# CoreWeave, Inc (CRWV) FY2025 Annual Statement of Cash Flows

- Company: CoreWeave, Inc (CRWV)
- Period: 2025-01-01 to 2025-12-31
- Filing: FY2025 10-K, filed 2026-03-02, accession number 0001769628-26-000104
- Page: https://plicit.ai/financials/crwv/fy2025-annual-cash-flow
- Chart image: https://plicit.ai/charts/crwv-fy2025-annual-cash-flow-sankey.png

## Chart details

Cash flows for Jan 1, 2025 through Dec 31, 2025. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 31, 2024. Ending cash: Dec 31, 2025. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

- **Beginning cash on Dec 31, 2024**: 2,035,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
- **Operating activities**: 3,058,000,000 US dollars. Net cash provided.
- **Net loss**: negative 1,167,000,000 US dollars
- **Depreciation and amortization**: 2,454,000,000 US dollars
- **Non-cash lease expense**: 357,000,000 US dollars
- **Amortization of debt discounts and issuance costs and accretion of redemption premiums**: 110,000,000 US dollars
- **Loss (gain) on fair value adjustments**: negative 27,000,000 US dollars
- **Stock-based compensation expense**: 630,000,000 US dollars
- **Debt extinguishment loss**: 19,000,000 US dollars
- **Deferred income taxes**: negative 53,000,000 US dollars
- **Other non-cash reconciling items**: 103,000,000 US dollars
- **Accounts receivable**: negative 2,749,000,000 US dollars
- **Prepaid expenses and other assets**: negative 784,000,000 US dollars
- **Accounts payable and accrued expenses**: 253,000,000 US dollars
- **Deferred revenue**: 4,174,000,000 US dollars
- **Lease liabilities**: negative 262,000,000 US dollars
- **Other liabilities**: 0 US dollars
- **Investing activities**: negative 10,271,000,000 US dollars. Net cash used.
- **Purchase of property and equipment, including capitalized internal-use software**: negative 10,309,000,000 US dollars
- **Purchases of marketable securities**: negative 47,000,000 US dollars
- **Maturities and sales of marketable securities**: 43,000,000 US dollars
- **Sales of warrants received as lease incentive**: 254,000,000 US dollars
- **Business combinations, net of cash acquired**: negative 108,000,000 US dollars
- **Issuance of notes receivable**: negative 90,000,000 US dollars
- **Other investing activities**: negative 14,000,000 US dollars
- **Financing activities**: 9,308,000,000 US dollars. Net cash provided.
- **Proceeds from issuance of debt, net**: 11,829,000,000 US dollars
- **Repayments of debt**: negative 3,399,000,000 US dollars
- **Purchase of capped calls related to convertible senior notes**: negative 340,000,000 US dollars
- **Issuance of redeemable convertible preferred stock, net of issuance costs**: 0 US dollars
- **Redeemable convertible preferred stock cash dividends paid**: negative 29,000,000 US dollars
- **Proceeds from exercise of stock options**: 20,000,000 US dollars
- **Proceeds from initial public offering, net of underwriting discounts and commissions**: 1,491,000,000 US dollars
- **Payment of tax withholdings on settlement of restricted stock units**: negative 144,000,000 US dollars
- **Proceeds from issuance of common stock**: 0 US dollars
- **Other financing activities**: negative 120,000,000 US dollars
- **Operating adjustment reconciliation**: 8,100,000,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
- **financing gross reconciliation**: 13,340,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
- **investing gross reconciliation**: 10,568,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
- **Exchange-rate effect**: 0 US dollars
- **Ending cash on Dec 31, 2025**: 4,130,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
- **Cash sources and uses**: 14,401,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
- **Net cash change**: 2,095,000,000 US dollars. Ending cash minus beginning cash.
- **Cash flow / Net income**: Not meaningful. Operating cash flow divided by reconciliation net income for the same period. The ratio is not meaningful when net income is zero or negative.
- **Operating cash flow**: 3,058,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
- **Cash purchases of property, plant and equipment**: 10,309,000,000 US dollars. These cash purchases are already included in investing activities above.
- **Free cash flow**: negative 7,251,000,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

### Chart connections

- Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
- Financing contributions meet at a reconciliation junction before connecting to the net cash total.
- Investing contributions meet at a reconciliation junction before connecting to the net cash total.
- Operating reconciliation adjustments are not all independent cash receipts.
- Net loss −$1.17B + net operating adjustments $4.23B = operating cash +$3.06B. The loss reduces the earnings basis of the reconciliation; it is not a cash payment. The signed loss remains a deduction at the operating reconciliation junction.
- Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
- The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
- Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 3,058,000,000 US dollars minus 10,309,000,000 US dollars equals negative 7,251,000,000 US dollars.