TERAWULF INC.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $168.5M | $140.1M | $69.2M | $15.0M | $13.4M | $17.6M | $18.2M | $17.2M |
| Cost of Revenue | $82.7M | $62.6M | $27.3M | $11.1M | $9.5M | $12.2M | $12.0M | $11.5M |
| Gross Profit | $66.0M | $69.8M | $37.0M | $4.0M | $3.9M | $5.4M | $6.3M | $5.7M |
| Gross Margin | 39.2% | 49.8% | 53.5% | 26.3% | 29.1% | 30.6% | 34.3% | 33.2% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | $671.5K | $870.3K | $677.2K | $688.7K |
| SG&A Expense | — | — | — | $22.8M | $5.0M | $5.5M | $5.4M | $5.5M |
| Operating Income | $-186.2M | $-76.2M | $-29.4M | $-43.7M | $-1.8M | $-956.7K | $225.8K | $-464.6K |
| Operating Margin | -110.5% | -54.4% | -42.5% | -291.0% | -13.3% | -5.4% | 1.2% | -2.7% |
| Interest Expense | — | — | $34.8M | $24.7M | $86.6K | $90.1K | $90.6K | $83.1K |
| Pretax Income | $-661.3M | $-72.4M | $-73.4M | $-86.2M | $-649.3K | $-985.6K | $185.5K | $-524.1K |
| Income Tax Expense | $76.0K | $0 | $0 | $-256.0K | $-210.0K | $-172.0K | $46.0K | $-298.0K |
| Net Income | $-661.4M | $-72.4M | $-73.4M | $-90.8M | $-439.3K | $-813.6K | $139.5K | $-226.1K |
| Net Margin | -392.6% | -51.7% | -106.1% | -603.9% | -3.3% | -4.6% | 0.8% | -1.3% |
| EPS (Basic) | $-1.66 | $-0.21 | $-0.35 | $-0.82 | $-0.01 | $-0.01 | $0.00 | $0.00 |
| EPS (Diluted) | $-1.66 | $-0.21 | $-0.35 | $-0.82 | $-0.01 | $-0.01 | $0.00 | $0.00 |
| Shares Outstanding (Basic) | 397.6M | 351.3M | 210.0M | 110.6M | 85.0M | 85.2M | 85.3M | 86.3M |
| Shares Outstanding (Diluted) | 397.6M | 351.3M | 210.0M | 110.6M | 85.0M | 85.2M | 85.3M | 86.3M |
| Dividends Per Share | $0.00 | $0.00 | $0.00 | $0.00 | — | — | — | — |