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CleanSpark CLSK Operating margin

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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
Net margin47.7%+33.0pp
FCF margin-84.5%+17.8pp

Returns & leverage

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Return on equity-34.7%-67.6pp
Debt / equity0.0×
Current ratio8.3×-0.4×

Where this comes from

Calculated from CleanSpark’s reported figures.

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 operating margin?
CleanSpark (CLSK) reported operating margin of 41.6% in Q3 2025.
How has CleanSpark's operating margin changed year-over-year?
CleanSpark's operating margin increased by 205.8% year-over-year, from -39.3% to 41.6%.
What is the long-term trend for CleanSpark's operating margin?
Over 4 years (2020 to 2025), CleanSpark's operating margin has grown at a -27.5% compound annual growth rate (CAGR), from -151% to 41.6%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.