Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual (SAR)

1-5

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operations
Operating Cash Flow	2.88M	11.80M	-9.58M	-5.14M	15.10M
Free Cash Flow	-36.01M	-33.05M	-11.30M	-5.86M	12.98M
Capital Expenditures	-38.89M	-44.85M	-1.72M	-0.72M	-2.12M
Investing & Financing
Investing Cash Flow	-33.49M	-16.71M	-30.44M	-0.67M	0.00M
Financing Cash Flow	29.09M	-0.65M	-0.65M	-32.31M	-19.65M
Dividends Paid	—	—	—	-31.67M	-19.00M
Operating Activities
Operating Cash Flow	2.88M	11.80M	-9.58M	-5.14M	15.10M
Net Income	-30.80M	-12.69M	5.13M	-6.44M	20.76M
Change in Accounts Payable	3.29M	7.12M	-0.46M	-1.22M	-0.48M
Change in Accounts Receivable	-2.40M	14.67M	-5.67M	-6.69M	-12.03M
Change in Inventory	-0.16M	0.13M	0.16M	-1.87M	3.09M
Change in Other Net Operating Assets	-0.54M	-7.42M	-17.89M	-1.17M	-4.68M
Change in Working Capital	0.18M	14.50M	-23.86M	-10.95M	-14.11M
Other Operating Activities	4.47M	1.00M	1.21M	-0.21M	0.07M
Provision & Write-off of Bad Debts	0.00M	—	0.65M	3.11M	—
Depreciation & Amortization	10.56M	10.87M	10.44M	11.96M	9.36M
Cash Interest Paid	1.76M	—	—	—	—
Loss (Gain) on Equity Investments	-0.66M	-1.68M	-3.00M	-2.52M	-0.98M
Asset Writedown & Restructuring Costs	19.08M	—	—	—	—
Investing Activities
Investing Cash Flow	-33.49M	-16.71M	-30.44M	-0.67M	0.00M
Capital Expenditures	-38.89M	-44.85M	-1.72M	-0.72M	-2.12M
Investment in Securities	3.33M	25.56M	-31.32M	-0.85M	1.13M
Other Investing Activities	2.06M	2.58M	2.60M	0.91M	1.00M
Loss (Gain) From Sale of Assets	—	—	—	—	733
Loss (Gain) on Sale of Investments	42.47K	-194.60K	-146.40K	-89.52K	—
Financing Activities
Financing Cash Flow	29.09M	-0.65M	-0.65M	-32.31M	-19.65M
Common Dividends Paid	—	—	—	-31.67M	-19.00M
Short-Term Debt Issued	31.50M	—	—	—	—
Total Debt Issued	31.50M	—	—	—	—
Long-Term Debt Repaid	-647.89K	-647.89K	-647.89K	-647.89K	-647.89K
Net Debt Issued (Repaid)	30.85M	-0.65M	-0.65M	-0.65M	-0.65M
Other Financing Activities	-1.76M	—	—	—	—
Free Cash Flow & Returns
Free Cash Flow	-36.01M	-33.05M	-11.30M	-5.86M	12.98M
Free Cash Flow Growth	—	—	—	—	-73.0%
Free Cash Flow Margin	-59.4%	-52.2%	-21.8%	-10.7%	+15.2%
Free Cash Flow Per Share	-1.14	-1.04	-0.36	-0.19	0.41
Levered Free Cash Flow	-35.10M	-23.45M	-17.81M	35.56M	6.80M
Unlevered Free Cash Flow	-34.25M	-23.28M	-17.68M	35.64M	6.88M
Operating Cash Flow Growth	-75.6%	—	—	—	-71.5%
Net Cash Flow	-1.52M	-5.56M	-40.67M	-38.13M	-4.55M

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (SAR)

1-5

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operations
Operating Cash Flow	2.88M	11.80M	-9.58M	-5.14M	15.10M
Free Cash Flow	-36.01M	-33.05M	-11.30M	-5.86M	12.98M
Capital Expenditures	-38.89M	-44.85M	-1.72M	-0.72M	-2.12M
Investing & Financing
Investing Cash Flow	-33.49M	-16.71M	-30.44M	-0.67M	0.00M
Financing Cash Flow	29.09M	-0.65M	-0.65M	-32.31M	-19.65M
Dividends Paid	—	—	—	-31.67M	-19.00M
Operating Activities
Operating Cash Flow	2.88M	11.80M	-9.58M	-5.14M	15.10M
Net Income	-30.80M	-12.69M	5.13M	-6.44M	20.76M
Change in Accounts Payable	3.29M	7.12M	-0.46M	-1.22M	-0.48M
Change in Accounts Receivable	-2.40M	14.67M	-5.67M	-6.69M	-12.03M
Change in Inventory	-0.16M	0.13M	0.16M	-1.87M	3.09M
Change in Other Net Operating Assets	-0.54M	-7.42M	-17.89M	-1.17M	-4.68M
Change in Working Capital	0.18M	14.50M	-23.86M	-10.95M	-14.11M
Other Operating Activities	4.47M	1.00M	1.21M	-0.21M	0.07M
Provision & Write-off of Bad Debts	0.00M	—	0.65M	3.11M	—
Depreciation & Amortization	10.56M	10.87M	10.44M	11.96M	9.36M
Cash Interest Paid	1.76M	—	—	—	—
Loss (Gain) on Equity Investments	-0.66M	-1.68M	-3.00M	-2.52M	-0.98M
Asset Writedown & Restructuring Costs	19.08M	—	—	—	—
Investing Activities
Investing Cash Flow	-33.49M	-16.71M	-30.44M	-0.67M	0.00M
Capital Expenditures	-38.89M	-44.85M	-1.72M	-0.72M	-2.12M
Investment in Securities	3.33M	25.56M	-31.32M	-0.85M	1.13M
Other Investing Activities	2.06M	2.58M	2.60M	0.91M	1.00M
Loss (Gain) From Sale of Assets	—	—	—	—	733
Loss (Gain) on Sale of Investments	42.47K	-194.60K	-146.40K	-89.52K	—
Financing Activities
Financing Cash Flow	29.09M	-0.65M	-0.65M	-32.31M	-19.65M
Common Dividends Paid	—	—	—	-31.67M	-19.00M
Short-Term Debt Issued	31.50M	—	—	—	—
Total Debt Issued	31.50M	—	—	—	—
Long-Term Debt Repaid	-647.89K	-647.89K	-647.89K	-647.89K	-647.89K
Net Debt Issued (Repaid)	30.85M	-0.65M	-0.65M	-0.65M	-0.65M
Other Financing Activities	-1.76M	—	—	—	—
Free Cash Flow & Returns
Free Cash Flow	-36.01M	-33.05M	-11.30M	-5.86M	12.98M
Free Cash Flow Growth	—	—	—	—	-73.0%
Free Cash Flow Margin	-59.4%	-52.2%	-21.8%	-10.7%	+15.2%
Free Cash Flow Per Share	-1.14	-1.04	-0.36	-0.19	0.41
Levered Free Cash Flow	-35.10M	-23.45M	-17.81M	35.56M	6.80M
Unlevered Free Cash Flow	-34.25M	-23.28M	-17.68M	35.64M	6.88M
Operating Cash Flow Growth	-75.6%	—	—	—	-71.5%
Net Cash Flow	-1.52M	-5.56M	-40.67M	-38.13M	-4.55M

Financials

Annual (SAR)

NGC

Annual (SAR)