade
Cash Income Tax Paid	18.55	8.63	-3.42	2.57	0.47	Upgrade

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