Riot Platforms, Inc.

RIOT 10-K · FY 2025

RIOT FY 2025 request

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Income Statement

Income Statement
Metric FY 2025 FY 2024 YoY
Revenue 647,435 376,658 +71.9%
Show Product Lines breakouts
Bitcoin Mining 576,276 321,002 +79.5%
Engineering 64,688 38,491 +68.1%
Other 6,471 17,165 -62.3%
Show Business Segments breakouts
Bitcoin Mining 576,276 321,002 +79.5%
Bitcoin Mining · Operating Segments 576,276 321,002 +79.5%
Engineering 64,688 38,491 +68.1%
Engineering · Intersegment Elimination 29,754 7,979 +272.9%
Engineering · Operating Segments 94,442 46,470 +103.2%
Reportable Segment Aggregation Before Other Operating Segment 640,964 359,493 +78.3%
Reportable Segment Aggregation Before Other Operating Segment · Intersegment Elimination 29,754 7,979 +272.9%
Reportable Segment Aggregation Before Other Operating Segment · Operating Segments 670,718 367,472 +82.5%
Show Consolidation Items breakouts
Corporate Non Segment 6,471 17,165 -62.3%
Intersegment Elimination -29,754 -7,979 -272.9%
Cost of Revenue (FY)
Show Product Lines breakouts
Bitcoin Mining 339,011 189,224 +79.2%
Engineering 50,893 41,731 +22.0%
Other 11,971 31,800 -62.4%
Business Combination Acquisition Related Costs 187 5,541 -96.6%
Show Consolidation Items breakouts
Material Reconciling Items 187 5,541 -96.6%
Show Business Acquisition breakouts
E4A Solutions 2.8
Selling, General & Administrative 298,776 266,915 +11.9%
Show Consolidation Items breakouts
Material Reconciling Items 298,776 266,915 +11.9%
Depreciation And Amortization 346,811 212,053 +63.5%
Show Consolidation Items breakouts
Material Reconciling Items 346,811 212,053 +63.5%
Change In Fair Value Of Cryptocurrencies 115,880 -457,409 +125.3%
Change In Fair Value Of Derivative Asset 1,447 -45,277 +103.2%
Power Curtailment Credits -56,729 -33,685 -68.4%
Show Consolidation Items breakouts
Material Reconciling Items 56,729 33,685 +68.4%
Change In Fair Value Of Contingent Consideration -18,071 -2,459 -634.9%
Show Consolidation Items breakouts
Material Reconciling Items 18,071 2,459 +634.9%
Gain Loss On Settlement Of Contract 158,137
Show Consolidation Items breakouts
Material Reconciling Items -158,137
Gain Loss On Legal Settlement 20,000
Gain Loss Related To Litigation Settlement -26,007
Show Consolidation Items breakouts
Material Reconciling Items -26,007
Gain Loss On Sale Of Property Plant Equipment -2,267 17,429 -113.0%
Casualty Related Charges Recoveries Net -174 -2,795 +93.8%
Show Consolidation Items breakouts
Material Reconciling Items -174 -2,795 +93.8%
Impairment Of Long Lived Assets Held For Use 29,736
Show Consolidation Items breakouts
Material Reconciling Items 29,736
Total Costs & Expenses 1,269,601 223,068 +469.2%
Operating Income -622,166 153,590 -505.1%
Other Nonoperating Income 13,984 27,166 -48.5%
Show Consolidation Items breakouts
Material Reconciling Items 13,984 27,166 -48.5%
Other Nonoperating Expense -24,144 -1,985 -1116.3%
Show Consolidation Items breakouts
Material Reconciling Items -24,144 -1,985 -1116.3%
Marketable Securities Gain Loss Excluding Other Than Temporary Impairments -28,192 -69,489 +59.4%
Debt Securities Gain Loss -5,757
Show Financial Instrument breakouts
Convertible Debt Securities -5.8
Show Consolidation Items breakouts
Material Reconciling Items 5,757
Other Operating Income Expense Net 2,944 863 +241.1%
Non-Operating Income (Expense) -41,165 -43,445 +5.2%
Income Loss From Continuing Operations Before Interest Expense Interest Income Income Taxes Extraordinary Items Noncontrolling Interests Net -663,331 110,145 -702.2%
Current Income Tax Expense Benefit 150 -744 +120.2%
Income Tax Expense (Benefit) 150 -744 +120.2%
Net Income -663,181 109,401 -706.2%
Show Equity Components breakouts
Retained Earnings -663,181 109,401 -706.2%
EPS (Basic) -1.95 0.4 -587.5%
EPS (Diluted) -1.95 0.34 -673.5%
Wtd Avg Shares (Basic) 340,719,298 275,980,010 +23.5%
Wtd Avg Shares (Diluted) 340,719,298 318,925,961 +6.8%
Gross Profit (FY)
Show Business Segments breakouts
Bitcoin Mining · Operating Segments 237,265 131,778 +80.0%
Engineering · Operating Segments 43,549 -1,127 +3964.2%
Show Consolidation Items breakouts
Corporate Non Segment -5,500 -14,635 +62.4%
Intersegment Elimination -29,754 -2,113 -1308.1%
Operating Segments 280,814 130,651 +114.9%
Interest Income (FY)
Show Financial Instrument breakouts
Convertible Debt Securities 633
Other Non-Operating Income (Expense) 2,944 863 +241.1%
Income Before Taxes -663,331 110,145 -702.2%
Net Income -663,331 110,145 -702.2%
Comprehensive Income -663,403 109,473 -706.0%
Net Income Loss Available To Common Stockholders Basic -663,181 109,401 -706.2%

Balance Sheet

Balance Sheet
Metric FY 2025 FY 2024 YoY
Current Assets
Cash & Cash Equivalents 233,517 277,860 -16.0%
Restricted Cash Current 76,272 73,441 +3.9%
Accounts Receivable 29,788 27,124 +9.8%
Contract With Customer Asset Net Current 8,308 6,478 +28.2%
Prepaid Expenses & Other Current Assets 59,447 40,288 +47.6%
Derivative Assets Current 41,378 40,020 +3.4%
Total Current Assets 448,710 599,476 -25.1%
Non-Current Assets
Property, Plant & Equipment 1,528,716 1,338,787 +14.2%
Crypto Asset Fair Value Noncurrent 1,227,462 1,654,468 -25.8%
Crypto Asset Fair Value Restricted Noncurrent 347,979
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level1 347,979
Intangible Assets 30,187 34,053 -11.4%
Show Finite Lived Intangible Assets By Major Class breakouts
Customer Contracts 24,462 27,489 -11.0%
Trademarks 3,944 4,558 -13.5%
UL Listings 1,781 2,006 -11.2%
Derivative Assets Noncurrent 106,670 109,475 -2.6%
Goodwill 122,499 121,887 +0.5%
Show Business Segments breakouts
Bitcoin Mining · Block Mining Inc. 97.2
Engineering · E4A Solutions 25.3
Show Business Acquisition breakouts
E4A Solutions 25,287
Total Assets 3,936,767 3,935,307 0.0%
Operating Lease Right-of-Use Assets 26.7 27.5 -2.9%
Other Assets
Deposit Assets 76,511 30,115 +154.1%
Finance And Operating Lease Right Of Use Asset 30,171 27,492 +9.7%
Other Long Term Investments 17,862 19,554 -8.7%
Current Liabilities
Accounts Payable 23,420 17,609 +33.0%
Deferred Revenue (Current) 37,117 9,644 +284.9%
Accrued Liabilities 142,852 75,672 +88.8%
Contingent Consideration Liability Future Power Credits Current Portion 6,185 23,626 -73.8%
Current Portion of Long-Term Debt 253,887 314 +80755.7%
Operating Lease Liability Current 6,314 4,621 +36.6%
Total Current Liabilities 469,775 160,385 +192.9%
Non-Current Liabilities
Operating Lease Liabilities 19,648 23,915 -17.8%
Long-Term Debt 586,909 584,311 +0.4%
Other Non-Current Liabilities 19 6,192 -99.7%
Total Liabilities 1,078,361 791,622 +36.2%
Long-Term Debt 840,796 584,625 +43.8%
Show Debt Instrument breakouts
Convertible Notes Payable 582.2 579.3 +0.5%
Show Credit Facility breakouts
Notes Payable To Banks 5,009
Deferred Tax Liabilities -55,808 -214,625 +74.0%
Other Liabilities
Contingent Consideration Liability Future Power Credits 2,010 3,229 -37.8%
Stockholders' Equity
Common Stock 4,212,006 3,833,882 +9.9%
Retained Earnings -1,353,600 -690,419 -96.1%
Total Stockholders' Equity 2,858,406 3,143,685 -9.1%
Show Equity Components breakouts
Common Stock 4,212,006 3,833,882 +9.9%
Retained Earnings -1,353,600 -690,419 -96.1%
Total Liabilities & Equity 3,936,767 3,935,307 0.0%

Cash Flow Statement

Cash Flow Statement
Metric FY 2025 FY 2024 YoY
Operating Activities
Stock-Based Compensation 125,711 125,204 +0.4%
Amortization Of License Fee Revenue -388 -97 -300.0%
Amortization Of Right Of Use Assets 6,324 3,908 +61.8%
Amortization of Financing Costs 4,295 250 +1618.0%
Show Debt Instrument breakouts
Convertible Notes Payable 3 0.2 +1400.0%
Show Credit Facility breakouts
$200 Million Credit Facility 1.6
Fair Value Adjustment Of Warrants 1,447 -45,277 +103.2%
Change In Fair Value Of Contingent Considerations -18,071 -2,459 -634.9%
Gain Loss On Settlement Of Contract Noncash Portion 35,518
Marketable Securities Unrealized Gain Loss 28,192 69,489 -59.4%
Show Consolidation Items breakouts
Material Reconciling Items 28,192 69,489 -59.4%
Cryptocurrencies Mining -576,276 -321,002 -79.5%
Increase Decrease In Operating Assets -30,495 7,839 -489.0%
Increase Decrease In Operating Liabilities 24,086 13,879 +73.5%
Net Cash from Operations -572,928 -255,052 -124.6%
Depreciation & Amortization 342.8 206.2 +66.2%
Investing Activities
Payments For Asset Acquisitions -7,250
Payment For Acquisition Land -148,379
Deposits On Equipment -213,595 -442,473 +51.7%
Show Counterparty Name breakouts
MicroBT Electronics Technology Co., LTD -208 -364.8 +43.0%
Other Miners -5.6 -77.7 +92.8%
Proceeds From Sale Of Cryptocurrencies Investing Activity 535,486
Security Deposits In Investing Activities 1,768 -4,095 +143.2%
Proceeds From Sale Of Equity Securities Fv Ni 106,073
Capital Expenditures -201,382 -240,340 +16.2%
Payments To Acquire Equipment On Lease -3,595
Proceeds From Insurance Settlement Investing Activities 174 3,105 -94.4%
Proceeds From Sale Of Property Plant And Equipment 6,827 14,316 -52.3%
Net Cash from Investing 76,127 -1,508,805 +105.0%
Reclassification Of Deposits On Equipment To Property And Equipment 165,431 623,316 -73.5%
Construction In Progress Included In Accrued Expenses 51,288 15,146 +238.6%
Bitcoin Exchanged For Employee Compensation Noncash Investing And Financing Activities 4,062 2,478 +63.9%
Right Of Use Assets Exchanged For New Operating Lease Liabilities 15,989 10,987 +45.5%
Financing Activities
Proceeds From Issuance Of Common Stock 212,735 977,030 -78.2%
Show Award Type breakouts
Restricted Stock · 2019 Equity Incentive Plan 4.3 11.6 -62.9%
Restricted Stock · Members of our board of directors and an employee of Company 4.3
Show Statement Class Of Stock breakouts
Common Stock · August 2024 ATM Program 207.7 380 -45.3%
Payments Of Stock Issuance Costs -5,033 -20,393 +75.3%
Show Statement Class Of Stock breakouts
Common Stock · August 2024 ATM Program -5 -7.8 +35.9%
Proceeds From Lines Of Credit (FY)
Show Credit Facility breakouts
$200 Million Credit Facility 200,000
Revolving Credit Facility 61,000
Repayments Of Lines Of Credit -6,728 -866 -676.9%
Debt Issuance Costs -2,396 -15,249 +84.3%
Show Debt Instrument breakouts
Convertible Notes Payable -15.2
Share Repurchases -4,289 -11,562 +62.9%
Net Cash from Financing 455,289 1,517,989 -70.0%
Supplemental
Interest Paid 15,451 45 +34235.6%
Income Taxes Paid 1,036 107 +868.2%
Income Taxes Paid 960
Other Cash Flow
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect -41,512 -245,868 +83.1%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 309,789 351,301 -11.8%
Restricted Cash And Cash Equivalents 76,272 73,441 +3.9%

Values in thousands USD. Source: SEC EDGAR 10-K filing.

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