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Other financials

Income statement

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Revenue$174.9M-26.7%
Gross profit-$52.8M
Net income-$611.3M-176%
EPS (diluted)-$1.60-187%

Balance sheet

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Cash & equivalents$433.3M+257%
Total debt$2.5B+7.4%
Total equity$1.7B-65.3%
Total assets$4.3B-43.7%

Cash flow

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Operating cash flow-$223.8M-36.9%
CapEx$14.8M-87.6%
Free cash flow-$238.5M+15.5%

Valuation

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Market cap$4.06B-31.0%
Enterprise value$6.09B-24.4%
P/S5.1×-2.3×

Profitability

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Gross margin-24.3%
Operating margin-366.3%-405pp
Net margin-430.2%-515pp
FCF margin-154%-0.6pp

Returns & leverage

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Return on equity-107.2%-126pp
Debt / equity1.5×+1.0×
Current ratio0.9×+0.4×

Where this comes from

Reported directly by Marathon Digital Holdings in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

The source filing: Marathon Digital Holdings’s 10-Q, filed August 6, 2026.

Filed
Aug 6, 2026, 4:15 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001507605-26-000022
(in thousands, except share and per share data)Three Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Research and development7,1738,54615,42117,844
Restructuring costs1,75347,638
Total costs and operating expenses (income)695,951(441,292)1,932,061313,655
Operating income (loss)(521,070)679,777(1,582,566)138,714
Other income (loss)
Change in fair value of digital assets - receivable, net(93,456)346,547(397,368)230,480
Net gain from extinguishment of debt70,557
Interest income10,2639,63120,79521,626

Cover / Front Matter

FAQ

What is Marathon Digital Holdings's operating income?
Marathon Digital Holdings (MARA) reported operating income of -$521.07M in Q2 2026.
How has Marathon Digital Holdings's operating income changed year-over-year?
Marathon Digital Holdings's operating income decreased by 176.7% year-over-year, from $679.78M to -$521.07M.
What is the long-term trend for Marathon Digital Holdings's operating income?
Over 3 years (2022 to 2025), Marathon Digital Holdings's operating income has grown at a 67.0% compound annual growth rate (CAGR), from -$262.8M to -$1.22B.
What does operating income mean?
Gross profit minus all operating expenses (SG&A, R&D, D&A). Measures the profit from core business operations before interest, taxes, and non-operating items.

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