So-Young International Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||
| Net Income | $-34.6M | $-80.8M | $3.0M | $-9.5M | $-1.3M | $891.0K | $25.4M |
| Depreciation & Amortization | $8.2M | $6.3M | $6.5M | $6.8M | $4.7M | $2.2M | $880.0K |
| Depreciation | — | — | — | — | — | — | — |
| Amortization | — | — | — | — | — | — | — |
| Stock-Based Compensation | $1.3M | $4.5M | $5.1M | $6.3M | $16.7M | $14.1M | $15.0M |
| Net Cash from Operating Activities | $-15.1M | $-3.5M | $3.2M | $-16.4M | $13.2M | $27.5M | $55.1M |
| Investing Activities | |||||||
| Capital Expenditures | $28.1M | $8.6M | $7.2M | $2.3M | $7.1M | $5.7M | $5.4M |
| Business Acquisitions | — | — | — | $14.1M | $99.9M | $6.3M | — |
| Net Cash from Investing Activities | $-6.1M | $35.2M | $-28.5M | $-83.0M | $53.3M | $19.0M | $-191.8M |
| Financing Activities | |||||||
| Dividends Paid | $2.7M | $6.0M | — | — | — | — | — |
| Stock Repurchases | $2.2M | $2.5M | $17.7M | $2.2M | $34.2M | — | — |
| Net Cash from Financing Activities | $-9.1M | $-2.9M | $-14.1M | $-2.0M | $-34.0M | $-889.0K | $182.2M |
| Net Change in Cash | $-30.5M | $29.2M | $-37.8M | $-93.2M | $31.1M | $37.5M | $48.5M |
| Free Cash Flow | $-43.2M | $-12.1M | $-4.0M | $-18.6M | $6.2M | $21.8M | $49.7M |