Cipher Digital Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Revenue	209.82	223.94	151.27	126.84	3.04
Revenue Growth (YoY)	37.96%	48.04%	19.26%	4076.56%	-
Cost of Revenue	183.86	160.35	123.16	107.71	0.75
Gross Profit	25.97	63.6	28.11	19.13	2.29
Selling, General & Admin	39.17	36.38	32.66	27.8	70.84
Depreciation & Amortization Expenses	174.52	198.97	102.45	59.09	4.38
Other Operating Expenses	310.32	249.81	-63.29	-47.64	-35.5
Operating Income	-498.04	-421.56	-43.7	-20.12	-37.42
Interest Income	50.88	19.48	3.38	0.16	0.22
Interest Expense	-94.94	-36.56	-1.71	-2	-0.14
Other Non-Operating Income (Expense)	-358.53	-386.91	-2.29	-0.26	0.13
Total Non-Operating Income (Expense)	-402.59	-403.99	-0.62	-2.1	0.21
Pretax Income	-900.64	-825.56	-44.32	-22.21	-37.21
Provision for Income Taxes	-3.05	-3.31	0.32	3.57	1.84
Net Income	-897.59	-822.24	-44.64	-25.78	-39.05
Net Income to Common	-897.59	-822.24	-44.64	-25.78	-39.05
Shares Outstanding (Basic)	393	382	323	252	248
Shares Outstanding (Diluted)	393	382	323	252	248
Shares Change (YoY)	14.47%	18.11%	27.99%	1.70%	-
EPS (Basic)	-2.26	-2.15	-0.14	-0.10	-0.16
EPS (Diluted)	-2.26	-2.15	-0.14	-0.10	-0.16
Shares Outstanding	405.27	404.96	350.78	290.96	247.55
Free Cash Flow	-1,010	-700.73	-389.96	-148.63	-248.24
Free Cash Flow Per Share	-2.57	-1.84	-1.21	-0.59	-1.00
Gross Margin	12.37%	28.40%	18.58%	15.08%	75.37%
Operating Margin	-237.37%	-188.25%	-28.89%	-15.86%	-1232.17%
Profit Margin	-427.79%	-367.17%	-29.51%	-20.32%	-1285.91%
FCF Margin	-481.46%	-312.91%	-257.79%	-117.18%	-8173.76%
EBITDA	-373.84	-220.94	60	39.8	-32.27
EBITDA Margin	-178.17%	-98.66%	39.66%	31.38%	-1062.59%
EBIT	-498.04	-421.56	-43.7	-20.12	-37.42
EBIT Margin	-237.37%	-188.25%	-28.89%	-15.86%	-1232.17%
Effective Tax Rate	0.34%	0.40%	-0.72%	-16.06%	-4.94%

Updated May 5, 2026. Data Source: Fiscal.ai. standard template. Financial Sources.

SEC Filings: 10-K · 10-Q