Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Riot Platforms, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
0.01
0.27
7.85
6.84
12.1
213
259
281
377
647
Cost of revenue
0
0.03
5.82
6.1
6.25
Gross profit
0.01
0.24
2.03
0.74
5.83
Research and development
0.25
0.02
Selling, general and administrative
4.41
7.31
20.9
9.16
87.4
87.4
67.5
100
267
299
Operating expenses
5.29
13.4
67.2
Operating income
-5.19
-13.2
-59.4
-9.42
-15.5
-29.9
-513
-63
154
-622
Interest expense
0.03
4.81
0.12
0.12
0.3
Interest income
0.13
0.1
0.09
0.56
Other non-operating income
2.03
-4.88
-1.64
-11
1.44
14.7
-8.6
8.48
-43.4
-41.2
Pre-tax income
-3.16
-18
-61
-20.4
-14.1
-15.2
-521
-54.6
110
-663
Income tax
-1.61
-0.7
-0.14
0.25
-11.7
-5.09
0.74
-0.15
Income from continuing operations
-3.16
-16.3
Net income to minority interests
-0.13
-2.21
-0.26
0.01
Net income
-4.27
-19.8
-58
-20
-14.1
-15.4
-510
-49.5
109
-663
EBITDA
-5.1
-12.3
-54.1
-9.3
10.8
-3.77
-407
183
360
-279
EPS, basic
-1.16
-3.63
-4.76
-1.12
-0.34
-0.17
-3.65
-0.28
0.40
-1.95
EPS, diluted
-1.16
-3.63
-4.76
-1.12
-0.33
-0.17
-3.65
-0.28
0.34
-1.95
Shares, basic (weighted)
3.7
5.47
12.2
17.8
42
93.5
139
175
276
341
Shares, diluted (weighted)
3.7
5.47
12.2
17.8
42
93.5
139
175
319
341
Balance sheet
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
5.53
41.7
0.23
7.44
223
312
230
597
278
234
Short-term investments
7.51
0.2
10.8
Receivables
0
15.4
26.9
24.7
27.1
29.8
Inventory
0.42
Other current assets
0.22
0.54
1.38
1.35
1.26
7.14
32.7
29.1
40.3
59.4
Total current assets
13.7
42.4
2.31
12.6
236
565
443
1,009
599
449
Property, plant and equipment
0.01
4.29
0.03
5.05
10.1
276
693
704
1,339
1,529
Lease right-of-use assets
0.37
0
13.2
21.7
20.4
27.5
26.7
Goodwill
0.39
1.19
336
122
122
Intangible assets
1.85
0.75
0.7
0.46
0.34
14.2
21.5
15.7
34.1
30.2
Long-term investments
3
9.41
9.72
0.31
0.31
Other non-current assets
0.94
1.9
0.71
Total assets
17
52.3
13.9
30.4
280
1,522
1,320
2,051
3,935
3,937
Accounts payable
0.25
0.41
3.83
0.72
0.72
20
18.4
23.2
17.6
23.4
Accrued liabilities
0.31
0.22
1.53
2.19
1.58
22.1
65.5
62.4
75.7
143
Deferred revenue
0.1
0.1
0.1
0.1
0.1
2.84
8.45
4.07
9.64
37.1
Short-term debt
0.26
0.31
254
Total current liabilities
1.06
1.04
6.66
3.37
2.4
110
122
121
160
470
Long-term debt
1.7
0.53
584
587
Lease liabilities
12.3
20.2
18.9
23.9
19.6
Other non-current liabilities
6.24
8.23
6.15
6.19
0.02
Total liabilities
2.12
2.71
9.37
4.15
3.08
174
169
163
792
1,078
Total debt
0.78
585
841
Paid-in capital
125
Retained earnings
-110
-139
-197
-217
-230
-247
-756
-800
-690
-1,354
Other comprehensive income
0.15
0.22
Shareholders' equity
14.9
48.9
5.79
26.2
276
1,348
1,151
1,888
3,144
2,858
Minority interests
0.76
-1.3
-0.01
Total equity
14.9
49.6
4.49
26.2
276
1,348
1,151
1,888
3,144
2,858
Total liabilities and equity
17
52.3
13.9
30.4
280
1,522
1,320
2,051
3,935
3,937
Shares outstanding
4.09
10.6
13.2
22.8
78.5
117
168
231
345
372
Cash flow statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-4.27
-20
-60.2
-20.3
-15.4
-15.4
-521
-54.6
110
-663
Depreciation and amortization
0.09
0.89
5.27
0.12
26.3
26.1
106
247
206
343
Stock-based compensation
0.55
2.59
4.66
0.75
3.41
68.5
24.6
32.2
125
126
Deferred income tax
1.61
0.7
-0.14
-12.5
-5.05
Change in receivables
0.02
-4.45
-11.5
Change in inventory
-0.04
Change in payables
-0.45
0.09
3.42
-1.89
0
-2.77
-1.59
Cash from operations
-5.52
-4.44
-19.1
-15.4
-2.85
-86.1
0.53
33.1
-255
-573
Capital expenditures
-0.04
-20.2
-4.96
-8.14
-147
-148
-194
-240
-201
Acquisitions
-0.52
-40.9
Purchases of investments
-16.9
-0.09
-4.5
Sales and maturities of investments
1.81
Cash from investing
9.35
5.58
-24.9
-3.25
-41.1
-491
-355
-415
-1,509
76.1
Stock issued
38.5
0.08
24.8
265
685
305
778
977
213
Share buybacks
-0.39
-0.45
-5.08
-10.1
-14
-11.6
-4.29
Dividends paid
-9.56
Cash from financing
-0.31
35
2.49
25.9
260
666
272
749
1,518
455
Net change in cash
3.52
36.1
-41.4
7.22
216
88.9
-82
367
-246
-41.5
Free cash flow
-5.56
-39.2
-20.4
-11
-233
-148
-161
-495
-774
Interest paid
0.04
0.01
0.01
0.08
0.05
15.5
Income taxes paid
0.68
0.11
0.96
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $23.00 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Operating margin
-199.2%
Operating income / revenue.
EBITDA margin
-142.7%
EBITDA (operating income + depreciation and amortization) / revenue.
Net margin
-196.3%
Net income / revenue.
FCF margin
-115.1%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-73.0%
Cash from operations / revenue.
Return on equity (ROE)
-60.4%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-40.6%
Net income / average total assets.
Return on invested capital (ROIC)
-61.5%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue
45.9%
Selling, general and administrative expense / revenue.
Stock-based pay / revenue
20.9%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
42.2%
Capital expenditures / revenue.
D&A / revenue
56.5%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
71.9%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
35.7%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
121.7%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y
-505.1%
Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y
-177.6%
EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y
-706.2%
Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y
-673.5%
EPS vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
-9.1%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
35.4%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y
59.6%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
0.0%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
43.9%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
69.6%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
6.8%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
34.7%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
52.0%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
1.59x
Current assets / current liabilities.
Quick ratio
1.12x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
1.03x
(Cash + short-term investments) / current liabilities.
Debt / equity
0.00x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
0.2%
Total debt / total assets.
Liabilities / assets
32.8%
Total liabilities / total assets.
Net debt
-$466.4M
Total debt - cash - short-term investments. Negative means more cash than debt.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$1.94
Revenue / diluted weighted shares.
FCF per share
-$2.23
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$1.42
Cash from operations / diluted weighted shares.
Book value per share
$5.80
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
12.8x
Market cap / revenue.
P/B
3.94x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
4.23x
Market cap / tangible book value, when positive.
EV/Sales
12.1x
Enterprise value / revenue.
FCF yield
-9.0%
Free cash flow / market cap.
Earnings yield
-15.3%
Net income / market cap (the inverse of P/E).
Shareholder yield
0.1%
(Dividends paid + share buybacks) / market cap.
What was Riot Platforms, Inc.'s revenue in fiscal 2025?
Riot Platforms, Inc. reported revenue of $647.4M for fiscal 2025, 71.9% higher than the year before.
Was Riot Platforms, Inc. profitable in fiscal 2025?
No. It reported a net loss of $663.2M.
How much free cash flow did Riot Platforms, Inc. generate in fiscal 2025?
Cash from operations of $572.9M minus capital expenditures of $201.4M left free cash flow of -$774.3M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.