| CHF millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | (27.5) | (170.2) | 57.7 | 79.6 | 242.3 | 194.5 | −19.7% | |
| Depreciation & amortization | 12.1 | 31.4 | 46.4 | 64.9 | 104.6 | 121.7 | +16.3% | |
| Stock-based compensation | 48.6 | 192.4 | 38.3 | 27.3 | 57.5 | 0.0 | −100.0% | |
| Change in working capital | (55.7) | (66.4) | (353.4) | (7.8) | 141.8 | (162.8) | −214.8% | |
| Operating cash flow | (14.7) | 16.9 | (227.0) | 232.1 | 510.6 | 322.8 | −36.8% | |
| Capital expenditure | (18.6) | (36.2) | (83.0) | (47.2) | (65.0) | (69.6) | −7.1% | |
| Acquisitions | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Investing cash flow | (18.6) | (36.4) | (82.9) | (47.1) | (64.9) | (75.1) | −15.7% | |
| Dividends paid | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Share buybacks | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Debt issued / repaid | (6.4) | (13.3) | (15.4) | (25.5) | (51.3) | 0.0 | +100.0% | |
| Financing cash flow | 124.8 | 595.9 | 6.3 | (21.8) | (55.4) | (54.4) | +1.7% | |
| Free cash flow | (33.3) | (19.3) | (310.0) | 184.9 | 445.6 | 253.2 | −43.2% | |
| Net change in cash | 90.5 | 562.5 | (282.1) | 123.6 | 429.7 | 212.1 | −50.6% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
Statements are reported in CHF; the shares trade in USD.
