TeraWulf Inc.
NASDAQ:WULF · NASDAQ Capital Market
-$0.15 today
Vol 29.23M · Avg 29.97M
Income Statement
Follow revenue through to earnings
Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Stock Ticker Earnings Waterfall
NASDAQ:WULF · Revenue to Net Income
Key Ratios
Analysis
$168.1M of revenue converted into -$1.0B of net income for the selected period. Gross margin is 1.8% and net margin is -637.2%, showing how much revenue survives after costs and taxes. EPS is $-2.51, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $168.5M +20.3% | $140.1M +102.3% | $69.2M +360.5% | $15.0M | $0 | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $171.3M +173.5% | $62.6M +129.2% | $27.3M +146.5% | $11.1M +21213.5% | $52.0K | $725.6M | $804.0M | $882.4M |
| Gross Profit | -$2.8M -103.6% | $77.4M +84.8% | $41.9M +961.1% | $4.0M +7696.2% | -$52.0K | $8.9B | $7.6B | $6.2B |
| Gross Margin | -1.7% -57.0pp | 55.3% -5.2pp | 60.5% +34.3pp | 26.3% | — | 9.8% | 28.9% | 38.3% |
| Research & Development | $0 | $0 | $0 | $0 | $0 | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $166.0M +135.2% | $70.6M +68.4% | $41.9M +16.2% | $36.0M -16.8% | $43.3M | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $166.0M +8.0% | $153.7M +115.4% | $71.3M +49.6% | $47.7M +10.0% | $43.3M | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $93.1M +52.1% | $61.2M +108.4% | $29.4M +321.1% | $7.0M +13303.8% | $52.0K | $374.2M | $1.2B | $631.8M |
| EBITDA | -$75.8M -335.2% | -$17.4M -10912.4% | $161.0K +100.4% | -$38.8M +10.4% | -$43.3M | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | -45.0% -32.5pp | -12.4% -12.7pp | 0.2% +258.5pp | -258.3% | — | 5.6% | 46.3% | 42.0% |
| Operating Income | -$168.8M -121.5% | -$76.2M -159.1% | -$29.4M +32.7% | -$43.7M -0.8% | -$43.4M | $12.3B | $14.0B | -$15.7B |
| Operating Margin | -100.2% -45.8pp | -54.4% -11.9pp | -42.5% +248.5pp | -291.0% | — | 16.6% | 24.1% | 22.0% |
| Interest Income | $0 | $0 | $0 | $0 | $0 | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $80.2M +305.4% | $19.8M -43.1% | $34.8M +41.1% | $24.7M +994.4% | $2.3M | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | -$492.5M -2121.9% | -$22.2M +49.5% | -$43.9M -3.4% | -$42.4M -1019.0% | -$3.8M | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | -$661.3M -572.2% | -$98.4M -34.2% | -$73.3M +15.0% | -$86.2M -82.6% | -$47.2M | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | -392.6% -322.3pp | -70.2% +35.6pp | -105.9% +467.5pp | -573.3% | — | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $76.0K +100.3% | -$26.0M | $0 +100.0% | -$256.0K +58.4% | -$615.0K | $1.3B | -$1.6B | $745.2M |
| Net Income | -$661.4M -813.3% | -$72.4M +1.4% | -$73.4M +19.1% | -$90.8M +5.1% | -$95.7M | $4.9B | $4.8B | $4.7B |
| Net Margin | -392.6% -340.9pp | -51.7% +54.3pp | -106.1% +497.9pp | -603.9% | — | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | -$2 -690.5% | -$0 +40.0% | -$0 +57.8% | -$1 +25.9% | -$1 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | -$2 -690.5% | -$0 +40.0% | -$0 +57.8% | -$1 +25.9% | -$1 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $397.6M +13.2% | $351.3M +67.3% | $210.0M +89.8% | $110.6M +29.9% | $85.2M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $397.6M +13.2% | $351.3M +67.3% | $210.0M +89.8% | $110.6M +29.9% | $85.2M | $1.2B | $924.4M | $678.0M |
Older periods hidden.
Sign in to unlockCompetitors
Peer companies in the same sector
Raymond James Financial, Inc.
NYSE:RJF
$30.94B
Hut 8 Corp.
NASDAQ:HUT
$13.39B
Cipher Mining Inc.
NASDAQ:CIFR
$10.78B
StoneX Group Inc.
NASDAQ:SNEX
$10.51B
Riot Platforms, Inc.
NASDAQ:RIOT
$10.37B
Piper Sandler Companies
NYSE:PIPR
$5.46B
Virtu Financial, Inc.
NYSE:VIRT
$5.18B
Moelis & Company
NYSE:MC
$4.93B
MarketAxess Holdings Inc.
NASDAQ:MKTX
$4.26B
PennyMac Financial Services, Inc.
NYSE:PFSI
$4.22B
SEC Filings
Recent regulatory filings
No filings found.
How much revenue does WULF generate?
TeraWulf Inc. (WULF) reported $168.46M of revenue in fiscal 2025.
Is WULF profitable?
TeraWulf Inc. (WULF) reported -$661,416,000.00 of net income, with a net margin of -392.6%.
Explore More
Continue the stock analysis
Jump to another research area for this company.