Meta is anticipating capital expenditures of around $137.5 billion this year-a total that analysts expect to put it into negative free cash flow territory in the latter half of the year for the first time since its IPO in 2012.

The company will likely fall deeper in the hole next year, when projections via FactSet suggest it will burn through more than $20 billion in cash.

Meta needs its spending to start paying off, soon.