Liquidity remains highly volatile, evidenced by a $1.4 billion operating cash flow outflow in 2025Q4 and a subsequent drop in cash and equivalents to $6.3 million by 2026Q1.
| Cash from Operations | -1.46B | -28.42M | -14.99M | 12.27M | 61.15M | -9.23M | 19.59M | -7.89M |
| Operating CF Growth % | -220187.42% | -89.61% | -222.23% | -79.94% | 762.4% | -147.14% | 348.26% | - |
| Net Income | 15.64M | 16.09M | 12.74M | 17.46M | 25.11M | 31.58M | 11.2M | 9.66M |
| Depreciation & Amortization | 1.13M | 0 | 5.26M | 3.81M | 2.11M | 1.04M | 1.01M | 460K |
| Deferred Taxes | -268K | 0 | 90K | 1.92M | 656K | -1.37M | -312K | 11K |
| Other Non-Cash Items | -1.46B | -40.71M | -34.32M | -13.15M | 35.27M | -46.66M | 4.62M | -17.77M |
| Working Capital Changes | -3.54M | -3.8M | -816K | 182K | -2.77M | 4.08M | 1.32M | -2.02M |
| Cash from Investing | 1.36B | -126.91M | -132.38M | -152.87M | -35.83M | 24.26M | -130.22M | -29.29M |
| Purchase of Investments | 0 | 0 | -30.02M | -2.96M | -5.04M | -10.4M | -1.75M | 0 |
| Sale/Maturity of Investments | 765K | 0 | 2.84M | 1.84M | 1.95M | 678K | 375K | 125K |
| Net Investment Activity | 765K | 0 | -27.18M | -1.11M | -3.09M | -9.72M | -1.37M | 125K |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | 1.36B | -126.91M | -100.31M | -144.3M | -25.53M | 36.31M | -128.25M | -28.87M |
| Cash from Financing | 148.75M | 209.57M | 139.56M | 157.01M | -10.51M | 23.35M | 123.23M | 45.95M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | -461K | -4.74M | -1.14M | 0 | -41K | -89K |
| Stock Issued | 461K | 481K | 0 | 0 | 0 | 35.58M | 0 | 0 |
| Net Stock Activity | 461K | 481K | -461K | -4.74M | -1.14M | 35.58M | -41K | -89K |
| Debt Issuance (Net) | 0 | 0 | -126K | -125K | -736K | -1000K | 1000K | 0 |
| Other Financing | 148.29M | 209.09M | 140.14M | 161.88M | -8.63M | 87.73M | 22.27M | 46.04M |
| Net Change in Cash | 43.13M | 54.24M | -7.81M | 16.41M | 14.81M | 38.37M | 12.6M | 8.78M |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 0 | 109.16M | 116.97M | 100.57M | 85.75M | 47.38M | 34.78M | 26M |
| Cash at End | 0 | 163.4M | 109.16M | 116.97M | 100.57M | 85.75M | 47.38M | 34.78M |
| Interest Paid | 16.16M | 19.16M | 14.56M | 9.41M | 1.43M | 1.41M | 1.63M | 1.4M |
| Income Taxes Paid | 6.65M | 7.06M | 8.06M | 6.63M | 9.36M | 10.47M | 3.33M | 3.18M |
| Free Cash Flow | -1.47B | -5.7B | -19.89M | 4.81M | 53.94M | -11.57M | 18.99M | -8.43M |
| FCF Growth % | -3263.78% | -28561.03% | -513.69% | -91.09% | 566.37% | -160.9% | 325.33% | - |
Fintech partner credit concentration
According to historical financial data, FinWise Bancorp has consistently refrained from dividend payments or share repurchases, opting instead to retain all earnings to bolster its regulatory capital buffers, which appears necessary given the bank's rapid expansion and the inherent volatility of its fintech-led lending model.
The absence of capital returns suggests management is prioritizing the maintenance of a robust capital position to support ongoing loan origination volumes. This strategy appears prudent given the potential for credit losses to erode equity, particularly as the bank scales its partnership-driven lending programs.
As reported in recent quarterly filings, the bank's provision for credit losses surged to $17.7 million in 2025Q4, a significant escalation from the $3.2 million recorded in 2024Q1, which indicates that the institution is aggressively adjusting its reserves to account for potential deterioration in fintech-originated loan portfolios.
The sharp increase in provisions suggests that the bank is proactively managing credit risk, though this significantly impacts the net income available for capital generation. Investors should monitor whether these provisions are sufficient to cover actual charge-offs as the underlying consumer credit environment continues to evolve.
Based on the provided cash flow statements, operating cash flow has exhibited extreme volatility, including a $1.4 billion outflow in 2025Q4, which highlights the bank's reliance on large-scale loan originations and subsequent sales that dominate the cash flow profile rather than traditional deposit-funded interest income.
The erratic nature of operating cash flow is characteristic of a bank that functions as a high-volume fintech enabler rather than a traditional depository institution. This suggests that liquidity management is highly sensitive to the timing of loan sales into the secondary market.
Data from recent periods indicates that FinWise Bancorp maintains a negligible investment securities portfolio, with minimal purchase or sale activity observed, suggesting that the bank prefers to deploy its liquidity directly into loan originations rather than holding a traditional portfolio of interest-bearing investment securities.
This lack of investment activity reinforces the bank's focus on its core lending-as-a-service model, where capital is recycled through loan sales rather than held in long-duration assets. This approach minimizes interest rate risk associated with securities portfolios but increases exposure to secondary market liquidity conditions.
Quick answers to the most common questions about buying FINW stock.
FinWise Bancorp (FINW) generated $-28.4M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
FinWise Bancorp (FINW) reported negative free cash flow of $5.70B in 2025, indicating capital requirements exceeded cash from operations.
FinWise Bancorp (FINW) spent $0.0M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.