TeraWulf Inc. (WULF)WULFTeraWulf Inc.

Financials

Quarterly Income Statement (USD)

Quarterly Report	TTM	03/31/2026	12/31/2025	09/30/2025	06/30/2025	03/31/2025	12/31/2024	09/30/2024	06/30/2024
Revenue	168.062M	34.012M	35.836M	50.578M	47.636M	34.405M	34.985M	27.059M	35.574M
Cost of Goods Sold	60.471M	2.361M	18.893M	17.123M	22.094M	24.553M	19.622M	14.660M	13.918M
Gross Profit	107.591M	31.651M	16.943M	33.455M	25.542M	9.852M	15.363M	12.399M	21.656M
Gross Profit Margin	93.1%	93.1%	47.3%	66.1%	53.6%	28.6%	43.9%	45.8%	60.9%
Total Operating Expenses	354.717M	168.096M	103.577M	47.343M	35.701M	69.480M	66.787M	28.110M	28.421M
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	225.377M	127.764M	66.649M	16.676M	14.288M	50.144M	32.275M	11.478M	13.588M
Operating Income (EBIT)	-247.126M	-136.445M	-86.634M	-13.888M	-10.159M	-59.628M	-51.424M	-15.711M	-6.765M
Operating Margin	-401.2%	-401.2%	-241.8%	-27.5%	-21.3%	-173.3%	-147.0%	-58.1%	-19.0%
Income Before Tax (EBT)	-1.028B	-427.675M	-126.502M	-455.050M	-18.370M	-61.418M	-51.798M	-20.054M	-11.643M
Interest Income	33.505M	29.411M	—	4.094M	—	2.259M	—	—	—
Interest Expense	143.270M	67.071M	62.357M	9.830M	4.012M	4.049M	3.015M	409K	5.325M
Other Income/Expense	-780.471M	-291.230M	-39.868M	-441.162M	-8.211M	-1.790M	-374K	-4.343M	-4.878M
Net Income	-1.028B	-427.634M	-126.578M	-455.050M	-18.370M	-61.418M	-29.196M	-22.733M	-10.876M
Income Tax Expense	104K	28K	76K	0.00	0.00	0.00	0.00	2.679M	-767K
Net Profit Margin	-1257.3%	-1257.3%	-353.2%	-899.7%	-38.6%	-178.5%	-83.5%	-84.0%	-30.6%
EBITDA	-761.507M	-318.708M	-30.426M	-417.551M	5.178M	-41.110M	-33.221M	-3.750M	8.066M
EBITDA Margin	-937.0%	-937.0%	-84.9%	-825.6%	10.9%	-119.5%	-95.0%	-13.9%	22.7%
Depreciation & Amortization	107.142M	30.348M	29.589M	27.669M	19.536M	16.259M	15.562M	15.895M	14.384M
EPS Basic	-2.51	-1.01	-0.32	-1.13	-0.05	-0.16	-0.07	-0.06	-0.03
EPS Diluted	-2.51	-1.01	-0.32	-1.13	-0.05	-0.16	-0.07	-0.06	-0.03
Shares Outstanding	423.000M	423.000M	397.608M	401.559M	386.895M	383.150M	385.654M	382.087M	340.663M
Diluted Shares Outstanding	423.000M	423.000M	397.608M	401.559M	386.895M	383.150M	385.654M	382.087M	340.663M

Annual Income Statement (USD)

Annual Report	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Revenue	168.455M	140.051M	69.229M	15.033M	0.00	13.432M	17.619M	18.214M
Cost of Goods Sold	82.663M	62.608M	27.315M	11.083M	52K	9.527M	12.221M	11.960M
Gross Profit	85.792M	77.443M	41.914M	3.950M	-52K	3.905M	5.397M	6.254M
Gross Profit Margin	50.9%	55.3%	60.5%	26.3%	—	29.1%	30.6%	34.3%
Total Operating Expenses	256.101M	153.659M	71.335M	47.695M	43.347M	5.326M	6.261M	6.028M
Research & Development	0.00	0.00	0.00	0.00	0.00	671K	777K	677K
Selling, General & Administrative	147.757M	70.578M	41.907M	36.050M	43.347M	4.655M	5.484M	5.351M
Operating Income (EBIT)	-170.309M	-76.216M	-29.421M	-43.745M	-43.399M	-1.421M	-864K	226K
Operating Margin	-101.1%	-54.4%	-42.5%	-291.0%	—	-10.6%	-4.9%	1.2%
Income Before Tax (EBT)	-661.340M	-98.383M	-73.292M	-86.190M	-47.192M	-649K	-986K	185K
Interest Income	—	—	—	—	—	—	—	—
Interest Expense	80.248M	19.794M	34.812M	24.679M	2.255M	2.460M	90K	-91K
Other Income/Expense	-491.031M	-22.167M	-43.871M	-42.445M	-3.793M	772K	-122K	-40K
Net Income	-661.416M	-72.418M	-73.421M	-90.791M	-95.683M	-439K	-814K	139K
Income Tax Expense	76K	-25.965M	0.00	-256K	-615K	-210K	-172K	46K
Net Profit Margin	-392.6%	-51.7%	-106.1%	-603.9%	—	-3.3%	-4.6%	0.8%
EBITDA	-483.909M	-17.408M	161K	-38.829M	-43.347M	135K	-224K	1.071M
EBITDA Margin	-287.3%	-12.4%	0.2%	-258.3%	—	1.0%	-1.3%	5.9%
Depreciation & Amortization	93.053M	61.181M	29.351M	6.970M	52K	698K	672K	795K
EPS Basic	-1.66	-0.21	-0.35	-0.83	-1.12	-0.22	-0.41	0.07
EPS Diluted	-1.66	-0.21	-0.35	-0.83	-1.12	-0.22	-0.41	0.07
Shares Outstanding	397.608M	351.315M	209.956M	110.639M	85.200M	1.976M	1.980M	1.984M
Diluted Shares Outstanding	397.608M	351.315M	209.956M	110.639M	85.200M	1.976M	1.980M	1.984M

Values are displayed in USD. Negative numbers shown in red.

Values are displayed in USD. Negative numbers are shown in red.

About TeraWulf Inc.

TeraWulf Inc., together with its subsidiaries, owns, develops, operates digital infrastructure in the United States. It also develops and operates bitcoin mining facilities for bitcoin mining and high-performance computing workloads, leveraging clean, cost-effective, and reliable energy. The company was founded in 2021 and is headquartered in Easton, Maryland.

Easton, MD

141 employees

www.terawulf.com

Technology / Software - Application

Sector: Technology
Industry: Software - Application
CEO: Paul Prager

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