TeraWulf 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	FY 2020
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	Dec '20 Dec 31, 2020
Revenue	168.06	168.46	140.05	69.23	15.03	13.43
Revenue Growth (YoY)	27.30%	20.28%	102.30%	360.51%	11.92%	-23.76%
Cost of Revenue	60.47	82.66	62.61	27.32	11.08	9.53
Gross Profit	107.59	85.79	77.44	41.91	3.95	3.91
Selling, General & Admin	225.38	147.76	70.58	37.02	36.05	5.02
Depreciation & Amortization Expenses	101.5	88.6	59.81	28.35	6.67	-
Research & Development	-	-	-	-	-	0.67
Other Operating Expenses	69.44	35.65	23.27	5.97	4.98	-
Total Operating Expenses	396.32	272.01	153.66	71.34	47.7	5.69
Operating Income	-288.73	-186.21	-76.22	-29.42	-43.75	-1.79
Interest Income	5.33	-	-	-	-	-
Interest Expense	-143.27	-80.25	-19.79	-34.81	-24.68	-0.09
Other Non-Operating Income (Expense)	-616.71	-390.75	-2.37	0.23	-2.05	1.22
Total Non-Operating Income (Expense)	-754.65	-471	-22.17	-34.58	-26.73	1.14
Pretax Income	-1,012	-657.21	-98.38	-64	-70.48	-0.65
Provision for Income Taxes	-0.1	-0.08	-	-	0.26	-0.21
Net Income	-1,028	-1,323	-144.84	-146.84	-181.58	-0.44
Minority Interest in Earnings	15.75	4.13	-25.97	9.29	15.71	-
Earnings From Discontinued Operations	-	-	-	-0.13	-4.86	-
Net Income to Common	-1,028	-1,323	-144.84	-146.84	-181.58	-0.44
Shares Outstanding (Basic)	408	398	351	210	111	2
Shares Outstanding (Diluted)	408	398	351	210	111	2
Shares Change (YoY)	8.88%	13.18%	67.33%	89.77%	5498.15%	-0.20%
EPS (Basic)	-2.48	-1.66	-0.21	-0.35	-1.64	-0.22
EPS (Diluted)	-2.48	-1.66	-0.21	-0.35	-1.64	-0.22
Shares Outstanding	425.05	420.07	385.65	276.73	145.49	1.98
Free Cash Flow	-1,687	-1,183	-292.36	-70.91	-95.18	-0.55
Free Cash Flow Per Share	-4.14	-2.98	-0.83	-0.34	-0.86	-0.28
Gross Margin	64.02%	50.93%	55.30%	60.54%	26.28%	29.07%
Operating Margin	-171.80%	-110.54%	-54.42%	-42.50%	-290.99%	-13.30%
Profit Margin	-602.17%	-782.82%	-121.96%	-198.50%	-1071.06%	-3.27%
FCF Margin	-1003.67%	-702.48%	-208.75%	-102.42%	-633.15%	-4.09%
EBITDA	-181.59	-93.16	-15.04	-0.07	-36.78	-1.12
EBITDA Margin	-108.05%	-55.30%	-10.74%	-0.10%	-244.63%	-8.37%
EBIT	-288.73	-186.21	-76.22	-29.42	-43.75	-1.79
EBIT Margin	-171.80%	-110.54%	-54.42%	-42.50%	-290.99%	-13.30%
Effective Tax Rate	0.01%	0.01%	0.00%	0.00%	-0.36%	32.34%

Updated May 8, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q