$SMXT Cashflow Statement | Understand Stock

$SMXT

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated Statements of Cash Flows

In millions of USD; shares in millions, except per-share amounts

	FY2025 12 months to Dec 31, 2025	FY2024 12 months to Dec 31, 2024	FY2023 12 months to Dec 31, 2023
Operating activities
Net income (loss)
Parent Company Member
Total net income (loss)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization expense
Amortization of loan discounts on customer loan receivables
Amortization of convertible note discount and debt issuance costs
Amortization of operating lease right-of-use assets
Provision for (recovery of) credit losses and loan losses
Provision for other receivables from SPIC
Provision for receivables from SPIC
Provision for excess and obsolete inventories
Provision for warranty and production guaranty
Equity in income of investment in solar project companies in excess of $0 distribution received
Deferred income tax provision
Gain on disposal of property and equipment
Write off of capitalized merger costs
Gain on debt extinguishment
Loss (gain) on disposal of property and equipment
Gain on debt extinguishment related to convertible notes
Loss on debt extinguishment related to promissory notes
Gain on early termination of lease
Stock-based compensation
Goodwill impairment
Other
Changes in operating assets and liabilities:
Accounts Receivable
Unbilled receivables
Contract Assets
Receivable from SPIC
Customer loans receivable
Inventories
Other receivables and current assets
Notes and accounts payable
Other assets
Accounts payable
Operating lease liabilities
Contract liabilities
Accrued expenses and other payables
Other liabilities
Net cash provided by (used in) operating activities
Parent Company Member
Total net cash provided by (used in) operating activities
Investing activities
Issuance of note receivable to SPAC and Sponsor
Purchase of short-term investments
Proceeds from short-term investments
Purchase of property and equipment
Principal repayment on debt investments
Proceeds from disposal of property and equipment
Net cash provided by (used in) investing activities
Parent Company Member
Total net cash provided by (used in) investing activities
Financing activities
Accrued settlement
Accrued legal settlement
Proceeds from private placement sale of common stock
Gross proceeds from initial public offering, net of underwriting fees
Share issuance costs relating to the initial public offering
IPO offering costs paid
Proceeds from note payable
Share issuance costs
IPO offering costs paid
Proceeds from note issuances
Principal payments on convertible notes
Principal payment on borrowings
Repayment on equipment capital lease
Payments related to Uonone acquisition contingency (Note 15)
Proceeds from Uonone acquisition contingency (Note 15)
Net cash provided by (used in) financing activities
Parent Company Member
Total net cash provided by (used in) financing activities
Net increase (decrease) in cash and cash equivalents
Effect of exchange rate
Net increase (decrease) in cash, cash equivalents, and restricted cash
Cash, cash equivalents, and restricted cash, beginning of year
Parent Company Member
Total cash, cash equivalents, and restricted cash, beginning of year
Cash, cash equivalents, and restricted cash, end of year
Parent Company Member
Total cash, cash equivalents, and restricted cash, end of year
Interest paid in cash
Parent Company Member
Total interest paid in cash
Income taxes paid in cash
Parent Company Member
Total income taxes paid in cash
Non-cash activities for investing and financing activities:
Right-of-use assets acquired through operating leases
Parent Company Member
Total right-of-use assets acquired through operating leases
Issuance of common stock in exchange of note payable
Shares returned for tax withholding on options exercised
Reversal of previously capitalized offering cost upon IPO
Right-of-use assets acquired through operating leases, related party
Parent Company Member
Total right-of-use assets acquired through operating leases, related party
Promissory note issued in lieu of a payable for rent and security deposit
Parent Company Member
Total promissory note issued in lieu of a payable for rent and security deposit
Convertible notes issued to non-related parties in connection with cancellation of EB-5 loans
Parent Company Member
Total convertible notes issued to non-related parties in connection with cancellation of EB-5 loans
Cash and cash equivalents
Parent Company Member
Total cash and cash equivalents
Restricted cash, current
Restricted cash, noncurrent

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