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Other financials

Income statement

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Revenue$174.9M-26.7%
Gross profit-$52.8M
Operating income-$521.1M-177%
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$3.9B-31.6%
Enterprise value$5.93B-24.7%
P/S4.9×-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:ShareBasedCompensation.

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)Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Change in fair value of digital assets and digital assets - receivable, net1,361,604(682,345)
Impairment of goodwill and other assets26,253
Net gain on investments(12,429)
Stock-based compensation expense77,189103,771
Change in fair value of derivative instrument42,814(47,139)
Restructuring costs47,638
Equity in net earnings of unconsolidated affiliate5,027915
Net gain on extinguishment of debt(70,557)

Cover / Front Matter

FAQ

What is Marathon Digital Holdings's stock-based comp?
Marathon Digital Holdings (MARA) reported stock-based comp of $46.68M in Q2 2026.
How has Marathon Digital Holdings's stock-based comp changed year-over-year?
Marathon Digital Holdings's stock-based comp decreased by 14.6% year-over-year, from $54.66M to $46.68M.
What is the long-term trend for Marathon Digital Holdings's stock-based comp?
Over 4 years (2021 to 2025), Marathon Digital Holdings's stock-based comp has grown at a 1.7% compound annual growth rate (CAGR), from $160.79M to $172.3M.
What does stock-based comp mean?
Total non-cash stock-based compensation expense for equity awards (RSUs, options, ESPP), added back to net income in cash flow reconciliation.

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