MARA Holdings 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 2021
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 '21 Dec 31, 2021
Revenue	867.82	907.09	656.38	387.51	117.75	159.16
Revenue Growth (YoY)	23.08%	38.20%	69.38%	229.08%	-26.02%	3553.04%
Cost of Revenue	581.22	567.27	419.26	226.64	72.72	27.49
Gross Profit	286.6	339.83	237.11	160.87	45.04	131.67
Selling, General & Admin	350.93	349.94	253.96	83.61	56.64	174.36
Depreciation & Amortization Expenses	806.43	772.77	429.19	179.58	78.71	14.9
Research & Development	29.07	30.12	13.23	2.81	0.1	-
Other Operating Expenses	844.86	411.25	-765.38	-326.04	411.26	99.11
Total Operating Expenses	2,031	1,564	-69	-60.04	546.71	288.37
Operating Income	-1,745	-1,224	306.11	220.91	-673.54	-2.99
Interest Income	54.39	55.86	16.71	2.81	1.02	-
Interest Expense	-49.16	-48.38	-13	-10.35	-14.98	-1.57
Other Non-Operating Income (Expense)	-270.56	-151.49	306.68	64.23	-30.75	-0.29
Total Non-Operating Income (Expense)	-265.33	-144.02	310.39	56.69	-44.71	-1.86
Pretax Income	-2,009	-1,368	616.5	277.6	-718.25	-4.85
Provision for Income Taxes	31.86	-56.38	75.5	16.43	-24.23	24.97
Net Income	-2,038	-1,311	541.25	259.05	-694.02	-29.81
Minority Interest in Earnings	-2.95	-0.41	-0.25	-	-	-
Net Income Attributable to Preferred Dividends	-	-	-	2.12	-	-
Net Income to Common	-2,038	-1,311	541.25	259.05	-694.02	-29.81
Net Income Growth	-	-	108.94%	-	-	-
Shares Outstanding (Basic)	371	355	290	184	113	99
Shares Outstanding (Diluted)	417	355	312	192	113	99
Shares Change (YoY)	24.84%	13.89%	62.17%	69.47%	14.22%	22.02%
EPS (Basic)	-5.21	-3.69	1.87	1.41	-6.12	-0.30
EPS (Diluted)	-5.72	-3.69	1.72	1.06	-6.12	-0.30
EPS Growth	-	-	62.26%	-	-	-
Shares Outstanding	380.87	379.47	340.26	242.83	145.57	102.73
Free Cash Flow	-1,339	-1,363	-1,745	-502.2	-701.43	-727.88
Free Cash Flow Per Share	-3.21	-3.84	-5.60	-2.61	-6.18	-7.33
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%
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%
EBITDA	-938.26	-451.48	735.3	406.45	-572.05	11.92
EBITDA Margin	-108.12%	-49.77%	112.02%	104.89%	-485.81%	7.49%
EBIT	-1,745	-1,224	306.11	220.91	-673.54	-2.99
EBIT Margin	-201.04%	-134.96%	46.64%	57.01%	-572.00%	-1.88%
Effective Tax Rate	-1.59%	4.12%	12.25%	5.92%	3.37%	-515.33%

Updated May 11, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q