Duluth Holdings Inc.
Cash Flow Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $-16.4M | $-43.7M | $-9.9M | $2.3M | $29.7M | $13.6M | $18.9M | $23.2M |
| Depreciation & Amortization | $25.5M | $32.3M | $32.2M | $30.8M | $29.2M | $28.5M | $22.1M | $12.6M |
| Depreciation | $21.9M | $28.7M | $28.0M | $26.7M | $25.1M | $24.2M | $19.2M | — |
| Amortization | — | $200.0K | $200.0K | $200.0K | $200.0K | $200.0K | $100.0K | $100.0K |
| Stock-Based Compensation | $2.5M | $4.0M | $4.2M | $2.7M | $2.2M | $1.6M | $647.0K | $1.7M |
| Net Cash from Operating Activities | $24.2M | $-16.9M | $38.7M | $-1.4M | $92.0M | $50.8M | $8.3M | $31.1M |
| Investing Activities | ||||||||
| Capital Expenditures | $7.6M | $8.3M | $49.1M | $27.1M | $10.4M | $11.7M | $24.4M | $53.0M |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-7.4M | $-8.1M | $-48.7M | $-26.9M | $-10.2M | $-12.1M | $-30.7M | $-53.7M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $-3.8M | $-3.8M | $-3.3M | $-3.2M | $-51.4M | $6.4M | $21.5M | $18.6M |
| Net Change in Cash | — | — | — | — | — | — | — | — |
| Free Cash Flow | $16.6M | $-25.2M | $-10.4M | $-28.5M | $81.6M | $39.0M | $-16.1M | $-21.9M |