Filing Flows

Filing Flows › Companies › Core Scientific, Inc./tx › Cash flow

Core Scientific, Inc./tx cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$475M in Q3 2026 · −$1.3B over twelve months

Operating cash flow$65.3M
Capital spending−$541M
Free cash flow−$475M
Cash / net income0.1×

Analysis

In Q3 2026, Core Scientific, Inc./tx generated $65.3M of operating cash flow and spent $541M on capital projects, leaving free cash flow of −$475M. That is $363M less than in Q3 2025 (−$113M).

Over the twelve months to Sep 30, 2026, operating cash flow was $454M; the largest uses were capital spending ($1.8B), other investing ($677M), net borrowing (+) / repaid (−) ($1.1M); besides operations, cash came from other financing ($3.2B), asset & business sales ($7.6M); the cash balance rose by $1.2B.

Operating cash flow was $65.3M against net income of $1.2B — 0.1× profit, less cash than reported earnings, worth checking against working capital. The largest differences: deferred revenue −$79.3M, payables −$46.6M, prepaid and other assets +$30.9M.

Free cash flow

Core Scientific, Inc./tx: free cash flow by quarterCore Scientific, Inc./tx: free cash flow by quarter−$15.0MQ4 2024−$129MQ1 2025−$87.3MQ2 2025−$113MQ3 2025−$122MQ4 2025−$139MQ1 2026−$584MQ2 2026−$475MQ3 2026
Operating cash flow less capital spending.
Core Scientific, Inc./tx: operating cash flow against capital spendingCore Scientific, Inc./tx: operating cash flow against capital spendingOperating cash flowCapital spending$13.8M$28.8MQ4 2024−$45.0M$84.0MQ1 2025$34.0M$121MQ2 2025$132M$244MQ3 2025$158M$279MQ4 2025$250M$389MQ1 2026−$18.9M$565MQ2 2026$65.3M$541MQ3 2026
Latest (Q3 2026): Operating cash flow $65.3M, Capital spending $541M.

Capital allocation, year by year

Core Scientific, Inc./tx: where the cash came from (up) and went (down), by fiscal yearCore Scientific, Inc./tx: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksFY2021: Operating cash flow −$56.7MFY2021: Net borrowing $614MFY2021: Shares issued $345M$959MFY2021FY2022: Operating cash flow $205MFY2022: Net borrowing $118MFY2022: Shares issued $25.0MFY2022: Capital spending −$384MFY2022: Buybacks −$31.6M$348MFY2022FY2023: Operating cash flow $65.1MFY2023: Net borrowing −$44.6MFY2023: Asset sales $14.0MFY2023: Capital spending −$16.2M$79.1MFY2023FY2024: Operating cash flow $42.9MFY2024: Net borrowing −$291MFY2024: Shares issued $55.0MFY2024: Capital spending −$95.0M$97.9MFY2024FY2025: Operating cash flow $278MFY2025: Net borrowing −$10.3MFY2025: Asset sales $3.5MFY2025: Capital spending −$729M$282MFY2025
Over these 5 years operating cash flow totalled $535M; the largest uses were capital spending ($1.2B) and net borrowing ($346M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$804M
Debt$4.3B
Net debt$3.5B

Core Scientific, Inc./tx's operations bring cash in ($454M over twelve months), and it spends more than that on capital projects: a gap of $1.3B funded from its $804M of cash and investments and from borrowing ($4.3B of debt). That is a choice to invest, not a cash runway running down.

Where the cash came from and went

Core Scientific, Inc./tx: sources (+) and uses (−) of cash, Q3 2026Core Scientific, Inc./tx: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)$910MCapital spending−$541MOther investing−$444MOperating cash flow$65.3MOther financing$7.9MAsset & business sales$2.2M
Core Scientific, Inc./tx: sources (+) and uses (−) of cash, TTM to Q3 2026Core Scientific, Inc./tx: sources (+) and uses (−) of cash, TTM to Q3 2026Other financing$3.2BCapital spending−$1.8BCash drawn (+) / kept (−)−$1.2BOther investing−$677MOperating cash flow$454MAsset & business sales$7.6MNet borrowing (+) / repaid (−)−$1.1M

From profit to cash

Core Scientific, Inc./tx: net income to operating cash flow, Q3 2026Core Scientific, Inc./tx: net income to operating cash flow, Q3 2026Net income$1.2BDepreciation & amortization$18.0MStock-based pay$25.2MGains on disposals$5.3MPayables−$46.6MAccrued liabilities$11.9MDeferred revenue−$79.3MPrepaid and other assets$30.9MOther operating capital−$21.5MOperating cash flow$65.3M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q1 20251—16-15
Q4 20244—13-10

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$65.3M−$541M—$910M−$475M
Q2 2026−$18.9M−$565M$3.3B−$1.4B−$584M
Q1 2026$250M−$389M$994M−$835M−$139M
Q4 2025$158M−$279M—$142M−$122M
Q3 2025$132M−$244M−$547K$128M−$113M
Q2 2025$34.0M−$121M−$5.3M$117M−$87.3M
Q1 2025−$45.0M−$84.0M−$4.5M$138M−$129M
Q4 2024$13.8M−$28.8M−$13.6M−$583M−$15.0M

Core Scientific, Inc./tx: income statement and cash flow

Core Scientific, Inc./tx, Q3 2026: revenue $233M (+187% year over year), operating margin 31.1%. The chart follows the revenue to costs, profit and cash.

Core Scientific, Inc./tx: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.