TeraWulf Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2021
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Mar '21 Mar 31, 2021
Revenue	167.6	140.05	69.23	15.03	-	-
Revenue Growth (YoY)	30.58%	102.30%	360.51%	-	-	-
Cost of Revenue	83.39	62.61	27.32	11.08	-	-
Gross Profit	84.21	77.44	41.91	3.95	-	-
Selling, General & Admin	125.54	78.23	41.91	39.34	30.76	10.06
Other Operating Expenses	-0.98	-2.2	-0.13	1.69	-	-
Operating Expenses	192.57	130.74	70.13	47.7	30.76	10.06
Operating Income	-108.36	-53.29	-28.21	-43.75	-30.76	-10.06
Interest Expense	-20.91	-19.79	-34.81	-24.68	-2.46	-
Earnings From Equity Investments	-	3.36	-9.29	-15.71	-1.68	-
Other Non Operating Income (Expenses)	-420.72	3.93	0.23	-	-	-
EBT Excluding Unusual Items	-543.68	-65.8	-72.08	-84.14	-34.9	-10.06
Merger & Restructuring Charges	-1.48	-	-	-	-16.58	-
Gain (Loss) on Sale of Investments	22.6	22.6	-	-	-	-
Gain (Loss) on Sale of Assets	-23.64	-17.82	-1.21	-	-	-
Asset Writedown	-7.45	-5.1	-	-	-	-
Other Unusual Items	-10.4	-6.3	-	-2.05	-	-
Pretax Income	-564.03	-72.42	-73.29	-86.19	-51.48	-10.06
Income Tax Expense	-	-	-	-0.26	-0.67	-
Earnings From Continuing Operations	-564.03	-72.42	-73.29	-85.93	-50.81	-10.06
Earnings From Discontinued Operations	-	-	-0.13	-4.86	-53.57	-
Net Income	-564.03	-72.42	-73.42	-90.79	-104.38	-10.06
Net Income to Common	-564.03	-72.42	-73.42	-90.79	-104.38	-10.06
Shares Outstanding (Basic)	391	351	210	111	85	59
Shares Outstanding (Diluted)	391	351	210	111	85	59
Shares Change (YoY)	24.44%	67.33%	89.77%	29.86%	44.85%	-
EPS (Basic)	-1.44	-0.21	-0.35	-0.82	-1.23	-0.17
EPS (Diluted)	-1.44	-0.21	-0.35	-0.82	-1.23	-0.17
Free Cash Flow	-676.57	-292.36	-70.91	-106.92	-206.43	-142.2
Free Cash Flow Per Share	-1.73	-0.83	-0.34	-0.97	-2.42	-2.42
Gross Margin	50.24%	55.30%	60.54%	26.28%	-	-
Operating Margin	-64.65%	-38.05%	-40.75%	-290.99%	-	-
Profit Margin	-336.53%	-51.71%	-106.06%	-603.95%	-	-
Free Cash Flow Margin	-403.67%	-208.75%	-102.42%	-711.25%	-	-
EBITDA	-35.25	6.52	0.14	-37.08	-	-
EBITDA Margin	-21.03%	4.65%	0.20%	-246.64%	-	-
D&A For EBITDA	73.11	59.81	28.35	6.67	-	-
EBIT	-108.36	-53.29	-28.21	-43.75	-30.76	-10.06
EBIT Margin	-64.65%	-38.05%	-40.75%	-290.99%	-	-

Updated Nov 10, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q