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TeraWulf WULF Gross Profit

Discontinued — last reported Q2 '26

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Segments

By segment

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HPC Leasing Segment$9.01M
Digital Asset Mining Segment-$78K-100%

Other financials

Income statement

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Revenue$44.8M-6.0%
Operating income-$140.5M-801%
Net income-$939.9M-5,017%
EPS (diluted)-$1.94-3,780%

Balance sheet

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Cash & equivalents$3.0B+3,213%
Total debt$23.6M-94.6%
Total equity$147.3M-15.5%
Total assets$8.0B+826%

Cash flow

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Operating cash flow-$136.7M-149%
CapEx$855.6M+613%
Free cash flow-$992.3M-468%

Valuation

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Market cap$8.95B+346%
Enterprise value$5.95B+153%
P/S54.2×+40.3×

Profitability

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Gross margin69.3%+25.4pp
Operating margin-250.4%-719pp
Net margin-1,179.9%-1,288pp
FCF margin-1,515.9%-2,047pp

Returns & leverage

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Return on equity-1,212.1%-1,263pp
Debt / equity0.2×-2.4×
Current ratio0.7×+0.1×

Where this comes from

Calculated from TeraWulf’s reported figures.

The source filing: TeraWulf’s 10-Q, filed August 5, 2026.

Filed
Aug 5, 2026, 4:31 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001083301-26-000166
Line itemThree Months Ended June 30, 2026Six Months Ended June 30, 2025Six Months Ended June 30, 20262025
Reportable segment profit$8,929$22,028$29,378$28,988
Selling, general and administrative expenses112,4119,996240,01656,569
Selling, general and administrative expenses – related party14,5294,29214,6887,863
Depreciation21,24118,78649,71834,360
Loss (gain) on fair value of digital assets, net799(887)1,452(17)
Change in fair value of contingent consideration1,6001,600
Impairment of property, plant, and equipment25,697
Loss on disposals of property, plant, and equipment3993,8313993,831

Item 1. Financial Statements

FAQ

What is TeraWulf's gross profit?
TeraWulf (WULF) reported gross profit of $32.37M in Q2 2026.
How has TeraWulf's gross profit changed year-over-year?
TeraWulf's gross profit increased by 26.7% year-over-year, from $25.54M to $32.37M.
What is the long-term trend for TeraWulf's gross profit?
Over 3 years (2022 to 2025), TeraWulf's gross profit has grown at a 179.0% compound annual growth rate (CAGR), from $3.95M to $85.79M.
What does gross profit mean?
Revenue minus cost of revenue — the profit available to cover operating expenses, representing the company's pricing power and production efficiency.

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