For the quarter ending 2026-03-31, UWMC had -$79,368K decrease in cash & cash equivalents over the period. -$2,248,942K in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net income (loss) | 170,374 | 164,484 | 12,088 | 314,479 |
| Reserve for representations and warranties | 5,575 | 9,531 | 5,582 | 9,800 |
| Capitalization of mortgage servicing rights | 1,101,017 | 1,180,631 | 829,978 | 901,271 |
| Change in fair value of mortgage servicing rights | -10,335 | -247,617 | -307,825 | -111,421 |
| Depreciation & amortization | 15,624 | 15,205 | 14,139 | 13,531 |
| Stock-based compensation expense | 13,162 | 15,592 | 14,732 | 11,729 |
| Decrease (increase) in fair value of investment securities | -303 | 1,042 | 1,628 | 403 |
| Decrease in fair value of warrants liability | 0 | -1,519 | 770 | -1,309 |
| Mortgage loans at fair value | 1,058,372 | -851,732 | 2,744,151 | -361,901 |
| Derivative assets | 86,923 | -53,879 | 32,090 | 15,398 |
| Other assets | 702,816 | -3,186 | -208,305 | 210,883 |
| Derivative liabilities | 311,242 | -14,634 | -35,473 | 48,764 |
| Other liabilities | 192,634 | -59,643 | 543 | -8,237 |
| Net cash (used in) provided by operating activities | -2,229,879 | 103,757 | -3,079,336 | -265,876 |
| Purchases of premises and equipment, and capitalization of internal-use software | 19,063 | 21,738 | 10,355 | 24,191 |
| Net proceeds from sale of mortgage servicing rights | 542,626 | 181,097 | 650,834 | 650,377 |
| Proceeds from principal payments on investment securities | 1,718 | 1,808 | 1,978 | 1,756 |
| Margin calls on borrowings against investment securities | -1,000 | -900 | 500 | 0 |
| Investment in private company equity securities | - | 0 | 100,000 | - |
| Net cash provided by investing activities | 524,281 | 160,267 | 542,957 | 627,942 |
| Net borrowings (repayments) under warehouse lines of credit | 987,807 | -871,168 | 2,529,138 | -318,613 |
| Repayments of finance lease liabilities | 513 | 487 | 509 | 573 |
| Repayments under equipment notes payable | - | 0 | - | - |
| Borrowings under secured lines of credit | 2,050,000 | 1,575,000 | 550,000 | 700,000 |
| Repayments under secured lines of credit | 1,250,000 | 375,000 | 975,000 | 525,000 |
| Borrowings against investment securities | 86,724 | 87,497 | 87,142 | 86,896 |
| Repayments of borrowings against investment securities | 87,497 | 87,142 | 86,896 | 88,776 |
| Proceeds from issuance of senior notes | - | 0 | 1,000,000 | - |
| Discount and direct issuance cost of senior notes | - | 86 | 8,313 | - |
| Repayments of senior notes | - | 800,000 | - | - |
| Dividends paid to class a common stockholders | 26,842 | 23,429 | 20,598 | 18,775 |
| Member distributions paid to sfs corp | 133,148 | 136,548 | 157,862 | 192,242 |
| Other financing activities | -301 | 0 | -4 | -23 |
| Net cash provided by (used in) financing activities | 1,626,230 | -631,363 | 2,917,098 | -357,106 |
| Decrease in cash and cash equivalents | -79,368 | -367,339 | 380,719 | 4,960 |
| Cash and cash equivalents, beginning of the period | 503,364 | 870,703 | 489,984 | 485,024 |
| Cash and cash equivalents, end of the period | 423,996 | 503,364 | 870,703 | 489,984 |
UWM Holdings Corp (UWMC)
UWM Holdings Corp (UWMC)