SHOULDER INNOVATIONS, INC.
Cash Flow Statement
| Line Item | FY2025 | FY2024 |
|---|---|---|
| Operating Activities | ||
| Net Income | $-40.4M | $-15.6M |
| Depreciation & Amortization | — | — |
| Depreciation | $2.9M | $1.9M |
| Amortization | — | — |
| Stock-Based Compensation | $996.0K | $754.0K |
| Net Cash from Operating Activities | $-28.6M | $-14.1M |
| Investing Activities | ||
| Capital Expenditures | $7.4M | $4.0M |
| Business Acquisitions | — | — |
| Net Cash from Investing Activities | $-95.6M | $14.0M |
| Financing Activities | ||
| Dividends Paid | — | — |
| Stock Repurchases | — | — |
| Net Cash from Financing Activities | $145.0M | $66.0K |
| Net Change in Cash | — | — |
| Free Cash Flow | $-36.0M | $-18.2M |