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Income Statement ()
| Q1 '26 | QoQ | |
|---|---|---|
| Revenue | 71M | 122.7% |
| Gross Profit | 69M | 119.8% |
| Cost of Revenue | 2.1M | 94% |
| Operating expense | 414M | 384% |
| Net Income | -220M | 21.4% |
| EBITDA | -273M | 18.3% |
Balance Sheet ()
| Q1 '26 | QoQ | |
|---|---|---|
| Total Assets | 2.61B | 5.2% |
| Total Liabilities | 920M | 13.6% |
| Total Equity | 1.38B | 3% |
| Shares Outstanding | 111M | 5.4% |
Cash Flow ()
| Q1 '26 | QoQ | |
|---|---|---|
| Cash from operations | -27M | 53.2% |
| Cash from investing | -50M | 83.3% |
| Cash from financing | 188M | 48.9% |
EPS
Financial Highlights for Hut 8 in Q1 '26
Hut 8 reported a revenue of 71M, which is a 122.7% 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 69M, marking a 119.8% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 2.1M, a -94% 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 414M, showing a 384% 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 -220M, showing a 21.4% 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 -273M, showing a 18.3% 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.
It was a positive quarter for Hut 8 with growth in revenue, gross profit, and net income. Higher operating expenses might indicate increased investments or potential inefficiencies.
