NASDAQ : CIFR
Cipher Digital Inc. — Financial statements
Technology · Information Technology Services · United States
Last price 7.29 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 3.03B
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Financial statements
Cipher Digital Inc. (CIFR) reported revenue of 191.09M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 191.09M | 223.94M | 151.27M | 126.84M | 3.04M | |
| Cost of Revenue | 210.27M | 160.34M | 123.16M | 107.71M | 748.00K | |
| Gross Profit | -19.18M | 63.60M | 28.11M | 19.13M | 2.29M | |
| Selling, General & Admin | 46.57M | 36.38M | 32.66M | 27.80M | 70.84M | 78.71M |
| Other Operating Expenses | -161.24M | -208.69M | -66.19M | -11.04M | 1.46M | |
| Operating Expenses | 35.14M | 26.66M | 68.91M | 75.85M | 76.67M | 78.71M |
| Operating Income | -54.31M | 36.94M | -40.80M | -56.72M | -74.39M | -78.71M |
| Interest Expense | -160.54M | -36.56M | -1.71M | -2.00M | -137.00K | -29.45K |
| Interest & Investment Income | 86.44M | 19.48M | 3.38M | 164.00K | 215.00K | 4.36K |
| Earnings From Equity Investments | -15.43M | -20.82M | -384.00K | -2.53M | -36.97M | |
| Other Non Operating Income (Expenses) | -562.40M | -407.90M | -4.81M | 36.52M | 74.07M | 135.27K |
| EBT Excluding Unusual Items | -706.25M | -408.87M | -44.32M | -24.57M | -37.21M | -78.60M |
| Merger & Restructuring Charges | -111.27K | |||||
| Other Unusual Items | -416.69M | -416.69M | 2.35M | |||
| Pretax Income | -1.12B | -825.56M | -44.32M | -22.21M | -37.21M | -78.71M |
| Income Tax Expense | -3.60M | -3.31M | 318.00K | 3.57M | 1.84M | |
| Net Income | -1.12B | -822.24M | -44.63M | -25.78M | -39.05M | -78.71M |
| Net Income to Common | -1.12B | -822.24M | -44.63M | -25.78M | -39.05M | -78.71M |
| Shares Outstanding (Basic) | 401.32M | 381.60M | 323.10M | 252.44M | 248.23M | 218.03M |
| Shares Outstanding (Diluted) | 401.32M | 381.60M | 323.10M | 252.44M | 248.23M | 218.03M |
| EPS (Basic) | -2.79 | -2.15 | -0.14 | -0.10 | -0.16 | -0.36 |
| EPS (Diluted) | -2.79 | -2.15 | -0.14 | -0.10 | -0.16 | -0.36 |
| Free Cash Flow | -1.50B | -700.73M | -389.96M | -148.63M | -248.24M | -165.42M |
| Free Cash Flow Per Share | -3.73 | -1.84 | -1.21 | -0.59 | -1.00 | -0.76 |
| Gross Margin | -10.04% | 28.40% | 18.58% | 15.09% | 75.37% | |
| Operating Margin | -28.42% | 16.49% | -26.97% | -44.71% | -2,449.32% | |
| Profit Margin | -585.75% | -367.17% | -29.51% | -20.32% | -1,285.91% | |
| Free Cash Flow Margin | -782.50% | -312.91% | -257.79% | -117.18% | -8,173.76% | |
| EBITDA | 96.08M | 236.51M | 62.15M | 2.38M | -70.01M | -78.71M |
| EBITDA Margin | 50.28% | 105.61% | 41.09% | 1.87% | ||
| D&A For EBITDA | 150.40M | 199.57M | 102.95M | 59.09M | 4.38M | 5.46K |
| EBIT | -54.31M | 36.94M | -40.80M | -56.72M | -74.39M | -78.71M |
| EBIT Margin | -28.42% | 16.49% | -26.97% | -44.71% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 831.83M | 628.26M | 5.58M | 86.11M | 11.93M | 209.84M |
| Cash & Short-Term Investments | 831.83M | 628.26M | 5.58M | 86.11M | 11.93M | 209.84M |
| Accounts Receivable | 20.08M | 687.00K | 596.00K | 622.00K | 98.00K | |
| Other Receivables | 271.00K | 2.09M | 245.00K | |||
| Receivables | 20.08M | 958.00K | 2.69M | 867.00K | 98.00K | |
| Prepaid Expenses | 34.48M | 7.98M | 3.39M | 3.67M | 6.05M | 13.82M |
| Restricted Cash | 3.19B | 1.76B | ||||
| Other Current Assets | 57.24M | 254.37M | 156.55M | 64.86M | 29.66M | |
| Total Current Assets | 4.13B | 2.65B | 168.21M | 155.50M | 47.73M | 223.66M |
| Property, Plant & Equipment | 2.11B | 633.78M | 493.43M | 250.89M | 196.28M | 5.12M |
| Long-Term Investments | 29.40M | 53.91M | 35.26M | 37.48M | ||
| Other Intangible Assets | 76.93M | 77.39M | 8.88M | 8.11M | 596.00K | |
| Long-Term Deferred Charges | 174.00K | |||||
| Other Long-Term Assets | 1.18B | 898.49M | 131.03M | 116.38M | 136.38M | 125.21M |
| Total Assets | 7.50B | 4.29B | 855.45M | 566.14M | 418.46M | 354.17M |
| Accounts Payable | 289.09M | 40.06M | 22.70M | 6.53M | 15.87M | 242.00K |
| Accrued Expenses | 80.07M | 29.36M | 14.02M | 5.94M | 253.00K | |
| Short-Term Debt | 32.33M | |||||
| Current Portion of Long-Term Debt | 94.48M | 37.79M | ||||
| Current Portion of Leases | 6.72M | 5.97M | 6.92M | 4.57M | 3.94M | |
| Current Income Taxes Payable | 4.89M | 9.31M | 14.61M | 15.18M | 18.80M | |
| Other Current Liabilities | 903.84M | 576.58M | 41.19M | 1.57M | 1.72M | 4.00K |
| Total Current Liabilities | 1.38B | 699.07M | 131.78M | 33.79M | 40.33M | 499.00K |
| Long-Term Debt | 5.45B | 2.71B | ||||
| Long-Term Leases | 38.73M | 11.64M | 17.16M | 17.41M | 16.72M | |
| Long-Term Deferred Tax Liabilities | 4.27M | 5.21M | 1.84M | |||
| Other Long-Term Liabilities | 23.51M | 33.70M | 20.28M | 18.39M | 16.68M | 137.00K |
| Total Liabilities | 6.91B | 3.46B | 173.49M | 74.80M | 75.57M | 636.00K |
| Common Stock | 424.00K | 412.00K | 361.00K | 296.00K | 251.00K | 252.00K |
| Additional Paid-In Capital | 1.95B | 1.81B | 863.01M | 627.82M | 453.85M | 425.44M |
| Retained Earnings | -1.39B | -1.00B | -181.41M | -136.78M | -111.21M | -72.16M |
| Treasury Stock | -9.00K | -7.00K | -11.00K | -5.00K | -4.00K | -3.00K |
| Total Common Equity | 562.06M | 805.53M | 681.95M | 491.34M | 342.89M | 353.53M |
| Minority Interest | 25.68M | 30.32M | ||||
| Shareholders' Equity | 587.74M | 835.85M | 681.95M | 491.34M | 342.89M | 353.53M |
| Total Liabilities & Equity | 7.50B | 4.29B | 855.45M | 566.14M | 418.46M | 354.17M |
| Total Debt | 5.59B | 2.77B | 56.42M | 21.98M | 20.66M | |
| Net Cash (Debt) | -4.75B | -2.14B | -50.83M | 64.13M | -8.73M | 209.84M |
| Net Cash Per Share | -11.85 | -5.60 | -0.16 | 0.25 | -0.04 | 0.96 |
| Filing Date Shares Outstanding | 415.03M | 405.12M | 361.53M | 296.49M | 248.63M | 250.17M |
| Total Common Shares Outstanding | 414.25M | 404.96M | 350.78M | 290.96M | 247.55M | 249.28M |
| Working Capital | 2.75B | 1.95B | 36.43M | 121.70M | 7.41M | 223.16M |
| Book Value Per Share | 1.36 | 1.99 | 1.94 | 1.69 | 1.39 | 1.42 |
| Tangible Book Value | 485.13M | 728.15M | 673.07M | 483.23M | 342.30M | 353.53M |
| Tangible Book Value Per Share | 1.17 | 1.80 | 1.92 | 1.66 | 1.38 | 1.42 |
| Land | 163.88M | 79.05M | 49.02M | |||
| Buildings | 68.71M | 66.59M | ||||
| Machinery | 230.00K | 60.00K | ||||
| Construction In Progress | 1.68B | 276.47M | 82.02M | 49.00K | 20.44M | 5.07M |
| Leasehold Improvements | 120.03M | 134.12M | 137.58M | 138.88M | 94.81M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -1.12B | -822.24M | -44.63M | -25.78M | -39.05M | -78.71M |
| Depreciation & Amortization | 152.13M | 201.22M | 104.20M | 59.91M | 5.15M | 5.46K |
| Other Amortization | 143.83M | 17.93M | ||||
| Loss (Gain) From Sale of Assets | 41.20M | 31.43M | 290.00K | |||
| Asset Writedown & Restructuring Costs | 45.32M | 45.32M | ||||
| Loss (Gain) on Equity Investments | 15.43M | 20.82M | 384.00K | 2.53M | 36.97M | |
| Stock-Based Compensation | 90.74M | 52.79M | 42.13M | 38.47M | 41.50M | 69.56M |
| Other Operating Activities | 523.27M | 312.85M | -208.22M | -158.64M | -73.11M | -24.00K |
| Change in Accounts Receivable | -98.00K | |||||
| Change in Accounts Payable | 2.42M | 242.18K | ||||
| Change in Other Net Operating Assets | -173.39M | -68.05M | 18.34M | -10.73M | 5.30M | -25.62M |
| Operating Cash Flow | -256.49M | -207.94M | -87.51M | -94.24M | -20.91M | -34.54M |
| Capital Expenditures | -1.24B | -492.80M | -302.45M | -54.39M | -227.32M | -130.87M |
| Sale (Purchase) of Intangibles | -707.00K | -1.44M | -1.42M | -634.00K | -596.00K | |
| Investment in Securities | -13.66M | -22.13M | -37.12M | 263.00K | 54.01M | |
| Other Investing Activities | 177.19M | 179.75M | 148.87M | 107.51M | -189.82K | |
| Investing Cash Flow | -1.02B | -336.61M | -192.13M | 52.76M | -173.91M | -131.06M |
| Long-Term Debt Issued | 3.15B | 25.00M | ||||
| Total Debt Issued | 5.75B | 3.15B | 25.00M | 7.68M | ||
| Long-Term Debt Repaid | -29.83M | -5.54M | -12.88M | |||
| Total Debt Repaid | -4.83M | -29.83M | -5.54M | -12.88M | -7.68M | |
| Net Debt Issued (Repaid) | 5.74B | 3.12B | 19.46M | -12.88M | ||
| Issuance of Common Stock | 239.00M | 245.47M | 221.69M | 132.44M | ||
| Repurchase of Common Stock | -134.27M | -89.58M | -27.64M | -3.90M | -3.09M | -25.36M |
| Other Financing Activities | -82.68M | -82.68M | 419.88M | |||
| Financing Cash Flow | 5.76B | 3.19B | 213.51M | 115.66M | -3.09M | 394.52M |
| Net Cash Flow | 4.48B | 2.64B | -66.13M | 74.18M | -197.91M | 228.92M |
| Free Cash Flow | -1.50B | -700.73M | -389.96M | -148.63M | -248.24M | -165.42M |
| Free Cash Flow Margin | -782.50% | -312.91% | -257.79% | -117.18% | -8,173.76% | |
| Free Cash Flow Per Share | -3.73 | -1.84 | -1.21 | -0.59 | -1.00 | -0.76 |
| Levered Free Cash Flow | -2.90B | -1.52B | -214.04M | -34.08M | -213.94M | |
| Unlevered Free Cash Flow | -2.94B | -1.52B | -212.97M | -32.84M | -213.85M | |
| Cash Interest Paid | 1.45M | 1.45M | 29.45K | |||
| Change in Working Capital | -173.39M | -68.05M | 18.34M | -10.73M | 7.62M | -25.38M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 3.03B | 5.83B | 1.61B | 1.06B | 138.63M | 1.14B |
| Enterprise Value | 7.78B | 5.67B | 1.61B | 1.08B | 116.28M | 858.47M |
| Last Close Price | 7.29 | 14.76 | 4.64 | 4.13 | 0.56 | 4.63 |
| Forward PE | 19.27 | 63.27 | 10.83 | 258.12 | ||
| PS Ratio | 15.83 | 26.04 | 10.67 | 8.37 | 45.65 | |
| PB Ratio | 5.37 | 6.98 | 2.37 | 2.16 | 0.40 | 3.23 |
| P/TBV Ratio | 6.24 | 8.01 | 2.40 | 2.20 | 0.41 | 3.23 |
| EV/Sales Ratio | 40.72 | 25.31 | 10.65 | 8.54 | 38.29 | |
| EV/EBITDA Ratio | 80.98 | 23.97 | 25.93 | 456.05 | ||
| EV/EBIT Ratio | 153.45 | |||||
| Debt / Equity Ratio | 9.51 | 3.31 | 0.08 | 0.04 | 0.06 | |
| Debt / EBITDA Ratio | 55.93 | 11.57 | 0.88 | 5.07 | ||
| Net Debt / Equity Ratio | 8.09 | 2.56 | 0.07 | -0.13 | 0.03 | -0.59 |
| Net Debt / EBITDA Ratio | 49.49 | 9.04 | 0.82 | -26.99 | -0.12 | 2.67 |
| Net Debt / FCF Ratio | -3.18 | -3.05 | -0.13 | 0.43 | -0.04 | 1.27 |
| Asset Turnover | 0.04 | 0.09 | 0.21 | 0.26 | 0.01 | |
| Quick Ratio | 0.62 | 0.90 | 0.06 | 2.57 | 0.30 | 420.52 |
| Current Ratio | 3.00 | 3.79 | 1.28 | 4.60 | 1.18 | 448.22 |
| Return on Equity (ROE) | -167.48% | -108.35% | -7.61% | -6.18% | -11.21% | |
| Return on Assets (ROA) | -0.80% | 0.90% | -3.59% | -7.20% | -12.03% | |
| Return on Capital Employed (ROCE) | -0.90% | 1.00% | -5.60% | -10.70% | -19.70% | -22.30% |
| Earnings Yield | -38.26% | -14.10% | -2.77% | -2.43% | -28.17% | -6.90% |
| FCF Yield | -49.42% | -12.02% | -24.16% | -14.00% | -179.07% | -14.50% |
| Buyback Yield / Dilution | -13.28% | -18.11% | -27.99% | -1.70% | -13.85% |