VSEC: the cash flow

MyFinsight

For the year ending 2025-12-31, VSEC had $40,328K increase in cash & cash equivalents over the period. $5,709K in free cash flow.

Cash Flow	2025-12-31
Net income	11,703
Depreciation and amortization	39,924
Amortization of debt issuance costs	1,464
Deferred taxes	-58
Stock-based compensation	12,835
Specific provision for inventory	0
Impairment and loss on sale of business segments	-47,046
Loss on sale of property and equipment	-45
Lease abandonment and termination costs	0
Earn-out receivable adjustments	29,200
Interest income on note receivable	2,041
Receivables	26,531
Contract assets	8,570
Inventories	56,870
Prepaid expenses and other current assets and other assets	4,532
Operating lease assets and liabilities, net	-2,376
Accounts payable and deferred compensation	-10,932
Accrued expenses and other current and noncurrent liabilities	-8,069
Net cash provided by (used in) operating activities	26,990
Purchases of property and equipment	21,281
Proceeds from the sale of business segments, net of cash divested	138,973
Proceeds from payments on notes receivable	0
Cash paid for acquisitions, net of cash acquired	394,144
Net cash used in investing activities	-276,452
Borrowings on bank credit facilities	667,335
Repayments on bank credit facilities	803,585
Proceeds from issuance of common stock	442,167
Payment of debt financing costs	2,584
Payment of taxes for equity transactions	5,138
Dividends paid	8,263
Other	-142
Net cash provided by financing activities	289,790
Net increase in cash and cash equivalents	40,328
Cash and cash equivalents, beginning of period	29,030
Cash and cash equivalents, end of period	69,358

Unit: Thousand (K) dollars (except for numbers of shares and EPS).