Standardised from the company’s filings, newest period first, labelled with the company’s own fiscal calendar. A line the company does not report is left off rather than shown as zero; margins and free cash flow are worked out here, and only where every input is present.
| Line item | Q2 FY262026-06-30 | Q1 FY262026-03-31 | Q4 FY252025-12-31 | Q3 FY252025-09-30 | Q2 FY252025-06-30 | Q1 FY252025-03-31 | Q4 FY242024-12-31 | Q3 FY242024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $44.77M | $34.01M | $35.84M | $50.58M | $47.64M | $34.41M | $34.99M | $27.06M |
| Cost of revenue | $12.40M | $2.36M | $18.89M | $17.12M | $22.09M | $24.55M | $19.62M | $14.66M |
| Gross profit | $32.37M | $31.65M | $16.94M | $33.46M | $25.54M | $9.85M | $15.36M | $12.40M |
| Gross margin | 72.3% | 93.1% | 47.3% | 66.1% | 53.6% | 28.6% | 43.9% | 45.8% |
| Selling, general and administrative | $126.94M | $127.76M | $66.65M | $16.68M | $14.29M | $50.14M | $32.28M | $11.48M |
| Operating expenses | $172.42M | $193.79M | $103.22M | $56.48M | $35.70M | $69.48M | $49.58M | $29.06M |
| Operating income | −$140.05M | −$162.14M | −$86.28M | −$23.02M | −$10.16M | −$59.63M | −$34.22M | −$16.66M |
| Operating margin | -312.8% | -476.7% | -240.8% | -45.5% | -21.3% | -173.3% | -97.8% | -61.6% |
| EBITDA | −$118.81M | −$107.97M | −$58.54M | $3.48M | $8.63M | −$44.05M | −$19.63M | −$664.00K |
| Interest income | $28.96M | $0 | −$7.59M | $4.09M | $1.23M | $0 | −$1.29M | $339.00K |
| Interest expense | −$56.39M | −$67.07M | −$62.36M | −$9.83M | −$4.01M | −$4.05M | −$3.02M | −$409.00K |
| Income before taxes | −$929.74M | −$427.68M | −$122.37M | −$455.05M | −$18.37M | −$61.42M | −$51.80M | −$20.05M |
| Income taxes | $28.00K | $28.00K | $76.00K | — | $0 | $0 | $0 | — |
| Net income | −$940.83M | −$427.70M | −$126.58M | −$455.05M | −$18.37M | −$61.42M | −$29.20M | −$22.73M |
| Net margin | -2101.6% | -1257.5% | -353.2% | -899.7% | -38.6% | -178.5% | -83.5% | -84.0% |
| EPS, basic | −$1.94 | −$1.01 | −$0.30 | −$1.13 | −$0.05 | −$0.16 | −$0.07 | −$0.06 |
| EPS, diluted | −$1.94 | −$1.01 | −$0.30 | −$1.13 | −$0.05 | −$0.16 | −$0.07 | −$0.06 |
| Diluted shares | 485.73M | 423.00M | 418.83M | 401.56M | 386.90M | 383.15M | 391.91M | 382.09M |
Figures describe TeraWulf shares, not any token. As of Aug 5, 2026, from Massive's standardised financials. The company reports these figures; a token's issuer holds the shares and reports nothing of its own here.
