Fermi Inc. (FRMI)

Fermi Cash Flow Statement

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

Fiscal Year	FY 2025
Period Ending	Dec 31, 2025
Net Income	-486.38
Stock-Based Compensation	132.75
Other Adjustments	312.97
Changes in Accounts Payable	15
Changes in Other Operating Activities	-8.49
Operating Cash Flow	-34.15
Capital Expenditures	-569.3
Other Investing Activities	-0.96
Investing Cash Flow	-570.26
Long-Term Debt Issued	201.62
Long-Term Debt Repaid	-20
Net Long-Term Debt Issued (Repaid)	181.62
Issuance of Common Stock	745.63
Net Common Stock Issued (Repurchased)	745.63
Issuance of Preferred Stock	107.55
Net Preferred Stock Issued (Repurchased)	107.55
Other Financing Activities	-21.87
Financing Cash Flow	1,013
Net Cash Flow	408.53
Free Cash Flow	-603.46
Free Cash Flow Per Share	-1.29
Levered Free Cash Flow	-867.55
Unlevered Free Cash Flow	-740.57

Updated Mar 30, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q