RIOT
Riot Platforms, Inc.13.47
-0.24-1.75%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
5.01BP/E (TTM)
25.90Basic EPS (TTM)
0.52Dividend Yield
0%Recent Filings
8-K
Riot's Q3 profit surge, data center push
Riot Platforms reported Q3 2025 revenue of $180.2 million, up from $84.8 million last year, fueled by $160.8 million in Bitcoin mining from 1,406 BTC produced at a $46,324 cost excluding depreciation. Net income swung to $104.5 million from a $154.4 million loss, with Adjusted EBITDA at $197.2 million including a $133.1 million Bitcoin gain. Riot kicked off core and shell development for 112 MW at its Corsicana campus after acquiring a 67-acre parcel, positioning it to convert power assets into data centers amid surging demand. Yet execution risks loom in lengthy ERCOT timelines.
10-Q
Q3 FY2025 results
Riot Platforms swung to an operating profit of $80.1 million in Q3 FY2025 ended September 30, 2025, up from a $121.5 million loss a year earlier, fueled by Bitcoin mining revenue that more than doubled to $160.8 million year-over-year on higher bitcoin prices and a 29.4% jump in deployed hash rate to 36.5 EH/s, while engineering revenue rose 51.1% to $19.1 million (derived). Gross margins improved sharply as power curtailment credits hit $30.6 million, offsetting elevated costs from Corsicana Facility expansion, though depreciation climbed 38.2% to $82.9 million. Net income reached $104.5 million, or $0.26 diluted EPS on 403.2 million shares, reconciling to basic $0.30 on 347.1 million shares with anti-dilution from convertibles. Liquidity strengthened with $330.7 million in cash and $839.7 million total debt including $594.4 million 2030 Notes at 0.75%; free cash flow not disclosed in the 10-Q. The Rhodium asset acquisition closed April 2025 for $185.0 million (cash/stock mix), recognizing $7.3 million in equipment but a $158.1 million settlement loss. Yet bitcoin volatility persists as a core risk.
8-K
Riot's Q2 profit surges
Riot Platforms reported Q2 2025 results on July 31, boasting $153.0 million in revenue, up from $70.0 million last year, fueled by $140.9 million from Bitcoin mining after producing 1,426 BTC amid higher prices. Net income hit $219.5 million with $495.3 million adjusted EBITDA, yet mining costs climbed to $48,992 per BTC due to the halving and network hash rate surge. The company eyes data center expansion, hiring a chief officer and acquiring 238 acres at Corsicana. Risks include volatile Bitcoin prices and integration hurdles.
10-Q
Q2 FY2025 results
Riot Platforms posted Q2 revenue of $153M, up 118% y/y, fueled by Bitcoin mining's $141M haul amid higher prices and a 62% hash rate jump to 35.4 EH/s, while engineering added $11M. Yet operating income swung to $216M from a $117M loss, thanks to a $471M bitcoin fair value gain offsetting $158M Rhodium settlement hit; YTD, though, it's a $18M operating loss versus $87M profit, with net loss of $77M versus $127M gain, the delta mainly from $57M equity investment losses and $158M contract loss. Cash dipped to $255M with $353M operating outflow, but $372M financing inflows—mostly ATM equity—bolstered liquidity; debt sits at $839M including $200M bitcoin-backed facility, revolver availability slim at $1M. The April Rhodium deal closed for $185M (cash/stock mix), nixing legacy hosting but adding miners without goodwill. Bitcoin volatility remains a key risk, per Risk Factors.
8-K
Riot's annual meeting outcomes
Riot Platforms' stockholders convened on June 10, 2025, electing Jaime Leverton and Douglas Mouton as Class I directors through 2028, while ratifying Deloitte & Touche as auditors for 2025. Yet executive pay drew sharp rebuke, with 88.5 million against versus 40.8 million for. The board will now face annual say-on-pay votes, following a strong 103.8 million yes on frequency. Declassification passed handily at 103.8 million for, easing director entrenchment.
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