Cash Flow Statement

AnnualQuarterly

(in millions of USD)	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012
Net Income
Net Income	186.3	168.0	28.5	(237.9)	(291.8)	(287.1)	132.2	89.8	(209.3)	(238.2)	(127.3)	(223.3)	(87.1)	(53.6)	(33.0)
Cash From Operating Activities
Depreciation & Amortization	1.8	1.3	1.6	3.2	3.6	3.5	2.9	3.3	3.2	3.4	3.0	1.9	0.7	0.4	0.2
Amortization Of Intangibles	2.5	2.6	3.4	-	-	-	-	-	-	-	-	-	-	-	-
Stock-Based Compensation	14.0	17.0	27.8	43.1	50.7	51.4	38.2	33.6	34.8	33.4	27.4	16.7	11.1	2.0	0.4
Deffered Income Tax	-	-	-	(0.4)	-	-	-	0.0	0.0	0.0	-	-	-	-	-
Asset Impairments	-	-	-	0.0	0.0	0.0	0.0	0.0	3.9	0.6	-	0.4	-	-	-
Gains & Losses On Investments	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change In Accounts Receivable	-	(93.6)	(149.4)	150.7	(13.1)	(34.1)	15.2	142.0	0.0	(1.9)	0.3	(0.9)	2.1	0.1	0.2
Change In Inventory	-	17.1	32.0	46.7	47.3	6.3	38.4	48.6	5.5	0.0	-	-	-	-	-
Change In Accounts Payable	-	-	-	-	-	-	-	-	(0.3)	(3.8)	(5.0)	18.4	3.6	0.9	1.7
Change In Other Working Capital	-	(64.4)	-	-	-	-	-	-	(0.1)	(2.8)	(1.1)	3.3	2.0	(0.1)	-
Other Operating Activities	-	(10.3)	0.1	(4.9)	(0.7)	0.6	-	-	-	-	-	-	-	-	-
Cash From Operating Activities	-	(138.5)	(20.4)	(174.9)	(241.1)	(37.4)	154.1	28.4	(159.3)	(200.3)	(252.5)	(108.0)	(23.9)	15.4	(18.3)
Cash From Investing Activities
Capital Expenditures	-	-	-	0.3	2.0	1.3	7.2	1.8	0.8	4.6	6.5	6.2	2.8	0.4	1.8
Acquisitions	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Divestitures	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase Of Investments	-	103.8	-	19.5	127.4	182.5	273.8	20.2	42.9	74.3	-	-	-	-	-
Sales Of Investments	-	21.5	6.2	144.4	-	99.7	274.0	20.4	43.2	74.5	-	-	-	-	-
Other Investing Activities	-	0.3	(0.1)	0.5	4.5	-	-	-	-	-	-	-	-	-	-
Cash From Investing Activities	-	375.1	230.3	144.6	(166.9)	(138.4)	(14.4)	(12.7)	(1.2)	(4.4)	(6.5)	(6.9)	(0.5)	(0.4)	(1.8)
Cash From Financing Activities
Debt Issued	-	-	-	-	240.7	-	-	-	-	-	-	-	-	-	-
Debt Repaid	-	-	260.4	-	81.8	-	-	-	-	-	-	-	-	-	-
Common Stock Issuance	-	-	1.5	-	-	40.9	-	-	-	-	-	-	-	-	-
Common Stock Repurchased	-	-	-	-	-	-	-	-	-	-	-	-	0.0	-	-
Dividends Paid	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Financing Activities	-	(0.8)	0.0	(1.0)	(1.2)	(0.7)	(0.4)	-	-	-	-	-	-	-	-
Cash From Financing Activities	-	(273.7)	(187.0)	69.6	54.3	51.9	223.9	89.4	105.4	206.8	226.2	122.7	136.0	10.0	26.9
Change In Cash & Equivalents
Effects Of Exchange Rate Changes	-	-	-	-	-	-	-	(0.3)	0.5	(0.1)	(0.4)	-	-	-	-
Net Change In Cash	-	(37.1)	22.9	39.4	(353.6)	(124.0)	363.7	104.7	(54.6)	2.0	(33.3)	7.8	110.8	25.0	6.9
Cash Beginning Of Period	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash End Of Period	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow
Free Cash Flow	-	-	-	(175.2)	(243.2)	(38.7)	146.9	26.5	(160.1)	(204.9)	(259.1)	(114.2)	(26.8)	15.1	(20.0)
Free Cash Flow To Equity	-	-	-	-	(84.2)	-	-	-	-	-	-	-	-	-	-

Source: SEC EDGAR company filings. Figures as reported (US GAAP)

(in millions of USD)	Q1 FY 26	Q4 FY 25	Q3 FY 25	Q2 FY 25	Q1 FY 25	Q4 FY 24	Q3 FY 24	Q2 FY 24	Q1 FY 24	Q4 FY 23	Q3 FY 23	Q2 FY 23	Q1 FY 23	Q4 FY 22	Q3 FY 22	Q2 FY 22	Q1 FY 22	Q4 FY 21	Q3 FY 21	Q2 FY 21	Q1 FY 21	Q4 FY 20	Q3 FY 20	Q2 FY 20	Q1 FY 20	Q4 FY 19	Q3 FY 19	Q2 FY 19	Q1 FY 19	Q4 FY 18	Q3 FY 18	Q2 FY 18	Q1 FY 18	Q4 FY 17	Q3 FY 17	Q2 FY 17	Q1 FY 17	Q4 FY 16	Q3 FY 16	Q2 FY 16
Net Income
Net Income	(38.3)	(37.6)	(35.5)	297.8	(56.6)	(50.7)	(10.8)	(12.9)	102.9	(79.7)	(39.6)	(42.9)	(75.7)	(58.9)	(86.7)	(50.2)	(96.1)	(45.7)	(38.5)	(29.9)	(172.9)	9.7	27.9	59.0	35.6	39.2	47.0	23.6	(20.0)	(62.6)	(58.8)	(43.6)	(44.3)	(49.1)	(59.0)	(55.3)	(74.8)	(75.9)	83.9	(70.0)
Cash From Operating Activities
Depreciation & Amortization	0.9	0.3	0.3	0.3	0.4	0.1	0.4	0.5	0.6	0.7	0.8	0.8	0.9	1.0	0.9	0.9	0.8	0.9	0.9	0.9	0.8	0.9	0.7	0.7	0.6	1.1	0.8	0.7	0.7	0.6	0.8	0.9	0.9	0.9	0.8	0.8	0.9	0.8	0.8	0.7
Amortization Of Intangibles	0.6	0.6	0.7	0.6	0.7	0.7	1.1	0.7	0.9	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock-Based Compensation	2.4	2.8	3.4	5.4	5.4	6.4	6.9	7.2	7.3	10.8	10.0	10.1	12.3	-	-	-	12.9	-	-	-	16.9	-	-	-	9.6	-	-	-	9.5	-	-	-	8.7	-	-	-	7.8	-	-	-
Deffered Income Tax	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Asset Impairments	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.5	-	-	-	-
Gains & Losses On Investments	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.0	-	(0.0)	0.0	0.0	-	0.0	0.0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change In Accounts Receivable	4.3	-	-	-	(50.9)	-	-	-	(8.6)	-	-	-	(8.5)	-	-	-	(6.0)	-	-	-	(16.7)	-	-	-	25.6	-	-	-	46.5	-	-	-	0.0	-	-	-	(1.8)	-	-	-
Change In Inventory	11.3	-	-	-	22.2	-	-	-	11.5	-	-	-	2.7	-	-	-	3.0	-	-	-	11.4	-	-	-	9.6	-	-	-	6.4	-	-	-	0.0	-	-	-	-	-	-	-
Change In Accounts Payable	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	(4.0)	-	-	-	(1.1)	-	-	-	(7.3)	-	-	-
Change In Other Working Capital	3.3	-	-	-	1.8	-	-	-	1.4	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	(0.1)	-	-	-	(0.1)	-	-	-
Other Operating Activities	0.5	-	-	-	0.9	-	-	-	(2.9)	-	-	-	(0.1)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash From Operating Activities	(57.9)	-	-	-	(25.8)	-	-	-	(46.8)	-	-	-	(68.7)	-	-	-	(54.0)	-	-	-	1.4	-	-	-	13.5	-	-	-	(57.0)	-	-	-	(33.6)	-	-	-	(73.3)	-	-	-
Cash From Investing Activities
Capital Expenditures	-	-	-	-	-	-	-	-	-	-	-	-	0.2	-	-	-	0.6	-	-	-	0.1	-	-	-	1.8	-	-	-	0.3	-	-	-	0.1	-	-	-	1.7	-	-	-
Acquisitions	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Divestitures	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase Of Investments	6.4	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	140.3	-	-	-	0.0	-	-	-	14.9	-	-	-	13.1	-	-	-	49.9	-	-	-
Sales Of Investments	38.1	-	-	-	-	-	-	-	6.2	-	-	-	17.5	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Investing Activities	1.1	-	-	-	0.3	-	-	-	(0.1)	-	-	-	(0.0)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash From Investing Activities	30.7	-	-	-	(17.5)	-	-	-	202.8	-	-	-	17.5	-	-	-	(35.6)	-	-	-	(285.5)	-	-	-	(1.6)	-	-	-	(15.2)	-	-	-	(13.2)	-	-	-	(51.6)	-	-	-
Cash From Financing Activities
Debt Issued	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	191.2	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Debt Repaid	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	81.8	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Common Stock Issuance	53.7	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Common Stock Repurchased	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Financing Activities	0.1	-	-	-	-	-	-	-	0.1	-	-	-	(0.4)	-	-	-	(0.2)	-	-	-	(0.2)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash From Financing Activities	53.6	-	-	-	(0.3)	-	-	-	0.9	-	-	-	3.8	-	-	-	(1.9)	-	-	-	2.4	-	-	-	3.9	-	-	-	81.5	-	-	-	1.9	-	-	-	125.0	-	-	-
Change In Cash & Equivalents
Effects Of Exchange Rate Changes	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.0	-	-	-	(0.1)	-	-	-	(0.0)	-	-	-	(0.2)	-	-	-
Net Change In Cash	26.4	-	-	-	(43.6)	-	-	-	156.9	-	-	-	(47.4)	-	-	-	(91.5)	-	-	-	(281.7)	-	-	-	15.8	-	-	-	9.2	-	-	-	(44.9)	-	-	-	(0.0)	-	-	-
Cash Beginning Of Period	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash End Of Period	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow
Free Cash Flow	-	-	-	-	-	-	-	-	-	-	-	-	(68.9)	-	-	-	(54.7)	-	-	-	1.2	-	-	-	11.7	-	-	-	(57.3)	-	-	-	(33.7)	-	-	-	(75.0)	-	-	-
Free Cash Flow To Equity	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	54.8	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

Source: SEC EDGAR company filings. Figures as reported (US GAAP)

(in millions of USD)

TTM

FY2025

FY2024

FY2023

FY2022

FY2021

FY2020

FY2019

FY2018

FY2017

FY2016

FY2015

FY2014

FY2013

FY2012

Net Income

186.3

168.0

28.5

(237.9)

(291.8)

(287.1)

132.2

89.8

(209.3)

(238.2)

(127.3)

(223.3)

(87.1)

(53.6)

(33.0)

Cash From Operating Activities

Depreciation & Amortization

1.8

1.3

1.6

3.2

3.6

3.5

2.9

3.3

3.2

3.4

3.0

1.9

0.7

0.4

0.2

Amortization Of Intangibles

2.5

2.6

3.4

Stock-Based Compensation

14.0

17.0

27.8

43.1

50.7

51.4

38.2

33.6

34.8

33.4

27.4

16.7

11.1

2.0

0.4

Deffered Income Tax

(0.4)

0.0

Asset Impairments

0.0

3.9

0.6

0.4

Gains & Losses On Investments

Change In Accounts Receivable

(93.6)

(149.4)

150.7

(13.1)

(34.1)

15.2

142.0

0.0

(1.9)

0.3

(0.9)

2.1

0.1

0.2

Change In Inventory

17.1

32.0

46.7

47.3

6.3

38.4

48.6

5.5

0.0

Change In Accounts Payable

(0.3)

(3.8)

(5.0)

18.4

3.6

0.9

1.7

Change In Other Working Capital

(64.4)

(0.1)

(2.8)

(1.1)

3.3

2.0

(0.1)

Other Operating Activities

(10.3)

0.1

(4.9)

(0.7)

0.6

Cash From Operating Activities

(138.5)

(20.4)

(174.9)

(241.1)

(37.4)

154.1

28.4

(159.3)

(200.3)

(252.5)

(108.0)

(23.9)

15.4

(18.3)

Cash From Investing Activities

Capital Expenditures

0.3

2.0

1.3

7.2

1.8

0.8

4.6

6.5

6.2

2.8

0.4

1.8

Acquisitions

Divestitures

Purchase Of Investments

103.8

19.5

127.4

182.5

273.8

20.2

42.9

74.3

Sales Of Investments

21.5

6.2

144.4

99.7

274.0

20.4

43.2

74.5

Other Investing Activities

0.3

(0.1)

0.5

4.5

Cash From Investing Activities

375.1

230.3

144.6

(166.9)

(138.4)

(14.4)

(12.7)

(1.2)

(4.4)

(6.5)

(6.9)

(0.5)

(0.4)

(1.8)

Cash From Financing Activities

Debt Issued

240.7

Debt Repaid

260.4

81.8

Common Stock Issuance

1.5

40.9

Common Stock Repurchased

0.0

Dividends Paid

Other Financing Activities

(0.8)

0.0

(1.0)

(1.2)

(0.7)

(0.4)

Cash From Financing Activities

(273.7)

(187.0)

69.6

54.3

51.9

223.9

89.4

105.4

206.8

226.2

122.7

136.0

10.0

26.9

Change In Cash & Equivalents

Effects Of Exchange Rate Changes

(0.3)

0.5

(0.1)

(0.4)

Net Change In Cash

(37.1)

22.9

39.4

(353.6)

(124.0)

363.7

104.7

(54.6)

2.0

(33.3)

7.8

110.8

25.0

6.9

Cash Beginning Of Period

Cash End Of Period

Free Cash Flow

(175.2)

(243.2)

(38.7)

146.9

26.5

(160.1)

(204.9)

(259.1)

(114.2)

(26.8)

15.1

(20.0)

Free Cash Flow To Equity

(84.2)

(in millions of USD)

Q1 FY 26

Q4 FY 25

Q3 FY 25

Q2 FY 25

Q1 FY 25

Q4 FY 24

Q3 FY 24

Q2 FY 24

Q1 FY 24

Q4 FY 23

Q3 FY 23

Q2 FY 23

Q1 FY 23

Q4 FY 22

Q3 FY 22

Q2 FY 22

Q1 FY 22

Q4 FY 21

Q3 FY 21

Q2 FY 21

Q1 FY 21

Q4 FY 20

Q3 FY 20

Q2 FY 20

Q1 FY 20

Q4 FY 19

Q3 FY 19

Q2 FY 19

Q1 FY 19

Q4 FY 18

Q3 FY 18

Q2 FY 18

Q1 FY 18

Q4 FY 17

Q3 FY 17

Q2 FY 17

Q1 FY 17

Q4 FY 16

Q3 FY 16

Q2 FY 16

Net Income

(38.3)

(37.6)

(35.5)

297.8

(56.6)

(50.7)

(10.8)

(12.9)

102.9

(79.7)

(39.6)

(42.9)

(75.7)

(58.9)

(86.7)

(50.2)

(96.1)

(45.7)

(38.5)

(29.9)

(172.9)

9.7

27.9

59.0

35.6

39.2

47.0

23.6

(20.0)

(62.6)

(58.8)

(43.6)

(44.3)

(49.1)

(59.0)

(55.3)

(74.8)

(75.9)

83.9

(70.0)

Cash From Operating Activities

Depreciation & Amortization

0.9

0.3

0.4

0.1

0.4

0.5

0.6

0.7

0.8

0.9

1.0

0.9

0.8

0.9

0.8

0.9

0.7

0.6

1.1

0.8

0.7

0.6

0.8

0.9

0.8

0.9

0.8

0.7

Amortization Of Intangibles

0.6

0.7

0.6

0.7

1.1

0.7

0.9

Stock-Based Compensation

2.4

2.8

3.4

5.4

6.4

6.9

7.2

7.3

10.8

10.0

10.1

12.3

12.9

16.9

9.6

9.5

8.7

7.8

Deffered Income Tax

Asset Impairments

0.5

Gains & Losses On Investments

0.0

(0.0)

0.0

Change In Accounts Receivable

4.3

(50.9)

(8.6)

(8.5)

(6.0)

(16.7)

25.6

46.5

0.0

(1.8)

Change In Inventory

11.3

22.2

11.5

2.7

3.0

11.4

9.6

6.4

0.0

Change In Accounts Payable

(4.0)

(1.1)

(7.3)

Change In Other Working Capital

3.3

1.8

1.4

(0.1)

Other Operating Activities

0.5

0.9

(2.9)

(0.1)

Cash From Operating Activities

(57.9)

(25.8)

(46.8)

(68.7)

(54.0)

1.4

13.5

(57.0)

(33.6)

(73.3)

Cash From Investing Activities

Capital Expenditures

0.2

0.6

0.1

1.8

0.3

0.1

1.7

Acquisitions

Divestitures

Purchase Of Investments

6.4

140.3

0.0

14.9

13.1

49.9

Sales Of Investments

38.1

6.2

17.5

Other Investing Activities

1.1

0.3

(0.1)

(0.0)

Cash From Investing Activities

30.7

(17.5)

202.8

17.5

(35.6)

(285.5)

(1.6)

(15.2)

(13.2)

(51.6)

Cash From Financing Activities

Debt Issued

191.2

Debt Repaid

81.8

Common Stock Issuance

53.7

Common Stock Repurchased

Dividends Paid

Other Financing Activities

0.1

(0.4)

(0.2)

Cash From Financing Activities

53.6

(0.3)

0.9

3.8

(1.9)

2.4

3.9

81.5

1.9

125.0

Change In Cash & Equivalents

Effects Of Exchange Rate Changes

0.0

(0.1)

(0.0)

(0.2)

Net Change In Cash

26.4

(43.6)

156.9

(47.4)

(91.5)

(281.7)

15.8

9.2

(44.9)

(0.0)

Cash Beginning Of Period

Cash End Of Period

Free Cash Flow

(68.9)

(54.7)

1.2

11.7

(57.3)

(33.7)

(75.0)

Free Cash Flow To Equity

54.8