BenevolentAI Investor Conference Presentation Deck
Cash flows focused upon drug and platform
development
Normalised¹ operating loss
Depreciation & amortisation
Equity SBP expense
Foreign exchange loss
Cash flows from changes in working capital
Cash expended from underlying operating activities
Opening cash balance²
Closing cash balance²
1. Excludes exceptional costs related to the restructuring programme.
2. Includes cash, cash equivalents and short-term deposits (maturity between 3
and 12 months).
Six months ended
30 June
2023
£'000
BenevolentAl Proprietary
(40,560)
1,530
6,211
391
(20,117)
(52,545)
130,182
84,320
Main movements for Normalised¹
operating loss to Cash expended from
underlying operating activities
• £0.8m depreciation on
property-related leases.
Employee-related SBP expenses
removed from the P&L (no cash
impact).
• £1.2m unrealised gain from EUR
holdings, £1.6m unrealised loss from
USD holdings.
• Driven by increase in R&D tax credit
receivable (£7.1m); decrease in trade
& other payables (£6.9m); and
decrease in SBP employer-related
tax provision (£3.6m).
• Period end cash position of £84.3m.
Benevolent 22View entire presentation