MARA Holdings, Inc. (MARA)
MARA Holdings, Inc. brought in $716M of revenue over the twelve months to September 30, 2026, down 22.1% from a year earlier. It posted a net loss of $2.9B. In fiscal 2025 capital spending exceeded operating cash flow by $1.2B. At September 30, 2026 it held $946.5M in cash against $3B of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on November 9, 2026.
Key facts about MARA Holdings, Inc.
- Net worth
- MARA Holdings, Inc. has a market value (market cap) of $2.6B at the latest share price, and shareholders' equity of $2.4B on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $907.1M (+38.2% year on year), with a net loss of $1.3B. Over the 12 months to September 30, 2026: revenue $716M, net loss $2.9B.
- Cash flow
- In fiscal 2025 operations used $802.7M of cash.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on November 9, 2026 and covers the period to September 30, 2026. Open on SEC EDGAR
- Next earnings report
- MARA Holdings, Inc.'s next report is expected around February 25, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
What MARA Holdings, Inc. does
MARA Holdings, Inc. is registered with the SEC under industry code SIC 6199 (Finance Services). Its shares trade on NASDAQ under the ticker MARA.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $907.1M | -$1.3B | -$3.69 | -$1.2B |
| 2024 | $656.4M | $541.3M | $1.72 | -$927.8M |
| 2023 | $387.5M | $261.2M | $1.06 | -$343.3M |
| 2022 | $117.8M | -$694M | -$6.12 | -$217.6M |
| 2021 | $159.2M | -$29.8M | -$0.30 | -$292.8M |
| 2020 | $4.4M | -$10.4M | -$0.11 | -$25.5M |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where MARA ranks in Finance
Latest SEC filings
What MARA Holdings, Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.
- November 9, 2026Quarterly report 10-Q · period to September 30, 2026Revenue fell 35% to $164.2M versus the same quarter last year; diluted EPS $1.28 versus $0.27.
- November 9, 2026
- September 25, 2026Material agreement8-KMARA amended its Texas project purchase agreement and posted a $100.0 million power capacity security deposit.
- August 6, 2026Quarterly report 10-Q · period to June 30, 2026Revenue fell 27% to $174.9M versus the same quarter last year; diluted EPS -$1.60 versus $1.84.
- August 6, 2026
- August 4, 2026
- July 9, 2026
- June 25, 2026Other event 8-K
- June 22, 2026
- May 11, 2026Quarterly report 10-Q · period to March 31, 2026Revenue fell 18% to $174.6M versus the same quarter last year; diluted EPS -$3.31 versus -$1.55.
Insider trades
What the people running MARA Holdings, Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.
Insiders sold $1.7M worth of shares in the last 90 days and bought none on the open market. All of the selling was pre-planned under Rule 10b5-1 trading plans.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| November 4, 2026 | Nowaid ZabiGeneral Counsel | Shares withheld for tax | 13,884 | $89.3K |
| November 4, 2026 | Khan Salman HassanChief Financial Officer | Shares withheld for tax | 30,215 | $194.3K |
| November 4, 2026 | Thiel Frederick GChief Executive Officer, Director | Shares withheld for tax | 67,704 | $435.3K |
| November 4, 2026 | Hart Craig A.Director | Received as pay | 22,936 | - |
| November 4, 2026 | Novak Nancy K.Director | Received as pay | 22,936 | - |
| November 2, 2026 | Thiel Frederick GChief Executive Officer, Director | Soldpre-planned (10b5-1) | 27,505 | $186.8K |
| October 30, 2026 | Thiel Frederick GChief Executive Officer, Director | Shares withheld for tax | 40,496 | $274.2K |
| October 30, 2026 | Khan Salman HassanChief Financial Officer | Shares withheld for tax | 33,569 | $227.3K |
Who owns MARA
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Vanguard Portfolio Management13G, passive | 6.99% | April 29, 2026 |
| Vanguard Capital Management13G, passive | 5.05% | April 30, 2026 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 413 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| BlackRock, Inc. | 64,095,643 | +4,320,342 |
| Vanguard Portfolio Management LLC | 27,399,926 | +960,502 |
| Vanguard Capital Management LLC | 16,544,675 | +192,236 |
| State Street Corp | 15,901,746 | +681,578 |
| Geode Capital Management, LLC | 10,872,917 | +557,748 |
| D. E. Shaw & Co., Inc. | 10,376,069 | +9,057,890 |
| Marex Group Ltd | 7,953,008 | -361,889 |
| Morgan Stanley | 6,766,861 | +1,547,465 |
| Bank of America Corp | 6,100,582 | +1,011,371 |
| UBS Group AG | 5,579,055 | -2,043,710 |
| Goldman Sachs Group Inc | 4,977,949 | -1,054,504 |
| Charles Schwab Investment Management Inc | 4,727,923 | +624,239 |
| Dimensional Fund Advisors LP | 4,513,153 | +4,408,902 |
| Northern Trust Corp | 3,702,048 | +358,847 |
| Van Eck Associates Corp | 3,473,797 | -7,678 |
| Healthcare of Ontario Pension Plan Trust Fund | 3,354,830 | new |
| Susquehanna International Group, Llp | 3,336,026 | +1,215,521 |
| Segall Bryant & Hamill, LLC | 2,756,177 | new |
| Bank of New York Mellon Corp | 2,684,354 | +222,783 |
| Clear Street Group Inc. | 2,653,400 | +304,100 |
Insiders
11 insiders reported holding 7,953,457 shares in total, about $52.8M at the last price.
| Holder | Shares |
|---|---|
| Thiel Frederick GChief Executive Officer, Director | 4,081,881 |
| Khan Salman HassanChief Financial Officer | 1,826,121535,681 held indirectly |
| Nowaid ZabiGeneral Counsel | 842,168 |
| Leupp Jay PDirector | 261,618 |
| Antoun GeorgesDirector | 250,639 |
| Mellinger Douglas KDirector | 231,618 |
| Mealer-Burke VickiDirector | 140,862 |
| George JanetDirector | 136,339 |
| Humpton BarbaraDirector | 136,339 |
| Novak Nancy K.Director | 22,936 |
Questions about MARA
What does MARA Holdings, Inc. do?
MARA Holdings, Inc. is a company in the Finance sector, listed on NASDAQ as MARA. Its shares trade on NASDAQ under the ticker MARA.
What is MARA Holdings, Inc.'s net worth?
MARA Holdings, Inc. has a market value (market cap) of $2.6B at the latest share price, and shareholders' equity of $2.4B on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is MARA Holdings, Inc. profitable?
No. Over the twelve months to September 30, 2026 it reported a net loss of $2.9B on revenue of $716M.
How much revenue does MARA Holdings, Inc. make?
Over the twelve months to September 30, 2026 MARA Holdings, Inc. reported revenue of $716M. That is 22.1% less than a year earlier.
When did MARA Holdings, Inc. last report?
Its most recent periodic report is the quarterly report (10-Q) filed on November 9, 2026. It covers the period to September 30, 2026.
When is MARA Holdings, Inc.'s next earnings report?
MARA Holdings, Inc.'s next report is expected around February 25, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
Similar companies
Compare MARA with
Follow MARA
Get an email when MARA Holdings, Inc. files with the SEC: results, executive changes, material agreements and annual reports.
Where the numbers come from
Financial figures are the values MARA Holdings, Inc. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.