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MARA Holdings, Inc. (MARA)
NASDAQ: MARA · Real-Time Price · USD
11.32
-0.50 (-4.23%)
At close: Jul 31, 2026, 4:00 PM EDT
11.28
-0.04 (-0.35%)
After-hours: Jul 31, 2026, 7:59 PM EDT

MARA Holdings Financials Overview

Millions USD. Fiscal year is Jan - Dec.

Revenue & Profits
Chart
Fiscal YearTTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingMar '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Revenue
867.82907.09656.38387.51117.75159.16
Revenue Growth
23.08%38.20%69.38%229.08%-26.02%3553.04%
Gross Profit
286.6339.83237.11160.8745.04131.67
Operating Income
-1,745-1,224306.11220.91-673.54-2.99
Net Income
-2,038-2,6231,083520.23-1,388-29.81
Earnings Per Share
-5.72-3.691.721.06-6.12-0.30
EPS Growth
--62.26%---

Revenue by Segment
Chart
Fiscal YearTTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingMar '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Operator - Transaction Fees
7.439.2132.8832.65.233.32
Participant
49.3644.833225.14.6520.9
Hosting Services
4.64.6731.64---
Operator - Block Rewards and Other
808.28848.39559.85329.81107.87134.94
Revenue (Total)
867.82907.09656.38387.51117.75159.16

Cash & Debt
Chart
Fiscal YearCurrentFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingMar '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Cash & Investments
525.65559.13403.77357.31112.51268.56
Total Debt
2,4643,6452,474326.13783.51728.41
Net Cash (Debt)
-1,938-3,086-2,07031.18-671.01-459.85
Net Cash Growth
------
Net Cash Per Share
-4.64-8.69-6.640.16-5.91-4.63

Cash Flow & CapEx
Chart
Fiscal YearTTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingMar '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Operating Cash Flow
-834.73-802.73-677.02-315.65-176.48-18.96
Capital Expenditures
-504.18-560.31-1,068-186.55-524.95-708.92
Free Cash Flow
-1,339-1,363-1,745-502.2-701.43-727.88
Free Cash Flow Growth
------

Margins
Chart
Fiscal YearTTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingMar '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Gross Margin
33.03%37.46%36.12%41.51%38.25%82.73%
Operating Margin
-201.04%-134.96%46.64%57.01%-572.00%-1.88%
Pretax Margin
-231.50%-150.84%93.92%71.64%-609.97%-3.04%
Profit Margin
-235.17%-144.63%82.42%67.40%-589.39%-18.73%
FCF Margin
-154.28%-150.26%-265.88%-129.60%-595.68%-457.32%

Valuation
Chart
Fiscal YearCurrentFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingAug '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
PE Ratio
--9.7522.16--
Forward PE
42.6029.6154.9732.10165.2310.95
PS Ratio
4.973.768.6914.724.2321.21