CoreWeave Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	-1,167	-863	-594	-31.06
Depreciation & Amortization	2,454	863	103	11.7
Other Amortization	110	33	16	3.8
Stock-Based Compensation	630	31	15	1.49
Other Operating Activities	399	1,007	591	1.81
Change in Accounts Receivable	-2,749	-280	-162	-1.89
Change in Accounts Payable	253	511	27	1.4
Change in Unearned Revenue	4,174	2,049	1,986	9.35
Change in Other Net Operating Assets	-1,046	-602	-149	-0.96
Operating Cash Flow	3,058	2,749	1,833	0.91
Operating Cash Flow Growth	11.24%	49.97%	201328.57%	-
Capital Expenditures	-10,309	-8,702	-2,943	-72.4
Cash Acquisitions	-108	-	-	-
Investment in Securities	-4	154	-166	7
Other Investing Activities	150	-110	-39	-13.78
Investing Cash Flow	-10,271	-8,658	-3,148	-79.18
Long-Term Debt Issued	11,829	7,018	1,404	90
Long-Term Debt Repaid	-3,399	-589	-2	-3.06
Net Debt Issued (Repaid)	8,430	6,429	1,402	86.95
Issuance of Common Stock	1,511	3	17	-
Repurchase of Common Stock	-144	-	-	-
Preferred Dividends Paid	-29	-58	-	-
Dividends Paid	-29	-58	-	-
Other Financing Activities	-460	-82	-52	-5.49
Financing Cash Flow	9,308	7,464	1,788	81.45
Net Cash Flow	2,095	1,555	473	3.18
Free Cash Flow	-7,251	-5,953	-1,110	-71.49
Free Cash Flow Margin	-141.32%	-310.86%	-484.72%	-451.64%
Free Cash Flow Per Share	-16.63	-27.31	-5.78	-0.40
Cash Interest Paid	869	184	-	5.12
Cash Income Tax Paid	-1	14	-	0.26
Levered Free Cash Flow	-4,623	-6,630	-	-
Unlevered Free Cash Flow	-3,965	-6,437	-	-
Change in Working Capital	632	1,678	1,702	7.91

Source: S&P Capital IQ. Standard template. Financial Sources.