NASDAQ : RIOT
Riot Platforms, Inc. — Financial statements
Financials · Capital Markets · United States
Last price 12.81 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 4.81B
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Financial statements
Riot Platforms, Inc. (RIOT) reported revenue of 674.51M 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 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 674.17M | 640.96M | 359.49M | 253.30M | 222.21M | 213.15M |
| Other Revenue | 340.00K | 6.47M | 17.16M | 27.38M | 36.96M | 97.00K |
| Revenue | 674.51M | 647.43M | 376.66M | 280.68M | 259.17M | 213.24M |
| Cost of Revenue | 483.92M | 401.88M | 262.75M | 254.33M | 193.70M | 82.09M |
| Gross Profit | 190.60M | 245.56M | 113.90M | 26.34M | 65.47M | 131.15M |
| Selling, General & Admin | 309.61M | 298.78M | 266.92M | 100.35M | 67.45M | 87.43M |
| Other Operating Expenses | 779.93M | 115.88M | -457.41M | -184.73M | 117.02M | 43.97M |
| Operating Expenses | 1.47B | 761.47M | 21.56M | 167.97M | 292.42M | 157.73M |
| Operating Income | -1.28B | -515.91M | 92.34M | -141.62M | -226.95M | -26.58M |
| Interest Expense | -21.05M | -24.14M | -1.99M | -2.85M | -1.31M | -296.00K |
| Interest & Investment Income | 13.19M | 13.98M | 27.17M | 11.08M | 1.76M | |
| Other Non Operating Income (Expenses) | -263.00K | 58.23M | 79.83M | 78.20M | 98.70M | 21.26M |
| EBT Excluding Unusual Items | -1.29B | -467.84M | 197.35M | -55.20M | -127.79M | -5.62M |
| Merger & Restructuring Charges | -187.00K | -5.54M | -78.00K | -21.20M | ||
| Impairment of Goodwill | -335.65M | |||||
| Gain (Loss) on Sale of Investments | 23.15M | -33.95M | -69.49M | -9.00M | 12.61M | |
| Gain (Loss) on Sale of Assets | 2.75M | 2.27M | -17.43M | -5.34M | 16.28M | |
| Asset Writedown | -57.71M | -29.74M | -55.54M | |||
| Legal Settlements | -20.00M | -20.00M | ||||
| Other Unusual Items | 15.39M | -114.06M | 2.46M | -9.53M | -975.00K | |
| Pretax Income | -1.32B | -663.33M | 110.14M | -54.56M | -521.30M | -15.18M |
| Income Tax Expense | -721.00K | -150.00K | 744.00K | -5.09M | -11.75M | 254.00K |
| Earnings From Continuing Operations | -1.32B | -663.18M | 109.40M | -49.47M | -509.55M | -15.44M |
| Net Income to Company | -1.32B | -663.18M | 109.40M | -49.47M | -509.55M | -15.44M |
| Net Income | -1.32B | -663.18M | 109.40M | -49.47M | -509.55M | -15.44M |
| Net Income to Common | -1.32B | -663.18M | 109.40M | -49.47M | -509.55M | -15.44M |
| Shares Outstanding (Basic) | 348.09M | 340.72M | 275.98M | 175.03M | 139.43M | 93.45M |
| Shares Outstanding (Diluted) | 348.09M | 340.72M | 318.93M | 175.03M | 139.43M | 93.45M |
| EPS (Basic) | -3.80 | -1.95 | 0.40 | -0.28 | -3.65 | -0.17 |
| EPS (Diluted) | -3.81 | -1.95 | 0.34 | -0.28 | -3.65 | -0.17 |
| Free Cash Flow | -945.24M | -995.15M | -937.87M | -391.02M | -342.81M | -508.03M |
| Free Cash Flow Per Share | -2.71 | -2.92 | -2.94 | -2.23 | -2.46 | -5.44 |
| Gross Margin | 28.26% | 37.93% | 30.24% | 9.39% | 25.26% | 61.50% |
| Operating Margin | -189.79% | -79.68% | 24.52% | -50.46% | -87.57% | -12.46% |
| Profit Margin | -196.28% | -102.43% | 29.04% | -17.63% | -196.61% | -7.24% |
| Free Cash Flow Margin | -140.14% | -153.71% | -249.00% | -139.31% | -132.27% | -238.24% |
| EBITDA | -898.94M | -169.10M | 304.40M | 110.73M | -119.00M | -252.00K |
| EBITDA Margin | -133.27% | -26.12% | 80.81% | 39.45% | -45.91% | -0.12% |
| D&A For EBITDA | 381.21M | 346.81M | 212.05M | 252.35M | 107.95M | 26.32M |
| EBIT | -1.28B | -515.91M | 92.34M | -141.62M | -226.95M | -26.58M |
| EBIT Margin | -189.79% | -79.68% | 24.52% | -50.46% | -87.57% | -12.46% |
| Effective Tax Rate | 0.68% | |||||
| Revenue as Reported | 674.51M | 647.43M | 376.66M | 280.68M | 259.17M | 213.24M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 471.38M | 233.52M | 277.86M | 597.17M | 230.33M | 312.31M |
| Short-Term Investments | 134.26M | 10.80M | ||||
| Cash & Short-Term Investments | 471.38M | 233.52M | 412.12M | 597.17M | 230.33M | 323.12M |
| Receivables | 62.38M | 38.10M | 33.60M | 40.06M | 46.67M | 25.26M |
| Prepaid Expenses | 94.71M | 57.75M | 40.29M | 29.11M | 32.66M | 7.13M |
| Restricted Cash | 77.48M | 76.27M | 73.44M | |||
| Other Current Assets | 19.77M | 43.08M | 40.02M | 342.23M | 133.72M | 209.07M |
| Total Current Assets | 725.73M | 448.71M | 599.48M | 1.01B | 443.38M | 564.59M |
| Property, Plant & Equipment | 1.59B | 1.56B | 1.37B | 724.61M | 714.23M | 289.67M |
| Long-Term Investments | 5.34M | 4.71M | ||||
| Goodwill | 122.50M | 122.50M | 121.89M | 335.56M | ||
| Other Intangible Assets | 28.30M | 30.19M | 34.05M | 15.70M | 21.48M | 14.16M |
| Other Long-Term Assets | 793.91M | 1.78B | 1.81B | 297.50M | 140.88M | 318.01M |
| Total Assets | 3.26B | 3.94B | 3.94B | 2.05B | 1.32B | 1.52B |
| Accounts Payable | 18.13M | 23.42M | 17.61M | 23.16M | 18.45M | 20.04M |
| Accrued Expenses | 65.43M | 71.56M | 69.88M | 38.92M | 48.84M | 9.96M |
| Short-Term Debt | 200.00M | |||||
| Current Portion of Long-Term Debt | 254.62M | 53.89M | 314.00K | 257.00K | ||
| Current Portion of Leases | 10.14M | 6.31M | 4.62M | 2.42M | 2.01M | 1.18M |
| Current Unearned Revenue | 65.64M | 37.12M | 12.54M | 6.53M | 11.33M | 8.11M |
| Other Current Liabilities | 43.79M | 77.47M | 55.42M | 49.73M | 40.92M | 70.59M |
| Total Current Liabilities | 457.75M | 469.77M | 160.38M | 121.02M | 121.54M | 109.88M |
| Long-Term Debt | 588.41M | 586.91M | 584.31M | 526.00K | ||
| Long-Term Leases | 24.62M | 19.65M | 23.91M | 18.92M | 20.24M | 12.26M |
| Long-Term Unearned Revenue | 13.59M | 15.80M | 17.87M | 19.80M | ||
| Other Long-Term Liabilities | 165.00K | 2.03M | 9.42M | 6.79M | 8.87M | 31.69M |
| Total Liabilities | 1.07B | 1.08B | 791.62M | 163.06M | 168.52M | 173.62M |
| Common Stock | 4.28B | 4.21B | 3.83B | 2.69B | 1.91B | 1.60B |
| Retained Earnings | -2.09B | -1.35B | -690.42M | -799.82M | -756.34M | -246.79M |
| Comprehensive Income & Other | 222.00K | 150.00K | ||||
| Total Common Equity | 2.19B | 2.86B | 3.14B | 1.89B | 1.15B | 1.35B |
| Shareholders' Equity | 2.19B | 2.86B | 3.14B | 1.89B | 1.15B | 1.35B |
| Total Liabilities & Equity | 3.26B | 3.94B | 3.94B | 2.05B | 1.32B | 1.52B |
| Total Debt | 877.79M | 866.76M | 613.16M | 22.13M | 22.25M | 13.44M |
| Net Cash (Debt) | -406.41M | -633.24M | -201.04M | 575.04M | 208.08M | 309.68M |
| Net Cash Per Share | -1.17 | -1.86 | -0.63 | 3.29 | 1.49 | 3.31 |
| Filing Date Shares Outstanding | 375.26M | 379.13M | 350.21M | 253.54M | 166.98M | 117.27M |
| Total Common Shares Outstanding | 378.02M | 371.58M | 344.89M | 230.84M | 167.75M | 116.75M |
| Working Capital | 267.98M | -21.07M | 439.09M | 887.56M | 321.84M | 454.71M |
| Book Value Per Share | 5.80 | 7.69 | 9.12 | 8.18 | 6.86 | 11.55 |
| Tangible Book Value | 2.04B | 2.71B | 2.99B | 1.87B | 1.13B | 998.63M |
| Tangible Book Value Per Share | 5.40 | 7.28 | 8.66 | 8.11 | 6.74 | 8.55 |
| Land | 160.33M | 160.33M | 10.90M | 10.32M | 10.16M | |
| Buildings | 879.32M | 803.03M | 715.86M | 348.87M | 229.69M | 88.81M |
| Machinery | 74.69M | 59.08M | 47.46M | 41.25M | 36.33M | 16.62M |
| Construction In Progress | 188.66M | 165.62M | 82.97M | 166.97M | 97.23M | 113.60M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -1.32B | -663.18M | 109.40M | -49.47M | -509.55M | -15.44M |
| Depreciation & Amortization | 381.21M | 346.81M | 212.05M | 252.35M | 107.95M | 26.32M |
| Other Amortization | 4.65M | 4.29M | 250.00K | |||
| Loss (Gain) From Sale of Assets | -2.75M | -2.27M | 17.43M | 5.34M | -16.28M | |
| Asset Writedown & Restructuring Costs | 57.71M | 29.74M | 391.19M | |||
| Loss (Gain) From Sale of Investments | -28.90M | 28.19M | 69.49M | 9.00M | -12.61M | |
| Stock-Based Compensation | 140.76M | 125.71M | 127.12M | 32.17M | 24.55M | 69.65M |
| Other Operating Activities | 355.91M | -435.82M | -812.51M | -205.34M | -21.88M | -151.11M |
| Change in Other Net Operating Assets | -77.00M | -6.41M | 21.72M | -1.96M | 15.55M | -2.90M |
| Operating Cash Flow | -492.33M | -572.93M | -255.05M | 33.09M | 530.00K | -86.08M |
| Capital Expenditures | -452.91M | -422.23M | -682.81M | -424.10M | -343.33M | -421.95M |
| Sale of Property, Plant & Equipment | 6.83M | 6.83M | 14.32M | 6.37M | ||
| Cash Acquisitions | -58.06M | -70.45M | ||||
| Sale (Purchase) of Intangibles | -34.00K | -9.53M | -30.00K | |||
| Sale (Purchase) of Real Estate | -148.38M | -148.38M | ||||
| Investment in Securities | 91.41M | 106.07M | -203.75M | -4.50M | 1.81M | 1.80M |
| Other Investing Activities | 1.13B | 533.83M | -578.49M | 7.50M | -3.81M | |
| Investing Cash Flow | 630.90M | 76.13M | -1.51B | -414.77M | -354.86M | -490.62M |
| Short-Term Debt Issued | 200.00M | |||||
| Long-Term Debt Issued | 61.00M | 594.38M | 6.92M | |||
| Total Debt Issued | 261.00M | 594.38M | 6.92M | |||
| Long-Term Debt Repaid | -6.73M | -6.22M | -6.06M | |||
| Total Debt Repaid | -6.73M | -6.22M | -6.06M | |||
| Net Debt Issued (Repaid) | 254.27M | 588.16M | 861.00K | |||
| Issuance of Common Stock | 88.83M | 212.74M | 977.03M | 778.43M | 304.85M | 685.62M |
| Repurchase of Common Stock | -6.22M | -4.29M | -11.56M | -14.04M | -10.14M | -5.08M |
| Other Financing Activities | -2.56M | -7.43M | -35.64M | -16.73M | -22.36M | -14.90M |
| Financing Cash Flow | 80.05M | 455.29M | 1.52B | 748.52M | 272.35M | 665.64M |
| Net Cash Flow | 218.62M | -41.51M | -245.87M | 366.84M | -81.99M | 88.93M |
| Free Cash Flow | -945.24M | -995.15M | -937.87M | -391.02M | -342.81M | -508.03M |
| Free Cash Flow Margin | -140.14% | -153.71% | -249.00% | -139.31% | -132.27% | -238.24% |
| Free Cash Flow Per Share | -2.71 | -2.92 | -2.94 | -2.23 | -2.46 | -5.44 |
| Levered Free Cash Flow | -718.86M | -256.66M | -25.76M | -429.45M | -323.76M | -465.09M |
| Unlevered Free Cash Flow | -710.35M | -245.86M | -24.77M | -427.67M | -322.94M | -464.90M |
| Cash Interest Paid | 17.15M | 15.45M | 45.00K | 84.00K | ||
| Cash Income Tax Paid | 225.00K | 1.04M | 107.00K | 680.00K | ||
| Change in Working Capital | -77.00M | -6.41M | 21.72M | -1.96M | 15.55M | -2.90M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.38B | 4.71B | 3.39B | 3.19B | 567.14M | 2.60B |
| Enterprise Value | 4.79B | 5.25B | 2.88B | 2.93B | 332.20M | 2.54B |
| Last Close Price | 12.81 | 12.67 | 10.21 | 15.47 | 3.39 | 22.33 |
| PE Ratio | 31.02 | |||||
| Forward PE | 27.21 | 27.21 | 27.21 | 27.21 | 12.58 | |
| PS Ratio | 7.13 | 7.28 | 9.01 | 11.38 | 2.19 | 12.21 |
| PB Ratio | 2.21 | 1.65 | 1.08 | 1.69 | 0.49 | 1.93 |
| P/TBV Ratio | 2.35 | 1.74 | 1.14 | 1.71 | 0.50 | 2.61 |
| P/OCF Ratio | 96.56 | 1,070.07 | ||||
| PEG Ratio | 0.12 | 0.12 | 0.12 | 0.12 | ||
| EV/Sales Ratio | 7.73 | 8.11 | 7.64 | 10.43 | 1.28 | 11.91 |
| EV/EBITDA Ratio | 9.46 | 26.44 | ||||
| EV/EBIT Ratio | 31.17 | |||||
| Debt / Equity Ratio | 0.40 | 0.30 | 0.20 | 0.01 | 0.02 | 0.01 |
| Debt / EBITDA Ratio | 1.98 | 0.19 | 27.09 | |||
| Net Debt / Equity Ratio | 0.18 | 0.22 | 0.06 | -0.30 | -0.18 | -0.23 |
| Net Debt / EBITDA Ratio | -0.45 | -3.75 | 0.66 | -5.19 | 1.75 | 1,228.89 |
| Net Debt / FCF Ratio | -0.43 | -0.64 | -0.21 | 1.47 | 0.61 | 0.61 |
| Asset Turnover | 0.18 | 0.16 | 0.13 | 0.17 | 0.18 | 0.24 |
| Quick Ratio | 1.17 | 0.58 | 2.78 | 5.27 | 2.28 | 3.17 |
| Current Ratio | 1.58 | 0.95 | 3.74 | 8.33 | 3.65 | 5.14 |
| Return on Equity (ROE) | -48.24% | -22.10% | 4.35% | -3.26% | -40.77% | -1.90% |
| Return on Assets (ROA) | -21.20% | -8.19% | 1.93% | -5.25% | -9.98% | -1.84% |
| Return on Invested Capital (ROIC) | -45.19% | -15.09% | 3.94% | -12.55% | -22.90% | -4.87% |
| Return on Capital Employed (ROCE) | -45.60% | -14.90% | 2.40% | -7.30% | -18.90% | -1.90% |
| Earnings Yield | -32.61% | -14.08% | 3.22% | -1.55% | -89.85% | -0.59% |
| FCF Yield | -19.66% | -21.12% | -27.64% | -12.24% | -60.45% | -19.52% |
| Buyback Yield / Dilution | -9.61% | -6.83% | -82.22% | -25.53% | -49.20% | -122.63% |