← TERAWULF INC.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Net loss | ($65k) | ($226k) | — | ($814k) | ($439k) | ($95.7m) | ($90.8m) | ($73.4m) | ($72.4m) | ($661.4m) | — | |
| Equity in net loss (income) of investee, net of tax | — | — | — | — | — | $1.5m | $15.7m | $9.3m | ($3.4m) | $4.1m | — | |
| Net Income (Loss) Available to Common Stockholders, Basic | ($65k) | — | — | — | — | — | ($91.6m) |
($74.5m)
+18.65%
|
— | — | — | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ($65k) | ($226k) | $139k | ($814k) | ($439k) | — | ($90.8m) | ($73.4m) | ($72.4m) | ($661.4m) | — | |
| Depreciation, Depletion and Amortization | $761k | $837k | $759k | $640k | $662k | — | $6.7m | $28.4m | $59.8m | $88.6m | $110.7m | |
| Amortization | — | — | — | — | $36k | — | — | — | — | — | — | |
| Amortization of Deferred Charges | $34k | $38k | $36k | $43k | — | — | — | — | — | — | — | |
| Amortization of Debt Issuance Costs and Discounts | — | — | — | — | — | — | $11.7m | $19.5m | $11.4m | — | — | |
| Amortization of Intangible Assets | $25k | $26k | $25k | $32k | $26k | — | — | — | — | — | — | |
| Amortization of debt issuance costs, commitment fees and accretion of debt discount | — | — | — | — | — | $921k | $11.7m | $19.5m | $11.4m | $22.2m | — | |
| Amortization of right-of-use asset | — | — | — | — | — | $52k | $303k | $1.0m | $1.4m | $4.5m | — | |
| Deferred Income Tax Expense (Benefit) | $61k | ($302k) | $39k | ($183k) | — | — | ($256k) | $0 | $0 | $76k | $132k | |
| Share-based Payment Arrangement, Noncash Expense | $25k | $24k | $14k | $9k | $22k | — | $1.6m | $5.9m | $30.9m | $50.9m | $196.3m | |
| Payment, Tax Withholding, Share-based Payment Arrangement | — | — | — | — | — | — | — | $2.0m | $23.7m | $28.5m | — | |
| Share-based Payment Arrangement, Expense | $25k | $24k | $14k | $9k | $22k | — | — | $5.9m | $30.9m | $50.9m | $196.3m | |
| Stock-based compensation expense | $25k | $24k | $14k | $9k | $22k | — | $1.6m | $5.9m | $30.9m | $50.9m | $196.3m | |
| Payments of tax withholding related to net share settlements of stock-based compensation awards | — | — | — | — | — | — | $0 | ($2.0m) | ($23.7m) | ($28.5m) | — | |
| Goodwill, Impairment Loss | — | — | — | — | — | — | — | — | — | $0 | $25.7m | |
| Impairment of Intangible Assets (Excluding Goodwill) | — | — | — | — | — | — | $0 | $0 | — | — | — | |
| Impairment of Intangible Assets, Finite-lived | $0 | $0 | $0 | $93k | $17k | — | — | — | — | — | — | |
| Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | — | — | — | — | — | — | $1.5m | $3.0m | $0 | $0 | — | |
| Impairment of digital assets | — | — | — | — | — | — | $1.5m | $3.0m | $0 | $0 | — | |
| Equity Method Investment, Realized Gain (Loss) on Disposal | — | — | — | — | — | — | — | — | $22.6m | $0 | — | |
| Income (Loss) from Equity Method Investments | — | — | — | — | — | — | ($15.7m) | ($9.3m) | $3.4m | ($4.1m) | — | |
| Changes in operating assets and liabilities: | ||||||||||||
| Increase (Decrease) in Accounts Receivable | $171k | ($146k) | $25k | $220k | ($316k) | — | — | — | — | $914k | ($12.0m) | |
| Increase in accounts receivable | ($171k) | $146k | ($25k) | ($220k) | $316k | — | — | $0 | $0 | ($914k) | — | |
| Decrease (increase) in other receivables | — | — | — | — | — | — | $0 | ($1.0m) | ($2.8m) | $459k | — | |
| Increase (Decrease) in Inventories | ($134k) | $100k | ($39k) | $134k | ($536k) | — | — | — | — | — | — | |
| Inventory Write-down | — | — | — | — | $116k | — | — | — | — | — | — | |
| (Decrease) increase in accounts payable | $310k | ($409k) | $326k | $114k | ($302k) | $9.7m | $10.2m | ($7.3m) | $740k | ($3.2m) | — | |
| Increase in accrued lessor costs | — | — | — | — | — | — | — | $0 | $0 | $27.6m | — | |
| Increase (decrease) in accrued compensation and other accrued liabilities | — | — | — | — | — | $3.6m | $5.9m | ($931k) | $694k | $43.2m | — | |
| (Increase) decrease in other current assets | — | — | — | — | — | ($113k) | ($46k) | ($215k) | $288k | ($10.7m) | — | |
| (Increase) decrease in other assets | — | — | — | — | — | ($109k) | ($994k) | $310k | ($466k) | ($832k) | — | |
| Decrease in other liabilities | — | — | — | — | — | — | — | $0 | $0 | ($398k) | — | |
| Net Cash Provided by (Used in) Operating Activities | $917k |
$205k
-77.68%
|
$1.2m
+498.35%
|
($477k)
-138.95%
|
($399k)
+16.39%
|
($24.1m)
-5942.45%
|
($34.1m)
-41.36%
|
$4.3m
+112.51%
|
($24.4m)
-672.88%
|
($123.2m)
-404.38%
|
($279.2m)
-126.63%
|
|
| Cash flows from investing activities: | ||||||||||||
| Payments to Acquire Property, Plant, and Equipment | $2.1m | $230k | $543k | $478k | $150k | ($109.1m) | $61.1m | $75.2m | $267.9m | $1.1b | ($2.2b) | |
| Gain (Loss) on Disposition of Property Plant Equipment | $6k | $29k | ($1k) | $8k | $2k | — | ($4.9m) | ($1.2m) | ($17.8m) | ($4.9m) | $1.4b | |
| Investments in joint venture, including direct payments made on behalf of joint venture | — | — | — | — | — | ($93.9m) | ($46.2m) | ($2.8m) | $0 | ($450.0m) | — | |
| Payments to Acquire Businesses, Net of Cash Acquired | — | — | — | — | — | — | — | — | — | $21.7m | ($469.0m) | |
| Acquisitions, net of cash acquired | — | — | — | — | — | ($10.3m) | — | $0 | $0 | ($21.7m) | ($469.0m) | |
| Net Cash Provided by (Used in) Investing Activities | ($5.3m) | $115k | ($393k) | $8k | $2.1m | ($201.4m) | ($94.0m) | ($78.0m) | ($91.2m) | ($1.4b) | ($2.8b) | |
| Cash flows from financing activities: | ||||||||||||
| Repayments of Long-term Debt | $79k | $140k | $138k | $140k | $144k | — | — | — | — | — | ($9.2m) | |
| Gain (Loss) on Extinguishment of Debt | — | — | — | — | — | — | ($2.1m) | $0 | ($6.3m) | $0 | — | |
| Proceeds from Issuance of Long-term Debt | $3.4m | — | — | — | $1.2m | — | $22.5m | — | — | — | $5.2b | |
| Loss on extinguishment of debt | — | — | — | — | — | — | $2.1m | $0 | $6.3m | $0 | — | |
| Proceeds from issuance of long-term debt, net of issuance costs paid of $67,062, $0 and $0 | — | — | — | — | — | $118.3m | $22.5m | $0 | $0 | $3.1b | $5.2b | |
| Principal payments on long-term debt | — | — | — | ($140k) | ($144k) | — | $0 | ($6.6m) | ($139.4m) | $0 | — | |
| Payments of prepayment fees associated with early extinguishment of long-term debt | — | — | — | — | — | — | $0 | $0 | ($1.3m) | $0 | — | |
| Payments for Repurchase of Common Stock | — | $300k | — | $50k | — | — | — | — | $118.2m | $33.3m | — | |
| Proceeds from Issuance of Common Stock | — | — | — | — | — | $104.4m | $47.3m | $135.9m | $188.7m | $0 | $1.2b | |
| Related party expense to be settled with respect to common stock | — | — | — | — | — | $12.5m | $2.1m | $2.9m | $0 | $2.4m | — | |
| Common stock issued for interest expense | — | — | — | — | — | — | $82k | $26k | $0 | $0 | — | |
| Net Cash Provided by (Used in) Financing Activities | $3.2m |
($438k)
-113.70%
|
($138k)
+68.46%
|
($190k)
-37.49%
|
$1.1m
+663.35%
|
$272.0m
+25304.35%
|
$90.0m
-66.91%
|
$119.9m
+33.21%
|
$335.2m
+179.65%
|
$4.9b
+1373.97%
|
$6.1b
+22.63%
|
|
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | $693k | ($659k) | $2.7m | — | ($38.1m) | $46.1m | $219.6m | $3.4b | $3.0b | |
| Cash, cash equivalents and restricted cash at beginning of year | — | $930k | $1.6m | $964k | $3.7m | $46.5m | $8.3m | $54.4m | $274.1m | $3.7b | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | $1.6m | $964k | $3.7m | $6.3m | $8.3m | $54.4m | $274.1m | $3.7b | $3.0b | |
| Net change in cash, cash equivalents and restricted cash | — | ($119k) | $693k | ($659k) | $2.7m | $46.5m | ($38.1m) | $46.1m | $219.6m | $3.4b | — | |
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Supplemental disclosure of cash flow information: | ||||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $43k | $71k | $78k | $79k | $75k | $252k | $14.0m | $19.6m | $7.0m | $14.0m | — | |
| Income Taxes Paid, Net | $102k | $60k | $8k | $9k | $8k | — | — | — | — | — | — | |
| Additional Financial Items | ||||||||||||
| Equity Securities, FV-NI, Gain (Loss) | — | — | — | — | — | — | — | — | $22.6m | $0 | — | |
| Foreign Currency Transaction Gain (Loss), before Tax | — | — | — | — | — | — | ($804k) | — | — | — | — | |
| Gain (Loss) on Disposition of Intangible Assets | — | — | — | — | — | — | $569k | $3.2m | — | — | — | |
| Goodwill | — | — | — | — | — | — | — | — | — | $55.5m | $25.7m | |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | — | — | — | — | — | — | ($85.9m) | ($73.3m) | ($72.4m) | ($661.4m) | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | — | — | — | — | — | — | ($4.9m) | ($129k) | $0 | $0 | — | |
| Income Tax Expense (Benefit) | ($4k) | ($298k) | $46k | ($172k) | ($210k) | — | ($256k) | $0 | $0 | $76k | — | |
| Interest Expense Nonoperating | — | — | — | — | — | — | — | — | $19.8m | $80.2m | — | |
| Investment Income, Interest | $11k | $24k | $50k | $61k | $1.2m | — | — | — | — | — | — | |
| Operating Costs and Expenses | — | — | — | — | — | — | $2.0m | — | — | — | — | |
| Operating Expenses | — | — | — | — | — | — | $47.7m | $71.3m | — | — | — | |
| Operating Lease, Lease Income | — | — | — | — | — | — | — | — | — | $16.9m | — | |
| Payments of Financing Costs | — | — | — | — | — | — | — | — | $12.9m | $51.2m | — | |
| Proceeds from Stock Options Exercised | $4k | $2k | — | — | — | — | — | — | — | — | — | |
| Revenue from Contract with Customer, Including Assessed Tax | — | — | — | — | — | — | $15.0m | $69.2m | $140.1m | $151.6m | — | |
| Revenue recognized from digital asset mining and hosting services | — | — | — | — | — | — | ($10.8m) | ($63.9m) | ($139.3m) | ($151.6m) | — | |
| Loss (gain) on fair value of digital assets, net | — | — | — | — | — | — | $0 | $0 | ($2.2m) | $612k | — | |
| Realized gain on sale of digital assets | — | — | — | — | — | — | ($569k) | ($3.2m) | $0 | $0 | — | |
| Proceeds from sale of digital assets | — | — | — | — | — | — | $9.7m | $83.9m | $97.6m | $151.3m | — | |
| Digital assets paid as consideration for services | — | — | — | — | — | — | $0 | $0 | $370k | $0 | — | |
| Change in fair value of contingent consideration | — | — | — | — | — | — | — | $0 | $0 | $10.4m | — | |
| Change in fair value of warrants and derivatives | — | — | — | — | — | — | — | $0 | $0 | $429.8m | — | |
| Gain on sale of equity interest in investee | — | — | — | — | — | — | $0 | $0 | ($22.6m) | $0 | — | |
| Loss from discontinued operations, net of tax | — | — | — | — | — | $49.1m | $4.9m | $129k | $0 | $0 | — | |
| (Increase) decrease in prepaid expenses | — | — | — | — | — | ($1.5m) | ($3.6m) | $555k | $2.0m | ($6.6m) | — | |
| Increase in deferred charges | — | — | — | — | — | — | — | $0 | $0 | ($57.4m) | — | |
| (Decrease) increase in other amounts due to related parties | — | — | — | — | — | $60k | $700k | ($2.0m) | $480k | ($565k) | — | |
| Increase in deferred rent liability | — | — | — | — | — | — | — | $0 | $0 | $81.5m | — | |
| Decrease in operating lease liability | — | — | — | — | — | $4k | $175k | ($42k) | ($11.1m) | ($781k) | — | |
| Proceeds from sale of equity interest in investee | — | — | — | — | — | — | $0 | $0 | $86.1m | $0 | — | |
| Principal payments on finance lease | — | — | — | — | — | — | $0 | $0 | ($941k) | ($9.2m) | — | |
| Payment for settlement of preferred stock conversion | — | — | — | — | — | — | — | $0 | $0 | ($12k) | — | |
| Proceeds from exercise of warrants | — | — | — | — | — | — | $5.7m | $2.5m | $4.8m | $5.7m | — | |
| Purchase of capped call | — | — | — | — | — | — | $0 | $0 | ($60.0m) | ($100.6m) | — | |
| Purchase of treasury stock | — | ($300k) | — | ($50k) | — | — | $0 | $0 | ($118.2m) | ($33.3m) | — | |
| Proceeds from issuance of convertible notes, net of issuance costs paid of $51,246, $12,950, and $0 | — | — | — | — | — | — | — | $0 | $487.1m | $2.0b | — | |
| Proceeds from issuance of convertible promissory note | — | — | — | — | — | — | $14.7m | $1.2m | $0 | $0 | — | |
| Payment of contingent value rights liability related to proceeds from sale of net assets held for sale | — | — | — | — | — | — | $0 | ($11.0m) | $0 | $0 | — | |
| Income taxes | — | — | — | — | — | — | $0 | $0 | $0 | $0 | — |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.