What is CleanSpark's net margin?

CleanSpark (CLSK) reported net margin of 47.7% in Q3 2025.

How has CleanSpark's net margin changed year-over-year?

CleanSpark's net margin increased by 224.0% year-over-year, from -38.5% to 47.7%.

What is the long-term trend for CleanSpark's net margin?

Over 5 years (2020 to 2025), CleanSpark's net margin has grown at a -27.2% compound annual growth rate (CAGR), from -232.8% to 47.7%.

What does net margin mean?

Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.

CleanSpark CLSK Net margin

Net margin at other companies

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-611.5%-747pp

Equinix, Inc.EQIX

15.1%+4.4pp

Riot Platforms, Inc.RIOT

-132.8%+148pp

Digital RealtyDLR

21.4%+10.6pp

Marathon Digital HoldingsMARA

-235.1%-313pp

Cipher Digital, Inc. CIFR

-427.8%—

Other financials

Income statement

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Revenue$191.6M+115%

Gross profit$105.8M+229%

Operating income-$345.7M-150%

Net income-$378.3M-173%

EPS (diluted)-$1.52-210%

Balance sheet

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Cash & equivalents$260.3M+168%

Total debt$709.0K-15.5%

Total equity$986.2M-47.8%

Total assets$2.9B+9.7%

Cash flow

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Operating cash flow-$135.8M-21.0%

CapEx$37.6M+10.3%

Free cash flow-$173.4M-18.5%

Valuation

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Market cap$4.42B+15.3%

P/S5.8×-1.0×

Profitability

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Gross margin55.2%-1.1pp

Operating margin41.6%+28.0pp

FCF margin-84.5%+17.8pp

Returns & leverage

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Return on equity-34.7%-67.6pp

Debt / equity0×0.0×

Current ratio8.3×-0.4×

Where this comes from

Calculated from CleanSpark’s reported figures.

net income/total revenue=47.7%

Based on trailing twelve months.

The official record: CleanSpark’s 10-Q, filed May 11, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is CleanSpark's net margin?: CleanSpark (CLSK) reported net margin of 47.7% in Q3 2025.
How has CleanSpark's net margin changed year-over-year?: CleanSpark's net margin increased by 224.0% year-over-year, from -38.5% to 47.7%.
What is the long-term trend for CleanSpark's net margin?: Over 5 years (2020 to 2025), CleanSpark's net margin has grown at a -27.2% compound annual growth rate (CAGR), from -232.8% to 47.7%.
What does net margin mean?: Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.