Ecarx Holdings Inc. cash flow statement

In fiscal 2025, Ecarx Holdings Inc.'s operations generated −$94.4m of cash; it spent $12.2m on capital projects, leaving free cash flow of −$107m.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Ecarx Holdings Inc.: cash flow statement, annual
Fiscal year	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash from operations	−53	−141	−59	−172	−60	−94
Depreciation and amortisation	—	—	10	12	21	20
Stock-based pay	2	28	105	25	19	13
Capital spending	10	13	19	9	16	12
Free cash flow	−63	−154	−77	−181	−76	−107
Free cash flow after stock pay	−65	−182	−183	−206	−95	−120

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Ecarx Holdings Inc.'s SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Ecarx Holdings Inc.