TeraWulf Inc. (WULF) income statement
NASDAQ · Financial Services · Financial - Capital Markets · 141 employees · CEO Paul Prager
- Price
- $11.73 -8.00%
- Market cap
- $5.85B
- Enterprise value
- $8.47B
- Last report
- Q2 '26 filed 2026-08-05
- Next report
- 2026-11-06 EPS est. -$0.18
TeraWulf Inc. (WULF) reported revenue of $44.8M for Q2 '26 (-6.0% year on year), operating income of -$140M (-313.7% of revenue) and net income of -$940M. Over the last four quarters revenue was $165M.
Income statement
| Income statement | Trend | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $19.7M | $23.3M | $42.4M | $35.6M | $27.1M | $35M | $34.4M | $47.6M | $50.6M | $35.8M | $34M | $44.8M | |
| Cost of revenue | $8.27M | $8.93M | $14.4M | $13.9M | $14.7M | $19.6M | $24.6M | $22.1M | $17.1M | $18.9M | $2.36M | $12.4M | |
| Gross profit | $11.4M | $14.4M | $28M | $21.7M | $12.4M | $15.4M | $9.85M | $25.5M | $33.5M | $16.9M | $31.7M | $32.4M | |
| Other operating expenses | $10.8M | $10.2M | $15.4M | $14.8M | $16.6M | $34.5M | $19.3M | $21.4M | $30.7M | $36.9M | $40.3M | $60M | |
| Operating expenses | $21.1M | $19M | $30.3M | $28.4M | $28.1M | $66.8M | $69.5M | $35.7M | $47.3M | $104M | $168M | $172M | |
| Operating income | -$9.69M | -$4.67M | -$2.32M | -$6.77M | -$15.7M | -$51.4M | -$59.6M | -$10.2M | -$13.9M | -$86.6M | -$136M | -$140M | |
| Interest income | $0 | $0 | $500K | $0 | $0 | $0 | $2.26M | $0 | $4.09M | $0 | $29.4M | $29M | |
| Interest expense | $10.3M | $9.28M | $11M | $5.33M | $409K | $3.02M | $4.05M | $4.01M | $9.83M | $62.4M | $67.1M | $56.4M | |
| Other non-operating income (gains on investments, FX ...) | -$59K | -$118K | $1.53M | -$447K | $3.93M | -$2.64M | -$2.26M | $4.2M | $431M | -$26.6M | $213M | -$3M | |
| Total non-operating income | -$9.34M | -$5.84M | -$7.3M | -$4.88M | -$4.34M | -$374K | -$1.79M | -$8.21M | -$441M | -$39.9M | -$291M | -$802M | |
| Income before tax | -$19M | -$10.5M | -$9.61M | -$11.6M | -$20.1M | -$51.8M | -$61.4M | -$18.4M | -$455M | -$127M | -$428M | -$941M | |
| Income tax | $0 | $0 | $0 | -$767K | $2.68M | $0 | $0 | $0 | $0 | $76K | $28K | -$28K | |
| Net income | -$19.1M | -$10.5M | -$9.61M | -$10.9M | -$22.7M | -$29.2M | -$61.4M | -$18.4M | -$455M | -$127M | -$428M | -$940M | |
| EPS (basic) | -$0.09 | -$0.04 | -$0.03 | -$0.03 | -$0.06 | -$0.07 | -$0.16 | -$0.05 | -$1.13 | -$0.32 | -$1.01 | -$1.94 | |
| EPS (diluted) | -$0.09 | -$0.04 | -$0.03 | -$0.03 | -$0.06 | -$0.07 | -$0.16 | -$0.05 | -$1.13 | -$0.32 | -$1.01 | -$1.94 | |
| Shares (basic, weighted) | 222M | 277M | 291M | 341M | 382M | 386M | 383M | 387M | 402M | 398M | 423M | 486M | |
| Shares (diluted, weighted) | 222M | 277M | 291M | 341M | 382M | 386M | 383M | 387M | 402M | 398M | 423M | 486M | |
| Depreciation & amortization | $8.47M | $8.52M | $15.3M | $14.4M | $15.9M | $15.6M | $16.3M | $19.5M | $27.7M | $29.6M | $30.3M | $23.1M | |
| EBITDA | -$1.16M | $3.97M | $11.5M | $8.07M | -$3.75M | -$33.2M | -$41.1M | $5.18M | -$418M | -$30.4M | -$319M | -$116M |
| Income statement | Trend | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $17.6M | $17.2M | $18.2M | $17.6M | $13.4M | $0 | $15M | $69.2M | $140M | $168M | |
| Cost of revenue | $11.3M | $11.5M | $12M | $12.2M | $9.53M | $52K | $11.1M | $27.3M | $62.6M | $82.7M | |
| Gross profit | $6.24M | $5.73M | $6.25M | $5.4M | $3.91M | -$52K | $3.95M | $41.9M | $77.4M | $85.8M | |
| Research & development | $647K | $689K | $677K | $777K | $671K | $0 | $0 | $0 | $0 | $0 | |
| Other operating expenses | $0 | $0 | $0 | $0 | $0 | $0 | $11.6M | $29.4M | $83.1M | $108M | |
| Operating expenses | $6.26M | $6.2M | $6.03M | $6.26M | $5.33M | $43.3M | $47.7M | $71.3M | $154M | $256M | |
| Operating income | -$22K | -$465K | $226K | -$864K | -$1.42M | -$43.4M | -$43.7M | -$29.4M | -$76.2M | -$170M | |
| Interest expense | $58.2K | $83.1K | $90.6K | $90.1K | $2.46M | $2.26M | $24.7M | $34.8M | $19.8M | $80.2M | |
| Other non-operating income (gains on investments, FX ...) | -$11.2K | -$23.5K | -$50.2K | $31.8K | -$858K | $0 | $2.05M | -$231K | $2.37M | $407M | |
| Total non-operating income | -$47.1K | -$59.5K | -$40.4K | -$122K | $772K | -$3.79M | -$42.4M | -$43.9M | -$22.2M | -$491M | |
| Income before tax | -$69.1K | -$524K | $185K | -$986K | -$649K | -$47.2M | -$86.2M | -$73.3M | -$98.4M | -$661M | |
| Income tax | -$4K | -$298K | $46K | -$172K | -$210K | -$615K | -$256K | $0 | -$26M | $76K | |
| Net income | -$65.1K | -$226K | $139K | -$814K | -$439K | -$95.7M | -$90.8M | -$73.4M | -$72.4M | -$661M | |
| EPS (basic) | -$0.03 | -$0.11 | $0.07 | -$0.41 | -$0.22 | -$1.12 | -$0.83 | -$0.35 | -$0.21 | -$1.66 | |
| EPS (diluted) | -$0.03 | -$0.11 | $0.07 | -$0.41 | -$0.22 | -$1.12 | -$0.83 | -$0.35 | -$0.21 | -$1.66 | |
| Shares (basic, weighted) | 2.02M | 2.01M | 1.98M | 1.98M | 1.98M | 85.2M | 111M | 210M | 351M | 398M | |
| Shares (diluted, weighted) | 2.02M | 2.01M | 1.98M | 1.98M | 1.98M | 85.2M | 111M | 210M | 351M | 398M | |
| Depreciation & amortization | $795K | $875K | $795K | $672K | $698K | $52K | $6.97M | $29.4M | $61.2M | $93.1M | |
| EBITDA | $784K | $434K | $1.07M | -$224K | $135K | -$43.3M | -$38.8M | $161K | -$17.4M | -$484M |
Standardised from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in USD.
Revenue, operating income and growth
quarterlyMargins
quarterlyCosts as % of revenue
quarterlyThe other statements
Sources
Statements, segment revenue, metrics and estimates are standardised from the company's filings. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
Data as of 2026-11-02