TeraWulf 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	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-661.42	-72.42	-73.42	-90.79	-104.38
Depreciation & Amortization	73.45	56.08	29.35	6.97	0.06
Other Amortization	22.18	11.38	19.52	11.68	1
Loss (Gain) From Sale of Assets	4.9	17.82	1.21	-	-
Asset Writedown & Restructuring Costs	19.6	5.1	-	-	-
Loss (Gain) on Equity Investments	4.13	-25.97	9.29	15.71	1.68
Stock-Based Compensation	53.28	30.93	8.78	3.65	13.64
Other Operating Activities	289.32	-37.25	20.05	7.36	52.9
Change in Accounts Receivable	-0.91	-	-	-	-
Change in Accounts Payable	-3.24	0.74	-7.27	10.2	10.61
Change in Other Net Operating Assets	75.52	-10.84	-3.34	2.97	1.43
Operating Cash Flow	-123.18	-24.42	4.26	-34.07	-26.29
Capital Expenditures	-1,060	-267.94	-75.17	-72.86	-180.14
Sale of Property, Plant & Equipment	11.65	23.32	-	13.27	-
Cash Acquisitions	-21.73	-	-	-	-11.21
Investment in Securities	-450	86.09	-2.85	-46.17	-102.45
Other Investing Activities	151.33	67.37	-	11.72	74.08
Investing Cash Flow	-1,369	-91.16	-78.01	-94.05	-219.72
Short-Term Debt Issued	-	0.21	3.76	25.16	-
Long-Term Debt Issued	5,225	500	-	22.5	-
Total Debt Issued	5,225	500.21	3.76	47.66	156.3
Short-Term Debt Repaid	-	-2.1	-2.74	-20.23	-
Long-Term Debt Repaid	-9.16	-140.34	-6.6	-	-
Total Debt Repaid	-9.16	-142.45	-9.34	-20.23	-27.27
Net Debt Issued (Repaid)	5,216	357.77	-5.57	27.43	129.03
Issuance of Common Stock	5.69	194.19	139.47	53.17	113.86
Repurchase of Common Stock	-61.77	-141.87	-2.01	-	-
Other Financing Activities	-218.92	-74.87	-12.02	-0.18	-
Financing Cash Flow	4,941	335.21	119.87	89.98	296.69
Net Cash Flow	3,449	219.63	46.12	-38.13	50.68
Free Cash Flow	-1,183	-292.36	-70.91	-106.92	-206.43
Free Cash Flow Margin	-702.48%	-208.75%	-102.42%	-711.25%	-
Free Cash Flow Per Share	-2.98	-0.83	-0.34	-0.97	-2.42
Cash Interest Paid	14	6.96	19.57	13.99	0.27
Levered Free Cash Flow	-113.67	-191.97	-91.36	-58.85	-
Unlevered Free Cash Flow	-85.69	-190.99	-89.12	-55.1	-
Change in Working Capital	71.37	-10.1	-10.61	13.16	12.04

Source: S&P Global Market Intelligence. Standard template. Financial Sources.