Fermi Inc.
Cash Flow Statement
| Line Item | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 |
|---|---|---|---|---|---|---|
| Operating Activities | ||||||
| Net Income | $-25.8M | $-188.7M | $-133.2M | $-346.8M | $-6.3M | $-78.0K |
| Depreciation & Amortization | — | — | — | — | — | — |
| Depreciation | — | — | — | — | — | — |
| Amortization | — | — | — | — | — | — |
| Stock-Based Compensation | — | $134.0M | — | — | — | $0 |
| Net Cash from Operating Activities | $-48.7M | $-7.3M | $-25.9M | $-5.7M | $-2.6M | $-46.0K |
| Investing Activities | ||||||
| Capital Expenditures | $185.0M | $441.2M | $528.8M | $153.9K | $40.3M | $32.0K |
| Business Acquisitions | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-185.0M | $-441.2M | $-473.9M | $-53.4M | $-42.8M | $-32.0K |
| Financing Activities | ||||||
| Dividends Paid | — | — | — | — | — | — |
| Stock Repurchases | — | — | — | — | — | — |
| Net Cash from Financing Activities | $82.1M | $283.3M | $725.3M | $201.8M | $85.5M | $297.0K |
| Net Change in Cash | — | — | — | — | — | — |
| Free Cash Flow | $-233.6M | $-448.5M | $-554.7M | $-5.8M | $-42.9M | $-78.0K |