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TeraWulf WULF Q4 2025 Annual earnings

Reported February 26, 2026 · After market close

Revenue$35.9MMiss by $8.7M
EPS-$0.28Miss by $0.15
Revenue estimate$44.6M
EPS estimate-$0.13

Next report

Nov 9, 2026 (in 2 months)
Revenue estimate$63.9M
EPS estimate-$0.18

Financials

Q4 2025

Income statement

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Revenue$35.8M+2.4%
Gross profit$16.9M+10.3%
Operating income-$86.3M-67.9%
Net income-$126.6M-334%
EPS (diluted)-$0.29-262%

Balance sheet

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Cash & equivalents$3.7B+1,258%
Total debt$3.6B+95,111%
Total equity$140.4M-42.5%
Total assets$6.6B+733%

Cash flow

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Operating cash flow-$88.2M-106%
CapEx$615.0M+300%
Free cash flow-$703.2M-258%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$4.81B+120%
Enterprise value$4.65B+143%
P/S28.6×+13.0×

Profitability

See full
Gross margin50.9%-4.4pp
Operating margin-110.5%-3,646pp
Net margin-392.6%-463pp
FCF margin-702.5%-1,217pp

Returns & leverage

See full
Return on equity-343.7%-382pp
Debt / equity25.4×+25.4×
Current ratio2×-3.4×

Segments

By segment

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Digital Asset Mining Segment$26.1M-25.3%

By product

See full
Crypto Mining$26.2M-25.1%

FAQ

When did TeraWulf report Q4 2025 earnings?
TeraWulf (WULF) reported Q4 2025 earnings on February 26, 2026 after market close.
What were TeraWulf's Q4 2025 revenue and EPS?
TeraWulf reported revenue of $35.9M and eps of $-0.28 for Q4 2025.
Did TeraWulf beat estimates in Q4 2025?
Revenue missed the consensus estimate of $44.6M by $8.7M. EPS missed the consensus estimate of $-0.13 by $0.15.
How did TeraWulf's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 2.6% from $35.0M a year earlier and eps declined 250.0% from $-0.08.
Where can I find TeraWulf's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001083301-26-000026) and the 10-K periodic report (0001083301-26-000031) directly on SEC EDGAR. The filing index links above go to sec.gov.