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Income Statement (NONE)
| Q3 '24 | QoQ | |
|---|---|---|
| Revenue | 45M | 8% |
| Gross Profit | -12M | 4.6% |
| Cost of Revenue | 57M | 7.2% |
| Operating expense | 32M | 160.9% |
| Net Income | -37M | 37.8% |
| EBITDA | -7.4M | 130.7% |
Balance Sheet (NONE)
| Q3 '24 | QoQ | |
|---|---|---|
| Total Assets | 587M | 9.5% |
| Total Liabilities | 75M | 20.2% |
| Total Equity | 512M | 8.1% |
| Shares Outstanding | 449M | 11.8% |
Cash Flow (NONE)
| Q3 '24 | QoQ | |
|---|---|---|
| Cash from operations | -14M | 243.3% |
| Cash from financing | 65M | 52.8% |
EPS
Financial Highlights for Bitfarms in Q3 '24
Bitfarms reported a revenue of 45M, which is a 8% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at -12M, marking a -4.6% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 57M, a 7.2% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 32M, showing a 160.9% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was -37M, showing a -37.8% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was -7.4M, showing a -130.7% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
Bitfarms faced some challenges this quarter with a decline in one or more of the key metrics: revenue, gross profit, or net income. Higher operating expenses might indicate increased investments or potential inefficiencies. A decline in EBITDA signals potential operational challenges or increased costs.
